WASHINGTON & LEE UNIVERSITY: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- WASHINGTON & LEE UNIVERSITY (EIN 54-0505977)
- Tax period
- 2009-07-01 to 2010-06-30
- Filed
- 2011-04-12
- IRS object ID
- 201141029349300624
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-04-12T19:42:26-05:00 | Timestamp |
| Tax Period End Date | 2010-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1676 International Drive | AddressLine1 |
| City | McLean | City |
| State | VA | State |
| ZIP Code | 22102 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540505977 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WASHINGTON AND LEE UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | WASH | NameControl |
| Phone | 5404588400 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | UNIVERSITY PLACE | AddressLine1 |
| City | LEXINGTON | City |
| State | VA | State |
| ZIP Code | 24450 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | STEVEN G MCALLISTER | Name |
| Title | TREASURER | Title |
| Date Signed | 2011-04-12 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7032868000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | KENNETH P RUSCIO | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | UNIVERSITY PLACE | AddressLine1 |
| City | LEXINGTON | City |
| State | VA | State |
| ZIP Code | 24450 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 163310948 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.wlu.edu | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1749 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | Washington and Lee provides a liberal arts college education to almost 1,800 undergraduate students & offers JD & LMM degrees to over 400 law students each year. Copy of Mission stmt can be found in ATCH 2. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 36 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 35 | NbrIndependentVotingMembers |
| Total Nbr Employees | 2200 | TotalNbrEmployees |
| Total Nbr Volunteers | 450 | TotalNbrVolunteers |
| Total Gross UBI | 180218 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -500882 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 66646105 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 31076847 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 95161755 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 98802504 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 20176419 | InvestmentIncomePriorYear |
| Investment Income Current Year | 32861631 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 156763 | OtherRevenuePriorYear |
| Other Revenue Current Year | 569966 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 182141042 | TotalRevenuePriorYear |
| Total Revenue Current Year | 163310948 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 24821645 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 28960957 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 76005473 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 79584478 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 4216652 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 55077168 | OtherExpensePriorYear |
| Other Expenses Current Year | 51487994 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 155904286 | TotalExpensesPriorYear |
| Total Expenses Current Year | 160033429 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 26236756 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3277519 | RevenuesLessExpensesCY |
| Total Assets BOY | 1311348361 | TotalAssetsBOY |
| Total Assets EOY | 1387416640 | TotalAssetsEOY |
| Total Liabilities BOY | 206865150 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 195680110 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 1104483211 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 1191736530 | NetAssetsOrFundBalancesEOY |
| Mission Description | SEE ATTACHMENT 2 IN SCHEDULE O. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Activity Code | 611310 | ActivityCode |
| Expense | 112795702 | Expense |
| Grants | 28960957 | Grants |
| Revenue | 98802504 | Revenue |
| Description | TO PROVIDE HIGHER EDUCATION. | Description |
| Total Program Service Expense | 112795702 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | true | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | true | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | true | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | true | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | true | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | true | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | true | DeductibleNonCashContributions |
| Deductible Contributions Of Art | true | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 437 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 2200 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Nbr Voting Governing Body Members | 36 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 35 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | DEBORAH Z CAYLOR | NamePerson |
| Telephone Number | 5404588400 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | WASHINGTON AND LEE UNIVERSITY | AddressLine1 |
