2025-10-16T13:22:20-05:00 2025-06-30 540618213 HANTZMON WIEBEL LLP PO BOX 1408 CHARLOTTESVILLE VA 22902 990 2024-07-01 311755873 JEFFERSON SCHOLARS FOUNDATION JEFF 4342439029 112 CLARKE COURT CHARLOTTESVILLE VA 22903 ROBBYN L CALLAHAN VP AND DIRECTOR OF FINANCE 4342439029 2025-10-15 1 0 MONTE J GLANZER P01301538 4342962156 2024 2025-03-06 01:10:19Z ROBBYN L CALLAHAN 112 CLARKE COURT CHARLOTTESVILLE VA 22903 49094724 0 X WWW.JEFFERSONSCHOLARS.ORG X 1998 VA THE JEFFERSON SCHOLARS FOUNDATION (FOUNDATION) PROVIDES ACADEMIC MERIT-BASED SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP SUPPORT TO STUDENTS AND FACULTY AT THE UNIVERSITY OF VIRGINIA (UVA). 29 29 24 1320 -257973 145681 32723055 36265524 0 0 842581 563355 -414270 -187197 33151366 36641682 19820294 26993115 0 0 5276389 5414686 0 0 2888117 7299336 7173341 32396019 39581142 755347 -2939460 813049948 899123680 85763302 93503377 727286646 805620303 X THE JEFFERSON SCHOLARS FOUNDATION (FOUNDATION) PROVIDES ACADEMIC MERIT-BASED SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP SUPPORT TO STUDENTS AND FACULTY AT THE UNIVERSITY OF VIRGINIA (UVA). 0 0 32601049 26993115 SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAM IN SUPPORT OF UVA.THE FOUNDATION AWARDS ACADEMIC MERIT-BASED SCHOLARSHIPS TO UNDERGRADUATES THAT COVER THE FULL ESTIMATED COST OF ATTENDING UVA FOR FOUR YEARS. THE FOUNDATION ALSO AWARDS ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO PHD AND MBA CANDIDATES AND TO NATIONAL FELLOWS. DURING FISCAL YEAR 2025, THE FOUNDATION SUPPORTED 190 UNDERGRADUTE SCHOLARS, 50 GRADUATE FELLOWS, AND 6 NATIONAL FELLOWS. THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 10 UVA PROFESSORS AND PROVIDED SUPPORT FOR 11 GRADUATE STUDENTS WORKING WITH THE PROFESSORS. THE FOUNDATION ALSO OFFERED SEVERAL MERIT- AND NEED-BASED AWARDS TO UNDERGRADUATE FINALISTS. ADDITIONALLY, THE FOUNDATION AWARDED A VARIETY OF FACULTY PRIZES ANNUALLY TO DISTINGUISHED FACULTY MEMBERS BASED ON EXCELLENCE IN TEACHING AND SCHOLARSHIP. OVERALL, THE FOUNDATION PROVIDED FINANCIAL SUPPORT TO 335 STUDENTS AND FACULTY. 32601049 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 0 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 1 55 0 24 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 29 29 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR CA IL KS KY MD MA MI MN MS NH NJ NY NC OR PA RI SC WV WI X ROBBYN L CALLAHAN 4342439029 112 CLARKE COURT CHARLOTTESVILLE VA 22903 JAMES H WRIGHT PRESIDENT/SECRETARY/TREASU 40.00 X 1073848 0 58950 HELEN M DWYER ASSISTANT SECRETARY 40.00 X 235722 0 37691 ROBBYN L CALLAHAN ASSISTANT TREASURER 40.00 X 206041 0 41997 S PATRICK INGRAM DIRECTOR OF DEVELOPMENT 40.00 X 336943 0 162621 BENJAMIN B SKIPPER DIRECTOR OF JEFFERSON SCHOLARS PROGRAM AND ALUMNI 40.00 X 256098 0 45151 LEW BURRUS DIRECTOR OF TECHNOLOGY 40.00 X 131078 0 23900 JOYCE CARMAN DIRECTOR OF COMMUNICATIONS 40.00 X 132593 0 22942 KEVIN E MURRAY DIRECTOR OF GIFT