Skip to content
Nonprofiteer
← JEFFERSON SCHOLARS FOUNDATION

Form 990 for tax year 2023

Filed by JEFFERSON SCHOLARS FOUNDATION.

Totals

Total revenue
$33,151,366
Total expenses
$32,396,019
Contributions and grants received
$32,723,055
Grants paid
$19,820,294
Program service revenue
$0
Investment income
$842,581
Other revenue
-$414,270
Total assets, end of year
$813,049,948
Total liabilities, end of year
$85,763,302
Net assets or fund balances, end of year
$727,286,646
Program services expenses (Part IX)
$25,425,429
Management and general expenses
$4,104,804
Fundraising expenses
$2,865,786
Program service expenses (Part III)
$25,425,429

Program services were 78.5% 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

    $32,723,055

  • 1g · Noncash contributions included above

    $456,212

  • 3 · Investment income

    total $844,442 · unrelated business $208,766 · excluded $635,676

  • 6a · Gross rents

    real property $1,388,028

  • 6b · Less rental expenses

    real property $1,802,298

  • 6c · Rental income or loss

    real property -$414,270

  • 6d · Net rental income or loss

    total -$414,270 · unrelated business -$395,721 · excluded -$18,549

  • 7a · Gross sales of assets other than inventory

    securities $4,500,387

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

    securities $4,502,248

  • 7c · Gain or loss

    securities -$1,861

  • 7d · Net gain or loss

    total -$1,861 · excluded -$1,861

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $18,851,716 · program services $18,851,716

  • 3 · Grants to foreign organizations and individuals

    total $968,578 · program services $968,578

  • 5 · Compensation of officers, directors and key employees

    total $2,522,216 · program services $488,450 · management and general $743,353 · fundraising $1,290,413

  • 7 · Other salaries and wages

    total $1,304,749 · program services $723,569 · management and general $365,081 · fundraising $216,099

  • 8 · Pension plan contributions

    total $409,236 · program services $126,816 · management and general $121,372 · fundraising $161,048

  • 9 · Other employee benefits

    total $794,314 · program services $226,147 · management and general $216,126 · fundraising $352,041

  • 10 · Payroll taxes

    total $245,874 · program services $80,302 · management and general $71,744 · fundraising $93,828

  • 11b · Fees: legal

    total $7,882 · management and general $7,882

  • 11c · Fees: accounting

    total $60,000 · management and general $60,000

  • 11f · Fees: investment management

    total $1,724,350 · management and general $1,724,350

  • 11g · Fees: other

    total $41,885 · program services $8,816 · management and general $22,602 · fundraising $10,467

  • 13 · Office expenses

    total $314,556 · program services $156,692 · management and general $75,051 · fundraising $82,813

  • 14 · Information technology

    total $139,983 · program services $46,661 · management and general $46,661 · fundraising $46,661

  • 16 · Occupancy

    total $789,703 · program services $583,622 · management and general $77,617 · fundraising $128,464

  • 17 · Travel

    total $199,062 · program services $3,468 · management and general $3,114 · fundraising $192,480

  • 19 · Conferences, conventions and meetings

    total $122,069 · management and general $122,069

  • 20 · Interest

    total $1,142,156 · program services $875,929 · management and general $131,754 · fundraising $134,473

  • 22 · Depreciation, depletion and amortization

    total $977,562 · program services $749,701 · management and general $112,767 · fundraising $115,094

  • 23 · Insurance

    total $129,634 · management and general $129,634

  • 24a · Other expenses: SCHOLAR ENRICHMENT

    total $1,007,602 · program services $1,007,602

  • 24b · Other expenses: SCHOLARSHIP SELECTION

    total $522,121 · program services $522,121

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $75,830 · program services $5,239 · management and general $39,326 · fundraising $31,265

  • 24d · Other expenses: BANK FEES

    total $22,846 · management and general $22,846

  • 24e · All other expenses

    total $22,095 · management and general $11,455 · fundraising $10,640

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $25,113,441 · end of year $27,187,877

  • 3 · Pledges and grants receivable

    beginning of year $60,608,949 · end of year $62,430,402

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,059,800 · end of year $1,097,650

  • 7 · Other notes and loans receivable

    beginning of year $2,600,000 · end of year $2,600,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $554,900 · end of year $705,155

