University Of Virginia Medical School Foundation
- Assets
- $129.0m
- Revenue
- $9.2m
- Investments
- $105.7m
- Employees
- 10
- Location
- Charlottesville, VA
- Founding
- 09/1972
- Data as of
- 06/2023
- EIN
- 23-7173411
Organization Overview
University Of Virginia Medical School Foundation is located in Charlottesville, VA. The organization was established in 1972. As of 06/2023, University Of Virginia Medical School Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Virginia Medical School 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 06/2023, University Of Virginia Medical School Foundation generated $9.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $6.5m during the year ending 06/2023. While expenses have increased by 7.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
UNIVERSITY OF VIRGINIA MEDICAL SCHOOL FOUNDATION ENCOURAGES AND FOSTERS THE INVOLVEMENT OF MEDICAL ALUMNI IN THE LIFE OF THEIR ALMA MATER AS AMBASSADORS, ADVOCATES, ADVISORS, BENEFACTORS AND EDUCATIONAL PARTNERS. THE CONSTITUENTS OF THE FOUNDATION ARE STUDENTS, GRADUATES, FELLOWS, AND CURRENT AND FORMER RESIDENTS AND FACULTY OF THE UVA SCHOOL OF MEDICINE. THE FOUNDATION ACCOMPLISHES THIS BY INFORMING AND INVOLVING MEDICAL ALUMNI AND CHAMPIONING THE ROLE OF ALUMNI RELATIONS AS A PROFESSIONAL DISCIPLINE IN PARTNERSHIP WITH AND IN SERVICE TO THE UNIVERSITY OF VIRGINIA SCHOOL OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO THE UVA MEDICAL SCHOOL TO BE USED TOWARD ENCOURAGING MEDICAL RESEARCH AND SCIENTIFIC STUDY AS WELL AS SUPPLEMENTING MEDICAL SCHOOL FACULTY SALARIES AND OTHER OPERATING EXPENSES.
SCHOLARSHIP GRANTS AWARDED TO MEDICAL SCHOOL STUDENTS BASED ON ACADEMIC QUALIFICATIONS AND FINANCIAL NEED TO ENCOURAGE MEDICAL RESEARCH AND STUDY.
ALUMNI MEETINGS AND PUBLICATIONS AND RELATED EXPENSES TO PROVIDE UPDATES TO MEDICAL SCHOOL ALUMNI REGARDING CURRENT RESEARCH AND SCIENTIFIC STUDY AT THE MEDICAL SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry J Collins Executive Director/ex-Offi | OfficerTrustee | 40 | $240,670 |
Elizabeth A Carr MD President | OfficerTrustee | 1 | $0 |
Patrick J Mcmanus MD Past President | OfficerTrustee | 1 | $0 |
Melissa M Wu MD Vice President | OfficerTrustee | 1 | $0 |
Randolph J Canterbury MD Secretary | OfficerTrustee | 1 | $0 |
John G Jordan III Treasurer | OfficerTrustee | 1 | $0 |
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 | $9,051,259 |
| Noncash contributions included in lines 1a–1f | $392,988 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,051,259 |
| Total Program Service Revenue | $125,008 |
| Investment income | $56,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$504 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,232,071 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,389,206 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $285,604 |
| Compensation of current officers, directors, key employees. | $99,962 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $639,530 |
| Pension plan accruals and contributions | $56,131 |
| Other employee benefits | $91,766 |
| Payroll taxes | $58,285 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $100,361 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $257,370 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,986 |
| Office expenses | $159,339 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,000 |
| Travel | $6,064 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $269,913 |
| Interest | $14,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,038 |
| Insurance | $10,227 |
| All other expenses | $7,933 |
| Total functional expenses | $6,487,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,500,875 |
| Savings and temporary cash investments | $2,692,809 |
| Pledges and grants receivable | $3,902,493 |
| Accounts receivable, net | $26,005 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,377 |
| Net Land, buildings, and equipment | $726,120 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $105,679,058 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,411,061 |
| Total assets | $128,963,798 |
| Accounts payable and accrued expenses | $148,614 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $275,101 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $423,715 |
| Net assets without donor restrictions | $7,427,462 |
| Net assets with donor restrictions | $121,112,621 |
| 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 | $128,963,798 |
Grants Awarded
Over the last fiscal year, University Of Virginia Medical School Foundation has awarded $4,389,206 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UVA MEDICAL SCHOOL PURPOSE: ENCOURAGE MEDICAL RESEARCH AND SCIENTIFIC STUDY AS WELL AS SUPPLEMENT MEDICAL SCHOOL FACULTY SALARIES AND OTHER OPERATING EXPENSES | $1,842,523 |
UVA MEDICAL SCHOOL PURPOSE: SCHOLARSHIP FUNDING FOR MEDICAL STUDENTS | $2,546,683 |