Washington & Lee University
204 W. Washington Street
Lexington VA 24450
Mission Statement Washington and Lee University provides a liberal arts education that develops students' capacity to think freely, cntically 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
Leadership
CEO/Executive Director Dr. Kenneth P. Ruscio
Board Chair Mr. J. Donald Childress
Board Chair Company Affiliation Washington and Lee University
Contact Information
Address 204 W. Washington Street
Lexington, VA 24450
Telephone 540 458-8410
Fax 540 458-8428
E-mail
History and Background
Year of Incorporation 1923
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
 
 
Projected Revenue $132,948,000.00
Projected Expenses $132,898,000.00
Additional Documents
Board of Directors2018View
Statements
Mission Washington and Lee University provides a liberal arts education that develops students' capacity to think freely, cntically 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
Impact

Past Year Accomplishments

Sustainability:  Washington and Lee has reduced its energy usage by 22%.

Restoring the Colonnade:  The completely restored, state-of-the-art Washington Hall was open for use and to the public. 

Connecting the Community:  The newly opened Richard Peterson Center will be the hub for Internet connectivity in our locale. 

Upcoming Goals

Global Learning:  The imminent construction of the Center for Global Learning will cement our standing as an international institute of higher education.

Restoring the Colonnade:   The Colonnade is the heart of our campus, and our core priority for both funding and restoration.

Revitalizing the Campus Experience:  Two residence halls for first-year students will be turned into modern learning environments. 

Besides planning for the Center for Global Learning, we will turn our attention to a new indoor athletic and recreation facility, remodeled student housing, and the last two structures in the Colonnade. 

Campus Climate: We strive to foster a diverse campus through admissions, outreach, and education. 

Capital Campaign: The capital campaign Honor Our Past, Build Our Future enters the second year of its public phase. Through the impressive and indispensable generosity of alumni and friends, we have raised over $400 million towards the ambitious $500 million goal.

Needs
Funding for the upcoming goals mentioned in our Impact Statement constitute our current pressing needs. 
Background

Founded in 1749, Washington and Lee University is named for two of the most influential men in American history: George Washington, whose generous endowment of $20,000 in 1796 helped the fledgling school (then known as Liberty Hall Academy) survive and Robert E. Lee, whose presidency and innovative leadership brought the University into the national limelight.

The University is located in the historic city of Lexington (population 7,000) about three hours southwest of Washington, D.C. W&L’s 35 principal buildings include the picturesque Washington College group forming the Colonnade facing Lee Chapel, where Robert E. Lee is buried. The Colonnade and Lee Chapel are National Historic Landmarks. New or recently renovated buildings include the John W. Elrod University Commons, the journalism department's Reid Hall, the Doremus fitness center and Wilson Hall, the fine arts and music center.

Washington and Lee is composed of two undergraduate divisions, the College and the Williams School of Commerce, Economics, and Politics; and a graduate School of Law. The undergraduate institution offers 40 majors, 20 minors and more than 1,100 courses—an enviable curriculum for a school of only 1,770 undergraduate students. W&L also features the only fully-accredited business school and fully-accredited journalism program among the nation's top-tier liberal arts colleges.

The School of Law, one of the smallest nationally recognized legal programs in the country at about 400 students, has its own dean and faculty. It offers the Juris Doctor degree and, for international law graduates, the Master of Laws degree in United States Law.

As one of the nation's best teaching colleges, W&L places a high priority on recruiting and retaining a top-notch faculty. Virtually all of the University's professors hold the Ph.D. degree or equivalent earned doctoral degree, and all faculty members are active in continuing self-development as scholars and teachers. There are no teaching assistants. The average class size is 16 students and nearly one-fourth of all classes have no more than 10 students. The student-to-faculty ratio is 8:1.

 
Areas of Service
Areas Served
Area
International
National

W&L's students hail from 48 states and the District of Columbia and hold citizenships in 47 other countries. About 14 percent of undergraduates come from Virginia, with large numbers arriving from Maryland, Texas, Georgia, New York, Pennsylvania and California.  Projects such as hosting the Governor's Language Learning Academies serve Virginia's high school students, while our leadership and resources have been integral to bringing advanced internet access to the Rockbridge-area community. 

