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Nonprofit · EIN 54-0734117

WILLIAM & MARY FOUNDATION

Tax-exempt · WILLIAMSBURG, VA 23188

Financials

$41.1M$52.6M2022$161.6M$72.6M2023$191.2M$67.1M2024
Revenue Expenses · by fiscal year end
Financials of WILLIAM & MARY FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$191,186,125$67,120,736$124,065,389$1,455,364,130$37,808,492$1,417,555,638
June 30, 2024990$161,638,025$72,625,450$89,012,575$1,294,159,126$36,220,357$1,257,938,769
June 30, 2023990$41,051,162$52,596,974-$11,545,812$1,134,029,696$33,715,967$1,100,313,729
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$101,450,564
Program service revenue
$3,876,593
Investment income
$85,858,918
Net gain from sales of assets
$67,455,606
Other revenue
$50

Expenses

Grants and similar amounts paid
$52,713,635
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$53,560
Accounting fees
$147,703
Occupancy
$751,813
Travel
$272,077
Depreciation
$353,046
Program services (functional)
$57,279,769
Management and general (functional)
$2,357,933
Fundraising (functional)
$7,483,034

Balance sheet and other

Total assets, start of year
$1,294,159,126
Total assets, end of year
$1,455,364,130
Total liabilities, end of year
$37,808,492
Net assets, end of year
$1,417,555,638
Land, buildings and equipment
$13,316,139
Publicly traded securities
$7,077,981
Net assets without donor restrictions
$63,310,314
Net assets with donor restrictions
$1,354,245,324
Gross receipts
$617,712,216
Employees
0
Volunteers
39
Year formed
1939
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.

