University Of Mary Washington Foundation
- Assets
- $108.5m
- Revenue
- $11.0m
- Investments
- $7.7m
- Employees
- 5
- Location
- Fredericksburg, VA
- Founding
- 12/1975
- Data as of
- 06/2022
- EIN
- 54-0169627
Organization Overview
University Of Mary Washington Foundation is located in Fredericksburg, VA. The organization was established in 1975. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, University Of Mary Washington Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Mary Washington 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 Mary Washington Foundation generated $11.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $7.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, University Of Mary Washington Foundation has awarded 18 individual grants totaling $40,427,335. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE, HOLD, AND ADMINISTER FUNDS AND PROPERTY OF ALL KINDS, FOR THE FURTHERANCE OF THE OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON.
Describe the Organization's Program Activity:
THE UMW FOUNDATION SERVES AS THE PRIVATE ASSET MANAGER FOR THE UNIVERSITY OF MARY WASHINGTON. THE FOUNDATION MANAGES ALL OF THE UNIVERSITY'S PRIVATELY DONATED CASH AND INVESTMENTS AS WELL AS BEING ENGAGED IN REAL ESTATE ACQUISITION, DEVELOPMENT AND MANAGEMENT ON BEHALF OF THE INSTITUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward V Allison Jr Chair | OfficerTrustee | 0.3 | $0 |
Kathleen S Mehfoud Immediate Past Chair | OfficerTrustee | 0.3 | $0 |
Dori Eglevsky Vice-Chair | OfficerTrustee | 0.3 | $0 |
Robert J Barry Secretary | OfficerTrustee | 0.3 | $0 |
Abas Adenan Director | Trustee | 0.1 | $0 |
Mona D Albertine Director | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Artemis Wealth Advisors Llc Investment Consulting | 6/29/22 | $463,937 |
Tennis Courts Inc Tennis Court Resurfacing And Repair | 6/29/22 | $141,637 |
Hirschler Legal Services | 6/29/22 | $118,578 |
Enterprise Screen Communications Inc Video Recording Services & Equipment | 6/29/22 | $106,300 |
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 | $8,289,492 |
| Noncash contributions included in lines 1a–1f | $2,389,204 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,289,492 |
| Total Program Service Revenue | $305,291 |
| Investment income | $1,562,314 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$154,304 |
| Net Gain/Loss on Asset Sales | $38,079 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,995,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,104,015 |
| 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. | $477,474 |
| Compensation of current officers, directors, key employees. | $477,474 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $753,820 |
| Pension plan accruals and contributions | $14,250 |
| Other employee benefits | $50,596 |
| Payroll taxes | $42,400 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,906 |
| Fees for services: Accounting | $93,834 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $519,981 |
| Fees for services: Other | $0 |
| Advertising and promotion | $536 |
| Office expenses | $54,475 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $171 |
| Travel | $56,363 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,459 |
| Interest | $507,367 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,221 |
| Insurance | $152,510 |
| All other expenses | $173,941 |
| Total functional expenses | $7,573,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,589,492 |
| Savings and temporary cash investments | $543,427 |
| Pledges and grants receivable | $648,894 |
| Accounts receivable, net | $1,069,818 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $75,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $217,519 |
| Net Land, buildings, and equipment | $42,913,004 |
| Investments—publicly traded securities | $46,778,589 |
| Investments—other securities | $7,695,546 |
| Investments—program-related | $0 |
| Intangible assets | $265,175 |
| Other assets | $669,958 |
| Total assets | $108,466,422 |
| Accounts payable and accrued expenses | $259,416 |
| Grants payable | $0 |
| Deferred revenue | $81,310 |
| Tax-exempt bond liabilities | $1,645,548 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $36,807,062 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,409,516 |
| Total liabilities | $41,202,852 |
| Net assets without donor restrictions | -$4,674,275 |
| Net assets with donor restrictions | $71,937,845 |
| 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 | $108,466,422 |
Grants Awarded
Over the last fiscal year, University Of Mary Washington Foundation has awarded $4,104,015 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MARY WASHINGTON PURPOSE: STUDENT SCHOLARSHIPS, FACULTY AWARDS AND OTHER SUPPORT OF UNIVERSITY SERVICES | $3,758,150 |
UNIVERSITY OF MARY WASHINGTON ALUMNI ASSOCIATION PURPOSE: DONATION TO SUPPORT UNIVERSITY SERVICES AND PROGRAMS | $345,865 |