Skip to content
Nonprofiteer
← WEST VIRGINIA UNIV FOUNDATION INC

Form 990 for tax year 2022

Filed by WEST VIRGINIA UNIV FOUNDATION INC.

Totals

Total revenue
$137,168,472
Total expenses
$153,381,241
Contributions and grants received
$77,015,608
Grants paid
$21,453,699
Program service revenue
$18,658,399
Investment income
$41,540,928
Other revenue
-$46,463
Total assets, end of year
$2,826,400,531
Total liabilities, end of year
$1,602,682,433
Net assets or fund balances, end of year
$1,223,718,098
Program services expenses (Part IX)
$128,771,863
Management and general expenses
$9,598,798
Fundraising expenses
$15,010,580
Program service expenses (Part III)
$128,771,863

Program services were 84.0% 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.

  • 1c · Fundraising events

    $1,868,633

  • 1f · All other contributions, gifts and grants

    $75,146,975

  • 1g · Noncash contributions included above

    $3,785,631

  • 2a · Program service revenue: OTHER

    total $13,253,233 · related or exempt $13,253,233

  • 2b · Program service revenue: AGENCY FEES

    total $4,527,425 · related or exempt $4,527,425

  • 2c · Program service revenue: CONTRACTUAL AGREEMENTS

    total $877,741 · related or exempt $765,172 · unrelated business $112,569

  • 3 · Investment income

    total $18,029,742 · unrelated business $866,241 · excluded $17,163,501

  • 5 · Royalties

    total $93,170 · excluded $93,170

  • 6a · Gross rents

    real property $1,975,000

  • 6b · Less rental expenses

    real property $1,300,134

  • 6c · Rental income or loss

    real property $674,866

  • 6d · Net rental income or loss

    total $674,866 · related or exempt $674,866

  • 7a · Gross sales of assets other than inventory

    securities $356,742,294

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

    securities $333,231,108

  • 7c · Gain or loss

    securities $23,511,186

  • 7d · Net gain or loss

    total $23,511,186 · excluded $23,511,186

  • 8a · Fundraising events: gross income

    $346,594

  • 8a · Fundraising events: contributions included on line 1c

    $1,868,633

  • 8b · Fundraising events: direct expenses

    $1,161,093

  • 8c · Net income from fundraising events

    total -$814,499 · excluded -$814,499

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $21,453,699 · program services $21,453,699

  • 5 · Compensation of officers, directors and key employees

    total $3,157,827 · management and general $2,012,211 · fundraising $1,145,616

  • 7 · Other salaries and wages

    total $59,987,090 · program services $51,981,164 · management and general $1,083,785 · fundraising $6,922,141

  • 8 · Pension plan contributions

    total $1,542,387 · management and general $498,037 · fundraising $1,044,350

  • 9 · Other employee benefits

    total $6,448,251 · program services $5,470,519 · management and general $315,709 · fundraising $662,023

  • 10 · Payroll taxes

    total $1,038,160 · management and general $335,222 · fundraising $702,938

  • 11b · Fees: legal

    total $241,303 · program services $66,578 · management and general $56,419 · fundraising $118,306

  • 11c · Fees: accounting

    total $121,422 · program services $1,585 · management and general $119,837

  • 11e · Fees: professional fundraising services

    total $385,361 · fundraising $385,361

  • 11f · Fees: investment management

    total $4,573,992 · program services $4,398,196 · management and general $175,796

  • 11g · Fees: other

    total $5,048,940 · program services $3,768,879 · management and general $413,330 · fundraising $866,731

  • 12 · Advertising and promotion

    total $699,537 · program services $467,526 · management and general $74,916 · fundraising $157,095

  • 13 · Office expenses

    total $7,407,654 · program services $6,786,779 · management and general $200,481 · fundraising $420,394

  • 14 · Information technology

    total $1,404,120 · program services $125,699 · management and general $412,803 · fundraising $865,618

  • 16 · Occupancy

    total $1,751,173 · program services $1,241,745 · management and general $164,495 · fundraising $344,933

