Totals
- Total revenue
- $293,759,159
- Total expenses
- $182,640,214
- Contributions and grants received
- $178,958,298
- Grants paid
- $97,180,150
- Program service revenue
- $13,744,672
- Investment income
- $88,127,578
- Other revenue
- $12,928,611
- Total assets, end of year
- $3,036,393,497
- Total liabilities, end of year
- $1,040,196,284
- Net assets or fund balances, end of year
- $1,996,197,213
- Program services expenses (Part IX)
- $157,805,291
- Management and general expenses
- $15,864,972
- Fundraising expenses
- $8,969,951
- Program service expenses (Part III)
- $157,805,291
Program services were 86.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$315,345
-
1f · All other contributions, gifts and grants
$178,642,953
-
1g · Noncash contributions included above
$33,144,677
-
2a · Program service revenue: DEVELOPMENT & MANAGEMENT
total $6,107,801 · related or exempt $6,107,801
-
2b · Program service revenue: AFFILIATE MEMBERSHIP
total $4,561,648 · related or exempt $4,561,648
-
2c · Program service revenue: AGRICULTURAL EDUCATION
total $1,918,324 · related or exempt $1,918,324
-
2d · Program service revenue: PROPERTY MANAGEMENT FEES
total $901,556 · related or exempt $901,556
-
2e · Program service revenue: CONSTRUCTION MGMT REVENUE
total $163,044 · related or exempt $163,044
-
2f · All other program service revenue
total $92,299 · related or exempt $92,299
-
3 · Investment income
total $26,794,950 · unrelated business $6,191,663 · excluded $20,603,287
-
4 · Income from investment of tax-exempt bond proceeds
total $91,735 · excluded $91,735
-
5 · Royalties
total $1,000,605 · excluded $1,000,605
-
6a · Gross rents
real property $34,852,898
-
6b · Less rental expenses
real property $29,836,667
-
6c · Rental income or loss
real property $5,016,231
-
6d · Net rental income or loss
total $5,016,231 · unrelated business $1,116,254 · excluded $3,899,977
-
7a · Gross sales of assets other than inventory
securities $1,082,697,489 · other assets $9,800,289
-
7b · Less cost or other basis and sales expenses
securities $1,027,679,454 · other assets $3,577,431
-
7c · Gain or loss
securities $55,018,035 · other assets $6,222,858
-
7d · Net gain or loss
total $61,240,893 · unrelated business $1,288,308 · excluded $59,952,585
-
11a · Other revenue: INCOME FROM SUBSIDIARIES
total $5,420,456 · excluded $5,420,456
-
11b · Other revenue: WVTF
total $145,075 · excluded $145,075
-
11c · Other revenue: ALUMNI TOURS
total $19,634 · unrelated business $19,634
-
11d · All other revenue
total $1,326,610 · excluded $1,326,610
-
11e · Other revenue, total
$6,911,775
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $97,180,150 · program services $97,180,150
-
5 · Compensation of officers, directors and key employees
total $3,980,666 · management and general $3,980,666
-
6 · Compensation of disqualified persons
total $147,020 · management and general $73,510 · fundraising $73,510
-
7 · Other salaries and wages
total $2,660,584 · program services $1,743,502 · management and general $835,339 · fundraising $81,743
-
8 · Pension plan contributions
total $564,160 · program services $174,325 · management and general $389,835
-
9 · Other employee benefits
total $754,704 · program services $116,732 · management and general $637,972
-
10 · Payroll taxes
total $1,515,895 · management and general $1,515,895
-
11b · Fees: legal
total $135,849 · program services $90,802 · management and general $45,047
-
11c · Fees: accounting
total $160,464 · management and general $160,464
-
11d · Fees: lobbying
total $3,500 · management and general $3,500
-
11f · Fees: investment management
total $2,728,130 · management and general $2,728,130
-
11g · Fees: other
total $6,520,397 · program services $3,884,804 · management and general $490,373 · fundraising $2,145,220
-
12 · Advertising and promotion
total $1,629,571 · program services $1,405,245 · management and general $258 · fundraising $224,068
-
13 · Office expenses
