2024-11-12T13:15:25-08:00 2023-12-31 540505888 COLONIAL WILLIAMSBURG FOUNDATION PO Box 1776 WILLIAMSBURG VA 23187 990 2023-01-01 540505888 Colonial Williamsburg Foundation COLO 7572291000 PO Box 1776 Williamsburg VA 23187 Jacquelyn Ferree CFOO 2024-11-12 true true MARC BERGER BDO USA P01874563 7572207064 2023 2024-10-15 13:58:12Z Jacquelyn Ferree 440780817 false X www.colonialwilliamsburg.org X 1928 VA Preserve, restore, reconstruct, or otherwise maintain historical structures, objects, works of art and locations and to promote, encourage, and carry on any historical, interpretive, research, or related educational activities. 24 23 1235 650 14208583 52528341 64053910 31682862 32714817 31685584 30216613 -588552 -1135509 115308235 125849831 0 0 51271830 56990200 0 9500095 62773381 64522720 114045211 121512920 1263024 4336911 1661208452 1668091937 386370323 391524972 1274838129 1276566965 See Schedule O for information. false false 54441002 19337208 Education, Research and Historical Interpretation-The Historic Area is a 301-acre outdoor history museum with over 600 original and reconstructed houses, outbuildings, shops, taverns, and public buildings. Interpretation by costumed employees engage visitors in dialogue with historical residents of Colonial Williamsburg and at trade sites. Tours are offered through the houses, taverns and public buildings. Specialized tours are available that focus on African-Americans, the role of women in the 18th-century, and the origins of the U.S. Constitution. 16313151 484893 Museums, Preservation and Historic Resources-Colonial Williamsburg's wide-ranging collections, acquired over the past 90 years, provide the art, objects, artifacts, and buildings necessary to accurately recreate the environment of 18th-century Williamsburg. The archaeological and architectural collection include 500,000 whole archaeological artifacts from excavations in and around Williamsburg as well as 60 million fragments (probably the largest single archaeological holding relating to 18th-century America), and some 19,000 architectural fragments. 15600693 12892716 Taverns and Colonial Houses-Ideal for guests who wish to fully immerse themselves in the 18th-century, Colonial Williamsburg offers authentic period accomodations in the Historic Area where our founding families once lodged. Servers in taverns are in period dress and interpret the 18th-century dining experiences. 86354846 true true false true false false false true false true true true false true true true false true false false false false false false false false false false false true false false false false false false false false true true false false true true true true false false true 236 0 true 1235 true true true false false false false true true false 0 false false false false false false false X 24 23 true false false false false false false true true false false true true true true true true true true false AK AL AR CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X X Mary C Gummo 7572207135 PO Box 1776 Williamsburg VA 231871776 Clifford Fleet III President & CEO 65.00 0.00 X X 577780 0 107947 Kevin Patrick CFO & Treasurer 50.00 0.00 X 521140 0 129594 Ronald Hurst CMO 50.00 0.00 X 392341 0 134331 Elizabeth Kelly Vice President 50.00 0.00 326141 0 147104 Hazel Wong CLC & Secretary 50.00 0.00 X 402208 0 47738 Robert Underwood Vice President 50.00 0.00 315370 0 124295 Earl Granger III CDO 50.00 0.00 X 431574 0 2635 Samuel Rucker Vice President 50.00 0.00 297612 0 97690 Clifford Mustaafa Dozier CHRO 50.00 0.00 X 325766 0 61945 Henry Lai Vice President 50.00 0.00 292741 0 60103 Mia Nagawiecki Vice President 50.00 0.00 271911 0 33455 Shaun Coleman Vice President 50.00 0.00 276428 0 13608 Sani Silvennoinen CDO 50.00 0.00 X 229068 0 36034 Mark Hileman General Counsel 0.00 0.00 36000 0 0 Carly Fiorina Chair 4.00 0.00 X 0 0 0 Kendrick F Ashton Jr Trustee 2.00 0.00 X 0 0 0 Frank Batten Jr Trustee 2.00 0.00 X 0 0 0 Geoff Bennett Trustee 2.00 0.00 X 0 0 0 Catharine O'Neill Broderick Trustee 2.00 0.00 X 0 0 0 Mark A Coblitz Trustee 2.00 0.00 X 0 0 0 Walter Edgar Trustee 2.00 0.00 X 0 0 0 Neil M Gorsuch Trustee 2.00 0.00 X 0 0 0 Conrad M Hall Trustee 2.00 0.00 X 0 0 0 Antonia Hernandez Trustee 2.00 0.00 X 0 0 0 John A Luke Jr Trustee 2.00 0.00 X 0 0 0 Walfrido J Martinez Trustee 2.00 0.00 X 0 0 0 Leslie A Miller Trustee 2.00 0.00 X 0 0 0 Steven L Miller Trustee 2.00 0.00 X 0 0 0 Joseph W Montgomery Trustee 2.00 0.00 X 0 0 0 Steve Netzley Trustee 2.00 0.00 X 0 0 0 Walter S Robertson III Trustee 2.00 0.00 X 0 0 0 Gerald L Shaheen Trustee 2.00 0.00 X 0 0 0 Larry W Sonsini Trustee 2.00 0.00 X 0 0 0 Sheldon M Stone Trustee 2.00 0.00 X 0 0 0 YPing Sun Trustee 2.00 0.00 X 0 0 0 John C Thomas Trustee 2.00 0.00 X 0 0 0 Jeff Trammell Trustee 2.00 0.00 X 0 0 0 Alex Wallace Trustee 2.00 0.00 X 0 0 0 4696080 996479 64 true true false HES Intermediate Holdings LLC 9202 S Northshore Drive Suite 202 Knoxville TN 37922 Facilities mgmt 1399990 Anthem Health Plans of Virginia 3075 Vandercar Way Cincinnati OH 45209 Admistrative Fee 877735 Brand Federation LLC 1500 MacTavish Ave Richmond VA 23230 Marketing 717987 Brightview Landscape Services PO Box 740655 Atlanta GA 303740655 Landscape maintenance 510094 Digital Pulp 369 Lexington Ave 3rd Floor New York NY 10017 Web design 489876 21 975000 63078910 6110117 64053910 Admissions 611600 16433799 16433799 Historic Area Rentals 531110 842030 842030 Special Programs 611600 2546272 2546272 Taverns & Colonial Houses 722100 12892716 12892716 32714817 12257515 5149196 7108319 0 595394 595394 16320976 21259745 -4938769 -4938769 -1418688 -3520081 311086596 464595 292880161 711932 18206435 -247337 17959098 17959098 0 0 86843 79148 7695 7695 Advertising 323100 335911 335911 Other 900099 2480712 10132636 -7651924 Parking Fees 812930 374020 374020 9528 9528 3200171 125849831 31880482 14208583 15706856 0 0 0 0 3400101 526672 2174117 699312 0 43458476 27961190 12431233 3066053 326669 326669 6089134 4007716 1560609 520809 3715820 2009345 1440891 265584 13389800 13389800 710384 710384 200904 200904 0 0 3342455 3342455 -8776065 1636608 -10412673 3253677 3013487 33594 206596 5423066 2082792 763802 2576472 3258142 258117 2981424 18601 1134 1134 4663793 4023577 635287 4929 403090 271428 43299 88363 0 1141886 390369 745068 6449 4449854 1023992 3425862 0 7265134 6431663 823824 9647 621133 621133 Maintenance & Repairs 6585520 4327372 2258148 Contracted Services 5542137 2606536 2691379 244222 Equipment Rental & Maintenance 4105860 2792025 1309883 3952 Miscellaneous 3518215 2102695 1267311 148209 5422601 3534740 246964 1640897 121512920 86354846 25657979 9500095 130000 130000 49817988 56193669 15489610 26190668 4887034 2133203 0 0 25736 25736 1684955 1843473 2780852 2942775 640139761 343180651 294352688 296959110 146983429 168659342 565343991 524061311 0 0 579712169 588952650 1661208452 1668091937 17646230 25066533 13000000 12000000 317397662 312460658 38326431 41997781 386370323 391524972 X 782558312 782302010 492279817 494264955 1274838129 1276566965 1661208452 1668091937 X 4336911 16498185 -19106260 X false true X true true true X 37605515 53317540 70972947 52528341 64053910 278478253 35302465 11364383 24273210 31682862 32714817 135337737 0 0 0 72907980 64681923 95246157 84211203 96768727 413815990 2522616 5018065 7817351 3218378 3700099 22276509 949762 808587 1116824 1028462 1205922 5109557 3472378 5826652 8934175 4246840 4906021 27386066 386429924 18102505 14710568 14024074 15442920 20623299 82903366 0 18102505 14710568 14024074 15442920 20623299 82903366 0 3965732 1466243 2412132 3192116 3200168 14236391 94976217 80858734 111682363 102846239 120592194 510955747 0.75630 0.75340 0.16230 0.15670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 5607 5607 86349241 86354848 1000000 250000 false 1000000 1000000 1000000 1000000 4000000 6000000 4740 3710 7078 5607 21135 250000 250000 250000 250000 1000000 1500000 X X X X false 712327420 3072711 38723451 58146821 3256110 692720651 781177222 9005008 -12792389 60158634 4903787 712327420 664345975 20275908 149318926 48966909 3796678 781177222 679367030 5623899 50491113 69096486 2039581 664345975 649592739 4719612 91466356 62220436 4191241 679367030 0.29000 0.45000 0.26000 false false false 46470117 46470117 457811545 236878929 220932616 115690180 106301722 9388458 20167919 20167919 296959110 524061311 Deferred Bond Cost 128266 Deferred Loan Cost 426103 Gift Annuities 16723633 Interfund Receivable 449742567 Investment in Subsidiary 97131207 Other 