Overview
What is Virginia Commonwealth University School Of Business Foundation?
The Virginia Commonwealth University School of Business Foundation is a nonprofit organization dedicated to supporting and promoting the activities and mission of the School of Business at Virginia Commonwealth University. Located in Richmond, Virginia, the foundation manages and distributes assets to fund programs within the school, aiming to educate students, achieve teaching excellence, and promote scholarly research. One of its significant contributions is owning a nonresidential property, which is leased to Virginia Commonwealth University for a symbolic annual rent of $1. This property, housing the main teaching and activity facility for the School of Business, has a future rental value imputed as a liability by the foundation. The foundation's mission is to assist, support, and foster the activities and mission of the School of Business, thereby benefiting its programs.
Official website here: www.business.vcu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The Virginia Commonwealth University School Of Business Foundation received a perfect score of 100% from Charity Navigator, signifying exceptional accountability and financial health. This rating is significant as it highlights the foundation's commitment to transparency and responsible financial management, with all key metrics reflecting strong performance.
Organizational strengths are evident in the foundation's governance structure, which includes a fully independent board and robust auditing practices. Indicators such as a 93.17% program expense ratio suggest that a significant portion of resources is directed toward fulfilling its mission rather than administrative costs. The foundation also maintains comprehensive policies related to conflict of interest, whistleblower protections, and document retention.
While the foundation's metrics indicate high levels of accountability, it is essential for potential donors and stakeholders to consider the foundation's impact and effectiveness beyond financial ratios. The absence of any reported material diversions of assets and its proactive measures in governance are commendable, but ongoing evaluation of program outcomes will be crucial for sustaining its impressive standing.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Commonwealth University School Of Business Foundation legitimate?
Virginia Commonwealth University School Of Business Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Commonwealth University School Of Business Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $112,813
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.business.vcu
What is the mission statement of Virginia Commonwealth University School Of Business Foundation?
The Virginia Commonwealth University School of Business Foundation's mission is centered around supporting and promoting the activities and mission of the School of Business at Virginia Commonwealth University. The foundation solicits, manages, and distributes assets to enhance programs within the business school, thereby contributing to the education of students, the pursuit of teaching excellence, and the advancement of scholarly research. Additionally, the foundation owns property that is leased to Virginia Commonwealth University for use in business classes and activities. The primary role of the foundation is to assist, support, and foster the objectives of the School of Business, thereby benefiting its programs and initiatives.
Official website here: www.business.vcu
What is the revenue of Virginia Commonwealth University School Of Business Foundation?
Virginia Commonwealth University School Of Business Foundation's revenue in 2023 was $5,736,553.
Official website here: www.business.vcu
Who are the executives of Virginia Commonwealth University School Of Business Foundation and what are their salaries?
Here are 32 key members and their salaries:
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- Related: $70,806
- Other: $28,443
Official website here: www.business.vcu
Where can I find the form 990 for Virginia Commonwealth University School Of Business Foundation?
Virginia Commonwealth University School Of Business Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.business.vcu
Learn more at the official website: www.business.vcu
Mission Statement of Virginia Commonwealth University School Of Business Foundation
The Virginia Commonwealth University School of Business Foundation's mission is centered around assisting, supporting, and fostering the activities and mission of the School of Business at Virginia Commonwealth University. This nonprofit organization plays a crucial role in soliciting, managing, and distributing assets for programs within the School of Business. Through these activities, it provides valuable resources to educate students, promote teaching excellence, and stimulate scholarly research. Additionally, the foundation owns property that is leased to Virginia Commonwealth University for use in School of Business classes and activities. This commitment to the School of Business enables the organization to significantly contribute to its growth and development.
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Impact
October, 2024
Virginia Commonwealth University School of Business Foundation significantly enhances the educational landscape and academic prowess of the VCU School of Business. By supporting and promoting the school's activities and mission, the Foundation plays a crucial role in providing essential resources for student education, achieving teaching excellence, and fostering scholarly research.
The Foundation actively solicits, manages, and distributes assets to benefit various programs within the School of Business. This not only enriches the educational experience for students but also bolsters the institution's reputation in the academic community. The Foundation's ownership of nonresidential real estate, leased to VCU for a minimal fee, ensures that the vital teaching and activity facilities are readily available for students and faculty.
Through these initiatives, the Foundation contributes to a robust academic environment, helping to cultivate the next generation of business leaders while promoting innovative research and high-quality teaching standards. This commitment to education and support underscores the Foundation's impact on both individual students and the broader business community.
This information is meant to be a general summary of Virginia Commonwealth University School Of Business Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $157,366
- Program Service Revenue: $3,295,978
- Gross Receipts: $8,847,036
Assets and Liabilities:
- Total Assets: $83,833,161
- Total Liabilities: $31,943,333
- Net Assets: $51,889,828
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME - V.C.U.
Revenue
$2,018,414
NON CREDIT COURSE REVENUE
Revenue
$1,277,564
Organization Details
Founding Year
2005
Principal Officer
Laura Kottkamp
Website
www.business.vcuNTEE Category
Code: B024 - Education
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