James Madison University Foundation
James Madison University Foundation reported $37.7 million in revenue and $21.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $85.16 went to program services, $10.37 to management and general costs and $4.47 to fundraising. Its largest source of revenue was contributions and grants: 70.5% of the total. The highest compensation it reported for one person was $291,700 (CEO). 3 people received more than $100,000 in reportable compensation. Revenue rose 104% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $21MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $38MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 85.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.4% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 70.5% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 3.8% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $291,700 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.38% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 3 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 142.0 | 13.3 |
| Independent voting board members Part VI 1a–1b | 23 of 23 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseScholarships & Fellowships - Includes expenditures for scholarships and fellowships in the form of grants to students, resulting from selection by donor-established criteria or by the James Madison University Foundation's board designation of unrestricted funds
Intercollegiate Athletics - Expenditures for intercollegiate sport programs that provide for JMU students' physical well-being and social and cultural development outside the context of the formal instruction program. It also includes expenditures related to the administration, operation, and promotion of intercollegiate athletics
Institutional Support - Includes expenditures for central and administrative-level activities concerned with management and long-range planning for the entire institution. It also includes expenditures for operations related to human resources, postal services, finance, resource planning, information technology, and for advancement to maintain relations with the community, alumni and other constituents and to conduct activities related to institution-wide development
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO Director/trustee, officer, 45 hrs/week | $252,761 | $0 | $38,939 | $291,700 |
| Vice President/Chief Financial Officer Director/trustee, officer, 40 hrs/week | $145,695 | $0 | $35,483 | $181,178 |
| Secretary, Senior Acctg Manager - Operations Director/trustee, officer, 39 hrs/week | $101,218 | $0 | $33,651 | $134,869 |
3 people received more than $100,000 in reportable compensation from James Madison University Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $487K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b23 · 23 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 53
- Volunteers Part I, line 626
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Aramark Campus Services JMU Dining Services | $694,379 |
Individuals listed as contractors are left out. 3 contractors were paid more than $100,000 in all.
Private foundation grants it received
22 private foundations reported grants to James Madison University Foundation totaling $195K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from James Madison University Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for James Madison University Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 James Madison University Foundation spent in FY2025, $85.16 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Foundation at Nj Institute of TechnologyNewark, NJ · revenue $38M · programs 91.6% · FY2025
- The Hutchison SchoolMemphis, TN · revenue $38M · programs 88.3% · FY2025
- Purpose Built Schools AtlantaAtlanta, GA · revenue $38M · programs 92.8% · FY2025
- Aspen Global Change InstituteBasalt, CO · revenue $38M · programs 95.4% · 2024
- Perspectives Charter SchoolsChicago, IL · revenue $38M · programs 94.1% · FY2025
Questions people ask
How much of James Madison University Foundation's spending goes to programs?
In the fiscal year ending June 30, 2025, James Madison University Foundation reported that 85.2% of its $21.2 million in expenses went to program services, 10.4% to management and general and 4.5% to fundraising (Form 990, Part IX).
How much does James Madison University Foundation pay its top executive?
The largest total compensation James Madison University Foundation reported for one person in the fiscal year ending June 30, 2025 was $291,700, for the role of CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does James Madison University Foundation get its money?
Of $37.7 million in revenue in the fiscal year ending June 30, 2025, 70.5% came from contributions and grants and 3.8% from program service revenue (Form 990, Part VIII).
Is James Madison University Foundation a registered charity?
The IRS lists EIN 23-7156305 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202601329349304940 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024 (amended), object 202541279349303204 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202430799349301618 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202300629349300620 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202210739349301121 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202131239349302213 · read the filing
All filings for EIN 23-7156305: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.