2026-05-15T14:36:39+00:00 2025-06-30 350921680 CROWE LLP 401 East Las Olas Blvd Suite 1100 Fort Lauderdale FL 333014230 990 2024-07-01 843505125 1693 Partners Fund 1693 7572211906 5300 Discovery Park Blvd 3RD FLOOR Williamsburg VA 231882695 F BRIAN HIESTAND CHIEF INVESTMENT OFFICER 2026-05-15 true Brittney Kocaj P01320603 9542028600 2026-05-15 2024 2025-03-06 01:10:19Z F BRIAN HIESTAND 5300 Discovery Park Blvd 3RD FLOOR Williamsburg VA 231882695 402745469 false X NONE X 2019 VA INVEST ENDOWMENT ASSETS SUPPORTING WILLIAM & MARY AND ITS AFFILATED ORGANIZATIONS. 12 12 0 15 1224222 236941 0 0 24313185 54028432 25993086 102399022 0 0 50306271 156427454 0 0 0 0 0 0 0 0 56977597 61188386 56977597 61188386 -6671326 95239068 1095224673 1215423011 1538082 151110 1093686591 1215271901 The 1693 Partners Fund is dedicated to stewarding and growing endowment assets in support of William & Mary and its affiliated organizations. false false 61188386 54028432 The 1693 Partners Fund is dedicated to stewarding and growing endowment assets in support of William & Mary and its affiliated organizations. With a long-term focus, the Fund seeks to generate strong, risk-adjusted returns while preserving equity and advancing the university's mission. The Fund employs a disciplined, diversified investment approach to enhance returns, manage risk, and provide reliable funding for scholarships, faculty support, research, and other institutional priorities. Operating within a robust governance framework, the 1693 Partners Fund emphasizes transparency, accountability, and rigorous investment oversight. 61188386 true false false false false false false false false true false true false false false true true true false false true false false false false false false false false true false false false false false false false false false false false false false false false true false false false false true X 7 0 true 0 true true true HK KS UK BR CA DA false false false false false false false false false false X 12 12 false false false false true true false true true false false false true true true true true true false false false false X Christine Gionis 7572211906 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 ELIZABETH CABELL JENNINGS CHAIR/TRUSTEE 1.0 1.0 X X 0 0 0 JAMES E MALLORY VICE CHAIR/TRUSTEE 1.0 1.0 X X 0 0 0 A Clayton Perfall TRUSTEE 1.0 1.0 X 0 0 0 ANDREW W HORROCKS TRUSTEE 1.0 1.5 X 0 0 0 DARPAN SUBHASH KAPADIA TRUSTEE 1.0 1.0 X 0 0 0 DAVID R COVIN TRUSTEE 1.0 1.0 X 0 0 0 EUGENE P FOLEY TRUSTEE 1.0 1.0 X 0 0 0 J SCOTT PERKINS TRUSTEE (TERM ENDED 10/24) 1.0 1.0 X 0 0 0 JANET R ATWATER TRUSTEE 1.0 1.5 X 0 0 0 JODY W FORSYTH TRUSTEE (TERM ENDED 10/24) 1.0 1.5 X 0 0 0 JOH HYMAN TRUSTEE (TERM BEGAN 10/24) 1.0 0.0 X 0 0 0 JOHN COLE SCOTT TRUSTEE (TERM BEGAN 10/24) 1.0 0.0 X 0 0 0 John Fernando TRUSTEE 1.0 0.0 X 0 0 0 KARIM HK AHAMED TRUSTEE (TERM ENDED 10/24) 1.0 1.0 X 0 0 0 MICHAEL C PETTERS TRUSTEE 1.0 1.0 X 0 0 0 CATHERINE MOUNTJOY CHIEF OPERATING OFFICER 40.0 5.0 X 0 427250 50198 F BRIAN HIESTAND CHIEF INVESTMENT OFFICER 40.0 10.0 X 0 664032 70740 0 1091282 120938 0 false true false 1693 Management Company LLC 5300 Discovery Park Boulevard Williamsburg VA 231882695 Professional Services 3077768 William Blair & Company LLC 150 North Riverside Plaza Chicago IL 60606 Professional Services 356060 