Civic Intelligence

Virginia Tech Services Inc.

990 • Fiscal year 2016 • EIN 54-0836195

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 09, 2016

115 Kent StreetBlacksburg, VA 24061-0407

(540) 231-5991

Siviq Scores

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

Liabilities / Assets

78th percentile

0.61x

Higher debt load relative to assets than 78% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

0.88x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

39th percentile

0.2%

Higher net margin than 39% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

88th percentile

$420,474

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

8th percentile

-11%

Faster asset growth than 8% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

66th percentile

9.0%

Faster revenue growth than 66% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Down

$11,334,314

Down $1,451,922 (-11%) from 2015

Net Assets

Up

$4,442,714

Up $14,985 (+0.3%) from 2015

Liabilities

Down

$6,891,600

Down $1,466,907 (-18%) from 2015

Revenue

Up

$7,850,894

Up $645,713 (+9.0%) from 2015

Expenses

Up

$7,835,909

Up $631,494 (+8.8%) from 2015

Net Income

Up

$14,985

Up $14,219 (+1856%) from 2015

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $12,549,294Liabilities 2010: $8,341,331Net Assets 2010: $4,207,9632010Assets 2011: $11,815,402Liabilities 2011: $7,597,233Net Assets 2011: $4,218,1692011Assets 2012: $11,101,317Liabilities 2012: $6,796,812Net Assets 2012: $4,304,5052012Assets 2013: $12,415,625Liabilities 2013: $8,018,894Net Assets 2013: $4,396,7312013Assets 2014: $10,512,858Liabilities 2014: $6,085,895Net Assets 2014: $4,426,9632014Assets 2015: $12,786,236Liabilities 2015: $8,358,507Net Assets 2015: $4,427,7292015Assets 2016: $11,334,314Liabilities 2016: $6,891,600Net Assets 2016: $4,442,7142016Assets 2017: $10,594,992Liabilities 2017: $6,445,273Net Assets 2017: $4,149,7192017Assets 2018: $8,762,282Liabilities 2018: $4,585,694Net Assets 2018: $4,176,5882018Assets 2019: $6,602,039Liabilities 2019: $2,521,686Net Assets 2019: $4,080,3532019Assets 2020: $7,310,978Liabilities 2020: $2,332,634Net Assets 2020: $4,978,3442020Assets 2021: $7,380,214Liabilities 2021: $2,301,639Net Assets 2021: $5,078,5752021Assets 2022: $8,676,644Liabilities 2022: $2,789,432Net Assets 2022: $5,887,2122022Assets 2023: $11,449,228Liabilities 2023: $4,068,753Net Assets 2023: $7,380,4752023Assets 2024: $12,869,418Liabilities 2024: $3,522,344Net Assets 2024: $9,347,0742024Assets 2025: $10,469,318Liabilities 2025: $65,247Net Assets 2025: $10,404,0712025

Highlighted filing

2016

Assets$11,334,314
Liabilities$6,891,600
Net Assets$4,442,714

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $7,321,8052010Expenses 2011: $7,532,5462011Expenses 2012: $7,151,9882012Revenue 2013: $7,178,965Expenses 2013: $7,086,739Net Income 2013: $92,2262013Revenue 2014: $7,044,739Expenses 2014: $7,014,507Net Income 2014: $30,2322014Revenue 2015: $7,205,181Expenses 2015: $7,204,415Net Income 2015: $7662015Revenue 2016: $7,850,894Expenses 2016: $7,835,909Net Income 2016: $14,9852016Revenue 2017: $7,381,170Expenses 2017: $7,674,165Net Income 2017: -$292,9952017Revenue 2018: $7,652,318Expenses 2018: $7,625,449Net Income 2018: $26,8692018Revenue 2019: $6,269,268Expenses 2019: $6,409,136Net Income 2019: -$139,8682019Revenue 2020: $4,172,135Expenses 2020: $3,438,117Net Income 2020: $734,0182020Revenue 2021: $2,530,562Expenses 2021: $2,430,331Net Income 2021: $100,2312021Revenue 2022: $3,908,616Expenses 2022: $3,036,778Net Income 2022: $871,8382022Revenue 2023: $4,249,842Expenses 2023: $2,881,427Net Income 2023: $1,368,4152023Revenue 2024: $4,533,795Expenses 2024: $2,886,518Net Income 2024: $1,647,2772024Revenue 2025: $2,408,417Expenses 2025: $1,673,273Net Income 2025: $735,1442025

Highlighted filing

2016

Revenue$7,850,894
Expenses$7,835,909
Net Income$14,985
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 9, 2016
Return Version
2015v2.1
Gross Receipts
$24,398,070
Mission and Program Overview

Mission

To own and operate bookstores and provide other services for the use and benefit of students, faculty, staff, and alumni of virginia polytechnic institute and state university and to transfer, as the board of directors may determine, any surplus funds to the university or the virginia tech foundation, inc. For allocation and use by the university, as the president of the university and board of visitors deem appropriate.

