The James Madison University Foundation provides prudent investment policy and stewardship to sustain and grow financial support for the University, while collaborating with the University to create innovative avenues of giving and to meet critical funding initiatives.
Key facts about James Madison University Foundation Inc
In short: James Madison University Foundation Inc gave $15.3M across 2 grants in 2025 (avg $7.6M), mostly in Virginia. Source: 2025 IRS Form 990.
- EIN
- 23-7156305
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $15,258,623
- Grants made (2025)
- 2
- Average grant
- $7,629,312
- Median grant
- $7,629,312
- Total assets
- $271,465,754
- Primary geography
- Virginia (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$271.5M
+15.5% YoY
Annual Giving
$15.3M
-4.0% YoY
Grant Count
2
+0.0% YoY
Avg Grant Size
$7.6M
-4.0% YoY
How James Madison University Foundation Inc gives
- Giving grew 54% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
About James Madison University Foundation Inc
Based on IRS filings
James Madison University Foundation Inc is a public charity focused on Education, based in Harrisonburg, VA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $271.5M in total assets. In 2025, it awarded 2 grants totaling $15.3M. Net investment income was $8.8M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 2 itemized 2025 grant dollars.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $9.9M (2022) to $17.1M (2023). In 2025 it made 2 grants totaling $15.3M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was James Madison University ($15.2M). Together the top 2 received $15.3M.
Grant Size Distribution
9 grants across all recorded years
The most common grant size was $5M or more: 5 grants of 9 (56%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| James Madison University Harrisonburg, VA | Cash Grants: Scholarships - $9,824,947, Budget Recovery - $2,192,375, Salary Support - $3,062,449 and Capital Projects - $8,800. | $15,238,623 |
| James Madison Innovations Harrisonburg, VA | To support students within the micro-incubator program that will launch viable startup companies. | $20,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $271,465,754 | $234,955,587 | $214,401,774 |
| Revenue | $37,668,356 | $48,716,381 | $21,589,923 |
| Expenses | $21,163,538 | $21,309,809 | $21,367,072 |
| Net Investment Income | $8,756,612 | $23,977,018 | $2,750,445 |
Data update history
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2019 (received by the IRS April 28, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 3, 2021)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 6, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 12, 2026)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
James Madison University Foundation Inc is led by Warren K Coleman, CEO on every filing since 2019; 3 of 26 officers listed in 2025 are compensated.
Officers on the 2025 filing
Warren K Coleman
CEO
On filings since 2019
45 hrs/week
$114K (2019) → $253K (2025)
David S Kay
Chair
Trustee → Vice Chair, 2022
Vice Chair → Chair, 2024
On filings since 2019
1 hr/week
No compensation reported
A Jerry Benson
Trustee
On filings since 2019
1 hr/week
No compensation reported
Ellen W Meyer
Trustee
On filings since 2019
1 hr/week
No compensation reported
Enrico Gaglioti
Trustee
On filings since 2019
1 hr/week
No compensation reported
F Claiborne Johnston III
Trustee
On filings since 2019
1 hr/week
No compensation reported
James E Hartman
Trustee
On filings since 2019
1 hr/week
No compensation reported
James L Riley
Trustee
On filings since 2019
1 hr/week
No compensation reported
Jennifer E Shirkey
Trustee
On filings since 2019
1 hr/week
No compensation reported
Joseph K Funkhouser II
Trustee
On filings since 2019
1 hr/week
No compensation reported
Linda W Cross
Trustee
Vice Chair & Acting Chair → Chair, 2020
Chair → Trustee, 2022
On filings since 2019
1 hr/week
No compensation reported
Michael S Walden
Trustee
On filings since 2019
1 hr/week
No compensation reported
Nicholas L Langridge
Trustee & Ex-Officio
On filings since 2019
1 hr/week
No compensation reported
Darrel Branch
Trustee
On filings since 2020
1 hr/week
No compensation reported
Jarl Bliss
Trustee
On filings since 2021
1 hr/week
No compensation reported
Paul M Thompson
Trustee
On filings since 2021
1 hr/week
No compensation reported
Robin Reifsnider
Trustee
On filings since 2021
1 hr/week
No compensation reported
Heather Hedrick
Trustee
On filings since 2022
1 hr/week
No compensation reported
J Barry Purcell III
Trustee
Chair → Trustee, 2024
On filings since 2022
1 hr/week
No compensation reported
Owen Wilson
Trustee
On filings since 2022
1 hr/week
No compensation reported
Towana H Moore
Trustee & Ex-Officio
On filings since 2022
1 hr/week
No compensation reported
John Alouf
Trustee
On filings since 2023
1 hr/week
No compensation reported
Curtis Pulliam
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Cheryl L Lindsay
Vice President & Chief Financial Officer
On filings since 2019
40 hrs/week
$104K (2019) → $146K (2025)
Tammy KC Balser
Secretary & Senior Acctg Manager - Operations
On filings since 2019
39 hrs/week
$76K (2019) → $101K (2025)
Jon Offley
Vice Chair
Trustee → Vice Chair, 2024
On filings since 2019
1 hr/week
No compensation reported
Former officers (8)
- Former: Ronald C Devine (2019–2023) — Trustee
- Former: Spencer R Stouffer II (2019–2022) — Trustee
- Former: Charles W King Jr. (2019–2021) — Trustee & Ex-Officio
- Former: John Barry Purcell III (2019–2021) — Vice Chair
- Former: Christine W Johnson (2019–2020) — Trustee
- Former: Jeffrey E Tickle (2019–2020) — Trustee
- Former: Larry W Caudle Jr. (2019–2020) — Trustee
- Former: W Cliff Wood Jr. (2019) — Former Vice Chair & Acting Chair
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $253K, to Warren K Coleman (CEO). 3 officers or directors reported compensation on that filing.
Frequently asked questions about James Madison University Foundation Inc
How much does James Madison University Foundation Inc give each year?
James Madison University Foundation Inc gave $15.3M across 2 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $15.9M across 2 grants.
How large is James Madison University Foundation Inc?
James Madison University Foundation Inc reported $271.5M in total assets on its 2025 IRS Form 990. Its revenue that year was $37.7M.
What is James Madison University Foundation Inc?
James Madison University Foundation Inc is a public charity focused on Education, based in Harrisonburg, VA. It holds $271.5M in total assets as of 2025.
Where does James Madison University Foundation Inc operate?
James Madison University Foundation Inc has awarded grants in Virginia.
What is James Madison University Foundation Inc's EIN?
James Madison University Foundation Inc's EIN (Employer Identification Number) is 23-7156305. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching James Madison University Foundation Inc by hand.
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