Lokmanya Tilak Mahavidyalaya Wadwani Dist.Beed is established in 1997.The college works under the aegis of Rashtriya Shikshan Prasarak Mandal Beeds (M.S.) and affiliated to Dr.Babasaheb Ambedkar Marathwada University Aurangabad. At the inception the college was mono faculty i.e. Arts. The college has introduced Science faculty in 2009 and Commerce faculty in 2013. At present the college offers the under graduate courses in B.A., B.Sc. and B.Com. However only the Arts faculty is grant in aid basis and B.Sc. and B.Com. are on non grant basis. The college has the distinction of being the first higher education institute established at taluka level.
The mission statement of the institution is Dnyam Param Dheyam.It means “Knowledge is the ultimate aim. The college is committed to provide quality higher education to the society and economically backward community in the rural ,hilly, drought prone area and strives to bring them into the main stream of higher education.