Overview
What is Old Dominion Athletic Foundation?
The Old Dominion Athletic Foundation is a nonprofit organization located in Norfolk, Virginia, at 4417 Monarch Way, fourth floor. Their primary goal is to financially aid and support the athletic programs of Old Dominion University. This includes providing scholarships for student-athletes and essential program support for the NCAA Division I sports in which the university competes. This support covers various expenses, such as travel and transportation, supplies, equipment, and maintenance. The foundation's mission aligns with the educational purposes of Old Dominion University's athletic programs, adhering to NCAA rules and regulations.
Official website here: www.olddominionaf.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 97% - Four-Star out of Four Star Rating
The Old Dominion Athletic Foundation has received an impressive Four-Star rating from Charity Navigator, indicating strong performance in accountability and financial health. The charity scored exceptionally high in all evaluated areas, particularly in maintaining an independent board and demonstrating effective financial oversight, which enhances its reputation for transparency and responsible management.
The organization excels in program expense ratio, with 94.64% of its expenses directed towards its programs, signifying a strong commitment to its mission. Additionally, it demonstrates excellent fundraising efficiency with minimal costs associated with raising funds, which allows more resources to be allocated directly to its initiatives. The foundation's liabilities-to-assets ratio is also very low at 0.53%, indicating a solid financial position.
Despite these strengths, the summary does not highlight any specific areas for improvement, suggesting that the organization is currently operating effectively. Overall, the Old Dominion Athletic Foundation stands out as a financially responsible entity focused on maximizing its impact within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Old Dominion Athletic Foundation legitimate?
Old Dominion Athletic Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Old Dominion Athletic 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.
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For more financial information, click here
Official website here: www.olddominionaf.com
What is the mission statement of Old Dominion Athletic Foundation?
The Old Dominion Athletic Foundation supports and financially aids the athletic programs of Old Dominion University. It is committed to strengthening and enhancing the educational purposes of these programs, adhering to NCAA rules and regulations and the appropriate affiliated conference(s) guidelines. The foundation's mission aligns with the University's commitment to providing a well-rounded educational experience to its student-athletes. By fostering athletic success, the foundation contributes to an enriching campus environment and fosters school spirit.
Official website here: www.olddominionaf.com
Who is the CEO of Old Dominion Athletic Foundation?
Jena Virga is the Chair of Old Dominion Athletic Foundation.
Official website here: www.olddominionaf.com
What is the revenue of Old Dominion Athletic Foundation?
Old Dominion Athletic Foundation's revenue in 2022 was $14,428,347.
Official website here: www.olddominionaf.com
Who are the executives of Old Dominion Athletic Foundation and what are their salaries?
There 45 volunteers at Old Dominion Athletic Foundation.
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Official website here: www.olddominionaf.com
Where can I find the form 990 for Old Dominion Athletic Foundation?
Old Dominion Athletic Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.olddominionaf.com
Learn more at the official website: www.olddominionaf.com
Mission Statement of Old Dominion Athletic Foundation
Old Dominion Athletic Foundation, with its mission at heart, works tirelessly to financially aid and support the athletic programs of Old Dominion University. This nonprofit organization is dedicated to strengthening and reinforcing the educational purposes of these athletic programs in accordance with NCAA rules and regulations, and those of the affiliated conference(s) and the university itself. By doing so, Old Dominion Athletic Foundation plays a crucial role in ensuring the success and growth of the athletic initiatives at Old Dominion University.
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Impact
October, 2024
Old Dominion Athletic Foundation plays a crucial role in enhancing the athletic programs at Old Dominion University. By providing essential financial support, it ensures that student athletes receive scholarships, allowing them to pursue their education while participating in competitive sports. This support extends to covering costs associated with travel, transportation, supplies, and maintenance of equipment, which are vital for the success and smooth operation of NCAA Division I programs.
In addition to funding, the foundation strengthens the educational mission of the university’s athletic initiatives, aligning with NCAA regulations and university standards. By fostering an environment where student athletes can thrive both academically and athletically, Old Dominion Athletic Foundation significantly contributes to the overall growth and success of the university’s sports programs, positively impacting the student body and the community in Norfolk, Virginia.
This information is meant to be a general summary of Old Dominion Athletic 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 2022.
- Investment Income: $82,749
- Gross Receipts: $22,745,986
Assets and Liabilities:
- Total Assets: $70,701,057
- Total Liabilities: $380,903
- Net Assets: $70,320,154
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Organization Details
Founding Year
1964
Phone
(757) 683-4524Principal Officer
Jena Virga
Main Address
4417 MONARCH WAY4TH FLOOR, NORFOLK, VA, 23529
Website
www.olddominionaf.comNTEE Category
Code: N40 - Recreation
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