William & Mary Business School Foundation
To advance the goals of William & Mary's Raymond A. Mason School of Business through philanthropy by providing scholarships, programmatic and operational support, and support for its centers of excellence.
William & Mary Business School Foundation at a glance
In short: William & Mary Business School Foundation gave $1.6M across 1 grant in 2025 (avg $1.6M), mostly in Virginia. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $1,620,568
- +23.9% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $1,620,568
- +23.9% vs 2024
- Median grant
- $1,620,568
- Total assets
- $135,737,107
- +12.9% vs 2024
- Primary geography
- Virginia (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who William & Mary Business School Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was William & Mary ($1.6M).
Grant Size Distribution
7 grants across all recorded years
The most common grant size was in the $1–5M range: 5 grants of 7 (71%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How William & Mary Business School Foundation gives
- Giving held roughly steady from 2022 to 2025 (+15%). Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $856K (2020) to $1.6M (2025). In 2025 it made 1 grant totaling $1.6M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| William & Mary Williamsburg, VA | Student Scholarships | $1,620,568 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $135,737,107 | $16,950,934 | $6,160,562 | $1,620,568 | 1 | $8,127,912 |
| 2024 | $120,268,428 | $8,816,362 | $6,000,946 | $1,308,365 | 1 | $2,945,274 |
| 2023 | $110,015,479 | $9,094,759 | $5,941,991 | $1,182,797 | 2 | $1,439,747 |
| 2022 | $101,508,365 | $25,949,773 | $6,740,718 | $1,408,235 | 2 | $6,130,897 |
| 2021 | $93,537,218 | $9,533,267 | $5,738,863 | $1,297,788 | 1 | $4,167,213 |
| 2020 | $75,937,920 | $9,706,773 | $5,249,475 | $856,015 | 3 | $1,924,974 |
About William & Mary Business School Foundation
Based on IRS filings
William & Mary Business School Foundation is a public charity focused on Education, based in Williamsburg, VA. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $135.7M in total assets. In 2025, it awarded 1 grant totaling $1.6M. Net investment income was $8.1M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
William & Mary Business School Foundation is led by Kimberly Sperling, CEO since 2023 (on filings since 2022); 3 of 32 officers listed in 2025 are compensated.
Officers on the 2025 filing
Kimberly Sperling
CEO
CEO Starting → CEO, 2023
On filings since 2022
40 hrs/week
$111K (2023) → $111K (2025)
Donald L. Lowman
Chair
Secretary → Trustee, 2022
Trustee → Chair, 2025
On filings since 2020
1 hr/week
No compensation reported
Alice Davison
Trustee
On filings since 2020
1 hr/week
No compensation reported
Allison Spivey
Trustee
On filings since 2020
1 hr/week
No compensation reported
Edward T. Tokar
Trustee
On filings since 2020
1 hr/week
No compensation reported
G. Michael Stakias
Trustee
On filings since 2020
1 hr/week
No compensation reported
Karim H. K. Ahamed
Trustee
On filings since 2020
1 hr/week
No compensation reported
Lee Croll
Trustee
On filings since 2020
1 hr/week
No compensation reported
Matthew B. Siano
Trustee
On filings since 2020
1 hr/week
No compensation reported
Michael Matacunas
Trustee
On filings since 2020
1 hr/week
No compensation reported
Nicolas Boel
Trustee
On filings since 2020
1 hr/week
No compensation reported
Richard B. Fisher
Trustee
On filings since 2020
1 hr/week
No compensation reported
Richard C. Kraemer Jr.
