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Nonprofiteer
← JEFFERSON SCHOLARS FOUNDATION

Form 990 for tax year 2022

Filed by JEFFERSON SCHOLARS FOUNDATION.

Totals

Total revenue
$33,501,224
Total expenses
$33,928,905
Contributions and grants received
$33,160,494
Grants paid
$22,562,420
Program service revenue
$0
Investment income
$503,729
Other revenue
-$162,999
Total assets, end of year
$764,689,436
Total liabilities, end of year
$83,781,663
Net assets or fund balances, end of year
$680,907,773
Program services expenses (Part IX)
$27,744,006
Management and general expenses
$3,650,840
Fundraising expenses
$2,534,059
Program service expenses (Part III)
$27,744,006

Program services were 81.8% 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

    $33,160,494

  • 1g · Noncash contributions included above

    $483,428

  • 3 · Investment income

    total $795,796 · unrelated business $153,699 · excluded $642,097

  • 6a · Gross rents

    real property $814,135

  • 6b · Less rental expenses

    real property $977,134

  • 6c · Rental income or loss

    real property -$162,999

  • 6d · Net rental income or loss

    total -$162,999 · unrelated business -$238,754 · excluded $75,755

  • 7a · Gross sales of assets other than inventory

    securities $1,086,986 · other assets $15,040,916

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

    securities $1,089,875 · other assets $15,330,094

  • 7c · Gain or loss

    securities -$2,889 · other assets -$289,178

  • 7d · Net gain or loss

    total -$292,067 · excluded -$292,067

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $21,784,134 · program services $21,784,134

  • 3 · Grants to foreign organizations and individuals

    total $778,286 · program services $778,286

  • 5 · Compensation of officers, directors and key employees

    total $2,164,183 · program services $456,263 · management and general $565,677 · fundraising $1,142,243

  • 7 · Other salaries and wages

    total $1,013,450 · program services $639,836 · management and general $257,430 · fundraising $116,184

  • 8 · Pension plan contributions

    total $349,990 · program services $114,857 · management and general $96,359 · fundraising $138,774

  • 9 · Other employee benefits

    total $778,133 · program services $216,329 · management and general $245,420 · fundraising $316,384

  • 10 · Payroll taxes

    total $201,709 · program services $69,367 · management and general $54,928 · fundraising $77,414

  • 11b · Fees: legal

    total $27,242 · management and general $27,242

  • 11c · Fees: accounting

    total $68,000 · management and general $68,000

  • 11f · Fees: investment management

    total $1,392,808 · management and general $1,392,808

  • 11g · Fees: other

    total $50,818 · program services $10,149 · management and general $31,762 · fundraising $8,907

  • 13 · Office expenses

    total $320,240 · program services $147,365 · management and general $88,616 · fundraising $84,259

  • 14 · Information technology

    total $121,884 · program services $40,628 · management and general $40,628 · fundraising $40,628

  • 16 · Occupancy

    total $730,957 · program services $537,971 · management and general $70,875 · fundraising $122,111

  • 17 · Travel

    total $219,639 · program services $4,570 · management and general $1,694 · fundraising $213,375

  • 19 · Conferences, conventions and meetings

    total $92,745 · management and general $92,745

  • 20 · Interest

    total $1,032,589 · program services $791,635 · management and general $119,639 · fundraising $121,315

  • 22 · Depreciation, depletion and amortization

    total $963,438 · program services $738,620 · management and general $111,627 · fundraising $113,191

  • 23 · Insurance

    total $117,327 · management and general $117,327

  • 24a · Other expenses: SCHOLAR ENRICHMENT

    total $924,372 · program services $924,372

  • 24b · Other expenses: SCHOLARSHIP SELECTION

    total $487,335 · program services $487,335

  • 24c · Other expenses: TAXES AND LICENSES

    total $253,321 · management and general $240,610 · fundraising $12,711

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $39,821 · program services $2,289 · management and general $10,969 · fundraising $26,563

