Civic Intelligence

Virginia Tech Foundation Inc.

990 • Fiscal year 2015 • EIN 54-0721690

Jul 01, 2014 to Jun 30, 2015 • Filed on May 11, 2016

Organization ProfileWWW.VTF.VT.EDU

View Organization Page

902 Prices Fork RoadBlacksburg, VA 24061

(540) 237-5751

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

37th percentile

0.28x

Higher debt load relative to assets than 37% of similar nonprofits.

2015 filings • 501(c)3 • $1B+ nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

2.12x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • $1B+ nonprofits • Source year 2015

Net Margin

90th percentile

36%

Higher net margin than 90% of similar nonprofits.

2015 filings • 501(c)3 • $1B+ nonprofits • Source year 2015

Top Officer Pay

6th percentile

$417,414

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2015 filings • 501(c)3 • $1B+ nonprofits • Source year 2015

Asset Growth

33rd percentile

1.4%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2014 to 2015

Revenue Growth

78th percentile

15%

Faster revenue growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets37th percentile

Assets

Up

$1,488,911,823

Up $19,891,372 (+1.4%) from 2014

Net Assets

Up

$1,071,847,288

Up $41,475,797 (+4.0%) from 2014

Liabilities

Down

$417,064,535

Down $21,584,425 (-4.9%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin90th percentile

Revenue

Up

$197,168,418

Up $25,249,426 (+15%) from 2014

Expenses

Up

$127,114,430

Up $11,256,325 (+9.7%) from 2014

Net Income

Up

$70,053,988

Up $13,993,101 (+25%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0B$3.0B$2.0B$1.0B$0Assets 2010: $1,000,795,169Liabilities 2010: $296,662,636Net Assets 2010: $704,132,5332010Assets 2011: $1,132,039,543Liabilities 2011: $305,398,240Net Assets 2011: $826,641,3032011Assets 2012: $1,183,587,084Liabilities 2012: $355,323,249Net Assets 2012: $828,263,8352012Assets 2013: $1,277,888,023Liabilities 2013: $366,987,410Net Assets 2013: $910,900,6132013Assets 2014: $1,469,020,451Liabilities 2014: $438,648,960Net Assets 2014: $1,030,371,4912014Assets 2015: $1,488,911,823Liabilities 2015: $417,064,535Net Assets 2015: $1,071,847,2882015Assets 2016: $1,491,192,534Liabilities 2016: $435,592,309Net Assets 2016: $1,055,600,2252016Assets 2017: $1,705,538,123Liabilities 2017: $501,939,685Net Assets 2017: $1,203,598,4382017Assets 2018: $1,882,118,387Liabilities 2018: $588,475,418Net Assets 2018: $1,293,642,9692018Assets 2019: $2,098,062,269Liabilities 2019: $716,733,751Net Assets 2019: $1,381,328,5182019Assets 2020: $2,253,132,781Liabilities 2020: $844,377,394Net Assets 2020: $1,408,755,3872020Assets 2021: $2,705,348,340Liabilities 2021: $975,869,416Net Assets 2021: $1,729,478,9242021Assets 2022: $2,672,087,433Liabilities 2022: $956,281,596Net Assets 2022: $1,715,805,8372022Assets 2023: $2,846,142,047Liabilities 2023: $1,009,099,622Net Assets 2023: $1,837,042,4252023Assets 2024: $3,036,393,497Liabilities 2024: $1,040,196,284Net Assets 2024: $1,996,197,2132024

Highlighted filing

2015

Assets$1,488,911,823
Liabilities$417,064,535
Net Assets$1,071,847,288
Open 2015 Filing

