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← THOMAS JEFFERSON FOUNDATION INC

Form 990 for tax year 2022

Filed by THOMAS JEFFERSON FOUNDATION INC.

Totals

Total revenue
$56,873,096
Total expenses
$39,515,463
Contributions and grants received
$10,624,532
Grants paid
$187,376
Program service revenue
$10,261,497
Investment income
$28,266,575
Other revenue
$7,720,492
Total assets, end of year
$353,952,978
Total liabilities, end of year
$50,706,568
Net assets or fund balances, end of year
$303,246,410
Program services expenses (Part IX)
$30,186,541
Management and general expenses
$8,074,117
Fundraising expenses
$1,254,805
Program service expenses (Part III)
$30,186,541

Program services were 76.4% 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.

  • 1e · Government grants (contributions)

    $343,032

  • 1f · All other contributions, gifts and grants

    $10,281,500

  • 1g · Noncash contributions included above

    $1,069,607

  • 2a · Program service revenue: ADMISSION FEES

    total $9,421,508 · related or exempt $9,421,508

  • 2b · Program service revenue: FOOD SERVICE SALES

    total $489,909 · excluded $489,909

  • 2c · Program service revenue: OTHER PROGRAM INCOME

    total $350,080 · related or exempt $350,080

  • 3 · Investment income

    total $1,901,026 · excluded $1,901,026

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $13,673 · related or exempt $13,673

  • 6a · Gross rents

    real property $189,355

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $189,355 · personal property $0

  • 6d · Net rental income or loss

    total $189,355 · related or exempt $189,355

  • 7a · Gross sales of assets other than inventory

    securities $291,780,880

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

    securities $265,415,331

  • 7c · Gain or loss

    securities $26,365,549

  • 7d · Net gain or loss

    total $26,365,549 · unrelated business $186,823 · excluded $26,178,726

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $12,825,297

  • 10b · Cost of goods sold

    $5,307,833

  • 10c · Net income from sales of inventory

    total $7,517,464 · related or exempt $7,152,524 · unrelated business $364,940

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,000 · program services $12,000

  • 2 · Grants to domestic individuals

    total $133,376 · program services $133,376

  • 3 · Grants to foreign organizations and individuals

    total $42,000 · program services $42,000

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $1,374,227 · program services $515,126 · management and general $859,101

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $12,136,108 · program services $10,345,524 · management and general $1,353,399 · fundraising $437,185

  • 8 · Pension plan contributions

    total $520,319 · program services $460,818 · management and general $45,441 · fundraising $14,060

  • 9 · Other employee benefits

    total $1,287,034 · program services $1,137,379 · management and general $125,096 · fundraising $24,559

  • 10 · Payroll taxes

    total $959,795 · program services $811,746 · management and general $114,541 · fundraising $33,508

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $916,946 · program services $92,274 · management and general $807,929 · fundraising $16,743

  • 11c · Fees: accounting

    total $129,170 · management and general $129,170

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $1,191,078 · management and general $1,191,078

  • 11g · Fees: other

    total $4,077,607 · program services $3,544,928 · management and general $347,992 · fundraising $184,687

  • 12 · Advertising and promotion

    total $870,228 · program services $870,228

  • 13 · Office expenses

    total $2,575,871 · program services $2,427,361 · management and general $92,508 · fundraising $56,002

  • 14 · Information technology

    total $1,103,028 · program services $904,243 · management and general $145,369 · fundraising $53,416

  • 15 · Royalties

    total $301 · program services $301

  • 16 · Occupancy

    total $744,078 · program services $536,927 · management and general $202,017 · fundraising $5,134

  • 17 · Travel

    total $1,153,340 · program services $916,219 · management and general $68,209 · fundraising $168,912

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $38,866 · program services $35,294 · management and general $3,503 · fundraising $69

  • 20 · Interest

    total $1,271,210 · management and general $1,271,210

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $3,330,991 · program services $2,398,917 · management and general $909,136 · fundraising $22,938

  • 23 · Insurance

    total $343,143 · management and general $343,143

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $2,326,741 · program services $2,134,592 · management and general $27,280 · fundraising $164,869

  • 24b · Other expenses: SHIPPING AND HANDLING

    total $1,492,827 · program services $1,492,827

  • 24c · Other expenses: PRINTING AND PUBLICATIONS

    total $1,175,536 · program services $1,095,770 · management and general $13,628 · fundraising $66,138

  • 24d · Other expenses: CONSERVATION AND COLLECTIONS

    total $163,437 · program services $163,437

  • 24e · All other expenses

    total $146,206 · program services $115,254 · management and general $24,367 · fundraising $6,585

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $5,933,828 · end of year $21,088,132

