Vmi Alumni Agencies Board Inc
- Assets
- $87.6m
- Revenue
- $10.9m
- Investments
- $67.0m
- Employees
- 17
- Location
- Lexington, VA
- Founding
- 02/1988
- Data as of
- 06/2022
- EIN
- 54-1429093
Organization Overview
Vmi Alumni Agencies Board Inc is located in Lexington, VA. The organization was established in 1988. 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 Alumni Agencies Board Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vmi Alumni Agencies Board 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 06/2022, Vmi Alumni Agencies Board Inc generated $10.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $6.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Vmi Alumni Agencies Board Inc has awarded 54 individual grants totaling $21,726,815. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE VIRGINIA MILITARY INSTITUTE (VMI), A STATE-SUPPORTED SCHOOL.
Describe the Organization's Program Activity:
ALL PROGRAM SERVICES WERE FOR THE SUPPORT OF VMI
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen M Maconi CEO Through 10/2021 | Officer | 40 | $278,805 |
David L Prasnicki Chief Executive Officer | Officer | 40 | $204,744 |
Gregory M Cavallaro Senior Major Gift Officer | 40 | $148,375 | |
Crissy S Elliott Chief Financial Officer | Officer | 40 | $139,644 |
Amy F Goetz Chief Communications Officer | Officer | 40 | $102,978 |
John D Adams Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flora Pettit Legal Services | 6/29/20 | $161,068 |
Bny Mellon Na Investment Manangement | 6/29/20 | $366,560 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $60,732 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,009,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,069,802 |
| Total Program Service Revenue | $0 |
| Investment income | $917,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$74,424 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,873,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,983,774 |
| 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. | $735,867 |
| Compensation of current officers, directors, key employees. | $294,347 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $981,742 |
| Pension plan accruals and contributions | $171,823 |
| Other employee benefits | $179,300 |
| Payroll taxes | $124,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $222,423 |
| Fees for services: Accounting | $78,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,017,797 |
| Fees for services: Other | $176,328 |
| Advertising and promotion | $0 |
| Office expenses | $852,609 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $45,976 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,038 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,455 |
| Insurance | $45,662 |
| All other expenses | $5,908 |
| Total functional expenses | $6,673,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $29,513 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $66,997,554 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,606,947 |
| Total assets | $87,634,014 |
| Accounts payable and accrued expenses | $11,504,968 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $36,353,909 |
| 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 | $2,325,036 |
| Other liabilities | $260,491 |
| Total liabilities | $50,444,404 |
| Net assets without donor restrictions | $15,088,730 |
| Net assets with donor restrictions | $22,100,880 |
| 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 | $87,634,014 |
Grants Awarded
Over the last fiscal year, Vmi Alumni Agencies Board Inc has awarded $1,975,498 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Lexington, VA PURPOSE: DEBT SERVICE | $889,415 |
Lexington, VA PURPOSE: INTERCOLLEGIATE ATHLETICS | $604,463 |
Lexington, VA PURPOSE: UNDESIGNATED AID | $400,000 |
Lexington, VA PURPOSE: PHYSICAL PLANT | $81,620 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Vmi Alumni Agencies Board Inc has recieved totaling $132,567.
| Awarding Organization | Amount |
|---|---|
V M I Keydet Club Lexington, VA PURPOSE: ADMINISTRATIVE SUPPORT | $73,792 |
Vmi Foundation Lexington, VA PURPOSE: ADMINISTRATIVE SUPPORT | $58,775 |
Endowment Analysis
| Beg. Balance | $7,467,052 |
| Earnings | $96,454 |
| Net Contributions | $7,004,928 |
| Grants | $180,804 |
| Ending Balance | $14,387,630 |