Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $38,802,423

• 1g · Noncash contributions included above

  $2,514,853

• 2a · Program service revenue: EXECUTIVE EDUCATION

  total $35,422,103 · related or exempt $32,004,413 · unrelated business $3,417,690

• 3 · Investment income

  total $2,320,187 · excluded $2,320,187

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0

• 7a · Gross sales of assets other than inventory

  securities $156,478,598

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

  securities $132,249,717

• 7c · Gain or loss

  securities $24,228,881

• 7d · Net gain or loss

  total $24,228,881 · excluded $24,228,881

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: ADVERTISING REVENUE

  total $34,500 · unrelated business $34,500

• 11b · Other revenue: OTHER INCOME

  total $33,327 · related or exempt $33,327

• 11e · Other revenue, total

  $67,827

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $27,351,351 · program services $27,351,351

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $2,354,237 · program services $913,308 · management and general $1,099,832 · fundraising $341,097

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $13,361,656 · program services $10,722,572 · management and general $992,860 · fundraising $1,646,224

• 8 · Pension plan contributions

  total $809,272 · program services $537,102 · management and general $105,964 · fundraising $166,206

• 9 · Other employee benefits

  total $1,017,740 · program services $730,592 · management and general $135,257 · fundraising $151,891

• 10 · Payroll taxes

  total $1,559,737 · program services $1,371,655 · management and general $58,026 · fundraising $130,056

• 11a · Fees: management

  total $376,366 · program services $376,366

• 11b · Fees: legal

  total $131,458 · program services $8,563 · management and general $121,339 · fundraising $1,556

• 11c · Fees: accounting

  total $109,900 · management and general $109,900

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $1,081,204 · management and general $1,081,204

• 11g · Fees: other

  total $8,587,422 · program services $7,879,304 · management and general $606,953 · fundraising $101,165

• 12 · Advertising and promotion

  total $2,116,127 · program services $1,975,231 · management and general $15,041 · fundraising $125,855

• 13 · Office expenses

  total $3,486,258 · program services $3,466,971 · management and general $8,952 · fundraising $10,335

• 14 · Information technology

  total $917,701 · program services $701,756 · management and general $198,157 · fundraising $17,788

• 15 · Royalties

  total $156,007 · program services $156,007

• 16 · Occupancy

  total $3,397,664 · program services $3,337,669 · management and general $31,096 · fundraising $28,899

• 17 · Travel

  total $5,059,904 · program services $4,281,407 · management and general $378,542 · fundraising $399,955

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $779,607 · program services $644,761 · management and general $73,534 · fundraising $61,312

• 20 · Interest

  total $868,301 · management and general $868,301

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $3,188,607 · program services $2,496,541 · management and general $309,083 · fundraising $382,983

• 23 · Insurance

  total $306,338 · program services $258,575 · management and general $47,763

• 24a · Other expenses: COGS

  total $1,806,098 · program services $1,806,098

• 24b · Other expenses: MISCELLANEOUS EXPENSE

  total $859,284 · program services $746,972 · management and general $73,688 · fundraising $38,624

• 24c · Other expenses: BAD DEBT EXPENSE(RECOVERY)

  total $82,581 · program services $195,050 · fundraising -$112,469

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $40,200,009 · end of year $17,537,798

• 3 · Pledges and grants receivable

  beginning of year $40,109,883 · end of year $47,378,684

• 4 · Accounts receivable

  beginning of year $5,326,004 · end of year $6,125,889

• 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 $1,969,858 · end of year $1,870,557

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

  $156,419,864

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

  $6,574,363

• 10c · Land, buildings and equipment, net

  beginning of year $103,553,387 · end of year $149,845,501

• 11 · Investments: publicly traded securities

  beginning of year $52,779,591 · end of year $87,308,079

• 12 · Investments: other securities

  beginning of year $412,593,470 · end of year $396,997,096

• 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 $49,191,571 · end of year $70,294,679

• 17 · Accounts payable and accrued expenses

  beginning of year $11,102,592 · end of year $6,090,386

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $970,001 · end of year $1,607,563

• 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 $59,807,180 · end of year $106,905,000

• 24 · Unsecured notes and loans payable

  beginning of year $3,000,000 · end of year $0

• 25 · Other liabilities

  beginning of year $6,126,796 · end of year $25,121,644

• 27 · Net assets without donor restrictions

  beginning of year $103,752,236 · end of year $136,643,382

• 28 · Net assets with donor restrictions

  beginning of year $520,964,968 · end of year $500,990,308

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A:

THROUGH THE FOUNDATION'S STANDARD BENEFITS PACKAGE, THE FOUNDATION WILL SUBSIDIZE $195 OF THE COST OF MEMBERSHIP TO THE UVA GYM FOR BENEFITS ELIGIBLE EMPLOYEES ANNUALLY. SCOTT BEARDSLEY, DEAN OF THE DARDEN SCHOOL OF BUSINESS AND EX-OFFICIO TRUSTEE OF THE FOUNDATION, IS ELIGIBLE FOR FIRST-CLASS TRAVEL TO INTERNATIONAL DESTINATIONS.

SCHEDULE J, PART I, LINE 4B:

THE FOUNDATION ESTABLISHED A NON-QUALIFIED DEFERRED COMPENSATION PLAN UNDER 457(F) TO COVER CERTAIN EXECUTIVES. AT THE END OF EACH FISCAL YEAR, THE BOARD COMPENSATION COMMITTEE MAY APPROVE A CONTRIBUTION TO BE CREDITED TO EACH PARTICIPANT'S ACCOUNT BASED ON PREDETERMINED METRICS. THE FOUNDATION'S CONTRIBUTION WAS $82,750 FOR ASHLEY WILLIAMS AND $58,050 FOR MICHAEL WOODFOLK. CONTRIBUTIONS MADE BY THE FOUNDATION FOLLOW A THREE-YEAR GRADED VESTING SCHEDULE.

SCHEDULE J, PART I, LINE 7:

THE FOUNDATION PAYS TEACHING FEES TO UNIVERSITY FACULTY WHO TEACH EXECUTIVE EDUCATION AND LIFELONG LEARNING PROGRAMS. BONUSES PAID ARE NOT CONTINGENT ON REVENUES OR NET EARNINGS.