4581712 Pension Pooled Income Funds 1700066 Resident Held Subject to Life Interest 9861748 Various Unitrusts 8657348 588952650 Accrued Long-Term Disability/Retirement 6229979 Deferred Income 3455380 Other Liabilities 13288457 Pension 3913482 Split Interest Agreements 15110483 41997781 X Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o Collections primarily consist of 18th century decorative arts and 19th century folk art, acquired through purchases and contributions since the Foundation's inception. Through the leadership of its Board of Trustees and staff, the Foundation strives to preserve, protect, and maintain the collection in perpetuity. Part III, Line 4: Description of organization's collections and how it furthers its purpose. The Colonial Williamsburg collection includes more than 60,000 examples of fine, decorative, and mechanical art from the 17th, 18th, and early 19th-centuries. Many of these objects are used to accurately furnish more than thirty historical structures maintained by the Foundation and opened to the public for educational purposes. The balance appear in rotating exhibitions at the Foundation's Abby Aldrich Rockefeller Folk Art Museum and DeWitt Wallace Decorative Arts Museum. The institution also maintains a collection of some 5,000 architectural artifacts. Most are associated with the nearly ninety 18th and early 19th-century structures that survive in Williamsburg's Historic Area. These materials, periodically exhibited to the public, inform our restoration and preservation decisions. Finally, Colonial Williamsburg holds approximately sixty million archaeological artifacts, most excavated in or near the Historic Area. These materials are widely studied by scholars in the United States and abroad. The artifacts are periodically featured in exhibits. Part V, Line 4: Intended uses of the endowment fund. The Foundation's endowment consists of 283 individual funds restricted for a variety of purposes. The endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. In accordance with the Foundation's Investment Policy, the Foundation appropriates for distribution each year six percent of its endowment fund's average fair market value over the prior 12 quarters through the June 30 preceding the calendar year in which the distribution is planned. The annual withdrawal includes amounts for operations and capital expenditures and amounts utilized in accordance with the terms of donor-restricted and board-designated endowments. The board approved supplemental withdrawals include amounts for debt repayment and interest expense. Withdrawals from the unrestricted portion of the endowment fund may by made with the approval of the Foundation's Board of Trustees. Part X : FIN48 Footnote There are no material tax positions that the Foundation believes will significantly change within twelve months of December 31, 2023.Parts XI and XII:The Foundation's audited financial statements are prepared on a consolidated basis, so the reconcilations in Parts XI-XII are not required. The Foundation does not include as a functional expense on Form 990 pension-related costs under ASC 740 (formerly FAS 158) or changes in the value of split interest agreements, consistent with the treatment of these items on the Foundation's audited financial statements. X X X X true true X X X X true false false false false false false false false Clifford Fleet III President & CEO 551242 26538 29161 78786 685727 Clifford Mustaafa Dozier CHRO 247225 64000 14541 29254 32691 387711 Earl Granger III CDO 350997 80000 577 2635 434209 Elizabeth Kelly Vice President 216439 36000 73702 135603 11501 473245 Hazel Wong CLC & Secretary 283498 74000 44710 19786 27952 449946 Henry Lai Vice President 226241 38000 28500 47058 13045 352844 Kevin Patrick CFO & Treasurer 393070 90000 38070 61454 68140 650734 Mark Hileman General Counsel 36000 36000 Mia Nagawiecki Vice President 214411 35000 22500 9459 23996 305366 Robert Underwood Vice President 210518 36000 68852 69462 54833 439665 Ronald Hurst CMO 301089 85000 6252 109442 24889 526672 Samuel Rucker Vice President 246293 40000 11319 65391 32299 395302 Sani Silvennoinen CDO 223845 5223 13261 22773 265102 Shaun Coleman Vice President 85247 111729 79452 6253 7355 290036 