Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $63,211

• 1f · All other contributions, gifts and grants

  $98,109,040

• 1g · Noncash contributions included above

  $4,651,244

• 2a · Program service revenue: DIRECT-FINANCING LEASE

  total $3,957,474 · related or exempt $3,957,474

• 2b · Program service revenue: RENT FROM GMU

  total $589,079 · related or exempt $589,079

• 2c · Program service revenue: RENT FROM GMUIF

  total $24,000 · related or exempt $24,000

• 3 · Investment income

  total $4,847,728 · excluded $4,847,728

• 7a · Gross sales of assets other than inventory

  securities $119,449,369 · other assets $5,770,000

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

  securities $114,987,606 · other assets $2,524,187

• 7c · Gain or loss

  securities $4,461,763 · other assets $3,245,813

• 7d · Net gain or loss

  total $7,707,576 · unrelated business -$322,996 · excluded $8,030,572

• 8a · Fundraising events: gross income

  $29,833

• 8a · Fundraising events: contributions included on line 1c

  $63,211

• 8b · Fundraising events: direct expenses

  $47,985

• 8c · Net income from fundraising events

  total -$18,152 · excluded -$18,152

• 11a · Other revenue: TRUST AND OTHER INCOME

  total $1,077,010 · related or exempt $1,077,010

• 11e · Other revenue, total

  $1,077,010

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $61,618,314 · program services $61,618,314

• 2 · Grants to domestic individuals

  total $824,210 · program services $824,210

• 3 · Grants to foreign organizations and individuals

  total $19,000 · program services $19,000

• 5 · Compensation of officers, directors and key employees

  total $535,274 · management and general $535,274

• 7 · Other salaries and wages

  total $1,188,503 · management and general $1,188,503

• 8 · Pension plan contributions

  total $339,778 · management and general $339,778

• 9 · Other employee benefits

  total $346,021 · management and general $346,021

• 10 · Payroll taxes

  total $216,682 · management and general $216,682

• 11b · Fees: legal

  total $323,525 · program services $52,028 · management and general $158,978 · fundraising $112,519

• 11c · Fees: accounting

  total $224,064 · management and general $224,064

• 11d · Fees: lobbying

  total $595 · management and general $595

• 11f · Fees: investment management

  total $1,497,238 · program services $1,352 · management and general $1,495,886

• 11g · Fees: other

  total $3,110,752 · program services $3,011,345 · management and general $49,238 · fundraising $50,169

• 12 · Advertising and promotion

  total $291,201 · program services $284,725 · fundraising $6,476

• 13 · Office expenses

  total $1,367,644 · program services $1,255,342 · management and general $66,793 · fundraising $45,509

• 14 · Information technology

  total $997,014 · program services $641,307 · management and general $126,975 · fundraising $228,732

• 16 · Occupancy

  total $295,598 · program services $295,598

• 17 · Travel

  total $3,414,793 · program services $3,351,653 · management and general $15,750 · fundraising $47,390

• 19 · Conferences, conventions and meetings

  total $3,916,266 · program services $3,766,777 · management and general $17,849 · fundraising $131,640

• 20 · Interest

  total $2,492,040 · program services $2,492,040

• 22 · Depreciation, depletion and amortization

  total $221,540 · program services $220,368 · management and general $1,172

• 23 · Insurance

  total $41,142 · management and general $41,142

• 24a · Other expenses: ACADEMIC SUPPORT

  total $3,575,980 · program services $3,574,491 · management and general $1,170 · fundraising $319

• 24b · Other expenses: ADMINISTRATIVE SUPPORT

  total $2,270,028 · program services $2,078,124 · management and general $162,323 · fundraising $29,581

• 24c · Other expenses: STAFF TRAINING AND DEV.

  total $440,312 · program services $401,916 · management and general $25,264 · fundraising $13,132

• 24d · Other expenses: MEALS AND ENTERTAINMENT

  total $362,607 · program services $329,942 · management and general $4,453 · fundraising $28,212

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $37,239 · end of year $271,255

