Colonial Williamsburg Foundation in Williamsburg, Virginia (VA)

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Colonial Williamsburg Foundation
Employer Identification Number (EIN)540505888
Name of OrganizationColonial Williamsburg Foundation
AddressPO BOX 1776, Williamsburg, VA 23187-1776
ActivitiesOther cultural or historical activities, Other mutual organization, Historical site, records or reenactment
SubsectionCharitable Organization
Ruling Date04/1938
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,596,186,128
Amount of Income$462,907,140
Form 990 Revenue Amount$139,016,488
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Historical Societies, Related Historical Activities


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Amount of income in 2013: $462,907,140
Colonial Williamsburg Foundation: 

 $462,907,140
Other organizations performing similar types of work: 

 $218,607

Assets in 2013: $1,596,186,128
This organization: 

 $1,596,186,128
Other organizations performing similar types of work: 

 $961,312

Expenses in 2013: $131,667,349
Colonial Williamsburg Foundation: 

 $131,667,349
Other organizations performing similar types of work: 

 $159,230

Income to expenses ratio in 2013: 3.5
This organization: 

 3.5
Other organizations performing similar types of work: 

 1.3

Expenses allocated to program services in 2007: 82.4%
This organization: 

 82.4%
Other organizations performing similar types of work: 

 74.7%

Number of employees in 2013: 1,871
Colonial Williamsburg Foundation: 

 1,871
Other organizations performing similar types of work: 

 4

Employees paid over $100,000 in 2013: 2.9%
Colonial Williamsburg Foundation: 

 2.9%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 21.1%
This organization: 

 21.1%
Other organizations performing similar types of work: 

