Virginia Tech Foundation Inc
- Assets
- $2.3b
- Revenue
- $222.0m
- Investments
- $844.8m
- Employees
- 125
- Location
- Blacksburg, VA
- Founding
- 02/1949
- Data as of
- 06/2020
- EIN
- 54-0721690
Virginia Tech Foundation Inc 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 06/2020, Virginia Tech Foundation Inc employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Virginia Tech Foundation Inc generated $222.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.3% 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.
Form
990
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.
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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Virginia Tech Foundation Inc Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Daniel Ward Cio Endowment | Officer | 40 | $554,552 |
Dr John E Dooley CEO & Secretary Treasurer | OfficerTrustee | 30 | $452,140 |
Ms Terri Mitchell Assistant Secretary | OfficerTrustee | 40 | $228,050 |
Ms Catherine Potter Assoc Vp/general Counsel | 40 | $213,249 | |
Mr Ebenhard Stoddard Investment Manager | 40 | $213,080 | |
Mr Bryan Boehling Investment Manager | 40 | $209,976 |
Virginia Tech Foundation Inc Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Avis Construction Company Inc Construction | 6/29/20 | $7,097,041 |
E C Pace Company Inc Construction | 6/29/20 | $1,330,843 |
Gj Hopkins Inc Construction | 6/29/20 | $1,190,532 |
Cr Henderson Company Inc Construction | 6/29/20 | $463,119 |
National Public Radio Programming Fees | 6/29/20 | $406,560 |
Gj Hopkins Inc Construction | 6/29/20 | $1,190,532 |
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 | $163,472,809 |
| Noncash contributions included in lines 1a–1f | $70,694,559 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163,472,809 |
| Total Program Service Revenue | $15,323,203 |
| 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 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,633,985 |
| 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. | $1,348,718 |
| Compensation of current officers, directors, key employees. | $1,348,718 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,890,155 |
| Pension plan accruals and contributions | $467,606 |
| Other employee benefits | $711,258 |
| Payroll taxes | $1,545,053 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,313 |
| Fees for services: Accounting | $129,477 |
| Fees for services: Lobbying | $41,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $650,919 |
| Fees for services: Other | $0 |
| Advertising and promotion | $381,968 |
| Office expenses | $2,427,133 |
| Information technology | $261,791 |
| Royalties | $0 |
| Occupancy | $1,331,105 |
| Travel | $2,912,769 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $174,929 |
| Interest | $4,588,875 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,856,090 |
| Insurance | $650,002 |
| All other expenses | $17,767,171 |
| Total functional expenses | $139,214,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $144,677,583 |
| Pledges and grants receivable | $151,363,780 |
| Accounts receivable, net | $5,759,908 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $156,749,646 |
| Inventories for sale or use | $1,422,165 |
| Prepaid expenses and deferred charges | $4,954,303 |
| Net Land, buildings, and equipment | $180,683,622 |
| Investments—publicly traded securities | $664,209,034 |
| Investments—other securities | $844,838,582 |
| Investments—program-related | $0 |
| Intangible assets | $2,004,691 |
| Other assets | $96,469,467 |
| Total assets | $2,253,132,781 |
| Accounts payable and accrued expenses | $6,750,026 |
| Grants payable | $0 |
| Deferred revenue | $8,554,773 |
| Tax-exempt bond liabilities | $336,217,172 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,812,159 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $488,043,264 |
| Total liabilities | $844,377,394 |
| Net assets without donor restrictions | $301,266,339 |
| Net assets with donor restrictions | $1,107,489,048 |
| 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 | $2,253,132,781 |
Virginia Tech Foundation Inc Grants Recieved
Over the last fiscal year, we have identified 21 grants that Virginia Tech Foundation Inc has recieved totaling $1,977,217.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $503,908 |
English Foundation-Trust Altavista, VA PURPOSE: UNRESTRICTED | $500,000 |
English Foundation-Trust Altavista, VA PURPOSE: UNRESTRICTED | $500,000 |
National 4-H Council Chevy Chase, MD | | $130,396 |
United Way Of The Greater Lehigh Valley Allentown, PA PURPOSE: DONOR DESIGNATED FOR GENERAL SUPPORT | $78,750 |
Hahn Foundation Orlando, FL PURPOSE: GENERAL OPERATING | $38,705 |
Endowment Analysis
| Beg. Balance | $1,258,695,844 |
| Earnings | -$94,338,336 |
| Admin Expense | $27,042,989 |
| Net Contributions | $137,962,057 |
| Other Expense | $16,567,970 |
| Grants | $16,918,193 |
| Ending Balance | $1,241,790,413 |
Virginia Tech Foundation Inc Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky Medical Services Foundation Inc Lexington, KY | $235,449,897 | $411,887,062 |
University Of Kentucky Research Foundation Lexington, KY | $180,100,323 | $346,768,656 |
The Lord Foundation Of North Carolina Durham, NC | $33,947,928 | $260,177,139 |
Virginia Tech Foundation Inc Blacksburg, VA | $2,253,132,781 | $221,999,686 |
George Mason University Foundation Inc Fairfax, VA | $459,289,058 | $113,505,085 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $543,211,268 | $149,384,875 |
West Virginia Univ Foundation Inc Morgantown, WV | $1,952,164,791 | $155,430,683 |
University Of Louisville Foundation Inc Louisville, KY | $841,865,659 | $66,715,351 |
University Of Virginia Darden School Foundation Charlottesville, VA | $510,801,836 | $75,634,091 |
Nc State Investment Fund Inc Raleigh, NC | $1,829,305,242 | $187,846,779 |
Old Dominion University Research Foundation Norfolk, VA | $32,063,990 | $50,172,760 |
William & Mary Foundation Williamsburg, VA | $868,886,184 | $88,636,871 |
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