| City | LEXINGTON | City |
| State | VA | State |
| ZIP Code | 244502116 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (51 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| J DONALD CHILDRESS | ||||||||
| RECTOR | 1.0 | X | 0 | 0 | 0 | |||
| ROBERT M BALENTINE JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| ANDREW N BAUR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| FREDERICK E COOPER | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| EDWIN M CRAWFORD | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| KIMBERLY T DUCHOSSOIS | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| MARK R EAKE | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| J HAGOOD ELLISON JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| DWIGHT H EMANUELSON JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| JORGE E ESTRADA | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| J SCOTT FECHNAY | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| WILLIAM H FISHBACK JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| C DOUGLAS FUGE | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| BENJAMIN S GAMBILL JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| J BAKER GENTRY JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| ROBERT J GREY JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| BERNARD C GRIGSBY II | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| RICHARD ALLEN HAIGHT | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| RAY V HARTWELL II | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| PETER C KEEFE | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| JOHN D KLINEDINST | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| SALLY P LAWRENCE | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| JOHN M MCCARDELL JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| THOMAS N MCJUNKIN | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| JESSINE A MONAGHAN | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| MICHAEL H MONIER | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| HARRY J PHILLIPS JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| BENNETT L ROSS | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| ROBERT E SADLER JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| MARTIN E STEIN JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| WARREN A STEPHENS | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| SARAH NASH SYLVESTER | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| CHARLES B TOMM | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| JOHN W VARDAMAN JR | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| THOMAS R WALL IV | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| ALSTON PARKER WATT | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| WILLIAM M WEBSTER IV | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| DALLAS HAGEWOOD WILT | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| JOHN A WOLF | ||||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | |||
| KENNETH P RUSCIO | ||||||||
| PRESIDENT | 40.0 | X | 374602 | 0 | 194999 | X | ||
| JAMES D FARRAR JR | ||||||||
| SECRETARY | 40.0 | 128297 | 0 | 56007 | X | |||
| STEVEN G MCALLISTER | ||||||||
| TREASURER | 40.0 | 252999 | 0 | 54366 | X | |||
| JUNE R APRILLE | ||||||||
| PROVOST | 40.0 | 332855 | 0 | 29536 | X | |||
| DENNIS W CROSS | ||||||||
| VICE PRESIDENT | 40.0 | 302751 | 0 | 37227 | X | |||
| HOWARD DOBIN | ||||||||
| DEAN | 40.0 | 198715 | 0 | 29897 | X | |||
| RODNEY A SMOLLA | ||||||||
| DEAN | 40.0 | 383087 | 0 | 34572 | X | |||
| LYMAN P Q JOHNSON | ||||||||
| LAW PROFESSOR | 40.0 | 239024 | 0 | 31441 | X | |||
| TIMOTHY S JOST | ||||||||
| LAW PROFESSOR | 40.0 | 241989 | 0 | 53767 | X | |||
| DAVID MILLON | ||||||||
| LAW PROFESSOR | 40.0 | 305722 | 0 | 33697 | X | |||
| LARRY C PEPPERS | ||||||||
| DEAN | 40.0 | 246619 | 0 | 33169 | X | |||
| SCOTT E SUNDBY | ||||||||
| LAW PROFESSOR | 40.0 | 243601 | 0 | 83005 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 3250261 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 671683 | TotalOtherCompensation |
| Number Individuals GT100 K | 136 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| KJELLSTROM AND LEE INC | |||||
| 1607 OWNBY LANE | RICHMOND | VA | 23220 | CONSTRUCTION | 6752622 |
| MAKENA CAPITAL LP | |||||
| 2755 SAND HILL ROAD SUITE 200 | MENLO PARK | CA | 94025 | INVESTMENT MGMT | 1743292 |
| GLAVE AND HOLMES ASSOCIATES PC | |||||
| 801 EAST MAIN STREET | RICHMOND | VA | 23223 | ARCHITECTURAL | 1025811 |
| BRANCH AND ASSOCIATES INC | |||||
| 5732 AIRPORT ROAD NW | ROANOKE | VA | 24021 | CONSTRUCTION | 518084 |
| AVIS CONSTRUCTION COMPANY INC | |||||
| 521 RUTHERFORD AVENUE NE | ROANOKE | VA | 24016 | CONSTRUCTION | 381141 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 18 | NumberOfContractorsGT100K |
| Government Grants | 4949590 | GovernmentGrants |
| All Other Contributions | 26127257 | AllOtherContributions |
| Noncash Contributions | 982814 | NoncashContributions |
| Total Contributions | 31076847 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| TUITION | 611710 | 81657996 | 81466710 | 191286 |
