Virginia Tech Foundation Inc
86% goes to programs $5 to raise $100 Strong reserves
Virginia Tech Foundation Inc is a 501(c)(3) organization based in Blacksburg, Virginia, registered in 1949, with $293,759,159 in FY2023 revenue. CharityIndex grades it A, and it directs about 86% of spending to programs.
902 Prices Fork Rd Ste 4400, Blacksburg, VA, 24060 EIN 54-0721690 Since 1949
Revenue (FY2023)
$293.8M
▲ 32.2% vs prior year
Education median: $200K
Expenses (FY2023)
$182.6M
Net assets
$2.0B
Employees
88
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating86% to programs · $5 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Virginia Tech Foundation Inc: 86% to programs · $5 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating131 mo reserves · +38% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Virginia Tech Foundation Inc: 131 mo reserves · +38% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Virginia Tech Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Virginia Tech Foundation Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
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.
Contact & location
- Address
- 902 Prices Fork Rd Ste 4400, Blacksburg, VA, 24060
- City
- Blacksburg
- State
- Virginia
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $171.9M (FY2013) to $293.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $1.0BNet assets $2.0B
Operating margin
37.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.0B
Total liabilities
$1.0B
Net assets
$2.0B
Salaries & benefits
$9.6M
5% of expenses
Board members
36
32 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $293,759,159▲32.2% | $182,640,214▲7.8% | $1,996,197,213▲8.7% | $3,036,393,497▲6.7% | 990 |
| 2022 | $222,260,777▼29.9% | $169,496,379▼15.9% | $1,837,042,425▲7.1% | $2,846,142,047▲6.5% | 990 |
| 2021 | $317,072,936▼6.4% | $201,452,391▲75.8% | $1,715,805,837▼0.8% | $2,672,087,433▼1.2% | 990 |
| 2020 | $338,678,106▲52.6% | $114,591,621▼17.7% | $1,729,478,924▲22.8% | $2,705,348,340▲20.1% | 990 |
| 2019 | $221,999,686▼4.9% | $139,214,097▲5.6% | $1,408,755,387▲2.0% | $2,253,132,781▲7.4% | 990 |
| 2018 | $233,401,085▲2.7% | $131,820,737▼3.5% | $1,381,328,518▲6.8% | $2,098,062,269▲11.5% | 990 |
| 2017 | $227,169,734▲0.7% | $136,584,840▲10.0% | $1,293,642,969▲7.5% | $1,882,118,387▲10.4% | 990 |
| 2016 | $225,629,111▲44.4% | $124,220,399▼13.8% | $1,203,598,438▲14.0% | $1,705,538,123▲14.4% | 990 |
| 2015 | $156,278,955▼20.7% | $144,186,100▲13.4% | $1,055,600,225▼1.5% | $1,491,192,534▲0.2% | 990 |
| 2014 | $197,168,418▲14.7% | $127,114,430▲9.7% | $1,071,847,288▲4.0% | $1,488,911,823▲1.4% | 990 |
| 2013 | $171,918,992 | $115,858,105▲6.3% | $1,030,371,491▲13.1% | $1,469,020,451▲15.0% | 990 |
| 2012 | — | $108,977,401▲9.1% | $910,900,613▲10.0% | $1,277,888,023▲8.0% | 990 |
| 2011 | — | $99,931,201▲10.0% | $828,263,835▲0.2% | $1,183,587,084▲4.6% | 990 |
| 2010 | — | $90,843,928▼3.1% | $826,641,303▲17.4% | $1,132,039,543▲13.1% | 990 |
| 2009 | — | $93,731,429 | $704,132,533 | $1,000,795,169 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Mr Daniel Ward — $1,359,544 (0.74% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mr Daniel Ward | Former Avp/cio Endowmment | 0 | $1,359,544 |
| Mr David Greenberg | Chief Invesment Officer | 40 | $921,129 |
| Elizabeth A Mcclanahan | Chief Executive Officer | 30 | $669,577 |
| Ms Terri T Mitchell | Assistant Secretary (as of 09/2023) | 38 | $269,127 |
| Ms Anne B Keeler | Cfo & Treasurer | 38 | $191,923 |
| Ms Tammy Costigan | Controller | 40 | $178,108 |
| Mr James Ford | Director of It | 40 | $170,661 |
| Ms Carrie Woodring | Director of Real Estate | 40 | $151,416 |
| Dr John Dooley | Former Ceo; Sa Vt Athletic Dir | 0 | $146,962 |
| Ms Mary Yolanda Trigiani | Managing Director of Planning | 40 | $145,826 |
| Ms Janet Tuckwiller | Senior Associate General Counsel | 40 | $144,336 |
| Mr Kenneth S Smith | Coo (as 08/2023) | 38 | $110,207 |
| Dr Amy S Sebring | Board Member-ex Officio | 2 | — |
| Dr Timothy D Sands | Board Member-ex Officio | 2 | — |
| Mr Bruce W Tyler | Board Member (as of 09/2023) | 2 | — |
| Mr Charles D Phlegar | Board Member-ex Officio | 2 | — |