Part I, Line 1a: Relevant information in regards to selections on 1a. In 2023, the Foundation required the President to live in a house in the Historic Area to better facilitate the performance of his duties, and the house was provided free. Value of the housing in included on Schedule J as a nontaxable benefit.Golf and fitness club memberships at Colonial Williamsburg facilities are provided without charge to certain officers and employees to better facilitate performance of their duties. The value of the membership is included on Schedule J as a nontaxable benefit. Williamsburg Developments Share offcr/trus 105481 Lease, interest false Colonial Williamsburg Co Shares trustee 37751634 Mgmt fee,lease,interest false X 74 1297543 FMV X 90 4812574 FMV 2 false true true Part I, Line 32, Hire and Use of Third Parties When collections are deaccessioned, Colonial Williamsburg either gives or sells them to another museum or sends them to auction houses for sale so the best price can be realized. Collections are deaccessioned according to clear criteria outlined in our Collection Management Policy. Form 990, Part VI, Section A, Line 2 Clifford Fleet, Kevin Patrick, Hazel Wong, Conrad M. Hall, Walfrido Martinez, Carly Fiorina, John A. Luke, Jr., Joseph Montgomery, Walter Robertson, III, Larry Sonsini and Henry Wolf have a business relationship with a related party. Form 990, Part VI, Section B, Line 11b Form 990 is prepared by the Foundation's finance staff with assistance from other members of management as needed to ensure completeness and accuracy. The entire form and all schedules are reviewed during preparation and after completion by the Controller, followed by higher-level reviews by the Vice President of Finance and the Chief Financial Officer. Prior to filing with the IRS, a copy of the Foundation's final Form 990 (including required schedules) is provided in paper or electronic format to each member of the Board of Trustees. Form 990, Part VI, Section B, Line 12c Trustees receive and sign a conflict of interest disclosure form annually. Any conflicts that might arise during a member's Board tenure are disclosed to and addressed by the Board. Additionally, any trustee with a conflict in connection with any matter before the Board is required to disclose the conflict and is not permitted to take part in any vote with respect to the matter. Members of management receive a copy of the Foundation's conflict of interest policy and sign a disclosure form annually. The Foundation's General Counsel reviews management's annual conflict on interest disclosure forms to assure that compensating controls are put in place to mitigate or eliminate any identified conflict. Form 990, Part VI, Section B, Line 15b Compensation of the CEO and other officers of the organization is determined by the Human Resources Committee of the Board of Trustees. In its review and approval process, the members of the Human Resources Committee considered the report of an independent compensation consulting firm that was retained to compare the compensation of the CEO and other officers with that of incumbents in similar positions at comparable organizations. The compensation consulting firm produced a detailed report based on its review of data from compensation surveys, including one specific to not-for-profit organizations that include data from organizations similar to Colonial Williamsburg in mission and size. The review and approval process of the Human Resouces Committee is documented in the minutes of the Committee's meeting. Form 990, Part VI, Section C, Line 19 In compliance with federal and state disclosure requirements. Form 990, Part XI, Line 9 Change in value of Split Interest Agreements = $1153683 Form 990, Part XI, Line 9 Eliminate FAS 158 Adjustment = -$20259943 FOUNDATION'S 2023 MILESTONES The Foundations significant 2023 milestones, listed in chronological order:The Williamsburg Bray School, the oldest known building in the United States in which enslaved and free Black children were formally educated, moved from its location on the campus of William & Mary to Colonial Williamsburgs Historic Area. It is the 89th original structure restored by the Foundation and the first original 18th-century structure to