William & Mary Foundation

EIN: 540734117 501(c)(3) Education

WILLIAMSBURG, VA

Total Revenue
$161,638,025
Total Expenses
$72,625,450
Total Assets
$1,294,159,126
Net Assets
$1,257,938,769
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Financial Trends

Organization Details

Formation Year
1939
Legal Domicile
VA
Phone
7572211906
Tax Period
2023-07-01 to 2024-06-30

The College of William & Mary Foundation, founded in 1939, is a mid-sized nonprofit in the Education sector that reported $83.4M in total revenue in fiscal year 2017. Revenue decreased 14% compared to the prior year. The organization ran a surplus of $52.1M, a strong 62% operating margin.

Mission

TO AID, STRENGTHEN AND EXPAND, IN EVERY PROPER AND USEFUL WAY, THE WORK OF WILLIAM & MARY, A PUBLIC UNIVERSITY IN VIRGINIA.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $131,082,801
Program Service Revenue $3,842,531
Investment Income $26,701,323
Other Revenue $11,370
TOTAL REVENUE $161,638,025

Expense Breakdown

Grants Paid $60,679,105
Salaries & Benefits $0
Fundraising Expenses $5,357,339
Program Expenses $65,189,110
Other Expenses $11,946,345
TOTAL EXPENSES $72,625,450

Year-over-Year Comparison

2023 2022 Change
Revenue $161,638,025 $41,051,162 +2.9%
Expenses $72,625,450 $52,596,974 +0.4%
Net Income $89,012,575 $-11,545,812 -8.7%
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
36
Independent Members
36
Employees
N/A
Volunteers
40

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
7
$588,453
Total Directors
41
$0
Key Employees
2
$815,396
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARPAN S KAPADIA TRUSTEE/VICE CHAIRPERSON FOR DEVELOPMENT STRATEGY 1.0
Officer Director
$0 $0 $0
ELIZABETH CABELL JENNINGS TRUSTEE/VICE CHAIRPERSON FOR INVESTMENTS 1.0
Officer Director
$0 $0 $0
JANET R ATWATER TRUSTEE/CHAIRPERSON OF THE BOARD 1.0
Officer Director
$0 $0 $0
TERI DALE DUNGAN TRUSTEE/SECRETARY 1.0
Officer Director
$0 $0 $0
A Clayton Perfall TRUSTEE (TERM BEGAN 10/23) 1.0
Director
$0 $0 $0
ANDREW W HORROCKS TRUSTEE 1.0
Director
$0 $0 $0
CHET M THAKER TRUSTEE 1.0
Director
$0 $0 $0
CHRISTINE MARIE VILLA TRUSTEE 1.0
Director
$0 $0 $0
CLIFFORD B FLEET III TRUSTEE 1.0
Director
$0 $0 $0
DAVID N KELLEY TRUSTEE 1.0
Director
$0 $0 $0
DAVID R COVIN TRUSTEE 1.0
Director
$0 $0 $0
DAWN M AARON TRUSTEE 1.0
Director
$0 $0 $0
DR STEPHEN S TANG TRUSTEE 1.0
Director
$0 $0 $0
EUGENE P FOLEY JR TRUSTEE 1.0
Director
$0 $0 $0
FRANCES C ENGORON TRUSTEE 1.0
Director
$0 $0 $0
HILARY GRANT DIXON TRUSTEE 1.0
Director
$0 $0 $0
HYLAH B BALLOWE TRUSTEE 1.0
Director
$0 $0 $0
J SCOTT PERKINS TRUSTEE 1.0
Director
$0 $0 $0
JAMES E MALLORY TRUSTEE 1.0
Director
$0 $0 $0
JANE CHURCH HORVATH TRUSTEE 1.0
Director
$0 $0 $0
JENNIFER T MACKESY TRUSTEE (TERM ENDED 10/23) 1.0
Director
$0 $0 $0
JILL MARIE LORD TRUSTEE 1.0
Director
$0 $0 $0
JODY W FORSYTH TRUSTEE 1.0
Director
$0 $0 $0
JOHN E SIMMONS TRUSTEE (TERM ENDED 10/23) 1.0
Director
$0 $0 $0
KARLA MUNDEN TRUSTEE 1.0
Director
$0 $0 $0
KATHERINE A ROWE TRUSTEE/ VOTING EX-OFFICIO 1.0
Director
$0 $0 $0
LOUIS GERARD DUDNEY TRUSTEE 1.0
Director
$0 $0 $0
MARK C BUSH TRUSTEE (TERM ENDED 10/23) 1.0
Director
$0 $0 $0
MASHEA M ASHTON TRUSTEE 1.0
Director
$0 $0 $0
MELISSA D FRIEDERY TRUSTEE (TERM ENDED 10/23) 1.0
Director
$0 $0 $0
MICHAEL C PETTERS TRUSTEE/VOTING EX-OFFICIO 1.0
Director
$0 $0 $0
MICHAEL C SAPNAR TRUSTEE 1.0
Director
$0 $0 $0
MICHAEL K POWELL TRUSTEE (TERM ENDED 10/23) 1.0
Director
$0 $0 $0
PAMELA JORDAN PENNY TRUSTEE 1.0
Director
$0 $0 $0
PENELOPE H MEREDITH TRUSTEE 1.0
Director
$0 $0 $0
RAELENE C WAGONER TRUSTEE 1.0
Director
$0 $0 $0
SHELLEY B GOODE TRUSTEE 1.0
Director
$0 $0 $0
Sue Hanna Gerdelman TRUSTEE (TERM BEGAN 10/23) 1.0
Director
$0 $0 $0
Timothy J Carroll TRUSTEE (TERM BEGAN 10/23) 1.0
Director
$0 $0 $0
TODD A STOTTLEMYER TRUSTEE 1.0
Director
$0 $0 $0
TODD ANDREW HOWARD TRUSTEE 1.0
Director
$0 $0 $0
BRUCE G AIRD CHIEF FINANCIAL OFFICER AND TREASURER 48.0
Officer
$129,582 $35,235 $164,817
JULIE S LEACH EXECUTIVE DIRECTOR 32.0
Officer
$96,681 $32,224 $128,905
MATTHEW T LAMBERT CHIEF EXECUTIVE OFFICER 30.0
Officer
$257,228 $37,503 $294,731
CATHERINE MOUNTJOY CHIEF OPERATING OFFICER, 1693 PARTNERS FUND 5.0
Key Emp
$315,856 $47,682 $363,538
F BRIAN HIESTAND CHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND 10.0
Key Emp
$384,314 $67,544 $451,858
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 No data No data No data No data
2024 $161,638,025 $72,625,450 $1,294,159,126 $89,012,575
2023 $41,051,162 $52,596,974 $1,134,029,696 $-11,545,812
2022 $100,704,101 $42,267,429 $1,102,294,415 $58,436,672
2021 $79,373,462 $39,031,296 $1,122,551,962 $40,342,166
2020 $88,636,871 $49,308,062 $868,886,184 $39,328,809
2019 $83,490,525 $41,566,200 $868,970,215 $41,924,325
2018 $83,416,784 $31,349,921 $806,248,130 $52,066,863
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