| AUXILIARY SERVICES | 611710 | 16517449 | 16033377 | 484072 |
| OTHER MISC INCOME | 611710 | 627059 | 590819 | 36240 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 98802504 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 32861631 | TotalRevenueColumn |
| Unrelated Business Revenue | -531380 | UnrelatedBusinessRevenue |
| Exclusion | $33,393,011 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MISCELLANEOUS | Description |
| Business Code | 611710 | BusinessCode |
| Total Revenue Column | 569966 | TotalRevenueColumn |
| Exclusion | $569,966 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 569966 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 163310948 | TotalRevenueColumn |
| Related Or Exempt Function Income | 98090906 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 180218 | UnrelatedBusinessRevenue |
| Exclusion | $33,962,977 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25845233 | Total |
| Program Services | 25845233 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3115724 | Total |
| Program Services | 3115724 | ProgramServices |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3921945 | Total |
| Program Services | 1232246 | ProgramServices |
| Management And General | 2349722 | ManagementAndGeneral |
| Fundraising | 339977 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 56555234 | Total |
| Program Services | 42263150 | ProgramServices |
| Management And General | 11895929 | ManagementAndGeneral |
| Fundraising | 2396155 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5077490 | Total |
| Program Services | 3546239 | ProgramServices |
| Management And General | 1303121 | ManagementAndGeneral |
| Fundraising | 228130 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9968936 | Total |
| Program Services | 6431407 | ProgramServices |
| Management And General | 3226504 | ManagementAndGeneral |
| Fundraising | 311025 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4060873 | Total |
| Program Services | 2849999 | ProgramServices |
| Management And General | 1034283 | ManagementAndGeneral |
| Fundraising | 176591 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23972 | Total |
| Program Services | 16301 | ProgramServices |
| Management And General | 7671 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 134135 | Total |
| Program Services | 11922 | ProgramServices |
| Management And General | 122213 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 175213 | Total |
| Management And General | 175213 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1743292 | Total |
| Program Services | 1620957 | ProgramServices |
| Management And General | 122335 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1816859 | Total |
| Program Services | 1055878 | ProgramServices |
| Management And General | 715109 | ManagementAndGeneral |
| Fundraising | 45872 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69906 | Total |
| Program Services | 32966 | ProgramServices |
| Management And General | 36890 | ManagementAndGeneral |
| Fundraising | 50 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2195259 | Total |
| Program Services | 911595 | ProgramServices |
| Management And General | 1269184 | ManagementAndGeneral |
| Fundraising | 14480 | Fundraising |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7099813 | Total |
| Program Services | 766451 | ProgramServices |
| Management And General | 6281947 | ManagementAndGeneral |
| Fundraising | 51415 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5705744 | Total |
| Program Services | 4411238 | ProgramServices |
| Management And General | 841368 | ManagementAndGeneral |
| Fundraising | 453138 | Fundraising |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 723356 | Total |
| Program Services | 563304 | ProgramServices |
| Management And General | 156619 | ManagementAndGeneral |
| Fundraising | 3433 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5492171 | Total |
| Program Services | 3768117 | ProgramServices |
| Management And General | 1724054 | ManagementAndGeneral |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9101505 | Total |
| Program Services | 5724915 | ProgramServices |
| Management And General | 3376590 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 962755 | Total |
| Program Services | 118848 | ProgramServices |
| Management And General | 843907 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Management And GeneralManagementAndGeneral | Program ServicesProgramServices | FundraisingFundraising |
|---|---|---|---|---|
| COST OF SALES FOR AUXILIARY SE | 4200035 | 4200035 | ||
| DUES AND SUBSCRIPTIONS | 1515052 | 186639 | 1320212 | 8201 |
| POSTAGE AND PRINTING | 2456754 | 610941 | 1686955 | 158858 |
| TEACHING AND OFFICE SUPPLIES | 4781551 | 1489163 | 3267310 | 25078 |
| ALL OTHER EXPENSES | 3290622 | 1051638 | 2234735 | 4249 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 160033429 | Total |
| Program Services | 112795702 | ProgramServices |
| Management And General | 43021075 | ManagementAndGeneral |
| Fundraising | 4216652 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 40802 | BOY |
| EOY | 14271 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3294461 | BOY |
