1693 Partners Fund

Nonprofit profile at a glance

EIN
843505125
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-T 2024
Location
Williamsburg, VA, USA
Phone
7572211906
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$156,427,454
Expenses
$61,188,386
Assets
$1,215,423,011
Liabilities
$151,110

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Highest reported compensation

  • F BRIAN HIESTAND (CHIEF INVESTMENT OFFICER): $734,772 total reported compensation
  • CATHERINE MOUNTJOY (CHIEF OPERATING OFFICER): $477,448 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The 1693 Partners Fund is dedicated to stewarding and growing endowment assets in support of William & Mary and its affiliated organizations.

What it reported doing in 2024

The 1693 Partners Fund is dedicated to stewarding and growing endowment assets in support of William & Mary and its affiliated organizations. With a long-term focus, the Fund seeks to generate strong, risk-adjusted returns while preserving equity and advancing the university's mission. The Fund employs a disciplined, diversified investment approach to enhance returns, manage risk, and provide reliable funding for scholarships, faculty support, research, and other institutional priorities. Operating within a robust governance framework, the 1693 Partners Fund emphasizes transparency, accountability, and rigorous investment oversight.

Operating model

Revenue model
Other-operating. 77% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 41
  • Accountability: 95
  • Sustainability: 96
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 60.9%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 19.86; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 98; 98th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 32.7% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 30.3% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 22% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 100% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $61.2M in reported program spending
  • Leadership: top reported pay $735K · 17 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4M reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.