NameTitleHours / weekCompensationOther / benefits
F BRIAN HIESTANDCHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND
Key employee
10$664,032$70,740
CATHERINE MOUNTJOYCHIEF OPERATING OFFICER, 1693 PARTNERS FUND
Key employee
5$427,250$50,198
MATTHEW T LAMBERTCHIEF EXECUTIVE OFFICER
Officer
30$332,250$37,458
BRUCE G AIRDCHIEF FINANCIAL OFFICER AND TREASURER
Officer
30$150,783$38,623
JULIE S LEACHEXECUTIVE DIRECTOR
Officer
32$111,885$50,548
DARPAN S KAPADIATRUSTEE/VICE CHAIRPERSON FOR DEVELOPMENT STRATEGY
Trustee or director, Officer
1$0$0
ELIZABETH CABELL JENNINGSTRUSTEE/VICE CHAIRPERSON FOR INVESTMENTS
Trustee or director, Officer
1$0$0
JANET R ATWATERTRUSTEE/CHAIRPERSON OF THE BOARD
Trustee or director, Officer
1$0$0
TERI DALE DUNGANTRUSTEE/SECRETARY
Trustee or director, Officer
1$0$0
A Clayton PerfallTRUSTEE
Trustee or director
1$0$0
ANDREW W HORROCKSTRUSTEE
Trustee or director
1$0$0
CHET M THAKERTRUSTEE
Trustee or director
1$0$0
CHRISTINE MARIE VILLATRUSTEE
Trustee or director
1$0$0
CLIFFORD B FLEET IIITRUSTEE (TERM ENDED 10/24)
Trustee or director
1$0$0
DARCY CURRANTRUSTEE (TERM BEGAN 10/24)
Trustee or director
1$0$0
29 more people on this return
NameTitleHours / weekCompensation
DAVID N KELLEYTRUSTEE
Trustee or director
1$0
DAVID R COVINTRUSTEE
Trustee or director
1$0
DAWN M AARONTRUSTEE (TERM ENDED 10/24)
Trustee or director
1$0
DR STEPHEN S TANGTRUSTEE
Trustee or director
1$0
EUGENE P FOLEY JRTRUSTEE
Trustee or director
1$0
FRANCES C ENGORONTRUSTEE
Trustee or director
1$0
HILARY GRANT DIXONTRUSTEE
Trustee or director
1$0
HYLAH B BALLOWETRUSTEE
Trustee or director
1$0
J SCOTT PERKINSTRUSTEE (TERM ENDED 10/24)
Trustee or director
1$0
JAMES E MALLORYTRUSTEE
Trustee or director
1$0
JANE CHURCH HORVATHTRUSTEE
Trustee or director
1$0
JENNIFER T MACKESYTRUSTEE/VOTING EX-OFFICIO
Trustee or director
1$0
JILL MARIE LORDTRUSTEE
Trustee or director
1$0
JODY W FORSYTHTRUSTEE (TERM ENDED 10/24)
Trustee or director
1$0
KARLA MUNDENTRUSTEE
Trustee or director
1$0
KATHERINE A ROWETRUSTEE/ VOTING EX-OFFICIO
Trustee or director
1$0
LOUIS GERARD DUDNEYTRUSTEE
Trustee or director
1$0
MAISIE K O'FLANAGANTRUSTEE (TERM BEGAN 10/24)
Trustee or director
1$0
MASHEA M ASHTONTRUSTEE
Trustee or director
1$0
MICHAEL C SAPNARTRUSTEE
Trustee or director
1$0
PAMELA JORDAN PENNYTRUSTEE
Trustee or director
1$0
PENELOPE H MEREDITHTRUSTEE (TERM ENDED 10/24)
Trustee or director
1$0
RAELENE C WAGONERTRUSTEE
Trustee or director
1$0
SHELLEY B GOODETRUSTEE (TERM ENDED 10/24)
Trustee or director
1$0
Sue Hanna GerdelmanTRUSTEE
Trustee or director
1$0
Timothy J CarrollTRUSTEE
Trustee or director
1$0
TODD A STOTTLEMYERTRUSTEE
Trustee or director
1$0
TODD ANDREW HOWARDTRUSTEE
Trustee or director
1$0
WILL H PAYNE IITRUSTEE (TERM BEGAN 10/24)
Trustee or director
1$0
990 for the year ended June 30, 2024: 46 people
NameTitleHours / weekCompensationOther / benefits
F BRIAN HIESTANDCHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND
Key employee
10$384,314$67,544
