Overview
What is Virginia Tech Foundation Inc?
Virginia Tech Foundation Inc is a nonprofit organization based in Blacksburg, Virginia, with an address at 902 Prices Fork Road 4000. The organization's primary mission is to generate funding from private sources and manage assets to supplement state appropriations, tuition, and other sources of funds for Virginia Tech. The Foundation provides financial assistance to students, additional operating support to colleges and departments, assists in funding major building projects, and offers seed capital for new university initiatives. Additionally, it manages Virginia Tech's endowment and deploys capital in ways that benefit both the university and its regions. The Foundation currently employs 76 individuals in carrying out its mission.
Official website here: www.vtf.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 92% (Four-Star out of Four Star rating)
The Virginia Tech Foundation Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With an overall score of 92%, the foundation has demonstrated exceptional standards in areas such as independent board governance and financial oversight, ensuring that it operates with a high degree of transparency and responsibility.
Key strengths include a 100% score in accountability metrics, such as having a majority of independent board members and robust policies in place for conflict of interest and whistleblowing. Additionally, the foundation showcases impressive financial ratios, with 78.34% of expenses directed towards its programs and a fundraising efficiency ratio of $0.10, indicating effective resource management.
Despite its positive evaluation, potential donors may want to consider the foundation's liabilities to assets ratio of 35.45%, which suggests a moderate level of indebtedness. Overall, the Virginia Tech Foundation Inc stands out as a financially sound organization committed to its mission, but it's essential for stakeholders to remain informed about its financial health over time.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Tech Foundation Inc legitimate?
Virginia Tech Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Tech Foundation Inc 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: $1,195,325
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.vtf.org
What is the mission statement of Virginia Tech Foundation Inc?
The Virginia Tech Foundation Inc plays a crucial role in supporting the programs of Virginia Tech by managing and disbursing private gifts. Its mission goes beyond just receiving donations; it invests and manages private assets for the benefit of the university. The foundation's primary objective is to foster growth, progress, and general welfare at Virginia Tech by generating funding through private sources and managing assets effectively. It provides financial assistance to students, supplements operational funds for colleges and departments, and assists in funding major building projects. The Virginia Tech Foundation also manages the university's endowment and deploys capital in ways that serve both the interests of the university and its regions.
Official website here: www.vtf.org
Who is the CEO of Virginia Tech Foundation Inc?
Elizabeth A Mcclanahan is the Chair of Virginia Tech Foundation Inc. The CEO's salary of Virginia Tech Foundation Inc is $300,000 and their total compensation is $330,314.
Official website here: www.vtf.org
What is the revenue of Virginia Tech Foundation Inc?
Virginia Tech Foundation Inc's revenue in 2022 was $317,072,936.
Official website here: www.vtf.org
Who are the executives of Virginia Tech Foundation Inc and what are their salaries?
The average compensation at Virginia Tech Foundation Inc during 2022 was $15,728. There are 76 employees at Virginia Tech Foundation Inc.
Here are 44 key members and their salaries (Virginia Tech Foundation Inc's CEO's salary is $300,000 and their total compensation is $330,314):
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- Other: $138,249
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- Other: $37,466
- Compensation: $300,000
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- Other: $30,314
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- Other: $54,813
- Compensation: $508,178
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- Compensation: $227,438
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- Other: $33,307
- Compensation: $223,109
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- Other: $37,049
Official website here: www.vtf.org
Where can I find the form 990 for Virginia Tech Foundation Inc?
Virginia Tech Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vtf.org
Learn more at the official website: www.vtf.org
Mission Statement of Virginia Tech Foundation Inc
Virginia Tech Foundation Inc is a dedicated organization that plays a crucial role in supporting the programs and growth of Virginia Tech. The foundation's mission revolves around receiving, investing, and managing private assets for the benefit of the university. By doing so, it supplements state appropriations, tuition, and other sources of funding, allowing Virginia Tech to thrive.
The Virginia Tech Foundation actively generates financing from private donors and aggressively manages its assets. This financial assistance is then disbursed to students in the form of scholarships, as well as to colleges and departments for additional operating support. The foundation also contributes to the funding of major building projects and seeds new university initiatives with capital. In addition, it initiates significant projects as requested by the university.
Beyond financial assistance, the Virginia Tech Foundation manages the university's endowment. It deploys capital in ways that serve the interests not only of Virginia Tech but also of its regions. Through these efforts, the foundation fosters and promotes the growth, progress, and general welfare of the university.
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Impact
October, 2024
Virginia Tech Foundation Inc plays a vital role in enhancing the educational landscape at Virginia Polytechnic Institute and State University (Virginia Tech) through its multifaceted support. By receiving, managing, and disbursing private gifts, the foundation effectively supplements state appropriations and tuition, allowing for the expansion and enrichment of academic programs.
The foundation’s impact extends to providing financial assistance to students, which not only alleviates the burden of educational costs but also promotes access and equity within the student body. Additionally, it offers operational support to various colleges and departments, ensuring they have the resources needed to thrive.
The foundation is instrumental in initiating and funding major building projects that enhance the university’s infrastructure, directly contributing to a better educational environment. Furthermore, it provides seed capital for innovative university initiatives, fostering an atmosphere of creativity and progress.
Managing Virginia Tech's endowment, the foundation strategically deploys capital to benefit both the university and its surrounding regions. In summary, Virginia Tech Foundation Inc significantly contributes to the growth, progress, and welfare of Virginia Tech through its robust financial management and committed support for educational excellence.
This information is meant to be a general summary of Virginia Tech Foundation Inc. 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 2022.
- Investment Income: $75,971,891
- Program Service Revenue: $26,495,037
- Gross Receipts: $2,625,608,289
Assets and Liabilities:
- Total Assets: $2,672,087,433
- Total Liabilities: $956,281,596
- Net Assets: $1,715,805,837
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GRANTS & CONTRACTS WVTF
Revenue
$8,403,578
DEVELOPMENT & MANAGEMENT ENDOWMEN
Revenue
$6,141,885
MISC REVENUES
Revenue
$5,518,067
AFFILIATE MEMBERSHIP PROGRAM
Revenue
$4,328,019
SALES
Revenue
$1,283,140
Organization Details
Founding Year
1948
Phone
(540) 231-5751Principal Officer
Elizabeth A Mcclanahan
Main Address
902 PRICES FORK ROAD 4000, BLACKSBURG, VA, 24061
Website
www.vtf.orgNTEE Category
Code: B110 - Education
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