 29.9%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoYes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYes
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoYes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?YesYes
A family member of a current or former officer, director, trustee, or key employee?YesYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?YesYes
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?YesYes
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096403407
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1,7971,871
Did the organization file all required federal employment tax returns?YesNo
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?YesNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$3,929,119$3,750,329
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$754,114$748,726
Total number of individuals who received more than $100,000 of reportable compensation from the organization3332
Total number of independent contractors who received more than $100,000 of compensation from the organization2423
Statement of Revenue
201120122013
Total revenue$118,258,295$115,094,642$139,016,488
Contributions, Gifts, Grants and Other Similar Amounts$34,125,545$27,081,374$29,276,705
Program Service Revenue$40,095,459$38,310,177$38,180,391
611600$16,363,252$18,722,957
Lessors of Residential Buildings and Dwellings $2,399,820$779,011
611600$788,264$2,445,039
722100$18,758,841$16,233,384
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$8,202,488$9,130,476$5,445,125
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$1,225,926$1,123,799$1,071,633
Net rental loss$-11,095,926$-8,116,409$-5,261,620
Gross rents (Real / Personal)$16,295,876 / $27,920$16,650,761 / $27,920$16,924,691 / $27,920
Less: rental expenses (Real / Personal)$27,411,664 / $8,058$24,794,681 / $409$22,213,822 / $409
Rental income or (loss) (Real / Personal)$-11,115,788 / $19,862$-8,143,920 / $27,511$-5,289,131 / $27,511
Net gain/loss from sales of assets other than inventory$32,823,063$34,842,961$57,206,098
Gross amount from sales of assets other than inventory (Securities / Other)$332,285,912 / $1,028,781$269,065,636 / $846,458$349,165,772 / $575,714
Less: cost or other basis and sales expenses (Securities / Other)$297,643,220 / $2,848,410$234,068,844 / $1,000,289$291,736,125 / $799,263
Gain or (loss) (Securities / Other)$34,642,692 / $-1,819,629$34,996,792 / $-153,831$57,429,647 / $-223,549
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$10,868,927$10,804,022$10,772,993
Gross sales of inventory, less returns and allowances$19,708,681$19,551,807$19,914,026
Less: cost of goods sold$8,839,754$8,747,785$9,141,033
Miscellaneous Revenue$2,012,813$1,918,242$2,325,163
900099$115,350$1,913,064
Parking Lots and Garages $203,127$226,716
512000$1,520,706$110,960
All other revenue$79,059$74,423
Statement of Functional Expenses
201120122013
Total functional expenses$133,955,573$135,981,217$131,667,349
Grants and other assistance to domestic organizations and domestic governments$1,069,222$690,466
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$2,985,214$2,853,248$2,972,506
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$44,280,873$45,564,491$46,582,214
Pension plan accruals and contributions$300,482$306,264
Other employee benefits$9,094,853$8,431,392
Payroll taxes$3,878,105$3,914,094$3,922,031
Fees for services (non-employees)
Management$15,791,399$15,426,202
Legal$66,389$72,434
Accounting$216,584$222,610
Lobbying$0$0
Professional fundraising services$110,838$116,370$194,866
Investment management fees$6,534,608$3,366,143
Other$-5,188,487$-5,126,031
Advertising and promotion$5,978,668$5,868,318
Office expenses$8,654,468$9,089,785
Information technology$1,771,011$1,744,746
Royalties$6,508$8,184
Occupancy$4,314,737$4,322,665
Travel$831,162$829,862
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$564,262$649,698
Interest$5,449,906$5,427,858
Payments to affiliates$0$0
Depreciation, depletion, and amortization$8,247,607$7,766,345
Insurance$881,536$884,215
Other expenses$2,530,579$6,159,529
Other expenses$2,542,299$3,420,216
Other expenses$3,386,881$2,837,851
Other expenses$6,153,151$2,712,354
Other expenses$4,335,189$2,884,626
Balance Sheet
201120122013
Total assets$1,465,821,309$1,501,154,852$1,596,186,128
Cash - non-interest-bearing$190,000$170,000
Savings and temporary cash investments$6,572,251$3,964,258
Pledges and grants receivable, net$15,191,604$15,769,324
Accounts receivable, net$1,698,446$1,886,529
