University Of Virginia Foundation
- Assets
- $509.0m
- Revenue
- $36.5m
- Investments
- $156.1m
- Employees
- 45
- Location
- Charlottesville, VA
- Founding
- 04/1995
- Data as of
- 06/2022
- EIN
- 54-1682176
Organization Overview
University Of Virginia Foundation is located in Charlottesville, VA. The organization was established in 1995. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of Virginia Foundation employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Virginia 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 06/2022, University Of Virginia Foundation generated $36.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $38.1m during the year ending 06/2022. While expenses have increased by 6.5% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ADMINISTRATIVE SERVICES TO UNIVERSITY ENTITIES, UNIVERSITY ASSOCIATED ORGANIZATIONS, OR OTHER ENTITIES INVOLVED IN ACTIVITIES WHICH SUPPORT THE UNIVERSITY. TO ENGAGE IN MATTERS PERTAINING TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY. TO THAT END, THE FOUNDATION SHALL ENGAGE IN REAL ESTATE ACTIVITIES FOR ONE OR MORE OF THE FOLLOWING REASONS: TO SUPPORT THE UNIVERSITY'S PRIMARY PROGRAMS; TO PROVIDE AN INVESTMENT RETURN; TO PROVIDE FOR THE REAL ESTATE NEEDS OF THE UNIVERSITY FOR THE NEXT 100 YEARS; AND TO IMPROVE THE UNIVERSITY'S BOUNDARIES AND ENTRANCES. TO USE AND ADMINISTER GIFTS, GRANTS, BEQUESTS, AND DEVISES FOR THE BENEFIT OF THE UNIVERSITY.
Describe the Organization's Program Activity:
TO PROVIDE ADMINISTRATIVE SERVICES TO UNIVERSITY OF VIRGINIA (UNIVERSITY) ENTITIES, UNIVERSITY ASSOCIATED ORGANIZATIONS, OR OTHER ENTITIES INVOLVED IN ACTIVITIES THAT SUPPORT THE UNIVERSITY. TO ENGAGE IN MATTERS PERTAINING TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY. TO THAT END, THE FOUNDATION SHALL ENGAGE IN REAL ESTATE ACTIVITIES FOR ONE OR MORE OF THE FOLLOWING REASONS: TO SUPPORT THE UNIVERSITY'S PRIMARY PROGRAMS; TO PROVIDE AN INVESTMENT RETURN; TO PROVIDE FOR THE REAL ESTATE NEEDS OF THE UNIVERSITY FOR THE NEXT 100 YEARS; AND TO IMPROVE THE UNIVERSITY'S BOUNDARIES AND ENTRANCES.
THE FOUNDATION PROVIDES ACCOUNTING SERVICES TO SOME UNIVERSITY ASSOCIATED ORGANIZATIONS (UAO'S). EACH OF THE UAO'S IS TAX EXEMPT UNDER SECTION 501(C)(3). THE SERVICES PROVIDED INCLUDE BOOKKEEPING, FINANCIAL ANALYSIS, INVESTMENT ASSISTANCE, BUDGET MANAGEMENT, MANAGEMENT OF AUDIT PROCESS, GENERAL CONSULTING, AND FINANCIAL REPORTING. THE FOUNDATION ALSO PROVIDES ADMINISTRATION OF PAYROLL AND BENEFITS FOR SEVERAL UAO'S. BY PROVIDING THESE SERVICES, THE FOUNDATION ENABLES THE UNIVERSITY OF VIRGINIA TO CONCENTRATE MORE RESOURCES (BOTH PERSONNEL AND FINANCIAL) ON RAISING FUNDS FOR ITS EDUCATIONAL PURPOSES. THE FOUNDATION PROVIDES THE ABOVE-MENTIONED SERVICES FOR THE FOLLOWING UAO'S: UVA HEALTH FOUNDATION, UVA'S COLLEGE AT WISE FOUNDATION, INC., UVA SCHOOL OF EDUCATION AND HUMAN DEVELOPMENT FOUNDATION, UVA SCHOOL OF ARCHITECTURE FOUNDATION, THE UNIVERSITY OF VIRGINIA MEDICAL SCHOOL FOUNDATION, LEIFUR EIRIKSSON FOUNDATION, AND THE UNIVERSITY OF VIRGINIA ALUMNI BOARD OF TRUSTEES OF THE ENDOWMENT.
