Old Dominion Athletic Foundation
- Assets
- $75.3m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 08/1964
- Data as of
- 12/2021
- EIN
- 54-6051933
Organization Overview
Old Dominion Athletic Foundation is located in Norfolk, VA. The organization was established in 1964. 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. Old Dominion Athletic 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 12/2021, Old Dominion Athletic Foundation generated $6.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $8.3m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O SUPPLEMENTAL INFORMATION FOR ORGANIZATION'S MISSION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT TO THE OLD DOMINION UNIVERSITY ATHLETIC PROGRAMS, TO INCLUDE SCHOLARSHIPS FOR STUDENT ATHLETES, AND PROVIDE PROGRAM SUPPORT FOR THE NCAA DIVISION I SPORTS PROGRAMS IN WHICH THE UNIVERSITY COMPETES. PROGRAM SUPPORT INCLUDES FUNDING FOR TRAVEL AND TRANSPORTATION, SUPPLIES, EQUIPMENT AND MAINTENANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Scott Hardison First Vice Chair | OfficerTrustee | 0.3 | $0 |
Kelly Till Second Vice Chair | OfficerTrustee | 0.3 | $0 |
Thomas F Cherry Secretary/treasurer | OfficerTrustee | 0.3 | $0 |
Richard A Mcgrath Chair | OfficerTrustee | 0.3 | $0 |
Alonzo Brandon Ex-Officio/executive Director | Officer | 10 | $0 |
Margaret Libby Assistant Treasurer | Officer | 9 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Services Inc Food And Banquet Svc | 12/30/21 | $135,345 |
Taymar Sales U Llc Ticket Sales Mgt Svc | 12/30/21 | $105,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $158,946 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,465,705 |
| Noncash contributions included in lines 1a–1f | $558,174 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,624,651 |
| Total Program Service Revenue | $0 |
| Investment income | $24,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,782 |
| Net Income from Fundraising Events | -$11,571 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,634,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,279,353 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $62,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $250 |
| Fees for services: Other | $112,908 |
| Advertising and promotion | $0 |
| Office expenses | $4,504 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $415,101 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,978 |
| Insurance | $6,533 |
| All other expenses | $259,802 |
| Total functional expenses | $8,282,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $515,144 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,074,615 |
| Accounts receivable, net | $84,992 |
| 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 | $90,712 |
| Investments—publicly traded securities | $9,934,678 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $51,618,525 |
| Total assets | $75,318,666 |
| Accounts payable and accrued expenses | $388,177 |
| Grants payable | $0 |
| 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 | $0 |
| Other liabilities | $345,936 |
| Total liabilities | $734,113 |
| Net assets without donor restrictions | $26,642,353 |
| Net assets with donor restrictions | $47,942,200 |
| 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 | $75,318,666 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Old Dominion Athletic Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Brentwood Foundation Frisco, TX PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $5,000 |
Endowment Analysis
| Beg. Balance | $31,359,824 |
| Earnings | $6,407,297 |
| Net Contributions | $2,631,139 |
| Other Expense | $1,355,070 |
| Ending Balance | $39,043,190 |