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← UNIVERSITY OF VIRGINIA INVESTMENT MANAGEMENT COMPANY

Form 990 for tax year 2024

Filed by UNIVERSITY OF VIRGINIA INVESTMENT MANAGEMENT COMPANY.

Totals

Total revenue
$780,811,330
Total expenses
$32,863,515
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$780,811,330
Other revenue
$0
Total assets, end of year
$16,078,987,884
Total liabilities, end of year
$16,051,352,309
Net assets or fund balances, end of year
$27,635,575
Program services expenses (Part IX)
$26,345,156
Management and general expenses
$6,518,359
Fundraising expenses
$0
Program service expenses (Part III)
$26,345,156

Program services were 80.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ROBERT W DURDEN

    CEO/CIO

    Total calculated
    $5,014,567
    From this org
    $3,915,900
    From related orgs
    $0
    Other
    $1,098,667
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $838,545
    Bonus
    $766,767
    Other
    $2,310,588
    Deferred
    $1,069,213
    Nontaxable benefits
    $29,454
    Filer's total
    $5,014,567

  • E SARGENT MCGOWAN

    MANAGING DIRECTOR END 6/24

    Total calculated
    $2,729,483
    From this org
    $2,683,894
    From related orgs
    $0
    Other
    $45,589
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $240,638
    Bonus
    $525,000
    Other
    $1,918,256
    Deferred
    $31,556
    Nontaxable benefits
    $14,033
    Filer's total
    $2,729,483

  • LINDSAY R LARSEN

    MANAGING DIRECTOR

    Total calculated
    $2,376,453
    From this org
    $1,941,597
    From related orgs
    $0
    Other
    $434,856
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $575,884
    Bonus
    $441,667
    Other
    $924,046
    Deferred
    $419,213
    Nontaxable benefits
    $15,643
    Filer's total
    $2,376,453

  • JASON M LOVE

    MANAGING DIRECTOR

    Total calculated
    $2,154,507
    From this org
    $1,653,267
    From related orgs
    $0
    Other
    $501,240
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $445,973
    Bonus
    $466,667
    Other
    $740,627
    Deferred
    $469,213
    Nontaxable benefits
    $32,027
    Filer's total
    $2,154,507

  • ERIC J BUNDONIS

    MANAGING DIRECTOR

    Total calculated
    $2,028,959
    From this org
    $1,549,694
    From related orgs
    $0
    Other
    $479,265
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $438,781
    Bonus
    $458,333
    Other
    $652,580
    Deferred
    $452,547
    Nontaxable benefits
    $26,718
    Filer's total
    $2,028,959

  • J MATTHEW DORCHUCK

    MANAGING DIRECTOR

    Total calculated
    $1,865,635
    From this org
    $1,435,424
    From related orgs
    $0
    Other
    $430,211
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $398,877
    Bonus
    $433,333
    Other
    $603,214
    Deferred
    $402,547
    Nontaxable benefits
    $27,664
    Filer's total
    $1,865,635

  • KRISTINA M ALIMARD

    CHIEF OPERATING OFFICER

    Total calculated
    $1,575,919
    From this org
    $1,506,876
    From related orgs
    $0
    Other
    $69,043
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $591,837
    Bonus
    $850,000
    Other
    $65,039
    Deferred
    $35,880
    Nontaxable benefits
    $33,163
    Filer's total
    $1,575,919

  • JOHN M WINN

    GEN CNSL/CCO & SECRETARY

    Total calculated
    $1,503,249
    From this org
    $1,301,098
    From related orgs
    $0
    Other
    $202,151
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $410,062
    Bonus
    $319,167
    Other
    $571,869
    Deferred
    $169,213
    Nontaxable benefits
    $32,938
    Filer's total
    $1,503,249

  • ADRIENNE C CLOUGH

    MANAGING DIRECTOR

    Total calculated
    $1,490,177
    From this org
    $1,136,790
    From related orgs
    $0
    Other
    $353,387
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $435,000
    Bonus
    $408,333
    Other
    $293,457
    Deferred
    $352,547
    Nontaxable benefits
    $840
    Filer's total
    $1,490,177

