Civic Intelligence

William & Mary Business School

EIN 23-7079011 • 501(c)3 • Williamsburg, VA

Profile

To provide support for the expansion and the improvement of public institutions of higher learning; specifically for the college of william and mary raymond a. Mason school of business.

PO Box 2220Williamsburg, VA 23187

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

7th percentile

0.01x

Higher debt load relative to revenue than 7% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

84th percentile

32%

Higher net margin than 84% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

7th percentile

$131,182

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

64th percentile

9.3%

Faster asset growth than 64% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

21st percentile

-3.1%

Faster revenue growth than 21% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$101,508,365

Up $7,971,147 (+8.5%) from 2021

Liabilities

Up

$300,873

Up $170,275 (+130%) from 2021

Net Assets

Up

$101,207,492

Up $7,800,872 (+8.4%) from 2021

Revenue

Up

$25,949,773

Up $16,416,506 (+172%) from 2021

Expenses

Up

$6,740,718

Up $1,001,855 (+17%) from 2021

Net Income

Up

$19,209,055

Up $15,414,651 (+406%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2012: $45,735,241Liabilities 2012: $331,597Net Assets 2012: $45,403,6442012Assets 2013: $45,319,345Liabilities 2013: $668,601Net Assets 2013: $44,650,7442013Assets 2016: $47,186,955Liabilities 2016: $206,254Net Assets 2016: $46,980,7012016Assets 2017: $54,443,348Liabilities 2017: $412,600Net Assets 2017: $54,030,7482017Assets 2018: $68,662,707Liabilities 2018: $63,449Net Assets 2018: $68,599,2582018Assets 2019: $73,508,506Liabilities 2019: $363,022Net Assets 2019: $73,145,4842019Assets 2020: $75,937,920Liabilities 2020: $100,129Net Assets 2020: $75,837,7912020Assets 2021: $93,537,218Liabilities 2021: $130,598Net Assets 2021: $93,406,6202021Assets 2022: $101,508,365Liabilities 2022: $300,873Net Assets 2022: $101,207,4922022

Highlighted filing

2022

Assets$101,508,365
Liabilities$300,873
Net Assets$101,207,492

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0Expenses 2012: $11,621,1062012Expenses 2013: $12,931,5692013Revenue 2016: $11,089,290Expenses 2016: $8,897,037Net Income 2016: $2,192,2532016Revenue 2017: $13,145,025Expenses 2017: $7,522,895Net Income 2017: $5,622,1302017Revenue 2018: $19,020,047Expenses 2018: $4,713,297Net Income 2018: $14,306,7502018Revenue 2019: $9,433,383Expenses 2019: $4,937,726Net Income 2019: $4,495,6572019Revenue 2020: $9,706,773Expenses 2020: $5,249,475Net Income 2020: $4,457,2982020Revenue 2021: $9,533,267Expenses 2021: $5,738,863Net Income 2021: $3,794,4042021Revenue 2022: $25,949,773Expenses 2022: $6,740,718Net Income 2022: $19,209,0552022

Highlighted filing

2022

Revenue$25,949,773
Expenses$6,740,718
Net Income$19,209,055

Filings

Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 8, 2020
Return Version
2018v3.1
Gross Receipts
$9,239,855
Mission and Program Overview

Mission

To provide support for the expansion and the improvement of public institutions of higher learning; specifically for the william & mary raymond a. Mason school of business.

Provide support for public institution of higher education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$45,099,639$47,708,845▲ $2,609,206
Investments in Publicly Traded Securities$6,950,662$14,902,810▲ $7,952,148
Pledges and Grants Receivable$10,789,016$5,878,923▼ $4,910,093
Cash and Non-Interest-Bearing Accounts$2,051,342$1,907,539▼ $143,803
Savings and Temporary Cash Investments$2,060,791$1,235,080▼ $825,711
Accounts Receivable$88,211$157,084▲ $68,873
Prepaid Expenses and Deferred Charges$29,238$87,534▲ $58,296
Land, Buildings, and Equipment, Net$5,353$2,792▼ $2,561
Total Assets$68,662,707$73,508,506▲ $4,845,799
Other Assets Total$1,588,455$1,627,899▲ $39,444
Liabilities
Accounts Payable and Accrued Expenses$39,564$290,539▲ $250,975
Deferred Revenue$23,885$72,483▲ $48,598
Total Liabilities$63,449$363,022▲ $299,573
Net Assets / Fund Balance
Permanently Rstr Net Assets$37,481,766$38,898,473▲ $1,416,707
Temporarily Rstr Net Assets$27,393,007$29,016,730▲ $1,623,723
Unrestricted Net Assets$3,724,485$5,230,281▲ $1,505,796
Total Net Assets Fund Balance$68,599,258$73,145,484▲ $4,546,226
Total Liabilities and Net Assets / Fund Balance$68,662,707$73,508,506▲ $4,845,799

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,792$10,237$13,029
Other Securities$47,708,845--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$44,807,892$5,331,348▲ $2,570,611$1,119,682$51,590,169
2017$46,245,094$1,058,816▲ $3,532,131$6,028,149$44,807,892
2016$41,840,727$1,504,871▲ $4,252,896$1,353,400$46,245,094
2015$42,461,293$1,891,313▼ $784,413$1,727,466$41,840,727
2014$41,907,117$384,193▲ $1,278,601$1,108,618$42,461,293
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carla King-johnsonAssistant TreasurerFT$80,575$32,873$113,448
Revenue and Support

Revenue Composition

Contributions and Grants
$5,328,159
Program Service Revenue
$1,077,900
Investment Income
$3,027,324
Other Revenue
$0
All Other Contributions
$5,328,159
Change in Net Assets
$4,495,657

