2019-03-18T09:30:36-05:00 2018-06-30 KPMG LLP 1676 INTERNATIONAL DRIVE McLean VA 22102 990 2017-07-01 540485595 UNIVERSITY OF VIRGINIA ALUMNI ASSOCIATION % MARGARET ANDERSON UNIV 4342439000 PO BOX 400314 CHARLOTTESVILLE VA 22904 MARGARET ANDERSON CFO 4342439009 2019-02-20 true Kay L Thies P01404047 7032868000 2019-02-22 167.68.102.5 54028020190775000004 2019-03-18 P 100E805FC66F7BC3A832FDE36948523654C87E03 EB2737A96B8F377BD085BED9F3BA68158C374A96 2017 2019-02-21 02:37:17Z Jenifer G Andrasko 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 51812772 false X WWW.ALUMNI.VIRGINIA.EDU X 1838 VA BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UVA BY SERVING ALL ALUMNI & STUDENTS, SERVING AS THE VOICE & CONSCIENCE OF ALUMNI, & SERVING THE UNIV. & ITS MISSION 38 38 114 2141 602303 0 45821423 41585809 7400033 7417815 668554 775280 411713 334131 54301723 50113035 55051191 45044772 0 0 6635030 7254588 0 0 6087976 5657404 9782137 67343625 62081497 -13041902 -11968462 346772023 379201329 107569983 120419196 239202040 258782133 BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY OF VIRGINIA BY SERVING ALL ALUMNI AND STUDENTS, SERVING AS THE VOICE AND CONSCIENCE OF ALUMNI, AND SERVING THE UNIVERSITY AND ITS MISSION. false false 47658574 45044772 1361690 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 RELATED FOUNDATIONS AND HUNDREDS OF ENDOWMENTS AND RESTRICTED ACCOUNTS FOR ORGANIZATIONS 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. 4334390 4537917 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 THE YOUNGEST AND OLDEST ALUMNI PROVIDE ADDITIONAL OPPORTUNITIES TO RECONNECT WITH THE UNIVERSITY THROUGHOUT A LIFETIME. ADDITIONAL PROGRAMMING INCLUDES SOCIAL AND EDUCATIONAL EVENTS SURROUNDING FOOTBALL GAMES AND MORE THAN 150 STUDENT EVENTS DESIGNED TO BUILD COMMUNITY AND CLASS IDENTITY. 2002499 915905 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. 53995463 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 693 0 true 114 true true true false false false false true true false false false false X 38 38 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 KY ME MD MA MI MN NH NJ NY NC OK OR PA RI SC TN UT VA WA WV WI X X MARGARET ANDERSON 4342439000 ALUMNI HALL CHARLOTTESVILLE VA 229030446 X Jennifer S Draper Board of Managers 1.0 0.0 X 0 0 0 Meredith B Jenkins Chair 1.0 0.0 X X 0 0 0 N William Jarvis Board of Managers 1.0 0.0 X 0 0 0 Ashley T Manning Board of Managers 1.0 0.0 X 0 0 0 Bang H Trinh Board of Managers 1.0 0.0 X 0 0 0 Carolyn P Meade Board of Managers 1.0 0.0 X 0 0 0 Charles Rotgin Jr Board of Managers 1.0 0.0 X 0 0 0 Charles W McDaniel Board of Managers 1.0 0.0 X 0 0 0 Christian D Searcy Board of Managers 1.0 0.0 X 0 0 0 Cory L Alexander Board of Managers 1.0 0.0 X 0 0 0 Courtney Byrd Metz Board of Managers 1.0 0.0 X 0 0 0 E Ross Baird Board of Managers 1.0 0.0 X 0 0 0 Elizabeth A Smith Board of Managers 1.0 0.0 X 0 0 0 J Brady Lum Board of Managers 1.0 0.0 X 0 0 0 Julious P Smith Jr Vice-Chair 1.0 0.0 X X 0 0 0 Karen R Stokes Board of Managers 1.0 0.0 X 0 0 0 Louis A Sarkes Jr Board of Managers 1.0 0.0 X 0 0 0 Patricia B Woodard Board of Managers 1.0 0.0 X 0 0 0 Puja Seam Board of Managers 1.0 0.0 X 0 0 0 Raj R Doshi Board of Managers 1.0 0.0 X 0 0 0 Richard T McKinless Board of Managers 1.0 0.0 X 0 0 0 Shannon O Pierce Board of Managers 1.0 0.0 X 0 0 0 Susan K Blank MD Board of Managers 1.0 0.0 X 0 0 0 Susan P Campbell Board of Managers 1.0 0.0 X 0 0 0 Teresa A Sullivan Board of Managers 1.0 0.0 X 0 0 0 Thomas B Mangas Board of Managers 1.0 0.0 X 0 0 0 Timothy J Ingrassia Board of Managers 1.0 0.0 X 0 0 0 Whittington W Clement Board of Managers 1.0 0.0 X 0 0 0 Zena K Howard Board of Managers 1.0 0.0 X 0 0 0 James G Aldige IV Board of Managers 1.0 0.0 X 0 0 0 Jocelyn E Diaz Board of Managers 