  • 3 · Pledges and grants receivable

    beginning of year $1,232,291 · end of year $4,272,309

  • 4 · Accounts receivable

    beginning of year $1,698,875 · end of year $1,746,312

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $2,517,974 · end of year $4,188,534

  • 9 · Prepaid expenses and deferred charges

    beginning of year $905,372 · end of year $725,106

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

    $125,684,438

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

    $49,477,035

  • 10c · Land, buildings and equipment, net

    beginning of year $66,057,104 · end of year $76,207,403

  • 11 · Investments: publicly traded securities

    beginning of year $40,996,179 · end of year $62,888,584

  • 12 · Investments: other securities

    beginning of year $275,836,293 · end of year $180,128,815

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $1,895,668

  • 15 · Other assets

    beginning of year $315,870 · end of year $812,115

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,777,717 · end of year $19,136,926

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $29,746,000 · end of year $29,746,000

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 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 $1,363,000 · end of year $1,163,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,637,696 · end of year $660,642

  • 27 · Net assets without donor restrictions

    beginning of year $219,044,609 · end of year $186,422,761

  • 28 · Net assets with donor restrictions

    beginning of year $137,924,764 · end of year $116,823,649

Mission and programs · 2022

Mission

THE THOMAS JEFFERSON FOUNDATION'S MISSION IS TWO-FOLD: PRESERVATION - TO CONSERVE, PROTECT, AND MAINTAIN MONTICELLO IN A MANNER THAT LEAVES IT ENHANCED AND UNIMPAIRED FOR FUTURE GENERATIONS AND EDUCATION - TO INTERPRET AND PRESENT THOMAS JEFFERSON, HIS FAMILY, AND THOSE HE HELD IN SLAVERY TO THE WIDEST POSSIBLE AUDIENCES, INCLUDING SCHOLARS AND THE GENERAL PUBLIC. THE FOUNDATION'S TWENTY-FIRST CENTURY VISION IS TO BRING HISTORY FORWARD INTO NATIONAL AND GLOBAL DIALOGUES.

Activities or mission (Part I)

THE MISSION IS TO PRESERVE MONTICELLO AND SHARE THE HISTORY AND LEGACY OF THOMAS JEFFERSON, HIS FAMILY, AND THOSE HE HELD IN SLAVERY, WITH A GLOBAL AUDIENCE.

  • THE THOMAS JEFFERSON FOUNDATION OPERATES MONTICELLO, THE HOME OF THE NATION'S THIRD PRESIDENT AND AUTHOR OF THE AMERICAN DECLARATION OF INDEPENDENCE. OVER THE PAST TEN YEARS, AN AVERAGE OF 400,000 PEOPLE HAVE VISITED MONTICELLO ANNUALLY. ADMISSION INCLUDES AN INTERPRETIVE GUIDED TOUR OF HIS HOME, ONE OF OUR COUNTRY'S FOREMOST ARCHITECTURAL MASTERPIECES AND THE ONLY HOME IN AMERICA NAMED TO THE UNITED NATIONS WORLD HERITAGE LIST. IN ADDITION TO ADMISSION REVENUE, THE ABOVE TOTAL ALSO INCLUDES GIFTS AND GRANTS, AND SALES FROM THE RETAIL OPERATIONS OF THE MUSEUM SHOPS, CATALOG, AND ONLINE STORE. THE REVENUE CONTRIBUTES TO THE PRESERVATION OF MONTICELLO FOR FUTURE GENERATIONS, WHICH IS ONE OF THE MISSIONS OF THE FOUNDATION. THE FOUNDATION'S RESTORATION DEPARTMENT IS DEDICATED TO THE ARCHITECTURAL PRESERVATION OF THE UNITED NATIONS WORLD HERITAGE HOUSE WHILE THE CURATORIAL COLLECTIONS ARE UNDER THE CARE OF A FULL-TIME CURATORIAL DEPARTMENT.

    Expenses $26,478,806 · Grants $19,876 · Revenue $10,261,497

  • THE THOMAS JEFFERSON FOUNDATION OPERATES THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES, WHICH HOUSES THE THOMAS JEFFERSON LIBRARY. THE CENTER IS ALSO DEVOTED TO EDUCATION OF THE GENERAL PUBLIC AS WELL AS SCHOLARLY RESEARCH AND PUBLICATION, THROUGH THE JEFFERSON LIBRARY, ARCHAEOLOGICAL RESEARCH AND PUBLICATION, AND OTHER ADULT EDUCATION PROGRAMS. THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES ALSO IS RESPONSIBLE FOR THE RESEARCH AND PUBLICATION OF 24 VOLUMES OF RESEARCH, THE PAPERS OF THOMAS JEFFERSON, EMBRACING THE PERIOD FROM JEFFERSON'S RETIREMENT FROM THE PRESIDENCY IN MARCH 1809 UNTIL HIS DEATH IN 1826, KNOWN AS THE "RETIREMENT SERIES".

