Virginia Tech Foundation Inc

Organization Overview

Virginia Tech Foundation Inc is located in Blacksburg, VA. The organization was established in 1949. 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 06/2021, Virginia Tech Foundation Inc employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Tech Foundation Inc 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 06/2020, Virginia Tech Foundation Inc generated $222.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $139.2m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION RECEIVES, MANAGES, AND DISBURSES PRIVATE GIFTS IN SUPPORT OF PROGRAMS AT VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).

Describe the Organization's Program Activity:

Part 3 - Line 4a

VIRGINIA TECH FOUNDATION SUPPORTS THE PROGRAMS OF VIRGINIA TECH. THE FOUNDATION DOES THIS BY GENERATING FUNDING FROM PRIVATE SOURCES AND AGGRESSIVELY MANAGING ITS ASSETS TO SUPPLEMENT STATE APPROPRIATIONS, TUITION, AND OTHER SOURCES OF FUNDS. THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO STUDENTS, ADDITIONAL OPERATING SUPPORT TO COLLEGES AND DEPARTMENTS, ASSISTS IN THE FUNDING OF MAJOR BUILDING PROJECTS, PROVIDES SEED CAPITAL FOR NEW UNIVERSITY INITIATIVES, AND INITIATES MAJOR PROJECTS AS REQUESTED BY THE UNIVERSITY. IN ADDITION, THE FOUNDATION MANAGES VIRGINIA TECH'S ENDOWMENT. THE FOUNDATION DEPLOYS CAPITAL IN WAYS THAT SERVE THE INTERESTS NOT ONLY OF THE UNIVERSITY, BUT ALSO OF ITS REGIONS.


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Outside Vendors & Contractors

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$1,239,442
Mb Contractors Inc
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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$163,472,809
Investment income $18,880,227
Tax Exempt Bond Proceeds $61,835
Royalties $5,059
Net Rental Income $8,577,821
Net Gain/Loss on Asset Sales $4,396,513
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $26,722
Miscellaneous Revenue$0
Total Revenue $221,999,686

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Virginia Tech Foundation Inc has recieved totaling $36,500.

Awarding OrganizationAmount
Merryman Charitable Foundation

Evington, VA

PURPOSE: GENERAL OPERATIONS

$20,000
Mountain Laurel Foundation

Wilmington, DE

PURPOSE: GENERAL PURPOSES

$10,000
The Huether Foundation Inc

Phoenix, MD

PURPOSE: UNRESTRICTED

$5,000
The Lucas-Hathaway Charitable Trust

Blacksburg, VA

PURPOSE: EDUCATIONAL OPPORTUNITIES AND INTERSHIPS FOR STUDENTS AT HAHN GARDEN. AWARD FOR ACACEMIC EXCELLENCE.

$1,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,241,790,413
Earnings$308,274,911
Admin Expense$27,669,523
Net Contributions$97,351,162
Other Expense$17,904,603
Grants$18,122,900
Ending Balance$1,583,719,460

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