2024-02-05T13:49:41-06:00 2023-06-30 540618213 HANTZMON WIEBEL LLP PO BOX 1408 CHARLOTTESVILLE VA 22902 990 2022-07-01 540485595 UNIVERSITY OF VIRGINIA ALUMNI ASSOCIATION UNIV 4342439000 PO BOX 400314 CHARLOTTESVILLE VA 22904 GARRETTE L ASHLEY TREASURER & CFO 4342439000 2024-02-05 1 GARRETTE ASHLEY 999009999 0 MONTE J GLANZER P01301538 4342962156 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GARRETTE L ASHLEY PO BOX 400314 CHARLOTTESVILLE VA 22904 61678422 0 X WWW.ALUMNI.VIRGINIA.EDU X 1838 VA TO BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY OF VIRGINIA WHILE REPRESENTING THE INDEPENDENT VOICE AND PERSPECTIVE OF ALUMNI. 43 43 117 2600 470075 0 48407249 47746213 6224477 6145225 649746 1694027 124695 194138 55406167 55779603 41891329 50466718 0 0 7165615 7165214 0 0 1399223 5962829 6331417 55019773 63963349 386394 -8183746 556619387 567603324 162414748 172265586 394204639 395337738 X THE MISSION OF THE ALUMNI ASSOCIATION IS TO BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY BY SERVING ALL ALUMNI AND STUDENTS; BEING THE CENTER FOR ENGAGING AND CONNECTING THE GLOBAL UVA COMMUNITY; ACTING AS A CONDUIT TO KEEP ALUMNI INFORMED AND PROVIDING VEHICLES TO SHARE THEIR VOICES; AND BEING AN INVALUABLE PARTNER TO THE UNIVERSITY. 0 0 51703220 50466718 1951066 THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, SERVES THE UVA COMMUNITY BY OFFERING FINANCIAL AND ENDOWMENT MANAGEMENT SERVICES. WITH MORE THAN 2,400 ACCOUNTS, THE UVA FUND PROVIDES EFFICIENT AND COST EFFECTIVE SUPPORT FOR OVER 700 STUDENT ORGANIZATIONS, ALUMNI CLUBS,ASSOCIATED ORGANIZATIONS, AND HUNDREDS OF ENDOWMENTS AND RESTRICTED ACCOUNTS FOR ORGANIZATIONS AND UNITS ACROSS UVA. THE ASSOCIATION ALSO MANAGES AND ADMINISTERS NUMEROUS STUDENT SCHOLARSHIPS, AND, THROUGH ITS JEFFERSON TRUST PROGRAM, PROVIDES ANNUAL GRANTS TO PROJECTS THAT ENHANCE THE UNIVERSITY AS A PREEMINENT GLOBAL INSTITUTION OF HIGHER LEARNING. 5593552 2875030 HOMECOMINGS & REUNIONS - THROUGH A SERIES OF IN-PERSON AND DIGITAL EVENTS HELD THROUGHOUT THE YEAR, THE ASSOCIATION WELCOMES THOUSANDS OF ALUMNI BACK TO UVA IN MEANINGFUL, SOCIAL, AND EDUCATIONAL WAYS THAT STRENGTHEN THE BOND BETWEEN ALUMNI AND THEIR ALMA MATER. ANNUAL REUNIONS WEEKENDS BRINGS ALUMNI BACK BASED ON CLASS YEAR, WHILE OTHER REUNIONS GEARED FOR SPECIFIC DEMOGRAPHIC AND/OR AFFINITY GROUPS PROVIDE UNIQUE OPPORTUNITIES TO RECONNECT WITH THE UNIVERSITY THROUGHOUT A LIFETIME. ADDITIONAL PROGRAMMING INCLUDES SOCIAL AND EDUCATIONAL EVENTS SURROUNDING FOOTBALL GAMES AND MORE THAN 150 STUDENT EVENTS DESIGNED TO BUILD COMMUNITY AND CLASS IDENTITY. 