Vulcan Value Partners LLC Three Protective CTR 2801 HWY 280 South Suite 300 Birmingham AL 35223 Professional Services 297271 Neuberger Berman Investment Advisers LLC 1290 Avenue of the Americas New York NY 10104 Professional Services 128080 Deloitte & Touche LLP 4022 Sells Drive Hermitage TN 370762903 ACCOUNTING SERVICES 109624 5 0 Member contributions 525920 54028432 54028432 0 0 0 0 54028432 16270402 1224222 15046180 0 0 332446635 246318015 86128620 0 86128620 86128620 0 0 0 0 0 156427454 54028432 1224222 101174800 28120 28120 123350 123350 5334728 5334728 314183 314183 0 0 Member withdrawals 55226779 55226779 Foreign taxes withheld 165281 165281 LINE OF CREDIT FEES 31667 31667 Foreign Exchange Charges & Tax Expense -35722 -35722 0 0 0 0 61188386 61188386 0 0 772123 36713 45292185 67761517 2005065 1364403 0 0 0 0 0 0 0 0 318101903 248496868 729053397 897763510 0 0 0 1095224673 1215423011 1538082 151110 0 0 0 0 1538082 151110 X 1093686591 1215271901 1093686591 1215271901 1095224673 1215423011 95239068 26346242 0 X false true true false X X X 6 WILLIAM & MARY FOUNDATION 540734117 5 true 41722631 0 MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION 541224563 5 true 3387852 0 WILLIAM AND MARY BUSINESS SCHOOL FOUNDATION 237079011 5 true 3835155 0 MURRAY 1693 SCHOLARS FOUNDATION 464365190 5 true 856800 0 WILLIAM & MARY 546001718 2 true 5424341 0 WILLIAM & MARY ALUMNI ASSOCIATION 546054289 7 true 0 0 6 55226779 0 false true false false true true false false false false false false false false false false true false Schedule A, Part IV, Section A, Line 1 Supported Orgs Listed By Name THE ORGANIZATION'S ARTICLES OF INCORPORATION DESIGNATE BY NAME THE FOLLOWING SUPPORTING ORGANIZATIONS: WILLIAM & MARY FOUNDATION, MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION, WILLIAM AND MARY BUSINESS SCHOOL FOUNDATION AND WILLIAM & MARY. MURRAY 1693 SCHOLARS FOUNDATION AND WILLIAM & MARY ALUMNI ASSOCIATION ARE DESIGNATED BY PURPOSE IN ARTICLE 2 OF THE ORGANIZATION'S ARTICLES OF INCORPORATION AS TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE CODE THAT PRIMARILY BENEFIT OR SUPPORT WILLIAM & MARY. Schedule A, Part IV, Section A, Line 2 Supported Org. Without IRS Status 509(a)1 or (2) MURRAY 1693 SCHOLARS FOUNDATION IS A TYPE I SUPPORTING ORGANIZATION PURSUANT TO SECTION 509(A)(3) WHOSE PURPOSE IS TO SUPPORT THE WILLIAM & MARY 1693 SCHOLARS PROGRAM IN ORDER TO PROVIDE SCHOLARSHIP FUNDING FOR STUDENTS OF WILLIAM & MARY (THE UNIVERSITY). IN FULFILLMENT OF THIS PURPOSE, MURRAY 1693 SCHOLARS FOUNDATION IS A SUPPORTING ORGANIZATION OF WILLIAM & MARY FOUNDATION AND THE UNIVERSITY. SUPPORT OF A UNIVERSITY IS GENERALLY RESERVED FOR ORGANIZATIONS DESCRIBED UNDER SECTION 509(A)(1) AND 170(B)(1)(A)(IV). WILLIAM & MARY ENDOWMENTS IS PART OF WILLIAM AND MARY, WHICH IS A PUBLIC UNIVERSITY EXEMPT UNDER SECTION 170(C)(1). Schedule A, Part IV, Section A, Line 5a Added, Substituted, or Removed Sup. Org. The Organization added William & Mary Alumni Association (EIN: 54-6054289) as a supported organization on July 1, 2024 to continue the Organization's mission of investing endowment assets supporting William & Mary and its affiliated organizations. William & Mary Alumni Association is a section 501(c)(3) affiliated organization of William & Mary. The primary mission of William & Mary Alumni