PLANNING 40.00 X 163451 0 41597 CHRISTINE E PATRICK ASSOCIATE DIRECTOR OF DEVELOPMENT 40.00 X 141088 0 25614 JAMALA MASSENBURG DIRECTOR, GRADUATE FELLOWS PROGRAM 40.00 X 203096 0 31763 WILLIAM L POLK JR CHAIRMAN OF THE BOARD 3.00 X X 0 0 0 FRANKLIN S EDMONDS JR VICE-CHAIRMAN OF THE BOARD 3.00 X X 0 0 0 KAREN CLARKE BARNES FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 SHAHNAZ BATMANGHELIDJ FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 T WESTRAY BATTLE III FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 LEONARD J BUCK II FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 STEPHEN S CRAWFORD FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 ALLISON C DINARDO FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 MERRY W DOUGHERTY FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 ROBERT W DOWNES FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 KIRKMAN FINLAY III FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 RAYNELLE DEANS GRACE FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 JENNIFER BROWN GWILLIAM FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 J DALE HARVEY II FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 TYLER S HENRITZE FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 PAUL R IZLAR FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 E COURTNEY JOHNSON FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 PETER E KAPLAN JR FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 MARK T MASSEY FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 BRUCE A MILLER FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 TIMOTHY J NAUGHTON FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 ROBERT S PITTS JR FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 ANNE W POOLE FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 LINDA G RENNER FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 JAMES E RYAN FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 DAVE STEVENS FOUNDATION BOARD OF DIRECT 2.00 X 0 0 0 DEBORAH H VALENTINE FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 MR ROBERT M WADSWORTH FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 DR SHAN WU FOUNDATION BOARD OF DIRECT 1.00 X 0 0 0 2879958 0 492226 15 0 1 0 UVA INVESTMENT MANAGEMENT COMPANY 701 E WATER STREET 4TH FLOOR CHARLOTTESVILLE VA 22902 INVESTMENT MANAGEMENT 1206387 COLLIERS INTERNATIONAL ASSET SERVICES L 150 WEST MAIN STREET SUITE 1100 NORFOLK VA 23510 BUILDING MAINTENANCE 134370 JOURNEY GROUP INC PO BOX 315 CHARLOTTESVILLE VA 22902 MARKETING & COMMUNICATION 125614 ADCS HOLDINGS LLC DBA THE CATERING OUTFI 221 CARLTON RD SUITE 8 CHARLOTTESVILLE VA 22902 EVENT CATERING 109262 COVINGTON TRAVEL SERVICE INC TOWNEBANK 6001 HARBOR VIEW BLVD SUFFOLK VA 23454 TRAVEL ARRANGEMENTS 102241 5 36265524 6284847 36265524 646044 160779 485265 1495795 1911756 -415961 -415961 -418752 2791 10458597 10541286 -82689 -82689 -82689 OTHER INCOME 900099 228764 228764 