JAMES MADISON UNIVERSITY FOUNDATION INC

EIN: 237156305 501(c)(3) Education

Harrisonburg, VA

Total Revenue
$37,668,356
Total Expenses
$21,163,538
Total Assets
$271,465,754
Net Assets
$250,512,939
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
VA
Principal Officer
Cheryl L Lindsay
Phone
5405683187
Tax Period
2024-07-01 to 2025-06-30

James Madison University Foundation Inc, founded in 1969, is a mid-sized nonprofit in the Education sector that reported $22.5M in total revenue in fiscal year 2017. Revenue grew 17% year-over-year, indicating healthy expansion. The organization ran a surplus of $7.3M, a strong 32% operating margin.

Mission

The James Madison University Foundation provides prudent investment policy and stewardship to sustain and grow financial support for the University, while collaborating with the University to create innovative avenues of giving and to meet critical funding initiatives.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $26,564,127
Program Service Revenue $1,434,689
Investment Income $8,756,612
Other Revenue $912,928
TOTAL REVENUE $37,668,356

Expense Breakdown

Grants Paid $15,279,644
Salaries & Benefits $1,455,643
Fundraising Expenses $946,278
Program Expenses $18,023,602
Other Expenses $4,428,251
TOTAL EXPENSES $21,163,538

Year-over-Year Comparison

2024 2023 Change
Revenue $37,668,356 $48,716,381 -0.2%
Expenses $21,163,538 $21,309,809 0.0%
Net Income $16,504,818 $27,406,572 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
23
Independent Members
23
Employees
3
Volunteers
26

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$607,747
Total Directors
26
$607,747
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Warren K Coleman CEO 45
Officer Director
$252,761 $38,939 $291,700
Cheryl L Lindsay Vice President/Chief Financial Officer 40
Officer Director
$145,695 $35,483 $181,178
Tammy KC Balser Secretary, Senior Acctg Manager - Operations 39
Officer Director
$101,218 $33,651 $134,869
David S Kay Chair 1
Officer Director
$0 $0 $0
John Alouf Trustee 1
Director
$0 $0 $0
A Jerry Benson Trustee 1
Director
$0 $0 $0
Jarl Bliss Trustee 1
Director
$0 $0 $0
Darrel Branch Trustee 1
Director
$0 $0 $0
Linda W Cross Trustee 1
Director
$0 $0 $0
Joseph K Funkhouser II Trustee 1
Director
$0 $0 $0
Enrico Gaglioti Trustee 1
Director
$0 $0 $0
James E Hartman Trustee 1
Director
$0 $0 $0
Heather Hedrick Trustee 1
Director
$0 $0 $0
F Claiborne Johnston III Trustee 1
Director
$0 $0 $0
Nicholas L Langridge Trustee, Ex-Officio 1
Director
$0 $0 $0
Ellen W Meyer Trustee 1
Director
$0 $0 $0
Towana H Moore Trustee, Ex-Officio 1
Director
$0 $0 $0
Jon Offley Vice Chair 1
Officer Director
$0 $0 $0
Curtis Pulliam Trustee 1
Director
$0 $0 $0
J Barry Purcell III Trustee 1
Director
$0 $0 $0
Robin Reifsnider Trustee 1
Director
$0 $0 $0
James L Riley Trustee 1
Director
$0 $0 $0
Jennifer E Shirkey Trustee 1
Director
$0 $0 $0
Paul M Thompson Trustee 1
Director
$0 $0 $0
Michael S Walden Trustee 1
Director
$0 $0 $0
Owen Wilson Trustee 1
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $37,668,356 $21,163,538 $271,465,754 $16,504,818
2024 No data No data No data No data
2024 No data No data No data No data
2023 $21,589,923 $21,367,072 $214,401,774 $222,851
2022 $37,424,979 $13,507,617 $205,939,528 $23,917,362
2021 $23,646,493 $17,555,695 $232,657,669 $6,090,798
2020 $18,508,438 $15,831,670 $191,139,680 $2,676,768
2019 $23,523,250 $14,433,025 $175,868,373 $9,090,225
2018 $22,474,643 $15,189,964 $161,276,054 $7,284,679
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