total $3,724,562 · program services $1,866,933 · management and general $290,686 · fundraising $1,566,943
-
14 · Information technology
total $474,330 · program services $38,537 · management and general $43,253 · fundraising $392,540
-
16 · Occupancy
total $1,694,844 · program services $1,428,502 · management and general $187,807 · fundraising $78,535
-
17 · Travel
total $4,313,984 · program services $3,061,652 · management and general $83,144 · fundraising $1,169,188
-
19 · Conferences, conventions and meetings
total $355,328 · program services $251,872 · management and general $26,379 · fundraising $77,077
-
20 · Interest
total $6,942,091 · program services $1,978,752 · management and general $4,963,339
-
22 · Depreciation, depletion and amortization
total $1,788,652 · program services $1,611,843 · management and general $148,240 · fundraising $28,569
-
23 · Insurance
total $641,202 · program services $433,780 · management and general $205,676 · fundraising $1,746
-
24a · Other expenses: UNIV SPONSORED RESEARCH
total $20,128,494 · program services $20,127,419 · management and general $1,075 · fundraising $0
-
24b · Other expenses: MEALS & ENTERTAINMENT
total $9,845,360 · program services $8,576,136 · management and general $127,039 · fundraising $1,142,185
-
24c · Other expenses: RADIO STATION
total $4,345,347 · program services $1,687,789 · management and general $2,240,101 · fundraising $417,457
-
24d · Other expenses: PUBLIC RELATIONS
total $3,099,367 · program services $2,459,001 · management and general $60,198 · fundraising $580,168
-
24e · All other expenses
total $7,305,563 · program services $9,687,515 · management and general -$3,372,954 · fundraising $991,002
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $56,712,127 · end of year $120,063,342
-
3 · Pledges and grants receivable
beginning of year $180,908,044 · end of year $177,161,164
-
4 · Accounts receivable
beginning of year $5,093,670 · end of year $3,295,638
-
7 · Other notes and loans receivable
beginning of year $192,641,501 · end of year $178,534,445
-
8 · Inventories for sale or use
beginning of year $564,388 · end of year $709,446
-
9 · Prepaid expenses and deferred charges
beginning of year $7,054,488 · end of year $7,548,654
-
10a · Land, buildings and equipment: cost or other basis
$332,632,812
-
10b · Land, buildings and equipment: accumulated depreciation
$94,597,694
-
10c · Land, buildings and equipment, net
beginning of year $239,290,792 · end of year $238,035,118
-
11 · Investments: publicly traded securities
beginning of year $570,981,323 · end of year $149,551,829
-
12 · Investments: other securities
beginning of year $1,450,693,811 · end of year $2,032,181,280
-
14 · Intangible assets
beginning of year $3,134,637 · end of year $3,062,938
-
15 · Other assets
beginning of year $139,067,266 · end of year $126,249,643
-
17 · Accounts payable and accrued expenses
beginning of year $9,204,088 · end of year $7,508,537
-
19 · Deferred revenue
beginning of year $40,022,111 · end of year $39,609,305
-
20 · Tax-exempt bond liabilities
beginning of year $282,740,286 · end of year $262,858,708
-
23 · Secured mortgages and notes payable
beginning of year $1,738,213
-
24 · Unsecured notes and loans payable
end of year $11,000,556
-
25 · Other liabilities
beginning of year $675,394,924 · end of year $719,219,178
-
27 · Net assets without donor restrictions
beginning of year $458,513,424 · end of year $498,844,854
-
28 · Net assets with donor restrictions
beginning of year $1,378,529,001 · end of year $1,497,352,359
Mission and programs · 2023
Mission
VIRGINIA TECH FOUNDATION, INC. (VTF) IS A NONSTOCK CORPORATION ESTABLISHED IN 1948 FOR THE SOLE PURPOSE OF MANAGING VIRGINIA TECH'S ENDOWMENT AND REAL ESTATE PORTFOLIO. VTF EXISTS AND OPERATES AS A SEPARATE, INDEPENDENT ENTITY WITH ITS OFFICERS AND (SEE SCHEDULE O) GOVERNING BOARD MANAGING, INVESTING, AND DISTRIBUTING PRIVATE RESOURCES TO ADVANCE VIRGINIA TECH'S MISSION AND ITS STRATEGIC PROPRIETIES.
