Totals
- Total revenue
- $50,306,271
- Total expenses
- $56,977,597
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $24,313,185
- Investment income
- $25,993,086
- Other revenue
- $0
- Total assets, end of year
- $1,095,224,673
- Total liabilities, end of year
- $1,538,082
- Net assets or fund balances, end of year
- $1,093,686,591
- Program services expenses (Part IX)
- $56,977,597
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $56,977,597
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Listed in Part VII
-
ELIZABETH CABELL JENNINGS
CHAIR/TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JAMES E MALLORY
VICE CHAIR/TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
A Clayton Perfall
TRUSTEE (TERM BEGAN 10/23)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
ANDREW W HORROCKS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
CLIFFORD B FLEET
TRUSTEE (TERM ENDED 10/23)
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
DARPAN SUBHASH KAPADIA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
DAVID R COVIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
EUGENE P FOLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
J SCOTT PERKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JAMES A HIXON
TRUSTEE (TERM ENDED 10/23)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JANET R ATWATER
TRUSTEE (TERM BEGAN 10/23)
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
JODY W FORSYTH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
John Fernando
TRUSTEE (TERM BEGAN 10/23)
- Total calculated
- $0
- Hours/week
- 1
-
KARIM HK AHAMED
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
MICHAEL C PETTERS
TRUSTEE (TERM BEGAN 10/23)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
PAUL R ECKERT
TRUSTEE (TERM ENDED 10/23)
- Total calculated
- $0
- Hours/week
- 1 + 0.5 related
-
CATHERINE MOUNTJOY
CHIEF OPERATING OFFICER
- Total calculated
- $363,538
- From this org
- $0
- From related orgs
- $315,856
- Other
- $47,682
- Hours/week
- 40 + 5 related
Schedule J breakdown matched by us
- Base
- $0 + $243,819 related
- Bonus
- $0 + $71,254 related
- Other
- $0 + $783 related
- Deferred
- $0 + $21,233 related
- Nontaxable benefits
- $0 + $26,449 related
- Filer's total
- $0 + $363,538 related
-
F BRIAN HIESTAND
CHIEF INVESTMENT OFFICER
- Total calculated
- $451,858
- From this org
- $0
- From related orgs
- $384,314
- Other
- $67,544
- Hours/week
- 40 + 10 related
Schedule J breakdown matched by us
- Base
- $0 + $333,174 related
- Bonus
- $0 + $49,455 related
- Other
- $0 + $1,685 related
- Deferred
- $0 + $34,800 related
- Nontaxable benefits
- $0 + $32,744 related
- Filer's total
- $0 + $451,858 related
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
- WILLIAM & MARY (THE UNIVERSITY) IS THE COMMON PAYMASTER FOR EMPLOYEES OF WILLIAM & MARY FOUNDATION (THE FOUNDATION), THE CONTROLLING ORGANIZATION OF 1693 PARTNERS FUND (THE ORGANIZATION). THE UNIVERSITY AND THE FOUNDATION ARE NOT RELATED ENTITIES AND THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE SALARY AND BENEFIT COSTS FOR FOUNDATION EMPLOYEES FOR SERVICES PERFORMED EXCLUSIVELY FOR THE FOUNDATION AND ITS CONTROLLED ORGANIZATIONS. COMPENSATION IS GENERALLY ESTABLISHED WITHIN THE GUIDELINES OF THE UNIVERSITY, INCLUDING COMPARABLE MARKET DATA AS APPROPRIATE. COMPENSATION FOR THE CHIEF INVESTMENT OFFICER IS DETERMINED IN PART BY THE BOARD OF MANAGERS OF 1693 MANAGEMENT COMPANY LLC (THE INVESTMENT MANAGER OF THE FUND - A WHOLLY OWNED SUBSIDIARY OF W&M FOUNDATION), WHICH CONSIDERED A SURVEY OF COMPENSATION OF INDIVIDUALS IN SIMILAR POSITIONS AT SIMILAR ORGANIZATIONS.
- Schedule J, Part II COMPENSATION FROM UNRELATED ORGANIZATION
- THE INDIVIDUALS LISTED IN PART II ARE COMPENSATED BY WILLIAM & MARY, THE COMMON PAYMASTER FOR EMPLOYEES OF WILLIAM & MARY FOUNDATION. THE FOUNDATION AND THE UNIVERSITY ARE NOT RELATED ENTITIES. 1693 MANAGEMENT COMPANY LLC (THE INVESTMENT MANAGER OF THE FUND - A WHOLLY OWNED SUBSIDIARY OF W&M FOUNDATION), REIMBURSES THE UNIVERSITY FOR ALL COMPENSATION COSTS OF THE ORGANIZATION, WHICH ARE PAID BY 1693 PARTNERS FUND FOR ALL OR A PORTION OF THE COMPENSATION FOR THESE INDIVIDUALS BASED ON THE INVESTMENT MANAGEMENT AGREEMENT BETWEEN 1693 PARTNERS FUND AND 1693 MANAGEMENT COMPANY.
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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(c)(3) · ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY · VA
-
MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION
501(c)(3) · ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY · VA
-
WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
501(c)(3) · ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY · VA
-
MURRAY 1693 SCHOLARS FOUNDATION
501(c)(3) · ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY · VA
Directly controlled by WILLIAM & MARY FOUNDATION
-
THE COLLEGE OF WILLIAM AND MARY REAL ESTATE FOUNDATION
501(c)(2) · HOLD TITLE TO REAL ESTATE PROPERTY AND COLLECT INCOME THEREFROM · VA
Directly controlled by WILLIAM & MARY FOUNDATION
-
501(c)(1) · A PUBLIC UNIVERSITY EXEMPT UNDER SECTION 170(C)(1) · VA
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.
-
C Corporation · HOLD MEMBERSHIP INTEREST IN NEW TOWN ASSOCIATES LLC · VA
Directly controlled by WILLIAM & MARY FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501359349308890
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