• 2 · Savings and temporary cash investments

  beginning of year $20,738,767 · end of year $19,809,084

• 3 · Pledges and grants receivable

  beginning of year $31,615,548 · end of year $46,015,196

• 4 · Accounts receivable

  beginning of year $65,491 · end of year $7,000

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

  $16,626,299

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

  $5,634,545

• 10c · Land, buildings and equipment, net

  beginning of year $11,081,741 · end of year $10,991,754

• 11 · Investments: publicly traded securities

  beginning of year $132,593,350 · end of year $124,490,467

• 12 · Investments: other securities

  beginning of year $193,232,883 · end of year $246,045,232

• 15 · Other assets

  beginning of year $109,375,906 · end of year $106,638,273

• 17 · Accounts payable and accrued expenses

  beginning of year $4,409,141 · end of year $4,664,890

• 19 · Deferred revenue

  beginning of year $435,124 · end of year $542,004

• 20 · Tax-exempt bond liabilities

  beginning of year $28,854,369 · end of year $25,414,372

• 21 · Escrow or custodial account liability

  beginning of year $12,878,414 · end of year $14,596,802

• 23 · Secured mortgages and notes payable

  beginning of year $44,414,213 · end of year $40,401,407

• 25 · Other liabilities

  beginning of year $174 · end of year $210

• 27 · Net assets without donor restrictions

  beginning of year $41,991,078 · end of year $49,211,061

• 28 · Net assets with donor restrictions

  beginning of year $365,758,412 · end of year $419,437,515

The filer's explanations (Part III)

PART I, LINE 1A

THE FOUNDATION PROVIDES CERTAIN SOCIAL CLUB MEMBERSHIPS FOR FUNDRAISING, DONOR CULTIVATION, OR OTHER BUSINESS PURPOSES. THE PERSONAL PORTION OF THE MEMBERSHIPS IS INCLUDED IN THE INDIVIDUALS' TAXABLE COMPENSATION.

PART I, LINE 3

THE COMPENSATION OF THE PRESIDENT OF THE FOUNDATION WAS REVIEWED AND APPROVED BY A COMMITTEE PER THE POLICIES OF THE DEPARTMENT OF HUMAN RESOURCES OF GEORGE MASON UNIVERSITY. THE COMPENSATION OF THE PRESIDENT OF THE FOUNDATION LISTED IN PART VII REFLECTS THE PORTION FUNDED BY THE FOUNDATION. INDIVIDUALS ON THE COMMITTEE INCLUDE THE UNIVERSITY PRESIDENT, EXECUTIVE VICE PRESIDENT OF FINANCE AND ADMINISTRATION, CHIEF OF STAFF, AND VICE PRESIDENT OF HUMAN RESOURCES AND PAYROLL. SALARY INFORMATION INCLUDING THE PREVIOUS INCUMBENT'S COMPENSATION, COMPENSATION OF THE SAME POSITION AT THE OTHER VIRGINIA DOCTORAL INSTITUTIONS, AS WELL AS SALARY SURVEY DATA OF GEORGE MASON UNIVERSITY'S PEER INSTITUTIONS AND COMPARABLE DC AREA UNIVERSITIES WAS REVIEWED TO DETERMINE REASONABLENESS OF SALARY. OTHER KEY EMPLOYEES' COMPENSATION IS REVIEWED AND APPROVED BY THE UNIVERSITY'S OFFICE OF ACCESS, COMPLIANCE, AND COMMUNITY AND HUMAN RESOURCES COMPENSATION TEAM TO DETERMINE EQUITY THROUGHOUT THE UNIVERSITY, OTHER STATE AGENCIES, AND THE MARKETPLACE.

Disregarded entities

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

• GMUF MASON ADMINISTRATION LLC

  REAL ESTATE · VA · income $1,122,897 · assets $22,059,537

  Directly controlled by GMUF

• GMUF PRINCE WILLIAM HOUSING LLC

  REAL ESTATE · VA · income $768,551 · assets $14,154,079

  Directly controlled by GMUF

• GMUF PRINCE WILLIAM LIFE SCIENCES LAB

  REAL ESTATE · VA · income $1,730,130 · assets $27,488,696

  Directly controlled by GMUF

• GMUF COMMERCE BUILDINGS LLC

  REAL ESTATE · VA · income $183,317 · assets $0

  Directly controlled by GMUF

• GMUF POTOMAC HEIGHTS LLC

  REAL ESTATE · VA · income $546,879 · assets $6,101,492

  Directly controlled by GMUF

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (5)

  ANNUITY TRUST · VA · controlled entity

  Directly controlled by GMUF