2024-05-15T11:51:50+00:00 2023-06-30 350921680 CROWE LLP 401 East Las Olas Blvd Suite 1100 Fort Lauderdale FL 333014230 990 2022-07-01 540734117 William & Mary Foundation WILL 7572211906 5300 DISCOVERY PARK BLVD 3rd FLOOR WILLIAMSBURG VA 231882695 MATTHEW T LAMBERT CHIEF EXECUTIVE OFFICER 2024-05-15 true BRUCE AIRD 999009999 BRITTNEY KOCAJ P01320603 9542028600 2022 2023-04-26 12:10:37Z MATTHEW T LAMBERT 5300 DISCOVERY PARK BLVD 3rd FLOOR WILLIAMSBURG VA 231882695 235131497 false X https://wmf1693.org X 1939 VA TO AID, STRENGTHEN AND EXPAND, IN EVERY PROPER AND USEFUL WAY, THE WORK OF WILLIAM & MARY, A PUBLIC UNIVERSITY IN VIRGINIA. 38 38 0 43 0 0 31141557 20121582 3410413 3342111 65251393 17530373 900738 57096 100704101 41051162 33375279 42523424 0 0 0 4127139 8892150 10073550 42267429 52596974 58436672 -11545812 1102294415 1134029696 31033524 33715967 1071260891 1100313729 X TO AID, STRENGTHEN AND EXPAND, IN EVERY PROPER AND USEFUL WAY, THE WORK OF WILLIAM & MARY, A PUBLIC UNIVERSITY IN VIRGINIA. false false 32348872 28519740 0 THE FOUNDATION PROVIDES FINANCIAL AID FOR STUDENTS OF WILLIAM & MARY. 13495801 13495801 0 THE FOUNDATION PROVIDES SUPPORT FOR SALARIES OF PROFESSORS AND OTHER STAFF, AND OTHER GENERAL SUPPORT FOR WILLIAM & MARY. 507883 507883 2591456 THE FOUNDATION PROVIDES SUPPORT FOR OTHER RELATED ORGANIZATIONS. ADDITIONAL DETAILS CAN BE FOUND IN PART IX AND SCHEDULE I. 0 0 750655 RENT REVENUE FROM RENT OF BUILDINGS TO WILLIAM & MARY. 750655 46352556 true true false true false false true false true true true false true true true false true false false true false false false false false false true false true true false false false false false false false false false false true false false false true true true true false false true 22 0 true 0 false false false false false false false false false false false false X 38 38 false false false false true true false true true false false true true true true true true false false false CA CO DC FL KY ME AK MD MI MN NV NH NJ NY OH OR SC UT WA X Michelle Bernal 7572211906 5300 Discovery Park Boulevard Williamsburg VA 231882695 CLIFFORD B FLEET III TRUSTEE/CHAIRPERSON OF THE BOARD 1.0 1.5 X X 0 0 0 ELIZABETH CABELL JENNINGS TRUSTEE/VICE CHAIRPERSON FOR INVESTMENTS 1.0 1.0 X X 0 0 0 JANET R ATWATER TRUSTEE/VICE CHAIRPERSON FOR DEVELOPMENT STRATEGY 1.0 0.0 X X 0 0 0 RAELENE C WAGONER TRUSTEE/SECRETARY 1.0 0.0 X X 0 0 0 ANDREW W HORROCKS TRUSTEE 1.0 1.5 X 0 0 0 BROOKE TRIBLE WEINMANN TRUSTEE (TERM ENDED 10/22) 1.0 0.0 X 0 0 0 CHET M THAKER TRUSTEE 1.0 0.0 X 0 0 0 CHRISTINE MARIE VILLA TRUSTEE 1.0 0.0 X 0 0 0 DARPAN S KAPADIA TRUSTEE 1.0 1.0 X 0 0 0 DAVID J JALLITS TRUSTEE (TERM ENDED 10/22) 1.0 1.0 X 0 0 0 DAVID N KELLEY TRUSTEE 1.0 0.0 X 0 0 0 DAVID R COVIN TRUSTEE 1.0 1.0 X 0 0 0 DAWN M AARON TRUSTEE 1.0 0.0 X 0 0 0 DR STEPHEN S TANG TRUSTEE (TERM BEGAN 10/22) 1.0 0.0 X 0 0 0 EUGENE P FOLEY JR TRUSTEE 1.0 1.0 X 0 0 0 FRANCES C ENGORON