  • 17 · Travel

    total $4,104,643 · program services $3,836,773 · management and general $86,495 · fundraising $181,375

  • 19 · Conferences, conventions and meetings

    total $4,838,968 · program services $4,176,509 · management and general $213,909 · fundraising $448,550

  • 22 · Depreciation, depletion and amortization

    total $423,107 · management and general $136,621 · fundraising $286,486

  • 23 · Insurance

    total $440,886 · program services $140,698 · management and general $96,931 · fundraising $203,257

  • 24a · Other expenses: CAPITAL PROJECTS

    total $22,335,138 · program services $22,335,138

  • 24b · Other expenses: TRANSFERS TO UNIVERSITY

    total $3,080,000 · management and general $3,080,000

  • 24c · Other expenses: DIST. FOR RESEARCH

    total $1,710,000 · program services $1,710,000

  • 24d · Other expenses: PROVISION FOR LOSSES

    total $1,060,699 · program services $1,060,699

  • 24e · All other expenses

    total $126,884 · program services -$250,323 · management and general $121,801 · fundraising $255,406

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $251 · end of year $249

  • 2 · Savings and temporary cash investments

    beginning of year $117,590,639 · end of year $87,151,417

  • 3 · Pledges and grants receivable

    beginning of year $69,722,607 · end of year $58,469,423

  • 4 · Accounts receivable

    beginning of year $1,665,376 · end of year $2,116,493

  • 7 · Other notes and loans receivable

    beginning of year $2,040,466 · end of year $2,648,673

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,000,000 · end of year $1,000,000

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

    $38,837,840

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

    $26,653,002

  • 10c · Land, buildings and equipment, net

    beginning of year $13,131,667 · end of year $12,184,838

  • 11 · Investments: publicly traded securities

    beginning of year $1,144,851,800 · end of year $908,655,945

  • 12 · Investments: other securities

    beginning of year $1,273,668,343 · end of year $1,710,410,270

  • 15 · Other assets

    beginning of year $43,271,798 · end of year $43,763,223

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,502,060 · end of year $12,603,679

  • 23 · Secured mortgages and notes payable

    beginning of year $13,843,196 · end of year $12,644,870

  • 25 · Other liabilities

    beginning of year $1,400,991,079 · end of year $1,577,433,884

  • 27 · Net assets without donor restrictions

    beginning of year $56,790,975 · end of year $58,890,736

  • 28 · Net assets with donor restrictions

    beginning of year $1,187,815,637 · end of year $1,164,827,362

Mission and programs · 2022

Mission

THE MISSION OF THE WVU FOUNDATION IS TO ENRICH THE LIVES OF THOSE TOUCHED BY WEST VIRGINIA UNIVERSITY BY MAXIMIZING CHARITABLE SUPPORT AND PROVIDING SERVICES TO THE UNIVERSITY, ITS STUDENTS AND AFFILIATED ORGANIZATIONS

Activities or mission (Part I)

TO SUPPORT AND BENEFIT WEST VIRGINIA UNIVERSITY AND ITS AFFILIATED ORGANIZATIONS.

  • THE ORGANIZATION UTILIZES PRIVATE FUNDING TO SUPPORT STUDENTS WITHIN MULTIPLE SCHOOLS, COLLEGES, AND DEPARTMENTS ACROSS CAMPUS; THE MOST SIGNIFICANT OF WHICH WERE THE DEPARTMENT OF INTERCOLLEGIATE ATHLETICS, THE EBERLY COLLEGE OF ARTS AND SCIENCES, THE COLLEGE OF AGRICULTURE, NATURAL RESOURCES AND DESIGN, AND THE STATLER COLLEGE OF ENGINEERING AND MINERAL RESOURCES. SCHOLARSHIP AMOUNTS INCLUDE TUITION, BOOKS, AND ROOM AND BOARD. SCHOLARSHIP AMOUNTS ARE UTILIZED ACROSS CAMPUS TO HELP RECRUIT NATIONALLY PROMINENT STUDENTS AS WELL AS PROVIDE FUNDING SUPPORT TO GIVE OTHER STUDENTS THE OPPORTUNITY TO PURSUE AN ACADEMIC CAREER AT THE HIGHEST LEVEL.