2009959 849054 ALUMNI COMMUNICATIONS - THE ASSOCIATION IS A VIBRANT CENTER OF COMMUNICATIONS FOR ALUMNI, PARENTS, STUDENTS AND FACULTY, USING A VARIETY OF MEDIA PLATFORMS. THE ASSOCIATION PROVIDES TIMELY AND ACCURATE COMMUNICATION CHANNELS TO ITS CONSTITUENTS, KEEPING THEM WELL INFORMED AND WELL CONNECTED TO THE UNIVERSITY AND TO ONE ANOTHER. THE ASSOCIATION PUBLISHES THE AWARD-WINNING UVA MAGAZINE, WHICH IS DISTRIBUTED TO ALL ALUMNI, STUDENTS, PARENTS, AND FRIENDS ON A QUARTERLY BASIS. THIS PUBLICATION IS SUPPLEMENTED BY WEBSITES, SOCIAL MEDIA, ELECTRONIC NEWSLETTERS AND VIDEOS. 59306731 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 655 0 1 117 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 43 43 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AR CA CO DC KS KY ME MD MA MI MN NH NJ NY NV NC ND OK OR PA RI SC TN UT VA WA WV WI X X THE ORGANIZATION 4342439000 PO BOX 400314 CHARLOTTESVILLE VA 22904 JAMES G ALDIGE IV MANAGER 1.00 X 0 0 0 WYATT G ANDREWS MANAGER 1.00 X 0 0 0 GREGORY W BROWN MANAGER 1.00 X 0 0 0 TERESA R DIMARCO MANAGER 1.00 X 0 0 0 PATRICIA K EPPS MANAGER 1.00 X 0 0 0 MATTHEW S ERSKINE MANAGER 1.00 X 0 0 0 BRETT J GALLAGHER MANAGER 1.00 X 0 0 0 BRETT C GIBSON MANAGER 1.00 X 0 0 0 STEPHEN P GIBSON MANAGER 1.00 X 0 0 0 TATIA D GRANGER MANAGER 1.00 X 0 0 0 MICHAEL C GUANZON MANAGER 1.00 X 0 0 0 RUTH F HAILE MANAGER 1.00 X 0 0 0 THOMAS B W HALL MANAGER 1.00 X 0 0 0 KURT B HARRISON MANAGER 1.00 X 0 0 0 R PHILIP HERGET III MANAGER 1.00 X 0 0 0 JESSICA P HUANG MANAGER 1.00 X 0 0 0 NICHOLAS T JORDAN MANAGER 1.00 X 0 0 0 WILLIAM L KITCHEL III MANAGER 1.00 X 0 0 0 ALICE A LLOYD MANAGER 1.00 X 0 0 0 THOMAS B MANGAS MANAGER 1.00 X 0 0 0 JAMALA K MASSENBURG MANAGER 1.00 X 0 0 0 CARMEN L MCGHEE MANAGER 1.00 X 0 0 0 KATHERINE A MOORE CHAIR 1.00 X X 0 0 0 BLAKE D MORANT MANAGER 1.00 X 0 0 0 MARC B MOYERS MANAGER 1.00 X 0 0 0 STEPHEN A MURRAY MANAGER 1.00 X 0 0 0 PAUL NOLDE MANAGER 1.00 X 0 0 0 MARIA T GUTIERREZ MANAGER 1.00 X 0 0 0 SHARON M OWLETT MANAGER 1.00 X 0 0 0 VISHAL M PATEL MANAGER 1.00 X 0 0 0 MARTHA S PELLINGTON MANAGER 1.00 X 0 0 0 R KENNON POTEAT III VICE-CHAIR 1.00 X X 0 0 0 FRANK J QUAYLE III MANAGER 1.00 X 0 0 0 CATHERINE L ROBB MANAGER 1.00 X 0 0 0 PAUL R SHIN MD MANAGER 1.00 X 0 0 0 LESLIE H WILLIAMS JR MANAGER 1.00 X 0 0 0 IAN B BAUCOM MANAGER 1.00 X 0 0 0 WHITTINGTON W CLEMENT MANAGER 1.00 X 0 0 0 ALEXANDRA J LAUZON MANAGER 1.00 X 0 0 0 SIMONE L POLLARD MANAGER 1.00 X 0 0 0 WILLIAM L POLK MANAGER 1.00 X 0 0 0 GARRETTE L ASHLEY TREASURER & CFO 40.00 X 137036 0 33551 LILY E WEST PRESIDENT AND CEO 40.00 X 272602 0 42840 TERRY LOCKARD SECRETARY & CHIEF OF STAFF 40.00 X 84521 0 27561 RICHARD GARD VP COMMUNICATIONS 40.00 X 187671 0 36579 SUSAN B KLOBUCHAR CMO 40.00 X 172115 0 37083 ELIZABETH K TURRISI