TRUSTEE 1.0 0.0 X 0 0 0 HILARY GRANT DIXON TRUSTEE (TERM BEGAN 10/22) 1.0 0.0 X 0 0 0 HOWARD DALE MCFADDEN TRUSTEE (TERM ENDED 07/22) 1.0 0.0 X 0 0 0 HYLAH B BALLOWE TRUSTEE 1.0 0.0 X 0 0 0 J SCOTT PERKINS TRUSTEE 1.0 1.0 X 0 0 0 JAMES E MALLORY TRUSTEE 1.0 1.0 X 0 0 0 JANE CHURCH HORVATH TRUSTEE 1.0 0.0 X 0 0 0 JENNIFER T MACKESY TRUSTEE 1.0 0.0 X 0 0 0 JILL MARIE LORD TRUSTEE 1.0 1.0 X 0 0 0 JODY W FORSYTH TRUSTEE 1.0 1.5 X 0 0 0 JOHN E LITTEL TRUSTEE/VOTING EX-OFFICIO (TERM ENDED 10/22) 1.0 2.0 X 0 0 0 JOHN E SIMMONS TRUSTEE 1.0 0.0 X 0 0 0 KARLA MUNDEN TRUSTEE 1.0 0.0 X 0 0 0 KATHERINE A ROWE TRUSTEE/ VOTING EX-OFFICIO 1.0 0.2 X 0 0 0 KEVIN M PHILLIPS TRUSTEE (TERM ENDED 10/22) 1.0 0.0 X 0 0 0 LOUIS GERARD DUDNEY TRUSTEE 1.0 0.0 X 0 0 0 MARK C BUSH TRUSTEE 1.0 0.0 X 0 0 0 MASHEA M ASHTON TRUSTEE 1.0 0.0 X 0 0 0 MELISSA D FRIEDERY TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL C PETTERS TRUSTEE/VOTING EX-OFFICIO (TERM BEGAN 10/22) 1.0 0.0 X 0 0 0 MICHAEL C SAPNAR TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL K POWELL TRUSTEE 1.0 1.5 X 0 0 0 PAMELA JORDAN PENNY TRUSTEE 1.0 0.0 X 0 0 0 PENELOPE H MEREDITH TRUSTEE 1.0 0.0 X 0 0 0 SHELLEY B GOODE TRUSTEE 1.0 0.0 X 0 0 0 TERI DALE DUNGAN TRUSTEE 1.0 0.0 X 0 0 0 TODD A STOTTLEMYER TRUSTEE 1.0 0.0 X 0 0 0 TODD ANDREW HOWARD TRUSTEE (TERM BEGAN 10/22) 1.0 0.0 X 0 0 0 AMY S SEBRING CHIEF FINANCIAL OFFICER AND TREASURER (ENDED 10/22) 13.0 2.0 X 92188 0 16105 BRUCE G AIRD CHIEF FINANCIAL OFFICER AND TREASURER ( BEGAN 04/23) 48.0 2.0 X 0 0 0 JULIE S LEACH EXECUTIVE DIRECTOR 32.0 0.0 X 91834 0 30113 MATTHEW T LAMBERT CHIEF EXECUTIVE OFFICER 30.0 0.5 X 219040 0 35033 WILLIAM D COPAN JR ASSISTANT TREASURER (ENDED 9/22) 12.5 37.5 X 195079 0 34242 CATHERINE MOUNTJOY CHIEF OPERATING OFFICER, 1693 PARTNERS FUND 5.0 40.0 X 511339 0 45924 F BRIAN HIESTAND CHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND 10.0 40.0 X 866051 0 64206 KARYN A TANCREDI CONTROLLER (ENDED 12/22) 50.0 0.0 X 165199 0 43851 2140730 0 269474 0 false true false Cambridge Associates LLC 125 HIGH ST BOSTON MA 021102704 INVESTMENT ADVISORY SERVICES 475000 BLACKBAUD INC 65 FAIRCHILD STREET CHARLESTON SC 29492 SYSTEM IMPLEMENTATION 441683 McGuireWoods LLP 800 E CANAL ST RICHMOND VA 232193956 LEGAL SERVICES 211844 Arnold & Porter Kaye Scholar LLP 601 MASSACHUSETTS AVE NW WASHINGTON DC 200013743 LEGAL SERVICES 180000 Deloitte & Touche LLP 4022 SELLS DR HERMITAGE TN 370762903 ACCOUNTING SERVICES 114503 7 20121582 2891625 20121582 RENT OF BUILDINGS TO W&M 531120 750655 750655 Management Fees - Related Orgs 525910 2591456 2591456 0 0 0 0 3342111 13675436 13675436 0 0 197935272 194080335 3854937 0 3854937 3854937 OTHER INCOME 900099 57096 57096 0 0 0 0 57096 41051162 3342111 0 17587469 42523424 42523424 42763 10816 18266 13681 145670 0 145145 525 187049 187049 387500 387500 2021950 510924 374588 1136438 102370 49400 27681 25289 949637 175944 5406 768287 200911 