| EOY | 4314263 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 119415097 | BOY |
| EOY | 80255017 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 869815 | BOY |
| EOY | 1399614 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1988409 | BOY |
| EOY | 2080198 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55042438 | BOY |
| EOY | 58967419 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 895130 | BOY |
| EOY | 1102697 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 653235 | BOY |
| EOY | 768355 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 340571283 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 133264457 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 199214176 | BOY |
| EOY | 207306826 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 127175852 | BOY |
| EOY | 139596950 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 798393873 | BOY |
| EOY | 886560855 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 684914 | BOY |
| EOY | 3383621 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3680159 | BOY |
| EOY | 1666554 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1311348361 | BOY |
| EOY | 1387416640 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7477809 | BOY |
| EOY | 9849051 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1755171 | BOY |
| EOY | 2324928 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 122749535 | BOY |
| EOY | 119429385 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 74882635 | BOY |
| EOY | 64076746 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 206865150 | BOY |
| EOY | 195680110 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 215304253 | BOY |
| EOY | 245204514 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 258753855 | BOY |
| EOY | 290151397 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 630425103 | BOY |
| EOY | 656380619 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1104483211 | BOY |
| EOY | 1191736530 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1311348361 | BOY |
| EOY | 1387416640 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Art Public Exhibition Amts ArtPublicExhibitionAmts
| Field | Value | IRS element (for citing) |
|---|---|---|
| Assets In Part X | 2464805 | AssetsInPartX |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Collect Used For Public Exhibition | X | CollectUsedForPublicExhibition |
| Collect Used For Scholar Research | X | CollectUsedForScholarResearch |
| Collect Used For Preservation | X | CollectUsedForPreservation |
| Collect Used For Loan Or Exch Prgrms | X | CollectUsedForLoanOrExchPrgrms |
| Solicited Assets For Sale | false | SolicitedAssetsForSale |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 624679572 | BeginningOfYearBalance |
| Contributions | 51083389 | Contributions |
| Investment Earnings Or Losses | 78983121 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 16279445 | GrantsOrScholarships |
| Other Expenditures | 13642350 | OtherExpenditures |
| Administrative Expenses | 4697365 | AdministrativeExpenses |
| End Of Year Balance | 720126922 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 723303610 | BeginningOfYearBalance |
| Contributions | 55838562 | Contributions |
| Investment Earnings Or Losses | -117744092 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 15292823 | GrantsOrScholarships |
| Other Expenditures | 20203500 | OtherExpenditures |
| Administrative Expenses | 1222185 | AdministrativeExpenses |
| End Of Year Balance | 624679572 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.26000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.45000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.29000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | true | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2713376 | OtherCostOrOtherBasis |
| Book Value | 2713376 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 271348795 | OtherCostOrOtherBasis |
| Depreciation | 97278994 | Depreciation |
| Book Value | 174069801 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8191039 | OtherCostOrOtherBasis |
| Depreciation | 3088956 | Depreciation |
| Book Value | 5102083 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 39826785 | OtherCostOrOtherBasis |
| Depreciation | 32896507 | Depreciation |
| Book Value | 6930278 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 18491288 | OtherCostOrOtherBasis |
| Book Value | 18491288 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 207306826 | TotalOfBookValueLandBuildings |
| Financial Derivatives | FinancialDerivatives | |
| Closely Held Equity Interests | CloselyHeldEquityInterests |
Other Securities OtherSecurities (2 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| LIMITED PARTNERSHIP INTERESTS | 598526138 | F |
| FUNDS HELD IN TRUST BY OTHERS | 288034717 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 886560855 | TotalOfBookValueSecurities |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (5 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| STUDENT AND OTHER DEPOSITS | $1,044,609 |
| U.S. GOVERNMENT GRANTS REFUNDABLE | $2,080,987 |