228764 36641682 0 -257973 634131 26215730 26215730 777385 777385 2972961 697345 912925 1362691 1255969 642871 383101 229997 415116 129416 127398 158302 531410 148704 109471 273235 239230 76956 73052 89222 7618 7618 50000 50000 1559838 1559838 64731 13482 38745 12504 264260 116138 78940 69182 211341 70447 70447 70447 852595 630036 84083 138476 209841 5508 4362 199971 114465 114465 1097788 840696 126390 130702 941968 721368 108450 112150 145630 145630 SCHOLAR ENRICHMENT 990966 990966 SCHOLARSHIP SELECTION 502472 502472 MISCELLANEOUS EXPENSE 71234 21529 19771 29934 TAXES AND LICENSES 57696 46392 11304 30898 30898 39581142 32601049 4091976 2888117 27187877 27998191 62430402 60227452 1097650 1135500 2600000 2600000 705155 771468 32907461 13379749 19028942 19527712 603671960 671387258 96327962 115476099 813049948 899123680 821760 803584 49434202 57064961 22500000 22500000 9769530 9610425 3237810 3524407 85763302 93503377 X 22353951 25369041 704932695 780251262 727286646 805620303 813049948 899123680 X -2939460 75438368 5834749 X X 0 1 X 1 0 X 34505149 34620144 33160494 32723055 36265524 171274366 34505149 34620144 33160494 32723055 36265524 171274366 16209669 155064697 1183302 1130259 795796 844442 646044 4599843 228764 228764 176102973 0.88050 0.87830 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2024 AMOUNT: $ 228,764. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 629213920 21665804 75022413 19379476 9398720 1559838 695564103 596099782 19173933 42861978 17042093 10155330 1724350 629213920 588543696 52132190 10954026 14523652 39613670 1392808 596099782 583081452 61753312 -30420095 12816174 11785622 1269177 588543696 393827943 20199128 190586339 11512027 9179753 840178 583081452 0.04190 0.48710 0.47100 1 0 5048576 5048576 25638409 11564399 14074010 2026454 1815350 211104 194022 194022 19527712 PUBLIC EQUITY 182843506 F LONG/SHORT EQUITY 60187243 F PRIVATE EQUITY 189140153 F REAL ASSETS 102731636 F ABSOLUTE RETURN 87322637 F FIXED INCOME 47326906 F CASH AND ACCRUALS 1835177 F 671387258 BENEFICIAL INTEREST IN TRUSTS 2468655 PERPETUAL TRUSTS 88830601 REAL ESTATE - INVESTMENTS 24176843 115476099 INTEREST RATE SWAP 1825490 OTHER LIABILITIES 1698917 3524407 X 116354961 75438368 5834749 81273117 35081844 1559838 1559838 36641682 38021304 0 38021304 1559838 1559838 39581142 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS: INVESTMENT INCOME EARNED BY THE ENDOWMENT FUNDS IS THE PRIMARY SOURCE OF OPERATIONAL REVENUE FOR THE FOUNDATION. THIS REVENUE IS USED TO SUPPORT THE SCHOLARSHIP, FELLOWSHIP AND PROFESSORSHIP PROGRAMS AND THE RELATED OPERATIONAL NEEDS OF THE FOUNDATION. PART X, LINE 2: UNCERTAIN TAX POSITIONS UNDER FIN 48: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES AS DEFINED BY SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS CONSIDERED A PUBLIC CHARITY UNDER 509(A)(1) OF THE CODE. AS SUCH, CONTRIBUTIONS TO THE FOUNDATION QUALIFY FOR DEDUCTION AS CHARITABLE CONTRIBUTIONS. THE FOUNDATION IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY UNRELATED BUSINESS INCOME. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY IF AN UNCERTAIN POSITION TAKEN, MORE LIKELY THAN NOT, WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND CONCLUDED THAT THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -98,087. CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN TRUSTS 271,904. CHANGE IN FAIR VALUE OF PERPETUAL TRUSTS 6,223,251. RESERVE FOR NOTE RECEIVABLE -543,864. WRITE OFFS OF PLEDGES RECEIVABLE -18,455. 1 EUROPE 0 0 GRANTMAKING 100246 EAST ASIA 0 0 GRANTMAKING 266961 NORTH AMERICA 0 0 GRANTMAKING 70730 SOUTH AMERICA 0 0 GRANTMAKING 147010 SOUTH ASIA 0 0 GRANTMAKING 143865 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 48573 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 FUNDRAISING 5427 0 0 0 0 0 0 782812 0 782812 FINANCIAL AID - INTERNATIONAL SCHOLARSHIP EUROPE 3 100246 FINANCIAL AID - INTERNATIONAL SCHOLARSHIP EAST ASIA 5 266961 FINANCIAL AID - INTERNATIONAL SCHOLARSHIP NORTH AMERICA 1 70730 FINANCIAL AID - INTERNATIONAL SCHOLARSHIP SOUTH AMERICA 3 147010 FINANCIAL AID - INTERNATIONAL SCHOLARSHIP SOUTH ASIA 2 143865 FINANCIAL AID - INTERNATIONAL SCHOLARSHIP RUSSIA AND NEIGHBORING STATES 1 48573 0 0 0 0 0 0 PART I, LINE 2: THE FOUNDATION AWARDS ACADEMIC MERIT-BASED SCHOLARSHIPS TO UNDERGRADUATES THAT COVER THE FULL ESTIMATED COST OF ATTENDING UVA FOR FOUR YEARS. THE FOUNDATION ALSO AWARDS ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO PHD AND MBA CANDIDATES AND TO NATIONAL FELLOWS. DURING FISCAL YEAR 2025, THE FOUNDATION SUPPORTED 190 UNDERGRADUTE SCHOLARS, 50 GRADUATE FELLOWS, AND 6 NATIONAL FELLOWS. THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 10 UVA PROFESSORS AND PROVIDED SUPPORT FOR 11 GRADUATE STUDENTS WORKING WITH THE PROFESSORS. THE FOUNDATION ALSO OFFERED SEVERAL MERIT- AND NEED-BASED AWARDS TO UNDERGRADUATE FINALISTS. ADDITIONALLY, THE FOUNDATION AWARDED A VARIETY OF FACULTY PRIZES ANNUALLY TO DISTINGUISHED FACULTY MEMBERS BASED ON EXCELLENCE IN TEACHING AND SCHOLARSHIP. SCHOLARSHIP AND FELLOWSHIP RECIPENTS WITH FOREIGN VISAS ARE REPORTED ON SCHEDULE F. 1 FINANCIAL AID - IN-STATE SCHOLARSHIPS 69 2968520 FINANCIAL AID - OUT-OF-STATE SCHOLARSHIPS 117 9447029 FINANCIAL AID - MISCELLANEOUS SCHOLARSHIPS 26 412659 FINANCIAL AID - INITIAL SCHOLARSHIPS 37 103518 FINANCIAL AID - GRADUATE FELLOWSHIPS 56 3227348 PROFESSORSHIP DISTRIBUTIONS 15 2443017 PART I, LINE 2: THE FOUNDATION AWARDS ARE USED TO FUND STUDENT TUITION AND FEES, BOOKS, ROOM AND BOARD, AND OTHER RELATED LIVING EXPENSES. THE FOUNDATION PAYS THE AWARDS DIRECTLY TO THE STUDENT. THE STUDENT IS RESPONSIBLE FOR PAYING UVA FOR THE TUITION, FEES AND, WHEN THE STUDENT LIVES ON GROUNDS, ROOM AND BOARD. OTHER EDUCATIONAL AND LIVING EXPENSES ARE COVERED BY THE REMAINDER OF THE AWARD. UPON ORIGINAL ACCEPTANCE OF THE SCHOLARSHIP, THE STUDENT AGREES TO MAINTAIN A MINIMUM GRADE POINT AVERAGE (GPA) AND TO BE FULLY INVOLVED IN THE STUDENT LIFE AND LEADERSHIP OF UVA. FINANCE TEAM MEMBERS WORK CLOSELY WITH THE UVA TO MONITOR THE PAYMENT OF TUITION AND FEES. THE DIRECTORS OF THE UNDERGRADUATE PROGRAMS MONITOR STUDENT GRADES TO DETERMINE THAT EACH STUDENT IS MAINTAINING THE GPA. A STUDENT WITH A GPA FALLING CLOSE TO THE MINIMUM STANDARD REQUIRED BY THE FOUNDATION RECEIVES A WARNING. A STUDENT WHO FAILS TO MEET THE GPA STANDARD IS SUSPENDED FROM THE PROGRAM UNTIL SUCH TIME THAT THE GPA HAS BEEN BROUGHT BACK ABOVE THE MINIMUM. STUDENT WARNINGS AND SUSPENSIONS ARE REVIEWED BY THE PROGRAM DIRECTORS WITH THE BOARD OF DIRECTORS AT EACH BOARD MEETING. SCHEDULE I, PART IV GRANTS AND ASSISTANCE THE FOUNDATION AWARDS ACADEMIC MERIT-BASED SCHOLARSHIPS TO UNDERGRADUATES THAT COVER THE FULL ESTIMATED COST OF ATTENDING UVA FOR FOUR YEARS. THE FOUNDATION ALSO AWARDS ACADEMIC MERIT-BASED, GRADUATE FELLOWSHIPS TO PHD AND MBA CANDIDATES AND TO NATIONAL FELLOWS. DURING FISCAL YEAR 2025, THE FOUNDATION SUPPORTED 190 UNDERGRADUTE SCHOLARS, 50 GRADUATE FELLOWS, AND 6 NATIONAL FELLOWS. THE FOUNDATION FUNDED, IN WHOLE OR IN PART, THE SALARIES, BENEFITS, AND OTHER RELATED COSTS OF 10 UVA PROFESSORS AND PROVIDED SUPPORT FOR 11 GRADUATE STUDENTS WORKING WITH THE PROFESSORS. THE FOUNDATION ALSO OFFERED SEVERAL MERIT- AND NEED-BASED AWARDS TO UNDERGRADUATE FINALISTS. ADDITIONALLY, THE FOUNDATION AWARDED A VARIETY OF FACULTY PRIZES ANNUALLY TO DISTINGUISHED FACULTY MEMBERS BASED ON EXCELLENCE IN TEACHING AND SCHOLARSHIP. X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 JAMES H WRIGHT PRESIDENT/SECRETARY/TREASU 633914 0 360375 0 79559 0 43125 0 15825 0 1132798 0 0 0 HELEN M DWYER ASSISTANT SECRETARY 214366 0 19918 0 1438 0 29392 0 8299 0 273413 0 0 0 ROBBYN L CALLAHAN ASSISTANT TREASURER 186825 0 18125 0 1091 0 26172 0 15825 0 248038 0 0 0 S PATRICK INGRAM DIRECTOR OF DEVELOPMENT 286374 0 29088 0 21481 0 140155 0 22466 0 499564 0 0 0 BENJAMIN B SKIPPER DIRECTOR OF JEFFERSON SCHOLARS PROGR 218914 0 22238 0 14946 0 22956 0 22195 0 301249 0 0 0 LEW BURRUS DIRECTOR OF TECHNOLOGY 129592 0 375 0 1111 0 16629 0 7271 0 154978 0 0 0 JOYCE CARMAN DIRECTOR OF COMMUNICATIONS 122908 0 375 0 9310 0 15671 0 7271 0 155535 0 0 0 KEVIN E MURRAY DIRECTOR OF GIFT PLANNING 149279 0 375 0 13797 0 19402 0 22195 0 205048 0 0 0 CHRISTINE E PATRICK ASSOCIATE DIRECTOR OF DEVELOPMENT 136639 0 375 0 4074 0 17315 0 8299 0 166702 0 0 0 JAMALA MASSENBURG DIRECTOR, GRADUATE FELLOWS PROGRAM 184670 0 17875 0 551 0 24492 0 7271 0 234859 0 0 0 PART I, LINE 1A THE JEFFERSON SCHOLARS FOUNDATION PROVIDED HEALTH CLUB DUES REIMBURSEMENT TO JAMES H. WRIGHT, S. PATRICK INGRAM, KEVIN E. MURRAY, BENJAMIN B. SKIPPER, AND CHRISTINE E. PATRICK. THIS BENEFIT WAS PROVIDED TO ENHANCE THEIR BENEFIT PACKAGES AND ASSIST IN EMPLOYEE RETENTION. PART I, LINE 4B THE FOUNDATION PROVIDED A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN TO S. PATRICK INGRAM. THE AMOUNT PAID INTO THE PLAN WAS $105,000. A ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CHARLOTTESVILLE VA 521297503 02166PAC5 2017-10-01 22500000 SEE SCHEDULE K, PART VI 0 0 0 A 22500000 22500000 2017 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 1 TRUIST BANK 30.