CATHERINE MOUNTJOYCHIEF OPERATING OFFICER, 1693 PARTNERS FUND
Key employee
5$315,856$47,682
MATTHEW T LAMBERTCHIEF EXECUTIVE OFFICER
Officer
30$257,228$37,503
BRUCE G AIRDCHIEF FINANCIAL OFFICER AND TREASURER
Officer
48$129,582$35,235
JULIE S LEACHEXECUTIVE DIRECTOR
Officer
32$96,681$32,224
DARPAN S KAPADIATRUSTEE/VICE CHAIRPERSON FOR DEVELOPMENT STRATEGY
Trustee or director, Officer
1$0$0
ELIZABETH CABELL JENNINGSTRUSTEE/VICE CHAIRPERSON FOR INVESTMENTS
Trustee or director, Officer
1$0$0
JANET R ATWATERTRUSTEE/CHAIRPERSON OF THE BOARD
Trustee or director, Officer
1$0$0
TERI DALE DUNGANTRUSTEE/SECRETARY
Trustee or director, Officer
1$0$0
A Clayton PerfallTRUSTEE (TERM BEGAN 10/23)
Trustee or director
1$0$0
ANDREW W HORROCKSTRUSTEE
Trustee or director
1$0$0
CHET M THAKERTRUSTEE
Trustee or director
1$0$0
CHRISTINE MARIE VILLATRUSTEE
Trustee or director
1$0$0
CLIFFORD B FLEET IIITRUSTEE
Trustee or director
1$0$0
DAVID N KELLEYTRUSTEE
Trustee or director
1$0$0
DAVID R COVINTRUSTEE
Trustee or director
1$0$0
DAWN M AARONTRUSTEE
Trustee or director
1$0$0
DR STEPHEN S TANGTRUSTEE
Trustee or director
1$0$0
EUGENE P FOLEY JRTRUSTEE
Trustee or director
1$0$0
FRANCES C ENGORONTRUSTEE
Trustee or director
1$0$0
HILARY GRANT DIXONTRUSTEE
Trustee or director
1$0$0
HYLAH B BALLOWETRUSTEE
Trustee or director
1$0$0
J SCOTT PERKINSTRUSTEE
Trustee or director
1$0$0
JAMES E MALLORYTRUSTEE
Trustee or director
1$0$0
JANE CHURCH HORVATHTRUSTEE
Trustee or director
1$0$0
JENNIFER T MACKESYTRUSTEE (TERM ENDED 10/23)
Trustee or director
1$0$0
JILL MARIE LORDTRUSTEE
Trustee or director
1$0$0
JODY W FORSYTHTRUSTEE
Trustee or director
1$0$0
JOHN E SIMMONSTRUSTEE (TERM ENDED 10/23)
Trustee or director
1$0$0
KARLA MUNDENTRUSTEE
Trustee or director
1$0$0
KATHERINE A ROWETRUSTEE/ VOTING EX-OFFICIO
Trustee or director
1$0$0
LOUIS GERARD DUDNEYTRUSTEE
Trustee or director
1$0$0
MARK C BUSHTRUSTEE (TERM ENDED 10/23)
Trustee or director
1$0$0
MASHEA M ASHTONTRUSTEE
Trustee or director
1$0$0
MELISSA D FRIEDERYTRUSTEE (TERM ENDED 10/23)
Trustee or director
1$0$0
MICHAEL C PETTERSTRUSTEE/VOTING EX-OFFICIO
Trustee or director
1$0$0
MICHAEL C SAPNARTRUSTEE
Trustee or director
1$0$0
MICHAEL K POWELLTRUSTEE (TERM ENDED 10/23)
Trustee or director
1$0$0
PAMELA JORDAN PENNYTRUSTEE
Trustee or director
1$0$0
PENELOPE H MEREDITHTRUSTEE
Trustee or director
1$0$0
RAELENE C WAGONERTRUSTEE
Trustee or director
1$0$0
SHELLEY B GOODETRUSTEE
Trustee or director
1$0$0
Sue Hanna GerdelmanTRUSTEE (TERM BEGAN 10/23)
Trustee or director
1$0$0
Timothy J CarrollTRUSTEE (TERM BEGAN 10/23)
Trustee or director
1$0$0
TODD A STOTTLEMYERTRUSTEE
Trustee or director
1$0$0
TODD ANDREW HOWARDTRUSTEE
Trustee or director
1$0$0
990 for the year ended June 30, 2023: 51 people
NameTitleHours / weekCompensationOther / benefits
F BRIAN HIESTANDCHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND
Key employee
10$866,051$64,206
CATHERINE MOUNTJOYCHIEF OPERATING OFFICER, 1693 PARTNERS FUND
Key employee
5$511,339$45,924
