2020-03-05T16:06:22-06:00 2019-06-30 KPMG LLP 8350 Broad Street Suite 900 McLean VA 22102 990 2018-07-01 540485595 UNIVERSITY OF VIRGINIA ALUMNI ASSOCIATION % MARGARET ANDERSON UNIV 4342439000 PO BOX 400314 Charlottesville VA 22904 MARGARET ANDERSON CFO 2019-12-05 true Raymond Ly P01205643 7032868000 2019-12-15 167.68.102.5 54028020200655000000 2020-03-05 P EB2737A96B8F377BD085BED9F3BA68158C374A96 BF3CB9F8126AAB78CD312EFF2FC993F47D46195A 2018 2020-09-23 17:36:50Z JENIFER G ANDRASKO 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 47380896 false X www.alumni.virginia.edu X 1838 VA BUILD THE STRONGEST BOND AMONG ALUMNI and BETWEEN ALUMNI AND THE UNIVERSITY OF VIRGINIA WHILE REPRESENTING THE INDEPENDENT VOICE AND PERSPECTIVE OF ALUMNI. 40 40 143 2721 626128 0 41585809 36452281 7417815 7756950 775280 1112054 334131 315705 50113035 45636990 45044772 37945332 0 0 7254588 8394496 0 0 3889827 9782137 8064032 62081497 54403860 -11968462 -8766870 379201329 389422193 120419196 121684649 258782133 267737544 BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY BY SERVING ALL ALUMNI AND STUDENTS; BEING THE CENTER FOR ENGAGING AND CONNECTING THE GLOBAL UVA COMMUNITY; ACTING AS A CONDUIT TO KEEP ALUMNI INFORMED AND PROVIDE VEHICLES TO SHARE THEIR VOICE; AND SERVING THE UNIVERSITY AND ITS MISSION. false false 38883298 37945332 1462447 THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, SERVES THE UVA COMMUNITY BY OFFERING FINANCIAL AND ENDOWMENT MANAGEMENT SERVICES. WITH MORE THAN 3,700 ACCOUNTS, THE UVA FUND SERVES-IN A COST-EFFICIENT AND EFFECTIVE MANNER-APPROXIMATELY 600 STUDENT ORGANIZATIONS, 200 ALUMNI CLUBS, 13 ASSOCIATED ORGANIZATIONS AND HUNDREDS OF ENDOWMENTS AND RESTRICTED ACCOUNTS FOR GROUPS AND UNITS ACROSS UVA. THE ASSOCIATION ALSO MANAGES AND ADMINISTERS NUMEROUS STUDENT SCHOLARSHIPS, AND, THROUGH ITS JEFFERSON TRUST PROGRAM, PROVIDES ANNUAL GRANTS TO PROJECTS THAT ENHANCE THE UNIVERSITY AS A PREEMINENT GLOBAL INSTITUTION OF HIGHER LEARNING. 6874406 4732042 HOMECOMINGS & REUNIONS - THROUGH A SERIES OF EVENTS HELD THROUGHOUT THE YEAR, THE ASSOCIATION WELCOMES THOUSANDS OF ALUMNI BACK TO UVA IN MEANINGFUL, OFTEN EDUCATIONAL, WAYS THAT STRENGTHEN THE BOND BETWEEN ALUMNI AND THEIR ALMA MATER. THE STEADILY GROWING REUNIONS WEEKENDS BRING ALUMNI BACK BASED ON CLASS YEAR, WHILE OTHER REUNIONS GEARED FOR SPECIFIC DEMOGRAPHIC AND/OR AFFINITY GROUPS PROVIDE UNIQUE OPPORTUNITIES TO RECONNECT WITH THE UNIVERSITY THROUGHOUT A LIFETIME. ADDITIONAL PROGRAMMING INCLUDES SOCIAL AND EDUCATIONAL EVENTS SURROUNDING SPORTING EVENTS AND MORE THAN 150 STUDENT EVENTS DESIGNED TO BUILD COMMUNITY AND CLASS IDENTITY. 