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 06/2022, 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 6 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $25.7m during the year ending 06/2021. While expenses have increased by 7.5% per year over the past 6 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
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:
SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAM IN SUPPORT OF UVA.THE FOUNDATION AWARDS ACADEMIC MERIT-BASED, FULL COST, FOUR-YEAR SCHOLARSHIP GRANTS TO BETWEEN 31 AND 35 INCOMING UNDERGRADUATES EACH YEAR. THE FOUNDATION ALSO AWARDED 19 ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO INCOMING PHD AND MBA CANDIDATES AND 7 ACADEMIC MERIT-BASED GRADUATE FELLOWSHIPS TO NATIONAL FELLOWS DURING FISCAL YEAR 2021. LASTLY, THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 5 UVA PROFESSORS. OVERALL, THE FOUNDATION PROVIDED FINANCIAL SUPPORT TO 266 STUDENTS AND FACULTY.
SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAM IN SUPPORT OF UVA.THE FOUNDATION AWARDS ACADEMIC MERIT-BASED, FULL COST, FOUR-YEAR SCHOLARSHIP GRANTS TO BETWEEN 31 AND 35 INCOMING UNDERGRADUATES EACH YEAR. THE FOUNDATION ALSO AWARDED 19 ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO INCOMING PHD AND MBA CANDIDATES AND 7 ACADEMIC MERIT-BASED GRADUATE FELLOWSHIPS TO NATIONAL FELLOWS DURING FISCAL YEAR 2021. LASTLY, THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 5 UVA PROFESSORS. OVERALL, THE FOUNDATION PROVIDED FINANCIAL SUPPORT TO 266 STUDENTS AND FACULTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James H Wright President/secretary/treasu | Officer | 40 | $781,858 |
S Patrick Ingram Director Of Development | Officer | 40 | $273,187 |
Michael E Lutz Assistant Treasurer | Officer | 40 | $175,944 |
Helen M Dwyer Assistant Secretary | Officer | 40 | $171,512 |
Benjamin B Skipper Director, Graduate And Und | 40 | $147,732 | |
Kevin E Murray Director Of Gift Planning | 40 | $135,671 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Uva Investment Management Company Investment Management | 6/29/21 | $1,026,636 |
Alexander Nicholson Inc Construction | 6/29/21 | $477,492 |
Colliers International Asset Services L Building Maintenance | 6/29/21 | $117,918 |
Journey Group Inc Marketing & Communication | 6/29/21 | $111,225 |
Uva Investment Management Company Investment Management | 6/29/21 | $1,026,636 |
Alexander Nicholson Inc Construction | 6/29/21 | $477,492 |
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 | $34,505,149 |
| Noncash contributions included in lines 1a–1f | $1,047,613 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,505,149 |
| Total Program Service Revenue | $0 |
| 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 organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $634,193 |
| 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 | $40,246 |
| 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 |
| Net Land, buildings, and equipment | $21,097,529 |
| 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 | $19,220,386 |
| Net assets with donor restrictions | $674,798,753 |
| 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 | $761,742,846 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Jefferson Scholars Foundation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
The Mdc Foundation Charlottesville, VA PURPOSE: GENERAL | $20,000 |
Endowment Analysis
| Beg. Balance | $393,827,943 |
| Earnings | $190,586,339 |
| Admin Expense | $840,178 |
| Net Contributions | $20,199,128 |
| Other Expense | $9,179,753 |
| Grants | $11,512,027 |
| Ending Balance | $583,081,452 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amalgamated Charitable Foundation Inc Washington, DC | $125,777,725 | $193,710,226 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Homefree Usa Inc Landover, MD | $5,280,798 | $17,895,333 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
Helvetas Usa Washington, DC | $584,936 | $9,906,698 |