MATTHEW T LAMBERTCHIEF EXECUTIVE OFFICER
Officer
30$219,040$35,033
WILLIAM D COPAN JRASSISTANT TREASURER (ENDED 9/22)
Officer
12.5$195,079$34,242
KARYN A TANCREDICONTROLLER (ENDED 12/22)
Key employee
50$165,199$43,851
JULIE S LEACHEXECUTIVE DIRECTOR
Officer
32$91,834$30,113
AMY S SEBRINGCHIEF FINANCIAL OFFICER AND TREASURER (ENDED 10/22)
Officer
13$92,188$16,105
CLIFFORD B FLEET IIITRUSTEE/CHAIRPERSON OF THE BOARD
Trustee or director, Officer
1$0$0
ELIZABETH CABELL JENNINGSTRUSTEE/VICE CHAIRPERSON FOR INVESTMENTS
Trustee or director, Officer
1$0$0
JANET R ATWATERTRUSTEE/VICE CHAIRPERSON FOR DEVELOPMENT STRATEGY
Trustee or director, Officer
1$0$0
RAELENE C WAGONERTRUSTEE/SECRETARY
Trustee or director, Officer
1$0$0
ANDREW W HORROCKSTRUSTEE
Trustee or director
1$0$0
BROOKE TRIBLE WEINMANNTRUSTEE (TERM ENDED 10/22)
Trustee or director
1$0$0
CHET M THAKERTRUSTEE
Trustee or director
1$0$0
CHRISTINE MARIE VILLATRUSTEE
Trustee or director
1$0$0
DARPAN S KAPADIATRUSTEE
Trustee or director
1$0$0
DAVID J JALLITSTRUSTEE (TERM ENDED 10/22)
Trustee or director
1$0$0
DAVID N KELLEYTRUSTEE
Trustee or director
1$0$0
DAVID R COVINTRUSTEE
Trustee or director
1$0$0
DAWN M AARONTRUSTEE
Trustee or director
1$0$0
DR STEPHEN S TANGTRUSTEE (TERM BEGAN 10/22)
Trustee or director
1$0$0
EUGENE P FOLEY JRTRUSTEE
Trustee or director
1$0$0
FRANCES C ENGORONTRUSTEE
Trustee or director
1$0$0
HILARY GRANT DIXONTRUSTEE (TERM BEGAN 10/22)
Trustee or director
1$0$0
HOWARD DALE MCFADDENTRUSTEE (TERM ENDED 07/22)
Trustee or director
1$0$0
HYLAH B BALLOWETRUSTEE
Trustee or director
1$0$0
J SCOTT PERKINSTRUSTEE
Trustee or director
1$0$0
JAMES E MALLORYTRUSTEE
Trustee or director
1$0$0
JANE CHURCH HORVATHTRUSTEE
Trustee or director
1$0$0
JENNIFER T MACKESYTRUSTEE
Trustee or director
1$0$0
JILL MARIE LORDTRUSTEE
Trustee or director
1$0$0
JODY W FORSYTHTRUSTEE
Trustee or director
1$0$0
JOHN E LITTELTRUSTEE/VOTING EX-OFFICIO (TERM ENDED 10/22)
Trustee or director
1$0$0
JOHN E SIMMONSTRUSTEE
Trustee or director
1$0$0
KARLA MUNDENTRUSTEE
Trustee or director
1$0$0
KATHERINE A ROWETRUSTEE/ VOTING EX-OFFICIO
Trustee or director
1$0$0
KEVIN M PHILLIPSTRUSTEE (TERM ENDED 10/22)
Trustee or director
1$0$0
LOUIS GERARD DUDNEYTRUSTEE
Trustee or director
1$0$0
MARK C BUSHTRUSTEE
Trustee or director
1$0$0
MASHEA M ASHTONTRUSTEE
Trustee or director
1$0$0
MELISSA D FRIEDERYTRUSTEE
Trustee or director
1$0$0
MICHAEL C PETTERSTRUSTEE/VOTING EX-OFFICIO (TERM BEGAN 10/22)
Trustee or director
1$0$0
MICHAEL C SAPNARTRUSTEE
Trustee or director
1$0$0
MICHAEL K POWELLTRUSTEE
Trustee or director
1$0$0
PAMELA JORDAN PENNYTRUSTEE
Trustee or director
1$0$0
PENELOPE H MEREDITHTRUSTEE
Trustee or director
1$0$0
SHELLEY B GOODETRUSTEE
Trustee or director
1$0$0
TERI DALE DUNGANTRUSTEE
Trustee or director
1$0$0
TODD A STOTTLEMYERTRUSTEE
Trustee or director
1$0$0
TODD ANDREW HOWARDTRUSTEE (TERM BEGAN 10/22)
Trustee or director
1$0$0
BRUCE G AIRDCHIEF FINANCIAL OFFICER AND TREASURER ( BEGAN 04/23)
Officer
48$0$0