Association is to support William & Mary and its alumni. Article 2 of the Organization's articles of incorporation designate additional supporting organizations by purpose tax-exempt organizations under section 501(c)(3) of the code that primarily benefit or support William & Mary. 1093686591 54028433 128579982 55226779 5796326 1215271901 1029214277 24313185 97016239 51466424 5390686 1093686591 898846341 106097121 70840886 41712942 4857129 1029214277 942675330 26199258 -30736319 33630693 5661235 898846341 0 861829700 100191848 17031565 2314653 942675330 0.0 1.0 0.0 false false Closely-held equity interests Financial derivatives Diversifying Strategies 126743189 F Domestic Equity 194968359 F Fixed Income 35739511 F Foreign Equity 232187830 F Private Equity 225142458 F Real Assets 82637103 F Transitional Trading 345060 F 897763510 0 X 128579983 26346242 -165281 26180961 102399022 54028432 54028432 156427454 5796326 0 0 5796326 55392060 55392060 61188386 Schedule D, Part V, Line 4 Intended uses of endowment funds THE 1693 PARTNERS FUND IS A POOLED VEHICLE TO INVEST THE ENDOWMENT ASSETS SUPPORTING WILLIAM & MARY AND ITS AFFILIATED ORGANIZATIONS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote On April 20, 2020, the Internal Revenue Service determined that the Fund was exempt from federal income tax on income derived from activities related to its exempt purpose under Internal Revenue Code (IRC) Section 501(c)(3). Additionally, the Fund is classified as a public charity under IRC Section 509(a)(3). However, the Fund may incur federal and state income taxes on unrelated business income. No provision for income taxes was required for the fiscal years ended June 30, 2025 and 2024. The Fund follows the provisions of FASB ASC Topic 740, Income Taxes (ASC 740), related to accounting for uncertainty in income taxes. ASC 740 prescribes the minimum recognition threshold a tax position must meet in connection with accounting for uncertainties in income tax positions taken or expected to be taken by an entity before being measured and recognized in the financial statements. ASC 740 requires the evaluation of tax positions that are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current year. Management has analyzed the tax positions taken by the Fund and has concluded that, as of June 30, 2025 and 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition or disclosure in the financial statements. As of June 30, 2024, the Fund had net operating losses available for carryforward in the amount of $2,754,085 as a result of unrelated business taxable income (UBTI) resulting from its partnership investments. UBTI is taxed at the prevailing corporate tax rate. Due to the uncertainty about whether these losses will result in a tax asset, no tax asset is recorded in the financial statements. Net operating losses arising in tax years ending after December 31, 2017, have an indefinite carryforward period. Additionally, 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, 2025 return is May 15, 2026. The Fund may be subject to routine audits by taxing jurisdictions. In addition to the year ended June 30, 2025, the fiscal years ended June 30, 2024, 2023 and 2022 are open to examination. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 FOREIGN TAXES WITHHELD - -165281 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements MEMBER CONTRIBUTIONS - 54028432 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements FOREIGN TAXES WITHHELD - 165281 MEMBER WITHDRAWALS - 55226779 Central America and the Caribbean 0 0 Investments 120937803 East Asia and the Pacific 0 0 Investments 12043605 Europe (Including Iceland and Greenland) 0 0 Investments 53272640 South Asia 0 0 Investments 714340 North America (Canada & Mexico only) 0 0 Investments 5147101 South America 0 0 Investments 555163 0 0 0 0 0 0 192670652 0 192670652 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual false false false false false false false false false CATHERINE MOUNTJOY CHIEF OPERATING OFFICER 0 258067 0 168339 0 844 0 22453 0 27745 0 477448 0 0 F BRIAN HIESTAND CHIEF INVESTMENT OFFICER 0 350628 0 311567 0 1837 0 36360 0 34380 0 734772 0 0 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), THE CONTROLLING ORGANIZATION OF 1693 PARTNERS FUND (THE ORGANIZATION). THE UNIVERSITY AND THE FOUNDATION ARE NOT RELATED ENTITIES AND THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE SALARY AND BENEFIT COSTS FOR FOUNDATION EMPLOYEES FOR SERVICES PERFORMED EXCLUSIVELY FOR THE FOUNDATION AND ITS CONTROLLED ORGANIZATIONS. COMPENSATION IS GENERALLY ESTABLISHED WITHIN THE GUIDELINES OF THE UNIVERSITY, INCLUDING COMPARABLE MARKET DATA AS APPROPRIATE. COMPENSATION FOR THE CHIEF INVESTMENT OFFICER IS DETERMINED IN PART BY THE BOARD OF MANAGERS OF 1693 MANAGEMENT COMPANY LLC (THE INVESTMENT MANAGER OF THE FUND - A WHOLLY OWNED SUBSIDIARY OF W&M FOUNDATION), WHICH CONSIDERED A SURVEY OF COMPENSATION OF INDIVIDUALS IN SIMILAR POSITIONS AT COMPARABLE ORGANIZATIONS. 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. 1693 MANAGEMENT COMPANY LLC (THE INVESTMENT MANAGER OF THE FUND - A WHOLLY OWNED SUBSIDIARY OF W&M FOUNDATION), REIMBURSES THE UNIVERSITY FOR ALL COMPENSATION COSTS OF THE ORGANIZATION, WHICH ARE PAID BY 1693 PARTNERS FUND FOR ALL OR A PORTION OF THE COMPENSATION FOR THESE INDIVIDUALS BASED ON THE INVESTMENT MANAGEMENT AGREEMENT BETWEEN 1693 PARTNERS FUND AND 1693 MANAGEMENT COMPANY. Form 990, Part VI, Line 6 Classes of members or stockholders The Members of the Fund are composed of William & Mary Foundation ("W&M Foundation"), Marshall-Wythe School of Law Foundation, William & Mary Business School Foundation, Murray 1693 Scholars Foundation, William & Mary Alumni Association, and William & Mary Endowments. The member organizations (with the exception of Murray 1693 Scholarship Foundation and William & Mary Alumni Association) appoint the Board of Trustees of the Fund for a three year term of service. A majority of the Trustees are appointed by W&M Foundation. Assets upon dissolution of the Fund are distributed to the members in proportion to their respective depository account balances and any remaining property is distributed equally among the members or such other tax-exempt organizations under Section 501(c)(3) of the IRC as determined by the Board. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The Members of the Fund are composed of William & Mary Foundation ("W&M Foundation"), Marshall-Wythe School of Law Foundation, William & Mary Business School Foundation, Murray 1693 Scholars Foundation, William & Mary Alumni Association, and William & Mary Endowments, each of which is qualified as a tax-exempt organization under Section 501(c)(3) of the IRC. The member organizations (with the exception of Murray 1693 Scholarship Foundation and William & Mary Alumni Association) appoint the Board of Trustees of the Fund for a three year term of service. A majority of the Trustees are appointed by W&M Foundation. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FUND PROVIDED A COPY OF FORM 990 TO THE GOVERNING BODY BEFORE IT WAS FILED. PRIOR TO FILING FORM 990, THE CHIEF INVESTMENT OFFICER AND CHIEF OPERATING OFFICER REVIEW A DRAFT OF THE FORM. THE CHIEF INVESTMENT OFFICER AND CHIEF OPERATING OFFICER REVIEW THE FINAL VERSION PRIOR TO SIGNING. 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 1693 PARTNERS FUND DOES NOT MAKE ITS SEPARATE, INDEPENDENT FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. ANY SUCH REQUESTS WOULD BE CONSIDERED ON A CASE BY CASE BASIS. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE GENERALLY NOT AVAILABLE TO THE PUBLIC. PART VI, SECTION B, LINE 15 AND PART V, LINE 1B PROCESS FOR DETERMINING COMPENSATION WILLIAM & MARY (THE UNIVERSITY) IS THE COMMON PAYMASTER FOR EMPLOYEES OF WILLIAM & MARY FOUNDATION (THE FOUNDATION), THE CONTROLLING ORGANIZATION OF 1693 PARTNERS FUND (THE ORGANIZATION). THE UNIVERSITY AND THE FOUNDATION ARE NOT RELATED ENTITIES; THUS, THE ORGANIZATION REIMBURSES THE UNIVERSITY FOR THE SALARY AND BENEFIT COSTS FOR FOUNDATION EMPLOYEES FOR SERVICES PERFORMED EXCLUSIVELY FOR THE FOUNDATION AND CONTROLLED ORGANIZATIONS. COMPENSATION IS GENERALLY ESTABLISHED WITHIN THE GUIDELINES OF THE UNIVERSITY, INCLUDING COMPARABLE MARKET DATA AS APPROPRIATE. COMPENSATION FOR THE CHIEF INVESTMENT OFFICER AND CHIEF OPERATING OFFICER IS DETERMINED IN PART BY THE BOARD OF MANAGERS OF 1693 MANAGEMENT COMPANY LLC (THE INVESTMENT MANAGER OF THE FUND - A WHOLLY OWNED SUBSIDIARY OF W&M FOUNDATION), WHICH CONSIDERED A SURVEY OF COMPENSATION OF INDIVIDUALS IN SIMILAR POSITIONS AT COMPARABLE ORGANIZATIONS. WILLIAM & MARY FOUNDATION 5300 DISCOVERY PARK BLVD 3RD FLOOR WILLIAMSBURG VA 23188 540734117 ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY VA 501(c)(3) 5 false MARSHALL-WYTHE SCHOOL OF LAW FOUNDATION 613 SOUTH HENRY STREET WILLIAMSBURG VA 23185 541224563 ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY VA 501(c)(3) 5 false WILLIAM & MARY BUSINESS SCHOOL FOUNDATION 101 UKROP WAY WILLIAMSBURG VA 23185 237079011 ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY VA 501(c)(3) 5 false MURRAY 1693 SCHOLARS FOUNDATION PO BOX 8795 WILLIAMSBURG VA 231878795 464365190 ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY VA 501(c)(3) 5 WILLIAM & MARY FOUNDATION 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 WILLIAM & MARY PO BOX 8795 WILLIAMSBURG VA 231878795 546001718 A PUBLIC UNIVERSITY EXEMPT UNDER SECTION 170(C)(1) VA 501(c)(1) false WILLIAM & MARY ALUMNI ASSOCIATION PO BOX 2100 WILLIAMSBURG VA 23187 546054289 ORGANIZATION OPERATED FOR THE BENEFIT OF WILLIAM & MARY VA 501(c)(3) 7 false RELIANCE HOLDINGS LLC INVESTMENTS ADMINISTRATION 5300 DISCOVERY PARK BOULEVARD WILLIAMSBURG VA 231882695 541995402 HOLD MEMBERSHIP INTEREST IN NEW TOWN ASSOCIATES LLC VA WILLIAM & MARY FOUNDATION C Corporation false false false false false false false false false false false false true true true true true false true true