Medical College Of Virginia Foundation
- Assets
- $881.3m
- Revenue
- $75.4m
- Investments
- $838.3m
- Employees
- 23
- Location
- Richmond, VA
- Founding
- 10/2007
- Data as of
- 06/2021
- EIN
- 54-6053660
Organization Overview
Medical College Of Virginia Foundation is located in Richmond, VA. The organization was established in 2007. 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, Medical College Of Virginia Foundation employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical College Of Virginia 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, Medical College Of Virginia Foundation generated $75.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $46.0m during the year ending 06/2021. While expenses have increased by 4.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
MCV FOUNDATION INSPIRES, SEEKS, SECURES, AND STEWARDS PHILANTHROPIC RESOURCES FOR VCU HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION, RESEARCH, AND GENERAL EXPENSES FOR VCU HEALTH.
EQUIP., INDIGENT PATIENT CARE, & OTHER
SCHOLARSHIPS AND AWARDS
TO AID, STRENGTHEN, AND EXTEND WORK OF VCU HEALTH (FACULTY SALARIES PAID TO VCU).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Ann Bollmeier President & CEO | Officer | 40 | $391,025 |
Brian Thomas VP & Chief Development Officer | Officer | 40 | $282,306 |
David Silver CFO | Officer | 40 | $247,017 |
Julie Woodward Controller | Officer | 40 | $159,443 |
Ann Deppman Director Of Planned Giving | 40 | $130,749 | |
Eric Peters Director Of Marketing | 40 | $112,676 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lowe Brockenbrough Co Inc Investment Mgmt | 6/29/22 | $969,308 |
Worth Higgins Assoc Inc Printing | 6/29/22 | $232,308 |
Neathawk Dubuque Inc Marketing | 6/29/22 | $201,239 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,161,004 |
| Investment income | $2,478,125 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,030,168 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,393,096 |
| Statement of Expenses | |
|---|---|
| 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. | $1,421,619 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $882,143 |
| Pension plan accruals and contributions | $72,394 |
| Other employee benefits | $395,081 |
| Payroll taxes | $127,266 |
| Fees for services: Management | $53,535 |
| Fees for services: Legal | $71,037 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,444,244 |
| Fees for services: Other | $31,101 |
| Advertising and promotion | $413,446 |
| Office expenses | $153,986 |
| Information technology | $107,637 |
| 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 | $235,536 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $249,667 |
| Insurance | $34,103 |
| All other expenses | $0 |
| Total functional expenses | $46,001,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,250,634 |
| Savings and temporary cash investments | $17,294,540 |
| 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 | $20,751 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $53,116 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $838,325,309 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $562,011 |
| Total assets | $881,335,894 |
| Accounts payable and accrued expenses | $1,726,308 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,226,918 |
| 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 | $5,371,766 |
| Total liabilities | $9,324,992 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $872,010,902 |