Operations Trend

Revenue Growth78th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400M$300M$200M$100M$0Expenses 2010: $93,731,4292010Expenses 2011: $90,843,9282011Expenses 2012: $99,931,2012012Expenses 2013: $108,977,4012013Revenue 2014: $171,918,992Expenses 2014: $115,858,105Net Income 2014: $56,060,8872014Revenue 2015: $197,168,418Expenses 2015: $127,114,430Net Income 2015: $70,053,9882015Revenue 2016: $156,278,955Expenses 2016: $144,186,100Net Income 2016: $12,092,8552016Revenue 2017: $225,629,111Expenses 2017: $124,220,399Net Income 2017: $101,408,7122017Revenue 2018: $227,169,734Expenses 2018: $136,584,840Net Income 2018: $90,584,8942018Revenue 2019: $233,401,085Expenses 2019: $131,820,737Net Income 2019: $101,580,3482019Revenue 2020: $221,999,686Expenses 2020: $139,214,097Net Income 2020: $82,785,5892020Revenue 2021: $338,678,106Expenses 2021: $114,591,621Net Income 2021: $224,086,4852021Revenue 2022: $317,072,936Expenses 2022: $201,452,391Net Income 2022: $115,620,5452022Revenue 2023: $222,260,777Expenses 2023: $169,496,379Net Income 2023: $52,764,3982023Revenue 2024: $293,759,159Expenses 2024: $182,640,214Net Income 2024: $111,118,9452024

Highlighted filing

2015

Revenue$197,168,418
Expenses$127,114,430
Net Income$70,053,988
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 11, 2016
Return Version
2014v6.0
Gross Receipts
$618,683,245
Mission and Program Overview

Mission

The foundation receives, invests, and manages private assets held for the support of programs at virginia polytechnic institute and state university (university) and to foster and promote the growth, progess and general welfare of the university.

The foundation receives, manages, and disburses private gifts in support of programs at virginia polytechnic institute and state university (virginia tech).

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$598,698,131$571,402,631▼ $27,295,500
Investments in Publicly Traded Securities$311,346,847$368,358,729▲ $57,011,882
Other Notes and Loans Receivable, Net$171,442,188$174,268,083▲ $2,825,895
Land, Buildings, and Equipment, Net$160,147,372$143,285,397▼ $16,861,975
Pledges and Grants Receivable$82,567,654$99,115,351▲ $16,547,697
Savings and Temporary Cash Investments$42,897,906$25,089,439▼ $17,808,467
Prepaid Expenses and Deferred Charges$3,910,866$4,672,476▲ $761,610
Inventories for Sale or Use$2,567,257$2,130,828▼ $436,429
Accounts Receivable$3,421,630$1,889,754▼ $1,531,876
Intangible Assets$42,341$0▼ $42,341
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,469,020,451$1,488,911,823▲ $19,891,372
Other Assets Total$91,978,259$98,699,135▲ $6,720,876
Liabilities
Tax Exempt Bond Liabilities$163,969,299$254,998,502▲ $91,029,203
Other Liabilities$143,703,451$140,794,504▼ $2,908,947
Mortgage Notes Payable Secured by Investment Property$103,620,842$7,591,021▼ $96,029,821
Deferred Revenue$18,199,454$7,435,738▼ $10,763,716
Accounts Payable and Accrued Expenses$9,155,914$6,244,770▼ $2,911,144
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$438,648,960$417,064,535▼ $21,584,425
Net Assets / Fund Balance
Permanently Rstr Net Assets$428,758,069$454,809,905▲ $26,051,836
Temporarily Rstr Net Assets$417,071,157$420,326,806▲ $3,255,649
Unrestricted Net Assets$184,542,265$196,710,577▲ $12,168,312
Total Net Assets Fund Balance$1,030,371,491$1,071,847,288▲ $41,475,797
Total Liabilities and Net Assets / Fund Balance$1,469,020,451$1,488,911,823▲ $19,891,372

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$93,442,565$38,106,384$131,548,949
Land$28,966,447-$28,966,447
Other Land Buildings$16,197,680$5,196,840$21,394,520
Equipment$4,414,406$5,595,070$10,009,476
Leasehold Improvements$264,299$386,277$650,576
Other Assets Org$37,867--
Other Securities$50,262,107--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$753,590,316$29,953,270▲ $27,969,920$17,071,442$771,759,482
2013$611,230,051$45,600,524▲ $137,144,459$18,231,276$753,590,316
2012$547,327,438$21,087,458▲ $87,429,015$14,331,471$611,230,051
2011$556,200,384$19,062,000▲ $6,695,606$15,468,599$547,327,438
2010$460,538,071$37,354,365▲ $90,947,983$13,854,804$556,200,384
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr John E DooleyCEO and SECRETARY TREASURERPT$302,500$36,688$302,500
Daniel WardDirector of InvestmentsFT$299,658$58,908$299,658
Kevin SullivanAvp for Admin & Gen CounselFT$172,333$42,421$172,333
Terri T MitchellAvp for Admin & ControllerFT$161,333$22,756$161,333
Jacob HardwickDirector of Golf OperationsFT$110,856$25,552$136,408
Ebenhard StoddardSenior Investment AnalystFT$134,331$27,215$134,331

