Civic Intelligence

Virginia Tech Services Inc.

990 • Fiscal year 2018 • EIN 54-0836195

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 06, 2018

Organization ProfileWWW.BOOKSTORE.VT.EDU

View Organization Page

115 Kent St Virginia Tech CampusBlacksburg, VA 24061-0407

(540) 231-5991

Siviq Scores

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

Liabilities / Assets

74th percentile

0.52x

Higher debt load relative to assets than 74% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

71st percentile

0.60x

Higher debt load relative to revenue than 71% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

38th percentile

0.4%

Higher net margin than 38% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

88th percentile

$436,641

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

4th percentile

-17%

Faster asset growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

49th percentile

3.7%

Faster revenue growth than 49% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$8,762,282

Down $1,832,710 (-17%) from 2017

Net Assets

Up

$4,176,588

Up $26,869 (+0.6%) from 2017

Liabilities

Down

$4,585,694

Down $1,859,579 (-29%) from 2017

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin38th percentile

Revenue

Up

$7,652,318

Up $271,148 (+3.7%) from 2017

Expenses

Down

$7,625,449

Down $48,716 (-0.6%) from 2017

Net Income

Up

$26,869

Up $319,864 (+109%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

2018

Assets$8,762,282
Liabilities$4,585,694
Net Assets$4,176,588
Open 2018 Filing

Operations Trend

Revenue Growth49th percentile

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

2018

Revenue$7,652,318
Expenses$7,625,449
Net Income$26,869
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 6, 2018
Return Version
2017v2.3
Gross Receipts
$22,160,079
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$5,322,089$4,307,271▼ $1,014,818
Savings and Temporary Cash Investments$1,819,990$2,103,395▲ $283,405
Land, Buildings, and Equipment, Net$1,400,683$1,225,793▼ $174,890
Cash and Non-Interest-Bearing Accounts$1,118,802$563,605▼ $555,197
Prepaid Expenses and Deferred Charges$442,043$387,718▼ $54,325
Accounts Receivable$460,520$140,769▼ $319,751
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$10,594,992$8,762,282▼ $1,832,710
Other Assets Total$30,865$33,731▲ $2,866
Liabilities
Accounts Payable and Accrued Expenses$5,033,000$3,189,075▼ $1,843,925
Mortgage Notes Payable Secured by Investment Property$950,006$737,835▼ $212,171
Grants Payable$362,000$575,000▲ $213,000
Other Liabilities$100,267$83,784▼ $16,483
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$6,445,273$4,585,694▼ $1,859,579
Net Assets / Fund Balance
Unrestricted Net Assets$4,149,719$4,176,588▲ $26,869
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$4,149,719$4,176,588▲ $26,869
Total Liabilities and Net Assets / Fund Balance$10,594,992$8,762,282▼ $1,832,710

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$950,856$3,870,989$4,821,845
Equipment$274,937$3,137,211$3,412,148
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald J WilliamsExecutive DirectorFT$194,198$41,995$236,193
Ann-marie KnoblauchDirector--$118,982$118,982
Patty J FisherDirector--$106,450$106,450

Board Members and Trustees

NameTitle
Bernard W Taylor IiiChair
Bill Carstensen JrVice Chair
Arthur J KeownDirector
Cyril R ClarkeDirector
Joseph E MillsDirector
M Dwight Shelton JrDirector
Patricia a PerilloDirector
Ronald D Fricker JrDirector
Sarah E SteinDirector
John E DooleySecretary-treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$10,827
Other Revenue
$7,641,491
Change in Net Assets
$26,869

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,652,318
Total Revenue per Audited Statements
$7,652,318
Total Revenue per Form 990
$7,652,318
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,392,032
Other Expenses$2,658,417
Grants and Similar Amounts Paid$575,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,452,573$838,865-$3,291,438
Occupancy$837,179--$837,179
Grants to Domestic Orgs$575,000--$575,000
Other Employee Benefits$206,014$199,692-$405,706
Information Technology$87,568$237,225-$324,793
Depreciation Depletion$229,446$94,107-$323,553
Payroll Taxes$190,890$56,702-$247,592
Current Officers, Directors, Trustees, and Key Employees-$236,193-$236,193
Pension Plan Contributions$114,200$96,903-$211,103
Office Expenses$116,965$60,429-$177,394
Advertising$819$157,076-$157,895
Fees for Services Accounting-$157,873-$157,873
Insurance$71,361--$71,361
Other Expenses$-10,924$41,062-$30,138
Interest-$27,050-$27,050
Conferences and Meetings$2,234$2,922-$5,156
Travel$1,900$483-$2,383
Fees for Services Other$1,500--$1,500
Total Functional Expenses$5,379,457$2,245,992$0$7,625,449

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,625,449
Total Expenses per Audited Statements$7,625,449
Total Expenses per Form 990$7,625,449
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Virginia Tech Foundation IncBlacksburg, VA501(c)(3)See Part Iv$575,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Construction Allowances$83,784
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

Governance Explanations

Form 990, Part VI, Line 11B

“The Form 990 was prepared AND FULLY REVIEWED 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.”

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 15A

“The Board sets the compensation of the Executive Director. Approvals in salary are approved through voting of the Board.”

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
% JUSTIN MARTIN
Phone
5402315991
Address
115 KENT ST VIRGINIA TECH CAMPUS, BLACKSBURG, VA 24061-0407

Signing Officer

Name
Donald J Williams
Title
Executive Director
Phone
5402315991
Signed
2018-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald J Williams
Formed
1968
Legal Domicile
Va
Voting Board Members
12
Independent Board Members
2
Employees
961
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, 2018 and 2017 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 2014 through 2017 tax years.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY-TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt06292376
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16011
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt189839
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0190890
IRS990/PayrollTaxesGrp/TotalAmt0247592
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt096903
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0114200
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0387718
IRS990/PrincipalOfficerNm0DONALD J WILLIAMS
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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/RevenueAmt42654
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IRS990/RelatedEntityInd0true

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,762,282
Liabilities
$4,585,694
Net assets
$4,176,588
Revenue
$7,652,318
Expenses
$7,625,449
Net income
$26,869
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
2018Detailed filing. Detailed filing data is available for this year.$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