Colonial Williamsburg Foundation

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1928

Legal Domicile

Principal Officer

Jacquelyn Ferree

Phone

7572291000

Tax Period

2023-01-01 to 2023-12-31

Colonial Williamsburg Foundation, founded in 1928, is a major nonprofit in the Arts, Culture & Humanities sector that reported $125.8M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $121.5M left a modest 3% surplus.

Mission

Collections primarily consist of 18th century decorative arts and 19th century folk art, acquired through purchases and contributions since the Foundation's inception. Through the leadership of its Board of Trustees and staff, the Foundation strives to preserve, protect, and maintain the collection in perpetuity.

Program Service Accomplishments

Program 1

Expenses: $54,441,002 Revenue: $19,337,208

Education, Research and Historical Interpretation-The Historic Area is a 301-acre outdoor history museum with over 600 original and reconstructed houses, outbuildings, shops, taverns, and public...

Education, Research and Historical Interpretation-The Historic Area is a 301-acre outdoor history museum with over 600 original and reconstructed houses, outbuildings, shops, taverns, and public buildings. Interpretation by costumed employees engage visitors in dialogue with historical residents of Colonial Williamsburg and at trade sites. Tours are offered through the houses, taverns and public buildings. Specialized tours are available that focus on African-Americans, the role of women in the 18th-century, and the origins of the U.S. Constitution.

Program 2

Expenses: $16,313,151 Revenue: $484,893

Museums, Preservation and Historic Resources-Colonial Williamsburg's wide-ranging collections, acquired over the past 90 years, provide the art, objects, artifacts, and buildings necessary to...

Museums, Preservation and Historic Resources-Colonial Williamsburg's wide-ranging collections, acquired over the past 90 years, provide the art, objects, artifacts, and buildings necessary to accurately recreate the environment of 18th-century Williamsburg. The archaeological and architectural collection include 500,000 whole archaeological artifacts from excavations in and around Williamsburg as well as 60 million fragments (probably the largest single archaeological holding relating to 18th-century America), and some 19,000 architectural fragments.

Program 3

Expenses: $15,600,693 Revenue: $12,892,716

Taverns and Colonial Houses-Ideal for guests who wish to fully immerse themselves in the 18th-century, Colonial Williamsburg offers authentic period accomodations in the Historic Area where our...

Taverns and Colonial Houses-Ideal for guests who wish to fully immerse themselves in the 18th-century, Colonial Williamsburg offers authentic period accomodations in the Historic Area where our founding families once lodged. Servers in taverns are in period dress and interpret the 18th-century dining experiences.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $64,053,910

Program Service Revenue $32,714,817

Investment Income $30,216,613

Other Revenue $-1,135,509

TOTAL REVENUE $125,849,831

Expense Breakdown

Grants Paid $0

Salaries & Benefits $56,990,200

Fundraising Expenses $9,500,095

Program Expenses $86,354,846

Other Expenses $64,522,720

TOTAL EXPENSES $121,512,920

Year-over-Year Comparison

	2023	2022	Change
Revenue	$125,849,831	$115,308,235	+0.1%
Expenses	$121,512,920	$114,045,211	+0.1%
Net Income	$4,336,911	$1,263,024	+2.4%

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

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1235

Volunteers

650

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

$3,400,101

Total Directors

$685,727

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Clifford Fleet III	President & CEO	65.00	Officer Director	$577,780	$107,947	$685,727
Kevin Patrick	CFO & Treasurer	50.00	Officer	$521,140	$129,594	$650,734
Ronald Hurst	CMO	50.00	Officer	$392,341	$134,331	$526,672
Elizabeth Kelly	Vice President	50.00		$326,141	$147,104	$473,245
Hazel Wong	CLC & Secretary	50.00	Officer	$402,208	$47,738	$449,946
Robert Underwood	Vice President	50.00		$315,370	$124,295	$439,665
Earl Granger III	CDO	50.00	Officer	$431,574	$2,635	$434,209
Samuel Rucker	Vice President	50.00		$297,612	$97,690	$395,302
Clifford Mustaafa Dozier	CHRO	50.00	Officer	$325,766	$61,945	$387,711
Henry Lai	Vice President	50.00		$292,741	$60,103	$352,844
Mia Nagawiecki	Vice President	50.00		$271,911	$33,455	$305,366
Shaun Coleman	Vice President	50.00		$276,428	$13,608	$290,036
Sani Silvennoinen	CDO	50.00	Officer	$229,068	$36,034	$265,102
Mark Hileman	General Counsel	0.00		$36,000	$0	$36,000
Carly Fiorina	Chair	4.00	Director	$0	$0	$0
Kendrick F Ashton Jr	Trustee	2.00	Director	$0	$0	$0
Frank Batten Jr	Trustee	2.00	Director	$0	$0	$0
Geoff Bennett	Trustee	2.00	Director	$0	$0	$0
Catharine O'Neill Broderick	Trustee	2.00	Director	$0	$0	$0
Mark A Coblitz	Trustee	2.00	Director	$0	$0	$0
Walter Edgar	Trustee	2.00	Director	$0	$0	$0
Neil M Gorsuch	Trustee	2.00	Director	$0	$0	$0
Conrad M Hall	Trustee	2.00	Director	$0	$0	$0
Antonia Hernandez	Trustee	2.00	Director	$0	$0	$0
John A Luke Jr	Trustee	2.00	Director	$0	$0	$0
Walfrido J Martinez	Trustee	2.00	Director	$0	$0	$0
Leslie A Miller	Trustee	2.00	Director	$0	$0	$0
Steven L Miller	Trustee	2.00	Director	$0	$0	$0
Joseph W Montgomery	Trustee	2.00	Director	$0	$0	$0
Steve Netzley	Trustee	2.00	Director	$0	$0	$0
Walter S Robertson III	Trustee	2.00	Director	$0	$0	$0
Gerald L Shaheen	Trustee	2.00	Director	$0	$0	$0
Larry W Sonsini	Trustee	2.00	Director	$0	$0	$0
Sheldon M Stone	Trustee	2.00	Director	$0	$0	$0
YPing Sun	Trustee	2.00	Director	$0	$0	$0
John C Thomas	Trustee	2.00	Director	$0	$0	$0
Jeff Trammell	Trustee	2.00	Director	$0	$0	$0
Alex Wallace	Trustee	2.00	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
2024	No data	No data	No data	No data
2023	$125,849,831	$121,512,920	$1,668,091,937	$4,336,911
2022	$115,308,235	$114,045,211	$1,661,208,452	$1,263,024
2021	$164,089,192	$111,219,023	$1,685,638,784	$52,870,169
2020	$190,574,946	$103,260,160	$1,535,029,339	$87,314,786
2019	$199,369,731	$117,601,021	$1,522,475,398	$81,768,710
2018	$137,870,929	$114,198,704	$1,466,462,777	$23,672,225