Vmi Foundation

Organization Overview

Vmi Foundation is located in Lexington, VA. The organization was established in 1939. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Vmi Foundation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vmi Foundation 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 06/2021, Vmi Foundation generated $26.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $23.0m during the year ending 06/2021. While expenses have increased by 1.6% 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.

Since 2015, Vmi Foundation has awarded 132 individual grants totaling $107,650,719. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SUPPORT THE VIRGINIA MILITARY INSTITUTE (VMI), A STATE-SUPPORTED SCHOOL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FUNDS RAISED BY THE FOUNDATION ARE USED FOR PROVIDING SCHOLARSHIPS AND OTHER ACADEMIC AND ATHLETIC PROGRAM SUPPORT TO THE VIRGINIA MILITARY INSTITUTE AND ITS RELATED ALUMNI ASSOCIATIONS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bny Mellon Na
Investment Management
$7,338,151
Mcguire Woods Consulting
Legal Services
$751,990
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$19,226,132
Investment income $6,187,650
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $26,799,966

Grants Awarded

Over the last fiscal year, Vmi Foundation has awarded $16,959,674 in support to 20 organizations.

Grant RecipientAmount

VIRGINIA MILITARY INSTITUTE

Org PageRecipient Profile

Lexington, VA

PURPOSE: SCHOLARSHIPS

$5,382,196

VIRGINIA MILITARY INSTITUTE

Org PageRecipient Profile

Lexington, VA

PURPOSE: OTHER

$2,785,414

VIRGINIA MILITARY INSTITUTE

Org PageRecipient Profile

Lexington, VA

PURPOSE: UNDESIGNATED AID

$1,748,760

VIRGINIA MILITARY INSTITUTE

Org PageRecipient Profile

Lexington, VA

PURPOSE: JACKSON HOPE

$1,429,264

VMI ALUMNI ASSOCIATION

Org PageRecipient Profile

Lexington, VA

PURPOSE: ADMINISTRATIVE SUPPORT

$1,380,291

VIRGINIA MILITARY INSTITUTE

Org PageRecipient Profile

Lexington, VA

PURPOSE: INSTRUCTION

$1,355,119
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 27 grants that Vmi Foundation has recieved totaling $1,228,905.

Awarding OrganizationAmount
The Community Foundation Inc

Richmond, VA

PURPOSE: GENERAL PURPOSES

$374,600
V M I Keydet Club

Lexington, VA

PURPOSE: ADMINISTRATIVE SUPPORT

$296,968
Schwab Charitable Fund

San Francisco, CA

PURPOSE: EDUCATION

$188,081
Ayco Charitable Foundation

Cohoes, NY

PURPOSE: EDUCATION

$65,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$64,329
The Savannah Community Foundation Inc

Savannah, GA

PURPOSE: FINANCIAL SUPPORT

$60,360
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$279,133,803
Earnings-$11,137,551
Net Contributions$13,144,986
Other Expense$2,833,526
Grants$10,879,757
Ending Balance$267,427,955

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