be added to the Historic Area since the 1940s. Rediscovery and restoration of the Bray School highlights the complicated intersection of education, religion, race and slavery in 18th-century Williamsburg.Colonial Williamsburg was awarded reaccreditation for the next 10 years by The American Alliance of Museums.Colonial Williamsburg welcomed representatives from around the country for A Common Cause to All, the nations kickoff of Americas 250th anniversary planning. The weekend culminated on Sunday, March 12, when participants joined Thomas Jefferson (portrayed by Kurt Smith) in a symbolic gathering at the Raleigh Tavern, the site of Virginias 1773 resolution to create the committees of correspondence.Members of the community and the First Baptist Church congregation gathered in the Stryker Center to hear the details of the DNA, osteological, and archaeological analyses of the three burials that were excavated over the summer at the site of First Baptist Churchs first church building on Nassau Street.Groundbreaking ceremony for the Colin G. and Nancy N. Campbell Archaeology Center was held across the street from the Art Museums of Colonial Williamsburg.Administrative staff moved back into the historic Goodwin Building after a multi-year restoration.The Colonial Williamsburg Bookstore opened in Merchants Square. The bookstore, dedicated to selling Colonial Williamsburg publications, is located on the second floor at 440 West Duke of Gloucester Street.The Williamsburg Institute is launched with a panel including 18th-century leaders Thomas Jefferson, James Madison, and the Rev. Gowan Pamphlet discussing navigating political shifts and differing ideologies. The Institute is a collaboration between leaders of Colonial Williamsburg and William & Mary with the objective of building a more effective, engaged, civil and inclusive society. Colonial Williamsburg launched a comprehensive fundraising campaign, The Power of Place, tied to the 100th anniversary of the Foundation and the nations 250th anniversary.Colonial Williamsburg hosted the first I made this: Black Artists & Artisans Conference, exploring the lives and work of Black Artists and Artisans from the 18th to 20th centuries. Highlights of national media coverage in 2023 include: Building a Better Colonial Williamsburg The New York Times Gold Coins, a Toothbrush and a Bullet in the Spine Mark Civil War Graves - The Washington Post Inside The Excavation of One of the 1st Black Churches in US - The Today Show In Colonial Williamsburg, Thieving Rats Save History - Atlas Obscura Experts Link Graves to One of the Nations Oldest Black Churches - The Associated Press Carly Fiorina: Americas 250th Needs American Business - Fortune School building for Black children in 1700s moves to Colonial Williamsburg - The Washington Post Statement of Program Service Accomplishments The 2023 990 filing highlights significant achievements in The Colonial Williamsburg Foundations (Foundation) work to tell a complete story of Americas founding generation. The filing represents thoughtful monitoring of expenses and investments tied to the Foundations Strategic Plan, support for its dedicated employees, funding for new projects that explore the rich history of the period, and investment in the Foundations expanding reach as a global educational resource for teachers, students and history enthusiasts interested in Americas earliest years. Approximately 80 percent of the Foundations annual funding comes from charitable donations. In the fall of 2023, the Foundation launched the public phase its Power of Place fundraising campaign to raise $600 million by 2027. The Foundation reported a record fundraising year with more than $103 million received in new gifts and new commitments. The campaigns ambitious financial goal supports Colonial Williamsburgs educational mission, and provide financial stability and resources to more effectively reach people onsite and online. Thoughtful allocation of these important resources greatly aids the Foundations work to tell the complete story of the American Revolutionary era. The Power of Place campaign supports major initiatives in three key groupings consisting of preservation, education and civic engagement: Preservation Priority