Virginia Commonwealth University College Of Engineering Foundation
- Assets
- $132.0m
- Revenue
- $12.1m
- Investments
- $94.6m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 09/1996
- Data as of
- 06/2021
- EIN
- 54-1808901
Organization Overview
Virginia Commonwealth University College Of Engineering Foundation is located in Richmond, VA. The organization was established in 1996. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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 Commonwealth University College Of Engineering 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, Virginia Commonwealth University College Of Engineering Foundation generated $12.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $31.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VCU SCHOOL OF ENGINEERING.
Describe the Organization's Program Activity:
SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF THE SCHOOL OF ENGINEERING PROPERTY AND FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip O'connor Former Executive Director | Officer | 40 | $118,837 |
William K Lamp President | OfficerTrustee | 1 | $0 |
William H Goodwin Jr Chairman Emeritus | OfficerTrustee | 1 | $0 |
Laura Kottkamp Executive Director | Officer | 1 | $0 |
Barbara D Boyan Ex Officio Trustee | Trustee | 1 | $0 |
Christopher A Groome Trustee | 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 | $8,461,117 |
| Noncash contributions included in lines 1a–1f | $3,928,014 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,461,117 |
| Total Program Service Revenue | $3,528,464 |
| Investment income | $1,234 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,520 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,076,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,212,674 |
| 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. | $133,356 |
| Compensation of current officers, directors, key employees. | $86,681 |
| 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 | $278,829 |
| Fees for services: Legal | $3,282 |
| Fees for services: Accounting | $23,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $169,647 |
| 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 | $1,225,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,397,372 |
| Insurance | $0 |
| All other expenses | $368,697 |
| Total functional expenses | $31,812,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $1,037,438 |
| Pledges and grants receivable | $1,789,189 |
| 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 | $34,550,506 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $94,595,958 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,546 |
| Total assets | $131,974,636 |
| Accounts payable and accrued expenses | $38,633,037 |
| Grants payable | $31,656,123 |
| 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 | $5,500,000 |
| Other liabilities | $0 |
| Total liabilities | $75,789,160 |
| Net assets without donor restrictions | $16,945,961 |
| Net assets with donor restrictions | $39,239,515 |
| 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 | $131,974,636 |
Grants Awarded
Over the last fiscal year, Virginia Commonwealth University College Of Engineering Foundation has awarded $5,282,932 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA COMMONWEALTH UNIVERSITY PURPOSE: ASSISTANCE IS PROVIDED IN ORDER TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY. | $3,227,590 |
VIRGINIA COMMONWEALTH UNIVERSITY PURPOSE: ASSISTANCE IS PROVIDED IN ORDER TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF | $2,055,342 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Commonwealth University College Of Engineering Foundation has recieved totaling $114.
| Awarding Organization | Amount |
|---|---|
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 02/03/21 | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Endowment Analysis
| Beg. Balance | $59,958,920 |
| Earnings | $21,184,480 |
| Net Contributions | $1,244,822 |
| Other Expense | $7,185,371 |
| Ending Balance | $75,202,851 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Mason University Foundation Inc Fairfax, VA | $459,289,058 | $113,505,085 |
West Virginia Univ Foundation Inc Morgantown, WV | $1,952,164,791 | $155,430,683 |
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |