Nonprofit · EIN 23-7156305
JAMES MADISON UNIVERSITY FOUNDATION INC
Tax-exempt · HARRISONBURG, VA 22807
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $37,668,356 | $21,163,538 | $16,504,818 | $271,465,754 | $20,952,815 | $250,512,939 |
| June 30, 2024 | 990 (amended) | $48,716,381 | $21,309,809 | $27,406,572 | $234,955,587 | $18,565,419 | $216,390,168 |
| June 30, 2023 | 990 | $21,589,923 | $21,367,072 | $222,851 | $214,401,774 | $19,335,681 | $195,066,093 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $26,564,127
- Program service revenue
- $1,434,689
- Investment income
- $8,756,612
- Royalties
- $877,106
- Net gain from sales of assets
- $5,673,635
- Net income from fundraising events
- $35,822
- Other revenue
- $912,928
Expenses
- Grants and similar amounts paid
- $15,279,644
- Compensation of officers, directors and key employees
- $487,393
- Other salaries and wages
- $703,066
- Salaries, compensation and benefits (total)
- $1,455,643
- Professional fundraising fees
- $0
- Legal fees
- $22,596
- Accounting fees
- $23,643
- Occupancy
- $72,650
- Travel
- $179,197
- Depreciation
- $106,637
- Program services (functional)
- $18,023,602
- Management and general (functional)
- $2,193,658
- Fundraising (functional)
- $946,278
Balance sheet and other
- Total assets, start of year
- $234,955,587
- Total assets, end of year
- $271,465,754
- Total liabilities, end of year
- $20,952,815
- Net assets, end of year
- $250,512,939
- Land, buildings and equipment
- $4,796,137
- Publicly traded securities
- $89,310,233
- Net assets without donor restrictions
- $43,357,976
- Net assets with donor restrictions
- $207,154,963
- Gross receipts
- $96,945,512
- Employees
- 3
- Volunteers
- 26
- Year formed
- 1969
- 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 |
|---|---|---|---|---|
| Warren K Coleman | CEO Trustee or director, Officer | 45 | $252,761 | $38,939 |
| Cheryl L Lindsay | Vice President/Chief Financial Officer Trustee or director, Officer | 40 | $145,695 | $35,483 |
| Tammy KC Balser | Secretary, Senior Acctg Manager - Operations Trustee or director, Officer | 39 | $101,218 | $33,651 |
| David S Kay | Chair Trustee or director, Officer | 1 | $0 | $0 |
| John Alouf | Trustee Trustee or director | 1 | $0 | $0 |
| A Jerry Benson | Trustee Trustee or director | 1 | $0 | $0 |
| Jarl Bliss | Trustee Trustee or director | 1 | $0 | $0 |
| Darrel Branch | Trustee Trustee or director | 1 | $0 | $0 |
| Linda W Cross | Trustee Trustee or director | 1 | $0 | $0 |
| Joseph K Funkhouser II | Trustee Trustee or director | 1 | $0 | $0 |
| Enrico Gaglioti | Trustee Trustee or director | 1 | $0 | $0 |
| James E Hartman | Trustee Trustee or director | 1 | $0 | $0 |
| Heather Hedrick | Trustee Trustee or director | 1 | $0 | $0 |
| F Claiborne Johnston III | Trustee Trustee or director | 1 | $0 | $0 |
| Nicholas L Langridge | Trustee, Ex-Officio Trustee or director | 1 | $0 | $0 |
11 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ellen W Meyer | Trustee Trustee or director | 1 | $0 |
| Towana H Moore | Trustee, Ex-Officio Trustee or director | 1 | $0 |
| Jon Offley | Vice Chair Trustee or director, Officer | 1 | $0 |
| Curtis Pulliam | Trustee Trustee or director | 1 | $0 |
| J Barry Purcell III | Trustee Trustee or director | 1 | $0 |
| Robin Reifsnider | Trustee Trustee or director | 1 | $0 |
| James L Riley | Trustee Trustee or director | 1 | $0 |
| Jennifer E Shirkey | Trustee Trustee or director | 1 | $0 |
| Paul M Thompson | Trustee Trustee or director | 1 | $0 |
| Michael S Walden | Trustee Trustee or director | 1 | $0 |
| Owen Wilson | Trustee Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Warren K Coleman | CEO Officer | 45 | $224,931 | $36,995 |
| Cheryl L Lindsay | Vice President/Chief Financial Officer Officer | 40 | $135,523 | $34,002 |
| Tammy KC Balser | Secretary, Senior Acctg Manager - Operations Officer | 39 | $92,822 | $32,896 |
| David S Kay | Chair Trustee or director, Officer | 1 | $0 | $0 |
| John Alouf | Trustee Trustee or director | 1 | $0 | $0 |
| A Jerry Benson | Trustee Trustee or director | 1 | $0 | $0 |
| Jarl Bliss | Trustee Trustee or director | 1 | $0 | $0 |
| Darrel Branch | Trustee Trustee or director | 1 | $0 | $0 |
| Linda W Cross | Trustee Trustee or director | 1 | $0 | $0 |
| Joseph K Funkhouser II | Trustee Trustee or director | 1 | $0 | $0 |
| Enrico Gaglioti | Trustee Trustee or director | 1 | $0 | $0 |
| James E Hartman | Trustee Trustee or director | 1 | $0 | $0 |
| Heather Hedrick | Trustee Trustee or director | 1 | $0 | $0 |
| F Claiborne Johnston III | Trustee Trustee or director | 1 | $0 | $0 |
| Nicholas L Langridge | Trustee, Ex-Officio Trustee or director | 1 | $0 | $0 |
| Ellen W Meyer | Trustee Trustee or director | 1 | $0 | $0 |
| Towana H Moore | Trustee, Ex-Officio Trustee or director | 1 | $0 | $0 |
| Jon Offley | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| J Barry Purcell III | Trustee Trustee or director | 1 | $0 | $0 |
| Robin Reifsnider | Trustee Trustee or director | 1 | $0 | $0 |
| James L Riley | Trustee Trustee or director | 1 | $0 | $0 |
| Jennifer E Shirkey | Trustee Trustee or director | 1 | $0 | $0 |
| Paul M Thompson | Trustee Trustee or director | 1 | $0 | $0 |
| Michael S Walden | Trustee Trustee or director | 1 | $0 | $0 |
| Owen Wilson | Trustee Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Warren K Coleman | CEO Officer | 45 | $229,913 | $35,909 |
| Cheryl L Lindsay | Vice President/Chief Financial Officer Officer | 40 | $132,435 | $41,557 |
| Tammy KC Balser | Secretary, Senior Acctg Manager - Operations Officer | 39 | $93,878 | $31,859 |
| J Barry Purcell III | Chair Trustee or director, Officer | 1 | $0 | $0 |
| John Alouf | Trustee Trustee or director | 1 | $0 | $0 |
| A Jerry Benson | Trustee Trustee or director | 1 | $0 | $0 |
| Jarl Bliss | Trustee Trustee or director | 1 | $0 | $0 |
| Darrel Branch | Trustee Trustee or director | 1 | $0 | $0 |
| Linda W Cross | Trustee Trustee or director | 1 | $0 | $0 |
| Ronald C Devine | Trustee Trustee or director | 1 | $0 | $0 |
| Joseph K Funkhouser II | Trustee Trustee or director | 1 | $0 | $0 |
| Enrico Gaglioti | Trustee Trustee or director | 1 | $0 | $0 |
| James E Hartman | Trustee Trustee or director | 1 | $0 | $0 |
| Heather Hedrick | Trustee Trustee or director | 1 | $0 | $0 |
| F Claiborne Johnston III | Trustee Trustee or director | 1 | $0 | $0 |
| David S Kay | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Nicholas L Langridge | Trustee, Ex-Officio Trustee or director | 1 | $0 | $0 |
| Ellen W Meyer | Trustee Trustee or director | 1 | $0 | $0 |
| Towana H Moore | Trustee, Ex-Officio Trustee or director | 1 | $0 | $0 |
| Jon Offley | Trustee Trustee or director | 1 | $0 | $0 |
| Robin Reifsnider | Trustee Trustee or director | 1 | $0 | $0 |
| James L Riley | Trustee Trustee or director | 1 | $0 | $0 |
| Jennifer E Shirkey | Trustee Trustee or director | 1 | $0 | $0 |
| Paul M Thompson | Trustee Trustee or director | 1 | $0 | $0 |
| Michael S Walden | Trustee Trustee or director | 1 | $0 | $0 |
| Owen Wilson | Trustee Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1031 HARRISON ST MSC 8501, HARRISONBURG, VA 22807-1034
- Principal officer (990 for 2024)
- Cheryl L Lindsay, 1031 Harrison Street, MSC 8501, Harrisonburg, VA 22807
- Signed the 990
- Cheryl Lindsay, Vice President/CFO
- Phone
- (540) 568-3187
- Website
- www.jmu.edu/foundation
Mission
The James Madison University Foundation provides prudent investment policy and stewardship to sustain and grow financial support for the University, while collaborating with the University to create innovative avenues of giving and to meet critical funding initiatives.
