Overview
What is Virginia Tech Real Estate Foundation Inc?
Virginia Tech Real Estate Foundation Inc is a nonprofit organization based in Blacksburg, Virginia, with the USAddress at 902 Prices Fork Rd 4000. The primary focus of this foundation is to oversee the ownership, development, and operation of various properties in support of Virginia Tech and the Virginia Tech Foundation. The organization's mission is to engage in any matters related to specific real estate for the benefit of Virginia Tech. The Virginia Tech Real Estate Foundation was established solely to serve the interests of Virginia Tech and the Virginia Tech Foundation, ensuring their growth and development through real estate endeavors.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
The Virginia Tech Real Estate Foundation Inc has received an 83% rating from Charity Navigator, which indicates a solid level of accountability and financial health. The rating reflects the organization’s commitment to transparency and responsible financial management, as evidenced by their robust policies and effective governance structure. Notably, the foundation boasts an independent board comprised of 66% members and has well-defined policies for conflict of interest and whistleblower protections.
Strengths include a high program expense ratio of 78.62%, demonstrating that the majority of its funds are directed towards its mission-related activities. The foundation's financial oversight is strengthened by an audit and oversight committee, ensuring that its financial statements are reliable. These factors contribute positively to the nonprofit's overall accountability profile.
However, the organization has a liabilities to assets ratio of 64.64%, which suggests that it has a significant portion of liabilities compared to its assets. While this is not an alarming figure, it is a point of consideration for potential donors analyzing the foundation's fiscal stability. Overall, the Virginia Tech Real Estate Foundation appears to maintain a healthy operational balance, but prospective supporters may want to monitor its financial dynamics closely.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Tech Real Estate Foundation Inc legitimate?
Virginia Tech Real Estate Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Tech Real Estate 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $375,083
For more financial information, click here
What is the mission statement of Virginia Tech Real Estate Foundation Inc?
The Virginia Tech Real Estate Foundation Inc is a non-profit organization established to support Virginia Tech and the Virginia Tech Foundation. Its primary mission is to manage and oversee certain real properties for the benefit of the university. The foundation engages in various activities related to the ownership, development, and operation of these properties to advance the interests of Virginia Tech. Through its efforts, the Virginia Tech Real Estate Foundation contributes to the university's growth and development by generating revenue from its real estate holdings. Overall, its purpose is to ensure the prosperity and continued success of Virginia Tech through its involvement in real estate matters.
Who is the CEO of Virginia Tech Real Estate Foundation Inc?
Elizabeth A Mcclanahan is the Chairman of Virginia Tech Real Estate Foundation Inc.
What is the revenue of Virginia Tech Real Estate Foundation Inc?
Virginia Tech Real Estate Foundation Inc's revenue in 2022 was $14,535,545.
Who are the executives of Virginia Tech Real Estate Foundation Inc and what are their salaries?
Here are 12 key members and their salaries:
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- Related: $683,970
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- Related: $275,760
- Other: $49,959
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- Related: $245,769
- Other: $51,863
Where can I find the form 990 for Virginia Tech Real Estate Foundation Inc?
Virginia Tech Real Estate Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Virginia Tech Real Estate Foundation Inc
Virginia Tech Real Estate Foundation, Inc. (VTREF) is a nonprofit organization devoted to matters pertaining to certain real property, working in the best interest of Virginia Polytechnic Institute and State University (Virginia Tech) and Virginia Tech Foundation, Inc. The Foundation's primary mission is to engage in activities concerning the ownership, development, and operation of various properties to benefit the university.
VTREF's work encompasses a wide range of responsibilities, all with the ultimate goal of supporting Virginia Tech. By managing and overseeing real estate holdings, the Foundation contributes significantly to the university's growth and success. The organization's activities extend beyond simple property management, ensuring the development and operation of properties that contribute positively to the university community. In doing so, VTREF plays a crucial role in furthering the mission and goals of Virginia Tech.
In summary, the Virginia Tech Real Estate Foundation, Inc. serves as a key partner to Virginia Tech and Virginia Tech Foundation, Inc. by handling various real estate matters aimed at benefiting the university. Through its expertise in property ownership, development, and operation, VTREF fosters growth and supports the ongoing success of Virginia Tech.
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Impact
October, 2024
Virginia Tech Real Estate Foundation Inc (VTREF) plays a crucial role in enhancing the resources and capabilities of Virginia Polytechnic Institute and State University (Virginia Tech). By engaging in the ownership, development, and operation of various properties, VTREF supports the university's mission and objectives.
The foundation's activities directly contribute to the growth and sustainability of campus facilities, which in turn enrich the educational environment for students, faculty, and the broader community. Through the strategic management of real estate, VTREF ensures that Virginia Tech has the necessary infrastructure to foster academic excellence, research initiatives, and community engagement. Ultimately, VTREF's impact is reflected in the enhanced educational landscape and opportunities available to those associated with Virginia Tech.
This information is meant to be a general summary of Virginia Tech Real Estate 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: $137,751
- Program Service Revenue: $14,397,794
- Gross Receipts: $14,535,545
Assets and Liabilities:
- Total Assets: $287,318,402
- Total Liabilities: $206,382,220
- Net Assets: $80,936,182
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NORTH END CENTER
Revenue
$4,768,238
VIRGINIA TECH RESEARCH CENTER
Revenue
$4,328,850
HOTEL ROANOKE
Revenue
$3,152,278
UNIVERSITY GATEWAY CENTER
Revenue
$1,620,855
OTHER PROGRAM SERVICE REVENUE
Revenue
$527,573
Organization Details
Founding Year
1989
Phone
(540) 231-5751Principal Officer
Elizabeth A Mcclanahan
Main Address
902 PRICES FORK RD 4000, BLACKSBURG, VA, 24061
NTEE Category
Code: B00 - Education
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