  • 24e · All other expenses

    total $16,484 · management and general $16,484

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $23,784,349 · end of year $25,113,441

  • 3 · Pledges and grants receivable

    beginning of year $62,667,090 · end of year $60,608,949

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,021,950 · end of year $1,059,800

  • 7 · Other notes and loans receivable

    beginning of year $2,600,000 · end of year $2,600,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $538,049 · end of year $554,900

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

    $30,799,355

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

    $10,951,966

  • 10c · Land, buildings and equipment, net

    beginning of year $20,695,632 · end of year $19,847,389

  • 12 · Investments: other securities

    beginning of year $571,912,454 · end of year $569,932,931

  • 15 · Other assets

    beginning of year $52,820,994 · end of year $84,972,026

  • 17 · Accounts payable and accrued expenses

    beginning of year $411,597 · end of year $524,181

  • 18 · Grants payable

    beginning of year $38,638,558 · end of year $46,685,330

  • 20 · Tax-exempt bond liabilities

    beginning of year $22,500,000 · end of year $22,500,000

  • 24 · Unsecured notes and loans payable

    end of year $9,919,563

  • 25 · Other liabilities

    beginning of year $5,131,299 · end of year $4,152,589

  • 27 · Net assets without donor restrictions

    beginning of year $21,741,317 · end of year $21,638,153

  • 28 · Net assets with donor restrictions

    beginning of year $647,617,747 · end of year $659,269,620

Mission and programs · 2022

Mission

THE JEFFERSON SCHOLARS FOUNDATION (FOUNDATION) PROVIDES ACADEMIC MERIT-BASED SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP SUPPORT TO STUDENTS AND FACULTY AT THE UNIVERSITY OF VIRGINIA (UVA).

  • SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAM IN SUPPORT OF UVA.THE FOUNDATION AWARDS ACADEMIC MERIT-BASED, FULL COST, FOUR-YEAR SCHOLARSHIP GRANTS TO BETWEEN 32 AND 50 INCOMING UNDERGRADUATES EACH YEAR. THE FOUNDATION ALSO AWARDED 21 ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO INCOMING PHD AND MBA CANDIDATES AND 7 ACADEMIC MERIT-BASED GRADUATE FELLOWSHIPS TO NATIONAL FELLOWS DURING FISCAL YEAR 2023. LASTLY, THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 6 UVA PROFESSORS AND PROVIDED SUPPORT FOR 12 GRADUATE STUDENTS WORKING WITH THE PROFESSORS. OVERALL, THE FOUNDATION PROVIDED FINANCIAL SUPPORT TO 303 STUDENTS AND FACULTY.

    Expenses $27,744,006 · Grants $22,562,420

As filed on the 2022 return.

Listed in Part VII

  • ALLISON CRYOR DINARDO

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • ANNA M NEKORANEC

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • ANNE W POOLE

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • BRUCE A MILLER

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • MERRY W DOUGHERTY

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH H VALENTINE

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • E COURTNEY JOHNSON

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • FRANKLIN S EDMONDS JR

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • TYLER S HENRITZE

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • J DALE HARVEY II

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • JAMALA K MASSENBURG

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • JAMES E RYAN

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • KAREN CLARKE BARNES

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • KIRKMAN FINLAY III

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • LAWRENCE D HOWELL II

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • LEONARD J BUCK II

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • LINDA G RENNER

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • MARK T MASSEY

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • ROBERT S PITTS JR

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • RAYMOND KENNON POTEAT III

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • PAUL R IZLAR

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • ROBERT G BYRON

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • ROBERT W DOWNES

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • SHAHNAZ BATMANGHELIDJ

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • STEPHEN S CRAWFORD

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    3

  • T WESTRAY BATTLE III

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    1

  • TIFFANY B ARMSTRONG

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY J INGRASSIA

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY J NAUGHTON

    FOUNDATION BOARD OF DIRECT

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM L POLK JR

    VICE CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    3

  • HELEN M DWYER

    ASSISTANT SECRETARY

    Total calculated
    $228,094
    From this org
    $196,694
    From related orgs
    $0
    Other
    $31,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,283
    Bonus
    $17,561
    Other
    $850
    Deferred
    $24,569
    Nontaxable benefits
    $6,831
    Filer's total
    $228,094