CTO 40.00 X 154778 0 26540 BRENT J PERCIVAL ED JEFFERSON TRUST 40.00 X 159558 0 32030 ALEXANDER B NEWELL DIRECTOR ENTERPRISE IT 40.00 X 132868 0 35044 PATRICIA A DAVES MANAGING DIRECTOR, MEMBERSHIP & BUS DEVELOPMENT 40.00 X 122499 0 19663 JUDY LE DIRECTOR COMMUNICATIONS 40.00 X 125560 0 32228 SUSAN M GALLEGOS SENIOR DIRECTOR, DEVELOPMENT OPERATIONS 40.00 X 132323 0 21994 MARY E LUZAR SENIOR DIRECTOR, STUDENT ENGAGEMENT 40.00 X 109404 0 30543 1790935 0 375656 12 0 1 0 UVA INVESTMENT MANAGEMENT COMPANY 701 E WATER ST 4TH FL CHARLOTTESVILLE VA 22902 INVESTMENT MANAGEMENT FEES 1164132 MARTIN HORN INC 210 CARLTON ROAD CHARLOTTESVILLE VA 22902 RENOVATION 452413 HAHN GUSTAFSON CATERING INC 3552 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 CATERING SERVICES 443549 ARAMARK SERVICE MASTER 1101 MARKET ST PHILADELPHIA PA 19107 REPAIRS / MAINTENANCE 327116 LANE PRESS PO BOX 130 BURLINGTON VT 05402 PRINTING PUBLISHER 300975 9 327576 47418637 6104792 47746213 UVA CONTRACTUAL 900099 2515091 2515091 ADMIN FEES 900099 1951066 1951066 PROGRAM FEES 900099 900854 900854 ADVERTISING 513120 521605 51530 470075 COMMISSIONS 900099 248609 248609 8000 8000 6145225 1675663 1675663 26370 26370 167768 0 167768 167768 167768 5917183 5898819 18364 18364 18364 55779603 5675150 470075 1888165 45111122 45111122 5355596 5355596 1240518 506765 573994 159759 4329959 3368230 478633 483096 469730 342625 77846 49259 732836 556260 56427 120149 392171 276946 67578 47647 325344 67470 232965 24909 130073 45077 81122 3874 76653 76653 1188908 1188908 335173 165550 31980 137643 72935 58721 21 14193 288355 173088 18153 97114 296444 235416 32146 28882 210871 73494 107079 30298 53218 50347 1060 1811 284607 99334 145406 39867 208645 115466 78397 14782 ALUMNI AFFAIRS 1988853 1856862 7762 124229 PRINTING & PUBLICATIONS 850205 848362 1265 578 BAD DEBT EXPENSE 21133 21133 63963349 59306731 3257395 1399223 30393072 19578018 4150684 3066793 220236 324693 12196224 7942248 3541367 4253976 122730932 137423227 390486032 398146546 5097064 4810071 556619387 567603324 1024037 768099 161390711 171497487 162414748 172265586 X 103492377 102191064 290712262 293146674 394204639 395337738 556619387 567603324 X -8183746 9372745 -55900 X 0 1 X 1 0 X 36452281 45505704 50800255 48407249 47746213 228911702 36452281 45505704 50800255 48407249 47746213 228911702 17921636 210990066 1443378 1243454 706482 775080 1869801 6038195 234949897 29432211 0.89800 0.91170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 394204638 47418637 9877863 6666939 49496462 395337737 420659550 48073965 -26283102 6682455 41563320 394204638 285313304 50388434 164240258 5420038 73862408 420659550 267737544 44899410 17197810 7327218 