Activities or mission (Part I)
VIRGINIA TECH FOUNDATION, INC. (VTF) IS A NONSTOCK CORPORATION ESTABLISHED IN 1948 (SEE SCHEDULE O) FOR THE SOLE PURPOSE OF MANAGING VIRGINIA TECH'S ENDOWMENT AND REAL ESTATE PORTFOLIO. VTF EXISTS AND OPERATES AS A SEPARATE, INDEPENDENT ENTITY WITH ITS OFFICERS AND GOVERNING BOARD-MANAGING, INVESTING, AND DISTRIBUTING PRIVATE RESOURCES TO ADVANCE VIRGINIA TECH'S MISSION AND ITS STRATEGIC PROPRIETIES.
-
GUIDED BY A STRONG COMMITMENT TO FIDUCIARY RESPONSIBILITY, THE FOUNDATION RECEIVES, MANAGES, AND DISBURSES PRIVATE GIFTS TO ADVANCE THE MISSIONS OF VIRGINIA TECH. THE FOUNDATION STRIVES TO BE AN EXCEPTIONAL STEWARD OF THE ASSETS PROVIDED BY THE UNIVERSITY'S MANY GENEROUS DONORS, AND TO GROW AND LEVERAGE THOSE ASSETS TO THE FULLEST EXTENT TO ENABLE THE FORWARD PROGRESS OF THE UNIVERSITY AND ALL OF ITS CONSTITUENTS. ANCHORING A SOLID INVESTMENT IN THE FUTURE OF VIRGINIA TECH, ENDOWED GIFTS MAKE UP THE LARGEST PORTION OF THE FOUNDATION'S ASSETS. THE ENDOWMENT IS AN ACTIVELY MANAGED PORTFOLIO INCORPORATING DEEP FUNDAMENTAL ANALYSIS AND A VALUE-ORIENTED, GLOBAL APPROACH. COMPLEMENTING THE ENDOWMENT'S INVESTMENTS, THE FOUNDATION MANAGES AN EXTENSIVE REAL ESTATE PORTFOLIO. REAL ESTATE (SEE SCHEDULE O) ACQUISITIONS, CONSTRUCTION AND RENOVATION ARE DONE AT THE REQUEST OF THE UNIVERSITY AND REAL ESTATE GIFTS ARE DESIGNATED IN ACCORDANCE WITH DONOR INTENT FOR ULTIMATE DISPOSITION TO SUPPORT THE MISSIONS OF VIRGINIA TECH.
