Totals
- Total revenue
- $21,053,814
- Total expenses
- $21,228,317
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $20,290,693
- Investment income
- $763,121
- Other revenue
- $0
- Total assets, end of year
- $267,188,388
- Total liabilities, end of year
- $181,505,261
- Net assets or fund balances, end of year
- $85,683,127
- Program services expenses (Part IX)
- $9,431,355
- Management and general expenses
- $11,796,962
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $9,431,355
Program services were 44.4% 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.
-
2a · Program service revenue: VIRGINIA TECH RESEARCH CENTER
total $7,444,018 · related or exempt $6,553,084 · excluded $890,934
-
2b · Program service revenue: NORTH END CENTER
total $5,892,456 · related or exempt $5,666,728 · excluded $225,728
-
2c · Program service revenue: HOTEL ROANOKE
total $3,222,321 · related or exempt $3,222,321 · excluded $0
-
2d · Program service revenue: HARDEE'S LOT
total $1,901,868 · related or exempt $962,684 · excluded $939,184
-
2e · Program service revenue: UNIVERSITY GATEWAY CENTER
total $1,418,580 · related or exempt $1,413,856 · excluded $4,724
-
2f · All other program service revenue
total $411,450 · related or exempt $368,334 · excluded $43,116
-
3 · Investment income
total $763,121 · excluded $763,121
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $497,373 · management and general $497,373
-
11c · Fees: accounting
total $15,511 · management and general $15,511
-
11g · Fees: other
total $980,028 · management and general $980,028
-
13 · Office expenses
total $86,359 · management and general $86,359
-
14 · Information technology
total $11,376 · management and general $11,376
-
16 · Occupancy
total $1,130,167 · management and general $1,130,167
-
17 · Travel
total $671 · management and general $671
-
20 · Interest
total $6,075,801 · program services $6,075,801
-
22 · Depreciation, depletion and amortization
total $3,146,787 · program services $3,146,787
-
23 · Insurance
total $208,767 · program services $208,767
-
24a · Other expenses: MAINTENANCE
total $2,752,298 · management and general $2,752,298
-
24b · Other expenses: PROFESSIONAL MEMBERSHIP
total $23,932 · management and general $23,932
-
24c · Other expenses: TAXES
total $4,697 · management and general $4,697
-
24e · All other expenses
total $6,294,550 · management and general $6,294,550
Balance sheet
Part X, book values.
-
4 · Accounts receivable
beginning of year $135,593 · end of year $56,470
-
7 · Other notes and loans receivable
beginning of year $6,664,499 · end of year $11,761,250
-
9 · Prepaid expenses and deferred charges
beginning of year $274,301 · end of year $243,618
-
10a · Land, buildings and equipment: cost or other basis
$177,914,850
-
10b · Land, buildings and equipment: accumulated depreciation
$31,490,208
-
10c · Land, buildings and equipment, net
beginning of year $148,597,170 · end of year $146,424,642
-
12 · Investments: other securities
beginning of year $21,707,098 · end of year $23,004,621
-
14 · Intangible assets
beginning of year $273,050 · end of year $247,650
-
15 · Other assets
beginning of year $109,385,615 · end of year $85,450,137
-
17 · Accounts payable and accrued expenses
beginning of year $282,624 · end of year $215,781
-
19 · Deferred revenue
beginning of year $6,397,505 · end of year $11,212,862
-
25 · Other liabilities
beginning of year $177,250,129 · end of year $170,076,618
-
27 · Net assets without donor restrictions
beginning of year $98,439,100 · end of year $81,015,159
-
28 · Net assets with donor restrictions
beginning of year $4,667,968 · end of year $4,667,968
Mission and programs · 2024
Mission
VIRGINIA TECH REAL ESTATE FOUNDATION, INC. (VTREF) WAS ORGANIZED SOLELY FOR THE BENEFIT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION INC. VTREF IS TO ENGAGE IN MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY.