37194242 285313304 258782133 35750238 18183656 8774699 36203784 267737544 0.26000 0.38000 0.36000 1 0 112388 112388 8046149 6039640 2006509 2401320 1787298 614022 1636367 115310 1521057 4253976 LONG/SHORT EQUITY 56223094 F REAL ASSETS 75245698 F ABSOLUTE RETURN AND CREDIT 66878077 F PRIVATE EQUITY 129637287 F CASH AND ACCRUALS 2097053 F BONDS 61250010 F CERTIFICATES OF DEPOSIT 6815327 F 398146546 DUE TO UVA AND RELATED ORGANIZATIONS 166715320 ANNUITY AND LIFE INCOME OBLIGATIONS 1944437 OTHER LIABILITIES 2837730 171497487 X 63907540 9372745 -55900 9316845 54590695 1188908 1188908 55779603 62774441 0 62774441 1188908 1188908 63963349 PART X, LINE 2: THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXES AS DEFINED BY SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE (THE CODE) AND CLASSIFIED AS A PUBLIC CHARITY UNDER 509 (A) (1) OF THE CODE. THE ASSOCIATION IS REQUIRED TO RECOGNIZE THE EFFECT OF A TAX POSTION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN BASED ON A 'MORE LIKELY THAN NOT ' OF BEING SUSTAINED BY A TAXING AUTHORITY THRESHOLD. THE ASSOCIATION DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS REQUIRED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF BENEFICIAL TRUST INTEREST -143,111. CHANGE IN VALUE OF TRUSTS AND ANNUITIES 87,211. PART V, LINE 4 THE ASSOCIATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 2,400 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES IN FURTHERANCE OF ASSOCIATION'S MISSION, INCLUDING DONOR-RESTRICTED FUNDS, ENDOWMENTS, AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. THE FUNDS SUPPORT SPECIFIC PROGRAMS, SCHOLARSHIPS, STUDENT ACTIVITIES, AND UNIVERSITY-RELATED ORGANIZATIONS. 1 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 12398 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 54875 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 635 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 62620 0 0 0 0 0 0 130528 0 130528 0 0 0 0 0 0 PART I, LINE 2: THE UVA FUND PROVIDES SUPPORT FOR AN EXTENSIVE RANGE OF EDUCATIONAL AND SCHOLARLY WORK REFLECTING INTERNATIONAL INTERESTS. THESE FUNDS PROMOTE THE ENGAGEMENT OF FACULTY AND STUDENTS IN THE DEVELOPMENT OF MULTIDISCIPLINARY SCHOLARSHIP AND RESEARCH PROJECTS THAT ADDRESS EQUAL AND SOCIAL JUSTICE, SUSTAINABLE ECONOMIC DEVELOPMENT, PUBLIC HEALTH, GLOBAL INTERCONNECTION, AND PUBLIC SERVICE. FUNDS ARE USED TO PAY FOR SPEAKERS, TRAVEL AND HANDS-ON LEARNING OPPORTUNITIES FOR STUDENTS AND FACULTY. PART I, LINE 3: FOREIGN EXPENDITURES ARE ACCOUNTED FOR ON THE ACCURAL BASIS. PART III ACCOUNTING METHOD: 1 UNIVERSITY OF VIRGINIA PO BOX 40229 CHARLOTTESVILLE VA 22904 546001796 501(C)(3) 45111122 0 N/A N/A