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Nonprofiteer
← WEST VIRGINIA UNIV FOUNDATION INC

Form 990 for tax year 2024

Filed by WEST VIRGINIA UNIV FOUNDATION INC.

Totals

Total revenue
$152,277,981
Total expenses
$144,767,225
Contributions and grants received
$88,880,676
Grants paid
$18,546,927
Program service revenue
$24,131,606
Investment income
$39,253,303
Other revenue
$12,396
Total assets, end of year
$3,299,917,464
Total liabilities, end of year
$1,938,339,401
Net assets or fund balances, end of year
$1,361,578,063
Program services expenses (Part IX)
$120,328,282
Management and general expenses
$7,638,924
Fundraising expenses
$16,800,019
Program service expenses (Part III)
$120,328,282

Program services were 83.1% 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

    $842,479

  • 1f · All other contributions, gifts and grants

    $88,038,197

  • 1g · Noncash contributions included above

    $2,252,457

  • 2a · Program service revenue: Other

    total $15,824,762 · related or exempt $15,824,762

  • 2b · Program service revenue: Agency Fees

    total $5,340,927 · related or exempt $5,340,927

  • 2c · Program service revenue: Contractual Agreements

    total $2,965,917 · related or exempt $2,870,835 · unrelated business $95,082

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $24,448,888 · unrelated business $1,859,441 · excluded $22,589,447

  • 5 · Royalties

    total $44,395 · excluded $44,395

  • 6a · Gross rents

    real property $1,975,000

  • 6b · Less rental expenses

    real property $1,215,504

  • 6c · Rental income or loss

    real property $759,496 · personal property $0

  • 6d · Net rental income or loss

    total $759,496 · related or exempt $759,496

  • 7a · Gross sales of assets other than inventory

    securities $332,835,031

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

    securities $318,030,616

  • 7c · Gain or loss

    securities $14,804,415 · other assets $0

  • 7d · Net gain or loss

    total $14,804,415 · excluded $14,804,415

  • 8a · Fundraising events: gross income

    $293,081

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

    $842,479

  • 8b · Fundraising events: direct expenses

    $1,084,576

  • 8c · Net income from fundraising events

    total -$791,495 · excluded -$791,495

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,546,927 · program services $18,546,927

  • 5 · Compensation of officers, directors and key employees

    total $3,564,737 · management and general $2,185,375 · fundraising $1,379,362

  • 7 · Other salaries and wages

    total $32,881,621 · program services $23,969,721 · management and general $1,263,437 · fundraising $7,648,463

  • 8 · Pension plan contributions

    total $1,726,702 · management and general $548,228 · fundraising $1,178,474

  • 9 · Other employee benefits

    total $7,828,480 · program services $5,973,716 · management and general $588,888 · fundraising $1,265,876

  • 10 · Payroll taxes

    total $1,156,006 · management and general $367,032 · fundraising $788,974

  • 11b · Fees: legal

    total $301,700 · program services $33,203 · management and general $85,248 · fundraising $183,249

  • 11c · Fees: accounting

    total $182,191 · program services $2,466 · management and general $179,725

  • 11e · Fees: professional fundraising services

    total $537,160 · fundraising $537,160

  • 11f · Fees: investment management

    total $9,034,314 · program services $8,889,677 · management and general $144,637

  • 11g · Fees: other

    total $7,877,716 · program services $6,413,774 · management and general $464,801 · fundraising $999,141

  • 12 · Advertising and promotion

    total $640,629 · program services $444,995 · management and general $62,114 · fundraising $133,520

  • 13 · Office expenses

    total $8,123,260 · program services $7,546,014 · management and general $183,275 · fundraising $393,971

  • 14 · Information technology

    total $1,416,083 · program services $244,051 · management and general $372,120 · fundraising $799,912

  • 16 · Occupancy

    total $1,458,617 · program services $1,200,674 · management and general $81,897 · fundraising $176,046

  • 17 · Travel

    total $4,149,326 · program services $3,816,011 · management and general $105,828 · fundraising $227,487

  • 19 · Conferences, conventions and meetings

    total $6,470,015 · program services $5,658,681 · management and general $257,598 · fundraising $553,736

  • 22 · Depreciation, depletion and amortization

    total $458,383 · management and general $145,538 · fundraising $312,845

  • 23 · Insurance

    total $438,232 · program services $165,445 · management and general $86,610 · fundraising $186,177