1749584 936333 ALUMNI COMMUNICATIONS - THE ASSOCIATION IS A VIBRANT CENTER OF COMMUNICATIONS FOR ALUMNI, PARENTS, STUDENTS AND FACULTY. USING A VARIETY OF MEDIA PLATFORMS THE ASSOCIATION PROVIDES TIMELY AND ACCURATE COMMUNICATION CHANNELS TO THE ASSOCIATION'S CONSTITUENTS, KEEPING THEM WELL INFORMED AND WELL CONNECTED TO THE UNIVERSITY AND TO ONE ANOTHER. THE ASSOCIATION PUBLISHES THE AWARD-WINNING QUARTERLY UVA MAGAZINE, WHICH IS DISTRIBUTED TO ALL ALUMNI AND STUDENTS. THIS PUBLICATION IS SUPPLEMENTED BY WEBSITES, SOCIAL MEDIA, ELECTRONIC NEWSLETTERS AND VIDEOS. 47507288 true true false false false false false false false true true true false false true true true false false false true false false false false false false true true true false false false false false false false false true false false false true false false false false true 635 0 true 143 true true true false false false false true true false false false false false false X 40 40 false false false false false false false true true false false true true true true true false true true false AK AR CA CO DC KS KY ME MD MA MI MN NV NH NJ NY NC ND OK OR PA RI SC TN UT WA WV WI X X MARGARET ANDERSON 4342439000 ALUMNI HALL CHARLOTTESVILLE VA 229030446 X James G Aldige IV Manager 1.0 0.0 X 0 0 0 Cory L Alexander Manager 1.0 0.0 X 0 0 0 E Ross Baird Manager 1.0 0.0 X 0 0 0 Susan K Blank MD Manager 1.0 0.0 X 0 0 0 Jocelyn E Diaz Manager 1.0 0.0 X 0 0 0 Jennifer S Draper Manager 1.0 0.0 X 0 0 0 Patricia K Epps Vice-Chair 1.0 0.0 X X 0 0 0 Brett J Gallagher Manager 1.0 0.0 X 0 0 0 Tatia Daniel Granger Manager 1.0 0.0 X 0 0 0 Zena K Howard Manager 1.0 0.0 X 0 0 0 Meredith B Jenkins Manager 1.0 0.0 X 0 0 0 Thomas B Mangas Manager 1.0 0.0 X 0 0 0 Ashley Thompson Manning Manager 1.0 0.0 X 0 0 0 Charles W McDaniel Manager 1.0 0.0 X 0 0 0 Maurie D McInnis Manager 1.0 0.0 X 0 0 0 Richard T McKinless Manager 1.0 0.0 X 0 0 0 Carolyn P Meade Manager 1.0 0.0 X 0 0 0 Courtney C Byrd Metz Manager 1.0 0.0 X 0 0 0 Katherine A Moore Manager 1.0 0.0 X 0 0 0 Marc B Moyers Manager 1.0 0.0 X 0 0 0 MPaul Nolde Manager 1.0 0.0 X 0 0 0 Mathias J Paco Manager 1.0 0.0 X 0 0 0 Visha M Patel Manager 1.0 0.0 X 0 0 0 Shannon O Pierce Manager 1.0 0.0 X 0 0 0 Frank J Quayle III Manager 1.0 0.0 X 0 0 0 Clyde W Robinson Manager 1.0 0.0 X 0 0 0 Charles Rotgin Jr Manager 1.0 0.0 X 0 0 0 Louis A Sarkes Jr Chair 1.0 0.0 X X 0 0 0 Puja Seam Manager 1.0 0.0 X 0 0 0 Paul R Shin MD Manager 1.0 0.0 X 0 0 0 Elizabeth A Smith Manager 1.0 0.0 X 0 0 0 Julious P Smith Manager 1.0 0.0 X 0 0 0 Karen R Stokes Manager 1.0 0.0 X 0 0 0 Bang H Trinh Manager 1.0 0.0 X 0 0 0 Leslie H Williams Jr Manager 1.0 0.0 X 0 0 0 Patricia B Woodard Manager 1.0 0.0 X 0 0 0 Whittington W Clement Manager 1.0 0.0 X 0 0 0 Timothy J Ingrassia Manager 1.0 0.0 X 0 0 0 James A Ryan Manager 1.0 0.0 X 0 0 0 Douglas B Smith Manager 1.0 0.0 X 0 0 0 Margaret M Anderson Treasurer & CFO (Start 11/18) 40.0 0.0 X 152533 0 38054 Jenifer G Andrasko President & CEO 40.0 0.0 X 362517 0 62773 