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← UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE FOUNDATION

Form 990 for tax year 2024

Filed by UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE FOUNDATION.

Totals

Total revenue
$75,767,284
Total expenses
$46,120,948
Contributions and grants received
$42,509,503
Grants paid
$30,175,244
Program service revenue
$12,656,670
Investment income
$20,599,113
Other revenue
$1,998
Total assets, end of year
$419,451,004
Total liabilities, end of year
$14,214,254
Net assets or fund balances, end of year
$405,236,750
Program services expenses (Part IX)
$31,821,985
Management and general expenses
$3,313,994
Fundraising expenses
$10,984,969
Program service expenses (Part III)
$31,821,985

Program services were 69.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $42,509,503

  • 1g · Noncash contributions included above

    $2,268,857

  • 2a · Program service revenue: SERVICE AGREEMENT - UNI SUPPORT

    total $12,621,442 · related or exempt $12,621,442

  • 2b · Program service revenue: ALUMNI ACTIVITIES

    total $35,228 · related or exempt $35,228

  • 3 · Investment income

    total $15,356,859 · excluded $15,356,859

  • 5 · Royalties

    total $1,998 · unrelated business $1,998

  • 7a · Gross sales of assets other than inventory

    securities $31,773,454

  • 7b · Less cost or other basis and sales expenses

    securities $26,531,200

  • 7c · Gain or loss

    securities $5,242,254

  • 7d · Net gain or loss

    total $5,242,254 · excluded $5,242,254

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,175,244 · program services $30,175,244

  • 5 · Compensation of officers, directors and key employees

    total $1,791,105 · program services $50,184 · management and general $885,765 · fundraising $855,156

  • 7 · Other salaries and wages

    total $7,493,989 · program services $717,143 · management and general $778,263 · fundraising $5,998,583

  • 8 · Pension plan contributions

    total $711,085 · program services $66,171 · management and general $75,198 · fundraising $569,716

  • 9 · Other employee benefits

    total $1,757,326 · program services $161,884 · management and general $214,579 · fundraising $1,380,863

  • 10 · Payroll taxes

    total $648,011 · program services $53,840 · management and general $109,277 · fundraising $484,894

  • 11a · Fees: management

    total $123,765 · management and general $123,765

  • 11b · Fees: legal

    total $24,567 · management and general $24,567

  • 11c · Fees: accounting

    total $120,944 · management and general $120,944

  • 11f · Fees: investment management

    total $11,010 · management and general $11,010

  • 12 · Advertising and promotion

    total $146,041 · program services $79,319 · management and general $20,214 · fundraising $46,508

  • 13 · Office expenses

    total $841,192 · program services $54,226 · management and general $202,478 · fundraising $584,488

  • 14 · Information technology

    total $619,723 · program services $116,928 · management and general $138,950 · fundraising $363,845

  • 16 · Occupancy

    total $48,097 · program services $11,189 · management and general $29,822 · fundraising $7,086

  • 17 · Travel

    total $479,982 · program services $35,736 · management and general $65,140 · fundraising $379,106

  • 19 · Conferences, conventions and meetings

    total $570,755 · program services $196,986 · management and general $134,844 · fundraising $238,925

  • 22 · Depreciation, depletion and amortization

    total $363,071 · program services $103,642 · management and general $171,441 · fundraising $87,988

  • 23 · Insurance

    total $207,839 · management and general $207,839

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total -$12,798 · program services -$507 · management and general -$102 · fundraising -$12,189

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,852,257 · end of year $1,940,868

  • 2 · Savings and temporary cash investments

    beginning of year $31,231,297 · end of year $51,748,698

  • 3 · Pledges and grants receivable

    beginning of year $13,225,805 · end of year $11,884,337

  • 4 · Accounts receivable

    beginning of year $684,793 · end of year $601,069

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $723,730 · end of year $693,281

  • 10a · Land, buildings and equipment: cost or other basis

    $23,915,355

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,032,281

  • 10c · Land, buildings and equipment, net

    beginning of year $22,846,146 · end of year $20,883,074

  • 11 · Investments: publicly traded securities

    beginning of year $55,772,430 · end of year $81,692,085

  • 12 · Investments: other securities

    beginning of year $251,068,443 · end of year $249,933,362

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $129,007 · end of year $74,230

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,894,307 · end of year $10,439,018

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $3,997,693 · end of year $3,775,236

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $19,774,837 · end of year $23,201,618

  • 28 · Net assets with donor restrictions

    beginning of year $345,867,071 · end of year $382,035,132

Mission and programs · 2024

Mission

THE MISSION OF THE UVM FOUNDATION IS TO SECURE AND MANAGE PRIVATE SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT.

  • THE FOUNDATION'S PRIMARY FUNCTION IS TO RAISE, RECEIVE, AND MANAGE FUNDS FOR SCHOLARSHIPS, PROFESSORSHIPS, AND FACILITIES AND OTHER SUPPORT FOR THE BENEFIT OF THE UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE AND BY OTHERWISE PERFORMING SUPPORT FUNCTIONS THAT CARRY OUT ITS CHARITABLE, SCIENTIFIC, EDUCATIONAL, OR OTHER EXEMPT PURPOSES.

    Expenses $30,175,244 · Grants $30,175,244 · Revenue $12,621,442

  • ALUMNI ARE OFFERED OPPORTUNITIES TO ATTEND SOCIAL AND EDUCATIONAL EVENTS FOR AN ADMISSION FEE THAT COVERS, AT THE MOST, DIRECT EXPENSES, BUT NEVER COVERS ALL EXPENSES. EVENTS INCLUDE ALUMNI REUNIONS, HOMECOMINGS, BASEBALL GAMES, TENNIS MATCHES, DANCES, ETC.