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded40$272,179Fair Value
Total Noncash Contributions40$272,179-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,934,409
Revenue Not Reported on Financial Statements
$498,974
Revenue Not Reported on Form 990
$50,569
Other Revenue Adjustments
$255,000
Total Revenue per Audited Statements
$8,984,978
Total Revenue per Form 990
$9,433,383
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,473,359
Grants and Similar Amounts Paid$856,102
Total Fundraising Expense$812,141
Salaries, Compensation, and Employee Benefits$608,265
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$648,421$45,670$560,727$1,254,818
Grants to Domestic Orgs$856,102--$856,102
Fees for Services Other$599,244-$5,395$604,639
Information Technology$353,820$25,683$19,600$399,103
Other Salaries and Wages$268,384$53,643$46,444$368,471
Advertising$313,113-$8,096$321,209
Fees for Service Investment Mgmnt Fees-$243,975-$243,975
Office Expenses$97,545$5,659$62,370$165,574
Travel$8,099$2,745$76,434$87,278
Other Employee Benefits$36,437$37,716$6,348$80,501
Current Officers, Directors, Trustees, and Key Employees-$75,560-$75,560
Pension Plan Contributions$22,778$19,436$4,071$46,285
Fees for Services Accounting-$37,850$2,200$40,050
Payroll Taxes$25,611$9,281$2,556$37,448
Other Expenses$7,304$259$16,422$7,563
Insurance-$6,918-$6,918
Depreciation Depletion-$2,561-$2,561
Fees for Services Legal$130--$130
Total Functional Expenses$3,521,738$603,847$812,141$4,937,726

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,937,726
Expenses per Audited Statements$4,438,752
Total Expenses per Audited Statements$4,438,752
Expenses Not Reported on Financial Statements$498,974
Other Expense Adjustments$255,000
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
William and MaryWilliamsburg, VAIrc Section 115Student Scholarships$832,750
William and MaryWilliamsburg, VAIrc Section 115Parking Decals and Reserved Parking Spaces$13,718
William and MaryWilliamsburg, VAIrc Section 115Entrepreneurship Center Support and Other Support$9,634

International Summary

Offices
0
Employees
0
Spending
$10,395,396

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$6,567,220
EuropeInvestments-00$3,118,449
East Asia & the PacificInvestments-00$442,529
North AmericaInvestments-00$196,129
Middle East and North AfricaInvestments-00$35,380
Sub-saharan AfricaInvestments-00$18,590
South AsiaInvestments-00$17,099
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The first review of the 990 is by the controller. The second review is by the foundation's treasurer.

Form 990, Part VI, Section B, Line 12C

Employees and officers paid by william and mary are required to complete the virginia statement of economic interest each year.

Form 990, Part VI, Section B, Line 15

The officers and employees of the organization are paid via william & mary/state of virginia. The foundation adheres to the compensation practices of the state of virginia and it reimburses william & mary/state of virginia for its payroll. The process was last undertaken for each person in the prior year. The only officer compensated for their services to the organization was the non-voting assistant treasurer.

Form 990, Part VI, Section C, Line 19

Copies are provided upon request and for inspection at the office of the organization.

FORM 990, PART VII, SECTION A:

The assistant treasurer is paid by william & mary, an unrelated organization, and the foundation reimburses william & mary for her salary and benefits.

Filing and Contact Details

Filer

Filer Name
William & Mary Business School
EIN
23-7079011
Phone
7572212294
Address
PO BOX 2220, WILLIAMSBURG, VA 23187

Signing Officer

Name
Barry Sharp
Title
Treasurer
Phone
7572212294
Signed
2020-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barry Sharp
Formed
1972
Legal Domicile
Va
Voting Board Members
36
Independent Board Members
36
Employees
0
Volunteers
0

Preparer

Firm
Dixon Hughes Goodman Llp
Address
901 EAST CARY STREET SUITE 1000, RICHMOND, VA 23219
Preparer
Lakrisha J Watson
Phone
8042827636
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other fees: program service expenses 599,244. Management and general expenses 0. Fundraising expenses 5,395. Total expenses 604,639.

FORM 990, PART XI, LINE 9:

Change in value of trust agreement 29,869.

FORM 990, PART XII, LINE 2C:

The board assumes responsibility for oversight of the audit and the selection of the independent accountant. This process has not changed since the prior year.

FORM 990, PART V, LINE 2A:

The foundation employees are paid by william & mary, an unrelated organization, and the foundation reimburses william & mary for the salaries.

FORM 990, PART V, LINE 4B:

The organization is beneficiary of a grantor trust that has invested in hedge funds for which fincen form 114 has been filed.

Financial Statement Notes

PART III, LINE 1A:

Collection items acquired through purchase or donation are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in unrestricted net assets if purchased with unrestricted assets and as decreases in temporarily restricted net assets if purchased with donor-restricted assets. Contributions of collection items are not recognized in the statement of activities. The collections currently consist of works of art and are displayed on site.

PART V, LINE 4:

To support a public institution of higher education, william and mary raymond a. Mason school of business, in accordance with the intent of the donors.

PART X, LINE 2:

The foundation is exempt from income taxes under section 501(c)(3) of the internal revenue code and the tax statutes of the commonwealth of virginia. However, income from certain investments is subject to taxation as unrelated business income. The accompanying financial statements do not reflect a provision or liability for federal and state income taxes as there is no estimated tax due as of june 30, 2019.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of trust agreement 29,869.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loss on uncollectible promise to give 255,000.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Loss on uncollectible promise to give 255,000.

Raw XML AppendixShowing 400 of 890 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm6DAVID H BAGGS
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IRS990/Form990PartVIISectionAGrp/PersonNm24MOLLY PIERONI
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt31TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt32TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt33TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt34TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt35TRUSTEE
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