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CHARLOTTESVILLE, DATE THE REBATE COMPUTATION WAS PERFORMED: 08/16/2019 SCHEDULE K, PART I, (F) DESCRIPTION OF PURPOSE THE $22,500,000 IN BOND PROCEEDS WERE USED TO REFUND THE 2007 AND 2010 BOND ISSUES. THE ORIGINAL BOND ISSUES WERE FOR PROPERTY ACQUISITION AND THE CONSTRUCTION OF THE JEFFERSON FELLOWS CENTER AND THE ADJOINING FOUNDATION ADMINISTRATIVE OFFICES. JAMES WRIGHT PRES SEE PT V X 340650 1135500 0 1 1 1135500 SCHEDULE L, PART II, (C) PURPOSE OF LOANTHE FOUNDATION MAINTAINS A SPLIT-DOLLAR LIFE INSURANCE POLICY FOR THE BENEFIT OF THE PRESIDENT. ON JANUARY 1, 2004, THIS POLICY WAS CONVERTED TO A LOAN SUBSEQUENT TO IRS NOTICE 2002-8.THE LOAN IS COMPRISED OF THE LIFE INSURANCE POLICY PREMIUMS PAID BY THE FOUNDATION. AS OF JUNE 30, 2025, THE LOAN HAD A $1,135,500 OUTSTANDING BALANCE WITH LOAN REPAYMENT SECURED BY A COLLATERAL ASSIGNMENT. X 31 6284847 MEAN VALUE 0 0 1 1 PART I, COLUMN (B): THE FOUNDATION IS REPORTING THE NUMBER OF STOCK CONTRIBUTIONS. EACH CONTRIBUTION COULD INCLUDE MULTIPLE SHARES OF STOCK. PART I, LINE 32B: THE FOUNDATION HAS ITS OWN SECURITIES BROKERAGE ACCOUNT THAT IS USED TO RECEIVE AND SELL DONATED SECURITIES. THE FOUNDATION ALSO USES UVA ADVANCEMENT SERVICES AND ITS SECURITIES BROKER TO RECEIVE AND SELL DONATED SECURITIES. FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR, THE BOARD APPROVED AMENDMENTS TO THE FOUNDATION'S BYLAWS AND ARTICLES OF INCORPORATION. THE AMENDMENTS UPDATED THE COMPOSITION OF THE BOARD OF DIRECTORS TO BETTER REFLECT THE ORGANIZATION'S GOVERNANCE NEEDS, AND ESTABLISHED PERMISSIBLE ACTIONS THAT MAY BE TAKEN BY THE BOARD WHEN FEWER THAN THE FULL BOARD IS PRESENT, ENSURING CLARITY AROUND DECISION-MAKING AUTHORITY AND QUORUM REQUIREMENTS FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDATION'S BOARD OF DIRECTORS (BOARD) INCLUDES TWO EX-OFFICIO POSITIONS: A DESIGNEE BY THE BOARD OF VISITORS OF UVA IN CONSULTATION WITH THE FOUNDATION'S BOARD CHAIR AND A DESIGNEE BY THE PRESIDENT OF UVA, ALSO IN CONSULTATION WITH THE FOUNDATION'S BOARD CHAIR. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S INDEPENDENT AUDITORS PREPARED THE FORM 990 FROM INFORMATION PROVIDED BY THE FOUNDATION'S FINANCE TEAM. THE DIRECTOR OF FINANCE REVIEWS THE FORM 990 AND ACKNOWLEDGES RESPONSIBILITY FOR THE COMPLETENESS AND ACCURACY OF THE INFORMATIONAL TAX RETURN. UPON COMPLETION OF THE REVIEW, THE RETURN IS DISTRIBUTED TO MEMBERS OF THE BOARD'S AUDIT COMMITTEE FOR REVIEW AND APPROVAL. AFTER APPROVAL, THE RETURN IS MADE AVAILABLE TO ALL THE BOARD MEMBERS AND THEN FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT COMPLIANCE: A CONFLICT OF INTEREST DISCLOSURE STATEMENT