2024-05-15T11:43:44+00:00 2023-06-30 350921680 CROWE LLP 401 East Las Olas Blvd Suite 1100 Fort Lauderdale FL 333014230 990 2022-07-01 464365190 Murray 1693 Scholars Foundation MURR 7572211363 PO Box 8795 Williamsburg VA 231878795 CINDY L GASS SECRETARY/TREASURER 7572211363 2024-05-15 true CINDY GASS 999009999 BRITTNEY KOCAJ P01320603 9542028600 2022 2023-04-26 12:10:37Z JAMES B MURRAY JR PO Box 8795 Williamsburg VA 231878795 2206133 false X NONE X 2013 VA SUPPORT OF THE WILLIAM & MARY 1693 SCHOLARS PROGRAM 7 5 0 5 0 0 93720 211341 0 1535615 311282 0 1629335 522623 622017 650253 0 29524 0 0 0 153007 127022 804548 777275 824787 -254652 17838201 18525700 3945 4197 17834256 18521503 SUPPORT OF THE WILLIAM & MARY 1693 SCHOLARS PROGRAM false false 650253 650253 PROVIDE GENERAL FUNDING FOR THE WILLIAM & MARY 1693 SCHOLARS PROGRAM IN ORDER TO PROVIDE SCHOLARSHIP FUNDING FOR STUDENTS CHOSEN AS 1693 SCHOLARS THROUGH THIS SCHOLARSHIP PROGRAM. 650253 true true false false false false false false true false true false false false true false true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 7 5 false false false false true true false true false false false true true true true true true false false false VA X TERESA L MUNFORD 7572211363 114 NORTH BOUNDARY STREET WILLIAMSBURG VA 23185 JAMES B MURRAY JR CHAIRPERSON 0.2 0.0 X X 0 0 0 DANIEL A CRISTOL DIRECTOR 0.2 50.0 X 0 141648 43174 JEAN B ESTES DIRECTOR 0.1 0.0 X 0 0 0 KATHERINE A ROWE DIRECTOR 0.2 52.0 X 0 907712 92681 LISA RODAY DIRECTOR 0.1 0.0 X 0 0 0 MICHAEL P HENNESSY DIRECTOR 0.1 0.0 X 0 0 0 W EDWARD BRIGHT DIRECTOR 0.1 0.0 X 0 0 0 AMY S SEBRING SECRETARY/TREASURER (ENDED 10/22) 0.5 52.0 X 0 368752 64420 Cindy L Gass SECRETARY/TREASURER (BEGAN 10/22) 0.5 50.0 X 0 166204 28843 TERESA L MUNFORD BUSINESS MANAGER 8.0 32.0 X 0 103682 22723 0 1687998 251841 0 false true false 0 101888 109453 211341 0 0 0 0 0 228108 228108 0 0 1766684 1683510 83174 0 83174 83174 0 0 0 0 0 522623 0 0 311282 650253 650253 1312 1312 0 0 0 0 11744 11744 1136 1136 1693 PF Expenses for endowment management 85985 85985 STAFF COMPENSATION 26845 26845 0 0 0 0 777275 650253 127022 0 352226 477931 0 0 0 0 0 0 0 0 17485975 18047769 0 0 0 17838201 18525700 3945 4197 0 0 0 0 3945 4197 X 226121 290721 17608135 18230782 17834256 18521503 17838201 18525700 -254652 941899 0 X false true X true false X X X 2 WILLIAM & MARY FOUNDATION 540734117 5 true 0 0 WILLIAM & MARY 546001718 2 true 650253 0 2 650253 0 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17485975 163346 1252172 767739 85985 18047769 18785773 91513 -588961 690203 112147 17485975 14361178 697 5131574 661349 46327 18785773 14938989 99500 -67009 610302 14361178 13739215 945234 802148 547608 14938989 0.0 0.61 0.39 false false INVESTMENT 1693 PARTNERS FUND 18047769 F 18047769 0 X Schedule D, Part V, Line 4 Intended uses of endowment funds INCOME FROM ENDOWMENT IS USED FOR SCHOLARSHIPS FOR 1693 SCHOLARS AND GENERAL EXPENSES OF THE WILLIAM & MARY 1693 SCHOLARS PROGRAM Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation, the 1693 Foundation and the Fund are nonstock corporations which have been determined by the Internal Revenue Service to be exempt from taxes on income derived from activities related to its exempt purpose under Section 501(c)(3) of the Internal Revenue Code. The REF is a stock corporation, wholly owned by the Foundation, which has been determined by the Internal Revenue Service to be exempt from taxes on income derived from activities related to its exempt purpose under Section 501(c)(2) of the Internal Revenue Code. Reliance is a limited liability company that is not disregarded for tax purposes, and therefore