STUDENT, FACULTY & PROGRAM SUPPORT 1 0 GRANTS AND SCHOLARSHIPS 993 5355596 N/A N/A PART I, LINE 2: THE UVA FUND SERVES THE UNIVERSITY COMMUNITY WITH FINANCIAL AND ENDOWMENT MANAGEMENT SERVICES, SCHOLARSHIP ADMINISTRATION, DONOR STEWARDSHIP, GRANT ASSISTANCE AND EMERGENCY STUDENT LOANS. PART III THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, MANAGES HUNDREDS OF RESTRICTED ENDOWMENTS, SCHOLARSHIPS AND OPERATING FUNDS FOR ORGANIZATIONS AND UNITS ACROSS THE UNIVERSITY COMMUNITY. DETAILED RECORDS OF ALL GIFTS AND INCOME ARE MAINTAINED. THE ACCOUNTING SOFTWARE USED BY THE UVA FUND PROVIDES AN ACCURATE AND DETAILED HISTORY OF EXPENDITURES FOR ALL FUNDS BY ACCOUNT. ALL GRANT REQUESTS ARE REVIEWED PRIOR TO PAYMENT TO ENSURE THEY MATCH THE FUND'S PURPOSE, CONFORM TO THE DONOR'S ORIGINAL INTENT, AND THAT ALL RESTRICTIONS ARE MET. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 LILY E WEST PRESIDENT AND CEO 263080 0 0 0 9522 0 26308 0 16532 0 315442 0 0 0 RICHARD GARD VP COMMUNICATIONS 173461 0 10648 0 3562 0 18411 0 18168 0 224250 0 0 0 SUSAN B KLOBUCHAR CMO 160810 0 10541 0 764 0 17135 0 19948 0 209198 0 0 0 BRENT J PERCIVAL ED JEFFERSON TRUST 157223 0 2000 0 335 0 15922 0 16108 0 191588 0 0 0 ELIZABETH K TURRISI CTO 150438 0 2000 0 2340 0 7812 0 18728 0 181318 0 0 0 GARRETTE L ASHLEY TREASURER & CFO 134598 0 2108 0 330 0 13671 0 19880 0 170587 0 0 0 ALEXANDER B NEWELL DIRECTOR ENTERPRISE IT 130085 0 2000 0 783 0 13208 0 21836 0 167912 0 0 0 JUDY LE DIRECTOR COMMUNICATIONS 123086 0 2000 0 474 0 12509 0 19719 0 157788 0 0 0 SUSAN M GALLEGOS SENIOR DIRECTOR, DEVELOPMENT OPERATI 128121 0 2000 0 2202 0 13012 0 8982 0 154317 0 0 0 PART I, LINE 1A FARMINGTON COUNTRY CLUB DUES: THE ALUMNI ASSOCIATION PAYS FOR THE PRESIDENT AND CEO TO MAINTAIN A MEMBERSHIP IN THE FARMINGTON COUNTRY CLUB. FARMINGTON IS A SOCIAL CLUB USED BY THE EMPLOYEE FOR BUSINESS AND RECREATIONAL USE. THIS IS CONSIDERED FULLY TAXABLE AND IS THEREFORE INCLUDED IN THE EMPLOYEE'S W-2 TAXABLE WAGES. PART I, LINE 3 DURING ITS ANNUAL REVIEW, THE COMPENSATION COMMITTEE OF THE BOARD OF MANAGERS REVIEWS THE COMPENSATION PACKAGE OF THE PRESIDENT AND CEO AND DETERMINES IF AN ANNUAL BONUS IS MERITED AND IF SO, THE AMOUNT. THIS REVIEW CONSIDERS PERFORMANCE AS WELL AS COMPARABILITY WITH SIMILAR POSITIONS AT OTHER INDEPENDENT ALUMNI ASSOCIATIONS AND THE RESULTS OF THE INDEPENDENCE EXECUTIVE COMPENSATION ANALYSIS. X 242 5898819 FAIR MARKET VALUE X HORSES 6 185000 FAIR MARKET VALUE X OTHER 14 20973 FAIR MARKET VALUE 3 0 1 1 PART I, COLUMN (B): THE AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS RECEIVED. PART I, LINE 32B: THE ALUMNI ASSOCIATION USES INDEPENDENT AGENTS AND BROKERS TO SELL