The George Washington Foundation

Nonprofit profile at a glance

EIN
540525507
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Fredericksburg, VA, USA
Phone
5403733381
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$3,350,353
Expenses
$2,805,232
Assets
$37,300,506
Liabilities
$429,878

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

Leadership & pay

25 people listed

Executive titles in this filing

  • WILLIAM E GARNER (PRESIDENT)

Highest reported compensation

  • WILLIAM E GARNER (PRESIDENT): $212,695 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 mission of the george Washington foundation is to enhance the public understanding of the lives, values, and legacies of george Washington, fielding and betty Washington lewis and their family members, particularly in the broader context of the culture of the fredericksburg, Virginia area.

What it reported doing in 2024

The curatorial department documents, researches, conserves and interprets the foundation's collections of 18th and 19th century objects and manuscripts, the most important of which is kenmore, the georgian house built by betty and fielding lewis in the 18th century. As such, the curatorial department is also responsible for any preservation-based maintenance, repair or restoration necessary at kenmore, including the monitoring of the interior environmental control systems. These responsibilities are carried out in consultation with the properties department.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.5%; rating input score 92
  • Program expense ratio: 69.6%; rating input score 70
  • Fundraising efficiency: $4.86 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.3%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 13.3; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 7.6%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: -4.5% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 91.5% of revenue deployed · 69.6% of spending went to programs
  • Governance: 22 of 22 board members independent · 8 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $213K · 25 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Fundraising efficiency scored 16/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.