1.0 0.0 X 0 0 0 Katherine A Moore Board of Managers 1.0 0.0 X 0 0 0 Marc B Moyers Board of Managers 1.0 0.0 X 0 0 0 Mathias J Paco Board of Managers 1.0 0.0 X 0 0 0 Maurie D McInnis Board of Managers 1.0 0.0 X 0 0 0 Frank J Quayle III Board of Managers 1.0 0.0 X 0 0 0 Clyde W Robinson Board of Managers 1.0 0.0 X 0 0 0 Paul R Shin MD Board of Managers 1.0 0.0 X 0 0 0 Donna R Arehart VP of Finance 40.0 0.0 X 217427 0 35278 Jenifer G Andrasko President & CEO (7/17-12/17) 40.0 0.0 X 168276 0 9488 Wayne D Cozart VP of Development 40.0 0.0 X 170531 0 21244 Richard Gard VP of Communications 40.0 0.0 X 160696 0 48419 Jason E Life Director of Alumni Engagement 40.0 0.0 X 120629 0 39702 Margaret M Anderson Managing Director UVA Fund 40.0 0.0 X 143536 0 31950 Mary C Bass Director of Endowment 40.0 0.0 X 118202 0 17690 Matthew L Brandon Director of Development 40.0 0.0 X 122974 0 28356 Debbie Jordan DIRECTOR OF GIFT PROCESSING 40.0 0.0 X 117427 0 23717 C Thomas Faulders III Former President & CEO 40.0 0.0 X 302894 0 35954 1642592 0 291798 13 true true false University of Virginia Investment M PO Box 400215 Charlottesville VA 22904 Investment Mgmt Fees 628293 LANE PRESS PO BOX 130 BURLINGTON VT 05402 PRINTING PUBLISHER 467614 UNIVERSITY OF VIRGINIA PO BOX 400201 Charlottesville VA 22904 postage/repairs/main 489213 Martin Horn 210 Carlton Rd Charlottesville VA 22902 Construction/Renov. 898516 Aramark ServiceMaster 1101 Market St Philadelphia PA 19107 Repairs/Maintenance 336125 9 1189641 1605135 38791033 3143964 41585809 UVA Contractual 900099 4194967 4194967 Admin Fees 900099 1361691 1361691 Commissions 900099 225017 225017 Advertising 511120 693608 91305 602303 EVENT REGISTRATION FEES 900099 894865 894865 47667 47667 7417815 785584 785584 0 188120 188120 146011 146011 0 146011 146011 1689433 1699737 -10304 -10304 -10304 0 0 0 0 0 0 0 0 0 0 50113035 6815512 602303 1109411 44291454 44291454 753318 753318 0 0 1030423 457245 507402 65776 151964 50148 50148 51668 4104173 3460251 136279 507643 502777 392616 60184 49977 1093007 775271 205731 112005 372244 273594 53762 44888 295880 92109 182232 21539 24459 240 24219 55143 254 54889 0 0 421286 421286 111146 82172 28974 100372 60661 2912 36799 712947 496552 18087 198308 188797 154025 1963 32809 0 248440 122406 90722 35312 73966 52395 3002 18569 0 98673 9524 89149 0 0 359423 176165 131277 51981 154689 125547 15465 13677 ALUMNI AFFAIRS 1407097 1407097 PRINTING AND PUBLICATIONS 761076 761076 BAD DEBT EXPENSE 4768743 10867 4757876 62081497 53995463 1998058 6087976 X 0 0 20391073 21733302 9337240 5036522 0 0 0 0 0 0 0 0 0 0 193052 208142 10940508 6252960 4948614 4687548 75808156 87561957 224855810 246401590 0 0 0 0 11238078 13572268 346772023 379201329 1520882 1958580 0 0 0 0 0 0 0 0 0 0 0 0 0 0 106049101 118460616 107569983 120419196 X 72554181 77820587 99651029 104361612 66996830 76599934 239202040 258782133 346772023 379201329 X -11968462 30891673 656882 X false true X true false X 41852619 41603153 44091896 45821423 41585809 214954900 0 0 41852619 41603153 44091896 45821423 41585809 214954900 0 214954900 1534327 1691431 915682 1082395 1119715 6343550 0 0 0 0 0 0 221298450 28188840 0.97133 0.97140 X 239202040 40396167 31245667 8941588 43120153 258782133 220971462 44693086 29721285 8940083 47243710 239202040 223067962 42719535 -4202011 7740351 32873673 220971462 206154138 40359031 19474539 7071897 35847849 223067962 176154962 40664754 39000571 7126569 42539580 206154138 0.30070 0.29610 0.40320 true false 0 112388 112388 8021721 4912475 3109246 2130779 1251458 879321 0 675620 89027 586593 4687548 GROWTH EQUITY 21746646 F LONG/SHORT EQUITY 59268864 F REAL ESTATE 14585216 F CREDIT 45397740 F RESOURCES 19652697 F CASH AND ACCRUALS 6710334 F BUYOUT 15675301 F BONDS 47733374 F VENTURE CAPITAL 15631418 F 