The George Washington Foundation
- Assets
- $36.5m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 72
- Location
- Fredericksburg, VA
- Founding
- 12/1931
- Data as of
- 12/2023
- EIN
- 54-0525507
Organization Overview
The George Washington Foundation is located in Fredericksburg, VA. The organization was established in 1931. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, George Washington Foundation employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. George 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 12/2023, George Washington Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
THE MISSION OF THE GEORGE WASHINGTON FOUNDATION IS TO ENHANCE THE PUBLIC UNDERSTANDING OF THE LIVES, VALUES, AND LEGACIES OF GEORGE WASHINGTON, FIELDING AND BETTY WASHINGTON LEWIS AND THEIR FAMILY MEMBERS, PARTICULARLY IN THE BROADER CONTEXT OF THE CULTURE OF THE FREDERICKSBURG, VIRGINIA AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARCHAEOLOGY DEPARTMENT IS RESPONSIBLE FOR CONDUCTING ARCHAEOLOGICAL EXCAVATIONS AT FERRY FARM AND KENMORE. IT ALSO CONDUCTS HISTORICAL RESEARCH AND STUDIES THE RECOVERED MATERIAL GOODS LEFT BEHIND BY OTHERS INCLUDING THE WASHINGTON FAMILY AND THEIR ENSLAVED WORKERS, NATIVE AMERICANS, PARTICIPANTS IN THE BATTLE OF FREDERICKSBURG, AND OTHERS. THE RESEARCH CONDUCTED BY THE DEPARTMENT INFORMS EXHIBITS, THE FOUNDATION'S WEB PAGE, PUBLICATIONS, PUBLIC TALKS AND EDUCATIONAL PROGRAMMING.
THE EDUCATION DEPARTMENT PROVIDES EDUCATIONAL PROGRAMING FOR LEARNERS OF ALL AGES BY OFFERING DAILY TOURS FOR VISITORS TO THE PROPERTIES, SPECIAL TOURS FOR SCHOOL GROUPS, SPECIAL EVENTS FOR THE GENERAL PUBLIC, LECTURES, AND SUMMER WORKSHOPS FOR YOUNG CHILDREN, HIGH SCHOOL AND COLLEGE STUDENTS, FAMILIES, AND ELDER STUDY MEMBERS.
THE CURATORIAL DEPARTMENT DOCUMENTS, RESEARCHES, CONSERVES AND INTERPRETS THE FOUNDATION'S COLLECTIONS OF 18TH AND 19TH CENTURY OBJECTS AND MANUSCRIPTS, THE MOST IMPORTANT OF WHICH IS KENMORE, THE GEORGIAN HOUSE BUILT BY BETTY AND FIELDING LEWIS IN THE 18TH CENTURY. AS SUCH, THE CURATORIAL DEPARTMENT IS ALSO RESPONSIBLE FOR ANY PRESERVATION-BASED MAINTENANCE, REPAIR OR RESTORATION NECESSARY AT KENMORE, INCLUDING THE MONITORING OF THE INTERIOR ENVIRONMENTAL CONTROL SYSTEMS. THESE RESPONSIBILITIES ARE CARRIED OUT IN CONSULTATION WITH THE PROPERTIES DEPARTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William E Garner President | OfficerTrustee | 40 | $191,863 |
Lucy G Harman Secretary | OfficerTrustee | 1 | $0 |
Donald H Newlin Treasurer | OfficerTrustee | 1 | $0 |
Fielding L Cocke Vice Chair | OfficerTrustee | 1 | $0 |
Ronald E Davis Chair | OfficerTrustee | 1 | $0 |
Marian K Anklam Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $12,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,118,256 |
| Noncash contributions included in lines 1a–1f | $107,793 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,130,756 |
| Total Program Service Revenue | $250,302 |
| Investment income | $324,401 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $507,135 |
| Net Income from Fundraising Events | $5,383 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,163 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,238,621 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,182,492 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $162,407 |
| Payroll taxes | $85,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,194 |
| Fees for services: Other | $95,614 |
| Advertising and promotion | $9,989 |
| Office expenses | $0 |
| Information technology | $25,467 |
| Royalties | $0 |
| Occupancy | $59,396 |
| Travel | $4,396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,036 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $604,324 |
| Insurance | $45,325 |
| All other expenses | $20,163 |
| Total functional expenses | $2,506,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,749 |
| Savings and temporary cash investments | $165,281 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,741 |
| Prepaid expenses and deferred charges | $16,607 |
| Net Land, buildings, and equipment | $17,750,323 |
| Investments—publicly traded securities | $15,497,302 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,454,688 |
| Total assets | $36,518,691 |
| Accounts payable and accrued expenses | $103,577 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $270,958 |
| Total liabilities | $374,535 |
| Net assets without donor restrictions | $22,526,346 |
| Net assets with donor restrictions | $13,617,810 |
| 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 | $36,518,691 |