Expenses $157,805,291 · Grants $97,180,150 · Revenue $13,744,672
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mr Charles D PhlegarMR CHARLES D PHLEGAR
BOARD MEMBER-EX OFFICIO
- Total calculated
- $978,108
- From this org
- $0
- From related orgs
- $817,187
- Other
- $160,921
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $783,793 related
- Bonus
- $0
- Other
- $0 + $33,394 related
- Deferred
- $0 + $126,100 related
- Nontaxable benefits
- $0 + $34,821 related
- Filer's total
- $0 + $978,108 related
-
Dr Timothy D SandsDR TIMOTHY D SANDS
BOARD MEMBER-EX OFFICIO
- Total calculated
- $1,205,509
- From this org
- $0
- From related orgs
- $829,304
- Other
- $376,205
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $805,453 related
- Bonus
- $0
- Other
- $0 + $23,851 related
- Deferred
- $0 + $336,100 related
- Nontaxable benefits
- $0 + $40,105 related
- Filer's total
- $0 + $1,205,509 related
-
Dr Amy S SebringDR AMY S SEBRING
BOARD MEMBER-EX OFFICIO
- Total calculated
- $705,853
- From this org
- $0
- From related orgs
- $541,594
- Other
- $164,259
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $538,732 related
- Bonus
- $0
- Other
- $0 + $2,862 related
- Deferred
- $0 + $118,251 related
- Nontaxable benefits
- $0 + $46,008 related
- Filer's total
- $0 + $705,853 related
-
Ms Starlette B JohnsonMS STARLETTE B JOHNSON
CHAIR (THRU 09/2023)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr William N ParkMR WILLIAM N PARK
VC (THRU 9/23); CHAIR (AS OF 9/23)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Ms Jacqueline L ArcherMS JACQUELINE L ARCHER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Omar M AsaliMR OMAR M ASALI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Edward H Ed BaineMR EDWARD H ED BAINE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Christopher J BrightmanMR CHRISTOPHER J BRIGHTMAN
BOARD MEMBER (THRU 09/2023)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Robert Bob BroydenMR ROBERT BOB BROYDEN
BOARD MEMBER-EX OFFICIO(AS OF 11/23)
- Total calculated
- $391,156
- From this org
- $0
- From related orgs
- $337,751
- Other
- $53,405
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $334,670 related
- Bonus
- $0
- Other
- $0 + $3,081 related
- Deferred
- $0 + $16,797 related
- Nontaxable benefits
- $0 + $36,608 related
- Filer's total
- $0 + $391,156 related
-
Ms Margaret L WickesMS MARGARET L WICKES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr David S Dave Cooper JrMR DAVID S DAVE COOPER JR
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Mr Kevin T CroftonMR KEVIN T CROFTON
BOARD MEMBER (THRU 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Ms Traci J DeshazorMS TRACI J DESHAZOR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr J Benjamin Ben DoughtieMR J BENJAMIN BEN DOUGHTIE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Gregory C GodseyMR GREGORY C GODSEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Donald B Don HalliwillMR DONALD B DON HALLIWILL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Chris KiwusMR CHRIS KIWUS
BOARD MEMBER-EX OFFICIO (THRU 11/23)
- Total calculated
- $432,364
- From this org
- $0
- From related orgs
- $402,057
- Other
- $30,307
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $396,141 related
- Bonus
- $0
- Other
- $0 + $5,916 related
- Deferred
- $0 + $19,818 related
- Nontaxable benefits
- $0 + $10,489 related
- Filer's total
- $0 + $432,364 related
-
Mr Nathan T LavinkaMR NATHAN T LAVINKA
BOARD MEMBER-EX OFFICIO
- Total calculated
- $0
- Hours/week
- 2
-