To own and operate bookstores and other services for the use and benefit of students, faculty, staff, and alumni on or near the campus of va polytechnic & state university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$7,094,897$5,498,674▼ $1,596,223
Savings and Temporary Cash Investments$2,320,752$2,409,692▲ $88,940
Land, Buildings, and Equipment, Net$1,878,438$1,613,383▼ $265,055
Cash and Non-Interest-Bearing Accounts$871,984$933,822▲ $61,838
Prepaid Expenses and Deferred Charges$329,420$496,188▲ $166,768
Accounts Receivable$242,529$364,038▲ $121,509
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$12,786,236$11,334,314▼ $1,451,922
Other Assets Total$48,216$18,517▼ $29,699
Liabilities
Accounts Payable and Accrued Expenses$6,728,789$5,009,035▼ $1,719,754
Mortgage Notes Payable Secured by Investment Property$1,354,718$1,155,565▼ $199,153
Grants Payable$275,000$727,000▲ $452,000
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$8,358,507$6,891,600▼ $1,466,907
Net Assets / Fund Balance
Unrestricted Net Assets$4,427,729$4,442,714▲ $14,985
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$4,427,729$4,442,714▲ $14,985
Total Liabilities and Net Assets / Fund Balance$12,786,236$11,334,314▼ $1,451,922

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$773,900$3,462,663$4,236,563
Equipment$839,483$2,963,446$3,802,929
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald J WilliamsExecutive DirectorFT$189,660$15,581$205,241
Wanda SmithVice Chair--$140,268$140,268
Margarita McgrathDirector--$78,634$78,634

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$24,482
Other Revenue
$7,826,412
Change in Net Assets
$14,985

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,850,894
Total Revenue per Audited Statements
$7,850,894
Total Revenue per Form 990
$7,850,894
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,082,432
Other Expenses$3,026,477
Grants and Similar Amounts Paid$727,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,268,135$825,448-$3,093,583
Occupancy$830,932--$830,932
Grants to Domestic Orgs$727,000--$727,000
Depreciation Depletion$272,807$174,528-$447,335
Other Employee Benefits$179,208$145,373-$324,581
Information Technology$55,937$229,218-$285,155
Advertising$1,639$253,828-$255,467
Payroll Taxes$165,120$69,139-$234,259
Current Officers, Directors, Trustees, and Key Employees-$224,606-$224,606
Office Expenses$149,687$59,390-$209,077
Pension Plan Contributions$104,207$101,196-$205,403
Other Expenses$92,238$16,721-$108,959
Fees for Services Accounting-$79,215-$79,215
Insurance$56,069$17,143-$73,212
Fees for Services Other$1,850$68,914-$70,764
Interest-$40,068-$40,068
Travel$14,230$18,674-$32,904
All Other Expenses$18,848$152-$19,000
Conferences and Meetings$7,169$3,654-$10,823
Fees for Services Legal-$2,293-$2,293
Total Functional Expenses$5,449,224$2,386,685$0$7,835,909

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,835,909
Total Expenses per Audited Statements$7,835,909
Total Expenses per Form 990$7,835,909
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Virginia Tech Foundation IncBlacksburg, VA501(c)(3)See Part Iv$727,000
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
No
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
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
No
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

Governance Explanations

Form 990 Part VI Line 11B

The Form 990 was prepared by KPMG LLP. THE FORM 990 WAS FULLY REVIEWED BY THE CORPORATE MANAGEMENT (THE EXECUTIVE DIRECTOR AND CONTROLLER), PROVIDED TO THE EXECUTIVE COMMITTEE IN ELECTRONIC FORMAT, APPROVED BY THE EXECUTIVE COMMITTEE, AND THEN PROVIDED TO THE FULL BOARD OF DIRECTORS IN ELECTRONIC FORMAT, PRIOR TO BEING FILED WITH THE IRS. IN ADDITION, THE FORM 990 WAS PREPARED AND FULLY REVIEWED BY KPMG LLP.

Form 990 Part VI Line 12C

The corporation has a written conflict of interest policy. The corporation distributes a conflict of interest acknowledgement and disclosure form to all directors, officers, and full-time employees on an annual basis. All directors, officers, and full-time employees complete, sign, and submit this acknowledgement and disclosure form to the corporation annually. All forms are reviewed by management.

