Form 990 for tax year 2024
Filed by UNIVERSITY OF MARY WASHINGTON FOUNDATION.
Totals
- Total revenue
- $21,673,643
- Total expenses
- $7,329,657
- Contributions and grants received
- $12,577,981
- Grants paid
- $4,878,466
- Program service revenue
- $346,311
- Investment income
- $8,450,919
- Other revenue
- $298,432
- Total assets, end of year
- $144,708,038
- Total liabilities, end of year
- $5,203,931
- Net assets or fund balances, end of year
- $139,504,107
- Program services expenses (Part IX)
- $5,772,146
- Management and general expenses
- $1,249,077
- Fundraising expenses
- $308,434
- Program service expenses (Part III)
- $5,772,146
Program services were 78.8% 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.
-
1f · All other contributions, gifts and grants
$12,577,981
-
1g · Noncash contributions included above
$792,797
-
2a · Program service revenue: UNIVERSITY RENTAL INCOME
total $346,311 · related or exempt $346,311
-
3 · Investment income
total $2,177,116 · unrelated business -$75,922 · excluded $2,253,038
-
7a · Gross sales of assets other than inventory
securities $10,470,607
-
7b · Less cost or other basis and sales expenses
securities $4,196,804
-
7c · Gain or loss
securities $6,273,803
-
7d · Net gain or loss
total $6,273,803 · excluded $6,273,803
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $298,432 · excluded $298,432
-
11e · Other revenue, total
$298,432
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $4,878,466 · program services $4,878,466
-
5 · Compensation of officers, directors and key employees
total $29,791 · management and general $29,791
-
7 · Other salaries and wages
total $698,049 · program services $446,598 · management and general $251,451
-
8 · Pension plan contributions
total $3,242 · management and general $3,242
-
9 · Other employee benefits
total $185,474 · program services $20,330 · management and general $165,144
-
10 · Payroll taxes
total $14,760 · management and general $14,760
-
11b · Fees: legal
total $99,946 · management and general $99,946
-
11c · Fees: accounting
total $164,681 · management and general $164,681
-
11f · Fees: investment management
total $342,114 · management and general $342,114
-
13 · Office expenses
total $63,772 · management and general $63,772
-
17 · Travel
total $50,311 · fundraising $50,311
-
19 · Conferences, conventions and meetings
total $12,173 · fundraising $12,173
-
20 · Interest
total $188,776 · program services $188,776
-
22 · Depreciation, depletion and amortization
total $90,330 · program services $90,330
-
23 · Insurance
total $183,477 · program services $147,646 · management and general $35,831
-
24e · All other expenses
total $324,295 · management and general $78,345 · fundraising $245,950
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,002,396 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $13,768,376 · end of year $18,475,530
-
3 · Pledges and grants receivable
beginning of year $24,786,846 · end of year $1,779,116
-
4 · Accounts receivable
beginning of year $380,521 · end of year $36,771
-
7 · Other notes and loans receivable
beginning of year $75,000 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $97,902 · end of year $151,091
-
10a · Land, buildings and equipment: cost or other basis
$19,198,101
-
10b · Land, buildings and equipment: accumulated depreciation
$1,598,748
-
10c · Land, buildings and equipment, net
beginning of year $17,664,683 · end of year $17,599,353
-
11 · Investments: publicly traded securities
beginning of year $55,680,557 · end of year $81,043,730
-
12 · Investments: other securities
beginning of year $19,199,549 · end of year $25,562,899
-
15 · Other assets
beginning of year $670,485 · end of year $59,548
-
17 · Accounts payable and accrued expenses
beginning of year $618,121 · end of year $261,375
-
20 · Tax-exempt bond liabilities
beginning of year $1,500,421 · end of year $1,425,357
-
23 · Secured mortgages and notes payable
beginning of year $8,553,214 · end of year $1,641,833
-
25 · Other liabilities
beginning of year $1,937,148 · end of year $1,875,366
-
27 · Net assets without donor restrictions
beginning of year -$4,786,255 · end of year -$1,643,728
-
28 · Net assets with donor restrictions
beginning of year $125,503,666 · end of year $141,147,835
Mission and programs · 2024
Mission
TO RECEIVE, HOLD, INVEST, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY OF ALL KINDS, EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON.
Activities or mission (Part I)
TO RECEIVE, HOLD, AND ADMINISTER FUNDS AND PROPERTY OF ALL KINDS, FOR THE FURTHERANCE OF THE OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON.
