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← VIRGINIA TECH FOUNDATION INC

Form 990 for tax year 2024

Filed by VIRGINIA TECH FOUNDATION INC.

Totals

Total revenue
$245,697,159
Total expenses
$205,689,294
Contributions and grants received
$150,941,016
Grants paid
$121,219,707
Program service revenue
not reported
Investment income
not reported
Other revenue
not reported
Total assets, end of year
not reported
Total liabilities, end of year
not reported
Net assets or fund balances, end of year
not reported
Program services expenses (Part IX)
$187,238,171
Management and general expenses
$10,411,801
Fundraising expenses
$8,039,322
Program service expenses (Part III)
$187,238,171

Program services were 91.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DR TIMOTHY D SANDS

    BOARD MEMBER- EX OFFICIO

    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

  • MR CHARLES D PHLEGAR

    BOARD MEMBER - EX OFFICIO

    Total calculated
    $1,025,442
    From this org
    $0
    From related orgs
    $860,634
    Other
    $164,808
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $826,189 related
    Bonus
    $0
    Other
    $0 + $34,445 related
    Deferred
    $0 + $128,650 related
    Nontaxable benefits
    $0 + $36,158 related
    Filer's total
    $0 + $1,025,442 related

  • DR AMY SEBRING

    BOARD MEMBER - EX OFFICIO

    Total calculated
    $744,282
    From this org
    $0
    From related orgs
    $576,650
    Other
    $167,632
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $573,589 related
    Bonus
    $0
    Other
    $0 + $3,061 related
    Deferred
    $0 + $119,889 related
    Nontaxable benefits
    $0 + $47,743 related
    Filer's total
    $0 + $744,282 related

  • MR WILLIAM N PARK

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR GREGORY GREG C THOMPSON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS JACQUELINE JACKIE L

    ARCHER - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR OMAR M ASALI

    BOARD MEMBER (THRU 12/2024)

    Total calculated
    $0
    Hours/week
    2

  • MR EDWARD H ED BAINE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS TRACY CASTLE-NEWMAN

    BOARD MEMBER (AS OF 01/2025)

    Total calculated
    $0
    Hours/week
    2

  • MR DAVID S DAVE COOPER JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MS TRACI J DESHAZOR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR J BENJAMIN BEN DOUGHTIE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS SHIRLEY EDWARDS

    BOARD MEMBER (AS OF 01/2025)

    Total calculated
    $0
    Hours/week
    2

  • MR GREGORY C GODSEY

    BOARD MEMBER (THRU 12/2024)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR DONALD B DON HALLIWILL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR JONATHAN HILL

    BOARD MEMBER (AS OF 01/2025)

    Total calculated
    $0
    Hours/week
    2

  • MR NATHAN T LAVINKA

    BOARD MEMBER (THRU 12/2024)

    Total calculated
    $0
    Hours/week
    2

  • MR J RYAN LINGERFELT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR STEPHEN T STEVE MASON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR MICHAEL E MIKE MELO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR ROGER H MOORE

    BOARD MEMBER (THRU 12/2024)

    Total calculated
    $0
    Hours/week
    2

  • MR MARTY MUSCATELLO

    BOARD MEMBER (THRU 12/2024)

    Total calculated
    $0
    Hours/week
    2

  • MS CATHERINE CATHY

    PAPOULIAS-SAKELLARIS - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR CHRISTOPHER M QUILLEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS JANE RATHBONE

    BOARD MEMBER (AS OF 01/2025)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR JAMES A JAY ROSENSTOCK

    III - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR CHARLES ROWELL

    BOARD MEMBER (AS OF 01/2025)

    Total calculated
    $0
    Hours/week
    2

  • MS LAILA N ROSSI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS HEMA S SANGHANI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR SHIRISH S SATHAYE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR CHRISTOPHER W CHRIS

    SHEAN - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS ADELA SKENDERASI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR KEITH STEMPLE

    BOARD MEMBER (AS OF 07/2024)

    Total calculated
    $0
    Hours/week
    2

  • MR JAMES N STRAWBRIDGE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR DWYN TAYLOR - BOARD MEMBER

    VT VP FOR FACILITIES(THRU 12/2024)

    Total calculated
    $340,522
    From this org
    $0
    From related orgs
    $306,727
    Other
    $33,795
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $302,323 related
    Bonus
    $0
    Other
    $0 + $4,404 related
    Deferred
    $0 + $25,734 related
    Nontaxable benefits
    $0 + $8,061 related
    Filer's total
    $0 + $340,522 related

  • MR JOHN T THOMPSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR BRUCE W TYLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MR WILLIAM LAKE WAGNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MS JANE WEST

    BOARD MEMBER (AS OF 07/2024)

    Total calculated
    $0
    Hours/week
    2

  • MR RICHARD R RICHIE WHITT

    III - BOARD MEMBER (THRU 12/2024)

    Total calculated
    $0
    Hours/week
    2

  • MS MARGARET L WICKES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • 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

  • ELIZABETH A MCCLANAHAN

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $912,041
    From this org
    $868,291
    From related orgs
    $0
    Other
    $43,750
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $578,375
    Bonus
    $285,437
    Other
    $4,479
    Deferred
    $36,812
    Nontaxable benefits
    $6,938
    Filer's total
    $912,041

  • MS ANNE KEELER

    CFO & TREASURER

    Total calculated
    $420,703
    From this org
    $360,297
    From related orgs
    $0
    Other
    $60,406
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $356,733
    Bonus
    $0
    Other
    $3,564
    Deferred
    $39,143
    Nontaxable benefits
    $21,263
    Filer's total
    $420,703