Mr J Ryan LingerfeltMR J RYAN LINGERFELT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Stephen T MasonMR STEPHEN T MASON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Michael E Mike MeloMR MICHAEL E MIKE MELO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Roger H MooreMR ROGER H MOORE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Marty MuscatelloMR MARTY MUSCATELLO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ms Catherine Papoulias-SakelMS CATHERINE PAPOULIAS-SAKEL
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Ms Renae C PearsonMS RENAE C PEARSON
BOARD MEMBER (THRU 09/2023)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr James G Jim PetrineMR JAMES G JIM PETRINE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Christopher M QuillenMR CHRISTOPHER M QUILLEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr James A Rosenstock IIIMR JAMES A ROSENSTOCK III
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Ms Laila N RossiMS LAILA N ROSSI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Ms Hema S SanghaniMS HEMA S SANGHANI
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Ms Shirish S SathayeMS SHIRISH S SATHAYE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Christopher W SheanMR CHRISTOPHER W SHEAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Ms Adela SkenderasiMS ADELA SKENDERASI
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Mr James N StrawbridgeMR JAMES N STRAWBRIDGE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Gregory C ThompsonMR GREGORY C THOMPSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr John T ThompsonMR JOHN T THOMPSON
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Mr Bruce W TylerMR BRUCE W TYLER
BOARD MEMBER (AS OF 09/2023)
- Total calculated
- $0
- Hours/week
- 2
-
Mr William Lake WagnerMR WILLIAM LAKE WAGNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Richard R Whitt IIIMR RICHARD R WHITT III
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mr Kenneth S SmithMR KENNETH S SMITH
COO (AS 08/2023)
- Total calculated
- $122,301
- From this org
- $110,207
- From related orgs
- $0
- Other
- $12,094
- Hours/week
- 38 + 2 related
-
Elizabeth A McClanahanELIZABETH A MCCLANAHAN
CHIEF EXECUTIVE OFFICER
- Total calculated
- $706,318
- From this org
- $669,577
- From related orgs
- $0
- Other
- $36,741
- Hours/week
- 30 + 10 related
Schedule J breakdown matched by us
- Base
- $535,373
- Bonus
- $130,000
- Other
- $4,204
- Deferred
- $35,211
- Nontaxable benefits
- $1,530
- Filer's total
- $706,318
-
Ms Terri T MitchellMS TERRI T MITCHELL
ASSISTANT SECRETARY (AS OF 09/2023)
- Total calculated
- $336,896
- From this org
- $269,127
- From related orgs
- $0
- Other
- $67,769
- Hours/week
- 38 + 2 related
Schedule J breakdown matched by us
- Base
- $267,885
- Bonus
- $0
- Other
- $1,242
- Deferred
- $36,440
- Nontaxable benefits
- $31,329
- Filer's total
- $336,896
-
Ms Anne B KeelerMS ANNE B KEELER
CFO & TREASURER
- Total calculated
- $223,570
- From this org
- $191,923
- From related orgs
- $0
- Other
- $31,647
- Hours/week
- 38 + 2 related
Schedule J breakdown matched by us
- Base
- $172,091
- Bonus
- $17,850
- Other
- $1,982
- Deferred
- $20,879
- Nontaxable benefits
- $10,768
- Filer's total
- $223,570
-
Mr David GreenbergMR DAVID GREENBERG
CHIEF INVESMENT OFFICER
- Total calculated
- $940,143
- From this org
- $921,129
- From related orgs
- $0
- Other
- $19,014
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $495,204
- Bonus
- $350,000
- Other
- $75,925
- Deferred
- $0
- Nontaxable benefits
- $19,014
- Filer's total
- $940,143
-
Ms Tammy CostiganMS TAMMY COSTIGAN
CONTROLLER
- Total calculated
- $233,925
- From this org
- $178,108
- From related orgs
- $0
- Other
- $55,817
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,059
- Bonus
- $9,211
- Other
- $838
- Deferred
- $23,962
