Foundations — whether corporate, private or family — are essential partners in supporting Washington and Lee’s mission and enhancing the student experience. Their gifts help fund programs, research and initiatives that advance the university’s key priorities and inform its vibrant future.
In the following Q&A, Director of Corporate and Foundation Relations Wendy Lovell ’90 offers insight into how these gifts come to life — highlighting the long-term benefits of foundation gifts and the rewarding work of thinking strategically to build these connections.
Q: How do corporate and foundation gifts uniquely support the mission of Washington and Lee?
A: Corporate and foundation gifts aim to advance the donor’s goals in ways that also align with W&L’s. Foundation gifts often fund pilot programs, research and community engagement efforts that allow universities like ours to launch new ideas and demonstrate impact before seeking broader support. Foundation funding also enables our faculty to pursue scholarly research, develop innovative curricula and build off-campus partnerships — efforts that help shape their professional development, enhance their reputation in their fields and benefit the students who work alongside them. This source of support, particularly from nationally recognized foundations, helps us attract top faculty, inspires confidence among prospective donors and signals institutional excellence to a broader audience. Foundation gifts are not just financial assets, they are strategic tools that elevate W&L’s reputation, influence and long-term success.
Q: What types of projects or priorities have been especially well-suited for foundation support in recent years?
A: Foundation gifts and grants provide essential support for universities in a variety of ways. Some foundations make direct gifts to fund capital projects, scholarships and endowed positions — investments that create lasting resources and opportunities for students and faculty. Others offer grants for specific programs, research initiatives or university-wide projects, often involving a detailed proposal or higher level of reporting.
Both approaches reflect a foundation’s commitment to making a meaningful impact—whether by supporting the construction of new facilities like the new Williams School building and the Lindley Center for Student Wellness on campus, endowing the DeLaney Center Director position or a student scholarship, advancing knowledge through research and innovation, or funding programming such as the Academic Immersion and Mentoring (AIM) Program. Foundations choose the funding approach that best aligns with their mission and goals, and their support is vital to W&L’s success and fulfilling shared objectives.
Q: What are some of the benefits of giving through a family or private foundation rather than directly?
A: Family or private foundation giving offers unique advantages that can go beyond what is possible with individual giving. Foundations provide a formal structure for involving family members in philanthropy, supporting shared values and teaching younger generations about giving and responsible wealth management. Donors can respond to emerging needs and make grants to multiple organizations over time, while creating a vehicle for their charitable vision to be carried forward by future generations.
From a tax standpoint, individuals associated with a foundation can experience these benefits:
- Contributions to a private foundation are tax-deductible with the ability to carry forward unused deductions for up to five years.
- Donating appreciated assets such as stocks or real estate to a foundation allows you to avoid capital gains taxes that would be incurred if you sold the assets yourself. The foundation pays a nominal excise on tax gains, which maximizes your gift.
- Assets transferred to a foundation are removed from your taxable estate, potentially reducing or eliminating estate taxes and preserving more wealth for charitable purposes.
- Assets held within a foundation can grow tax-deferred, increasing the funds available for future charitable giving.
W&L has benefited greatly from individuals and families who have established private foundations for charitable giving, in some cases enabling larger or more strategic gifts than an individual donor could achieve on her own. We also appreciate the great impact employees or executives at companies that have a philanthropic arm have when they leverage those resources to support the university. Additionally, those serving on the board of a foundation with discretion over grantmaking are in a unique position to connect W&L with their organization to establish mutually beneficial partnerships.
Q: How do you work with alumni or friends of W&L who may already be involved with a foundation and want to explore giving?
A: I encourage alums, parents or friends of the university with foundation relationships to begin a conversation with their gift officer about leveraging those connections for the benefit of W&L. I am also happy to work directly with donors to discuss how the goals of their foundations and W&L’s align.
Once a mutual interest and need is identified, Corporate and Foundation Relations can support every step of the process — from proposal development, submission, gift agreement and disbursement, to compliance with IRS rules, reporting and stewardship. W&L’s relationship with a foundation can span over many decades, and we highly value these partnerships.
Q: Can you share a recent moment or partnership that was especially meaningful in your work?
A: W&L alumni tend to be competitive and love a good challenge, therefore it has been particularly rewarding to witness the impact of two foundation challenge gifts that will come to fruition this fall with the opening of the Lindley Center. In 2023, The Mary Morton Parsons Foundation of Richmond, Virginia, issued a one-to-one challenge grant to support construction of the center, a matching gift opportunity the Class of 1999 Reunion Committee seized upon to successfully surpass its 25th reunion project goal and to honor their late classmate, Lindley Spaht Dodson, for whom the center is named. The class raised $1.4 million for the project and $7.4 million overall to break the 25th reunion giving record.
A year later, the Dyson Foundation of Millbrook, New York, issued a challenge to the Class of 2000 whose 25th reunion class projects include support for the W&L Fund and the creation of an endowment to support Lindley Center programming. Inspired by the challenge, the Class of 2000 broke multiple reunion giving records, including the largest overall gift total ($7.6 million), the largest 25th reunion class project total ($1.8 million) and the largest 25th reunion W&L Fund commitment ($1.8 million).
Thanks to these highly successful foundation challenges, a high bar has been set for the 25th reunion classes that follow. Most importantly, alumni in these two classes, The Mary Morton Parsons Foundation and the Dyson Foundation benefit from the knowledge that their support will positively impact the W&L student experience for years to come.
Q: What makes Washington and Lee a compelling place to invest philanthropic dollars —especially from foundations that have a broad range of choices?
A: Foundation gifts are investments not only in a grantee but also in the fulfilment of the foundation’s own mission and goals. W&L offers a compelling opportunity for such investment by combining the stability and influence of a top-tier liberal arts institution with a proven ability to deliver on ambitious projects. Our long history of measurable results and successful management of complex initiatives demonstrates that we are a reliable partner capable of translating philanthropic support into meaningful and lasting impact. We maintain robust financial controls and employ experienced staff, ensuring that every dollar is managed with the highest standards of accountability and transparency. This stewardship gives foundations confidence that their intent will be honored and their resources maximized for impact. Additionally, W&L’s commitment to academic excellence, access, leadership and service aligns closely with the values and priorities of many foundations. By investing in Washington and Lee, foundations can be assured that their support will not only advance the university’s mission, but also fulfill their own goals for meaningful and measurable impact.