Activities or mission (Part I)
THE ORGANIZATION ENGAGES IN ANY AND ALL MATTERS PERTAINING TO CERTAIN REAL PROPERTY (SEE SCHEDULE O) FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).
-
VTREF ENGAGED IN ACTIVITIES PERTAINING TO THE OWNERSHIP, DEVELOPMENT AND OPERATION OF VARIOUS PROPERTIES IN SUPPORT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION.
Expenses $9,431,355 · Revenue $18,187,007
As filed on the 2024 return.
Listed in Part VII
-
Dr Timothy D SandsDR TIMOTHY D SANDS
DIRECTOR (THRU 12/2024)
- Total calculated
- $1,264,785
- From this org
- $0
- From related orgs
- $984,449
- Other
- $280,336
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $858,937 related
- Bonus
- $0 + $100,000 related
- Other
- $0 + $25,512 related
- Deferred
- $0 + $238,650 related
- Nontaxable benefits
- $0 + $41,686 related
- Filer's total
- $0 + $1,264,785 related
-
William N Park - ChairmanWILLIAM N PARK - CHAIRMAN
(THRU 12/2024); DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr James N StrawbridgeMR JAMES N STRAWBRIDGE
DIRECTOR; CHAIRMAN (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Gregory C Thompson - ViceGREGORY C THOMPSON - VICE
CHAIR (THRU 12/2024); DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr J Ryan LingerfeltMR J RYAN LINGERFELT
VICE CHAIR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Simon Allen- DirectorMR SIMON ALLEN- DIRECTOR
VT VPF AND CFO (AS OF 01/2025)
- Total calculated
- $361,752
- From this org
- $0
- From related orgs
- $315,046
- Other
- $46,706
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $268,574 related
- Bonus
- $0 + $45,000 related
- Other
- $0 + $1,472 related
- Deferred
- $0 + $23,126 related
- Nontaxable benefits
- $0 + $23,580 related
- Filer's total
- $0 + $361,752 related
-
Jacqueline L ArcherJACQUELINE L ARCHER
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Edward H BaineEDWARD H BAINE
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Willis BlackwoodMR WILLIS BLACKWOOD
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Dr Cyril R Clarke - DirectorDR CYRIL R CLARKE - DIRECTOR
VT VP AND PROVOST (AS OF 01/2025)
- Total calculated
- $754,070
- From this org
- $0
- From related orgs
- $617,216
- Other
- $136,854
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $599,583 related
- Bonus
- $0
- Other
- $0 + $17,633 related
- Deferred
- $0 + $101,335 related
- Nontaxable benefits
- $0 + $35,519 related
- Filer's total
- $0 + $754,070 related
-
J Benjamin DoughtieJ BENJAMIN DOUGHTIE
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Gregory C GodseyGREGORY C GODSEY
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Donald B Don HalliwillMR DONALD B DON HALLIWILL
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Stephen T MasonSTEPHEN T MASON
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Michael E 'Mike MeloMR MICHAEL E 'MIKE MELO
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Christopher M QuillenCHRISTOPHER M QUILLEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Ms Jane C RathboneMS JANE C RATHBONE
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Laila N RossiLAILA N ROSSI
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Shirish S SathayeSHIRISH S SATHAYE
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Christopher W SheanCHRISTOPHER W SHEAN
DIRECTOR (THRU 12/2024)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Bruce W TylerMR BRUCE W TYLER
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr William Lake WagnerMR WILLIAM LAKE WAGNER
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Mr Hance WestMR HANCE WEST
DIRECTOR (AS OF 01/2025)
- Total calculated
- $0
- Hours/week
- 2
-
Karen CookKAREN COOK
ASSITANT SECRETARY
- Total calculated
- $0
- Hours/week
- 2 + 38 related
-
Elizabeth A McClanahanELIZABETH A MCCLANAHAN
