William & Mary Foundation
90% goes to programs $4 to raise $100 Strong reserves Growing revenue
William & Mary Foundation is a 501(c)(3) organization based in Williamsburg, Virginia, registered in 1940, with $161,638,025 in FY2023 revenue. CharityIndex grades it A, and it directs about 90% of spending to programs.
5300 Discovery Park Blvd 3rd Floor, Williamsburg, VA, 23188 EIN 54-0734117 Since 1940
Revenue (FY2023)
$161.6M
▲ 293.7% vs prior year
Education median: $200K
Expenses (FY2023)
$72.6M
Net assets
$1.3B
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating90% to programs · $4 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For William & Mary Foundation: 90% to programs · $4 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating208 mo reserves · +55% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For William & Mary Foundation: 208 mo reserves · +55% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For William & Mary Foundation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For William & Mary Foundation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To aid, strengthen and expand, in every proper and useful way, the work of william & mary, a public university in virginia.
What they do
The foundation provides financial aid for students of william & mary.
The foundation provides support for other related organizations. additional details can be found in part ix and schedule i.
Rent revenue from rent of buildings to william & mary.
Contact & location
- Address
- 5300 Discovery Park Blvd 3rd Floor, Williamsburg, VA, 23188
- City
- Williamsburg
- State
- Virginia
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $48.3M (FY2013) to $161.6M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $36.2MNet assets $1.3B
Operating margin
55.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.3B
Total liabilities
$36.2M
Net assets
$1.3B
Salaries & benefits
$0
0% of expenses
Board members
36
36 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $161,638,025▲294% | $72,625,450▲38.1% | $1,257,938,769▲14.3% | $1,294,159,126▲14.1% | 990 |
| 2022 | $41,051,162▼59.2% | $52,596,974▲24.4% | $1,100,313,729▲2.7% | $1,134,029,696▲2.9% | 990 |
| 2021 | $100,704,101▲26.9% | $42,267,429▲8.3% | $1,071,260,891▼1.4% | $1,102,294,415▼1.8% | 990 |
| 2020 | $79,373,462▼10.5% | $39,031,296▼20.8% | $1,086,827,353▲29.3% | $1,122,551,962▲29.2% | 990 |
| 2019 | $88,636,871▲6.2% | $49,308,062▲18.6% | $840,372,104▲0.2% | $868,886,184 | 990 |
| 2018 | $83,490,525▲0.1% | $41,566,200▲32.6% | $838,906,363▲7.9% | $868,970,215▲7.8% | 990 |
| 2017 | $83,416,784▼13.5% | $31,349,921▼17.9% | $777,189,367▲7.6% | $806,248,130▲7.4% | 990 |
| 2016 | $96,448,406▲154% | $38,169,638▼11.1% | $722,002,350▲8.8% | $750,596,771▲8.6% | 990 |
| 2015 | $37,904,099▼14.6% | $42,950,088▲34.3% | $663,585,258▼2.5% | $691,108,828▼2.6% | 990 |
| 2014 | $44,373,713▼8.2% | $31,975,162▲35.1% | $680,628,021▲0.4% | $709,555,456▲0.3% | 990 |
| 2013 | $48,326,021 | $23,673,869▲15.0% | $677,656,848▲12.8% | $707,525,133▲12.5% | 990 |
| 2012 | — | $20,577,193▲3.8% | $600,767,991▲16.3% | $628,980,542▲15.6% | 990 |
| 2011 | — | $19,824,482▼33.3% | $516,490,680▲2.9% | $544,308,092▲2.7% | 990 |
| 2010 | — | $29,721,974▲34.5% | $502,161,055▲14.6% | $529,852,378▲13.8% | 990 |
| 2009 | — | $22,096,159 | $438,279,910 | $465,677,735 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: F Brian Hiestand — $384,314 (0.53% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| F Brian Hiestand | Chief Investment Officer, 1693 Partners Fund | 10 | $384,314 |
| Catherine Mountjoy | Chief Operating Officer, 1693 Partners Fund | 5 | $315,856 |
| Matthew T Lambert | Chief Executive Officer | 30 | $257,228 |
| Bruce G Aird | Chief Financial Officer and Treasurer | 48 | $129,582 |
| Julie S Leach | Executive Director | 32 | $96,681 |
| A Clayton Perfall | Trustee (term Began 10/23) | 1 | — |
| Andrew W Horrocks | Trustee | 1 | — |
| Chet M Thaker | Trustee | 1 | — |
| Christine Marie Villa | Trustee | 1 | — |
| Clifford B Fleet III | Trustee | 1 | — |
| Darpan S Kapadia | Trustee/vice Chairperson For Development Strategy | 1 | — |
| David N Kelley | Trustee | 1 | — |
| David R Covin | Trustee | 1 | — |
| Dawn M Aaron | Trustee | 1 | — |
| Dr Stephen S Tang | Trustee | 1 | — |
| Elizabeth Cabell Jennings | Trustee/vice Chairperson For Investments | 1 | — |
| Eugene P Foley Jr | Trustee | 1 | — |
| Frances C Engoron | Trustee | 1 | — |
| Hilary Grant Dixon | Trustee | 1 | — |
| Hylah B Ballowe | Trustee | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Zuri Group LLC | Technology Services | $500,306 |
| Cambridge Associates LLC | Investment Advisory Services | $412,500 |
| Mcguirewoods LLP | Legal Services | $210,801 |
| The Burgiss Group LLC | Technology Services | $183,783 |
| Arnold & Porter Kaye Scholar LLP | Legal Services | $180,000 |
Grants received · $95.5M total
228 grants to William & Mary Foundation totaling $95.5M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Grants made · $60.7M in FY2023
26 grants totaling $60.7M in FY2023 — showing the 15 largest. All grants made by William & Mary Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| William & Mary | Center for the visual arts | $15,860,686 |
| William & Mary | Scholarships | $13,145,100 |
| William & Mary | Other - general support | $5,547,002 |
| William & Mary | Advancement funding | $4,030,927 |
| William & Mary | Athletic complex fund | $3,800,473 |
| William & Mary | Professorships | $3,234,360 |
| William & Mary | Intercollegiate athletics | $2,289,783 |
| William & Mary | Soccer/lacrosse practice fields | $1,952,252 |
| William & Mary | University strategic priorities | $1,542,452 |
| William & Mary | Institute, integrative conserve fund | $1,492,798 |
| William & Mary | Library enhancements, support and administration | $1,256,525 |
| William & Mary | Camp launch program | $1,221,149 |
| William and Mary Real Estatefoundation | General support | $959,932 |
| William & Mary | W & m vet program | $897,082 |
| William & Mary | Gates hall renovation & expansion | $882,995 |
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Frequently asked questions
- Is William & Mary Foundation a legitimate nonprofit?
- Yes. William & Mary Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 54-0734117, based in Williamsburg, Virginia. Donations are tax-deductible.
- What is William & Mary Foundation's EIN?
- William & Mary Foundation's Employer Identification Number (EIN) is 54-0734117.
- How much revenue does William & Mary Foundation report?
- William & Mary Foundation reported $161,638,025 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of William & Mary Foundation's spending goes to programs?
- William & Mary Foundation spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does William & Mary Foundation have?
- CharityIndex grades William & Mary Foundation A, based on program efficiency and fundraising cost.
- How much does William & Mary Foundation's highest-paid employee make?
- The highest reported compensation on William & Mary Foundation's latest Form 990 is $384,314, paid to F Brian Hiestand (Chief Investment Officer, 1693 Partners Fund).
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Data for William & Mary Foundation (EIN 54-0734117) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.