Board Chair
Board Chair Mr. J. Donald Childress
Company Affiliation Washington and Lee University
Term May 2012 to May 2020
Email jdfarrar@wlu.edu
Board of Directors
Board Members
NameAffiliation
Mr. Robert M. Balentine Washington and Lee University
Mr. Dana J. Bolden Washington and Lee University
Mr. J. Donald Childress Washington and Lee University
Ms. Mary C. Choksi Washington and Lee University
Mr. Frederick M. Cooper Washington and Lee University
Mr. Rogers Lacy Crain Washington and Lee University
Mr. Edwin M. Crawford Washington and Lee University
Mr. Edwin M Crawford Washington and Lee University
Dr. Blair Hixson Davis Washington and Lee University
Mr. James E. Dunn JrWashington and Lee University
Mr. Dwight H. Emanuelson Jr.Merrill Lynch
Mr. C. Douglas Fuge Washington and Lee University
Mr. Benjamin D.S. Gambill Jr.Washington and Lee University
Mr. J. Baker Gentry Washington and Lee University
Mr. Robert J. Grey Jr.Washington and Lee University
Mr. Richard Allen Haight Washington and Lee University
Mr. Clay T. Jackson Washington and Lee University
Ms. Sally P. Lawrence Washington and Lee University
Mr. Michael R. McAlevy Washington and Lee University
Mr. Marshall B. Miller Jr.Washington and Lee University
Mr. Michael J. Missal Washington and Lee University
Ms. Jessine A. Monaghan Washington and Lee University
Mr. B. Craig Owens Washington and Lee University
Mr. William E. Pritchard IIIWashington and Lee University
Mr. Bennett L. Ross Washington and Lee University
Dr. Kenneth P. Ruscio Washington and Lee University
Mr. Robert E. Sadler Jr.Washington and Lee University
Mr. Warren A. Stephens Washington and Lee University
Mr. Todd L. Sutherland Washington and Lee University
Ms. Sarah Nash Sylvester Washington and Lee University
Mr. Rowan G.P. Taylor Washington and Lee University
Mr. Thomas R. Wall IVWashington and Lee University
Mr. William M. Webster IVWashington and Lee University
Ms. Dallas Hagewood Wilt Washington and Lee University
Board Demographics - Ethnicity
African American/Black 1
Asian American/Pacific Islander 0
Caucasian 31
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 28
Female 4
Governance
Board Term Lengths 5
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 3
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Dr. Kenneth P. Ruscio
Plans
Organization has a Strategic Plan? Yes
Programs
Description
Fiscal Year
Projected Revenue $132,948,000.00
Projected Expenses $132,898,000.00
Endowment Value $1,026,200,000.00
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201620152014
Foundation and
Corporation Contributions
------
Government Contributions$1,218,707$2,350,034$2,289,000
Federal------
State------
Local------
Unspecified$1,218,707$2,350,034$2,289,000
Individual Contributions$18,558,640$58,545,343$91,306,000
------
$118,023,107$121,100,904$76,716,000
Investment Income, Net of Losses$70,333,802$51,885,435$117,468,000
Membership Dues------
Special Events------
Revenue In-Kind--$3,224,304--
Other$39,434$35,451($1,661,000)
Expense Allocation
Fiscal Year201620152014
Program Expense$150,039,614$138,141,525$92,270,000
Administration Expense$45,788,550$56,080,496$50,575,000
Fundraising Expense$6,532,589$5,029,710$5,173,000
Payments to Affiliates------
Total Revenue/Total Expenses1.031.191.93
Program Expense/Total Expenses74%69%62%
Fundraising Expense/Contributed Revenue33%8%6%
Assets and Liabilities
Fiscal Year201620152014
Total Assets$1,948,547,262$1,965,589,597$1,917,504,000
Current Assets$135,147,456$211,313,663$68,115,000
Long-Term Liabilities$196,527,319$201,235,776$157,687,000
Current Liabilities$75,834,882$74,713,612$89,002,000
Total Net Assets$1,676,185,061$1,689,640,209$1,670,815,000
Short Term Solvency
Fiscal Year201620152014
Current Ratio: Current Assets/Current Liabilities1.782.830.77
Long Term Solvency
Fiscal Year201620152014
Long-Term Liabilities/Total Assets10%10%8%
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Comments
Foundation Comments
  • Financial analysis derived from audited financial statements.
  • Form 990s and audit completed by KPMG, LLP.