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PROVIDES ONLINE CATALOG TO NINE MEMBERS REPRESENTING OVER 20 MILLION RECORDS. 1704186 1998866 SHARED COLLECTION FACILITY- WRLC OPERATED A SHARED STORAGE FACILITY TO FREE VALUABLE SPACE IN THE CAMPUS LIBRARIES. THE FACILITY PROVIDES HIGH DENSITY, ENVIRONMENTALLY CONTROLLED, RETRIEVABLE STORAGE FOR BOOKS, AUDIOVISUAL AND MICROFILM MEDIA AND ARCHIVAL BOXES. STUDENTS AND FACULTY MAY SUBMIT ON-LINE REQUESTS FOR ITEMS STORED USING THE ONLINE CATALOG. 1782856 1733454 RESOURCE SHARING- WRLC MEMBER LIBRARIES HAVE COMBINED RESOURCES TO CREATE A SHARED COLLECTION- A VIRTUAL LIBRARY- FOR STUDENTS AND FACULTY IN THE WASHINGTON, DC AREA. 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IT EXISTS TO SUPPORT ITS MEMBER UNIVERSITIES BY PROVIDING THE SERVICES OUTLINED IN THE PROGRAM SERVICES ACCOMPLISHMENTS OF THE FORM 990. NO DIRECT MONETARY ASSISTANCE OR PAYMENT OF DIRECT EXPENSES ARE MADE BY THE WASHINGTON RESEARCH LIBRARY CONSORTIUM, RATHER SUPPORT IS PROVIDED THROUGH THE SERVICES RENDERED. 7798513 1000000 813843 6859 9605497 7106918 699282 7687 7798513 1.00000 false false 213450 213450 16413439 9610443 6802996 4919937 4488377 431560 337487 326902 10585 7458591 X 6594658 498700 498700 6095958 67187 67187 6163145 5223812 5223812 67187 67187 5290999 SCHEDULE D, PAGE 2, PART V, LINE 4 THE CONSORTIUM HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR QUASI- ENDOWMENT ASSETS THAT ATTEMPT TO MEET BOARD RECOMMENDED MINIMUM BALANCES FOR VARIOUS FUTURE PURPOSES WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE QUASI-ENDOWMENT NET ASSETS. UNDER THIS POLICY, THE QUASI- ENDOWMENT ASSETS ARE INVESTED IN A MANNER ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. ~BOARD OF DIRECTORS RESERVE FUND REQUIRES APPROVAL FROM THE BOARD OF DIRECTORS. THESE FUNDS ARE TO BE USED FOR EMERGENCIES FOR WHICH THERE IS NOT FUNDING IN THE BUDGET. ~OPERATING RESERVE FUND REQUIRES APPROVAL FROM THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR. THE PURPOSE OF THIS FUND IS TO FUND OPERATING SHORTFALLS. ~CATALYST FUND REQUIRES APPROVAL FROM THE EXECUTIVE DIRECTOR, WITH A REPORT TO THE BOARD OF DIRECTORS. THESE FUNDS ARE EARMARKED FOR NON- BUDGETED ONE-TIME INITIATIVES THAT MAY PRESENT THEMSELVES DURING THE YEAR. ~CAPITAL EXPENSE FUND REQUIRES APPROVAL FROM THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR. THE PURPOSE OF THIS FUND IS TO PURCHASE OR REPLACE PROPERTY, PLANT, AND EQUIPMENT. SCHEDULE D, PAGE 3, PART X THE CONSORTIUM IS EXEMPT FROM INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE ON ALL BUT ITS UNRELATED BUSINESS INCOME. THE CONSORTIUM IS NOT CLASSIFIED AS A PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE. THE CONSORTIUM HAD NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2025. TAX RETURN FILINGS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. THE CONSORTIUMS TAX RETURNS FOR TAX YEARS ENDING BEFORE JUNE 30, 2022 ARE NO LONGER SUBJECT TO EXAMINATION. 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FT. ADDITION TO THE BORROWER'S EXISTING LIBRARY STORAGE FACILITIES, AND ANY RELATED GROUND, INFRASTRUCTURE OR OTHER REAL PROPERTY IMPROVEMENTS. THE BOND WILL ALSO BE USED TO REFINANCE AN EXISTING CONVENTIONAL LOAN PREVIOUSLY INCURRED BY THE ORGANIZATION TO FINANCE A SEPARATE 12,000 SQ. FT. ADDITION TO SUCH LIBRARY STORAGE FACILITIES AT THE SITE AND TO FUND, IF NECESSARY, CAPITALIZED INTEREST AND OTHER RESERVES AND TO PAY COSTS OF ISSUANCE OF THE BOND. FORM 990, PAGE 1, ITEM B FINAL SALARY INFORMATION WAS UNAVAILABLE FOR ALL RELATED PARTIES PRIOR TO DUE DATE. AMENDEDMENT UPDATES PART VII AND SCH J. FORM 990, PAGE 6, PART VI, LINE 6 WASHINGTON RESEARCH LIBRARY CONSORTIUM HAS NINE MEMBER UNIVERSITIES. FORM 990, PAGE 6, PART VI, LINE 7A BOARD MEMBERS ARE OFFICERS OR EMPLOYEES FROM THE NINE MEMBER UNIVERSITIES. FORM 990, PAGE 6, PART VI, LINE 11B WRLC'S DIRECTOR OF FINANCE AND EXECUTIVE DIRECTOR WILL REVIEW DRAFT OF 990. THE FINAL DRAFT IS PROVIDED TO THE FINANCE COMMITTEE AND THE ENTIRE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 12C MONITORING IS COMPLETED BY ANNUAL DISCLOSURE. FORM 990, PAGE 6, PART VI, LINE 15A THE FINANCE COMMITTEE HAS AMONG ITS RESPONSIBILITIES FOR RECOMMENDATION TO THE FULL BOARD THE DIRECT PERFORMANCE REVIEW AND COMPENSATION RECOMMENDATION FOR THE EXECUTIVE DIRECTOR OF WRLC. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION WILL MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. 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