61655 1519 137737 173097 149581 14533 8983 2797 179 1168 1450 307866 222132 0 85734 299114 184699 0 114415 508562 378635 108271 21656 STAFF COMPENSATION 4336200 1745111 984816 1606273 FOOD SERVICES 230857 58733 25964 146160 BOOKS, SUBSCRIPTIONS 151990 81815 14620 55555 Sales/Other Taxes 16733 11064 5669 0 8484 1395 2133 4956 52596974 46352556 2117279 4127139 8016235 8637252 33674589 21260107 3185548 4463514 0 0 0 0 499855 499855 578178 1107560 15675678 8703521 7271271 6972157 4645868 5265600 828129037 871384967 0 216293834 214438684 1102294415 1134029696 686343 2664164 29040 26545 6090000 6090000 0 0 1909703 1710464 22318438 23224794 31033524 33715967 X 39902393 44236488 1031358498 1056077241 1071260891 1100313729 1102294415 1134029696 X -11545812 40297920 300730 X false true X true false X 46053202 64598226 28369419 31141557 20121582 190283986 0 0 46053202 64598226 28369419 31141557 20121582 190283986 36057913 154226073 10107705 11034802 10388111 10450589 13675436 55656643 0 0 0 0 0 0 84673 5555 47697 900738 57096 1095759 247036388 10747313 0.6243 0.6379 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 84673.0, COLUMN B - 5555.0, COLUMN C - 47697.0, COLUMN D - 900738.0, COLUMN E - 57096.0, COLUMN F - 1095759.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 187049 false false 187049 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY WILLIAM & MARY FOUNDATION PAID REGISTERED LOBBYISTS TO CONTACT MEMBERS OF THE UNITED STATES CONGRESS, VIRGINIA GENERAL ASSEMBLY, AND OTHER GOVERNMENT OFFICIALS REGARDING PENDING LEGISLATION RELATED TO HIGHER EDUCATION PROGRAMS, RESEARCH AND DEVELOPMENT INITIATIVES, FUNDING, STUDENT FINANCIAL AID, CAREER DEVELOPMENT, STUDENT VETERANS, COASTAL SYSTEMS AND OTHER VARIOUS ISSUES HELPFUL TO THE MISSION OF WILLIAM & MARY FOUNDATION. 0 6144743 X X X X X COLLECTION USED FOR TEACHING false 743301003 18547940 50725344 10946422 17136530 2145000 782346335 780004828 20792882 -30122199 9433359 16126149 1815000 743301003 577882344 19940287 207869492 8491339 15380956 1815000 780004828 583962456 21185597 -2713926 7705208 15031575 1815000 577882344 553237491 24582320 29293255 9771630 11563980 1815000 583962456 0.0337 0.4737 0.4926 true false 2354065 2354065 6615067 2978025 3637042 5108485 5094934 13551 1598061 630562 967499 6972157 INVESTMENT 1693 PARTNERS FUND 800290549 F DISCOUNT NOTES AND OTHER SHORT TERM INVESTMENTS 70897150 F INVESTMENT IN COLLEGE OF WILLIAM & MARY REAL ESTATE FOUNDATION 5000 C LIMITED PARTNERSHIPS 174268 F OTHER INVESTMENTS 18000 F 871384967 COLLECTIONS 6144744 RECEIVABLE FROM CHARITABLE REMAINDER TRUSTS 4283694 CASH SURRENDER VALUE OF LIFE INSURANCE 1764149 FUNDS HELD IN TRUSTS BY OTHERS 202246097 214438684 DEFERRED COMPENSATION LIABILITY LIFE ESTATES RETAINED BY DONORS 264536 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 2308492 FUNDS HELD FOR OTHERS 20651766 23224794 X Schedule D, Part III, Line 4 Collections of art - description