| SPLIT INTEREST AGREEMENT OBLIGATIONS | $44,230,861 |
| POSTRETIREMENT BENEFIT OBLIGATION | $13,717,413 |
| ASSET RETIREMENT OBLIGATIONS | $3,002,876 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 64076746 | TotalOfAmounts |
| Total Revenue | 163310948 | TotalRevenue |
| Total Expenses | 160033429 | TotalExpenses |
| Excess Or Deficit For Year | 3277519 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 83975800 | NetUnrealizedGLOnInvestments |
| Total Adjustments | 83975800 | TotalAdjustments |
| Excess Or Deficit Per FS | 87253319 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 214967959 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 83975800 | NetUnrealizedGainsInvestments |
| Other Revenues | -1614540 | OtherRevenues |
| Revenue Not Rptd F990 | 82361260 | RevenueNotRptdF990 |
| Revenue Subtotal | 132606699 | RevenueSubtotal |
| Investment Expenses Not Included | 1743292 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | 28960957 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 30704249 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 163310948 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 127714640 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | -1614540 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | -1614540 | ExpensesNotRptdF990 |
| Expenses Subtotal | 129329180 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 1743292 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 28960957 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 30704249 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 160033429 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PART III, Q4 - PROVIDE A DESCRIPTION OF THE ORGANIZATIONS COLLECTIONS AND | EXPLAIN HOW THEY FURTHER THE ORGANIZATIONS EXEMPT PURPOSE: | THE UNIVERSITY POSSESSES ART COLLECTIONS, INCLUDING THE WASHINGTON-CUSTIS-LEE PORTRAITS, THE VINCENT L. BRADFORD COLLECTION OF 19TH- CENTURY AMERICAN PAINTINGS, THE THOMAS F. TORREY II COLLECTION OF LANDSCAPE PAINTINGS, THE STAN KAMEN COLLECTION OF WESTERN ART, THE SYDNEY AND FRANCES LEWIS COLLECTION OF 20TH-CENTURY ART, AND THE JACOB AND BERNICE WEINSTEIN COLLECTION OF MODERN ART, THE MR. AND MRS. EUCHLIN D. REEVES COLLECTION OF 17TH-, 18TH-, CHINESE EXPORT PORCELAIN. THE SPECIAL COLLECTIONS OF THE JAMES G. LEYBURN LIBRARY INCLUDE RARE BOOKS, MANUSCRIPTS, AND THE UNIVERSITY'S ARCHIVES. THE COLLECTION EMPHASIS IS ON THE HISTORY OF THE UNIVERSITY AND ROCKBRIDGE COUNTY, GENERALS LEE AND WASHINGTON, AND THE SHENANDOAH VALLEY. THE WATSON PAVILION FOR ASIAN ARTS, HOUSES CHINESE, JAPANESE, AND KOREAN CERAMICS, BRONZES, AND JADES, AS WELL AS, AN AUTHENTIC JAPANESE TEAROOM. THE MUSEUM AND ART COLLECTIONS ARE USED BY STUDENTS IN ART AND ART HISTORY, CULTURAL STUDIES, HISTORY, LANGUAGES, AND OTHER CLASSES TO ENHANCE THEIR EDUCATIONAL EXPERIENCE. |
| PART V, Q4-DESCRIBE THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUND | ENDOWMENT IS A TERM USED COMMONLY TO REFER TO THE RESOURCES THAT HAVE BEEN RESTRICTED BY THE DONOR OR DESIGNATED BY THE BOARD OF TRUSTEES THAT WILL BE INVESTED TO PROVIDE FUTURE REVENUE TO SUPPORT THE UNIVERSITY'S ACTIVITIES. BECAUSE TUITION AND FEES REVENUE DOES NOT COVER THE ENTIRE COST OF EDUCATING A STUDENT, ENDOWMENT FUNDS SUPPLEMENT THE COST OF FACULTY SALARIES AND EDUCATIONAL PROGRAMS. THE ENDOWMENT AND CURRENT CONTRIBUTIONS PROVIDE SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS. THE UNIVERSITY ENDOWMENT ALSO PROVIDES FUNDS FOR THE FOLLOWING AREAS: > LIBRARY MAINTENANCE AND ACQUISITIONS > FACULTY AND STAFF TO DO RESEARCH AND DEVELOP EDUCATIONAL PROGRAMS > PROGRAM COSTS FOR AREAS SUCH AS LEGAL CLINICS AND A TAX CLINIC > PROGRAM COSTS FOR AREAS SUCH AS INTERNSHIPS AND THE SHEPHERD POVERTY PROGRAM > ATHLETIC PROGRAMS, EQUIPMENT, AND TRAVEL EXPENSES > MAINTENANCE AND IMPROVEMENTS FOR BUILDINGS AND GROUNDS | |
| PART X, FIN 48 FOOTNOTE FROM AUDITED FINANCIAL STATEMENTS | NO FOOTNOTE WAS NEEDED IN THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2010 RELATED TO FIN 48. THE UNIVERSITY DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE OR REFLECT ANY UNCERTAIN TAX POSITIONS. | |
| PART XII - RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS WITH | REVENUE PER RETURN. EXPLANATION FOR OTHER ADJUSTMENTS & PART XIII- RECONCI | THE UNIVERSITY PROVIDED A TOTAL OF $28,960,957 IN FINANCIAL AID TO STUDENTS, WHICH IS INCLUDED IN NET REVENUES ON THE AUDITED FINANCIAL STATEMENTS. DONOR FUNDED STUDENT FINANCIAL AID, A REDUCTION TO "TUITION AND FEES" 16,279,445 INSTITUTIONALLY FUNDED STUDENT FINANCIAL AID, A REDUCTION TO "TUITION AND FEES" 11,146,993 INSTITUTIONALLY FUNDED STUDENT FINANCIAL AID, A REDUCTION TO "AUXILIARY ENTERPRISES" 1,534,519 ============== 28,960,957 ============== STUDENT FINANCIAL AID AS REPORTED ON PART IX, STATEMENT OF FUNCTIONAL EXPENSES: GRANTS AND ASSISTANCE TO INDIVIDUALS IN THE U.S. 25,845,233 - SEE ALSO SCHEDULE I GRANTS AND ASSISTANCE TO INDIVIDUALS OUTSIDE OF THE U.S. 3,115,724 - SEE ALSO SCHEDULE F ============== 28,960,957 ============== |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | true | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | true | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | true | PolicyPublViaBroadcastMedia |