  • 24a · Other expenses: Capital Projects

    total $29,296,637 · program services $29,296,637

  • 24b · Other expenses: Provision for Losses

    total $5,799,149 · program services $5,799,149

  • 24c · Other expenses: Distribution for Research Initiaves

    total $2,300,032 · program services $2,300,032

  • 24d · Other expenses: Transfers to University & Affiliates

    total $500,000 · management and general $500,000

  • 24e · All other expenses

    total $79,308 · program services $27,109 · management and general $16,573 · fundraising $35,626

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $250 · end of year $250

  • 2 · Savings and temporary cash investments

    beginning of year $117,440,864 · end of year $124,682,680

  • 3 · Pledges and grants receivable

    beginning of year $103,438,921 · end of year $93,777,257

  • 4 · Accounts receivable

    beginning of year $2,047,338 · end of year $2,400,270

  • 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 $1,356,974 · end of year $1,168,731

  • 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

    $43,477,962

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

    $29,263,936

  • 10c · Land, buildings and equipment, net

    beginning of year $12,111,082 · end of year $14,214,026

  • 11 · Investments: publicly traded securities

    beginning of year $1,076,305,258 · end of year $1,257,365,875

  • 12 · Investments: other securities

    beginning of year $1,687,502,736 · end of year $1,765,820,009

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $42,287,441 · end of year $39,488,366

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,412,036 · end of year $6,943,386

  • 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 $11,403,258 · end of year $10,120,304

  • 25 · Other liabilities

    beginning of year $1,714,404,230 · end of year $1,921,275,711

  • 27 · Net assets without donor restrictions

    beginning of year $71,960,173 · end of year $89,850,710

  • 28 · Net assets with donor restrictions

    beginning of year $1,238,311,167 · end of year $1,271,727,353

Mission and programs · 2024

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.

  • 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 $29,943,437

  • 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 $29,296,637

  • 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 $18,546,927 · Grants $18,546,927

  • 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 $42,541,281

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cynthia L Roth

    President & CEO

    Total calculated
    $960,453
    From this org
    $815,430
    From related orgs
    $0
    Other
    $145,023
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $550,106
    Bonus
    $260,128
    Other
    $5,196
    Deferred
    $131,804
    Nontaxable benefits
    $13,219
    Filer's total
    $960,453

  • J Wayne Richards

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Susan Brewer

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • William Sheedy

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Alan J Zuccari

    Director

    Total calculated
    $0
    Hours/week
    2

  • Alexis Pugh

    Director

    Total calculated
    $0
    Hours/week
    2

  • Bradford Ritchie

    Director

    Total calculated
    $0
    Hours/week
    2

  • Christine Davis

    Director

    Total calculated
    $0
    Hours/week
    2

  • Dave Gruver

    Director

    Total calculated
    $0
    Hours/week
    2

  • Erika Cramer

    Director

    Total calculated
    $0
    Hours/week
    2

  • George Bicher

    Director

    Total calculated
    $0
    Hours/week
    2

  • George S Weaver III

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jane McNeer

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jo Ann Shaw

    Director

    Total calculated
    $0
    Hours/week
    2

  • Kerri Knotts

    Director

    Total calculated
    $0
    Hours/week
    2

  • Kevin Given

    Director

    Total calculated
    $0
    Hours/week
    2

  • Kevin K Sidow

    Director

    Total calculated
    $0
    Hours/week
    2

  • Kim Craig

    Director

    Total calculated
    $0
    Hours/week
    2

  • Michael John

    Director

    Total calculated
    $0
    Hours/week
    2

  • Michael T Escue

    Director

    Total calculated
    $0
    Hours/week
    2

  • Natalie Bush

    Director

    Total calculated
    $0
    Hours/week
    2

  • Ola Adekunle

    Director

    Total calculated
    $0
    Hours/week
    2

  • Penelope F Roll

    Director

    Total calculated
    $0
    Hours/week
    2

  • Robert Johnson

    Director

    Total calculated
    $0
    Hours/week
    2

  • Robert O Orders Jr

    Director

    Total calculated
    $0
    Hours/week
    2

  • Roderick Young

    Director

    Total calculated
    $0
    Hours/week
    2

  • Spencer Cavalier

    Director

    Total calculated
    $0
    Hours/week
    2

  • Terri Hornsby

    Director

    Total calculated
    $0
    Hours/week
    2

  • Travis Rosiek

    Director

    Total calculated
    $0
    Hours/week
    2

  • Valentina Bigalke

    Director

    Total calculated
    $0
    Hours/week
    2

  • Bernard J Davisson II ret Dec 2024

    Sr. VP Development, CDO

    Total calculated
    $583,275
    From this org
    $523,025
    From related orgs
    $0
    Other
    $60,250
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $408,357
    Bonus
    $102,000
    Other
    $12,668
    Deferred
    $37,950
    Nontaxable benefits
    $22,300
    Filer's total
    $583,275