Board Members and Trustees

NameTitle
Ben J Davenport JrChairman
Dr Elizabeth a FlanaganExecutive Vice President
M Dwight SheltonExecutive Vice President
Benjamin Z Stallings Ii MdBoard Member
Brandon D PerryBoard Member
Carl G VerboncoeurBoard Member
Darrell D MartinBoard Member
David L CalhounBoard Member
Deborah PetrineBoard Member
Douglas C CurlingBoard Member
Dr Amy G HayesBoard Member
Dr John B RowsellBoard Member
Dr Timothy D SandsBoard Member
Dr Winston a SamuelsBoard Member
Fay H StreetBoard Member
George B Clarke IvBoard Member
Greg J HerremaBoard Member
James E Pearman JrBoard Member
James K AsselstineBoard Member
James a PearsonBoard Member
John R Lawson IiBoard Member
John a Urquhart JrBoard Member
Kristi L RowsellBoard Member
Leonard P HarrisBoard Member
Mary BlackwoodBoard Member
Matthew M Winston JrBoard Member
Michael W ClarkeBoard Member
Nancy H AgeeBoard Member
Peter M RupBoard Member
Robert D Moser JrBoard Member
Sandra C DavisBoard Member
Shawn C JohnsonBoard Member
Theodore S HansonBoard Member
W Todd HoltzmanBoard Member
John CusimanoUniversity Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
English Construction CompanyConst. Services615 CHURCH STREET, Lynchburg, VA 24504$9,648,508
Longent LLCConst. Services7517 PRECISION DR SUITE 102, Raleigh, NC 27617$2,297,863
Artisan Partners Limited PartnershiInv Mgmt Services875 E WISCONSIN AVE SUITE 800, Milwaukee, WI 53202$395,937
Uncork-it INCWebsite Design1971 KRAFT DR SUITE 2600, Blacksburg, VA 24060$333,000
National Public RadioRadio Prog FeesPRSS-635 MASSACHUSETTS AVED, Washington, DC 20001$329,921
Revenue and Support

Revenue Composition

Contributions and Grants
$98,537,794
Program Service Revenue
$19,232,398
Investment Income
$61,358,214
Other Revenue
$18,040,012
All Other Contributions
$98,537,794
Change in Net Assets
$70,053,988

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded325$8,266,801Fair Market Value (FMV)
Other Non Cash Contri Table151$2,599,017Fair Market Value (FMV)
Real Estate Residential10$1,360,000Fair Market Value (FMV)
Other Non Cash Contri Table8$1,119,768Fair Market Value (FMV)
Real Estate Commercial3$589,821-
Other Non Cash Contri Table25$344,701Fair Market Value (FMV)
Clothing and Household Goods-$127,916Fair Market Value (FMV)
Scientific Specimens6$36,645Fair Market Value (FMV)
Cars and Other Vehicles3$29,481-
Works of Art10$17,100Fair Market Value (FMV)
Collectibles28$14,500Fair Market Value (FMV)
Books and Publications-$5,703Fair Market Value (FMV)
Securities Closely Held Stock1$5,000-
Food Inventory7$515Fair Market Value (FMV)
Total Noncash Contributions577$14,516,968-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$96,462,915
Grants and Similar Amounts Paid$25,040,484
Total Fundraising Expense$8,197,098
Salaries, Compensation, and Employee Benefits$5,611,031
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$25,040,484--$25,040,484
All Other Expenses$13,329,209$1,156,087$1,667,100$16,152,396
Interest$409,880$5,044,677-$5,454,557
Other Expenses$1,589,313$3,235,914$43,029$4,825,227
Other Salaries and Wages$1,808,242$2,235,823-$4,044,065
Travel$2,378,133$37,867$870,645$3,286,645
Depreciation Depletion$2,693,011$6,714-$2,699,725
Office Expenses$1,755,152$134,625$748,257$2,638,034
Payroll Taxes$43,668$1,184,110-$1,227,778
Fees for Service Investment Mgmnt Fees$986,109--$986,109
Occupancy$788,421$52,917$52,242$893,580
Insurance$489,346$146,369$1,520$637,235
Advertising$517,483$7,932$43,286$568,701
Current Officers, Directors, Trustees, and Key Employees-$339,188-$339,188
Information Technology$78,939$121,879$115,086$315,904
Conferences and Meetings$175,760$22,034$15,761$213,555
Fees for Services Legal$157,718$21,882$113$179,713
Fees for Services Lobbying$163,188--$163,188
Fees for Services Accounting-$115,530-$115,530
Total Functional Expenses$105,052,141$13,865,191$8,197,098$127,114,430
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Virginia Polytechnic Institute & State UniversityBlacksburg, VA501 (c)(3)Scholarships$25,040,484