| Pub Via Broadcast Media Expln | ALL POLICIES, INCLUDING THE UNIVERSITIES' NONDISCRIMINATION/EEO STATEMENT ARE POSTED TO THE UNIVERSITY WEB SITE. ALL PROSPECTIVE STUDENTS RECEIVE SOLICITATION MATERIALS THAT STATE THE UNIVERSITIES NONDISCRIMINATION POLICIES, INCLUDING NON-RACIAL DISCRIMINATION. ANNUALLY, THE PRESIDENT OF THE UNIVERSITY BROADCASTS THE NONDISCRIMINATION POLICY AND REINFORCES SUPPORT FOR THE UNIVERSITY COMMUNITY TO FOLLOW POLICY. | PubViaBroadcastMediaExpln |
| Maint Racial Composition Records | true | MaintRacialCompositionRecords |
| Maint Scholarships Records | true | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | true | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | true | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | false | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | false | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | false | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | false | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | false | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | false | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActy |
| Government Financial Aid Received | true | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | false | GovernmentFinancialAidRevoked |
| Govt Financial Aid Explanation | THE UNIVERSITY ADMINISTERS FEDERAL LOAN AND GRANTS TO STUDENTS THROUGH PROGRAMS SUCH AS PELL AND PERKINS. DURING THE TAX YEAR ENDED JUNE 30, 2010, THE UNIVERSITY HELD FEDERAL GRANTS WITH FEDERAL DEPARTMENTS SUCH AS THE DEPARTMENT OF EDUCATION, DEPARTMENT OF HEALTH AND HUMAN SERVICES, NATIONAL SCIENCE FOUNDATION, U.S. FISH AND WILDLIFE SERVICES, AND US GEOLOGICAL SURVEY. | GovtFinancialAidExplanation |
| Compliance With Rev Proc7550 | true | ComplianceWithRevProc7550 |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | true | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (10 entries)
| RegionRegion | Type Of Activities ConductedTypeOfActivitiesConducted | Total ExpendituresTotalExpenditures |
|---|---|---|
| East Asia and the Pacific | Grantmaking | 984106 |
| Europe (Including Iceland and Greenland) | Grantmaking | 495743 |
| Middle East and North Africa | Grantmaking | 227767 |
| North America | Grantmaking | 195822 |
| Russia and the Newly Independent States | Grantmaking | 130893 |
| South America | Grantmaking | 491334 |
| South Asia | Grantmaking | 399316 |
| Sub-Saharan Africa | Grantmaking | 190743 |
| Central America and the Caribbean | Investments | |
| North America | Investments |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Amount Spent | 3115724 | TotalAmountSpent |
Grants To Ind Outside US GrantsToIndOutsideUS (8 entries)
| Type Of AssistanceTypeOfAssistance | RegionRegion | Number Of RecipientsNumberOfRecipients | Amount Of Non Cash AssistanceAmountOfNonCashAssistance | Description Of Non Cash AssistanceDescriptionOfNonCashAssistance | Method Of ValuationMethodOfValuation |
|---|---|---|---|---|---|
| SCHOLARSHIP | East Asia/Pacific | 25 | 984106 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | Europe/Iceland/Greenland | 11 | 495743 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | Middle East/North Africa | 4 | 227767 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | North America | 5 | 195822 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | Russia | 3 | 130893 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | South America | 11 | 491334 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | South Asia | 8 | 399316 | SCHOLARSHIP | BOOK |
| SCHOLARSHIP | Sub-Saharan Africa | 4 | 190743 | SCHOLARSHIP | BOOK |
Form990 Schedule F Part IV Form990ScheduleFPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part I, Line 1 | Identifier |
| Explanation | IN FISCAL YEAR 2009-2010 THE UNIVERSITY PROVIDED FINANCIAL AID TO SUPPORT 245 LAW STUDENTS AND 819 UNDERGRADUATES FOR A TOTAL OF 1064 STUDENTS. 71 OF THOSE STUDENTS WERE CITIZENS OF OTHER COUNTRIES AS REPORTED IN SCHEDULE F. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | STUDENT FINANCIAL AID | TypeOfGrant |
| Number Of Recipients | 993 | NumberOfRecipients |
| Amount Of Non Cash Assistance | 25845233 | AmountOfNonCashAssistance |
| Method Of Valuation | FMV | MethodOfValuation |
| Description Of Non Cash Assistance | Tuition, room/board | DescriptionOfNonCashAssistance |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART I, LINE 1 | Identifier |
| Explanation | IN FISCAL YEAR 2009-2010 THE UNIVERSITY PROVIDED FINANCIAL AID TO SUPPORT 245 LAW STUDENTS AND 819 UNDERGRADUATES FOR A TOTAL OF 1064 STUDENTS. 993 OF THOSE STUDENTS WERE CITIZENS OF THE UNITED STATES AS REPORTED IN SCHEDULE I. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (12 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KENNETH P RUSCIO | |||||||||||||
| 374602 | 0 | 0 | 0 | 0 | 0 | 100523 | 0 | 94476 | 0 | 569601 | 0 | 0 | 0 |
| JAMES D FARRAR JR | |||||||||||||
| 128297 | 0 | 0 | 0 | 0 | 0 | 13574 | 0 | 42433 | 0 | 184304 | 0 | 0 | 0 |
| STEVEN G MCALLISTER | |||||||||||||
| 252999 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 29866 | 0 | 307365 | 0 | 0 | 0 |
