Overview
What is Vmi Foundation?
The Vmi Foundation is a nonprofit organization dedicated to raising funds for the Virginia Military Institute (VMI), a state-supported college, and its affiliated alumni associations. Based in Lexington, Virginia, the foundation provides scholarships and other academic and athletic program support to VMI and its related alumni organizations. By focusing on the advancement, promotion, encouragement, welfare, and progress of VMI and its alumni, the foundation plays a crucial role in strengthening the educational institution. Through its efforts, the Vmi Foundation contributes to the success of VMI and its alumni community. Its team of 34 employees works diligently to raise essential funds and support the mission-driven initiatives of the organization.
Official website here: www.vmialumni.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Vmi Foundation has achieved a remarkable 97% rating from Charity Navigator, indicating a high level of accountability and financial health. This rating is solely based on the charity’s performance in accountability and finance, showcasing their commitment to transparency and responsible management of resources. Such a score reflects the organization's strong operational practices and adherence to best practices in nonprofit governance.
One of the foundation's key strengths is its fully independent board, consisting of 28 members, which enhances its governance and decision-making processes. The organization also excels in financial management, with a low liability-to-asset ratio and a high program expense ratio, indicating that a significant portion of its funds is directed towards its mission rather than administrative costs. Additionally, the foundation demonstrates excellent fundraising efficiency, requiring only 5 cents to raise a dollar.
While the Vmi Foundation shows strong performance in various categories, it is essential to remain aware of ongoing evaluations and potential changes in organizational dynamics. Overall, the foundation's financial health and governance structure position it as a trustworthy entity in the nonprofit sector, making it a commendable option for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Vmi Foundation legitimate?
Vmi Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vmi 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: $374,149
Professional Fundraising Fees: $0
Other Salaries and Wages: $908,184
For more financial information, click here
Official website here: www.vmialumni.org
What is the mission statement of Vmi Foundation?
The Vmi Foundation works towards advancing and supporting Virginia Military Institute (VMI), a state-supported college, and its affiliated alumni associations. Its mission encompasses the promotion and encouragement of VMI and its alumni association's welfare and progress. Funds raised by the foundation are allocated to providing academic and athletic program support to VMI and its related alumni associations, primarily through the provision of scholarships.
Official website here: www.vmialumni.org
Who is the CEO of Vmi Foundation?
Crissy S Elliott is the Board Member of Vmi Foundation. The CEO's salary of Vmi Foundation is $0 and their total compensation is $300,445.
Official website here: www.vmialumni.org
What is the revenue of Vmi Foundation?
Vmi Foundation's revenue in 2023 was $36,993,722.
Official website here: www.vmialumni.org
Who are the executives of Vmi Foundation and what are their salaries?
The average compensation at Vmi Foundation during 2023 was $37,716. There are 34 employees at Vmi Foundation.
Here are 32 key members and their salaries (Vmi Foundation's CEO's salary is $0 and their total compensation is $300,445):
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- Related: $287,005
- Other: $13,440
- Compensation: $0
- Related: $188,184
- Other: $29,573
- Compensation: $142,095
- Related: $0
- Other: $12,566
- Compensation: $48,478
- Related: $0
- Other: $13,281
- Compensation: $154,394
- Related: $0
- Other: $506
Official website here: www.vmialumni.org
Where can I find the form 990 for Vmi Foundation?
Vmi Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.vmialumni.org
Learn more at the official website: www.vmialumni.org
Mission Statement of Vmi Foundation
Vmi Foundation, a charitable organization, is dedicated to the betterment of Virginia Military Institute (VMI), a state-supported college, and its alumni association. By raising funds, Vmi Foundation advances, promotes, encourages, and supports VMI's educational and athletic programs. The foundation's efforts extend beyond the college, as it also works to enhance the welfare and progress of the VMI Alumni Association, an integral part of VMI's network that aids the institution through their association with the alma mater and alumni relations.
The financial contributions made by Vmi Foundation play a significant role in the provision of scholarships and academic support to VMI and its affiliated alumni groups. These funds enable the school to continue offering quality education to students, ensuring they receive a well-rounded learning experience. By investing in the future of VMI and its alumni, the foundation fosters a strong sense of community and loyalty among its graduates, who in turn continue to contribute to the institution's growth and success.
In essence, Vmi Foundation acts as a catalyst for progress, helping to maintain the excellence of Virginia Military Institute and fostering a thriving, dedicated community of alumni who support and enhance the institution's mission. Through its unwavering commitment to VMI and its alumni, the foundation plays a vital role in the continued success and development of this esteemed educational institution.
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Impact
October, 2024
Vmi Foundation significantly enhances the educational and athletic experiences at the Virginia Military Institute (VMI) through dedicated fundraising efforts. The funds raised are instrumental in providing scholarships, which help to reduce financial barriers for students, enabling them to pursue their academic goals. Additionally, the foundation supports various academic and athletic programs, ensuring that VMI remains a competitive and comprehensive institution.
By promoting the welfare and progress of VMI and its alumni associations, Vmi Foundation fosters a strong community that not only advances the institute's mission but also reinforces the connections among its graduates. This commitment to support creates a positive impact on the development of future leaders and contributes to the legacy of VMI. The foundation's activities play a vital role in preserving the values and traditions of VMI while promoting excellence in education and athletics.
This information is meant to be a general summary of Vmi 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: $13,419,092
- Gross Receipts: $36,993,722
Assets and Liabilities:
- Total Assets: $584,168,697
- Total Liabilities: $20,653,079
- Net Assets: $563,515,618
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Organization Details
Founding Year
1937
Phone
(540) 464-7383Principal Officer
Crissy S Elliott
Main Address
PO BOX 932, LEXINGTON, VA, 24450
Website
www.vmialumni.orgNTEE Category
Code: B110 - Education
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