International Summary

Offices
1
Spending
$1,772,005

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaInvestments---$1,489,546
Europe (Including Iceland and Greenland)Program ServicesRent1-$282,459
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Deposits Held in Trust$108,571,406
Trust Payment Liabilities$17,484,111
Third Party Trust Obligations$8,525,083
Annuity Obligations$6,213,904

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIDA Montgomery County VA2009-02-12$73,380,0002007 Facilities to support VA
AEconomic Dev Authority of Montgomery County2010-08-26$57,123,909Construction
DEconomic Dev Authority of Montgomery County2011-11-17$55,889,603Construction
CIDA Montgomery County VA2005-08-25$49,830,0002005 Facilities to support the Uni
BEconomic Dev Authority of Montgomery County VA2013-10-30$18,650,559Construction
AEconomic Dev Authority of Montgomery County VA2012-12-27$4,365,000Partial Current Ref of Series 2005

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$73,380,000$0$9,305,000$515,259
A$57,123,909$0$5,249,995$501,809
D$55,889,603$0$3,870,000$388,987
C$49,830,000$0$24,450,000$188,741
B$18,650,559$0$720,000$219,381
A$4,365,000$0$1,265,542$0

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Virginia Tech Foundation Inc
EIN
54-0721690
In Care Of
% DR JOHN E DOOLEY
Phone
5402375751
Address
902 PRICES FORK ROAD, BLACKSBURG, VA 24061

Signing Officer

Name
John E Dooley
Title
CEO and Secretary-treasurer
Phone
5402315751
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr John E Dooley
Formed
1948
Legal Domicile
Va
Voting Board Members
35
Independent Board Members
31
Employees
123
Volunteers
0

Preparer

Firm
Kpmg Llp
Address
1676 International Drive, McLean, VA 22102
Preparer
Raymond Ly
Phone
7032868000
Supplemental Narrative

Additional Explanations

Exempt Purpose Achievements

“Part iii, line 4a in addition, the foundation manages virginia tech's endowment, through which donors to the university make a significant difference to the faculty and students. The foundation is also a responsible corporate citizen. As such, the foundation deploys capital in ways that serve the interests not only of the university, but also of its region. Review of form 990 part vi, line 11b management and the foundation accounting staff provide the necessary financial and other information to the foundation's independent third party tax consultants. The tax consultants review and compile the information into the 990 and 990t forms and provide a draft to management. Management and the associate vice president and controller perform a detailed review of the form prior to forwarding it to the ceo for review. The ceo then reviews the forms. Any issues after these reviews are communicated back to the third party tax consultants. Any issues are corrected and addressed by both parties. Two weeks prior to the filing deadline, the forms are electronically provided to all members of the foundation board of directors. If there are no comments or issues that could not be resolved, the chief executive officer then signs the transmittal form to permit the electronic filing, as required by the irs, on behalf of the foundation. Disclosure of the 990 and 990t will be made in full compliance with the requirements established by the irs.”