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$4,449,753$5,420,581
Inventories for sale or use$8,459,000$8,457,226
Prepaid expenses and deferred charges$2,105,814$1,732,350
Land, buildings, and equipment: cost or other basis$415,658,902$407,808,743
Investments - publicly traded securities$53,196,905$55,970,453
Investments - other securities$681,606,426$727,765,462
Investments - program-related$0$0
Intangible assets$0$0
Other assets$312,025,751$367,241,202
Total liabilities$401,024,760$400,978,319$390,967,627
Accounts payable and accrued expenses$18,891,785$17,724,447
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$59,801,924$57,736,020$55,570,114
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$2,495,768$2,598,338$2,490,706
Unsecured notes and loans payable to unrelated third parties$272,929,922$272,894,562$272,998,292
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$48,857,614$42,184,068
Total net assets or fund balances$1,064,796,549$1,100,176,533$1,205,218,501
Unrestricted net assets$737,234,694$805,103,553
Temporarily restricted net assets$103,989,210$137,281,541
Permanently restricted net assets$258,952,629$262,833,407
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$443,185,332
Subtotal$461,163,852
Gifts, grants, contributions, and membership fees received$155,256,469
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$325,388,998
Gross receipts from activities that are not an unrelated trade or business under section 513$-19,481,615
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$17,978,520
Amounts received from disqualified persons$12,549,676
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$5,428,844
Total support$542,884,483
Public support$461,163,852
Subtotal$81,720,631
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$81,720,631
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$200,190,841$277,993,680$102,874,693$104,657,066$174,184,013$168,729,563$196,979,267$201,373,400
Contributions, gifts, grants, and similar amounts received$42,290,549$183,312,381$31,120,662$25,459,000$29,287,825$39,401,415$39,926,676$42,202,061
Contributions to donor advised funds$0$0
Direct public support$40,993,424$182,029,318$29,795,412$23,995,971$27,801,666$37,892,739$38,121,076$40,498,287
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$1,297,125$1,283,063$1,325,250$1,463,029$1,486,159$1,508,676$1,805,600$1,703,774
Program service revenue including government fees and contracts$52,004,375$51,515,507$50,007,657$49,896,185$48,686,282$47,192,414$45,284,424$46,528,374
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$1,333,931$2,418,809$2,165,792$475,648$687,193$913,808$1,494,884$2,688,803
Dividends and interest from securities$17,928,676$18,438,601$13,865,499$7,954,116$12,287,485$14,322,277$13,818,383$6,470,978
Net rental income or (loss)$4,431,095$4,357,252$4,462,772$5,150,842$6,988,017$6,633,918$5,009,638$-6,922,742
Gross rents$12,194,917$13,578,029$15,262,669$14,990,173$16,865,792$17,109,879$20,092,614$17,513,557
Less: rental expenses$7,763,822$9,220,777$10,799,897$9,839,331$9,877,775$10,475,961$15,082,976$24,436,299
Other investment income$0$0$0$0$178,925$346,038$375,674$1,062,810
Gain or (loss) from sales of assets other than inventory$59,229,542$-2,855,317$-20,121,098$-8,300,305$52,873,754$36,744,654$66,084,700$83,232,500
Gross amount from sales of assets other than inventory$987,484,042$795,676,033$1,217,687,938$989,980,932$542,477,869$581,205,079$853,634,011$658,678,346
Less: cost or other basis and sales expenses$928,254,500$798,531,350$1,237,809,036$998,281,237$489,604,115$544,460,425$787,549,311$575,445,846
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$20,412,835$19,956,558$20,640,298$21,126,758$21,770,672$22,012,715$23,229,075$24,011,194
Gross sales of inventory, less returns and allowances$38,898,605$38,800,086$38,983,335$39,345,709$40,341,614$41,128,676$41,919,068$43,621,550
Less: cost of goods sold$18,485,770$18,843,528$18,343,037$18,218,951$18,570,942$19,115,961$18,689,993$19,610,356
Other revenue$2,559,838$849,889$733,111$2,894,822$1,423,860$1,162,324$1,755,813$2,099,422
Total expenses$129,167,344$140,768,409$142,113,853$144,059,407$142,429,278$145,729,010$129,541,810$146,517,120
Program services$105,271,321$113,143,045$116,772,557$113,489,128$114,861,791$118,920,510$108,051,603$120,802,117
Management and general$15,760,842$18,793,072$15,802,514$22,091,960$18,445,301$17,583,289$12,131,551$15,510,069
Fundraising$8,135,181$8,832,292$9,538,782$8,478,319$9,122,186$9,225,211$9,358,656$10,204,934
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$849,716,255$937,017,429$842,123,916$913,384,024$979,878,814$1,007,537,332$1,111,173,618$1,219,764,241
Excess or (deficit) for the year$71,023,497$137,225,271$-39,239,160$-39,402,341$31,754,735$23,000,553$67,437,457$54,856,280
Net assets or fund balances at beginning of year$825,203,107$849,716,255$937,017,429$842,123,916$913,384,024$979,878,814$1,007,537,332$1,111,173,618
Other changes in net assets or fund balances$-46,510,349$-49,924,097$-55,654,353$110,662,449$34,740,055$4,657,965$36,198,829$53,734,343
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$146,517,120$120,802,117$15,510,069$10,204,934
Grants paid from donor advised funds$0
Other grants and allocations$286,050
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$2,826,486$803,517$1,659,269$363,700
Compensation of former officers, directors, key employees, etc.$1,757,184$503,961$1,087,160$166,063
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$46,596,099$36,702,921$8,139,631$1,753,547
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$8,898,115$5,748,643$2,803,739$345,733
Payroll taxes$4,330,184$2,841,974$1,325,881$162,329
Professional fundraising fees$347,460$0$0$347,460
Accounting fees$249,010$0$249,010$0
Legal fees$172,141$0$154,901$17,240
Supplies$3,493,237$3,123,634$310,464$59,139
Telephone$433,616$531,438$-132,945$35,123
Postage and shipping$10,385,811$4,575,609$95,701$5,714,501
Occupancy$8,082,179$6,852,342$1,227,548$2,289
Equipment rental and maintenance$5,999,294$4,619,519$1,329,577$50,198
Printing and publications$3,008,308$2,926,876$28,453$52,979
Travel$1,775,162$1,332,007$180,388$262,767
Conferences, conventions, and meetings$614,085$308,825$292,623$12,637
Interest$7,425,159$3,563,494$3,861,665$0
Depreciation, depletion, etc.$10,323,066$8,279,517$2,031,508$12,041
Other expenses not covered above$29,514,474$37,801,790$-9,134,504$847,188
Balance Sheets
20002001200220032004200520062007
Total assets$1,047,216,370$1,202,613,495$1,131,304,208$1,219,228,381$1,283,428,855$1,368,764,034$1,530,330,287$1,619,737,070
Cash - non-interest-bearing$209,575$196,615$199,035$210,455$199,455$203,155$260,000$299,140
Savings and temporary cash investments$43,913,246$26,659,231$19,642,059$17,806,705$11,712,489$15,144,845$11,482,854$12,482,926
Accounts receivable less allowance for doubtful accounts$3,646,167$2,522,549$3,021,309$4,594,782$4,898,329$7,196,947$5,569,820$4,635,701
Pledges receivable less allowance for doubtful accounts$15,671,144$17,881,797$15,150,486$14,279,076$12,079,707$15,546,691$20,141,258$23,983,543
Grants receivable$0$9,225,423$10,203,118$1,913,375$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$55,850$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,280,299$1,141,739$1,141,739$891,284$16,732,146$147,793$142,049$27,413,296
Inventories for sale or use$12,246,773$11,206,441$11,706,077$13,381,549$13,457,910$12,769,998$12,871,886$13,040,128
Prepaid expenses and deferred charges$7,427,206$10,578,696$14,095,284$13,577,158$17,744,955$15,043,709$46,542,977$63,843,380
Investments - publicly-traded securities$368,112,609$358,679,139
Investments - other securities$591,357,466$673,773,720$568,319,646$635,908,882$690,125,360$712,095,881$410,478,593$460,819,926
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$47,769,634$47,720,836$98,438,463$97,544,234$97,656,747$97,131,207$97,774,110$99,012,563
Land, buildings, and equipment less accumulated depreciation$288,193,931$357,217,950$374,419,930$376,630,243$385,912,799$424,465,699$469,991,250$460,581,694
Other assets, including program-related investments$35,500,929$44,488,498$14,967,062$42,490,638$32,853,108$69,018,109$86,962,881$94,945,634
Total liabilities$197,500,115$265,596,066$289,180,292$305,844,357$303,550,041$361,226,702$419,156,669$399,972,829
Accounts payable and accrued expenses$39,346,929$20,049,039$43,216,606$40,559,267$41,554,577$43,158,898$42,927,293$40,782,382
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$10,875,131$10,977,545$9,317,268$12,049,632$12,947,373$1,259,480$10,046,486$9,370,693
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$63,925,123$65,120,000$68,120,000$68,120,000$68,120,000$63,720,000$72,087,085$72,890,152
Mortgages and other notes payable$78,830,198$143,302,485$159,606,016$175,559,133$171,193,514$232,309,978$276,115,664$250,116,635
Other liabilities$4,522,734$26,146,997$8,920,402$9,556,325$9,734,577$20,778,346$17,980,141$26,812,967