of collections THE FOUNDATION OWNS WORKS OF ART FOR THE BENEFIT OF THE MUSCARELLE MUSEUM OF WILLIAM & MARY, AS WELL AS ANTIQUES USED BY WILLIAM & MARY IN VARIOUS BUILDINGS. Schedule D, Part V, Line 4 Intended uses of endowment funds PAYOUT FROM ENDOWMENT FUNDS IS USED FOR SCHOLARSHIPS, PROFESSORSHIPS AND OTHER DEPARTMENTAL USES, OR FOR THE GENERAL PURPOSES OF THE FOUNDATION OR WILLIAM & MARY. IN ADDITION TO ENDOWMENTS REPORTED IN SCHEDULE D, THE FOUNDATION HAS AN IRREVOCABLE INTEREST IN A PORTION OF THE INCOME FROM THESE ENTITIES. THE VALUE OF THE FOUNDATION'S INTEREST IN THESE ENTITIES IS REPORTED AS FUNDS HELD IN TRUST BY OTHERS, AND WAS $202,246,097 AND $204,422,205 AT JUNE 30, 2023 AND 2022, RESPECTIVELY. CHANGE IN THE VALUE OF THIS INTEREST DURING THE YEAR IS $2,176,108. THE FOUNDATION ALSO HOLDS CERTAIN ENDOWMENTS FOR THE BENEFIT OF THE OMOHUNDRO INSTITUTE OF EARLY AMERICAN HISTORY AND CULTURE VALUED AT $20,651,766 AND $20,116,426 AT JUNE 30, 2023 AND 2022, RESPECTIVELY. IN ACCORDANCE WITH ACCOUNTING GUIDANCE, THE OMOHUNDRO ENDOWMENTS ARE REPORTED WITH AN OFFSETTING LIABILITY AND ACTIVITY RELATING TO THE OMOHUNDRO ENDOWMENTS IS NOT REPORTED IN THE FOUNDATION'S STATEMENT OF ACTIVITY. AS A RESULT, THE OMOHUNDRO FUNDS ARE NOT INCLUDED IN PART V OF SCHEDULE D. DISTRIBUTIONS IN THE AMOUNT OF $763,690 WERE MADE FROM THE OMOHUNDRO ENDOWMENTS TO THE OMOHUNDRO INSTITUTE DURING THE YEAR. 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. Central America and the Caribbean 0 0 Investments 174268 0 0 0 0 0 0 174268 0 174268 false false true false false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual true THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 13495802 SCHOLARSHIPS THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 3283334 PROFESSORSHIPS THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 3102213 ATHLETIC COMPLEX FUND THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 2390781 CENTER FOR THE VISUAL ARTS THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 2319543 INTERCOLLEGIATE ATHLETICS THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 2027309 ADVANCEMENT FUNDING THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 1538122 LIBRARY ENHANCEMENTS, SUPPORT AND ADMINISTRATION THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 1531200 UNIVERSITY STRATEGIC PRIORITIES THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 1439496 W & M VET PROGRAM THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 1243039 INSTITUTE, INTEGRATIVE CONSERVE FD THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 1093085 JIMMYE LAYCOCK FOOTBALL COMPLEX THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 1038826 MUSEUMS AND GALLERIES THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 975000 TENNIS FACILITY FUND THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 930847 CAMP LAUNCH PROGRAM THE COLLEGE OF WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 