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

    $30,843,961

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

    $11,815,019

  • 10c · Land, buildings and equipment, net

    beginning of year $19,847,389 · end of year $19,028,942

  • 12 · Investments: other securities

    beginning of year $569,932,931 · end of year $603,671,960

  • 15 · Other assets

    beginning of year $84,972,026 · end of year $96,327,962

  • 17 · Accounts payable and accrued expenses

    beginning of year $524,181 · end of year $821,760

  • 18 · Grants payable

    beginning of year $46,685,330 · end of year $49,434,202

  • 20 · Tax-exempt bond liabilities

    beginning of year $22,500,000 · end of year $22,500,000

  • 24 · Unsecured notes and loans payable

    beginning of year $9,919,563 · end of year $9,769,530

  • 25 · Other liabilities

    beginning of year $4,152,589 · end of year $3,237,810

  • 27 · Net assets without donor restrictions

    beginning of year $21,638,153 · end of year $22,353,951

  • 28 · Net assets with donor restrictions

    beginning of year $659,269,620 · end of year $704,932,695

Mission and programs · 2023

Mission

THE JEFFERSON SCHOLARS FOUNDATION (FOUNDATION) PROVIDES ACADEMIC MERIT-BASED SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP SUPPORT TO STUDENTS AND FACULTY AT THE UNIVERSITY OF VIRGINIA (UVA).

  • SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAM IN SUPPORT OF UVA.THE FOUNDATION AWARDS ACADEMIC MERIT-BASED SCHOLARSHIPS TO UNDERGRADUATES THAT COVER THE FULL ESTIMATED COST OF ATTENDING UVA FOR FOUR YEARS. THE FOUNDATION ALSO AWARDS ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO PHD AND MBA CANDIDATES AND TO NATIONAL FELLOWS. DURING FISCAL YEAR 2024, THE FOUNDATION SUPPORTED 176 UNDERGRADUTE SCHOLARS, 55 GRADUATE FELLOWS, AND 5 NATIONAL FELLOWS. THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 7 UVA PROFESSORS AND PROVIDED SUPPORT FOR 9 GRADUATE STUDENTS WORKING WITH THE PROFESSORS. THE FOUNDATION ALSO OFFERED SEVERAL MERIT- AND NEED-BASED AWARDS TO UNDERGRADUATE FINALISTS. ADDITIONALLY, THE FOUNDATION AWARDED A VARIETY OF FACULTY PRIZES ANNUALLY TO DISTINGUISHED FACULTY MEMBERS BASED ON EXCELLENCE IN TEACHING AND SCHOLARSHIP. OVERALL, THE FOUNDATION PROVIDED FINANCIAL SUPPORT TO 336 STUDENTS AND FACULTY.

    Expenses $25,425,429 · Grants $19,820,294

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William L Polk Jr

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    3

  • Franklin S Edmonds Jr

    VICE-CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    3

  • Karen Clarke Barnes

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • Shahnaz Batmanghelidj

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • T Westray Battle III

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Leonard J Buck II

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Robert G Byron

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • Stephen S Crawford

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Merry W Dougherty

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Robert W Downes

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • Kirkman Finlay III

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Raynelle Deans Grace

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Brown Gwilliam

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • J Dale Harvey II

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Tyler S Henritze

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Lawrence D Howell II

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Paul R Izlar

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • E Courtney Johnson

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Mark T Massey

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Bruce A Miller

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • Timothy J Naughton

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • Anna M Nekoranec

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • Robert S Pitts Jr

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Anne W Poole

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Linda G Renner

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Dave Stevens

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Deborah H Valentine

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • James E Ryan

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Thomas Bw Hall

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • Allison Cryor Dinardo

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • James H Wright

    PRESIDENT/SECRETARY/TREASU

    Total calculated
    $1,558,827
    From this org
    $1,217,967
    From related orgs
    $0
    Other
    $340,860
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $527,168
    Bonus
    $130,375
    Other
    $560,424
    Deferred
    $321,250
    Nontaxable benefits
    $19,610
    Filer's total
    $1,558,827

  • Helen M Dwyer

    ASSISTANT SECRETARY

    Total calculated
    $245,427
    From this org
    $211,353
    From related orgs
    $0
    Other
    $34,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,451
    Bonus
    $18,987
    Other
    $915
    Deferred
    $26,220
    Nontaxable benefits
    $7,854
    Filer's total
    $245,427

