Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $38,246,267

• 1g · Noncash contributions included above

  $7,505,038

• 2a · Program service revenue: SERVICE AGREEMENT - UNIVERSITY SU

  total $12,118,052 · related or exempt $12,118,052

• 2b · Program service revenue: ALUMNI ACTIVITIES

  total $164,762 · related or exempt $164,762

• 3 · Investment income

  total $12,601,800 · excluded $12,601,800

• 5 · Royalties

  total $49,835 · unrelated business $49,835

• 7a · Gross sales of assets other than inventory

  securities $13,569,361

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

  securities $13,332,347

• 7c · Gain or loss

  securities $237,014

• 7d · Net gain or loss

  total $237,014 · excluded $237,014

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $250 · related or exempt $250

• 11e · Other revenue, total

  $250

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $23,608,018 · program services $23,608,018

• 5 · Compensation of officers, directors and key employees

  total $2,183,485 · program services $82,910 · management and general $989,797 · fundraising $1,110,778

• 7 · Other salaries and wages

  total $5,653,553 · program services $648,931 · management and general $784,342 · fundraising $4,220,280

• 8 · Pension plan contributions

  total $525,351 · program services $61,375 · management and general $71,862 · fundraising $392,114

• 9 · Other employee benefits

  total $1,228,759 · program services $130,929 · management and general $183,997 · fundraising $913,833

• 10 · Payroll taxes

  total $508,334 · program services $48,926 · management and general $110,534 · fundraising $348,874

• 11a · Fees: management

  total $250,417 · management and general $250,417

• 11b · Fees: legal

  total $69,588 · management and general $69,588

• 11c · Fees: accounting

  total $95,826 · management and general $95,826

• 11f · Fees: investment management

  total $10,020 · management and general $10,020

• 12 · Advertising and promotion

  total $145,088 · program services $61,100 · management and general $43,414 · fundraising $40,574

• 13 · Office expenses

  total $891,504 · program services $96,009 · management and general $309,782 · fundraising $485,713

• 14 · Information technology

  total $598,616 · program services $118,267 · management and general $126,384 · fundraising $353,965

• 16 · Occupancy

  total $54,316 · program services $11,749 · management and general $30,383 · fundraising $12,184

• 17 · Travel

  total $307,764 · program services $28,633 · management and general $24,755 · fundraising $254,376

• 19 · Conferences, conventions and meetings

  total $615,637 · program services $264,679 · management and general $217,750 · fundraising $133,208

• 22 · Depreciation, depletion and amortization

  total $353,206 · program services $94,297 · management and general $155,889 · fundraising $103,020

• 23 · Insurance

  total $185,490 · management and general $185,490

• 24a · Other expenses: MISCELLANEOUS EXPENSES

  total $300 · program services $300

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,659,443 · end of year $5,249,523

• 2 · Savings and temporary cash investments

  beginning of year $57,661,629 · end of year $57,908,030

• 3 · Pledges and grants receivable

  beginning of year $13,018,734 · end of year $10,130,126

• 4 · Accounts receivable

  beginning of year $240,758 · end of year $430,775

• 9 · Prepaid expenses and deferred charges

  beginning of year $566,987 · end of year $686,206

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

  $25,633,236

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

  $2,380,912

• 10c · Land, buildings and equipment, net

  beginning of year $30,757,321 · end of year $23,252,324

• 11 · Investments: publicly traded securities

  beginning of year $14,054,732 · end of year $18,304,775

• 12 · Investments: other securities

  beginning of year $209,581,906 · end of year $227,974,465

• 15 · Other assets

  beginning of year $131,685 · end of year $156,725

• 17 · Accounts payable and accrued expenses

  beginning of year $10,871,771 · end of year $8,083,564

• 19 · Deferred revenue

  beginning of year $22,607 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $4,442,609 · end of year $4,220,151

• 25 · Other liabilities

  beginning of year $1,800,500 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $15,975,675 · end of year $18,821,949

• 28 · Net assets with donor restrictions

  beginning of year $295,560,033 · end of year $312,967,285

The filer's explanations (Part III)

PART I, LINE 1A

THE FOUNDATION PAYS FOR ONE OFFICER'S MEMBERSHIP TO A GOLF CLUB FOR BONAFIDE BUSINESS REASONS. THE EXPENSE IS A TAXABLE BENEFIT TO THE OFFICER. THE FOUNDATION HAS A POLICY THAT ALLOWS A SPOUSE OR PARTNER TO ACCOMPANY DIRECTORS ON FOUNDATION TRIPS FOR BONAFIDE BUSINESS REASONS WITH PRIOR APPROVAL FROM A SUPERVISOR. TWO DIRECTORS HAD THEIR SPOUSES ACCOMPANY THEM FOR BONAFIDE BUSINESS REASONS. SPOUSAL TRAVEL IS A TAXABLE BENEFIT TO THE DIRECTORS. ONE OFFICER LISTED ON FORM 990, PART VII, SECTION A, LINE 1A RECEIVED A ONE-TIME PAYMENT WHICH WAS GROSSED UP FOR RELATED TAX AMOUNTS AND INCLUDED IN THEIR TAXABLE INCOME.

PART I, LINE 4A

DURING THE TAX YEAR, KATHY HOWRIGAN RECEIVED A SEVERANCE PAYMENT WHICH IS REPORTED IN PART II, COLUMN B(III).

PART I, LINE 7

TWO OFFICERS, ONE KEY EMPLOYEE, AND ONE HIGHEST COMPENSATED EMPLOYEE LISTED ON FORM 990, PART VII, SECTION A, LINE A RECEIVED A ONE-TIME BONUS OR RELOCATION PAYMENT.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• UVMF HOLDINGS LLC

  INVEST HOLD · VT · income $1,504,570 · assets $42,773,768

  Directly controlled by FOUNDATION

• UNIVERSITY OF VERMONT INVESTMENT COMPANY

  INVEST HOLD · VT · income $0 · assets $0

  Directly controlled by FOUNDATION

Related partnerships

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

• FEUSRA REIT HOLDINGS LLC

  INVESTMENT · DE · 99.8% owned · share of assets $1,327,700

  Directly controlled by UVM FOUNDATION