246401590 0 RELATED ORGANIZATIONS 115455950 OTHER LIABILITIES 1045978 ANNUITY & LIFE INCOME OBLIGATIONS 1958688 118460616 X 81240304 30891673 656882 31548555 49691749 421286 421286 50113035 61660211 61660211 421286 421286 62081497 Form Sch D Part V Line 4 The Association's endowments consist of approximately 3,400 individual funds established for a variety of purposes in furtherance of the association's mission, including both 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. FORM SCH 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 $ 1,059,710 Change in value of trusts and annuities ($402,828) TOTAL: $ 656,882 East Asia and the Pacific Program Services Student research & aid 12915 Europe (Including Iceland and Greenland) Program Services Student research & aid 77743 North America Program Services Student research & aid 7677 South Asia Program Services Student research & aid 10712 Sub-Saharan Africa Program Services Student research & aid 41258 150305 150305 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) 44291454 STUDENT, FACULTY AND PROGRAM SUPPORT 1 GRANTS AND SCHOLARSHIPS 381 753318 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 ENDOWMENTS, SCHOLARSHIPS AND RESTRICTED ACCOUNTS FOR ORGANIZATIONS AND UNITS ACCROSS THE UNIVERSITY COMMUNITY. DETAILED RECORDS OF ALL GIFTS, SCHOLARSHIPS AND ENDOWMENT FUNDS RECEIVED BY THE ASSOCIATION ARE MAINTAINED. THE ACCOUNTING SOFTWARE UTILIZED BY THE UVA FUND PROVDIES AN ACCURATE AND DETAILED HISTORY OF ALL ENDOWMENT FUNDS BY ACCOUNT BALANCE AND GRANTS MADE. ALL GRANT REQUESTS ARE REVIEWED PRIOR TO PAYMENT TO ENSURE THAT 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 Donna R Arehart VP of Finance 181940 0 2863 0 32624 0 18480 0 16798 0 252705 0 0 0 Jenifer G Andrasko President & CEO (7/17-12/17) 130000 0 25000 0 13276 0 0 0 9488 0 177764 0 0 0 Wayne D Cozart VP of Development 142890 0 2543 0 25098 0 14543 0 6701 0 191775 0 0 0 Jason E Life Director of Alumni Engagement 117963 0 2318 0 348 0 21006 0 18696 0 160331 0 0 0 Margaret M Anderson Managing Director UVA Fund 135588 0 7318 0 630 0 24911 0 7039 0 175486 0 0 0 Matthew L Brandon Director of Development 107100 0 5197 0 10677 0 11230 0 17126 0 151330 0 0 0 Richard Gard VP of Communications 147142 0 2863 0 10691 0 29548 0 18871 0 209115 0 0 0 C Thomas Faulders III Former President & CEO 193077 0 77878 0 31939 0 27000 0 8954 0 338848 0 0 0 Schedule J Part I, Line 1 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 EMPLOYEES TAXABLE WAGES FOR THE YEAR. SOCIAL CLUB DUES ALLOWANCE: DONNA AREHART AND MOLLY BASS BOTH 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 $420/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. Tom Faulders - $4,166 2. Jenifer Andrasko - $4,045 3. Donna Arehart - $2,500 4. Molly Bass - $1,875 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 alumni associations. X 272 1829327 FMV X HORSES 20 1184898 FMV X OTHER 49 129739 FMV 10 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 18 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. A FINAL REVIEW IS CONDUCTED DURING THE AUDIT COMMITTEE REPORT AT THE NEXT FULL BOARD OF MANAGERS MEETING. 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 WILL BE 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 DURING FISCAL YEAR 2019. 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 ASSOCIATIONS 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 2016-17. THE COMPENSATION COMMITTEE DOCUMENTS THE DELIBERATION AND ALL DECISIONS MADE. DISCLOSURE Form 990 Part VI Line 19 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 $1,059,710 Change in Value of Trusts & Annuities ($ 402,828) ------------ TOTAL $ 656,882 THE JEFFERSON TRUST FOR THE UNIV OF VA 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 GRANT PROGRAM VA 0 0 NA