Donna R Arehart Treas/VP Finance(Until 11/18) 40.0 0.0 X 264637 0 42476 Wayne D Cozart VP Development 40.0 0.0 X 168714 0 38147 Richard Gard VP Communications 40.0 0.0 X 167310 0 33385 Lily E West COO 40.0 0.0 X 160866 0 26857 Jason E Life Director Alumni Engagement 40.0 0.0 X 133780 0 43470 Courtney M Bibb Director Development 40.0 0.0 X 133317 0 29146 Matthew L Brandon Director Development 40.0 0.0 X 122565 0 11874 Alexander B Newell Director Technology Services 40.0 0.0 X 119840 0 36777 Judy Le Director Communications 40.0 0.0 X 112151 0 36045 1898230 0 399004 25 false true false MARTIN HORN 210 CARLTON RD Charlottesville VA 22902 Construction/Renovat 897055 UNIVERSITY OF VIRGINIA INVESTMENT M PO BOX 400215 CHARLOTTESVILLE VT 22904 INVESTMENT MGMT FEES 684185 LANE PRESS PO BOX 130 BURLINGTON VA 05402 PRINTING PUBLISHER 446728 UNIVERSITY OF VIRGINIA PO BOX 400201 Charlottesville VA 22904 Mail Room/Repairs/Ma 348939 ARAMARK SERVICEMASTER 1101 Market St Philadelphia PA 19107 Repairs/Maintenance 329942 13 702043 1423384 34326854 2296300 36452281 UVA Contractual 900099 4184061 4184061 Admin Fees 900099 1462447 1462447 Commissions 900099 188801 188801 Advertising 511120 729388 103260 626128 EVENT REGISTRATION FEES 900099 1119372 1119372 72881 72881 7756950 1127673 1127673 0 183300 183300 132405 132405 0 132405 132405 1728287 1743906 -15619 -15619 -15619 0 0 0 0 0 0 0 0 0 0 45636990 7130822 626128 1427759 35079806 35079806 2865526 2865526 0 0 1737561 1024972 653386 59203 0 4835769 3413667 731591 690511 609934 414843 132291 62800 787382 588240 94445 104697 423850 288112 81669 54069 523770 105943 224906 192921 22125 22125 35260 60 35200 0 0 695657 695657 111071 82173 28898 105553 61530 2041 41982 631346 461581 14807 154958 137844 126650 6119 5075 0 250250 124057 85919 40274 112573 65166 15700 31707 0 129851 7385 122466 0 0 355262 176157 119778 59327 160506 93599 54828 12079 BAD DEBT EXPENSE 2269739 12000 2257739 ALUMNI AFFAIRS 1696431 1696412 0 19 PRINTING AND PUBLICATIONS 826794 826794 54403860 47507288 3006745 3889827 X 0 0 21733302 32584207 5036522 3443516 0 0 0 0 0 0 0 0 0 0 208142 144936 11000712 6618161 4687548 4382551 87561957 95084485 246401590 249957231 0 0 0 0 13572268 3825267 379201329 389422193 1958580 1196078 0 0 0 0 0 0 0 0 0 0 0 0 0 0 118460616 120488571 120419196 121684649 X 77820587 79135552 104361612 107749698 76599934 80852294 258782133 267737544 379201329 389422193 X -8766870 17767259 -44978 X false true X true false X 41603153 44091896 45821423 41585809 36452281 209554562 0 0 41603153 44091896 45821423 41585809 36452281 209554562 0 209554562 1691431 915682 1082395 1119715 1443378 6252601 0 0 215807163 30539046 0.97103 0.97130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 258782133 35750238 18183656 8774699 36203784 267737544 239202040 40396167 31245667 