- Nontaxable benefits
- $31,855
- Filer's total
- $233,925
-
Ms Carrie WoodringMS CARRIE WOODRING
DIRECTOR OF REAL ESTATE
- Total calculated
- $199,981
- From this org
- $151,416
- From related orgs
- $0
- Other
- $48,565
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $130,991
- Bonus
- $19,249
- Other
- $1,176
- Deferred
- $17,470
- Nontaxable benefits
- $31,095
- Filer's total
- $199,981
-
Ms Mary Yolanda TrigianiMS MARY YOLANDA TRIGIANI
MANAGING DIRECTOR OF PLANNING
- Total calculated
- $169,269
- From this org
- $145,826
- From related orgs
- $0
- Other
- $23,443
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,652
- Bonus
- $8,033
- Other
- $3,141
- Deferred
- $15,481
- Nontaxable benefits
- $7,962
- Filer's total
- $169,269
-
Ms Janet TuckwillerMS JANET TUCKWILLER
SENIOR ASSOCIATE GENERAL COUNSEL
- Total calculated
- $175,942
- From this org
- $144,336
- From related orgs
- $0
- Other
- $31,606
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $124,235
- Bonus
- $0
- Other
- $20,101
- Deferred
- $13,807
- Nontaxable benefits
- $17,799
- Filer's total
- $175,942
-
Mr James FordMR JAMES FORD
DIRECTOR OF IT
- Total calculated
- $211,330
- From this org
- $170,661
- From related orgs
- $0
- Other
- $40,669
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,502
- Bonus
- $13,407
- Other
- $752
- Deferred
- $12,660
- Nontaxable benefits
- $28,009
- Filer's total
- $211,330
-
Dr John DooleyDR JOHN DOOLEY
FORMER CEO; SA VT ATHLETIC DIR
- Total calculated
- $147,019
- From this org
- $146,962
- From related orgs
- $0
- Other
- $57
- Hours/week
- 0 + 20 related
Schedule J breakdown matched by us
- Base
- $144,000
- Bonus
- $0
- Other
- $2,962
- Deferred
- $57
- Nontaxable benefits
- $0
- Filer's total
- $147,019
-
Mr Daniel WardMR DANIEL WARD
FORMER AVP/CIO ENDOWMMENT
- Total calculated
- $1,407,965
- From this org
- $1,359,544
- From related orgs
- $0
- Other
- $48,421
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $261,071
- Bonus
- $448,864
- Other
- $649,609
- Deferred
- $34,808
- Nontaxable benefits
- $13,613
- Filer's total
- $1,407,965
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Health or social club dues or initiation fees
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 5a · Pay contingent on this organization's revenues
Answered no
- 1b · Written policy on the line-1a expenses
- 4c · Equity-based compensation arrangement
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- SOCIAL CLUB DUES THE FOUNDATION PROVIDES MEMBERSHIPS AT THE UNIVERSITY CLUB OF VIRGINIA TECH FOR THE FOLLOWING EMPLOYEES: ELIZABETH A. MCCLANAHAN, ANNE B. KEELER, MR. KENNETH S. SMITH, AND DR. JOHN DOOLEY. THE AMOUNT IS TREATED AS TAXABLE COMPENSATION.
- PART I, LINE 3
- COMPENSATION PROCESS VIRGINIA TECH FOUNDATION (VTF) RELIES UPON ITS COMPENSATION COMMITTEE, AND A RELATED ENTITY, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY TO DETERMINE COMPENSATION FOR VTF. VTF'S COMPENSATION COMMITTEE REVIEWS THE SALARY AND BENEFITS OF THE VTF CHIEF EXECUTIVE OFFICER. THE COMPENSATION COMMITEE IS COMPRISED OF THE BOARD CHAIR AND TWO OR MORE ELECTED DIRECTORS. THOSE INDEPENDENT PERSONS RELY ON COMPARATIVE DATA ON SALARIES AND BENEFITS BEFORE ESTABLISHING COMPENSATION AND DOCUMENTING CONTEMPORANEOUSLY. THE ANNUAL BOARD APPROVED OPERATING BUDGET ESTABLISHES SALARIES AND BENEFITS FOR ALL OTHER VTF OFFICERS. PROFESSIONAL AND CLASSIFIED STAFF SALARIES AND THEIR EMPLOYEE BENEFITS, ARE DETERMINED BY THE CHIEF EXECUTIVE OFFICER. INFORMATION IS PROVIDED ON COMPARATIVE SALARIES AND BENEFITS FOR CONSIDERATION IN MAKING ADJUSTMENTS. THE ANNUAL BOARD APPROVED OPERATING BUDGET ESTABLISHES SALARIES AND BENEFITS FOR ALL OTHER VTF OFFICERS.