  • ALLISON P GILLAM

    CHIEF FINANCIAL OFFICER

    Total calculated
    $1,193,417
    From this org
    $973,219
    From related orgs
    $0
    Other
    $220,198
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $351,182
    Bonus
    $325,000
    Other
    $297,037
    Deferred
    $185,880
    Nontaxable benefits
    $34,318
    Filer's total
    $1,193,417

  • JENNIFER W DAVIS

    DIRECTOR

    Total calculated
    $997,376
    From this org
    $0
    From related orgs
    $804,743
    Other
    $192,633
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $723,359 related
    Bonus
    $0 + $72,293 related
    Other
    $0 + $9,091 related
    Deferred
    $0 + $145,786 related
    Nontaxable benefits
    $0 + $46,847 related
    Filer's total
    $0 + $997,376 related

  • ROBERT S HAMEL

    DIRECTOR

    Total calculated
    $809,695
    From this org
    $661,313
    From related orgs
    $0
    Other
    $148,382
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,891
    Bonus
    $300,000
    Other
    $98,422
    Deferred
    $130,145
    Nontaxable benefits
    $18,237
    Filer's total
    $809,695

  • BLAKE A FISCHER

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $662,821
    From this org
    $602,473
    From related orgs
    $0
    Other
    $60,348
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $276,407
    Bonus
    $325,000
    Other
    $1,066
    Deferred
    $31,255
    Nontaxable benefits
    $29,093
    Filer's total
    $662,821

  • JEFFERY M BARNES

    DIRECTOR

    Total calculated
    $454,402
    From this org
    $394,134
    From related orgs
    $0
    Other
    $60,268
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $241,573
    Bonus
    $151,500
    Other
    $1,061
    Deferred
    $28,850
    Nontaxable benefits
    $31,418
    Filer's total
    $454,402

  • SHI LIU

    SENIOR ASSOCIATE

    Total calculated
    $413,194
    From this org
    $378,879
    From related orgs
    $0
    Other
    $34,315
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $228,436
    Bonus
    $150,000
    Other
    $443
    Deferred
    $27,370
    Nontaxable benefits
    $6,945
    Filer's total
    $413,194

  • JOHN P CONNAUGHTON

    CHAIR - BOD BEG 7/24

    Total calculated
    $0
    Hours/week
    2

  • MITCHELL R COHEN

    DIRECTOR (FORMER CHAIR - BOD)

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY P O'HARA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • HENRY H MCVEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • THOMAS J BALTIMORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ANDREW T MULDERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JAMES B MURRAY JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • GEORGE K MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ELIZABETH K WEYMOUTH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RICHARD TED WESCHLER

    DIRECTOR BEG 7/24

    Total calculated
    $0
    Hours/week
    2

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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)