AND PROCESS GIFTS OF SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY MANAGEMENT AND THE ASSOCIATION'S INDEPENDENT ACCOUNTING FIRM HANTZMON WIEBEL, LLP. FURTHER REVIEW IS PROVIDED BY THE AUDIT COMMITTEE AT A MEETING CALLED SPECIFICALLY FOR THIS PURPOSE. PRIOR TO SUBMISSION THE FORM IS PROVIDED TO THE FULL BOARD OF MANAGERS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF MANAGERS FILES WITH THE SECRETARY A CONFLICT OF INTEREST DISCLOSURE STATEMENT. THIS STATEMENT IS RENEWED ON AN ANNUAL BASIS AT THE BEGINNING OF EACH FISCAL YEAR. A CONFLICT OR POTENTIAL CONFLICT OF INTEREST IS CONSIDERED TO EXIST IF THE MEMBER OR A MEMBER'S DEPENDENT HAS ANY RELATIONSHIP, INTEREST, OR SITUATION WHICH MIGHT INDICATE A DUALITY OF LOYALTY OR INTEREST. IF A CONFLICT EXISTS, THE MEMBER IS ASKED TO IDENTIFY THE SPECIFIC CONFLICT. ANY MEMBER OF THE BOARD HAVING A CONFLICT OF INTEREST IN CONNECTION WITH ANY MATTER BEFORE THE BOARD SHALL SO INDICATE AT THE TIME AND SHALL BE EXPECTED TO EXCUSE HIMSELF/HERSELF/THEMSELF DURING THAT PORTION OF THE MEETING. THE MINUTES OF THE MEETING SHALL REFLECT ANY SUCH DISCLOSURE AND ABSTENTION FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION PROGRAM AT THE ALUMNI ASSOCIATION OF THE UNIVERSITY OF VIRGINIA (THE ASSOCIATION) IS DESIGNED TO ALIGN THE INTERESTS OF EXECUTIVE OFFICERS WITH THEIR PERFORMANCE. THIS PROGRAM IS BASED ON A PHILOSOPHY THAT THE TOTAL COMPENSATION PACKAGE MUST BE COMPETITIVE WITH SIMILAR POSITIONS IN THE INDUSTRY IN ORDER TO ATTRACT AND RETAIN EXECUTIVE TALENT. THE COMPENSATION COMMITTEE (COMMITTEE) OF THE ASSOCIATION'S BOARD OF MANAGERS IS RESPONSIBLE FOR OVERSIGHT AND ADMINISTRATION OF THE EXECUTIVE COMPENSATION PROGRAM. THE COMMITTEE RETAINS A PROFESSIONAL CONSULTANT TO PROVIDE AN INTERMEDIATE SANCTIONS REVIEW OF THE PRESIDENT AND FIVE HIGHEST PAID POSITIONS AND A MARKET VALUE ANALYSIS OF ALL OTHER MAJOR JOB DESCRIPTIONS ON A TRIENNIAL BASIS. SALARY AND OTHER BENEFITS ARE BENCHMARKED AGAINST THE COMPENSATION PAID TO OFFICERS AND UPPER MANAGEMENT IN COMPARABLE, HIGH PERFORMING COMPANIES WITH SIMILAR RESPONSIBILITIES. THIS PROFESSIONAL REVIEW WAS LAST PERFORMED IN FISCAL YEAR 2021-2022. THE COMPENSATION COMMITTEE DOCUMENTS THE DELIBERATION AND ALL DECISIONS MADE. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE ASSOCIATION DOES MAKE ITS FINANCIAL STATEMENTS, IRS FORM 990, AND IRS FORM 990-T AVAILABLE TO THE PUBLIC ON ITS OWN WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF BENEFICIAL TRUST INTEREST -143,111. CHANGE IN VALUE OF TRUSTS AND ANNUITIES 87,211. THE JEFFERSON TRUST FOR THE UNIV OF VA 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 GRANT PROGRAM VA 918413 45093730 UVAA