Total liabilities and net assets/fund balances$1,047,216,370$1,202,613,495$1,131,304,208$1,219,228,381$1,283,428,855$1,368,764,034$1,530,330,287$1,619,737,070
Total net assets or fund balances$849,716,255$937,017,429$842,123,916$913,384,024$979,878,814$1,007,537,332$1,111,173,618$1,219,764,241
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$200,190,841$277,993,680$102,874,693$103,749,047$174,184,013$0$0$0
Total revenue, gains, and other support per audited financial statements$200,190,841$277,993,680$102,874,693$214,411,496$277,852,108$0$0$0
Other expenses$0$0$0$110,662,449$63,188,772$0$0$0
Net unrealized gains on investments$0$0$0$110,662,449$34,740,055$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$28,448,707$0$0$0
Other revenue$0$0$0$0$-40,479,323$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$-40,479,323$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$129,167,344$140,768,409$142,113,853$143,151,388$142,429,281$0$0$0
Total expenses and losses per audited financial statements$175,677,693$190,692,506$197,768,206$143,151,388$225,905,735$0$0$0
Other revenue$46,510,349$49,924,097$55,654,353$0$28,448,717$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$46,510,349$49,924,097$55,654,353$0$0$0$0$0
Other$0$0$0$0$28,448,717$0$0$0
Other expenses$0$0$0$0$-55,027,737$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$-55,027,737$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$191,439$68,790$0
40$160,393$61,880$0
40$144,482$70,193$0
40$194,394$50,598$0
40$152,239$49,862$2,500
40$153,928$26,094$0
40$174,457$57,401$2,500
40$186,300$45,666$6,272
40$209,772$2,643$12,807
40$146,039$36,228$0
40$359,406$48,318$9,138
40$258,693$180,429$5,370
40$494,944$141,321$72,343
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings21
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$22,058$0$0
$0$337,352$206,051$0
$0$94,560$1,305$3,500
$0$166,063$0$0
$0$69,818$0$1,255
$0$125,242$0$0
$0$65,970$0$0
$0$42,886$0$0
$0$42,599$0$0
$0$284,512$0$0
$0$45,403$0$0
$0$55,659$0$0
$0$147,724$0$0
$0$91,086$0$0
$0$50,715$0$1,255
$0$82,740$0$0
$0$32,797$0$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20061,599
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-1,755,145$96,445,658$64,480,826
Program service revenue
Program service revenue 1000000$000$0$21,174,437
Program service revenue 2000000$000$0$19,436,629
Program service revenue 3000000$000$0$3,138,646
Program service revenue 4000000$0Royalty income excluded by section 512(b)(2)$2,056,146$0
Program service revenue 5000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$722,516$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investmentsPassive income activities with controlled organizations$39,890Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,648,913$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$6,470,978$0
Net rental income or (loss) from real estate
debt-financed propertyLessors of nonresidential buildings (except miniwarehouses)$-6,268,39900$0$0
not debt-financed propertyPassive income activities with controlled organizations$8,901Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$-670,683$0
Net rental income or (loss) from personal propertyRental of personal property$7,43900$0$0
Other investment incomeOther financial vehicles$1,062,81000$0$0
Gain or (loss) from sales of assets other than inventoryPassive income activities with controlled organizations$-276,112Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$83,508,612$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory452220$3,280,08000$0$20,731,114
Other revenueMotion picture and sound recording industries$390,246Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$1,709,176$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
541254106100%$70,854,238$34,998,023
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$143,779$51,578$1,870
$131,458$41,817$0
$143,080$27,501$0
$130,894$26,794$0
$127,161$22,140$0
Total number of other employees paid over $50,000282
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
19992000200120022003200420052006
Total$123,672,351$146,800,671$133,963,365$129,083,950$115,903,481$125,890,178$140,203,560$144,756,184
Gifts, grants, and contributions received$29,290,129$42,290,549$31,069,221$31,120,662$25,459,000$29,287,825$39,401,415$39,926,676
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$75,862,983$76,762,468$72,612,135$69,399,312$73,943,010$74,744,398$75,572,137$75,599,223
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$18,070,825$27,875,950$31,698,284$28,563,976$17,740,417$23,915,710$25,325,952$30,319,952