SCHEDULE J, PART I, LINE 1A
IN LIMITED CIRCUMSTANCES, THE USE OF FIRST-CLASS AIRFARE WAS APPROVED FOR THE PURPOSE OF TRAVELING TO UVIMCO BUSINESS MEETINGS. THESE TRAVEL EXPENSES ARE INCURRED FOR BUSINESS PURPOSES AND ARE NOT TREATED AS TAXABLE COMPENSATION.
SCHEDULE J, PART I, LINE 3
UVIMCO'S COMPENSATION PROGRAM IS RIGOROUSLY BENCHMARKED AGAINST PEER INSTITUTIONS THROUGH INDEPENDENT SURVEYS, GUIDANCE FROM EXTERNAL CONSULTANTS, AND OVERSIGHT BY A DEDICATED COMPENSATION COMMITTEE OF THE BOARD. THIS COMPREHENSIVE APPROACH ENSURES THAT COMPENSATION REMAINS COMPETITIVE AND ALIGNED WITH THE ORGANIZATION'S GOALS.
SCHEDULE J, PART I, LINE 4A
E. SARGENT MCGOWAN TERMINATED EMPLOYMENT IN JUNE 2024 AND RECEIVED A SEVERANCE PAYMENT OF $163,333 UNDER THE TERMS OF A WRITTEN SEPARATION AGREEMENT. THIS AMOUNT IS INCLUDED IN PART II, COLUMN B (III), OTHER REPORTATABLE COMPENSATION.
SCHEDULE J, PART I, LINE 4B
IN CALENDAR YEAR 2024, UVIMCO MADE PAYMENTS FROM THE UVIMCO INCENTIVE COMPENSATION PLAN, A NONQUALIFIED INCENTIVE PLAN UNDER IRC SECTION 457(F). CALCULATION OF LONG-TERM INCENTIVE COMPENSATION IS BASED ON UVIMCO'S NET THREE-YEAR PERFORMANCE, VERSUS POLICY PORTFOLIO. CALENDAR YEAR 2024 COMPENSATION REPORTED IN PART II RELATED TO THE UVIMCO INCENTIVE COMPENSATION PLAN IS DETAILED BELOW: PARTICIPANT PART II, PART II, PART II, COL B(III) COL C COL F OTHER REPORTABLE DEFERRED (REPORTED ON COMPENSATION COMP. PRIOR FORM 990) ROBERT W. DURDEN $2,308,766 - $2,134,673 E. SARGENT MCGOWAN 1,692,341 - 1,569,286 LINDSAY R. LARSEN 923,506 - 853,869 JASON M. LOVE 738,805 - 683,095 ERIC J. BUNDONIS 651,459 - 603,095 J. MATTHEW DORCHUCK 602,782 - 557,708 ADRIENNE C. CLOUGH 292,067 - 272,321 ROBERT S. HAMEL 97,355 - 90,774 IN CALENDAR YEAR 2024, UVIMCO DEFERRED CERTAIN DISCRETIONARY CASH BONUSES UNDER TERMS OF A DEFERRED COMPENSATION AGREEMENT UNDER IRC SECTION 457(F). AMOUNTS DEFERRED UNDER THE AGREEMENT ARE REPORTED IN COLUMN C, RETIREMENT AND OTHER DEFERRED COMPENSATION, AS DETAILED BELOW: PARTICIPANT PART II, PART II, PART II, COL B(III) COL C COL F OTHER REPORTABLE DEFERRED (REPORTED ON COMPENSATION COMP. PRIOR FORM 990) ROBERT W. DURDEN - $1,033,333 - E. SARGENT MCGOWAN 3,247 - - LINDSAY R. LARSEN - 383,333 - JASON M. LOVE - 433,333 - ERIC J. BUNDONIS - 416,667 - J. MATTHEW DORCHUCK - 366,667 - KRISTINA M. ALIMARD 63,217 - - JOHN M. WINN 570,479 133,333 550,000 ADRIENNE C. CLOUGH - 316,667 - ALLISON P. GILLAM 295,917 150,000 281,667 ROBERT S. HAMEL - 100,000 - IRS REGULATIONS REQUIRE THAT WHEN DEFERRED COMPENSATION IS NO LONGER AT RISK OF FORFEITURE IT MUST BE INCLUDED IN AN INDIVIDUAL'S REPORTABLE INCOME FOR THAT TAX YEAR, EVEN WHEN THE COMPENSATION WILL BE PAID IN LATER YEARS. DEFERRED COMPENSATION FOR KRISTINA M. ALIMARD AND E. SARGENT MCGOWAN EXCLUDES DEFERRED COMPENSATION THAT WAS TAXABLE BUT NOT DISTRIBUTABLE IN CALENDAR YEAR 2024. SCHEDULE J, PART II, COLUMN B(III) INCLUDES TAXABLE FRINGE BENEFITS IN ADDITION TO THE IRC SECTION 457(F) AMOUNTS SHOWN ABOVE FOR THE INCENTIVE COMPENSATION PLAN AND DEFERRED COMPENSATION AGREEMENTS. JENNIFER W. DAVIS IS EMPLOYED BY THE UNIVERSITY OF VIRGINIA. SHE PARTICIPATED IN A SUPPLEMENTAL, NONQUALIFIED RETIREMENT PLAN UNDER IRC SECTION 415(M), WHICH IS SPONSORED BY THE UNIVERSITY OF VIRGINIA. AMOUNTS DEFERRED UNDER THE AGREEMENT ARE REPORTED IN COLUMN C, RETIREMENT AND OTHER DEFERRED COMPENSATION.
SCHEDULE J, PART I, LINE 7
CURRENT UVIMCO EMPLOYEES LISTED IN FORM 990, PART VII, SECTION A, LINE 1A WERE ELIGIBLE FOR NON-FIXED PAYMENTS IN THE FORM OF DISCRETIONARY CASH BONUSES BASED ON INDIVIDUAL PERFORMANCE DURING FISCAL YEAR 2024, WHICH ARE INCLUDED IN SCHEDULE J, PART II, COLUMN B (II).
SCHEDULE J, PART II
THE REPORTABLE COMPENSATION DISCLOSED ON SCHEDULE J INCLUDES A COMBINATION OF CURRENT YEAR EARNINGS PAID IN CALENDAR YEAR 2024, PREVIOUSLY DEFERRED COMPENSATION FROM PRIOR YEARS PAID, INVESTMENT EARNINGS PAID ON DEFERRED AMOUNTS, AND ANY DEFERRED COMPENSATION THAT VESTED DURING THAT PERIOD.