Projects The Colin G. and Nancy N. Campbell Archaeology Center and CW Archaeology The Magazine and Military Programs Randolph Stable and Rare Breeds African Baptist Meeting House and Burial Ground (formerly known as First Baptist Church)Williamsburg Bray School Custis Square The Goodwin Building Education Priority Projects American Indian Initiative Museum Theater Historic Farming and Gardening Civic Engagement Priority Projects Colonial Williamsburg Innovation Studios History.org Bob and Marion Wilson Teacher Institute Center Through philanthropic support, Colonial Williamsburg relocated the Williamsburg Bray School from the campus of William & Mary to its new home within the Historic Area. The school is the oldest known building used for the education of enslaved and free Black children in the United States. Established in 1760 by the Associates of Dr. Bray, an Anglican charity based in England, the schools faith-based curriculum justified slavery and encouraged those who were enslaved to accept their status. The building is undergoing a complete restoration and, when complete in early 2025, will be used for educational programming as part of Colonial Williamsburgs commitment to telling the complete story of Americas founding generation. The building is the Foundations 89th original structure and the first to be added to the Historic Area since the 1940s.The Williamsburg Bray School and adjacent African Baptist Meeting House and Burial Ground (formerly known as First Baptist Church) projects represent a valuable partnership between the Foundation, William & Mary and the Williamsburg descendant community who can trace their ancestry to one or both buildings. The descendant community is helping shape programming that will tell the stories of the people who studied and worshiped at these important institutions. Combined with generous support from donors and philanthropic organizations, Colonial Williamsburg is uncovering history that has not yet been told. Educational programming drives the Foundations work and is guided by a newly implemented interpretive plan that integrates programming at core sites in the Historic Area. In 2023, the plan was implemented at three sites: the Capitol, Armoury and Courthouse. Additional sites will be added in the coming months. The plan incorporates a peer-review component consisting of historians and other content experts to ensure accuracy of the materials. The New York Times reported on the work underway at Colonial Williamsburg in a feature article published on May 8 entitled Building a Better Williamsburg that delves into the Foundations presentation of fact-based programming. Several significant articles published in 2023 about the work underway at Colonial Williamsburg are included at the end of this summary.Additionally, the Foundations reach is growing rapidly in the digital realm through the establishment of Colonial Williamsburgs Innovation Studios. Through digital storytelling, Innovation Studios is expanding the Foundations online resources with compelling content about the lives of ordinary and extraordinary residents of Virginias colonial capital. This work is critically important for teachers, students and guests who cant visit in person and sets the Foundation on a path to becoming the worlds largest online US history museum. An example of this work is the result of a partnership between the Bob and Marion Wilson Teacher Institute, the Innovation Studios team and Emmy Award-winning media production company Baker & Hill to create a series of videos and lesson plans on the subject of community for early elementary school-aged children. The videos explore 18th-century Williamsburg through an animated series of videos entitled What the Huzzah is That? Each video highlights a different facet of community through an object of everyday life a ball, a slate, a hearth, and the Market House which is located within Colonial Williamsburgs Historic Area. The videos support children learning about community membership, then and now, and everyday life in the past two topics taught in K-2 classrooms across the country.This year, the Teacher Institute reached a record 2,300 teachers in onsite, online and offsite programming. The Foundation estimates