Net income from unrelated business activities not included above$448,414$-128,296$-1,416,275$0$-1,238,946$-2,057,755$-95,944$-1,089,667
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$146,517,120
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$146,517,120
Lobbying nontaxable amount$1,000,000
Grassroots nontaxable amount$250,000
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$19,357,856$17,705,027$1,652,829
Gross receipts or sales less returns and allowances$11,255,748$0$0
Cost of goods sold$2,294,172$0$0
Gross profit$8,961,576$0$8,961,576
Capital gain net income$-81,604$0$-81,604
Net gain$431,490$0$431,490
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-1,690,089$0$680,069
Rent income$27,920$15,771$12,149
Unrelated debt-financed income$10,699,482$16,823,320$-6,123,838
Interest, annuities, royalties, and rents from controlled organizations$856,847$810,635$46,212
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$108,161$55,301$52,860
Other income$44,073$0$44,073
Deductions Not Taken Elsewhere (for 2008)
Total deductions$9,613,319
Compensation of officers, directors, and trustees$21,929
Salaries and wages$1,031,533
Repairs and maintenance$151,593
Bad debts$34,533
Interest$62,060
Taxes and licenses$8,530
Charitable contributions$0
Depreciation$146,470
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$414,711
Excess exempt expenses$0
Excess readership costs$52,860
Other deductions$689
Unrelated business taxable income$-7,960,490
Unrelated business taxable income before net operating loss deduction$-7,960,490
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-7,960,490
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Colonial Williamsburg FoundationPO BOX 1776, Williamsburg, VA 23187-1776VA1938-04$462,907,140
2Mount Vernon Ladies Association Of The UnionPO BOX 110, Mount Vernon, VA 22121-0110VA1938-04$193,550,910
3Marine Corps Heritage Foundation3800 Fettler Park Dr Ste 104, Dumfries, VA 22025-2044VA1979-11$18,364,745
4Virginia Historical SocietyPO BOX 7311, Richmond, VA 23221-0311VA1941-09$14,580,048
5Robert E Lee Memorial Association483 Great House Rd, Stratford, VA 22558-0001VA1933-03$6,188,643
6Association For The Preservation Of Virginia Antiquities204 W Franklin St, Richmond, VA 23220-5012VA1941-08$3,974,524
7Foundation For Historic Christ Church IncorporatedPO BOX 24, Irvington, VA 22480-0024VA1958-12$830,185
8Eastern Shore Of Va Historical SocietyPO BOX 179, Onancock, VA 23417-0179VA1972-10$489,376
9Historic Polegreen Church FoundationPO BOX 2111, Mechanicsvlle, VA 23116-0011VA1992-06$474,160
10Yamhill County Historical SocietyPO BOX 484, Lafayette, OR 97127-0484OR1971-01$153,941
11National Society Of The Sons Of The American Revolution1100 Mulberry Road, Martinsville, VA 24112VA1944-08$124,009
12Washington County Historical And Fine Arts Tr Inc135 W Washington St, Hagerstown, MD 21740-4709MD1977-05$122,791
13Wreaths Across America4 Point Street, Columbia Falls, ME 04623ME2007-08$4,668,061
14The Woodrow Wilson Presidential Library FoundationPO BOX 24, Staunton, VA 24402-0024VA1939-10$1,139,807
15Virginia Civil War Trails Inc401 N 3rd St, Richmond, VA 23219-1705VA2000-05$483,807
16Virginia Trust For Historic Preservation614 Oronoco Street 614 Oronoco Stre, Alexandria, VA 22314VA1968-10$127,504
17Alexandria Arts Safari Inc, Dona Nobis Pacem Foundation401 North Saint Asaph, Alexandria, VA 22314VA1997-07$0
18Clinch Mountain Cultural CenterPO BOX 203, Gate City, VA 24251VA1999-03$0
19National Society Colonial Dames Xvii Century, Virginia State Society Colonial Dames Xvii CenturyPo Box 157, Meadowview, VA 24361-0157VA1963-03$0
20National Society Of The Daughters Of The American Revolution, Blue Ridge Chapter Nsdar165 Hillsman Lane, Lynchburg, VA 24501VA1949-07$0
Number of organizations performing similar types of work
Alaska3
Alabama6
Arkansas5
Arizona5
California30
Colorado6
Connecticut17
District of Columbia13
Delaware5
Florida11
Georgia14
Hawaii4
Iowa10
Idaho1
Illinois15
Indiana13
Kansas8
Kentucky11
Louisiana7
Massachusetts20
Maryland12
Maine11
Michigan9
Minnesota7
Missouri13
Mississippi7
Montana3
North Carolina14
North Dakota1
Nebraska2
New Hampshire4
New Jersey10
New Mexico2
New York53
Ohio24
Oklahoma5
Oregon10
Pennsylvania33
Rhode Island8
South Carolina7
South Dakota3
Tennessee9
Texas30
Utah3
Virginia26
Vermont7
Washington11
Wisconsin12
West Virginia8
Total548

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