Conflict of Interest Policy

“Part VI Line 12c THE VIRGINIA TECH FOUNDATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRES EACH MEMBER (FOUNDATION BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES (RESPONSIBLE PERSONS)) TO COMPLETE AN ANNUAL STATEMENT SETTING FORTH ANY AND ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST THAT OCCURRED DURING THE PAST FISCAL YEAR. IN ADDITION TO THE STATEMENT, AN ANNUAL COMPLIANCE QUESTIONNAIRE MUST BE COMPLETED AND SUBMITTED BY EACH MEMBER. ALSO, IF A CONFLICT SHOULD ARISE THAT WAS NOT PREVIOUSLY DISCLOSED IN THE ANNUAL STATEMENT OR THE QUESTIONNAIRE, A STATEMENT MUST BE SUBMITTED TO THE VIRGINIA TECH FOUNDATION DISCLOSING THE FACTS OF THE SITUATION. THE EXECUTIVE COMMITTEE OF THE FOUNDATION REVIEWS THE QUESTIONNAIRES AND STATEMENTS AND WILL DETERMINE IF A CONFLICT DOES ACTUALLY EXIST. THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TO AUTHORIZE APPROVE OR RATIFY THE ARRANGEMENT/TRANSACTION BASED SOLELY ON WHETHER IT IS IN THE BEST INTERESTS OF THE FOUNDATION IN PERFORMING ITS MISSION.”

Compensation Practices

“PART VI, LINE 15 Board of Directors DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. OFFICERS - EXECUTIVE VICE PRESIDENTS EXECUTIVE VICE PRESIDENTS OF THE FOUNDATION ARE THE UNIVERSITY'S VICE PRESIDENT FOR DEVELOPMENT AND UNIVERSITY RELATIONS, AND CHIEF FINANCIAL OFFICER. THESE POSITIONS ARE EMPLOYED BY AND FUNDED 100% BY THE UNIVERSITY AND THEIR SALARIES AND BENEFITS ARE APPROVED BY THE UNIVERSITY'S BOARD OF VISITORS BASED UPON RECOMMENDATION BY THE UNIVERSITY PRESIDENT. THE UNIVERSITY UTILIZES VARIOUS HIGHER EDUCATION SALARY STUDIES AND DATA FROM PEER INSTITUTIONS IN ESTABLISHING SALARIES AND BENEFITS FOR THESE POSITIONS. OFFICER - CHIEF EXECUTIVE OFFICER AND SECRETARY/TREASURER SALARY AND BENEFITS FOR THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER ARE RECOMMENDED BY THE UNIVERSITY PRESIDENT AND APPROVED BY THE FOUNDATION'S COMPENSATION COMMITTEE. COMPARATIVE SALARY AND BENEFITS INFORMATION IS PROVIDED TO THE COMPENSATION COMMITTEE FOR ITS CONSIDERATION IN MAKING SALARY ADJUSTMENTS AND ESTABLISHING BENEFIT PROGRAMS. PROFESSIONAL AND CLASSIFIED STAFF IT IS THE FOUNDATION'S POLICY TO PROVIDE SALARY AND BENEFITS AS CLOSE AS PRACTIBLE TO THOSE PROVIDED TO UNIVERSITY EMPLOYEES. PROFESSIONAL AND CLASSIFIED STAFF SALARIES ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER AND INCLUDED IN THE BOARD APPROVED ANNUAL OPERATING BUDGET. COMPARATIVE DATA INCLUDING UNIVERSITY AVERAGES FOR SIMILAR POSITIONS ARE USED IN ESTABLISHING AND ADJUSTING SALARIES. MERIT ADJUSTMENTS MIRROR THE UNIVERSITY APPROVED MERIT ADJUSTMENTS EACH YEAR.”

Joint Venture

“Part vi, line 16b the foundation adopted a joint venture policy on september 1, 2009. The policy requires that the foundation evaluate its participation in joint venture agreements under federal tax law and take steps to safeguard the foundation's exempt status with respect to such arrangements.”

