University Of Virginia Medical School Foundation
- Assets
- $123.9m
- Revenue
- $9.0m
- Investments
- $106.4m
- Employees
- 10
- Location
- Charlottesville, VA
- Founding
- 09/1972
- Data as of
- 06/2022
- EIN
- 23-7173411
Organization Overview
University Of Virginia Medical School Foundation is located in Charlottesville, VA. The organization was established in 1972. As of 06/2022, 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 06/2022, University Of Virginia Medical School Foundation generated $9.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $7.5m during the year ending 06/2022. While expenses have increased by 11.1% 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
2022
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 | $232,006 |
Patrick J Mcmanus MD President | OfficerTrustee | 1 | $0 |
Melissa M Wu MD Vice President | OfficerTrustee | 1 | $0 |
Randolph J Canterbury MD Secretary | OfficerTrustee | 1 | $0 |
Elizabeth A Carr MD President | OfficerTrustee | 1 | $0 |
Sean Miller Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $800 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,724,927 |
| Noncash contributions included in lines 1a–1f | $1,464,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,725,727 |
| Total Program Service Revenue | $195,342 |
| Investment income | $20,860 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,711 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,950,640 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,540,591 |
| 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. | $229,418 |
| Compensation of current officers, directors, key employees. | $80,296 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $535,308 |
| Pension plan accruals and contributions | $57,391 |
| Other employee benefits | $96,205 |
| Payroll taxes | $51,509 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $103,789 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $243,492 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,808 |
| Office expenses | $180,986 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,055 |
| Travel | $15,050 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $314,935 |
| Interest | $5,008 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,993 |
| Insurance | $9,195 |
| All other expenses | $6,350 |
| Total functional expenses | $7,506,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,603,477 |
| Savings and temporary cash investments | $1,830,652 |
| Pledges and grants receivable | $4,024,919 |
| Accounts receivable, net | $10,147 |
| 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 | $10,702 |
| Net Land, buildings, and equipment | $753,879 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $106,396,535 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,258,933 |
| Total assets | $123,889,244 |
| Accounts payable and accrued expenses | $100,298 |
| 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 | $290,101 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $390,399 |
| Net assets without donor restrictions | $7,320,420 |
| Net assets with donor restrictions | $116,178,425 |
| 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 | $123,889,244 |
Grants Awarded
Over the last fiscal year, University Of Virginia Medical School Foundation has awarded $5,540,591 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Charlottesville, VA PURPOSE: ENCOURAGE MEDICAL RESEARCH AND SCIENTIFIC STUDY AS WELL AS SUPPLEMENT MEDICAL SCHOOL FACULTY SALARIES AND OTHER OPERATING EXPENSES | $3,236,391 |
Charlottesville, VA PURPOSE: SCHOLARSHIP FUNDING FOR MEDICAL STUDENTS | $2,304,200 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that University Of Virginia Medical School Foundation has recieved totaling $927,927.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For medicine, nursing and allied health scholarships. | $655,000 |
Leukemia & Lymphoma Society Inc Rye Brook, NY PURPOSE: RESEARCH GRANT | $115,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $65,550 |
The Mary Kay Foundation Addison, TX PURPOSE: CANCER GRANT | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $26,258 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $8,500 |
Endowment Analysis
| Beg. Balance | $112,289,468 |
| Earnings | -$5,585,333 |
| Admin Expense | $243,492 |
| Net Contributions | $4,188,965 |
| Grants | -$4,265,198 |
| Ending Balance | $114,914,806 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fayetteville Area Health Education Foundation Inc Fayetteville, NC | $34,117,990 | $20,916,685 |
American Association Of Colleges Of Osteopathic Medicine Bethesda, MD | $36,309,153 | $18,698,103 |
Medical Educatiion & Research Instutute Memphis, TN | $23,598,104 | $14,599,708 |
University Of Maryland Neurosurgery Associates P A Baltimore, MD | $2,035,555 | $8,965,908 |
University Of Virginia Medical School Foundation Charlottesville, VA | $123,889,244 | $8,950,640 |
Association Of Academic Health Cent Ers Inc Washington, DC | $0 | $2,699,914 |
University Medical Foundation Inc Louisville, KY | $12,425,544 | $1,582,627 |
American Association Of Colleges Of Podiatric Medicine Rockville, MD | $2,077,010 | $1,554,305 |
Association Of Medical School Pediatric Department Chairman Inc Mclean, VA | $1,537,754 | $550,439 |
Health Occupations Students Of America Nashville, TN | $488,292 | $282,930 |
Lexington Clinic Foundation For Medical Education And Research Inc Lexington, KY | $676,643 | $195,952 |
University Orthopaedic Departmental Entity Inc Louisville, KY | $0 | $41,250 |