Address and contacts

Address (IRS master file)
5300 DISCOVERY PARK BLVD 3RD FLOOR, WILLIAMSBURG, VA 23188-2695
Principal officer (990 for 2024)
MATTHEW T LAMBERT, 5300 DISCOVERY PARK BLVD 3rd FLOOR, WILLIAMSBURG, VA 231882695
Signed the 990
MATTHEW T LAMBERT, CHIEF EXECUTIVE OFFICER
Phone
(757) 221-1906
Return prepared by
CROWE LLP

Mission

The William & Mary Foundation advances the university's highest aspirations by securing private support, guiding a multi-asset investment portfolio, and offering strategic leadership. In this work, we propel the university toward national preeminence and help shape a future worthy of its history.

990 for the year ended June 30, 2025

Program accomplishments

  • THE FOUNDATION PROVIDES FUNDING TO SUPPORT THE SALARIES OF FACULTY, ADMINISTRATIVE STAFF, AND OTHER PERSONNEL AT WILLIAM & MARY. IT ALSO SUPPLIES GENERAL OPERATING SUPPORT TO ADVANCE THE UNIVERSITY'S ACADEMIC MISSION, STRATEGIC PRIORITIES, AND OVERALL INSTITUTIONAL EXCELLENCE. ADDITIONAL DETAILS CAN BE FOUND IN PART IX AND SCHEDULE I.
    Expenses $41,946,098 · grants $37,379,964
  • THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO WILLIAM & MARY STUDENTS THROUGH SCHOLARSHIPS. THIS SUPPORT HELPS EXPAND ACCESS, PROMOTE AFFORDABILITY , AND ENABLE STUDENTS TO PURSUE AND COMPLETE THEIR EDUCATION.
    Expenses $14,840,359 · grants $14,840,359
  • THE FOUNDATION PROVIDES FINANCIAL SUPPORT TO ORGANIZATIONS AFFILIATED WITH OR RELATED TO WILLIAM & MARY. THESE CONTRIBUTIONS HELP STRENGTHEN COLLABORATIVE INITIATIVES, EXTEND THE UNIVERSITY'S IMPACT, AND SUPPORT ACTIVITIES ALIGNED WITH ITS MISSION AND VALUES. ADDITIONAL DETAILS CAN BE FOUND IN PART IX AND SCHEDULE I.
    Expenses $493,312 · grants $493,312 · revenue $3,077,768
  • THE FOUNDATION OWNS AND LEASES BUILDINGS AND FACILITIES TO WILLIAM & MARY FOR USE IN SUPPORT OF ITS ACADEMIC AND OPERATIONAL NEEDS.
    revenue $798,825

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 yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
54-0734117
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
1940
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B11)
Assets (IRS master file)
$1,455,364,130
Income (IRS master file)
$617,712,216

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$191,186,125$67,120,736$1,455,364,130IRS
990-TJune 2025–––IRS
990June 2024$161,638,025$72,625,450$1,294,159,126IRS
990-TJune 2024–––IRS
990June 2023$41,051,162$52,596,974$1,134,029,696XML
990-TJune 2023–––IRS
990June 2022$100,704,101$42,267,429$1,102,294,415IRS
990-TJune 2022–––IRS
990June 2021–––IRS
990-TJune 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990June 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 54-0734117).

Questions about WILLIAM & MARY FOUNDATION

What is the EIN of WILLIAM & MARY FOUNDATION?
The employer identification number (EIN) of WILLIAM & MARY FOUNDATION is 54-0734117.
Is WILLIAM & MARY FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1940.
Are donations to WILLIAM & MARY FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does WILLIAM & MARY 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 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 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 FOUNDATION?
The 990 for the year ended June 30, 2025 names MATTHEW T LAMBERT.
Who are the officers and directors of WILLIAM & MARY FOUNDATION?
The 990 for the year ended June 30, 2025 lists 44 people; 5 received compensation from the organization, the highest $664,032 (F BRIAN HIESTAND, CHIEF INVESTMENT OFFICER, 1693 PARTNERS FUND).
How much revenue does WILLIAM & MARY FOUNDATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $191,186,125, expenses of $67,120,736 and total assets of $1,455,364,130 at year end.

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