Form 990 Part VI Line 19

The corporation does not make its governing documents, conflict of interest or financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Virginia Tech Services Inc
EIN
54-0836195
In Care Of
% ODIE FTHENOS
Phone
5402315991
Address
115 KENT STREET, BLACKSBURG, VA 24061-0407

Signing Officer

Name
Donald J Williams
Title
Executive Director
Signed
2016-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald J Williams
Formed
1968
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
2
Employees
762
Volunteers
0

Preparer

Firm
Kpmg Llp
Address
1676 International Drive Ste 1200, McLean, VA 22102
Preparer
JG White
Phone
7032868000
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

The corporation is a tax exempt organization under section 501(c)(3) of the internal revenue code and is, therefore, not generally subject to income taxes under present tax laws. Management of virginia tech services, inc. Believes that any income tax liability resulting from unrelated business income for the years ended june 30, 2016 and june 30, 2015 would not have a significant impact on the corporation's changes in unrestricted net assets. The corporation has analyzed filing positions in the federal and state jurisidctions where it is required to file income tax returns, including its status as a tax-exempt organization, and no reserves for uncertain tax positions, nor interest and penalties, have been recorded in these financial statements. The only periods subject to examination are the 2012 through 2015 tax years.

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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE DIRECTOR
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IRS990/MissionDesc0TO OWN AND OPERATE BOOKSTORES AND OTHER SERVICES FOR THE USE AND BENEFIT OF STUDENTS, FACULTY, STAFF, AND ALUMNI OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY AND TO TRANSFER AS THE BOARD OF DIRECTORS MAY DETERMINE, ANY SUPRLUS FUNDS TO THE UNIVERSITY OR THE VIRGINIA TECH FOUNDATION, INC. FOR ALLOCATION AND USE BY THE UNIVERSITY AS THE PRESIDENT AND BOARD OF VISITORS DEEM APPROPRIATE.
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IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt05912815
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt06513087
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0600272
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IRS990/OtherExpensesGrp/Desc1LIGHTS AND POWER
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt129565
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt216721
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IRS990/OtherExpensesGrp/ProgramServicesAmt27130
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IRS990/OtherSalariesAndWagesGrp/TotalAmt03093583
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0165120
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0101196
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0104207
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IRS990/PrincipalOfficerNm0DONALD J WILLIAMS
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IRS990/ProgSrvcAccomActy2Grp/Desc0CONTRIBUTION TO VIRGINIA TECH FOUNDATION, INC FOR USE BY THE UNIVERSITY PRESIDENT AND BOARD OF VISITORS FOR THE BENEFIT OF THE STUDENTS AND FACULTY.
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IRS990/ProgSrvcAccomActy3Grp/Desc0OPERATION OF VOLUME TWO BOOKSTORE, THE OBJECTIVE OF WHICH IS TO BENEFIT THE STUDENTS, FACULTY, AND STAFF OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01235590
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OPERATION OF DIETRCIK CONVENIENCE STORE
IRS990/ProgSrvcAccomActyOtherGrp/Desc1OPERATION OF VENDING SERVICES
IRS990/ProgSrvcAccomActyOtherGrp/Desc2OPERATION OF HOKIE CENTRIC STORE
IRS990/ProgSrvcAccomActyOtherGrp/Desc3OPERATION OF STARBUCKS COFFEE STORE
IRS990/ProgSrvcAccomActyOtherGrp/Desc4OPERATION OF SQUIRES CONVENIENCE STORE
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt1144034
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt2406133
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt3425701
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt50
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IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt2286657
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt30
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$10.5$0.07$10.4$2.41$1.67$0.74
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.9$3.52$9.35$4.53$2.89$1.65
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.4$4.07$7.38$4.25$2.88$1.37
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.68$2.79$5.89$3.91$3.04$0.87
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.38$2.30$5.08$2.53$2.43$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.31$2.33$4.98$4.17$3.44$0.73
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.60$2.52$4.08$6.27$6.41$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.76$4.59$4.18$7.65$7.63$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$6.45$4.15$7.38$7.67$0.29
2016Detailed filing. Detailed filing data is available for this year.$11.3$6.89$4.44$7.85$7.84$0.01
2015Detailed filing. Detailed filing data is available for this year.$12.8$8.36$4.43$7.21$7.20$0.00
2014Detailed filing. Detailed filing data is available for this year.$10.5$6.09$4.43$7.04$7.01$0.03
2013Summary only. Only limited summary data is available for this year.$12.4$8.02$4.40$7.18$7.09$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$6.80$4.30$7.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$7.60$4.22$7.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$8.34$4.21$7.32