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.

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.

  • FON I LLC

    STRUCT INVEST · DE · income $8,962,981 · assets $275,734,351

    Directly controlled by NA

  • DYNAMO BRASIL II LLC

    STRUCT INVEST · DE · income $0 · assets $564,826

    Directly controlled by NA

Related partnerships

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

  • NORTHLIGHT CO-INVESTMENT FUND LLC

    EXCLUDED · INVESTMENTS · DE · 100% owned · share of income $4,720,737 · share of assets $40,781,261

    Directly controlled by NCP LLC

  • OIE STREAM CO-INVEST FUND I LP

    UNRELATED · INVESTMENTS · DE · 99.8% owned · share of income $2,836,136 · share of assets $17,954,082

    Directly controlled by OIE STRM I GP

  • V NY CLUB II LLC

    UNRELATED · INVESTMENTS · DE · 99.8% owned · share of income -$1,100,795 · share of assets $60,978,590

    Directly controlled by MHG

  • NT FUND I LLC

    EXCLUDED · INVESTMENTS · DE · 99.44% owned · share of income -$5,225,497 · share of assets $133,940,956

    Directly controlled by NTC LLC

  • KEEP III THUNDER CO-INVEST LP

    INVESTMENTS · DE · 99% owned

    Directly controlled by KEEP III GP LP

  • SREOF III CO-INVEST III LP

    EXCLUDED · INVESTMENTS · DE · 98.36% owned · share of income $326,246 · share of assets $10,288,830

    Directly controlled by SRE LLC

  • COSMIC 20241 LP

    EXCLUDED · INVESTMENTS · DE · 90.91% owned · share of income $0 · share of assets $9,996,542

    Directly controlled by CSMC SGP 20241

  • EDENBROOK LONG ONLY VALUE FUND LP

    EXCLUDED · INVESTMENTS · DE · 71.76% owned · share of income $20,119,616 · share of assets $136,736,647

    Directly controlled by EDNBRK CAP LLC

  • VORTUS - FORELAND II CO-INVESTMENT LP

    EXCLUDED · INVESTMENTS · DE · 71.38% owned · share of income $1,923,681 · share of assets $2,751,704

    Directly controlled by VIFW GP LP

  • NCP STRINGFIELD LLC

    INVESTMENTS · DE · 71% owned

    Directly controlled by NCP LLC

  • THRIVE CAPITAL PARTNERS HARRY'S LLC

    EXCLUDED · INVESTMENTS · DE · 66.67% owned · share of income $0 · share of assets $10,032,255

    Directly controlled by TCM LLC

  • RCP-MF 2 LLC

    INVESTMENTS · DE · 62.96% owned

    Directly controlled by RCP HOLDCO 3

  • RCP MF HOLDING CORP 2 LLC

    INVESTMENTS · DE · 62.96% owned

    Directly controlled by RCP HOLDCO 3

  • MERCED REAL ESTATE PARTNERS I LP

    UNRELATED · INVESTMENTS · DE · 60.55% owned · share of income $1,428,194 · share of assets $6,575,747