8941588 43120153 258782133 220971462 44693086 29721285 8940083 47243710 239202040 223067962 42719535 -4202011 7740351 32873673 220971462 206154138 40359031 19474539 7071897 35847849 223067962 0.29557 0.30198 0.40244 true false 112388 112388 2871380 5153307 2871380 817471 1370546 817471 581312 94308 581312 4382551 GROWTH EQUITY 24729774 F LONG/SHORT EQUITY 63302778 F REAL ESTATE 15862583 F CREDIT 44404509 F RESOURCES 17144448 F CASH AND ACCRUALS 11101031 F BUYOUT 13500565 F BONDS 39880499 F VENTURE CAPITAL 20031044 F 249957231 0 RELATED ORGANIZATIONS 116777495 OTHER LIABILITIES 1943785 ANNUITY & LIFE INCOME OBLIGATIONS 1767291 120488571 X 62663615 17767259 -44978 17722281 44941334 695656 695656 45636990 53708204 53708204 695656 695656 54403860 SCHEDULE D PART V LINE 4 THE ASSOCIATION'S ENDOWMENTS CONSIST OF APPROXIMATELY 3,700 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES IN FURTHERANCE OF THE ASSOCIATION'S MISSION, INCLUDING DONOR-RESTRICTED ENDOWMENT FUNDS, TERM ENDOWMENTS, AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. THE ENDOWMENTS SUPPORT SPECIFIC PROGRAMS, SCHOLARSHIPS, STUDENT ACTIVITES, AND UNIVERSITY-RELATED ORGANIZATIONS. SCHEDULE D, PART X, LINE 2 THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXES AS DEFINED BY SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND CLASSIFIED AS A PUBLIC CHARITY UNDER 509(A)(1) OF THE CODE. THE ASSOCIATION IS REQUIRED TO RECOGNIZE THE EFFECT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN BASED ON A 'MORE LIKELY THAN NOT' OF BEING SUSTAINED BY A TAXING AUTHORITY THRESHOLD. THE ASSOCIATION DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS REQUIRED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI PART XI, LINE 2D AMOUNT REPRESENTS CHANGE IN FAIR VALUE OF BENEFICIAL INTERESTS IN TRUSTS ($291,271) CHANGE IN VALUE OF TRUSTS AND ANNUITIES $246,293 TOTAL: ($44,978) true East Asia and the Pacific Program Services Student research & aid 30286 Europe (Including Iceland and Greenland) Program Services Student research & aid 126583 North America Program Services Student research & aid 35091 South America Program Services Student research & aid 1030 South Asia Program Services Student research & aid 25158 Sub-Saharan Africa Program Services Student research & aid 37311 Central America and the Caribbean Program Services Student research & aid 88 255547 255547 false false false false false false Form Sch F Part I THE UVA FUND PROVIDES FUNDS FOR AN EXTENSIVE RANGE OF MULTIDISCIPLINARY WORK REFLECTING INTERNATIONAL INTERESTS. THESE FUNDS PROMOTE THE ENGAGEMENT OF FACULTY AND STUDENTS IN THE DEVELOPMENT OF MULTIDISCIPLINARY SCHOLARSHIP AND RESEARCH PROJECTS THAT ADDRESS EQUAL AND SOCIAL JUSTICE, SUSTAINABLE ECONOMIC DEVELOPMENT, PUBLIC HEALTH, GLOBAL INTERCONNECTION, AND PUBLIC SERVICE. FUNDS ARE USED TO PAY FOR