GOVERNMENT ENTITY 670067 ALUMNI HOUSE EXPANSION THE COLLEGE OF WILLIAM & MARY PO BOX 8797 WILLIAMSBURG VA 231878797 546001718 GOVERNMENT ENTITY 415501 GLOBAL RESEARCH INSTITUTE FUND THE COLLEGE OF WILLIAM & MARY PO BOX 8798 WILLIAMSBURG VA 231878798 546001718 GOVERNMENT ENTITY 4528377 GENERAL SUPPORT OF UNIVERSITY MURRAY 1693 SCHOLARS FOUNDATION PO BOX 8795 WILLIAMSBURG VA 231878795 464365190 501(C)(3) 101888 GENERAL SUPPORT WILLIAM & MARY ALUMNI ASSOCIATION PO BOX 8795 WILLIAMSBURG VA 231878795 546054289 501(C)(3) 236843 GENERAL SUPPORT OMOHUNDRO INSTITUTE OF EARLY AMERICAN HISTORY & CULTURE PO BOX 8781 WILLIAMSBURG VA 231878781 541045628 501(C)(3) 5408 GENERAL SUPPORT THE COLLEGE OF WILLIAM AND MARY REAL ESTATE FOUNDATION INC PO BOX 8795 WILLIAMSBURG VA 231878795 541720019 501(C)(3) 61852 GENERAL SUPPORT WILLIAM AND MARY ATHLETIC EDUCATIONAL FOUNDATION PO BOX 399 WILLIAMSBURG VA 23187 546056480 501(C)(3) 89891 GENERAL SUPPORT MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION PO BOX 8795 WILLIAMSBURG VA 23188 541224563 501(C)(3) 5000 GENERAL SUPPORT 7 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. SCHOLARSHIPS ARE AWARDED BY EITHER THE FINANCIAL AID OFFICE OR ACADEMIC DEPARTMENTS OF WILLIAM & MARY BASED ON FINANCIAL NEED, ACADEMIC ACHIEVEMENT AND OTHER SIMILAR STANDARDS. AT THE TIME OF DISBURSEMENT FOR SCHOLARSHIPS OR OTHER NEEDS, THE PURPOSE IS REVIEWED TO ENSURE IT IS IN COMPLIANCE WITH DONOR RESTRICTIONS, IF ANY. X X true true false false false false false false false true false MATTHEW T LAMBERT CHIEF EXECUTIVE OFFICER 217584 0 750 0 706 0 16945 0 18088 0 254073 0 0 0 WILLIAM D COPAN JR ASSISTANT TREASURER (ENDED 9/22) 188844 0 500 0 5735 0 17720 0 16522 0 229321 0 0 0 F BRIAN HIESTAND CHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND 315770 0 548645 0 1636 0 32200 0 32006 0 930257 0 0 0 CATHERINE MOUNTJOY CHIEF OPERATING OFFICER, 1693 PARTNERS FUND 231746 0 278846 0 747 0 20198 0 25726 0 557263 0 0 0 KARYN A TANCREDI CONTROLLER (ENDED 12/22) 162265 0 1500 0 1434 0 24073 0 19778 0 209050 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel DURING THE FISCAL YEAR CERTAIN TRIPS FOR FUNDRAISING PURPOSES MAY OCCUR WHERE THE CEO AND OTHER FOUNDATION AND WILLIAM & MARY OFFICIALS USE CHARTER AIR TRAVEL TO SAVE TIME OR IT IS COST EFFICIENT FOR THE GROUP OF INDIVIDUALS TRAVELLING. THE CEO IS AN OFFICER OF THE FOUNDATION. ANY CHARTER TRAVEL FOR THESE PURPOSES IS IN CONNECTION WITH HIS OFFICIAL DUTIES AS AN OFFICER OF THE FOUNDATION. IN ACCORDANCE WITH FOUNDATION POLICIES, THE USE OF CHARTER TRAVEL IS APPROVED IN ADVANCE BY THE TREASURER (OR OTHER RESPONSIBLE OFFICER) OF THE FOUNDATION IF DETERMINED TO BE A NECESSARY BUSINESS EXPENSE. Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE CEO'S COMPENSATION INCLUDES MEMBERSHIP TO A LOCAL SOCIAL CLUB. THE BENEFIT IS TREATED AS TAXABLE INCOME TO THE CEO. Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation WILLIAM & MARY (THE UNIVERSITY) IS THE COMMON PAYMASTER FOR EMPLOYEES OF WILLIAM & MARY FOUNDATION (THE FOUNDATION). AS SUCH, THE FOUNDATION DOES NOT HAVE EMPLOYEES OF RECORD FOR PURPOSES OF FORM W-3 REPORTING. HOWEVER, THE UNIVERSITY AND THE FOUNDATION ARE NOT RELATED ENTITIES AND THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE SALARY AND BENEFIT COSTS FOR THE FOUNDATION'S EMPLOYEES FOR SERVICES PERFORMED EXCLUSIVELY FOR THE FOUNDATION. COMPENSATION IS GENERALLY ESTABLISHED WITHIN THE GUIDELINES OF THE UNIVERSITY, INCLUDING COMPARABLE MARKET DATA AS APPROPRIATE. THE FOUNDATION'S EXECUTIVE COMMITTEE COMPLETES AN ANNUAL EXECUTIVE PERFORMANCE REVIEW ASSESSMENT FOR THE CEO, WHICH IS SHARED WITH THE PRESIDENT OF THE UNIVERSITY. COMPENSATION FOR THE CHIEF INVESTMENT OFFICER IS DETERMINED IN PART BY THE BOARD OF MANAGERS OF THE 1693 MANAGEMENT CO LLC, A WHOLLY OWNED SUBSIDIARY OF THE FOUNDATION, WHICH CONSIDERED A SURVEY OF COMPENSATION OF INDIVIDUALS IN SIMILAR POSITIONS AT SIMILAR ORGANIZATIONS. Schedule J, Part I, Line 7 Non-fixed payments BRIAN HIESTAND, CATHERINE MOUNTJOY RECEIVED BONUSES APPROVED BY THE BOARD OF MANAGERS OF 1693 MANAGEMENT CO LLC (THE INVESTMENT MANAGER OF 1693 PARTNERS FUND - A WHOLLY OWNED SUBSIDIARY OF W&M FOUNDATION). BONUSES ARE BASED ON RETURN OF THE FUND AND OTHER FACTORS. EACH INDIVIDUAL REPORTED ON SCHEDULE J RECEIVED A ONE-TIME BONUS OF $500-$1500 THAT WERE PROVIDED TO ALL UNIVERSITY EMPLOYEES DURING 2022. The Bonus & Incentive Compensation listed in Part II for the Chief Investment Officer and Chief Operating Officer includes amounts that were awarded in Calendar Year 2021 but paid to the employee in Calendar Year 2022. Schedule J, Part II COMPENSATION FROM UNRELATED ORGANIZATION THE INDIVIDUALS LISTED IN PART II ARE COMPENSATED BY WILLIAM & MARY, THE COMMON PAYMASTER FOR EMPLOYEES OF WILLIAM & MARY FOUNDATION. THE FOUNDATION AND THE UNIVERSITY ARE NOT RELATED ENTITIES. THE UNIVERSITY IS REIMBURSED FOR THE COMPENSATION OF EMPLOYEES WHO PERFORM SERVICES EXCLUSIVELY FOR THE FOUNDATION. PER THE FORM 990 INSTRUCTIONS, THEIR COMPENSATION IS REPORTED AS COMPENSATION FROM THE FILING ORGANIZATION. ADDITIONAL INFORMATION REGARDING COMPENSATION, ETC. IS REPORTED IN SCHEDULE O. A ECONOMIC DEVELOPMENT AUTHORITY OF JAMES CITY COUNTY VIRGINIA 541139263 000000000 2011-12-20 8090000 REFUND PRIOR TAX-EXEMPT BOND ISSUED 12/31/2006 false false false A 2000000 0 8090000 0 0 0 0 0 0 0 8090000 0 2011 true false true true A false false false false 0.0 0.0 0.0 false false true A false false true false true false false false true A true X 93 2891625 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - COLUMN B REFERS TO THE NUMBER OF CONTRIBUTORS. PUBLISHED FAIR VALUE ON THE DATE OF THE CONTRIBUTION IS USED TO DETERMINE VALUE. Form 990, Part III, Line 4d Description of other program services (Expenses $ 0 including grants of $ 0)(Revenue $ 