PRESIDENT
- Total calculated
- $912,041
- From this org
- $0
- From related orgs
- $868,291
- Other
- $43,750
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $578,375 related
- Bonus
- $0 + $285,437 related
- Other
- $0 + $4,479 related
- Deferred
- $0 + $36,812 related
- Nontaxable benefits
- $0 + $6,938 related
- Filer's total
- $0 + $912,041 related
-
Anne B KeelerANNE B KEELER
TREASURER
- Total calculated
- $420,703
- From this org
- $0
- From related orgs
- $360,297
- Other
- $60,406
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $356,733 related
- Bonus
- $0
- Other
- $0 + $3,564 related
- Deferred
- $0 + $39,143 related
- Nontaxable benefits
- $0 + $21,263 related
- Filer's total
- $0 + $420,703 related
-
Kenneth SmithKENNETH SMITH
SECRETARY
- Total calculated
- $340,838
- From this org
- $0
- From related orgs
- $306,651
- Other
- $34,187
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $300,237 related
- Bonus
- $0 + $2,500 related
- Other
- $0 + $3,914 related
- Deferred
- $0 + $32,662 related
- Nontaxable benefits
- $0 + $1,525 related
- Filer's total
- $0 + $340,838 related
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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 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 3:
- COMPENSATION PROCESS ALL COMPENSATION OF THE EXECUTIVES, OFFICERS AND KEY EMPLOYEES OF VIRGINIA TECH REAL ESTATE FOUNDATION, INC. IS PROVIDED BY VIRGINIA TECH FOUNDATION (VTF). PART I, LINE 4B DEFERRED COMPENSATION DR. TIMOTHY SANDS AND DR. CYRIL R CLARKE IS AN EMPLOYEE OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. HE PARTICIPATES IN A DEFERRED COMPENSATION PLAN AS A BENEFIT PROVIDED IN HIS EMPLOYMENT AGREEMENT WITH THE VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY.
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
No itemized grants to organizations on this return.
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.
-
501(C)(3) · SUPPORT VT · VA
-
VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY
501(C)(3) · UNIVERSITY · VA
-
501(C)(3) · SUPPORT VT · VA
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.
-
REAL ESTATE · VA · income $43,116 · assets $42,952
Directly controlled by VTREF
-
VTREF - FOUNDATION OFFICE BUILDING LLC
REAL ESTATE · VA · income $1,418,580 · assets $10,665,044
Directly controlled by VTREF
-
VIRGINIA TECH RESEARCH INSTITUTE LLC
REAL ESTATE · VA · income $7,444,018 · assets $71,103,440
Directly controlled by VTREF
-
REAL ESTATE · VA · income $2,247,827 · assets $51,681,939
Directly controlled by VTREF
-
ROANOKE INVESTMENT PROPERTIES LLC
REAL ESTATE · VA
Directly controlled by VTREF
-
GLADE ROAD INVESTMENT PROPERTIES LLC
REAL ESTATE · VA
Directly controlled by VTREF
-
REAL ESTATE · VA · income $368,334 · assets $7,283,720
Directly controlled by VTREF
-
REAL ESTATE · VA · income $4,407,748 · assets $114,957,663
Directly controlled by VTREF
-
REAL ESTATE · VA
Directly controlled by VTREF
-
CAROLYN CIRCLE LLC
REAL ESTATE · VA
Directly controlled by VTREF
-
BLACKSBURG INVESTMENT PROPERTIES LLC
REAL ESTATE · VA
Directly controlled by VTREF
-
REAL ESTATE · VA · income $1,901,868 · assets $28,728,083
Directly controlled by VTREF
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
HOTEL ROANOKE LLC
RELATED · HOTEL · VA · 28% owned · share of income $8,291,844 · share of assets $9,815,280
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
HR FOUNDATION INC
C · PROPERTY MANAGEMENT · VA · 100% owned · share of income $2,986,191 · share of assets $18,604,031 · controlled entity
Directly controlled by VTREF
-
VIRGINIA TECH CORPORATE RESEARCH CENTER INC
C · RESEARCH · VA
Directly controlled by VTF
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611359349311206
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