SPEAKERS, TRAVEL AND HANDS-ON LEARNING OPPORTUNITIES FOR STUDENTS AND FACULTY. true UNIVERSITY OF VIRGINIA PO BOX 40229 CHARLOTTESVILLE VA 22904 546001796 501(c)(3) 35079806 STUDENT, FACULTY & PROGRAM SUPPORT 1 GRANTS AND SCHOLARSHIPS 1238 2865526 UVA Fund The UVA Fund serves the University community with financial and endowment management services, scholarship administration, donor stewardship, grant assistance and emergency student loans. Form Sch I, PART III THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, MANAGES HUNDREDS OF RESTRICTED ENDOWMENTS, SCHOLARSHIPS AND OPERATING FUNDS FOR OGANIZATIONS AND UNITS ACCROSS THE UNIVERSITY COMMUNITY. DETAILED RECORDS OF ALL GIFTS AND OTHER INCOME ARE MAINTAINED. THE ACCOUNTING SOFTWARE USED BY THE UVA FUND PROVIDES AN ACCURATE AND DETAILED HISTORY OF EXPENDITURES FOR ALL FUNDS BY ACCOUNT. ALL GRANT REQUESTS ARE REVIEWED PRIOR TO PAYMENT TO ENSURE THEY MATCH THE FUND'S PURPOSE, CONFORM TO THE DONOR'S ORIGINAL INTENT, AND THAT ALL RESTRICTIONS ARE MET. X true true X X X X X false false false false false false false true false Margaret M Anderson Treasurer & CFO (Start 11/18) 143373 0 7096 0 2064 0 30723 0 7331 0 190587 0 0 Jenifer G Andrasko President & CEO 267500 0 57500 0 37517 0 43000 0 19773 0 425290 0 0 Wayne D Cozart VP Development 147382 0 4270 0 17062 0 30696 0 7451 0 206861 0 0 Richard Gard VP Communications 151769 0 4379 0 11162 0 15615 0 17770 0 200695 0 0 Lily E West COO 148176 0 2932 0 9758 0 7861 0 18996 0 187723 0 0 Jason E Life Director Alumni Engagement 128524 0 4747 0 509 0 23936 0 19534 0 177250 0 0 Courtney M Bibb Director Development 118987 0 4625 0 9705 0 12361 0 16785 0 162463 0 0 Alexander B Newell Director Technology Services 116004 3394 442 17973 18804 156617 0 Donna R Arehart Treas/VP Finance(Until 11/18) 241936 0 7213 0 15488 0 24915 0 17561 0 307113 0 0 Schedule J Part I, Line 1a FARMINGTON COUNTRY CLUB DUES: THE ALUMNI ASSOCIATION PROVIDES THE PRESIDENT AND CEO WITH A MEMBERSHIP TO THE FARMINGTON COUNTRY CLUB. FARMINGTON IS A SOCIAL CLUB USED BY THE EMPLOYEE FOR BUSINESS AND RECREATIONAL USE. THIS IS CONSIDERED FULLY TAXABLE AND IS THEREFORE INCLUDED IN THE EMPLOYEE'S TAXABLE WAGES FOR THE YEAR. SOCIAL CLUB DUES ALLOWANCE: DONNA AREHART RECEIVED A CLUB DUES ALLOWANCE. THIS IS FULLY TAXABLE AND INCLUDED IN W-2 WAGES. INTRAMURAL SPORTS MEMBERSHIP: THE ALUMNI ASSOCIATION PROVIDES AN INTRAMURAL-RECREATIONAL SPORTS MEMBERSHIP TO ANY EMPLOYEE WISHING TO JOIN. THIS MEMBERSHIP ALLOWS THE EMPLOYEE TO UTILIZE ALL UNIVERSITY RECREATION FACILITIES AND COSTS $430/YEAR PER EMPLOYEE. MEMBERSHIP IS AVAILABLE TO ALL MEMBERS OF THE UNIVERSITY COMMUNITY. EMPLOYEES ARE NOT TAXED ON THE VALUE OF THE SPORTS MEMBERSHIP BECAUSE THE ATHLETIC FACILITIES ARE LOCATED ON UNIVERSITY PREMISES AND OPERATED BY THE UNIVERSITY. THE USE OF THE FACILITIES PASS IS LIMITED TO THE EMPLOYEE ONLY AND IS NOT AVAILABLE TO FAMILY MEMBERS. [I.R.C. SEC. 132(I)(4)] THE ALUMNI ASSOCIATION PAYS FOR SOCIAL CLUB DUES FOR THE FOLLOWING EMPLOYEES: 1. JENIFER ANDRASKO - $6,577 2. DONNA AREHART - $2,500 SCHEDULE J, PART I, LINE 7 DURING ITS ANNUAL REVIEW THE COMPENSATION COMMITTEE OF THE BOARD OF MANAGERS REVIEWS THE COMPENSATION PACKAGE OF THE CEO AND DETERMINES IF AN ANNUAL BONUS IS MERITED AND IF SO, THE AMOUNT. THIS REVIEW CONSIDERS PERFORMANCE AS WELL AS COMPARABILITY WITH SIMILAR POSITIONS AT OTHER INDEPENDENT ALUMNI ASSOCIATIONS AND THE RESULTS OF THE INDEPENDENT EXECUTIVE COMPENSATION ANALYSIS. X 447 1704899 FMV X HORSES 12 551350 FMV X OTHER 75 40051 FMV 2 false true true FORM SCH M PART I LINE 32B THE ALUMNI ASSOCIATION USES INDEPENDENT AGENTS AND BROKERS TO SELL AND PROCESS GIFTS OF SECURITIES. Governing Body Delegation of BOARD Authority Form 990, Part VI, line 1a IN ACCORDANCE WITH ARTICLE X, SECTION 1 OF THE ASSOCIATION'S CORPORATE BYLAWS, THE BOARD OF MANAGERS MAY CREATE AN EXECUTIVE COMMITTEE AND SHALL APPOINT MANAGERS TO SERVE ON IT. THE COMMITTEE SHALL HAVE TWO OR MORE MEMBERS, WITH A MAJORITY OF THE COMMITTEE MEMBERSHIP CONSISTING OF MANAGERS, AND ALL OF WHOM SHALL SERVE AT THE PLEASURE OF THE BOARD. THE CURRENT EXECUTIVE COMMITTEE CONSISTS OF 21 MEMBERS, ALL OF WHICH ARE VOTING MANAGERS OF THE BOARD. PURSUANT TO ARTICLE II, SECTION 2 OF THE CORPORATE BYLAWS, THE EXECUTIVE COMMITTEE OF THE BOARD OF MANAGERS IS EMPOWERED TO ACT ON ANY MATTERS BETWEEN REGULAR BOARD MEETINGS WITH THE FOLLOWING EXCEPTIONS: THE EXECUTIVE COMMITTEE MAY NOT (I) FILL VACANCIES ON THE BOARD OR ON ANY OF ITS COMMITTEES; (II) AMEND THE ARTICLES OF INCORPORATION; (III) ADOPT, AMEND OR REPEAL THESE BYLAWS; (IV) APPROVE A PLAN OF MERGER OR CONSOLIDATION; (V) APPROVE THE SALE, LEASE OR EXCHANGE, OR THE MORTGAGE, PLEDGE OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF THE PROPERTY AND ASSETS OF THE ASSOCIATION; OR (VI) APPROVE REVOCATION OF VOLUNTARY DISSOLUTION PROCEEDINGS. 990 REVIEW PROCESS Form 990 Part VI Line 11b THE 990 IS REVIEWED BY MANAGEMENT AND THE ASSOCIATION'S INDEPENDENT ACCOUNTING FIRM KPMG. FURTHER REVIEW IS PROVIDED BY THE AUDIT COMMITTEE AT A MEETING CALLED SPECIFICALLY FOR THIS PURPOSE. PRIOR TO SUBMISSION THE FORM IS PROVIDED TO THE FULL BOARD OF MANAGERS FOR REVIEW. Conflict of Interest Policy Form 990 Part VI Line 12c ANNUALLY, EACH MEMBER OF THE BOARD OF MANAGERS FILES WITH THE EXECUTIVE DIRECTOR A CONFLICT OF INTEREST DISCLOSURE STATEMENT. IN ADDITION, THIS STATEMENT IS FILED BY FUTURE MEMBERS OF THE BOARD OF MANAGERS AT THE TIME OF THEIR ELECTION. A CONFLICT OR POTENTIAL CONFLICT OF INTEREST IS CONSIDERED TO EXIST IF THE MEMBER OR A MEMBER'S DEPENDENT HAS ANY RELATIONSHIP, INTEREST, OR SITUATION WHICH MIGHT