IS DISTRIBUTED ANNUALLY. THE FOUNDATION MONITORS THE RETURN OF THE DISCLOSURE STATEMENTS AND FOLLOWS UP ACCORDINGLY. THE FOUNDATION REQUIRES EACH DIRECTOR AND EMPLOYEE TO DISCLOSE CONFLICTS OF INTERESTS AS THEY ARISE. THE DISCLOSURE STATEMENTS ARE REVIEWED BY THE DIRECTOR OF FINANCE FOR SITUATIONS REQUIRING DISCLOSURE TO, AND APPROVAL BY, THE BOARD OF DIRECTORS. THE CONFLICT OF INTEREST TRANSACTION MUST BE APPROVED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE DIRECTORS ON THE BOARD OF DIRECTORS WHO HAVE NO DIRECT OR INDIRECT PERSONAL INTEREST IN THE TRANSACTION. FINANCE TEAM MEMBERS MONITOR THE FOUNDATION'S BUSINESS DEALINGS TO IDENTIFY, WHEN POSSIBLE, A POTENTIAL CONFLICT OF INTEREST. ANY IDENTIFIED POTENTIAL CONFLICT OF INTEREST WOULD BE BROUGHT TO MANAGEMENT'S ATTENTION FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION EMPLOYS ITS PRESIDENT UNDER THE TERMS OF A FOUR-YEAR EMPLOYMENT AGREEMENT. THE CONTRACT TERMS AND COMPENSATION WERE ESTABLISHED BY THE BOARD OF DIRECTORS USING COMPARABLE DATA, A COMPENSATION CONSULTANT, AND AN EMPLOYEE BENEFITS ATTORNEY. COMPENSATION IS REVIEWED ANNUALLY. THE BOARD DOCUMENTED THIS EMPLOYMENT DECISION THROUGH THE TERMS OF THE EMPLOYMENT AGREEMENT. FORM 990, PART VI, SECTION B, LINE 15B: THE FOUNDATION'S DIRECTOR OF BUSINESS PLANNING AND OPERATIONS CONDUCTS AN ANNUAL COMPENSATION REVIEW USING COMPARABLE COMPENSATION INFORMATION PERTAINING TO THE EMPLOYMENT RESPONSIBILITIES AND EXPERIENCE LEVELS OF ALL FOUNDATION STAFF. THIS COMPENSATION INFORMATION IS SHARED WITH THE FOUNDATION'S PRESIDENT FOR INPUT INTO THE REVIEW AND EVALUATION OF THE STAFF COMPENSATION. FORM 990, PART VI, SECTION C, LINE 18 THE FOUNDATION'S FORM 990 AND FORM 990-T ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNANCE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC. THE FOUNDATION'S CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -98,087. CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN TRUSTS 271,904. CHANGE IN FAIR VALUE OF PERPETUAL TRUSTS 6,223,251. RESERVE FOR NOTE RECEIVABLE -543,864. WRITE-OFFS OF PLEDGES RECEIVABLE -18,455. FORM 990, PART XII, LINE 2C: NO CHANGES WERE MADE TO THE AUDIT OVERSIGHT OR INDEPENDENT ACCOUNTANT SELECTION PROCESSES DURING THE FISCAL YEAR. CLARKE COURT APARTMENTS LLC 112 CLARKE COURT CHARLOTTESVILLE VA 22903 452741718 RENTAL PROPERTY OWNERSHIP VA 315564 295289 JEFFERSON SCHOLARS FOUNDATION CLARKE COURT REAL ESTATE HOLDINGS LLC 112 CLARKE COURT CHARLOTTESVILLE VA 22903 862192565 REAL ESTATE HOLDING VA 0 459743 JEFFERSON SCHOLARS FOUNDATION CROSSROADS OF CHARLOTTESVILLE LLC 112 CLARKE COURT CHARLOTTESVILLE VA 22903 921200374 RENTAL PROPERTY OWNERSHIP VA 1180231 10234362 JEFFERSON SCHOLARS FOUNDATION MAURY HOLDINGS LLC 112 CLARKE COURT CHARLOTTESVILLE VA 22903 873306982 REAL ESTATE HOLDING VA 0 4265594 JEFFERSON SCHOLARS FOUNDATION CHARITABLE REMAINDER UNITRUSTS (6) TRUST VA JSF 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0