BBB Wise Giving Report for
Thomas Jefferson Foundation

BBB Wise Giving Report issued July 2011
BBB Wise Giving Report expires July 2013


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Thomas Jefferson Foundation
Address: 931 Thomas Jefferson Parkway
  Charlottesville, VA 22902
Phone: 434-984-9822
Web Address: www.monticello.org
Also known as:Monticello
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BBB Wise Giving Alliance Comments

Formerly known as:Thomas Jefferson Memorial Foundation, Inc.

Year, State Incorporated: 1984, Virginia
Affiliates: None
Stated Purpose: "to conserve, protect, and maintain Monticello in a manner which leaves it enhanced and unimpaired for future generations and to interpret and present Thomas Jefferson to the widest possible audiences, including scholars and the general public."

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Evaluation Conclusions

              

Thomas Jefferson Foundation (TJF) does not meet the following 5 Standards for Charity Accountability.

Standard 3: Frequency and Attendance of Board Meetings - An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.

TJF does not meet this Standard because:

  • The board of directors held two meetings in the past fiscal year.

Standard 12: Detailed Functional Breakdown of Expenses - Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fund raising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.

TJF does not meet this Standard because, in the organization's financial statements, the detailed functional breakdown of expenses:

  • Was not included.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

TJF does not meet this standard because:

  • The organization states it does not have an annual report covering activities conducted in the past year.

Standard 17: Web Site Disclosures - Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.

Thomas Jefferson Foundation, Inc. does not meet this Standard because the organization's website, www.monticello.org, does not include all of the recommended information for those charity websites that solicit for donations. Specifically, it does not include:

  • Total income.
  • Total program expenses.
  • Total fund raising expenses.
  • Total administrative expenses.
  • End of year net assets.
  • Electronic access to the organization’s most recent IRS Form 990.

Standard 18: Privacy for Written Appeals & Internet Privacy - Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.

TJF does not meet this Standard because the privacy policy on this website, www.monticello.org does not indicate:

  • How to contact the charity to review personal information that is collected and request corrections.
  • What security measures are in place to protect personal information that is collected.
In addition, the BBB Wise Giving Alliance requested but did not receive complete information on the organization’s solicitation materials and is unable to verify the organization's compliance with the following Standard for Charity Accountability: 15.
Thomas Jefferson Foundation (TJF) meets the remaining 14 Standards for Charity Accountability.
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Programs

              

TJF owns and operates Monticello, the home of United States founding father Thomas Jefferson. The organization reports that Monticello has welcomed more than 27 million visitors. TJF has worked toward restoration of Monticello, reacquisition and protection of 2,400 acres of land, reacquisition of most of Jefferson's original furnishings, creation of a library, and archaeological research. The organization reports that approximately 60,000 schoolchildren visit Monticello annually. TJF works toward its educational mission through academic and scholarship programs, and through the Robert H. Smith International Center for Jefferson Studies Jefferson Library, providing online resources which are the chief portal for research on Jefferson.

For the year ended December 31, 2010, Thomas Jefferson Foundation's program expenses were:

  
Museum shops and catalog 7,208,769
International Center for Jefferson Studies 3,616,214
Visitor services 2,674,535
Interpretation 2,273,414
Gardens and grounds 1,714,558
Public affairs 1,567,842
Curatorial 907,328
Restoration 430,128
Total Program Expenses: $20,392,788
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Governance

              

Chief Executive : Leslie Greene Bowman, President
Compensation*:
$377,862

Chair of the Board: H. Eugene Lockhart, Jr.
Chair's Profession / Business Affiliation: Chairman of Financial Institutions, Diamond Castle Holdings

Board Size: 16

Paid Staff Size: 372

*2009 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Direct mail, telemarketing, grant proposals, Internet appeals, planned giving, and cause-related marketing.
Fund raising costs were 9% of related contributions. (Related contributions, which totaled $11,232,428, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Thomas Jefferson Foundation's audited financial statements - consolidated for the year ended December 31, 2010.

Source of Funds  
Investment income 11,635,197
Contributions and grants 9,900,431
Museum shops and catalog sales 7,348,018
Admissions 7,346,794
Gifts to endowment 1,025,098
Special Events, net 306,899
Education program fees 195,866
Food service sales 76,308
Royalties and miscellaneous 62,262
Change in split interest agreements 27,378
Total Income $37,924,251


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Uses of Funds as a % of Total Expenses

Programs: 82%  Fund Raising: 4%  Administrative: 14% 

Total income   $37,924,251
  Program expenses $20,392,788
  Fund raising expenses 1,014,633
  Administrative expenses 3,582,089
 
Total expenses   $24,989,510
Income in Excess of Expenses   12,934,741
Beginning net assets   183,170,656
Other Changes in Net Assets (2,248,158)
Ending net assets   193,857,239
Total liabilities   38,214,185
Total assets   $232,071,424

Note: Other changes in net assets in the financial section above include loss from disposition of property (-$2,271), change in allowance for uncollectible contributions receivable (-$121,309), purchases of historic properties and collections (-$253,234), other changes in pension assets and liabilities (-$663,268), and unrealized loss on interest rate swap contract (-$1,208,076).

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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