    Expenses $3,707,735 · Grants $167,500

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

Listed in Part VII

  • Leslie Greene Bowman

    PRESIDENT

    Total calculated
    $657,395
    From this org
    $589,420
    From related orgs
    $0
    Other
    $67,975
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $583,496
    Bonus
    $0
    Other
    $5,924
    Deferred
    $59,300
    Nontaxable benefits
    $8,675
    Filer's total
    $657,395

  • Laura B Terry

    VICE PRESIDENT & CFO

    Total calculated
    $373,528
    From this org
    $340,330
    From related orgs
    $0
    Other
    $33,198
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $320,330
    Bonus
    $20,000
    Other
    $0
    Deferred
    $18,300
    Nontaxable benefits
    $14,898
    Filer's total
    $373,528

  • Mariane A Doyle

    VP,DIVERSITY,EQ.,ACCESSIBILTY

    Total calculated
    $225,025
    From this org
    $209,565
    From related orgs
    $0
    Other
    $15,460
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,565
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,460
    Filer's total
    $225,025

  • Peter G Hallock

    VP, ARCHITECTURE & FAC

    Total calculated
    $192,547
    From this org
    $172,581
    From related orgs
    $0
    Other
    $19,966
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $169,581
    Bonus
    $3,000
    Other
    $0
    Deferred
    $10,678
    Nontaxable benefits
    $9,288
    Filer's total
    $192,547

  • Andrew J O'Shaughnessy

    VP & SAUNDERS DIR (THRU 10/22)

    Total calculated
    $186,477
    From this org
    $169,320
    From related orgs
    $0
    Other
    $17,157
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $169,320
    Bonus
    $0
    Other
    $0
    Deferred
    $10,212
    Nontaxable benefits
    $6,945
    Filer's total
    $186,477

  • John J Looney

    EDITOR, THOMAS JEFFERSON PAPER

    Total calculated
    $178,783
    From this org
    $153,411
    From related orgs
    $0
    Other
    $25,372
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,411
    Bonus
    $0
    Other
    $0
    Deferred
    $9,802
    Nontaxable benefits
    $15,570
    Filer's total
    $178,783

  • Sharon L McElroy

    DIRECTOR OF RETAIL SALES

    Total calculated
    $164,697
    From this org
    $148,184
    From related orgs
    $0
    Other
    $16,513
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,834
    Bonus
    $1,500
    Other
    $850
    Deferred
    $8,399
    Nontaxable benefits
    $8,114
    Filer's total
    $164,697

  • Andrew Huff

    DIRECTOR OF IT

    Total calculated
    $159,580
    From this org
    $140,656
    From related orgs
    $0
    Other
    $18,924
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $138,656
    Bonus
    $2,000
    Other
    $0
    Deferred
    $8,948
    Nontaxable benefits
    $9,976
    Filer's total
    $159,580

  • Gary L Sandling

    VP OF Strategy (THRU 08/22)

    Total calculated
    $156,826
    From this org
    $150,072
    From related orgs
    $0
    Other
    $6,754
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,963
    Bonus
    $0
    Other
    $10,109
    Deferred
    $6,754
    Nontaxable benefits
    $0
    Filer's total
    $156,826

  • Melody Barnes

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Tobias Dengel

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Molly Hardie

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dr Ld Britt MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Coolidge

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joseph Erdman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Annette Gordon-Reed

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Renee Grisham

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • David C Landin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Suzi Levine

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • E Charles Longley Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nancy Cain Marcus

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jon L Nau

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sarah Perot

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher J Toomey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William H Walton III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Miki Woodard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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 · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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 FOUNDATION HAS A TRAVEL REIMBURSEMENT POLICY IN PLACE WHICH DETAILS TRAVEL ELIGIBLE FOR REIMBURSEMENT. ANY SUCH REQUEST MUST BE APPROVED BY THE EMPLOYEE'S SUPERVISOR. IN THE CASE OF THE FOUNDATION PRESIDENT ALL REIMBURSEMENTS ARE REVIEWED BY THE BOARD CHAIR. THE FOUNDATION REQUIRES MS. BOWMAN TO LIVE IN FOUNDATION-PROVIDED HOUSING. VALUATION OF THE HOUSING PROVIDED IS ASSESSED BY AN INDEPENDENT THIRD-PARTY REALTOR.
PART I, LINE 4B:
LESLIE GREENE BOWMAN - $41,000 CONTRIBUTION TO NONQUALIFIED DEFERRED COMPENSATION PLAN.

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.

Disregarded entities

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

  • JEFFERSON VINEYARDS LLC

    VINEYARD · VA · income $0 · assets $15,156,549

    Directly controlled by TJFINC

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349324019

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