THE FOUNDATION GRANTS SCHOLARSHIPS ANNUALLY. THE SCHOLARSHIPS ARE AWARDED TO GRADUATING SENIOR HIGH SCHOOL STUDENTS. THE FOUNDATION ASKS ALL OF THE PUBLIC AND PRIVATE HIGH SCHOOLS IN VIRGINIA TO NOMINATE ONE GRADUATING SENIOR HIGH SCHOOL STUDENT. THE FOUNDATION HAS FOUND THAT MORE THAN 600 STUDENTS WILL BE NOMINATED FOR THE ELEVEN SCHOLARSHIPS EACH YEAR. THE PRIMARY CRITERIA WILL BE SCHOLASTIC ABILITY. ADDITIONAL CRITERIA INCLUDE EXCELLENCE OF CHARACTER, QUALITIES OF LEADERSHIP, PUBLIC SERVICE AND DEVOTION TO DUTY. AWARDS HAVE BEEN GRANTED FOR APPROXIMATELY 20 YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim R Rose Secretary/ceo | Officer | 40 | $542,254 |
Frederick A Missel Dir-Design & Dev | 40 | $265,733 | |
Deborah A Van Eersel Chief Admin. Officer | 40 | $258,352 | |
Maryellen Dolan Dir. Of R/e Asset Manageme | 40 | $226,890 | |
Bradford A Butler Treasurer/cfo | Officer | 40 | $215,715 |
David R Jefferson Controller, Uvahpi | 40 | $152,087 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Martin Horn Inc Construction | 6/29/22 | $234,891 |
Bridgeport Construction Co Llc Construction | 6/29/22 | $322,478 |
Contour Construction Excavation And Utilities | 6/29/22 | $1,150,311 |
Dumontjanks Llc Consulting | 6/29/22 | $736,241 |
Williams Lawncare And Landscaping Inc Landscaping | 6/29/22 | $267,879 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $700,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $700,150 |
| Total Program Service Revenue | $32,144,490 |
| Investment income | $30,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $839,412 |
| Net Gain/Loss on Asset Sales | $1,615,590 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,530,024 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,725,285 |
| Grants and other assistance to domestic individuals. | $222,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $880,517 |
| Compensation of current officers, directors, key employees. | $618,010 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,434,853 |
| Pension plan accruals and contributions | $400,881 |
| Other employee benefits | $563,086 |
| Payroll taxes | $291,462 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,318 |
| Fees for services: Accounting | $58,748 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $98,227 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,062,984 |
| Travel | $9,965 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,736 |
| Interest | $2,990,564 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,742,778 |
| Insurance | $587,890 |
| All other expenses | $32,609 |
| Total functional expenses | $38,097,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,054,912 |
| Savings and temporary cash investments | $15,028 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,300,155 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,526,471 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $110,828 |
| Net Land, buildings, and equipment | $300,392,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $156,131,496 |
| Investments—program-related | $29,831,079 |
| Intangible assets | $0 |
| Other assets | $8,596,308 |
| Total assets | $508,958,321 |
| Accounts payable and accrued expenses | $9,583,769 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,742,694 |
| 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 | $188,983,991 |
| Other liabilities | $121,175,379 |
| Total liabilities | $325,485,833 |
| Net assets without donor restrictions | $73,184,074 |
| Net assets with donor restrictions | $110,288,414 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $508,958,321 |
Grants Awarded
Over the last fiscal year, University Of Virginia Foundation has awarded $19,206,618 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ALBEMARLE CONSERVATION EASEMENT AUTHORITY PURPOSE: CONSERVATION OF NATURAL RESOURCES | $3,750,000 |
ALBEMARLE CONSERVATION EASEMENT AUTHORITY PURPOSE: CONSERVATION OF NATURAL RESOURCES | $3,750,000 |
ALBEMARLE CONSERVATION EASEMENT AUTHORITY PURPOSE: CONSERVATION OF NATURAL RESOURCES | $3,750,000 |
Charlottesville, VA PURPOSE: OPERATING SUPPORT | $2,652,206 |
Charlottesville, VA PURPOSE: OPERATING SUPPORT | $2,652,206 |
Charlottesville, VA PURPOSE: OPERATING SUPPORT | $2,652,206 |
Grants Recieved
Over the last fiscal year, we have identified 40 grants that University Of Virginia Foundation has recieved totaling $611,205.
| Awarding Organization | Amount |
|---|---|
Murdough Foundation Hudson, OH PURPOSE: FUNDING FOR THE RENOVATION OF THE MCCUE CENTER | $200,000 |
Dechomai Asset Trust Jacksonville, FL PURPOSE: unrestricted | $106,500 |
American College Of Radiology Reston, VA PURPOSE: INNOVATION GRANT | $100,000 |
Flow Foundation Inc Winstonsalem, NC PURPOSE: CHRISTIAN STUDY CENTER | $57,500 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $25,000 |
Charlottesville Area Community Foundation Charlottesville, VA PURPOSE: GENERAL PURPOSES | $25,000 |
Endowment Analysis
| Beg. Balance | $127,104,980 |
| Earnings | -$5,860,739 |
| Other Expense | $4,560,370 |
| Ending Balance | $116,683,871 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Mason University Foundation Inc Fairfax, VA | $459,289,058 | $113,505,085 |
West Virginia Univ Foundation Inc Morgantown, WV | $1,952,164,791 | $155,430,683 |
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |