2024-08-01T10:07:10-07:00 2023-09-30 660500092 Benham & Hodge PC 1352 Est Taarneberg St Thomas VI 00802 990 2022-10-01 660425865 THE FOUNDATION FOR THE UNIVERSITY OF THE VIRGIN ISLANDS INC FOUN 3406931000 2 JOHN BREWERS BAY ST THOMAS VI 00802 UNA C DYER Executive Dir. 2024-07-30 true true Janice V Hodge CPA P00632604 3407761852 2022 2024-08-08 14:25:15Z UNA C DYER 2 JOHN BREWERS BAY ST THOMAS VI 008029990 6003248 false X N/A X 1986 VI EDUCATIONAL AND CHARITABLE PURPOSES 10 8 0 23503 22503 2858680 2890633 0 436672 670728 -219 -194 3295133 3561167 2811510 4552712 0 0 0 0 58558 75471 2870068 4628183 425065 -1067016 53390419 54434719 22842485 23156969 30547934 31277750 EDUCATIONAL AND CHARITABLE PURPOSES false false 4552712 4552712 THE ORGANIZATION ASSISTS AND SUPPORTS THE UNIVERSITY OF THE VIRGIN ISLANDS IN ACCOMPLISHING ITS CHARITABLE AND EDUCATIONAL MISSION. 4552712 true true false false false false false false true true true false false false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false true 0 0 false 0 true true false false false false false false 0 false false false false false false false X 10 8 false false false false false false false true true false false true false false true false false false VI X UNA C DYER 3406931000 2 JOHN BREWERS BAY ST THOMAS VI 00802 X KERRY SAIN Director 1.00 0.00 X 0 0 0 ADRIANE DUDLEY Vice Chair 1.00 0.00 X X 0 0 0 JAMES TUNICK Chair 1.00 0.00 X X 0 0 0 HENRY SMOCK Director 1.00 0.00 X 0 0 0 DR DAVID HALL Director 1.00 0.00 X 0 0 0 UNA C DYER Executive Dir. 1.00 0.00 X 0 0 0 BRADLEY EBERSOLE Director 1.00 0.00 X 0 0 0 SHARMANE BROOKES Treasurer 1.00 0.00 X X 0 0 0 GEORGE ROSENBERG Director 1.00 0.00 X 0 0 0 JOHN HARPER Director 1.00 0.00 X 0 0 0 0 false false false 0 2890633 2890633 0 -39237 -13965 -25272 13156 13156 0 -194 -194 -194 -194 2864409 274481 2442081 422328 274481 696809 422328 48969 225512 0 0 0 0 3561167 421519 23503 225512 4550262 4550262 2450 2450 0 0 0 0 0 0 0 0 0 0 34323 34323 0 0 0 0 0 0 0 0 0 8835 8835 0 2750 2750 198 198 0 0 8856 8856 MISCELLANEOUS 17356 17356 Bank Fees 3141 3141 Penalties 12 12 0 4628183 4552712 75471 0 143 143 2962483 1544368 0 0 0 0 0 0 3356 10912 113000 113000 113000 50311437 52766296 0 0 0 0 53390419 54434719 2960 22839129 23143096 3356 10913 22842485 23156969 X 12808117 11008838 17739817 20268912 30547934 31277750 53390419 54434719 X -1067016 1815300 -18468 X true X true X true false X 1389569 1613704 1856336 2858680 2890633 10608922 0 0 1389569 1613704 1856336 2858680 2890633 10608922 3538535 7070387 467408 43900 71155 -4662 -49778 528023 22543 15537 48235 23503 109818 0 11246763 0.62870 0.51200 X Part I: Additional Information THE FOUNDATION FOR THE UNIVERSITY OF THE VIRGIN ISLANDS, INC (" THE FOUNDATION") EXISTS TO SUPPORT THE UNIVERSITY OF THE VIRGIN ISLANDS, A PUBLIC UNIVERSITY. THE FOUNDATION RECEIVED TAX EXEMPT STATUS AS A PUBLIC CHARITY, NOT A FOUNDATION, FROM THE VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE ON JULY 22, 1986. THE PURPOSE OF THE FOUNDATION REMAIN SUBSTANTIABLY THE SAME AS IT DID WHEN THE EXEMPTION WAS GRANTED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 17739812 2890633 1928672 2356839 237 -66871 20268912 19659302 2835540 -3919289 835464 277 17739812 15531020 1852226 2964800 625818 308 62618 19659302 13885796 1607984 1122242 1035444 294 49264 15531020 12156198 1387841 566206 181835 1786 40828 13885796 false false false 113000 113000 113000 10913 10913 Part IV, Line 2b: Explanation of escrow account liability THE FOUNDATION HAS A CUSTODIAL RELATIONSHIP WITH THE UNIVERSITY OF THE VIRGIN ISLANDS FOR VARIOUS ENDOWMENTS WHICH ARE GIVEN TO THE UNIVERSITY. THE FOUNDATION INVESTS THE ENDOWMENTS IN ACCORDANCE WITH ITS INVESTING POLICIES AND MANAGES THE ENDOWMENTS ON BEHALF OF THE UNIVERSITY. true UNIVERSITY OF THE VI 2 JOHN BREWERS BAY ST THOMAS VI 00802 660432514 4550262 0 EDUCATIONAL PURPOSES 1 0 Grantmaker's Description of How Grants are Used The Foundation for the University of the Virgin Islands works closely with the University to ensure that scholarships are distributed according to gift agreements. Disbursements to scholarship recipients are done in collaboration with the Scholarship Committees guidelines, specifications of gift and other agreements, as indicated by respective donors. Other request for funds from the Foundation also follow a vetting process to ensure that funds are aligned with their intended purposes. Funds are approved and released only after internal due diligence processes are followed. In addition, the Foundations external auditors review the financial statements of the Foundation annually to ensure that all receipts and disbursements are consistent with their intended purpose. Form 990, Part VI, Section B, Line 11b THE TAX RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE ADMINISTRATIVE SPECIALIST BEFORE FILING WITH COPIES ALSO PROVIDED TO THE BOARD OF DIRECTORS. Form 990, Part VI, Section C, Line 19 POSTED ELECTRONICALLY AS PART OF THE ANNUAL AUDIT AND ALSO AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 INCOME TAX = -$18468 Statement Note 1 STATEMENT 3FORM 990-T, PART V, LINE 48OTHER TAXESVI 10% SURCHARGE........................ $473