  • Robbyn L Callahan

    ASSISTANT TREASURER

    Total calculated
    $204,475
    From this org
    $163,910
    From related orgs
    $0
    Other
    $40,565
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,023
    Bonus
    $375
    Other
    $512
    Deferred
    $20,955
    Nontaxable benefits
    $19,610
    Filer's total
    $204,475

  • S Patrick Ingram

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $482,460
    From this org
    $325,004
    From related orgs
    $0
    Other
    $157,456
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,666
    Bonus
    $27,721
    Other
    $19,617
    Deferred
    $133,502
    Nontaxable benefits
    $23,954
    Filer's total
    $482,460

  • Benjamin B Skipper

    DIRECTOR, GRADUATE AND UND

    Total calculated
    $314,415
    From this org
    $215,231
    From related orgs
    $0
    Other
    $99,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,344
    Bonus
    $20,983
    Other
    $13,904
    Deferred
    $76,980
    Nontaxable benefits
    $22,204
    Filer's total
    $314,415

  • Lew Burrus

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $166,181
    From this org
    $130,057
    From related orgs
    $0
    Other
    $36,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,517
    Bonus
    $6,502
    Other
    $1,038
    Deferred
    $16,514
    Nontaxable benefits
    $19,610
    Filer's total
    $166,181

  • Joyce Carman

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $149,789
    From this org
    $127,478
    From related orgs
    $0
    Other
    $22,311
    Hours/week
    40

  • Kevin E Murray

    DIRECTOR OF GIFT PLANNING

    Total calculated
    $197,756
    From this org
    $156,936
    From related orgs
    $0
    Other
    $40,820
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,027
    Bonus
    $375
    Other
    $12,534
    Deferred
    $18,616
    Nontaxable benefits
    $22,204
    Filer's total
    $197,756

  • Christine E Patrick

    ASSOCIATE DIRECTOR OF DEVELOPMENT

    Total calculated
    $160,728
    From this org
    $136,261
    From related orgs
    $0
    Other
    $24,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,293
    Bonus
    $375
    Other
    $3,593
    Deferred
    $16,613
    Nontaxable benefits
    $7,854
    Filer's total
    $160,728

  • Peter W Schmidt

    MAJOR GIFT OFFICER

    Total calculated
    $157,728
    From this org
    $140,653
    From related orgs
    $0
    Other
    $17,075
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,026
    Bonus
    $375
    Other
    $2,252
    Deferred
    $16,208
    Nontaxable benefits
    $867
    Filer's total
    $157,728

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 · Discretionary spending account
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE JEFFERSON SCHOLARS FOUNDATION PROVIDED HEALTH CLUB DUES REIMBURSEMENT TO JAMES H. WRIGHT, S. PATRICK INGRAM, KEVIN E. MURRAY, BENJAMIN B. SKIPPER, AND CHRISTINE E. PATRICK. THIS BENEFIT WAS PROVIDED TO ENHANCE THEIR BENEFIT PACKAGES AND ASSIST IN EMPLOYEE RETENTION.
PART I, LINE 4B
THE FOUNDATION PROVIDED A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN TO S. PATRICK INGRAM. THE AMOUNT PAID INTO THE PLAN WAS $100,000.

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

No itemized grants to organizations on this return.

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.

  • CLARKE COURT APARTMENTS LLC

    RENTAL PROPERTY OWNERSHIP · VA · income $292,407 · assets $1,478,980

    Directly controlled by JEFFERSON SCHOLARS FOUNDATION

  • CLARKE COURT REAL ESTATE HOLDINGS LLC

    REAL ESTATE HOLDING · VA · income $0 · assets $41,204

    Directly controlled by JEFFERSON SCHOLARS FOUNDATION

  • CROSSROADS OF CHARLOTTESVILLE LLC

    RENTAL PROPERTY OWNERSHIP · VA · income $1,095,621 · assets $10,653,114

    Directly controlled by JEFFERSON SCHOLARS FOUNDATION

  • MAURY HOLDINGS LLC

    REAL ESTATE HOLDING · VA · income $0 · assets $4,322,802

    Directly controlled by JEFFERSON SCHOLARS FOUNDATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER UNITRUSTS (6)

    TRUST · VA

    Directly controlled by JSF

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202433109349301553

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.