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Nonprofiteer
← VMI FOUNDATION

Form 990 for tax year 2023

Filed by VMI FOUNDATION.

Totals

Total revenue
$26,268,516
Total expenses
$25,973,445
Contributions and grants received
$12,053,980
Grants paid
$22,046,593
Program service revenue
$0
Investment income
$13,628,001
Other revenue
$586,535
Total assets, end of year
$642,086,851
Total liabilities, end of year
$24,317,716
Net assets or fund balances, end of year
$617,769,135
Program services expenses (Part IX)
$22,440,757
Management and general expenses
$2,159,201
Fundraising expenses
$1,373,487
Program service expenses (Part III)
$22,440,757

Program services were 86.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ERNESTO V SAMPSON JR

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 7 related

  • MR DARYL L DEKE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR JOHN F FICK III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR STEPHEN M GODDARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR ROBERT B GORE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DR CHRISTOPHER R GORMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR GARLAND GRAY II

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • COM BREE A GUITERMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR GLEN N JONES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR KIMBER L LATSHA JD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR JOHNATHAN A MAYO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • COL JOSEPH P MOAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR JONATHAN T MOODY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR GALE F SOMMERS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • LT GEN CARL A STROCK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR STERLING T SWEENEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR WILLIAM L TALIAFERRO JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • LT COL CHARLES L TOOMEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MS DORCAS G WILKINSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR JOHN P WILLIAMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MRS ELISE G WOODWORTH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR THOMAS HENRY ZARGES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 7 related

  • MR DANIEL P THORNTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MR ANTHONY U MOORE

    B2

    Total calculated
    $0
    Hours/week
    2

  • MR KURT A POLK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • DAVID L PRASNICKI

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $293,412
    From this org
    $0
    From related orgs
    $278,012
    Other
    $15,400
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $270,200 related
    Bonus
    $0 + $5,700 related
    Other
    $0 + $2,112 related
    Deferred
    $0 + $14,000 related
    Nontaxable benefits
    $0 + $1,400 related
    Filer's total
    $0 + $293,412 related

  • CRISSY S ELLIOTT

    CHIEF FINANCIAL OFFICER

    Total calculated
    $212,684
    From this org
    $0
    From related orgs
    $178,639
    Other
    $34,045
    Hours/week
    2 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,797 related
    Bonus
    $0 + $5,100 related
    Other
    $0 + $742 related
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0 + $4,045 related
    Filer's total
    $0 + $212,684 related

  • MEADE B KING

    CHIEF OPERATING OFFICER

    Total calculated
    $158,479
    From this org
    $145,269
    From related orgs
    $0
    Other
    $13,210
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $140,210
    Bonus
    $3,000
    Other
    $2,059
    Deferred
    $9,984
    Nontaxable benefits
    $3,226
    Filer's total
    $158,479

  • AMY S REID

    CORPORATE SECRETARY

    Total calculated
    $65,271
    From this org
    $52,047
    From related orgs
    $0
    Other
    $13,224
    Hours/week
    40

  • THERESA I CONRAD

    VICE PRESIDENT DEVELOPMENT

    Total calculated
    $157,893
    From this org
    $157,387
    From related orgs
    $0
    Other
    $506
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $153,304
    Bonus
    $1,500
    Other
    $2,583
    Deferred
    $0
    Nontaxable benefits
    $506
    Filer's total
    $157,893

  • KEVIN A RYAN

    FINANCIAL CONTROLLER

    Total calculated
    $96,730
    From this org
    $0
    From related orgs
    $90,417
    Other
    $6,313
    Hours/week
    2 + 44 related

  • GREGORY M CAVALLARO

    SENIOR MAJOR GIFT OFFICER

    Total calculated
    $182,052
    From this org
    $151,765
    From related orgs
    $0
    Other
    $30,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,653
    Bonus
    $0
    Other
    $2,112
    Deferred
    $26,000
    Nontaxable benefits
    $4,287
    Filer's total
    $182,052

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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 1A
TRAVEL EXPENSES FOR COMPANIONS ARE REIMBURSED TO THE ORGANIZATION.
PART I, LINE 3
THE ORGANIZATION HAS A COMPENSATION COMMITTEE THAT REVIEWS ALL SALARIES. COMPARATIVE DATA IS SUPPLIED FOR ALL POSITIONS.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • VMI INVESTMENT HOLDINGS LLC

    ACQUIRE, HOLD AND DISPOSE OF INVESTMENTS, TO INCLUDE AFFILIATED NFP ENTITIES · VA

    Directly controlled by VMI FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349322136

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.