Nonprofit · EIN 23-7079011
WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
Tax-exempt · WILLIAMSBURG, VA 23187
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $16,950,934 | $6,160,562 | $10,790,372 | $135,737,107 | $191,038 | $135,546,069 |
| June 30, 2024 | 990 | $8,816,362 | $6,000,946 | $2,815,416 | $120,268,428 | $122,852 | $120,145,576 |
| June 30, 2023 | 990 | $9,094,759 | $5,941,991 | $3,152,768 | $110,015,479 | $197,407 | $109,818,072 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $8,842,750
- Program service revenue
- $0
- Investment income
- $8,127,912
- Net gain from sales of assets
- $5,967,584
- Other revenue
- -$19,728
Expenses
- Grants and similar amounts paid
- $1,620,568
- Compensation of officers, directors and key employees
- $460,588
- Other salaries and wages
- $1,488,459
- Salaries, compensation and benefits (total)
- $2,368,711
- Professional fundraising fees
- $0
- Legal fees
- $27,142
- Accounting fees
- $63,473
- Occupancy
- $32,690
- Travel
- $92,368
- Program services (functional)
- $3,519,401
- Management and general (functional)
- $1,261,584
- Fundraising (functional)
- $1,379,577
Balance sheet and other
- Total assets, start of year
- $120,268,428
- Total assets, end of year
- $135,737,107
- Total liabilities, end of year
- $191,038
- Net assets, end of year
- $135,546,069
- Publicly traded securities
- $48,791,408
- Net assets without donor restrictions
- $6,011,150
- Net assets with donor restrictions
- $129,534,919
- Gross unrelated business income
- -$19,728
- Gross receipts
- $16,950,934
- Employees
- 0
- Volunteers
- 28
- Year formed
- 1972
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KIMBERLY SPERLING | CEO Officer | 40 | $111,357 | $27,624 |
| CARLA R KING-JOHNSON | ASSISTANT TREASURER Officer | 40 | $110,473 | $26,486 |
| KELLIE MINER-FRAZIER | ASSISTANT SECRETARY Officer | 40 | $96,606 | $31,903 |
| BARRY J SHARP | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DONALD L LOWMAN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| MOLLY PIERONI | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ALICE DAVISON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ALLISON SPIVEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| AMANDA EVERSOLE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ANNE MCGEORGE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| COLLEEN DRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID BURG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID MUSTO | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EDWARD T TOKAR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ERWIN VAN DER VOORT | TRUSTEE Trustee or director | 1 | $0 | $0 |
17 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FRANK ROACH | TRUSTEE Trustee or director | 1 | $0 |
| G MICHAEL STAKIAS | TRUSTEE Trustee or director | 1 | $0 |
| JOHN HYMAN | TRUSTEE Trustee or director | 1 | $0 |
| KARIM H K AHAMED | TRUSTEE Trustee or director | 1 | $0 |
| KATHERINE NEUMER | TRUSTEE Trustee or director | 1 | $0 |
| LEE CROLL | TRUSTEE Trustee or director | 1 | $0 |
| MATTHEW B SIANO | TRUSTEE Trustee or director | 1 | $0 |
| MELINDA HANCOCK | TRUSTEE Trustee or director | 1 | $0 |
| MELISSA BALLENGER | TRUSTEE Trustee or director | 1 | $0 |
| MICHAEL MATACUNAS | TRUSTEE Trustee or director | 1 | $0 |
| NICOLAS BOEL | TRUSTEE Trustee or director | 1 | $0 |
| PHIL TUNING | TRUSTEE Trustee or director | 1 | $0 |
| RICHARD C KRAEMER JR | TRUSTEE Trustee or director | 1 | $0 |
| RICHARD FISHER | TRUSTEE Trustee or director | 1 | $0 |
| STEPHEN KENNY | TRUSTEE Trustee or director | 1 | $0 |
| TROY KEEN | TRUSTEE Trustee or director | 1 | $0 |
| SUSAN C RUCKER | CFO Officer | 10 | $0 |
990 for the year ended June 30, 2024: 36 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KIMBERLY SPERLING | CEO Officer | 40 | $104,944 | $26,238 |
| CARLA R KING-JOHNSON | ASSISTANT TREASURER Officer | 40 | $92,852 | $25,054 |
| KELLIE MINER-FRAZIER | ASSISTANT SECRETARY Officer | 40 | $85,693 | $30,215 |
| BARRY J SHARP | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| CYNTHIA H DAVIS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| PAUL C SAVILLE | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RAYMOND MASON | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ALICE DAVISON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ALLISON SPIVEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| AMANDA EVERSOLE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ANNE MCGEORGE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| COLLEEN DRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID BURG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID H BAGGS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DONALD L LOWMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EDWARD T TOKAR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ERWIN VAN DER VOORT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| FRANK ROACH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| G MICHAEL STAKIAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEFFREY F ROGATZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOHN HYMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JULIE DOBSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KARIM H K AHAMED | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEE CROLL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEONARD BROOKS III | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATTHEW B SIANO | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MELINDA HANCOCK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MELISSA BALLENGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MICHAEL MATACUNAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MOLLY PIERONI | TRUSTEE Trustee or director | 1 | $0 | $0 |
| NICOLAS BOEL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| PHIL TUNING | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RICHARD C KRAEMER JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RICHARD FISHER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TROY KEEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SUSAN C RUCKER | CFO Officer | 10 | $0 | $0 |