Program accomplishments
- Scholarships & Fellowships - Includes expenditures for scholarships and fellowships in the form of grants to students, resulting from selection by donor-established criteria or by the James Madison University Foundation's board designation of unrestricted funds.Expenses $9,902,135 · grants $9,824,947
- Intercollegiate Athletics - Expenditures for intercollegiate sport programs that provide for JMU students' physical well-being and social and cultural development outside the context of the formal instruction program. It also includes expenditures related to the administration, operation, and promotion of intercollegiate athletics.Expenses $2,394,739 · grants $1,780,934
- Institutional Support - Includes expenditures for central and administrative-level activities concerned with management and long-range planning for the entire institution. It also includes expenditures for operations related to human resources, postal services, finance, resource planning, information technology, and for advancement to maintain relations with the community, alumni and other constituents and to conduct activities related to institution-wide development.Expenses $1,983,601 · grants $1,202,420
- Academic Support - Includes expenditures providing support services for programs of instruction, research, and public services.Expenses $1,329,123 · grants $1,108,205
- Operation & Maintenance of Plant - Includes expenditures for the operation and maintenance of James Madison University's physical plant. Current year expenditures include transfers to James Madison University of donor-designated funds related to a field hockey facility.Expenses $1,099,264 · grants $460,312
- Instruction - Includes expenditures for all activities that are part of JMU's instructional program.Expenses $919,340 · grants $669,444
- Public Service - Includes expenditures for activities established to provide non-instructional educational services beneficial to individuals and groups, internal and external to JMU.Expenses $216,145 · grants $117,877
- Student Support - Includes expenditures for student affairs and activities with the primary purpose of contributing to students' emotional and physical well-being and intellectual, cultural and social development outside the context of the formal instruction program.Expenses $142,920 · grants $83,825
- Research - Includes expenditures for activities specifically organized to produce educational research at JMU.Expenses $36,335 · grants $22,799
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
- 23-7156305
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1972
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B820)
- Assets (IRS master file)
- $271,465,754
- Income (IRS master file)
- $96,945,512
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $37,668,356 | $21,163,538 | $271,465,754 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $48,716,381 | $21,309,809 | $234,955,587 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $21,589,923 | $21,367,072 | $214,401,774 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $37,424,979 | $13,507,617 | $205,939,528 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 23-7156305).
Questions about JAMES MADISON UNIVERSITY FOUNDATION INC
- What is the EIN of JAMES MADISON UNIVERSITY FOUNDATION INC?
- The employer identification number (EIN) of JAMES MADISON UNIVERSITY FOUNDATION INC is 23-7156305.
- Is JAMES MADISON UNIVERSITY FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1972.
- Are donations to JAMES MADISON UNIVERSITY FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does JAMES MADISON UNIVERSITY FOUNDATION INC 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 JAMES MADISON UNIVERSITY FOUNDATION INC 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 JAMES MADISON UNIVERSITY FOUNDATION INC 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 JAMES MADISON UNIVERSITY FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names Cheryl L Lindsay.
- Who are the officers and directors of JAMES MADISON UNIVERSITY FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 26 people; 3 received compensation from the organization, the highest $252,761 (Warren K Coleman, CEO).
- How much revenue does JAMES MADISON UNIVERSITY FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $37,668,356, expenses of $21,163,538 and total assets of $271,465,754 at year end.
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