750,655) RENT REVENUE FROM RENT OF BUILDINGS TO WILLIAM & MARY. Form 990, Part VI, Line 1a Material differences in voting rights THE GOVERNING DOCUMENTS OF THE FOUNDATION AUTHORIZE THE EXECUTIVE COMMITTEE TO EXERCISE THE FULL POWER AND AUTHORITY OF THE BOARD OF TRUSTEES BETWEEN MEETINGS OF THE TRUSTEES EXCEPT TO THE EXTENT LIMITED BY THE ARTICLES OF INCORPORATION, THE BYLAWS AND THE LAWS OF THE COMMONWEALTH OF VIRGINIA. THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIRPERSON AND VICE CHAIRPERSONS OF THE BOARD, SECRETARY, TREASURER, CHAIRPERSON OF EACH COMMITTEE, THE IMMEDIATE PAST CHAIRPERSON OF THE BOARD, AND AT LARGE TRUSTEES OF THE BOARD. ALL EXECUTIVE COMMITTEE MEMBERS ARE VOTING MEMBERS OF THE BOARD OF TRUSTEES. Form 990, Part VI, Line 6 Classes of members or stockholders THE PRESIDENT OF WILLIAM & MARY (OR AN INDIVIDUAL DESIGNATED BY THE PRESIDENT OF THE UNIVERSITY TO SERVE IN HIS OR HER STEAD AND FOR SUCH TERM AS DESIGNATED BY THE PRESIDENT OF THE UNIVERSITY) AND THE INDIVIDUAL SERVING AS RECTOR OF THE BOARD OF VISITORS OF WILLIAM & MARY (THE "BOV") (OR AN INDIVIDUAL DESIGNATED BY THE RECTOR OF THE BOV TO SERVE IN HIS OR HER STEAD AND FOR SUCH TERM AS DESIGNATED BY THE RECTOR OF THE BOV) SERVE AS EX-OFFICIO TRUSTEES, WITH FULL VOTING RIGHTS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE PRESIDENT OF WILLIAM & MARY (OR AN INDIVIDUAL DESIGNATED BY THE PRESIDENT OF THE UNIVERSITY TO SERVE IN HIS OR HER STEAD AND FOR SUCH TERM AS DESIGNATED BY THE PRESIDENT OF THE UNIVERSITY) AND THE INDIVIDUAL SERVING AS RECTOR OF THE BOARD OF VISITORS OF WILLIAM & MARY (THE "BOV") (OR AN INDIVIDUAL DESIGNATED BY THE RECTOR OF THE BOV TO SERVE IN HIS OR HER STEAD AND FOR SUCH TERM AS DESIGNATED BY THE RECTOR OF THE BOV) SERVE AS EX-OFFICIO TRUSTEES, WITH FULL VOTING RIGHTS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FOUNDATION PROVIDED A COPY OF FORM 990 TO THE GOVERNING BODY BEFORE IT WAS FILED. PRIOR TO FILING FORM 990, THE FOUNDATION'S CEO, CFO, EXECUTIVE DIRECTOR, BOARD CHAIR AND AUDIT COMMITTEE CHAIR REVIEW A DRAFT OF THE FORM. Form 990, Part VI, Line 12c Conflict of interest policy ANNUAL DISCLOSURES ARE REVIEWED FOR POSSIBLE CONFLICTS, WHICH ARE ADDRESSED IN THE MANNER OUTLINED IN THE CONFLICT OF INTEREST POLICY. MATTERS RAISED EITHER PRIOR TO OR DURING A MEETING OF THE BOARD OR ANY COMMITTEE ARE ADDRESSED AT THAT TIME. THE POLICY COVERS BOARD MEMBERS AND KEY STAFF MEMBERS. VOTING BOARD MEMBERS ARE RESTRICTED FROM VOTING ON MATTERS IN WHICH THEY MAY HAVE A CONFLICT, AND ARE EXCUSED FROM MEETINGS WHEN A VOTE IS TAKEN. DETERMINATION OF WHETHER A CONFLICT EXISTS IS MADE AT THE COMMITTEE OR BOARD LEVEL, BASED ON AUTHORITY TO TAKE ACTION. Form 990, Part VI, Line 19 Required documents available to the public THE CONSOLIDATED FINANCIAL STATEMENTS OF THE ORGANIZATION AND ITS RELATED ENTITIES ARE MADE AVAILABLE UPON REQUEST AND ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE GENERALLY NOT AVAILABLE TO THE PUBLIC, WITH THE EXCEPTION OF THE ORGANIZATION'S ARTICLES OF INCORPORATION, WHICH ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF SPLIT INTERESTS - -204970; CHANGE IN VALUE OF LIFE INSURANCE SURRENDER VALUE - 480700; CAPITALIZATION OF EXPENDITURE - 25000; PART VI, SECTION B, LINE 15A AND 15B PROCESS FOR DETERMINING COMPENSATION WILLIAM & MARY (THE UNIVERSITY) IS THE COMMON PAYMASTER FOR EMPLOYEES OF WILLIAM & MARY FOUNDATION (THE FOUNDATION). AS SUCH, THE FOUNDATION DOES NOT HAVE EMPLOYEES OF RECORD FOR PURPOSES OF FORM W-3 REPORTING. HOWEVER, THE UNIVERSITY AND THE FOUNDATION ARE NOT RELATED ENTITIES AND THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE SALARY AND BENEFIT COSTS FOR THE FOUNDATION'S EMPLOYEES FOR SERVICES PERFORMED EXCLUSIVELY FOR THE FOUNDATION. COMPENSATION IS GENERALLY ESTABLISHED WITHIN THE GUIDELINES OF THE UNIVERSITY, INCLUDING COMPARABLE MARKET DATA AS APPROPRIATE. THE FOUNDATION'S EXECUTIVE COMMITTEE COMPLETES AN ANNUAL EXECUTIVE PERFORMANCE REVIEW ASSESSMENT FOR THE CEO, WHICH IS SHARED WITH THE PRESIDENT OF THE UNIVERSITY. COMPENSATION FOR THE CHIEF INVESTMENT OFFICER IS DETERMINED IN PART BY THE BOARD OF MANAGERS OF THE 1693 MANAGEMENT CO LLC, A WHOLLY OWNED SUBSIDIARY OF THE FOUNDATION, WHICH CONSIDERED A SURVEY OF COMPENSATION OF INDIVIDUALS IN SIMILAR POSITIONS AT SIMILAR ORGANIZATIONS. CWMF VENTURES LLC 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 208014108 CONSTRUCT AND OWN A 3-STORY OFFICE BUILDING VA 769897 5242541 WILLIAM & MARY FOUNDATION FOUNDATION SERVICES LLC 5300 Discovery Park Boulevard WILLIAMSBURG VA 231882695 352687031 SUPPORT THE WILLIAM & MARY FOUNDATION VA 0 75560 WILLIAM & MARY FOUNDATION 1693 MANAGEMENT COMPANY LLC 5300 Discovery Park Boulevard WILLIAMSBURG VA 231882695 843512679 MANAGEMENT OF 1693 PARTNERS FUND VA 2591456 350936 WILLIAM & MARY FOUNDATION BROWN HALL LLC 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 BROWN RESIDENCE HALL VA 1 38032 WILLIAM & MARY FOUNDATION 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 true MURRAY 1693 SCHOLARS FOUNDATION PO BOX 8795 WILLIAMSBURG VA 231878795 464365190 SUPPORT OF WILLIAM & MARY 1693 SCHOLARS PROGRAM VA 501(c)(3) Type I WILLIAM & MARY FOUNDATION true 1693 PARTNERS FUND 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 843505125 INVESTMENT OF ENDOWMENT VA 501(c)(3) Type I WILLIAM & MARY FOUNDATION true 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 5891 909 0.01 true false true false true false false false false false false false false false true true false true true true THE COLLEGE OF WILLIAM AND MARY REAL ESTATE FOUNDATION D 632859 ACTUAL AMOUNT MURRAY 1693 SCHOLARS FOUNDATION B 101888 ACTUAL AMOUNT 1693 PARTNERS FUND Q 2591456 ACTUAL AMOUNT 1693 PARTNERS FUND R 19659285 ACTUAL AMOUNT 1693 PARTNERS FUND S 31517221 ACTUAL AMOUNT THE COLLEGE OF WILLIAM AND MARY REAL ESTATE FOUNDATION B 61852 ACTUAL AMOUNT