The College Foundation of the University of Virginia

Nonprofit profile at a glance

EIN
542009312
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Charlottesville, VA, USA
Phone
4342438960
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$46,909,365
Expenses
$20,425,397
Assets
$318,732,750
Liabilities
$4,933,324

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

Leadership & pay

59 people listed

Executive titles in this filing

  • MARK LUELLEN (PRESIDENT'S APPOINTEE)
  • KELLY GEARY (PRESIDENT OF THE BENEFACTORS SOCIETY BOARD)
  • EUGENE R SCHUTT JR (FOUNDATION PRESIDENT)
  • KELLI MARTIN (ASSOCIATE VICE PRESIDENT O)
  • ALEX FRITZ (ASSOCIATE VICE PRESIDENT F)
  • ANGELA ROSS (ASSOCIATE VICE PRESIDENT O)

Highest reported compensation

  • EUGENE R SCHUTT JR (FOUNDATION PRESIDENT): $444,359 total reported compensation
  • CECILE B HARPER (CHIEF OPERATING OFFICER): $348,758 total reported compensation
  • MICHAEL CLARKE (SENIOR DIRECTOR OF DEVELOP): $292,956 total reported compensation

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

Overview

Mission

To further the purposes and aspirations of the college and graduate school of arts & sciences at the university of Virginia, by advising and supporting the dean, raising funds and promoting excellence and jeffersonian distinction.

What it reported doing in 2024

Departmental support - funding to support courses, academic innovation, and instructional needs of the school's academic departments and interdisciplinary programs. This support also includes funding for the unrestricted use by the dean of the college and graduate school of arts & sciences. Gifts to the annual fund allow the dean to address the most pressing needs and promising opportunities related to the 11,095 undergraduates and 1,271 graduate students in the arts and sciences.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.4%; rating input score 27
  • Program expense ratio: 61.3%; rating input score 61
  • Fundraising efficiency: $7.92 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 56.5%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 15.6; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 27.4% of revenue deployed · 61.3% of spending went to programs
  • Governance: 51 of 51 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $12.5M in reported program spending
  • Leadership: top reported pay $444K · 59 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $816K reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 27/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 19/100.