Trustee
On filings since 2020
1 hr/week
No compensation reported
Melissa Ballenger
Trustee
On filings since 2021
1 hr/week
No compensation reported
Erwin Van Der Voort
Trustee
On filings since 2022
1 hr/week
No compensation reported
Colleen Drummond
Trustee
On filings since 2023
1 hr/week
No compensation reported
David Burg
Trustee
On filings since 2023
1 hr/week
No compensation reported
John Hyman
Trustee
On filings since 2023
1 hr/week
No compensation reported
Melinda Hancock
Trustee
On filings since 2023
1 hr/week
No compensation reported
Amanda Eversole
Trustee
On filings since 2024
1 hr/week
No compensation reported
Anne McGeorge
Trustee
On filings since 2024
1 hr/week
No compensation reported
Frank Roach
Trustee
On filings since 2024
1 hr/week
No compensation reported
Phil Tuning
Trustee
On filings since 2024
1 hr/week
No compensation reported
Troy Keen
Trustee
On filings since 2024
1 hr/week
No compensation reported
David Musto
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Katherine Neumer
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Stephen Kenny
Trustee
New on the 2025 filing
1 hr/week
No compensation reported
Carla R. King-Johnson
Assistant Treasurer
On filings since 2020
40 hrs/week
$81K (2020) → $110K (2025)
Susan C. Rucker
CFO
On filings since 2020
10 hrs/week
$37K (2020) → $0 (2025)
Kellie Miner-Frazier
Assistant Secretary
On filings since 2023
40 hrs/week
$75K (2023) → $97K (2025)
Barry J. Sharp
Treasurer
On filings since 2020
1 hr/week
No compensation reported
Molly Pieroni
Secretary
Trustee → Secretary, 2025
On filings since 2020
1 hr/week
No compensation reported
Former officers (28)
- Former: Cynthia H. Davis (2020–2024) — Secretary
- Former: David H. Baggs (2020–2024) — Trustee
- Former: Julie Dobson (2020–2024) — Trustee
- Former: Leonard Brooks III (2020–2024) — Trustee
- Former: Paul C. Saville (2020–2024) — Chair
- Former: Raymond A. Mason (2020–2024) — Vice Chair
- Former: Jeffrey F. Rogatz (2023–2024) — Trustee
- Former: J. Edward Coleman (2020–2023) — Trustee
- Former: Shawn Boyer (2020–2023) — Trustee
- Former: Thaddeus R. Shelly III (2020–2023) — Trustee
- Former: Jeff F. Rogatz (2020–2022) — Trustee
- Former: K. Dane Brooksher (2020–2022) — Trustee
- Former: Lawrence B. Pulley (2020–2022) — Trustee
- Former: Douglas M. Wagoner Jr. (2021–2022) — Trustee
- Former: Laura Doherty (2021–2022) — CEO
- Former: Rich C. Kraemer Jr. (2021–2022) — Trustee
- Former: Annamaria Desalva (2022) — Trustee
- Former: Julie Vander Weele (2020–2021) — Trustee
- Former: Terry Thompson (2020–2021) — Trustee
- Former: Richard Bruce (2021) — Trustee
- Former: Charlie Banks (2020) — Trustee
- Former: Doug Wagoner (2020) — Trustee
- Former: James E. Ukrop (2020) — Trustee
- Former: James W. Brinkley (2020) — Trustee
- Former: Michael H. Fitzgerald (2020) — Trustee
- Former: Nicholas J. St George (2020) — Trustee
- Former: Rob W. Estes Jr. (2020) — Trustee
- Former: Roger S. Pratt (2020) — Trustee
Data from IRS Form 990 filings, 2020–2025. "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 $111K, to Kimberly Sperling (CEO). 3 officers or directors reported compensation on that filing.
Frequently asked questions about William & Mary Business School Foundation
How much does William & Mary Business School Foundation give each year?
William & Mary Business School Foundation gave $1.6M across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $1.3M across 1 grant.
How large is William & Mary Business School Foundation?
William & Mary Business School Foundation reported $135.7M in total assets on its 2025 IRS Form 990. Its revenue that year was $17.0M.
What is William & Mary Business School Foundation?
William & Mary Business School Foundation is a public charity focused on Education, based in Williamsburg, VA. It holds $135.7M in total assets as of 2025.
Where does William & Mary Business School Foundation operate?
William & Mary Business School Foundation has awarded grants in Virginia.
What is William & Mary Business School Foundation's EIN?
William & Mary Business School Foundation's EIN (Employer Identification Number) is 23-7079011. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
- Added Form 990 for fiscal year 2025 (received by the IRS May 14, 2026)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 12, 2025)
- IRS filings on file for fiscal years 2020–2024
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