Financials 2020

The Washington Center is an independent not-for-profit organization. We are dedicated stewards of the financial responsibilities entrusted to us by our partners, donors and other affiliated benefactors. TWC places the highest regard on funding our transformational programming, keeping administrative and operational costs at reasonable limits to empower our students with career-defining opportunities.

Revenues & Support

Operating Expenses

COVID-19 negatively affected enrollment at The Washington Center (TWC) during 2020 which resulted in a significant loss of revenue and caused a drop in net assets. Management took several actions to ensure TWC’s continuing success; such as applying for and receiving a PPP loan, receiving large donations, as well as requesting and receiving relaxation of donor restrictions on funds being held by the center. TWC’s management also bolstered its cash position by lowering operating costs by over 30%. Management has evaluated ongoing risks and is continuing to focus on increasing contributions, funding sources and managing costs effectively in the coming years.