  • Jessica M Burns

    Dr. of Board Relations/Asst. Board Sec

    Total calculated
    $137,392
    From this org
    $103,548
    From related orgs
    $0
    Other
    $33,844
    Hours/week
    45

  • Jim Bethea

    VP Investments, CIO

    Total calculated
    $0
    Hours/week
    45

  • Melissa L Simpson

    Sr, AVP Finance/ Asst. Treasurer

    Total calculated
    $221,053
    From this org
    $195,576
    From related orgs
    $0
    Other
    $25,477
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $191,486
    Bonus
    $3,730
    Other
    $360
    Deferred
    $21,639
    Nontaxable benefits
    $3,838
    Filer's total
    $221,053

  • Michael E Augustine

    COO/CFO, Treasurer

    Total calculated
    $525,810
    From this org
    $465,060
    From related orgs
    $0
    Other
    $60,750
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $348,286
    Bonus
    $105,570
    Other
    $11,204
    Deferred
    $37,950
    Nontaxable benefits
    $22,800
    Filer's total
    $525,810

  • Richard Kraich ret July 2025

    VP Investments, CIO

    Total calculated
    $1,057,409
    From this org
    $996,659
    From related orgs
    $0
    Other
    $60,750
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $535,990
    Bonus
    $448,001
    Other
    $12,668
    Deferred
    $37,950
    Nontaxable benefits
    $22,800
    Filer's total
    $1,057,409

  • William Green

    Sr. VP Development, CDO

    Total calculated
    $0
    Hours/week
    45

  • Ben Murray

    Deputy Athletic Director and Chief Development Officer for Athletics

    Total calculated
    $361,711
    From this org
    $301,792
    From related orgs
    $0
    Other
    $59,919
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $232,884
    Bonus
    $30,794
    Other
    $38,114
    Deferred
    $30,018
    Nontaxable benefits
    $29,901
    Filer's total
    $361,711

  • Charles Kerzak

    SrAssocVP, UniversityDevel/ CampaignMgmt

    Total calculated
    $323,839
    From this org
    $261,028
    From related orgs
    $0
    Other
    $62,811
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $254,861
    Bonus
    $5,135
    Other
    $1,032
    Deferred
    $32,910
    Nontaxable benefits
    $29,901
    Filer's total
    $323,839

  • Jennifer Cunanan

    Assoc VP, Investments

    Total calculated
    $519,058
    From this org
    $447,757
    From related orgs
    $0
    Other
    $71,301
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $325,942
    Bonus
    $121,455
    Other
    $360
    Deferred
    $41,400
    Nontaxable benefits
    $29,901
    Filer's total
    $519,058

  • Kaylon McInelly

    Assoc VP, Investments

    Total calculated
    $400,984
    From this org
    $345,917
    From related orgs
    $0
    Other
    $55,067
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $242,819
    Bonus
    $102,858
    Other
    $240
    Deferred
    $24,150
    Nontaxable benefits
    $30,917
    Filer's total
    $400,984

  • Timothy Bolling

    Sr. Assoc VP, Leadership Philanthropy

    Total calculated
    $322,592
    From this org
    $264,870
    From related orgs
    $0
    Other
    $57,722
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $257,356
    Bonus
    $6,482
    Other
    $1,032
    Deferred
    $27,821
    Nontaxable benefits
    $29,901
    Filer's total
    $322,592

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)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOUNDATION HAS ESTABLISHED A NON-QUALIFIED 457(F) PLAN FOR CERTAIN EXECUTIVES. CONTRIBUTIONS WERE MADE TO THE PLAN IN CALENDAR YEAR 2024 FOR THE FOLLOWING INDIVIDUALS: $93,854 - 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 (46)

    Trust · Financial Support · WV · controlled entity

    Directly controlled by NA

  • Perpetual Trusts (13)

    Trust · Financial Support · WV · controlled entity

    Directly controlled by NA

  • Charitable Lead Trust (5)

    Trust · Financial Support · WV · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
14 April 2026
IRS schema version
2024v5.1
Source object
202631039349301733

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