| Mr Chris Kiwus | Board Member-ex Officio (thru 11/23) | 2 | — |
| Mr Christopher J Brightman | Board Member (thru 09/2023) | 2 | — |
| Mr Christopher M Quillen | Board Member | 2 | — |
| Mr Christopher W Shean | Board Member | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| L5 the Expo Group Ltd | Event Services | $502,643 |
| Aecom Technical Services Inc | Construction | $482,625 |
| Blackbuad Inc | Online Services | $389,320 |
| Nepc LLC | Consulting Services | $325,549 |
| Mcr Inc | Mailing Services | $315,562 |
Grants received · $86.2M total
320 grants to Virginia Tech Foundation Inc totaling $86.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Norwich University | For software tools to support the services plans for command and control of the information environment; to create and manage a collaborative cybersecurity educational program with community colleges, colleges, and universities that establishes standards for cybersecurity curriculum and academic excellence, includes competency development among students and faculty, values community outreach and leadership in professional development, integrates cybersecurity practice within the institution across academic disciplines, actively engages in solutions to challenges facing cybersecurity education | 2024 | $2,723,068 |
| Ayco Charitable Foundation | Education | 2024 | $1,933,000 |
| American Online Giving Foundation Inc | General support | 2024 | $511,888 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $455,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $415,942 |
| The Community Foundation Inc | Educational success | 2024 | $394,611 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $345,852 |
| The Dallas Foundation | General support | 2024 | $245,000 |
| American Endowment Foundation | Educational | 2024 | $209,500 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $120,100 |
| American Cancer Society Inc | Extramural research grant | 2024 | $113,694 |
| Minneapolis Foundation | Donor advised, education | 2024 | $77,500 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $61,920 |
| American Bureau of Shipping | Abs 2024 scholarships for tuition and books. | 2024 | $60,000 |
| American Gift Fund | Operations | 2024 | $38,500 |
Grants made · $97.2M in FY2023
6 grants totaling $97.2M in FY2023. All grants made by Virginia Tech Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Virginia Polytechnic Institute & State University | Scholarship | $44,855,081 |
| Virginia Polytechnic Institute & State University | University salaries | $31,276,162 |
| Virginia Polytechnic Institute & State University | Department programs | $20,913,907 |
| Community United Methodist Church | General support (daf) | $90,000 |
| Azcms Cares Foundation | General support (daf) | $30,000 |
| Fordham University | General support (daf) | $10,000 |
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Frequently asked questions
- Is Virginia Tech Foundation Inc a legitimate nonprofit?
- Yes. Virginia Tech Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 54-0721690, based in Blacksburg, Virginia. Donations are tax-deductible.
- What is Virginia Tech Foundation Inc's EIN?
- Virginia Tech Foundation Inc's Employer Identification Number (EIN) is 54-0721690.
- How much revenue does Virginia Tech Foundation Inc report?
- Virginia Tech Foundation Inc reported $293,759,159 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Virginia Tech Foundation Inc's spending goes to programs?
- Virginia Tech Foundation Inc spends about 86% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Virginia Tech Foundation Inc have?
- CharityIndex grades Virginia Tech Foundation Inc A, based on program efficiency and fundraising cost.
- How much does Virginia Tech Foundation Inc's highest-paid employee make?
- The highest reported compensation on Virginia Tech Foundation Inc's latest Form 990 is $1,359,544, paid to Mr Daniel Ward (Former Avp/cio Endowmment).
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Data for Virginia Tech Foundation Inc (EIN 54-0721690) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.