WASHINGTON COLLEGE

EIN: 520591691 501(c)(3) Education

CHESTERTOWN, MD

Total Revenue
$154,192,682
Total Expenses
$112,294,656
Total Assets
$563,029,259
Net Assets
$477,363,229
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1782
Legal Domicile
MD
Principal Officer
DR MICHAEL J SOSULSKI
Phone
4107787784
Tax Period
2023-07-01 to 2024-06-30

WASHINGTON COLLEGE, founded in 1782, is a major nonprofit in the Education sector that reported $154.2M in total revenue in fiscal year 2023. Revenue surged 63% from the prior year, signaling strong growth momentum. The organization ran a surplus of $41.9M, a strong 27% operating margin.

Mission

WASHINGTON COLLEGE CHALLENGES AND INSPIRES EMERGING CITIZEN LEADERS TO DISCOVER LIVES OF PURPOSE AND PASSION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $85,403,009
Program Service Revenue $59,014,658
Investment Income $8,310,699
Other Revenue $1,464,316
TOTAL REVENUE $154,192,682

Expense Breakdown

Grants Paid $30,251,019
Salaries & Benefits $38,496,999
Fundraising Expenses $2,578,970
Program Expenses $90,982,851
Other Expenses $43,546,638
TOTAL EXPENSES $112,294,656

Year-over-Year Comparison

2023 2022 Change
Revenue $154,192,682 $94,382,563 +0.6%
Expenses $112,294,656 $101,417,420 +0.1%
Net Income $41,898,026 $-7,034,857 -7.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
33
Independent Members
32
Employees
1230
Volunteers
381

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$778,527
Total Directors
35
$509,811
Key Employees
5
$1,107,539
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN T GOLDING CHAIR 1.00
Officer Director
$0 $0 $0
RICHARD WHEELER VICE CHAIR 1.00
Officer Director
$0 $0 $0
VALARIE A SHEPPARD SECRETARY 1.00
Officer Director
$0 $0 $0
PETER MALLER TREASUER 1.00
Officer Director
$0 $0 $0
JIM BAROSSI MEMBER 1.00
Director
$0 $0 $0
THAD BENCH MEMBER 1.00
Director
$0 $0 $0
H LAWRENCE CULP JR MEMBER 1.00
Director
$0 $0 $0
RYDER DANIELS MEMBER 1.00
Director
$0 $0 $0
HILARY FALK MEMBER 1.00
Director
$0 $0 $0
L MYRTON GAINES II MEMBER 1.00
Director
$0 $0 $0
MARGARET STEVENS JACKS MEMBER 1.00
Director
$0 $0 $0
KIRK B JOHNSON MEMBER 1.00
Director
$0 $0 $0
HONG JIM LIM MEMBER 1.00
Director
$0 $0 $0
REBECCA CORBIN LOREE MEMBER 1.00
Director
$0 $0 $0
WILLIAM S SHEP MILLER MEMBER 1.00
Director
$0 $0 $0
EDWARD P NORDBERG MEMBER 1.00
Director
$0 $0 $0
BERT W REIN MEMBER 1.00
Director
$0 $0 $0
BRANDON RIKER MEMBER 1.00
Director
$0 $0 $0
REBECCA RIMEL MEMBER 1.00
Director
$0 $0 $0
LAURA SALLADIN MEMBER 1.00
Director
$0 $0 $0
HUGH SHERMAN MEMBER 1.00
Director
$0 $0 $0
LISA SMITH MEMBER 1.00
Director
$0 $0 $0
WILLIAM L SNOOK MEMBER 1.00
Director
$0 $0 $0
DARYL L SWANSTROM MEMBER 1.00
Director
$0 $0 $0
JOHN H TIMKEN MEMBER 1.00
Director
$0 $0 $0
DONALD C TOMASSO MEMBER 1.00
Director
$0 $0 $0
DEBORAH MOXLEY TURNER MEMBER 1.00
Director
$0 $0 $0
JANICE DAUE WALKER MEMBER 1.00
Director
$0 $0 $0
ELIZABETH WAREHIME MEMBER 1.00
Director
$0 $0 $0
MICHAEL WOODFOLK MEMBER (THRU 12/31) 1.00
Director
$0 $0 $0
MICHELLE GIBBONS-NEFF MEMBER 1.00
Director
$0 $0 $0
NAYEF SAMHAT MEMBER 1.00
Director
$0 $0 $0
RICHARD D WOOD MEMBER 1.00
Director
$0 $0 $0
CARYN YORK MEMBER 1.00
Director
$0 $0 $0
MICHAEL SOSULSKI PRESIDENT 55.00
Officer Director
$441,251 $68,560 $509,811
EDWARD PATRICK VP FOR FINANCE & ADMINISTRATION 55.00
Officer
$254,175 $14,541 $268,716
SUSANNAH C SUTLEY VP, ADVANCEMENT, ALUMNI AF 55.00
Key Emp
$264,053 $29,471 $293,524
SARAH FEYERHERM VP OF STUDENT AFFAIRS 55.00
Key Emp
$174,884 $16,582 $191,466
VICTOR SENSENIG CHIEF OF STAFF/VP FOR PLANNING 55.00
Key Emp
$162,265 $27,120 $189,385
BRIAN SPEER VICE PRESIDENT FOR MARKETING AND COMMUNICATION 55.00
Key Emp
$211,973 $28,888 $240,861
JOHNNIE JOHNSON VICE PRESIDENT FOR ENROLLMENT MANAGEMENT 55.00
Key Emp
$175,349 $16,954 $192,303
LISA MARX DIRECTOR OF HEALTH SERVICE 55.00
Highest
$142,766 $5,366 $148,132
MICHAEL HARVEY SPECIAL ASSISTANT TO THE PRESIDENT FOR STRATEGIC I 55.00
Highest
$166,305 $20,413 $186,718
ADAM GOODHEART DIRECTOR OF THE STARR CENTER 55.00
Highest
$147,593 $15,890 $163,483
VALERIE IMBRUCE DIRECTOR, CES 55.00
Highest
$198,670 $24,711 $223,381
SHEKAYLA HOOKS NURSE PRACTITIONER 55.00
Highest
$133,133 $13,855 $146,988
JOHN SEIDEL FORMER DIRECTOR, CES (THRU 12/22) 0.00
$210,230 $981 $211,211
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $154,192,682 $112,294,656 $563,029,259 $41,898,026
2023 $94,382,563 $101,417,420 $490,986,375 $-7,034,857
2022 $131,582,653 $92,915,532 $475,865,680 $38,667,121
2021 $93,610,957 $85,976,806 $509,587,236 $7,634,151
2020 $102,852,298 $97,551,723 $454,444,953 $5,300,575
2019 $100,449,446 $102,212,916 $453,240,948 $-1,763,470
2018 $113,756,526 $104,324,496 $452,219,934 $9,432,030
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