    Expenses $1,646,741 · Revenue $35,228

As filed on the 2024 return.

Listed in Part VII

  • MONICA DELISA

    DIRECTOR/EX OFFICIO/FNDN PRES

    Total calculated
    $471,972
    From this org
    $407,173
    From related orgs
    $0
    Other
    $64,799
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $388,199
    Bonus
    $0
    Other
    $18,974
    Deferred
    $34,500
    Nontaxable benefits
    $30,299
    Filer's total
    $471,972

  • HOWARD AVERILL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CYNTHIA BARNHART BEG 325

    DIRECTOR/EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • LYDIA BATES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GEORGE BEITZEL BEG 724

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT P BRENNAN JR

    DIRECTOR/VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • ERIC BURT BEG 724

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHELE COHEN END 625

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROGER CRANDALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SURESH GARIMELLA END 924

    DIRECTOR/EX OFFICIO/UNIV PRES

    Total calculated
    $0
    Hours/week
    2

  • VITO IMBASCIANI END 625

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATHARINE LAUD

    DIRECTOR/EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • THOMAS LEAVITT III

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • RON LUMBRA END 325

    DIRECTOR/EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH MCANENY END 625

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    3

  • DONALD H MCCREE III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAREN NYSTROM MEYER BEG 724

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRISTINA PISANELLI BEG 724

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALICE PLANTE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT PLANTE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATRICIA PRELOCK BEG 1024

    DIRECTOR/EX OFFICIO/UNIV PRES

    Total calculated
    $0
    Hours/week
    2

  • H DAVID REINES BEG 724

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RAY ROBERTS END 1224

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARA SAULE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DIANE L SEDER

    FNDN CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • SCOTT SEGAL BEG 724

    DIRECTOR/SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • LISA SNOW BEG 724

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CATHY TREMBLAY END 625

    DIRECTOR/EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • CYMA ZARGHAMI END 625

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANDREW FLEWELLING

    VP & CHIEF PEOPLE OFFICER

    Total calculated
    $313,107
    From this org
    $253,247
    From related orgs
    $0
    Other
    $59,860
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,778
    Bonus
    $0
    Other
    $28,469
    Deferred
    $25,742
    Nontaxable benefits
    $34,118
    Filer's total
    $313,107

  • MARK METIVIER

    VP & CFO

    Total calculated
    $307,568
    From this org
    $265,287
    From related orgs
    $0
    Other
    $42,281
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,287
    Bonus
    $25,000
    Other
    $0
    Deferred
    $29,300
    Nontaxable benefits
    $12,981
    Filer's total
    $307,568

  • KATHLEEN DESJARDINS

    VP & CHIEF INFORMATION OFFICER

    Total calculated
    $307,284
    From this org
    $254,364
    From related orgs
    $0
    Other
    $52,920
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,364
    Bonus
    $0
    Other
    $0
    Deferred
    $28,481
    Nontaxable benefits
    $24,439
    Filer's total
    $307,284

  • JOHN HILTON

    HONORARY FNDN CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • JAMES R KELLER

    HONORARY FNDN CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN KELLEHER

    VP & CHIEF DEVELOPMENT OFFICER

    Total calculated
    $380,673
    From this org
    $321,082
    From related orgs
    $0
    Other
    $59,591
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,082
    Bonus
    $22,000
    Other
    $0
    Deferred
    $35,152
    Nontaxable benefits
    $24,439
    Filer's total
    $380,673

  • JOSEPH CAPORALE

    ASSISTANT VP DEV/CORPS & FNDNS

    Total calculated
    $251,148
    From this org
    $206,348
    From related orgs
    $0
    Other
    $44,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,679
    Bonus
    $4,900
    Other
    $10,769
    Deferred
    $20,282
    Nontaxable benefits
    $24,518
    Filer's total
    $251,148

  • ALAN RYEA

    ASSISTANT VP OF DEVELOPMENT

    Total calculated
    $223,398
    From this org
    $188,659
    From related orgs
    $0
    Other
    $34,739
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,859
    Bonus
    $4,800
    Other
    $0
    Deferred
    $21,758
    Nontaxable benefits
    $12,981
    Filer's total
    $223,398

  • CHRISTOPHER BERNIER

    ASSISTANT VP OF DEVELOPMENT

    Total calculated
    $238,315
    From this org
    $184,939
    From related orgs
    $0
    Other
    $53,376
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,139
    Bonus
    $4,800
    Other
    $0
    Deferred
    $19,258
    Nontaxable benefits
    $34,118
    Filer's total
    $238,315

  • MARK MORRISON

    ASSISTANT VP OF DEVELOPMENT

    Total calculated
    $214,849
    From this org
    $179,897
    From related orgs
    $0
    Other
    $34,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,097
    Bonus
    $9,800
    Other
    $0
    Deferred
    $18,405
    Nontaxable benefits
    $16,547
    Filer's total
    $214,849

  • DANIELLE ALTENBURG

    DIRECTOR OF PRINCIPAL GIFTS

    Total calculated
    $179,087
    From this org
    $159,612
    From related orgs
    $0
    Other
    $19,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,512
    Bonus
    $4,100
    Other
    $0
    Deferred
    $15,961
    Nontaxable benefits
    $3,514
    Filer's total
    $179,087

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
TWO DIRECTORS ALONG WITH STAFF AND VOLUNTEERS UTILIZED CHARTER TRAVEL ONCE DURING THE YEAR.
PART I, LINE 7
ONE OFFICER, ONE KEY EMPLOYEE, AND FIVE HIGHEST COMPENSATED EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A, LINE A RECEIVED A ONE-TIME BONUS AS REPORTED IN PART II, COLUMN B(II).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2024
Filed
4 May 2026
IRS schema version
2024v5.5
Source object
202601259349302800

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