UNIVERSITY OF MARY WASHINGTON FOUNDATION

EIN: 540169627 501(c)(3) Education

FREDERICKSBURG, VA

Total Revenue
$21,673,643
Total Expenses
$7,329,657
Total Assets
$144,708,038
Net Assets
$139,504,107
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
VA
Principal Officer
CATHERINE TURCOTTE
Phone
5406542053
Tax Period
2024-07-01 to 2025-06-30

UNIVERSITY OF MARY WASHINGTON FOUNDATION, founded in 1975, is a mid-sized nonprofit in the Education sector that reported $16.5M in total revenue in fiscal year 2017. Expenses of $19.1M exceeded revenue, resulting in a 16% operating deficit.

Mission

TO RECEIVE, HOLD, AND ADMINISTER FUNDS AND PROPERTY OF ALL KINDS, FOR THE FURTHERANCE OF THE OBJECTIVES OF THE UNIVERSITY OF MARY WASHINGTON.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $12,577,981
Program Service Revenue $346,311
Investment Income $8,450,919
Other Revenue $298,432
TOTAL REVENUE $21,673,643

Expense Breakdown

Grants Paid $4,878,466
Salaries & Benefits $931,316
Fundraising Expenses $308,434
Program Expenses $5,772,146
Other Expenses $1,519,875
TOTAL EXPENSES $7,329,657

Year-over-Year Comparison

2024 2023 Change
Revenue $21,673,643 $28,903,550 -0.3%
Expenses $7,329,657 $8,584,087 -0.1%
Net Income $14,343,986 $20,319,463 -0.3%
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
N/A
Volunteers
23

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
6
$11,796
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT BARRY ESQ IMMEDIATE PAST CHAIR 0.10
Officer Director
$0 $0 $0
PATRICIA KEMP DIRECTOR 0.10
Director
$0 $0 $0
ANNE STEEN CHAIR 0.30
Officer Director
$0 $0 $0
JACOB LONG TREASURER 0.30
Officer Director
$0 $0 $0
LOUIS MARMO DIRECTOR 0.10
Director
$0 $0 $0
ABAS ADENAN DIRECTOR 0.10
Director
$0 $0 $0
DANIEL CLENDENIN DIRECTOR 0.10
Director
$0 $0 $0
JOHN BOWMAN DIRECTOR 0.10
Director
$0 $0 $0
MIKHAEL CHARNOFF DIRECTOR 0.10
Director
$0 $0 $0
JANEL DONOHUE DIRECTOR 0.10
Director
$0 $0 $0
JAMES LLEWELLYN DIRECTOR 0.10
Director
$0 $0 $0
XAVIER RICHARDSON DIRECTOR 0.10
Director
$0 $0 $0
KERWIN MILLER DIRECTOR 0.10
Director
$0 $0 $0
LESLIE TILGHMAN DIRECTOR 0.10
Director
$0 $0 $0
JUSTIN GERBEREUX DIRECTOR 0.10
Director
$0 $0 $0
DONNA GLADIS DIRECTOR 0.10
Director
$0 $0 $0
MICHAEL JOHNSON DIRECTOR 0.10
Director
$0 $0 $0
VICKY WILDER SECRETARY 0.30
Officer Director
$0 $0 $0
SARAH STRASSHEIM VICE-CHAIR 0.30
Officer Director
$0 $0 $0
WILLIAM MURRAY DIRECTOR 0.10
Director
$0 $0 $0
TROY PAINO DIRECTOR 0.10
Director
$0 $0 $0
KOURTNEY WHITEHEAD DIRECTOR 0.10
Director
$0 $0 $0
ROBERT WHITT DIRECTOR 0.10
Director
$0 $0 $0
CATHERINE TURCOTTE EXECUTIVE DIRECTOR 30.00
Officer
$11,796 $0 $11,796
SHANNON WILLIAMS CONTROLLER 50.00
Highest
$121,427 $0 $121,427
JEFFREY ROUNTREE FORMER CEO 50.00
$348,762 $0 $348,762
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 $21,673,643 $7,329,657 $144,708,038 $14,343,986
2024 No data No data No data No data
2023 $42,619,007 $7,188,239 $135,496,119 $35,430,768
2022 $10,995,561 $7,573,385 $108,466,422 $3,422,176
2021 $47,541,400 $14,104,024 $131,725,158 $33,437,376
2020 $19,915,035 $18,816,226 $186,636,934 $1,098,809
2019 $18,860,609 $19,947,672 $184,451,224 $-1,087,063
2018 $16,494,157 $19,059,355 $173,793,947 $-2,565,198
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