is subject to tax. CWMF Ventures, Foundation Services, 1693 Management and Brown Hall, LLC are disregarded entities for income tax purposes, and all activity is reported on the Foundation's tax return. ASC Topic 740, Income Taxes, provides guidance for how uncertain tax positions should be recognized, measured, presented, and disclosed in financial statements. ASC Topic 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing tax returns of the Foundation and its affiliated entities to determine whether the tax positions will "more-likely-than-not" be sustained by the applicable tax authority. As a result, tax positions not meeting the more-likely-than not threshold would result in a current year expense or the absence of a benefit, as appropriate for the tax position. The Foundation has concluded that no provision for income tax is required in the Foundation's consolidated financial statements for the years ended June 30, 2023 and 2022. As of June 30, 2022, the Foundation had federal net operating losses available for carryforward in the amount of $3,893,197 as a result of unrelated business taxable income ("UBTI") resulting from investments in the Trust. UBTI is taxed at the prevailing corporate tax rate. Reliance had a net operating loss carryforward of $281,455 as of June 30, 2022. The loss carryforwards begin to expire in 2027. Due to the uncertainty about whether these losses will result in a tax asset, no tax asset was recorded in the consolidated financial statements at June 30, 2023 and 2022. Net operating losses arising in tax years ending after December 31, 2017, have an indefinite carryforward period. Losses arising in earlier tax years have a carryforward period of twenty years. Losses arising in tax years beginning after December 31, 2017, are limited to 80% of taxable income in the year deducted. The filing deadline for the June 30, 2023, tax return is May 15, 2024. In addition to the year ended June 30, 2023, the years ended June 30, 2022, 2021, and 2020 are open for inspection by the taxing authorities. true WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOV ENTITY 650253 SCHOLARSHIP SUPPORT 1 0 Schedule I, Part II, Line 1(h) PURPOSE OF GRANT OR ASSISTANCE WILLIAM & MARY: SCHOLARSHIPS FOR W&M 1693 SCHOLARS PROGRAM PARTICIPANTS Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. GRANTS ARE FOR STUDENTS ENROLLED AT WILLIAM & MARY AS IDENTIFIED BY THE W&M 1693 SCHOLARS PROGRAM. DETAILED LISTS OF STUDENTS TO BE SUPPORTED ARE PROVIDED TO THE FOUNDATION TO COVER THE AWARDS MADE BY THE COLLEGE. EXPENSES SPECIFIC TO EACH STUDENT (TUITION, FEES, ROOM, BOARD AND RESEARCH RELATED EXPENSES) ARE CHARGED TO AN AGENCY ACCOUNT HELD BY THE COLLEGE. ALL CHARGES TO THE ACCOUNT ARE REVIEWED AND VERIFIED AS ACCEPTABLE BEFORE FUNDING IS TRANSFERRED TO THE COLLEGE TO COVER THE EXPENSES. false false false false false false false false false KATHERINE A ROWE DIRECTOR 0 816320 0 82613 0 8779 0 65331 0 27350 0 1000393 0 0 DANIEL A CRISTOL DIRECTOR 0 138930 0 1500 0 1218 0 15283 0 27891 0 184822 0 0 AMY S SEBRING SECRETARY/TREASURER (ENDED 10/22) 0 349191 0 18000 0 1561 0 35536 0 28884 0 433172 0 0 Cindy L Gass SECRETARY/TREASURER (BEGAN 10/22) 0 146510 0 17775 0 1919 0 21619 0 7224 0 195047 0 0 Schedule J, Part I, Line 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION PERSONEL COSTS ARE REIMBURSED BY MURRAY 1693 SCHOLARS FOUNDATION ("FOUNDATION") TO WILLIAM & MARY BASED ON PERCENTAGE OF TIME WORKED FOR THE FOUNDATION. THE FOUNDATION HAS NO EMPLOYEES OF RECORD; ALL PAY REFLECTED FOR OFFICERS OR KEY EMPLOYEES IS FROM WILLIAM AND MARY AND REPRESENTS COMPENSATION FOR THEIR SERVICES IN THEIR POSITIONS