990 for the year ended June 30, 2023: 32 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KIMBERLY SPERLING | CEO Officer | 40 | $110,812 | $35,260 |
| CARLA R KING-JOHNSON | ASSISTANT TREASURER Officer | 40 | $88,687 | $23,915 |
| KELLIE MINER-FRAZIER | ASSISTANT SECRETARY Officer | 40 | $74,918 | $34,605 |
| SUSAN C RUCKER | CFO Officer | 10 | $101,938 | $0 |
| PAUL C SAVILLE | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RAYMOND MASON | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| CYNTHIA H DAVIS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| BARRY J SHARP | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| KARIM H K AHAMED | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID H BAGGS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| NICOLAS BOEL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SHAWN BOYER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEONARD BROOKS III | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID BURG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| J EDWARD COLEMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEE CROLL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ALICE DAVISON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JULIE DOBSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| COLLEEN CRUMMOND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RICHARD FISHER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MELINDA HANCOCK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOHN HYMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RICHARD C KRAEMER JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MICHAEL MATACUNAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MOLLY PIERONI | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEFFREY F ROGATZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| THADDEUS R SHELLY III | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MATTHEW B SIANO | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ALLISON SPIVEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| G MICHAEL STAKIAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EDWARD T TOKAR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EDWIN VAN DER VOORT | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 2220, WILLIAMSBURG, VA 23187-2220
- Principal officer (990 for 2024)
- BARRY SHARP, PO Box 2220, Williamsburg, VA 23187
- Signed the 990
- BARRY SHARP, TREASURER
- Phone
- (757) 221-2294
- Return prepared by
- Forvis Mazars LLP
Mission
To advance the goals of William & Mary's Raymond A. Mason School of Business through philanthropy by providing scholarships, programmatic and operational support, and support for its centers of excellence.
Program accomplishments
- Funding was provided to the Raymond A. Mason School of Business for operational support of its highly ranked undergraduate and graduate programs, provision of need-based and merit-based scholarships, support of faculty excellence and research projects, and funding of innovative student experiences including student investment projects, student research, corporate engagement projects, and other experiences to develop the application of business skills and equip students for lives of principled achievement.Expenses $2,873,340 · grants $1,620,568
- WILLIAM & MARY RAYMOND A MASON SCHOOL OF BUSINESS - ACADEMIC STUDENT CENTERS THE BOEHLY CENTER PREPARES STUDENTS FOR CAREERS IN FINANCE BY PROVIDING OPPORTUNITIES FOR ADVANCE FINANCIAL TRAINING, CAREER EXPLORATION, NETWORKING AND EXPERIENTIAL LEARNING.Expenses $556,389
- THE MASON SCHOOL OF BUSINESS IS TAKING A TRANSFORMATIVE APPROACH TO GENERATIVE AI IN BUSINESS EDUCATION. THROUGH THE AI EVERYWHERE INITIATIVE, THE SCHOOL IS PREPARING STUDENTS AND FACULTY AND INDUSTRY PARTNERS FOR AN AI-DRIVEN FUTURE. FACULTY ARE LAUNCHING PROGRAMS AIMED AT ENHANCING DATA LITERACY AND THE SCHOOL IS ACTIVELY INTEGRATING GENERATIVE-AI INTO ITS EDUCATIONAL FRAMEWORK.Expenses $89,672
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7079011
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Organization supporting a government college or university
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1970
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B51I)
- Assets (IRS master file)
- $135,737,107
- Income (IRS master file)
- $16,950,934
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $16,950,934 | $6,160,562 | $135,737,107 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $8,816,362 | $6,000,946 | $120,268,428 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $9,094,759 | $5,941,991 | $110,015,479 | XML |
| 990 | June 2022 | $25,949,773 | $6,740,718 | $101,508,365 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7079011).
Questions about WILLIAM & MARY BUSINESS SCHOOL FOUNDATION
- What is the EIN of WILLIAM & MARY BUSINESS SCHOOL FOUNDATION?
- The employer identification number (EIN) of WILLIAM & MARY BUSINESS SCHOOL FOUNDATION is 23-7079011.
- Is WILLIAM & MARY BUSINESS SCHOOL FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1970.
- Are donations to WILLIAM & MARY BUSINESS SCHOOL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WILLIAM & MARY BUSINESS SCHOOL FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WILLIAM & MARY BUSINESS SCHOOL FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WILLIAM & MARY BUSINESS SCHOOL FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of WILLIAM & MARY BUSINESS SCHOOL FOUNDATION?
- The 990 for the year ended June 30, 2025 names BARRY SHARP.
- Who are the officers and directors of WILLIAM & MARY BUSINESS SCHOOL FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 32 people; 3 received compensation from the organization, the highest $111,357 (KIMBERLY SPERLING, CEO).
- How much revenue does WILLIAM & MARY BUSINESS SCHOOL FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $16,950,934, expenses of $6,160,562 and total assets of $135,737,107 at year end.
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