that the Teacher Institute impacted nearly 205,000 learners in 2023. Combined with other metrics developed by Colonial Williamsburg as part of a methodology to measure the Foundations educational impact, the Foundation reached nearly 20.3 million people through its mission-oriented programs and materials. The marketing team also launched a new brand strategy and creative platform called The Revolution is Here that includes a robust digital advertising campaign and onsite signage. Major preparations began in 2023 to establish Colonial Williamsburg as a national leader in planning for the upcoming 250th anniversary of Americas founding in 2026. This work falls squarely within Colonial Williamsburgs exploration of the years leading up to the American Revolution. Hosting the first of several nationwide planning sessions that will take place over the next few years, the Foundation and Virginias planning organization, VA250, welcomed delegations from more than 30 states to Williamsburg in March 2023 to discuss how to best commemorate the upcoming milestone.Internally, 2023 marked a significant investment in the Foundations staff. Early in the year, the Foundations People, Talent and Culture team implemented a job architecture and compensation program to organize and classify jobs based on the nature of work and the level at which it is performed. Additionally, it established a comprehensive performance management program that aligns goals from across the Foundation and instituted a structured annual salary increase program to reward exemplary performance. The Foundation also established an online training program to aid employees seeking professional development opportunities.2023 was a year of inspiring progress for the Foundation from moving the Bray School to the Historic Area in the first quarter to launching our transformative Power of Place fundraising campaign in the fourth. Month after month, we reached important milestones in our educational work, expanding our impact while continuing to improve our financial conditions and the wellbeing of our dedicated employees. Statement Note 1 Charitable Contributions Carryforward Schedule: 2019 Charitable Contributions Expiring 12/31/24 51,0252020 Charitable Contributions Expiring 12/31/25 113,5842021 Charitable Contributions Expiring 12/31/26 445,0002022 Charitable Contributions Expiring 12/31/27 109,5002023 Charitable Contributions Expiring 12/31/28 376,500 Amount Available for Carryforward at 12/31/22 1,095,609 Statement Note 2 Line 4: Average Acquisition DebtPrincipal Balance 1/1/2023 12/31/2023 Average College Corner 3,517,036 3,517,036 3,517,036Leased Prop 141,261,107 136,261,107 138,761,107Tax Credit 35,248,946 35,248,946 35,248,946Line 5: Average Adjusted BasisPrincipal Balance 1/1/2023 12/31/2023 AverageCollege Corner 3,370,572 3,212,352 3,291,462Leased Prop 61,835,231 60,240,637 61,037,934Tax Credit 18,543,624 17,673,753 18,108,688 Statement Note 3 Schedule A: Administrative FeeNet Operating Loss DeductionYear Original Loss Loss Utilized Loss Available12/31/2018 $164,652 $15,557 $149,09512/31/2020 12,493 0 12,49312/31/2021 148,100 0 148,100Net Operating Loss Available $309,688 Charltons Coffeehouse LLC 134 N Henry Street Williamsburg VA 23185 Property acquisition VA CWF Colonial Williamsburg Company 134 N Henry Street Williamsburg VA 23185 541254106 Hotel/Restaurant VA CWF C corp -14975358 12810361 1.00000 true Williamsburg Developments Inc 134 N Henry Street Williamsburg VA 23185 541598949 Land development VA CWC C corp -181214 5299 1.00000 true Nancy B Spillance CRUT c/o RBC Trust PO Box 15 Wilmington DE 19580 546505176 Investment DE NA Trust 13163 0.24000 false Kathryn Mae Renner CRT c/o Washington Trust Bank Spokane WA 99210 516595638 Investment CA NA Trust 287575 0.43000 false true false false true false false false false false true false true true false false false false false false Colonial Williamsburg Company a 15119536 FMV Colonial Williamsburg Company d 42910481 FMV Colonial Williamsburg Company j 170329 FMV Colonial Williamsburg Company l 8576658 FMV Colonial Williamsburg Company m 14421693 FMV Williamsburg Developments Inc a 3379 FMV Williamsburg Developments Inc d 167248 FMV Williamsburg Developments Inc l 100077 FMV