- PART I, LINES 4A-B
- SEVERANCE PAYMENT THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE FROM THE ORGANIZATION: MR. DANIEL WARD - $639,337 DEFERRED COMPENSATION DR. TIMOTHY SANDS, MR. CHARLES PHLEGAR, AND DR. AMY SEBRING ARE EMPLOYEES OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY AND THEY RECEIVE DEFERRED COMPENSATION AS A RESULT OF THEIR EMPLOYMENT AGREEMENT WITH THE VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. VIRGINIA TECH REAL ESTATE FOUNDATION, INC. DOES NOT PROVIDE COMPENSATION TO DR. TIMOTHY SANDS, MR. CHARLES PHLEGAR, OR DR. AMY SEBRING.
- PART I, LINE 5
- COMPENSATION CONTINGENT ON REVENUES THE FOUNDATION'S INVESTMENT MANAGEMENT STAFF ARE ELIGIBLE TO RECEIVE BONUSES BASED ON THE FOUNDATION'S 3 YEAR ENDOWMENT PERFORMANCE AND RANKING. THE BONUS PROGRAM WAS APPROVED BY THE INVESTMENT COMMITTEE OF THE FOUNDATION'S BOARD OF DIRECTORS, AND THE BONUS AWARDS ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER AND PAID FROM THE FOUNDATION'S ENDOWMENT ANNUALLY.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY
$44,855,081
SCHOLARSHIP
-
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY
$31,276,162
UNIVERSITY SALARIES
-
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY
$20,913,907
DEPARTMENT PROGRAMS
-
COMMUNITY UNITED METHODIST CHURCH
$90,000
GENERAL SUPPORT (DAF)
-
AZCMS CARES FOUNDATION
$30,000
GENERAL SUPPORT (DAF)
-
$10,000
GENERAL SUPPORT (DAF)
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
VIRGINIA TECH REAL ESTATE FOUNDATION INC
501(C)(3) · PROPERTY MANAGEMENT · VA · controlled entity
Directly controlled by VTF
-
VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY
UNIVERSITY · VA
-
OLIVIO FERRARI FOUNDATION
EUROPEAN STUDY · SZ · controlled entity
Directly controlled by VTF
-
501(C)(3) · EUROPEAN STUDY · SZ · controlled entity
Directly controlled by VTF
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
RIVER COURSE LLC
GOLF COURSE · VA · income $0 · assets $9,314,762
Directly controlled by VTF
-
INFO TECH · VA · income $59,050 · assets $5,723,263
Directly controlled by VTF
-
VTF-VEP II LLC
INVESTMENTS · VA · income $13,247,000 · assets $20,716,000
Directly controlled by VTF
-
MAROON ASIA I LLC
INVESTMENTS · VA · income $3,625,924 · assets $6,220,786
Directly controlled by VTF
-
MAROON US PCC LLC
INVESTMENTS · VA · income $0 · assets $149,970
Directly controlled by VTF
-
ORANGE US LLC
INVESTMENTS · VA · income $0 · assets $15,924,137
Directly controlled by VTF
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
HOTEL ROANOKE LLC
HOTEL OPERATIONS · VA
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
VIRGINIA TECH CORPORATE RESEARCH CENTER INC
C · RENTAL · VA · 100% owned · share of income $8,831,545 · share of assets $20,568,187 · controlled entity
Directly controlled by VTF
-
CHARITABLE REMAINDER UNITRUSTS - (67)
T · TRUST · VA · controlled entity
Directly controlled by VTF
-
HR FOUNDATION INC
C · PROPERTY MGMT · VA · controlled entity
Directly controlled by VTREF
-
CHARITABLE REMAINDER ANNUITY TRUSTS - (3)
T · TRUST · VA · controlled entity
Directly controlled by VTF
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531349349313083
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