University Of Mary Washington Foundation
- Assets
- $186.6m
- Revenue
- $19.9m
- Investments
- $7.1m
- Employees
- 5
- Location
- Fredericksburg, VA
- Founding
- 12/1975
- Data as of
- 06/2020
- 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 06/2021, 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 06/2020, University Of Mary Washington Foundation generated $19.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $18.8m during the year ending 06/2020. While expenses have increased by 4.4% 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.
Since 2015, University Of Mary Washington Foundation has awarded 16 individual grants totaling $36,049,105. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
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:
Part 3 - Line 4a
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 |
|---|---|---|---|
Jeff W Rountree CEO | Officer | 65 | $301,879 |
Gregory A Branner Cfo/treasurer | Officer | 60 | $149,385 |
Shannon C Williams Controller | 45 | $100,271 | |
Edward V Allison Jr Chairman | OfficerTrustee | 0.3 | $0 |
Dori Eglevsky Vice Chairman | OfficerTrustee | 0.3 | $0 |
Kathleen S Mehfoud Immediate Past Chairman | OfficerTrustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tennis Courts Inc Tennis Court Resurfacing And Repair | 6/29/21 | $843,095 |
Mindpower Inc Consulting University Branding | 6/29/21 | $295,847 |
Artemis Wealth Advisors Llc Investment Consulting | 6/29/21 | $275,099 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,859,927 |
| Investment income | $713,958 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$231,356 |
| Net Gain/Loss on Asset Sales | $1,174,309 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $31,070 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,915,035 |
| Statement of Expenses | |
|---|---|
| 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. | $548,369 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,677,320 |
| Pension plan accruals and contributions | $109,838 |
| Other employee benefits | $96,306 |
| Payroll taxes | $140,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,389 |
| Fees for services: Accounting | $138,267 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $455,727 |
| Fees for services: Other | $227,009 |
| Advertising and promotion | $325,937 |
| Office expenses | $37,267 |
| Information technology | $215 |
| Royalties | $0 |
| Occupancy | $1,928,861 |
| Travel | $86,674 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $33,116 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,409,236 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,615,655 |
| Insurance | $396,221 |
| All other expenses | $0 |
| Total functional expenses | $18,816,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,024,251 |
| Savings and temporary cash investments | $7,296,990 |
| Pledges and grants receivable | $785,777 |
| Accounts receivable, net | $972,079 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $75,000 |
| Inventories for sale or use | $1,426 |
| Prepaid expenses and deferred charges | $310,641 |
| Investments—publicly traded securities | $44,908,467 |
| Investments—other securities | $7,051,469 |
| Investments—program-related | $0 |
| Intangible assets | $304,861 |
| Other assets | $1,137,273 |
| Total assets | $186,636,934 |
| Accounts payable and accrued expenses | $1,093,498 |
| Grants payable | $0 |
| Deferred revenue | $374,938 |
| Tax-exempt bond liabilities | $77,315,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $48,466,707 |
| Unsecured mortgages and notes payable | $279,320 |
| Other liabilities | $31,538,156 |
| Total liabilities | $159,067,619 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $27,569,315 |
Grants Awarded
Over the last fiscal year, University Of Mary Washington Foundation has awarded $3,626,509 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MARY WASHINGTON PURPOSE: STUDENT SCHOLARSHIPS, FACULTY AWARDS AND OTHER SUPPORT OF UNIVERSITY SERVICES | $3,516,728 |
Fredericksburg, VA PURPOSE: DONATION TO SUPPORT UNIVERSITY SERVICES AND PROGRAMS | $109,781 |
Grants Recieved
Over the last fiscal year, we have identified 27 grants that University Of Mary Washington Foundation has recieved totaling $457,679.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $252,200 |
Community Foundation Of The Rappahannock River Region Inc Fredericksburg, VA PURPOSE: ENDOWMENT GRANT | $51,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $32,175 |
Margaret Walker Purinton Foundation Charlottesville, VA PURPOSE: GARI MELCHER HOME & STUDIO | $24,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $19,528 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $15,100 |
Endowment Analysis
| Beg. Balance | $58,837,581 |
| Earnings | $10,365,338 |
| Net Contributions | $3,520,722 |
| Other Expense | $1,590,198 |
| Ending Balance | $71,133,443 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trinity College Washington, DC | $125,397,773 | $50,706,155 |
Guilford College Greensboro, NC | $214,106,962 | $54,557,208 |
Barton College Wilson, NC | $97,394,035 | $47,073,555 |
Milligan University Milligan, TN | $122,087,054 | $57,184,968 |
West Virginia Wesleyan College Buckhannon, WV | $129,913,530 | $51,877,916 |
Carson-Newman University Jefferson City, TN | $160,428,637 | $65,286,029 |
Tusculum University Greeneville, TN | $114,694,317 | $47,879,632 |
King University Bristol, TN | $69,555,277 | $42,931,439 |
Warren Wilson College Asheville, NC | $113,155,084 | $40,910,763 |
Shaw University Raleigh, NC | $72,503,111 | $66,988,324 |
Livingstone College Salisbury, NC | $87,006,001 | $42,495,436 |
Alderson Broaddus College Inc Philippi, WV | $59,737,963 | $38,055,721 |