  • JAMES H WRIGHT

    PRESIDENT/SECRETARY/TREASU

    Total calculated
    $1,212,220
    From this org
    $886,765
    From related orgs
    $0
    Other
    $325,455
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $412,826
    Bonus
    $120,375
    Other
    $353,564
    Deferred
    $308,125
    Nontaxable benefits
    $17,330
    Filer's total
    $1,212,220

  • ROBBYN L CALLAHAN

    ASSISTANT TREASURER

    Total calculated
    $194,677
    From this org
    $157,517
    From related orgs
    $0
    Other
    $37,160
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,140
    Bonus
    $7,625
    Other
    $752
    Deferred
    $19,830
    Nontaxable benefits
    $17,330
    Filer's total
    $194,677

  • BENJAMIN B SKIPPER

    DIRECTOR, GRADUATE AND UND

    Total calculated
    $259,306
    From this org
    $169,687
    From related orgs
    $0
    Other
    $89,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,194
    Bonus
    $14,325
    Other
    $14,168
    Deferred
    $69,952
    Nontaxable benefits
    $19,667
    Filer's total
    $259,306

  • S PATRICK INGRAM

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $451,417
    From this org
    $304,500
    From related orgs
    $0
    Other
    $146,917
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,681
    Bonus
    $25,625
    Other
    $19,194
    Deferred
    $126,076
    Nontaxable benefits
    $20,841
    Filer's total
    $451,417

  • CHRISTINE E PATRICK

    ASSOCIATE DIRECTOR OF DEVE

    Total calculated
    $149,330
    From this org
    $126,909
    From related orgs
    $0
    Other
    $22,421
    Hours/week
    40

  • KEVIN E MURRAY

    DIRECTOR OF GIFT PLANNING

    Total calculated
    $185,395
    From this org
    $148,259
    From related orgs
    $0
    Other
    $37,136
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,267
    Bonus
    $375
    Other
    $12,617
    Deferred
    $17,469
    Nontaxable benefits
    $19,667
    Filer's total
    $185,395

  • PETER W SCHMIDT

    MAJOR GIFTS OFFICER

    Total calculated
    $149,607
    From this org
    $133,672
    From related orgs
    $0
    Other
    $15,935
    Hours/week
    40

  • JOYCE CARMAN

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $141,413
    From this org
    $120,862
    From related orgs
    $0
    Other
    $20,551
    Hours/week
    40

  • LEW BURRUS

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $137,311
    From this org
    $116,221
    From related orgs
    $0
    Other
    $21,090
    Hours/week
    40

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

  • 1a · Discretionary spending account
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 1A
THE JEFFERSON SCHOLARS FOUNDATION PROVIDED HEALTH CLUB DUES REIMBURSEMENT TO JAMES H. WRIGHT, S. PATRICK INGRAM, KEVIN E. MURRAY, BENJAMIN B. SKIPPER, CHRISTINE E. PATRICK, AND PETER E. SCHIMIDT. THIS BENEFIT WAS PROVIDED TO ENHANCE THEIR BENEFIT PACKAGES AND ASSIST IN EMPLOYEE RETENTION.
PART I, LINE 4B
THE FOUNDATION PROVIDED A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN TO: JAMES H. WRIGHT, S. PATRICK INGRAM, AND BENJAMIN B. SKIPPER. AMOUNTS PAID INTO THE PLAN WERE: $280,000, $95,000, AND $55,000, RESPECTIVELY.

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

No itemized grants to organizations 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.

Disregarded entities

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

Related corporations and trusts

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

  • CHARITABLE REMAINDER UNITRUSTS (6)

    TRUST · VA

    Directly controlled by JSF

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202313189349313101

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