    Expenses $21,453,699 · Grants $21,453,699

  • THE ORGANIZATION UTILIZES PRIVATE FUNDING TO SUPPORT MULTIPLE SCHOOLS, COLLEGES, AND DEPARTMENTS IMPACTING ALL LEVELS OF THE CAMPUS. AMOUNTS FUNDED IN THIS AREA ARE PRIMARILY UTILIZED TO ENHANCE SALARY LEVELS THEREBY POSITIONING WEST VIRGINIA UNIVERSITY TO BE MORE COMPETITIVE IN ATTRACTING AND RETAINING TALENTED INDIVIDUALS WITHIN THE ACADEMIC, ADMINISTRATIVE, AND RESEARCH FIELDS. THE HEALTH SCIENCES CAMPUS WAS THE PRIMARY BENEFICIARY OF FUNDED SALARIES; HOWEVER, VIRTUALLY EVERY ACADEMIC DEPARTMENT, AS WELL AS THE DEPARTMENT OF INTERCOLLEGIATE ATHLETICS, RECEIVED FUNDING FOR THIS CRITICAL FUNCTION.

    Expenses $57,451,683

  • THE ORGANIZATION UTILIZES PRIVATE FUNDING TO SUPPORT CAPITAL PROJECT INITIATIVES ACROSS CAMPUS. FOR THE CURRENT FISCAL YEAR, WEST VIRGINIA UNIVERSITY RECEIVED FUNDING FROM THE ORGANIZATION TO SUPPORT A VARIETY OF CAPITAL INITIATIVES.

    Expenses $22,335,138

  • THE ORGANIZATION HAS OTHER DISBURSEMENTS IN DIRECT SUPPORT OF WEST VIRGINIA UNIVERSITY, INCLUDING FACULTY AND STAFF TRAVEL FOR EDUCATIONAL PURPOSES, CLASSROOM, LABORATORY, AND OFFICE SUPPLIES, EDUCATIONAL MATERIALS, ETC.

    Expenses $27,531,343 · Revenue $19,220,696

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • OLA ADEKUNLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • GEORGE BICHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • VALENTINA BIGALKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SUSAN BREWER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARCIA A BROUGHTON

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • NATALIE BUSH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SPENCER CAVALIER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIM CRAIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL T ESCUE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN GIVEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TERRI HORNSBY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROBERT JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KERRI KNOTTS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PAMELA M LARRICK

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • JANE MCNEER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROBERT O ORDERS JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ALEXIS PUGH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • J WAYNE RICHARDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRADFORD RITCHIE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PENELOPE F ROLL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAVID S SANTEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM SHEEDY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN K SIDOW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • GEORGE S WEAVER III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RODERICK YOUNG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ALAN J ZUCCARI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CYNTHIA L ROTH

    PRESIDENT & CEO

    Total calculated
    $875,060
    From this org
    $749,486
    From related orgs
    $0
    Other
    $125,574
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $469,847
    Bonus
    $138,000
    Other
    $141,639
    Deferred
    $113,790
    Nontaxable benefits
    $11,784
    Filer's total
    $875,060

  • MICHAEL E AUGUSTINE

    COO/CFO, TREASURER

    Total calculated
    $487,953
    From this org
    $435,601
    From related orgs
    $0
    Other
    $52,352
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $317,269
    Bonus
    $107,680
    Other
    $10,652
    Deferred
    $33,550
    Nontaxable benefits
    $18,802
    Filer's total
    $487,953

  • JESSICA M BURNS

    BOARD ADMIN, EXEC TO CEO/ASST. BOARD SEC

    Total calculated
    $116,822
    From this org
    $87,806
    From related orgs
    $0
    Other
    $29,016
    Hours/week
    45