INDICATE A DUALITY OF LOYALTY OR INTEREST. IF A CONFLICT EXISTS, THE MEMBER IS ASKED TO IDENTIFY THE SPECIFIC CONFLICT. ANY MEMBER OF THE BOARD HAVING A CONFLICT OF INTEREST IN CONNECTION WITH ANY MATTER BEFORE THE BOARD SHALL SO INDICATE AT THE TIME AND SHALL NOT TAKE PART IN ANY VOTE WITH RESPECT TO SUCH MATTER. THE MINUTES OF THE MEETING SHALL REFLECT ANY SUCH DISCLOSURE AND ABSTENTION FROM VOTING. IF CONFIDENTIAL INFORMATION WILL BE PRESENTED OR DISCUSSED, THE MEMBER OF THE BOARD WITH THE CONFLICT WILL BE EXPECTED TO EXCUSE HIMSELF/HERSELF DURING THAT PORTION OF THE MEETING. Form 990 Part VI Line 14 THE ASSOCIATION EMPLOYES AN INTERNAL PRACTICE REGARDING DOCUMENT RETENTION WITH REGARD TO ALL OF ITS RECORDS. THIS PRACTICE IS BEING FORMALIZED INTO WRITTEN POLICY DIRECTIVE TO BE REVIEWED AND ADOPTED BY THE BOARD OF MANAGERS. THE ASSOCIATION ANTICIPATES THAT AN ORGANIZATION-WIDE DOCUMENT RETENTION AND DESTRUCTION POLICY WILL BE ADOPTED AND IN PLACE IN FISCAL YEAR 2020. EXECUTIVE COMPENSATION PROCESS Form 990 Part VI LINES 15A & 15B THE EXECUTIVE COMPENSATION PROGRAM AT THE ALUMNI ASSOCIATION OF THE UNIVERSITY OF VIRGINIA (THE ASSOCIATION) IS DESIGNED TO ALIGN THE INTERESTS OF EXECUTIVE OFFICERS WITH THEIR PERFORMANCE. THIS PROGRAM IS BASED ON A PHILOSOPHY THAT THE TOTAL COMPENSATION PACKAGE MUST BE COMPETITIVE WITH SIMILAR POSITIONS IN THE INDUSTRY IN ORDER TO ATTRACT AND RETAIN EXECUTIVE TALENT. THE COMPENSATION COMMITTEE (COMMITTEE) OF THE ASSOCIATION'S BOARD OF MANAGERS IS RESPONSIBLE FOR OVERSIGHT AND ADMINISTRATION OF THE EXECUTIVE COMPENSATION PROGRAM. THE COMMITTEE RETAINS A PROFESSIONAL CONSULTANT TO PROVIDE AN INTERMEDIATE SANCTIONS REVIEW OF THE PRESIDENT AND FIVE HIGHEST PAID POSITIONS AND A MARKET VALUE ANALYSIS OF ALL OTHER MAJOR JOB DESCRIPTIONS ON A TRIENNIAL BASIS. SALARY AND OTHER BENEFITS ARE BENCHMARKED AGAINST THE COMPENSATION PAID TO OFFICERS AND UPPER MANAGEMENT IN COMPARABLE, HIGH-PERFORMING COMPANIES WITH SIMILAR RESPONSIBILITIES. THIS PROFESSIONAL REVIEW WAS LAST PERFORMED IN FISCAL YEAR 2018-19. THE COMPENSATION COMMITTEE DOCUMENTS THE DELIBERATION AND ALL DECISIONS MADE. DISCLOSURE THE ASSOCIATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE ASSOCIATION DOES MAKE ITS FINANCIAL STATEMENTS, FORM 990, AND FORM 990-T AVAILABLE TO THE PUBLIC ON ITS OWN WEBSITE. Other Changes in Net Assets FORM 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF BENEFICIAL INTERESTS IN TRUSTS $ (291,271) CHANGE IN VALUE OF TRUSTS AND ANNUITIES $ 246,293 ------------ TOTAL $ (44,978) THE JEFFERSON TRUST FOR THE UNIV OF VA 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 GRANT PROGRAM VA 998379 32525426 UVAA false false false false false false false false false false false false false false false false false false false JEFFERSON SCHOLARS FOUNDATION M FMV FAR R FMV