Jefferson Scholars Foundation
- Assets
- $761.7m
- Revenue
- $36.6m
- Investments
- $581.3m
- Employees
- 23
- Location
- Charlottesville, VA
- Founding
- 03/2001
- Data as of
- 06/2021
- EIN
- 31-1755873
Organization Overview
Jefferson Scholars Foundation is located in Charlottesville, VA. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Jefferson Scholars Foundation employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jefferson Scholars Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Jefferson Scholars Foundation generated $36.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $25.7m during the year ending 06/2021. While expenses have increased by 6.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE JEFFERSON SCHOLARS FOUNDATION (FOUNDATION) PROVIDES ACADEMIC MERIT-BASED SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP SUPPORT TO STUDENTS AND FACULTY AT THE UNIVERSITY OF VIRGINIA (UVA).
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAM IN SUPPORT OF UVA.THE FOUNDATION AWARDS ACADEMIC MERIT-BASED, FULL COST, FOUR-YEAR SCHOLARSHIP GRANTS TO BETWEEN 32 AND 50 INCOMING UNDERGRADUATES EACH YEAR. THE FOUNDATION ALSO AWARDED 21 ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO INCOMING PHD AND MBA CANDIDATES AND 7 ACADEMIC MERIT-BASED GRADUATE FELLOWSHIPS TO NATIONAL FELLOWS DURING FISCAL YEAR 2023. LASTLY, THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 6 UVA PROFESSORS AND PROVIDED SUPPORT FOR 12 GRADUATE STUDENTS WORKING WITH THE PROFESSORS. OVERALL, THE FOUNDATION PROVIDED FINANCIAL SUPPORT TO 303 STUDENTS AND FACULTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allison Cryor Dinardo Foundation Board Of Direct | Trustee | 1 | $0 |
Anna M Nekoranec Foundation Board Of Direct | Trustee | 2 | $0 |
Anne W Poole Foundation Board Of Direct | Trustee | 1 | $0 |
Bruce A Miller Foundation Board Of Direct | Trustee | 2 | $0 |
Merry W Dougherty Foundation Board Of Direct | Trustee | 1 | $0 |
Deborah H Valentine Foundation Board Of Direct | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Colliers International Asset Services L Building Maintenance | 6/29/23 | $483,691 |
Jw Townsend Inc Landscaping Services | 6/29/23 | $135,148 |
Journey Group Inc Marketing & Communication | 6/29/23 | $140,319 |
Uva Investment Management Company Investment Management | 6/29/23 | $1,390,346 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,505,149 |
| Investment income | $1,183,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $107,818 |
| Net Gain/Loss on Asset Sales | $833,105 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,629,374 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $16,423,418 |
| Grants and other assistance to Foreign Orgs/Individuals | $848,691 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,083,302 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $863,226 |
| Pension plan accruals and contributions | $294,776 |
| Other employee benefits | $776,299 |
| Payroll taxes | $173,694 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,972 |
| Fees for services: Accounting | $55,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $840,178 |
| Fees for services: Other | $74,085 |
| Advertising and promotion | $0 |
| Office expenses | $230,980 |
| Information technology | $97,902 |
| Royalties | $0 |
| Occupancy | $607,432 |
| Travel | $55,253 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,069 |
| Interest | $796,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $985,980 |
| Insurance | $87,420 |
| All other expenses | $0 |
| Total functional expenses | $25,722,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,297,745 |
| Pledges and grants receivable | $104,188,709 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $984,100 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,600,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $524,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $581,277,582 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,772,530 |
| Total assets | $761,742,846 |
| Accounts payable and accrued expenses | $403,518 |
| Grants payable | $35,910,619 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $22,500,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,909,570 |
| Total liabilities | $67,723,707 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $694,019,139 |