  • BERNARD J DAVISSON II

    SR. VP DEVELOPMENT, CDO

    Total calculated
    $537,900
    From this org
    $486,338
    From related orgs
    $0
    Other
    $51,562
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $378,134
    Bonus
    $97,000
    Other
    $11,204
    Deferred
    $33,550
    Nontaxable benefits
    $18,012
    Filer's total
    $537,900

  • RICHARD KRAICH

    VP INVESTMENTS, CIO

    Total calculated
    $961,493
    From this org
    $902,561
    From related orgs
    $0
    Other
    $58,932
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $493,846
    Bonus
    $396,047
    Other
    $12,668
    Deferred
    $33,550
    Nontaxable benefits
    $25,382
    Filer's total
    $961,493

  • MELISSA L SIMPSON

    ASST. TREASURER (3/4/2022)

    Total calculated
    $189,211
    From this org
    $166,904
    From related orgs
    $0
    Other
    $22,307
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $166,544
    Bonus
    $0
    Other
    $360
    Deferred
    $18,623
    Nontaxable benefits
    $3,684
    Filer's total
    $189,211

  • JEFFREY SCHOENHERR

    ASSOC VP, MEDICAL DEVELOPMENT

    Total calculated
    $304,832
    From this org
    $250,952
    From related orgs
    $0
    Other
    $53,880
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $250,400
    Bonus
    $0
    Other
    $552
    Deferred
    $28,498
    Nontaxable benefits
    $25,382
    Filer's total
    $304,832

  • CHARLES KERZACK

    SR. ASSOC VP, UNIVERSITY DEVELOPMENT

    Total calculated
    $287,355
    From this org
    $232,638
    From related orgs
    $0
    Other
    $54,717
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $232,086
    Bonus
    $0
    Other
    $552
    Deferred
    $29,335
    Nontaxable benefits
    $25,382
    Filer's total
    $287,355

  • JENNIFER CUNANAN

    ASSOC VP, INVESTMENTS

    Total calculated
    $470,566
    From this org
    $408,584
    From related orgs
    $0
    Other
    $61,982
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $301,781
    Bonus
    $106,443
    Other
    $360
    Deferred
    $36,600
    Nontaxable benefits
    $25,382
    Filer's total
    $470,566

  • TIMOTHY BOLLING

    SR. ASSOC VP, LEADERSHIP PHILANTHROPY

    Total calculated
    $285,393
    From this org
    $235,562
    From related orgs
    $0
    Other
    $49,831
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $234,530
    Bonus
    $0
    Other
    $1,032
    Deferred
    $24,449
    Nontaxable benefits
    $25,382
    Filer's total
    $285,393

  • KAYLON MCINELLY

    ASSOC VP, INVESTMENTS

    Total calculated
    $355,675
    From this org
    $308,943
    From related orgs
    $0
    Other
    $46,732
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $223,111
    Bonus
    $85,592
    Other
    $240
    Deferred
    $21,350
    Nontaxable benefits
    $25,382
    Filer's total
    $355,675

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

  • 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 4B
THE FOUNDATION HAS ESTABLISHED A NON-QUALIFIED 457(F) PLAN FOR CERTAIN EXECUTIVES. CONTRIBUTIONS WERE MADE TO THE PLAN IN CALENDAR YEAR 2022 FOR THE FOLLOWING INDIVIDUALS: $80,240 - CYNTHIA ROTH - PRESIDENT & CEO

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

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.

Related corporations and trusts

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

  • CHARITABLE REMAINDER TRUST (47)

    T · FINANCIAL SUPPORT · WV · controlled entity

  • PERPETUAL TRUSTS (13)

    T · FINANCIAL SUPPORT · WV · controlled entity

  • CHARITABLE LEAD TRUST (5)

    T · FINANCIAL SUPPORT · WV · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
1 April 2024
IRS schema version
2022v5.0
Source object
202400959349301410

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.