    Directly controlled by MCP LLC

  • INYAREK RNG OPPORTUNITIES LP

    UNRELATED · INVESTMENTS · DE · 53.88% owned · share of income $12,584 · share of assets $3,795,631

    Directly controlled by IP LLC

  • REDTAIL RENEWABLES HOLDINGS LLC

    INVESTMENTS · DE · 53.88% owned

    Directly controlled by IRH LLC

  • OIE STREAM I AGGREGATOR LP

    INVESTMENTS · DE · 59.88% owned

    Directly controlled by OIE STRM I AG

  • SATURN V CAPITAL LP

    EXCLUDED · INVESTMENTS · DE · 52.87% owned · share of income $10,061,791 · share of assets $112,065,216

    Directly controlled by SVC MGMT

  • BIG CREEK CAPITAL PARTNERS LP

    EXCLUDED · INVESTMENTS · DE · 52.48% owned · share of income $1,277,655 · share of assets $34,395,569

    Directly controlled by TCCP LP

  • ROX II MED CENTER LP

    EXCLUDED · INVESTMENTS · DE · 50% owned · share of income -$892,376 · share of assets $18,668,040

    Directly controlled by RF II GP LLC

  • CHESTNUT CARBON CO-INVEST LP

    UNRELATED · INVESTMENTS · DE · 29.54% owned · share of income -$751,154 · share of assets $18,485,053

    Directly controlled by KCS GP LP

  • OIE STREAM FUND I LP

    EXCLUDED · INVESTMENTS · DE · 13.57% owned · share of income $332,465 · share of assets $3,777,669

    Directly controlled by OIE STREAM I GP

  • RCP-MF LLC

    INVESTMENTS · DE · 0% owned

    Directly controlled by RCP HOLDCO 3

Related corporations and trusts

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

  • BIG CREEK CAPITAL MASTER FUND LTD

    C-CORP · INVESTMENTS · CJ · 51.98% owned · share of income $1,026,114 · share of assets $42,291,330 · controlled entity

    Directly controlled by TCCM LP

  • RCP MF HOLDING CORP

    C-CORP · INVESTMENTS · DE · 0% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by RCP HOLDCO 3

  • FOURTH SAIL DISCOVERY OFFSHORE FUND LP

    C-CORP · INVESTMENTS · CA · 54.77% owned · share of income $27,330,888 · share of assets $144,478,888 · controlled entity

    Directly controlled by FOURTH SAIL CAP

  • OLD IVY LTD

    C-CORP · INVESTMENTS · CJ · 100% owned · share of income $223,127,604 · share of assets $504,826,410 · controlled entity

    Directly controlled by UVIMCO

  • PAVILION SPC

    C-CORP · INVESTMENTS · CJ · 100% owned · share of income $29,884,997 · share of assets $607,078,158 · controlled entity

    Directly controlled by UVIMCO

  • PAVILION SPC - SEGREGATED PORTFOLIO GMS

    C-CORP · INVESTMENTS · CJ · 100% owned · share of income $996,102 · share of assets $277,701,492 · controlled entity

    Directly controlled by UVIMCO

  • PAVILION SPC -SEGREGATED PORTFOLIO MULTI

    C-CORP · INVESTMENTS · CJ · 100% owned · share of income $25,347,156 · share of assets $239,449,886 · controlled entity

    Directly controlled by UVIMCO

  • PAVILION SPC-SEGREGATED PORTFOLIO CREDIT

    C-CORP · INVESTMENTS · CJ · 100% owned · share of income $3,541,739 · share of assets $89,926,780 · controlled entity

    Directly controlled by UVIMCO

  • HUDSON VALLEY PF II FEED REIT LLC

    C-CORP · INVESTMENTS · DE · 58.56% owned · share of income $218,776 · share of assets $59,799,781 · controlled entity

    Directly controlled by HVPF MANAGER II

  • SPRUCE STREET CAPITAL OFFSHORE FUND LP

    C-CORP · INVESTMENTS · CJ · 52.46% owned · share of income -$81,959 · share of assets $30,920,954 · controlled entity

    Directly controlled by SPRUCE ST GP

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.2
Source object
202611359349306486

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