WILLIAM AND MARY INTELLECTUAL PROPERTY FOUNDATION

EIN: 261769925 501(c)(3) Education

Williamsburg, VA

Total Revenue
$308,053
Total Expenses
$217,835
Total Assets
$303,124
Net Assets
$303,124
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
VA
Principal Officer
Jason McDevitt
Phone
7572211751
Tax Period
2018-07-01 to 2019-06-30

WILLIAM AND MARY INTELLECTUAL PROPERTY FOUNDATION, founded in 2008, is a small nonprofit in the Education sector that reported $308K in total revenue in fiscal year 2018. The organization ran a surplus of $90K, a strong 29% operating margin.

Mission

The organization's primary exempt purpose is educational and scientific. The W&M Intellectual Property Foundation engages in matters pertaining to intellectual property for the benefit of the College of William and Mary. The College, and all its employees and stakeholders, can benefit from the services provided. For example, this year, over $164,000 was returned to the College (including its affiliate the Virginia Institute of Marine Science) in support of research, and ultimately all of the money currently retained in the Foundation will be used to support research at the College, indirectly or directly, with the exception of administrative costs.

Program Service Accomplishments

Program 1
Expenses: $217,798 Revenue: $307,309

The William and Mary Intellectual Property Foundation engages in matters pertaining to intellectual property for the benefit of the College of William and Mary. The College, and all its employees and...

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The William and Mary Intellectual Property Foundation engages in matters pertaining to intellectual property for the benefit of the College of William and Mary. The College, and all its employees and stakeholders, can benefit from the services provided. For example, this year, over $164,000 was returned to W&M (and its affiliates) in support of research, and ultimately all of the money currently retained in the IP Foundation will be used to support research at the W&M, either directly or indirectly.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $307,309
Investment Income $744
Other Revenue $0
TOTAL REVENUE $308,053

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $217,798
Other Expenses $217,835
TOTAL EXPENSES $217,835

Year-over-Year Comparison

2018 2017 Change
Revenue $308,053 $316,776 0.0%
Expenses $217,835 $338,939 -0.4%
Net Income $90,218 $-22,163 -5.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
1
Independent Members
1
Employees
N/A
Volunteers
4

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
2
$485,288
Total Directors
1
$555,606
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dennis Manos Chairman of the Board 0.1
Director
$0 $277,803 $555,606
Jason McDevitt President 4
Officer
$0 $137,403 $274,806
Julie Summs Treasurer 0.01
Officer
$0 $105,241 $210,482
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
2019 $308,053 $217,835 $303,124 $90,218
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