AT THE COLLEGE. COMPENSATION IS DETERMINED IN ACCORDANCE WITH THE COLLEGE'S PAY PRACTICES WHICH INCLUDES CONSIDERATION OF RELEVANT MARKET DATA. Form 990, Part VI, Line 15 INPUT INTO COMPENSATION MATTERS MURRAY 1693 SCHOLARS FOUNDATION HAS NO EMPLOYEES OF RECORD; ALL PAY REFLECTED FOR OFFICERS OR KEY EMPLOYEES IS FROM WILLIAM & MARY AND REPRESENTS COMPENSATION FOR THEIR SERVICES IN THEIR POSITIONS AT THE COLLEGE. COMPENSATION IS DETERMINED IN ACCORDANCE WITH THE COLLEGE'S PAY PRACTICES WHICH INCLUDES CONSIDERATION OF RELEVANT MARKET DATA. Form 990, Part VI, Line 6 Classes of members or stockholders THIS ORGANIZATION IS A SUPPORTING ORGANIZATION OF WILLIAM & MARY FOUNDATION (WMF). THE ARTICLES OF INCORPORATION OF MURRAY 1693 SCHOLARS FOUNDATION (M1693SF) AUTHORIZE WMF TO APPOINT A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS. THE M1693SF BOARD IS COMPRISED OF FOUR (4) WMF APPOINTED DIRECTORS AND THREE (3) M1693SF ELECTED DIRECTORS. THERE WERE NO CONDITIONS OR RESTRICTIONS APPLIED TO SUCH POWERS DURING THE TAX YEAR. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THIS ORGANIZATION IS A SUPPORTING ORGANIZATION OF WILLIAM & MARY FOUNDATION (WMF). THE ARTICLES OF INCORPORATION OF MURRAY 1693 SCHOLARS FOUNDATION (M1693SF) AUTHORIZE WMF TO APPOINT A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS. THE M1693SF BOARD IS COMPRISED OF FOUR (4) WMF APPOINTED DIRECTORS AND THREE (3) M1693SF ELECTED DIRECTORS. THERE WERE NO CONDITIONS OR RESTRICTIONS APPLIED TO SUCH POWERS DURING THE TAX YEAR. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body NO COMMITTEE MEETINGS OF THIS NATURE WERE HELD DURING THE PERIOD. IN CASES WHEN SUCH MEETINGS ARE HELD, THE MEETINGS AND ANY ACTIONS WOULD BE DOCUMENTED CONTEMPORANEOUSLY. Form 990, Part VI, Line 11b Review of form 990 by governing body A COPY OF FORM 990 IS MADE AVAILABLE TO THE MEMBERS OF THE BOARD PRIOR TO FILING. THE SECRETARY/TREASURER AND THE BUSINESS MANAGER REVIEW A DRAFT OF THE FORM. FINAL AUTHORIZATION AND SIGNATURE ARE BY THE SECRETARY/TREASURER. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST DISCLOSURE SURVEYS ARE SENT EACH YEAR TO EACH BOARD MEMBER AND TO KEY STAFF MEMBERS OF RELATED ORGANIZATIONS WORKING WITH THE FOUNDATION BOARD. DISCLOSURES ARE REVIEWED BY THE BUSINESS MANAGER (BUSINESS MANAGER DISCLOSURE IS REVIEWED BY THE SECRETARY/TREASURER). ANY POSSIBLE CONFLICTS ARE ADDRESSED PER PROCEDURE OUTLINED IN THE POLICY. MATTERS RAISED DURING THE BOARD MEETINGS ARE ADDRESSED AT THAT TIME. BOARD MEMBERS ARE RESTRICTED FROM VOTING ON MATTERS IN WHICH THEY MAY HAVE A CONFLICT. Form 990, Part VI, Line 19 Required documents available to the public DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 A PUBLIC UNIVERSITY EXEMPT UNDER SECTION 170(C)(1) VA 501(c)(1) na false WILLIAM & MARY FOUNDATION 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 540734117 SUPPORT FOR WILLIAM & MARY VA 501(c)(3) 5 na false THE COLLEGE OF WILLIAM AND MARY REAL ESTATE FOUNDATION 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 541720019 HOLD TITLE TO REAL ESTATE PROPERTY AND COLLECT INCOME THEREFROM VA 501(c)(2) WILLIAM & MARY FOUNDATION false 1693 PARTNERS FUND 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 843505125 INVESTMENT OF ENDOWMENT VA 501(c)(3) Type I WILLIAM & MARY FOUNDATION false RELIANCE HOLDINGS LLC INVESTMENTS ADMINISTRATION 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 541995402 HOLD MEMBERSHIP INTEREST IN NEW TOWN ASSOCIATES LLC VA THE COLLEGE OF WILLIAM & MARY REAL ESTATE FOUNDATION C Corporation false false true true false false false false false false false false false false true true true false false false