| JUNE R APRILLE | |||||||||||||
| 332855 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 5036 | 0 | 362391 | 0 | 0 | 0 |
| DENNIS W CROSS | |||||||||||||
| 302751 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 12727 | 0 | 339978 | 0 | 0 | 0 |
| HOWARD DOBIN | |||||||||||||
| 198715 | 0 | 0 | 0 | 0 | 0 | 20361 | 0 | 9536 | 0 | 228612 | 0 | 0 | 0 |
| RODNEY A SMOLLA | |||||||||||||
| 383087 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 10072 | 0 | 417659 | 0 | 0 | 0 |
| LYMAN P Q JOHNSON | |||||||||||||
| 239024 | 0 | 0 | 0 | 0 | 0 | 23473 | 0 | 7968 | 0 | 270465 | 0 | 0 | 0 |
| TIMOTHY S JOST | |||||||||||||
| 241989 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 29267 | 0 | 295756 | 0 | 0 | 0 |
| DAVID MILLON | |||||||||||||
| 305722 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 9197 | 0 | 339419 | 0 | 0 | 0 |
| LARRY C PEPPERS | |||||||||||||
| 246619 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 8669 | 0 | 279788 | 0 | 0 | 0 |
| SCOTT E SUNDBY | |||||||||||||
| 243601 | 0 | 0 | 0 | 0 | 0 | 24500 | 0 | 58505 | 0 | 326606 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Schedule J Supplemental Information | Identifier |
| Explanation | Part I, Line 1 AS IS GENERALLY ACCEPTED IN HIGHER EDUCATION, THE UNIVERSITY PRESIDENT IS REQUIRED TO LIVE IN HOUSING PROVIDED ON CAMPUS AND IS PROVIDED A UNIVERSITY VEHICLE. TRAVEL EXPENSE OF $3,022 WAS PAID FOR THE PRESIDENT'S SPOUSE TO TRAVEL TO OVER TEN UNIVERSITY FUNDRAISING AND BOARD OF TRUSTEE FUNCTIONS IN 2010. THE UNIVERSITY ALSO PAYS SOCIAL CLUB DUES OF LESS THAN $300 PER MONTH FOR THE PRESIDENT AND FOR THE VICE PRESIDENT OF ADVANCEMENT AND COMMUNICATIONS. Part I, Line 4b The University President participates in a supplemental, non-qualified retirement plan sponsored by the University. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer |
|---|---|---|---|---|---|---|
| Virginia College Building Authority | ||||||
| 541249154 | 927781NC2 | 2006-08-10 | 20446543 | Various capital improvements | false | false |
| Industrial Development Authority Of Rockbridge | ||||||
| 541284598 | 2003-03-31 | 3950000 | Reduce outstanding debt | false | false | |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Total ProceedsTotalProceeds | Amount DefeasedAmountDefeased | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Capital ExpendituresCapitalExpenditures | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|---|
| 20377187 | 4847048 | 274495 | 15325000 | 2008 | false | false | true | true |
| 3950000 | 3950000 | 2003 | false | false | true | true |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|
| false | false | false | false | false | true |
| false | false | false | false | false | true |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate | Term Of HedgeTermOfHedge |
|---|---|---|---|---|---|---|
| (no name) | ||||||
| true | true | false | false | false | false | |
| SUNTRUST CAP MARKET | ||||||
| true | true | true | false | false | false | 15. |
Schedule L IRS990ScheduleL
Loan Table LoanTable (11 entries)
| Purpose Of LoanPurposeOfLoan | Loan From OrganizationLoanFromOrganization | Original PrincipalOriginalPrincipalAmount | Balance DueBalanceDue | DefaultDefault | Approved By BoardApprovedByBoard | Written AgreementWrittenAgreement |
|---|---|---|---|---|---|---|
| JAMES D FARRAR JR | ||||||
| MORTGAGE FOR HOME | X | $240,000 | 205359 | false | false | true |
| STEVEN G MCALLISTER | ||||||
| MORTGAGE FOR HOME | X | $181,000 | 66723 | false | false | true |
| KENNETH P RUSCIO | ||||||
| MORTGAGE FOR HOME | X | $300,000 | 270729 | false | false | true |
| JUNE R APRILLE | ||||||
| MORTGAGE FOR HOME | X | $300,000 | 284163 | false | false | true |
| DENNIS W CROSS | ||||||
| MORTGAGE FOR HOME | X | $57,525 | 53813 | false | false | true |
| HOWARD DOBIN | ||||||
| MORTGAGE FOR HOME | X | $375,000 | 350891 | false | false | true |
| TIMOTHY S JOST | ||||||
| MORTGAGE FOR HOME | X | $76,500 | 36865 | false | false | true |
| DAVID MILLON | ||||||
| MORTGAGE FOR HOME | X | $300,000 | 278087 | false | false | true |
| BRIAN C MURCHISON | ||||||
| MORTGAGE FOR HOME | X | $203,000 | 173361 | false | false | true |
| SCOTT E SUNDBY | ||||||
| MORTGAGE FOR HOME | X | $200,000 | 156927 | false | false | true |
| SEE SCHEDULE O | ||||||
| X | ||||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 1876918 | TotalBalanceDue |
Schedule M IRS990ScheduleM
| Field | Value | IRS element (for citing) |
|---|---|---|
| Works Of Art | WorksOfArt | |
| Art Historical Treasures | ArtHistoricalTreasures | |
| Art Fractional Interest | ArtFractionalInterest | |
| Books And Publications | BooksAndPublications | |
| Clothing And Household Goods | ClothingAndHouseholdGoods | |
| Cars And Other Vehicles | CarsAndOtherVehicles | |
| Boats And Planes | BoatsAndPlanes | |
| Intellectual Property | IntellectualProperty |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 73 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 982814 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | SELLING PRICE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities Closely Held Stock | SecuritiesCloselyHeldStock | |