Other Change in Net Assets

“PART XI, LINE 9 Change in Split-Interest Agreements.........................$ -3,761,159”

Form 990 Part IX Line 24 - Other Expenses

“Description:ind and prof services total expenses:2046895 program services:1909759 management and general:32482 fundraising:104654”

Form 990 Part IX Line 24 - Other Expenses

“Description:taxes total expenses:68314 program services:68314”

Form 990 Part IX Line 24 - Other Expenses

“Description:meals and entertainment total expenses:3472272 program services:3063776 management and general:24671 fundraising:383825”

Form 990 Part IX Line 24 - Other Expenses

“Description:radio station total expenses:1440608 program services:922695 management and general:278654 fundraising:239259”

Form 990 Part IX Line 24 - Other Expenses

“Description:annuity deferred giving total expenses:72993 program services:72993”

Form 990 Part IX Line 24 - Other Expenses

“Description:professional memberships total expenses:298937 program services:233824 management and general:17900 fundraising:47213”

Form 990 Part IX Line 24 - Other Expenses

“Description:public relations total expenses:1541204 program services:996386 management and general:4237 fundraising:540581”

Form 990 Part IX Line 24 - Other Expenses

“Description:university equipment purchase total expenses:1322872 program services:1213786 management and general:16622 fundraising:92464”

Form 990 Part IX Line 24 - Other Expenses

“Description:non-monetary support to prog total expenses:2580813 program services:2575813 fundraising:5000”

Form 990 Part IX Line 24 - Other Expenses

“Description:rivercourse total expenses:1114555 program services:411511 management and general:703044”

Form 990 Part IX Line 24 - Other Expenses

“Description:maintenance total expenses:632364 program services:599449 management and general:4834 fundraising:28081”

Form 990 Part IX Line 24 - Other Expenses

“Description:other equipment rentals total expenses:197212 program services:114713 management and general:1692 fundraising:80807”

Form 990 Part IX Line 24 - Other Expenses

“Description:misc total expenses:1363357 program services:1146190 management and general:71951 fundraising:145216”

Financial Statement Notes

Collections of Art

“Schedule d, part iii, line 4 vintage and other collection items are used to support the educational and research mission of virginia polytechnic institute and state university.”

Endowment Funds

“Schedule d, part v, line 4 the foundation's endowment consists of approximately 3,379 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the board of directors to function as endowments. The intent is that the principal of the original gift can be used to provide a perpetual stream of financial support to a program, scholarship or professorship at virginia tech. Net assets associated with endowment funds, including funds designated by the board of directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.”

Income Taxes

“Schedule d, part x the internal revenue service has ruled that vtf and vtref qualify under section 501 (c)(3) of the internal revenue code and are, therefore, not generally subject to income taxes under present tax laws. The foundation recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The foundation has analyzed filing positions in the federal and state jurisdictions where it is required to file income tax returns, and no reserves for uncertain tax positions, nor interest and penalties, have been recorded in these consolidated financial statements. The only periods subject to examination are the 2014 through 2015 tax years.”

Raw XML AppendixShowing 400 of 1,733 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm38JACOB HARDWICK
IRS990/Form990PartVIISectionAGrp/PersonNm39EBENHARD STODDARD
IRS990/Form990PartVIISectionAGrp/PersonNm40DANIEL WARD
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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,488,911,823
Liabilities
$417,064,535
Net assets
$1,071,847,288
Revenue
$197,168,418
Expenses
$127,114,430
Net income
$70,053,988
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3,036$1,040$1,996$294$183$111
2023Detailed filing. Detailed filing data is available for this year.$2,846$1,009$1,837$222$169$52.8
2022Detailed filing. Detailed filing data is available for this year.$2,672$956$1,716$317$201$116
2021Detailed filing. Detailed filing data is available for this year.$2,705$976$1,729$339$115$224
2020Detailed filing. Detailed filing data is available for this year.$2,253$844$1,409$222$139$82.8
2019Detailed filing. Detailed filing data is available for this year.$2,098$717$1,381$233$132$102
2018Detailed filing. Detailed filing data is available for this year.$1,882$588$1,294$227$137$90.6
2017Detailed filing. Detailed filing data is available for this year.$1,706$502$1,204$226$124$101
2016Detailed filing. Detailed filing data is available for this year.$1,491$436$1,056$156$144$12.1
2015Detailed filing. Detailed filing data is available for this year.$1,489$417$1,072$197$127$70.1
2014Detailed filing. Detailed filing data is available for this year.$1,469$439$1,030$172$116$56.1
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,278$367$911$109
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,184$355$828$99.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,132$305$827$90.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,001$297$704$93.7