Virginia Tech Alumni Association
- Assets
- $5.0m
- Revenue
- $351.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Blacksburg, VA
- Founding
- 01/1969
- Data as of
- 06/2022
- EIN
- 54-0120992
Organization Overview
Virginia Tech Alumni Association is located in Blacksburg, VA. The organization was established in 1969. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Tech Alumni Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Virginia Tech Alumni Association generated $351.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $276.9k during the year ending 06/2022. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ACTIVITIES OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH)
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSFER TO OPERATING BUDGET-AMOUNT TRANSFERRED TO THE ALUMNI ASSOCIATION OPERATING BUDGET WITHIN THE UNIVERSITY TO CARRY OUT PROGRAMS OF THE ASSOCIATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles D Phlegar Executive Vice President | OfficerTrustee | 1 | $0 |
Nathan T Lavinka Vice President | OfficerTrustee | 1 | $0 |
Mark S Lawrence Past President | OfficerTrustee | 1 | $0 |
Rhonda K Arsenault Coo, Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Deseria Creighton-Barney President | OfficerTrustee | 1 | $0 |
Juanisha C Brooks Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $87,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $264,255 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $351,405 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,375 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $207,565 |
| Total functional expenses | $276,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $316,977 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,709,880 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,026,857 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $4,026,857 |
| Net assets with donor restrictions | $1,000,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,026,857 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Virginia Tech Alumni Association has recieved totaling $20,882.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $12,000 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $3,200 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $3,200 |
Mckesson Foundation Dallas, TX PURPOSE: CHARITABLE | $800 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $582 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $550 |
Endowment Analysis
| Beg. Balance | $5,490,275 |
| Earnings | -$186,478 |
| Admin Expense | $69,376 |
| Other Expense | $207,565 |
| Ending Balance | $5,026,856 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Alumni Association Charlottesville, VA | $556,619,387 | $55,406,167 |
United States Naval Academy Alumni Assoc Annapolis, MD | $136,310,345 | $26,897,412 |
General Alumni Assoc Chapel Hill, NC | $118,995,183 | $8,416,070 |
North Carolina State University Alumni Association Raleigh, NC | $63,898,145 | $4,644,432 |
University Of Maryland Alumni Association Inc College Park, MD | $12,691,064 | $3,266,987 |
University Of Kentucky Alumni Association Inc Lexington, KY | $23,880,056 | $3,849,544 |
West Virginia University Alumni Association Inc Morgantown, WV | $18,753,718 | $1,910,317 |
Medical College Of Va Alumni Assoc Of Virginia Commonwealth Univ Richmond, VA | $0 | $190,238 |
Virginia Commonwealth Universi ALUMNI Richmond, VA | $0 | $210,514 |
Duke Alumni Association Inc Durham, NC | $792,785 | $1,542,394 |
V M I Alumni Association Lexington, VA | $3,901,860 | $1,387,698 |
Western Kentucky University Alumni Association Inc Bowling Green, KY | $10,394,906 | $2,845,412 |