| Securities Prtnrshp Trust Intrsts | SecuritiesPrtnrshpTrustIntrsts | |
| Securities Miscellaneous | SecuritiesMiscellaneous | |
| Qualified Contrib Hist Struct | QualifiedContribHistStruct | |
| Qualified Contrib Other | QualifiedContribOther | |
| Real Estate Residential | RealEstateResidential | |
| Real Estate Commercial | RealEstateCommercial | |
| Real Estate Other | RealEstateOther | |
| Collectibles | Collectibles | |
| Food Inventory | FoodInventory | |
| Drugs And Medical Supplies | DrugsAndMedicalSupplies | |
| Taxidermy | Taxidermy | |
| Historical Artifacts | HistoricalArtifacts | |
| Scientific Specimens | ScientificSpecimens | |
| Archaeological Artifacts | ArchaeologicalArtifacts | |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | true | ReviewProcessUnusualNCGifts |
| Third Parties Used | false | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| FORM 990, PART III | MISSION STATEMENT OF WASHINGTON AND LEE UNIVERSITY: | WASHINGTON AND LEE UNIVERSITY PROVIDES A LIBERAL ARTS EDUCATION THAT DEVELOPS STUDENTS' CAPACITY TO THINK FREELY, CRITICALLY, AND HUMANELY AND TO CONDUCT THEMSELVES WITH HONOR, INTEGRITY, AND CIVILITY. GRADUATES WILL BE PREPARED FOR LIFE-LONG LEARNING, PERSONAL ACHIEVEMENT, RESPONSIBLE LEADERSHIP, SERVICE TO OTHERS, AND ENGAGED CITIZENSHIP IN A GLOBAL AND DIVERSE SOCIETY. |
| PART VI - GOVERNANCE, MANAGEMENT, AND DISCLOSURE | Part VI, QUESTION 11 | THE 990 IS PREPARED BY THE UNIVERSITY BUSINESS OFFICE AND REVIEWED BY MANAGEMENT. AN OUTSIDE ACCOUNTING AND TAX FIRM COMPILES THE 990 FORMS AND PROVIDES ADDITIONAL CLARIFICATION. THE AUDIT SUBCOMMITTEE OF THE FINANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990, AFTER WHICH A COPY IS MADE AVAILABLE TO THE ENTIRE BOARD OF TRUSTEES. |
| PART VI - GOVERNANCE, MANAGEMENT, AND DISCLOSURE | PART VI, QUESTION 12 | THE CONFLICT OF INTEREST POLICY FOR TRUSTEES IMPOSES A CONTINUING OBLIGATION TO DISCLOSE POTENTIAL CONFLICTS TO THE OFFICE OF GENERAL COUNSEL OF THE UNIVERSITY. THE GENERAL COUNSEL WILL ADVISE THE CHAIR OF THE TRUSTEESHIP COMMITTEE AT LEAST ANNUALLY REGARDING ANY CONFLICT OF INTEREST WITHIN THE BOARD OF TRUSTEES. THE TRUSTEESHIP COMMITTEE HAS THE AUTHORITY TO OVERSEE AND DECIDE WHETHER A TRUSTEE SHOULD DISCLOSE HIS OR HER INTEREST TO THE BOARD AND RECUSE HIM OR HERSELF IN MATTERS WHERE POTENTIAL CONFLICT MAY EXIST. THE GENERAL COUNSEL WILL MAKE A PERMANENT RECORD OF CONFLICTS, WHICH IS AVAILABLE TO ANY TRUSTEE OR OTHER PERSONS AUTHORIZED BY THE CHAIR OF THE AUDIT SUBCOMMITTEE. A CONFLICT OF INTEREST POLICY IS IN PLACE FOR "OFFICERS, SENIOR ADMINISTRATORS, AND FINANCE PERSONNEL" IS COMPLETED AND SIGNED ANNUALLY BY THOSE EMPLOYEES. THE POLICY DEFINES THE MEANS TO DISCLOSE AND RESOLVE REAL, APPARENT OR POTENTIAL CONFLICTS. |
| PART VI - GOVERNANCE, MANAGEMENT, AND DISCLOSURE | PART VI, QUESTION 15 | THE POLICY ON GUIDELINES FOR REVIEWING EXECUTIVE COMPENSATION OUTLINES THE PROCESS TO BE FOLLOWED. THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE IS CHARGED TO THOROUGHLY REVIEW THE PRESIDENT'S COMPENSATION, AS WELL AS, ASSESS AND APPROVE THE REASONABLENESS OF THE COMPENSATION. AFTER REVIEW AND RECOMMENDATION, WHICH INCLUDES EVALUATION OF MARKET AND COMPARISON TO PEER SCHOOLS, THE FULL BOARD OF TRUSTEES APPROVES COMPENSATION FOR THE PRESIDENT. THEY ALSO CONDUCT A THOROUGH REVIEW OF THE PRESIDENT'S PERFORMANCE FROM THE PRIOR YEAR AT THIS TIME. THE UNIVERSITY GENERAL COUNSEL RECORDS MINUTES OF THE MEETINGS REGARDING THE PRESIDENTS COMPENSATION, AND RETAINS COPIES OF THE PERFORMANCE REVIEWS. FOR OTHER EXECUTIVES AND OFFICERS, THE PRESIDENT AND EXECUTIVE DIRECTOR OF HUMAN RESOURCES REVIEW FINANCIAL BUDGETS, EMPLOYEE PERFORMANCE, AND BENCHMARK DATA FOR SIMILAR POSITIONS AT PEER SCHOOLS TO DETERMINE REASONABLENESS OF COMPENSATION. |
| PART VI - GOVERNANCE, MANAGEMENT, AND DISCLOSURE | PART VI, QUESTION 19 | THE UNIVERSITY MAKES ITS GOVERNANCE DOCUMENTS, SUCH AS THE CHARTER AND BYLAWS, AVAILABLE ON THE UNIVERSITY WEBSITE UNDER THE OFFICE OF GENERAL COUNSEL, POLICIES AND LEGAL NOTICES, BOARD POLICIES AND STATEMENTS. THE CONFLICT OF INTEREST STATEMENT FOR THE BOARD OF TRUSTEES AND FOR UNIVERSITY EMPLOYEES CAN ALSO BE FOUND ON THE OFFICE OF GENERAL COUNSEL WEB PAGE. FINANCIAL STATEMENTS ARE SUMMARIZED ON THE OFFICE OF THE TREASURER WEB PAGE. COPIES OF AUDITED FINANCIAL STATEMENTS CAN BE REQUESTED FROM THE UNIVERSITY TREASURER. THE UNIVERSITY WEBSITE IS WWW.WLU.EDU |
| SCHEDULE L, PART II | ALL OF WASHINGTON AND LEE'S FULL-TIME EXEMPT EMPLOYEES ARE ELIGIBLE TO APPLY FOR A UNIVERSITY HOUSING LOAN. SUCH LOANS MAY BE USED TO PURCHASE, BUILD, OR IMPROVE A PRINCIPAL RESIDENCE IN THE LEXINGTON/ROCKBRIDGE COUNTY AREA. INTEREST RATES ON LOANS ARE 25 PERCENT LESS THAN THE INTEREST RATE CHARGED BY LEXINGTON FINANCIAL INSTITUTIONS FOR RESIDENTIAL MORTGAGE LOANS. IMPUTED INTEREST INCOME RELATED TO A UNIVERSITY HOUSING LOAN IS INCLUDED IN EMPLOYEE W-2'S, AS APPLICABLE, EACH YEAR. AS OF 6/30/10, THE UNIVERSITY HAD OVER 322 EMPLOYEES WITH HOME LOANS OUTSTANDING. THE LOAN PROGRAM IS APPROVED BY THE BOARD OF TRUSTEES AND REVIEWED AS PART OF THE INVESTMENT PORTFOLIO OF THE UNIVERSITY BY THE INVESTMENT COMMITTEE. |
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