-
THE UMW FOUNDATION SERVES AS THE PRIVATE ASSET MANAGER FOR THE UNIVERISITY OF MARY WASHINGTON. THE FOUNDATION MANAGES ALL OF THE UNIVERSITY'S PRIVATELY DONATED CASH AND INVESTMENTS.
Expenses $5,772,146 · Grants $4,878,466 · Revenue $346,311
As filed on the 2024 return.
Listed in Part VII
-
Robert Barry EsqROBERT BARRY ESQ
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.1
-
Patricia KempPATRICIA KEMP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Anne SteenANNE STEEN
CHAIR
- Total calculated
- $0
- Hours/week
- 0.3
-
Jacob LongJACOB LONG
TREASURER
- Total calculated
- $0
- Hours/week
- 0.3
-
Louis MarmoLOUIS MARMO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Abas AdenanABAS ADENAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Daniel ClendeninDANIEL CLENDENIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
John BowmanJOHN BOWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Mikhael CharnoffMIKHAEL CHARNOFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Janel DonohueJANEL DONOHUE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
James LlewellynJAMES LLEWELLYN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Xavier RichardsonXAVIER RICHARDSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Kerwin MillerKERWIN MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Leslie TilghmanLESLIE TILGHMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Justin GerbereuxJUSTIN GERBEREUX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Donna GladisDONNA GLADIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Michael JohnsonMICHAEL JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Vicky WilderVICKY WILDER
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.3
-
Sarah StrassheimSARAH STRASSHEIM
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 0.3
-
William MurrayWILLIAM MURRAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Troy PainoTROY PAINO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Kourtney WhiteheadKOURTNEY WHITEHEAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Robert WhittROBERT WHITT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Catherine TurcotteCATHERINE TURCOTTE
EXECUTIVE DIRECTOR
- Total calculated
- $11,796
- From this org
- $11,796
- From related orgs
- $0
- Other
- $0
- Hours/week
- 30
-
Shannon WilliamsSHANNON WILLIAMS
CONTROLLER
- Total calculated
- $121,427
- From this org
- $121,427
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Jeffrey RountreeJEFFREY ROUNTREE
FORMER CEO
- Total calculated
- $348,762
- From this org
- $348,762
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $198,914
- Bonus
- $0
- Other
- $149,848
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $348,762
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 · Written employment contract
- 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
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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINES 4A-B
- THE CEO RECEIVED A $149,848 SEVERANCE PAYMENT. THE TERMS AND CONDITIONS WERE CONSISTENT WITH INDUSTRY STANDARDS. THE FOUNDATION ESTABLISHED A NON-QUALIFIED DEFERRED COMPENSATION 457(F) PLAN FOR THE CEO IN FYE 2017. DURING 6/30/2025, THE FOUNDATION DID NOT MAKE A CONTRIBUTION TO THE PLAN SINCE HE SEPARATED FROM THE ORGANIZATION.
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
-
UNIVERSITY OF MARY WASHINGTON
$4,521,393
STUDENT SCHOLARSHIPS, FACULTY AWARDS AND OTHER SUPPORT OF UNIVERSITY SERVICES
-
DONATION TO SUPPORT UNIVERSITY SERVICES AND PROGRAMS
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.
-
ACADEMIC VILLAGE LLC
REAL ESTATE HOLDING COMPANY · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
EAGLE DEVELOPERS LLC
CONSTRUCTION DEVELOPMENT · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
EAGLE HOSPITALITY LLC
SELECT SERVICE HOTEL · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
EAGLE HOUSING LLC
STUDENT HOUSING PROJECTS HOLDING COMPANY · VA · income $0 · assets $0
Directly controlled by UNIVERSITY OF MARY WASHINGTON FOUNDATION
-
EAGLE LAND PROPERTIES LLC
REAL ESTATE HOLDING COMPANY · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
EAGLE PIZZA LLC
RENTAL PROPERTY-RETAIL · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
EAGLE PROPERTY HOLDINGS LLC
REAL ESTATE HOLDING COMPANY · VA · income $0 · assets $0
Directly controlled by UNIVERSITY OF MARY WASHINGTON FOUNDATION
-
EAGLE VILLAGE I LLC
RENTAL PROPERTY-RETAIL · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
EAGLE VILLAGE - ROGER DODGER LLC
RENTAL PROPERTY-RETAIL · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
SNOWDEN STREET LLC
RENTAL PROPERTY-RETAIL · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
-
TRANSITIONAL PROPERTIES LLC
REAL ESTATE HOLDING COMPANY · VA · income $0 · assets $0
Directly controlled by EAGLE PROPERTY HOLDINGS LLC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 1 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611249349300106
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