  • MR KENNETH S SMITH

    COO & SECRETARY

    Total calculated
    $306,651
    From this org
    $306,651
    From related orgs
    $0
    Other
    $0
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $300,237
    Bonus
    $2,500
    Other
    $3,914
    Deferred
    $32,662
    Nontaxable benefits
    $1,525
    Filer's total
    $340,838

  • MS KAREN COOK - BOARD MANAGER

    & ASS. SECRETARY (AS OF 10/2024)

    Total calculated
    $146,206
    From this org
    $102,747
    From related orgs
    $0
    Other
    $43,459
    Hours/week
    38 + 2 related

  • MR DAVID GREENBERG

    CHIEF INVESTMENT OFFICER

    Total calculated
    $1,570,447
    From this org
    $1,494,627
    From related orgs
    $0
    Other
    $75,820
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $790,885
    Bonus
    $702,500
    Other
    $1,242
    Deferred
    $40,368
    Nontaxable benefits
    $35,452
    Filer's total
    $1,570,447

  • MR LOUIE VUONG

    INVESTMENT MANAGER

    Total calculated
    $462,034
    From this org
    $405,983
    From related orgs
    $0
    Other
    $56,051
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,049
    Bonus
    $162,500
    Other
    $6,434
    Deferred
    $43,407
    Nontaxable benefits
    $12,644
    Filer's total
    $462,034

  • MS MARGARET MILLHISER

    MANAGING DIRECTOR - INVESTMENTS

    Total calculated
    $447,791
    From this org
    $370,378
    From related orgs
    $0
    Other
    $77,413
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,307
    Bonus
    $85,625
    Other
    $446
    Deferred
    $41,364
    Nontaxable benefits
    $36,049
    Filer's total
    $447,791

  • MS TAMMY COSTIGAN

    CONTROLLER

    Total calculated
    $240,439
    From this org
    $181,523
    From related orgs
    $0
    Other
    $58,916
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,127
    Bonus
    $2,500
    Other
    $896
    Deferred
    $24,210
    Nontaxable benefits
    $34,706
    Filer's total
    $240,439

  • MR JAMES FORD

    MANAGING DIRECTOR OF IT

    Total calculated
    $237,478
    From this org
    $182,783
    From related orgs
    $0
    Other
    $54,695
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,817
    Bonus
    $16,160
    Other
    $806
    Deferred
    $23,965
    Nontaxable benefits
    $30,730
    Filer's total
    $237,478

  • MS MARY YOLANDA TRIGIANI

    CSO. & DIR. EXTERNAL RELATIONS

    Total calculated
    $195,888
    From this org
    $169,378
    From related orgs
    $0
    Other
    $26,510
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,878
    Bonus
    $2,500
    Other
    $0
    Deferred
    $17,665
    Nontaxable benefits
    $8,845
    Filer's total
    $195,888

  • DR JOHN DOOLEY

    FORMER CEO; SA VT ATHLETIC DIR

    Total calculated
    $144,000
    From this org
    $144,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0 + 20 related

    Schedule J breakdown matched by us

    Base
    $144,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $62
    Filer's total
    $144,062

  • MS TERRI T MITCHELL

    FORMER SECRETARY

    Total calculated
    $556,469
    From this org
    $521,952
    From related orgs
    $0
    Other
    $34,517
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $139,705
    Bonus
    $0
    Other
    $382,247
    Deferred
    $18,274
    Nontaxable benefits
    $16,243
    Filer's total
    $556,469

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 · 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: KENNETH S. SMITH, ELIZABETH A. MCCLANAHAN, AND ANNE B. KEELER. THE AMOUNT IS TREATED AS TAXABLE COMPENSATION.
PART I, LINE 3
COMPENSATION PROCESS THE COMPENSATION COMMITTEE OF VIRGINIA TECH FOUNDATION (VTF) BOARD OF DIRECTORS DETERMINES THE SALARY AND BENEFITS OF THE VTF CHIEF EXECUTIVE OFFICER. THE COMMITEE IS COMPRISED OF AT LEAST THREE INDEPENDENT DIRECTORS. THE COMMITTEE REVIEWS COMPARATIVE DATA ON COMPENSATION AND DOCUMENTS THE COMPENSATION DECISION CONTEMPORANEOUSLY.
PART I, LINES 4A-B
SEVERANCE PAYMENT THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT FROM THE ORGANIZATION: MS. TERRI T. MITCHELL - $319,838 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DR. JOHN DOOLEY PARTICIPATES IN THE VTF 457(B) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. DR. TIMOTHY SANDS, MR. CHARLES PHLEGAR, DR. AMY SEBRING, MR. DWYN TAYLOR, AND DR. CYRIL R. CLARKE ARE EMPLOYEES OF A RELATED ORGANIZATION, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY AND THEY RECEIVE DEFERRED COMPENSATION AS A RESULT OF THEIR EMPLOYMENT AGREEMENT WITH VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY.
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

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.

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 $8,935,738

    Directly controlled by VTF

  • VT TECHNOLOGY ASSETS LLC

    INFO TECH · VA · income $160,022 · assets $4,930,093

    Directly controlled by VTF

  • VTF-VEP II LLC

    INVESTMENTS · VA · income $2,586,000 · assets $13,633,500

    Directly controlled by VTF

  • MAROON ASIA I LLC

    INVESTMENTS · VA · income $0 · assets $2,552,919

    Directly controlled by VTF

  • MAROON US PCC LLC

    INVESTMENTS · VA · income $0 · assets $0

    Directly controlled by VTF

  • ORANGE US LLC

    INVESTMENTS · VA · income $1,402,933 · assets $14,593,436

    Directly controlled by VTF

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

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 $9,043,000 · share of assets $20,391,000 · 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 · 100% owned · share of income $2,986,191 · share of assets $18,604,031 · 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
2024
Filed
16 June 2026
IRS schema version
2024v5.5
Source object
202621689349300007

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