Overview
What is Old Dominion University Research Foundation?
The Old Dominion University Research Foundation, located at 4111 Monarch Way 204, Norfolk, Virginia, serves as the administrative and fiscal agent for sponsored research, training grants, and other programs for Old Dominion University, a Virginia institution of higher education. With a workforce of 1,155 individuals, this nonprofit organization plays an essential role in managing and supporting various research initiatives and grants for Old Dominion University.
Official website here: www.researchfoundation.odu.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating 95% - Four-Star out of Four Star rating
Old Dominion University Research Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The foundation's score is primarily based on its exceptional financial practices, with a notable 89.99% program expense ratio, indicating that nearly 90% of its funds are directed towards programs rather than administrative costs.
The organization boasts a highly independent board, with 76% of its members being independent, which enhances its governance and decision-making processes. Additionally, it has solid policies in place, including conflict of interest and whistleblower protections, which further strengthen its accountability measures. The financial oversight is robust, as evidenced by its perfect scores in several key areas, including audit and oversight.
While the foundation demonstrates strong financial health and governance, it is essential for potential donors and stakeholders to remain informed about how these practices translate into programmatic effectiveness and impact. Overall, the foundation's high rating signifies a commitment to transparency and responsible management of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Old Dominion University Research Foundation legitimate?
Old Dominion University Research Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Old Dominion University Research 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: $905,477
Professional Fundraising Fees: $0
Other Salaries and Wages: $26,457,193
For more financial information, click here
Official website here: www.researchfoundation.odu.edu
What is the mission statement of Old Dominion University Research Foundation?
The Old Dominion University Research Foundation plays a crucial role in facilitating sponsored research, training grants, and various other programs for Old Dominion University. Acting as an administrative and fiscal agent, it supports this Commonwealth of Virginia institution of higher education in its academic pursuits. By managing these initiatives, the foundation enables Old Dominion University to further its research and educational objectives.
Official website here: www.researchfoundation.odu.edu
Who is the CEO of Old Dominion University Research Foundation?
Shannon Robinson is the President of Old Dominion University Research Foundation.
Official website here: www.researchfoundation.odu.edu
What is the revenue of Old Dominion University Research Foundation?
Old Dominion University Research Foundation's revenue in 2022 was $58,179,251.
Official website here: www.researchfoundation.odu.edu
Who are the executives of Old Dominion University Research Foundation and what are their salaries?
The average compensation at Old Dominion University Research Foundation during 2022 was $23,691. There are 1155 employees and 21 volunteers at Old Dominion University Research Foundation.
Here are 27 key members and their salaries:
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- Other: $18,613
- Compensation: $151,945
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- Other: $18,673
Official website here: www.researchfoundation.odu.edu
Where can I find the form 990 for Old Dominion University Research Foundation?
Old Dominion University Research Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.researchfoundation.odu.edu
Learn more at the official website: www.researchfoundation.odu.edu
Mission Statement of Old Dominion University Research Foundation
Old Dominion University Research Foundation, or ODU Research Foundation, plays a crucial role in facilitating sponsored research, training grants, and various other sponsored programs for Old Dominion University, a prestigious higher education institution in the Commonwealth of Virginia. In simpler terms, this nonprofit organization acts as an administrative and fiscal intermediary for Old Dominion University, managing external funding and ensuring the proper execution of research projects and training initiatives. By doing so, ODU Research Foundation contributes significantly to the academic and research endeavors of Old Dominion University. The organization's mission is to effectively manage and allocate resources provided by external sponsors, ultimately supporting the ongoing research and development efforts at Old Dominion University.
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Impact
October, 2024
Old Dominion University Research Foundation plays a crucial role in advancing academic research and innovation by serving as the administrative and fiscal agent for sponsored research, training grants, and various other sponsored programs at Old Dominion University. By efficiently managing funding and resources, the foundation enables faculty and researchers to focus on their projects, facilitating cutting-edge research that contributes to the body of knowledge across diverse fields. This support not only enhances educational opportunities but also fosters collaboration between the university and external partners, driving economic growth and community development in Norfolk, Virginia, and beyond.
This information is meant to be a general summary of Old Dominion University Research 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: $118,593
- Program Service Revenue: $58,060,658
- Gross Receipts: $58,238,326
Assets and Liabilities:
- Total Assets: $38,694,271
- Total Liabilities: $18,521,479
- Net Assets: $20,172,792
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPONSORED PROJECTS
Revenue
$58,060,658
Organization Details
Founding Year
1965
Phone
(757) 683-4293Principal Officer
Shannon Robinson
Main Address
4111 MONARCH WAY 204, NORFOLK, VA, 23508
NTEE Category
Code: B110 - Education
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