Civic Intelligence

Old Dominion Athletic Foundation

EIN 54-6051933 • 501(c)3 • Norfolk, VA

View Organization Page

Profile

The mission of old dominion athletic foundation is: a. To financially aid and support the athletic programs of old dominion university. B. To strengthen and support the educational purposes of old dominion university's athletic programs in accordance with the rules and regulations of the ncaa and the appropriate affiliated conference(s) and the university.

4417 Monarch Way 4th FloorNorfolk, VA 23529

www.olddominionaf.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

12th percentile

0.01x

Higher debt load relative to assets than 12% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

23rd percentile

0.12x

Higher debt load relative to revenue than 23% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

4th percentile

-50%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

33rd percentile

1.8%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-12%

Faster revenue growth than 15% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$71,770,497

Up $1,246,869 (+1.8%) from 2023

Liabilities

Up

$893,806

Up $689,417 (+337%) from 2023

Net Assets

Up

$70,876,691

Up $557,452 (+0.8%) from 2023

Operations
Liabilities / Revenue23rd percentileNet Margin4th percentile

Revenue

Down

$7,511,314

Down $1,037,591 (-12%) from 2023

Expenses

Down

$11,304,314

Down $1,094,307 (-8.8%) from 2023

Net Income

Up

-$3,793,000

Up $56,716 (+1.5%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2011: $30,175,877Liabilities 2011: $1,907,237Net Assets 2011: $28,268,6402011Assets 2012: $35,220,956Liabilities 2012: $1,344,638Net Assets 2012: $33,876,3182012Assets 2013: $40,842,425Liabilities 2013: $1,589,103Net Assets 2013: $39,253,3222013Assets 2014: $42,950,142Liabilities 2014: $1,480,302Net Assets 2014: $41,469,8402014Assets 2015: $44,203,740Liabilities 2015: $1,445,327Net Assets 2015: $42,758,4132015Assets 2016: $39,393,086Liabilities 2016: $1,570,769Net Assets 2016: $37,822,3172016Assets 2017: $45,306,664Liabilities 2017: $553,357Net Assets 2017: $44,753,3072017Assets 2018: $51,401,801Liabilities 2018: $789,700Net Assets 2018: $50,612,1012018Assets 2019: $60,312,374Liabilities 2019: $242,897Net Assets 2019: $60,069,4772019Assets 2020: $67,759,888Liabilities 2020: $240,049Net Assets 2020: $67,519,8392020Assets 2021: $75,318,666Liabilities 2021: $734,113Net Assets 2021: $74,584,5532021Assets 2022: $70,701,057Liabilities 2022: $380,903Net Assets 2022: $70,320,1542022Assets 2023: $70,523,628Liabilities 2023: $204,389Net Assets 2023: $70,319,2392023Assets 2024: $71,770,497Liabilities 2024: $893,806Net Assets 2024: $70,876,6912024

Highlighted filing

2024

Assets$71,770,497
Liabilities$893,806
Net Assets$70,876,691
Open 2024 Filing

Operations Trend

Revenue Growth15th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MExpenses 2011: $3,534,1132011Expenses 2012: $3,469,4162012Revenue 2013: $7,507,423Expenses 2013: $3,758,825Net Income 2013: $3,748,5982013Revenue 2014: $7,936,252Expenses 2014: $5,433,869Net Income 2014: $2,502,3832014Revenue 2015: $7,840,478Expenses 2015: $6,179,048Net Income 2015: $1,661,4302015Revenue 2016: $5,391,096Expenses 2016: $11,238,010Net Income 2016: -$5,846,9142016Revenue 2017: $11,906,440Expenses 2017: $7,930,953Net Income 2017: $3,975,4872017Revenue 2018: $13,840,532Expenses 2018: $7,370,082Net Income 2018: $6,470,4502018Revenue 2019: $11,408,952Expenses 2019: $7,570,014Net Income 2019: $3,838,9382019Revenue 2020: $11,016,579Expenses 2020: $8,073,869Net Income 2020: $2,942,7102020Revenue 2021: $6,634,127Expenses 2021: $8,282,545Net Income 2021: -$1,648,4182021Revenue 2022: $14,428,347Expenses 2022: $14,083,299Net Income 2022: $345,0482022Revenue 2023: $8,548,905Expenses 2023: $12,398,621Net Income 2023: -$3,849,7162023Revenue 2024: $7,511,314Expenses 2024: $11,304,314Net Income 2024: -$3,793,0002024

Highlighted filing

2024

Revenue$7,511,314
Expenses$11,304,314
Net Income-$3,793,000
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$71,770,497
Liabilities
$893,806
Net assets
$70,876,691
Revenue
$7,511,314
Expenses
$11,304,314
Net income
-$3,793,000
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$71.8$0.89$70.9$7.51$11.3$3.79
2023Detailed filing. Detailed filing data is available for this year.$70.5$0.20$70.3$8.55$12.4$3.85
2022Detailed filing. Detailed filing data is available for this year.$70.7$0.38$70.3$14.4$14.1$0.35
2021Detailed filing. Detailed filing data is available for this year.$75.3$0.73$74.6$6.63$8.28$1.65
2020Detailed filing. Detailed filing data is available for this year.$67.8$0.24$67.5$11.0$8.07$2.94
2019Detailed filing. Detailed filing data is available for this year.$60.3$0.24$60.1$11.4$7.57$3.84
2018Detailed filing. Detailed filing data is available for this year.$51.4$0.79$50.6$13.8$7.37$6.47
2017Detailed filing. Detailed filing data is available for this year.$45.3$0.55$44.8$11.9$7.93$3.98
2016Detailed filing. Detailed filing data is available for this year.$39.4$1.57$37.8$5.39$11.2$5.85
2015Detailed filing. Detailed filing data is available for this year.$44.2$1.45$42.8$7.84$6.18$1.66
2014Detailed filing. Detailed filing data is available for this year.$43.0$1.48$41.5$7.94$5.43$2.50
2013Detailed filing. Detailed filing data is available for this year.$40.8$1.59$39.3$7.51$3.76$3.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.2$1.34$33.9$3.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.2$1.91$28.3$3.53
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.1
Gross Receipts
$13,230,281
Mission and Program Overview

Mission

Athletic foundation was established to receive, maintain and administer assets exclusively for educational purposes and to use and apply the whole or any part of the income and principal therefrom for such purposes either directly or by contributions to other organizations.

See schedule o supplemental information for organization's mission

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$13,632,688$15,229,086▲ $1,596,398
Pledges and Grants Receivable$11,003,709$8,136,838▼ $2,866,871
Cash and Non-Interest-Bearing Accounts$722,859$919,728▲ $196,869
Land, Buildings, and Equipment, Net$313,897$257,258▼ $56,639
Accounts Receivable$625$30,556▲ $29,931
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$70,523,628$71,770,497▲ $1,246,869
Other Assets Total$44,849,850$47,197,031▲ $2,347,181
Liabilities
Accounts Payable and Accrued Expenses$68,017$750,261▲ $682,244
Other Liabilities$136,372$143,545▲ $7,173
Total Liabilities$204,389$893,806▲ $689,417
Net Assets / Fund Balance
Net Assets With Donor Restrictions$51,951,356$52,490,192▲ $538,836
Net Assets Without Donor Restrictions$18,367,883$18,386,499▲ $18,616
Total Net Assets Fund Balance$70,319,239$70,876,691▲ $557,452
Total Liabilities and Net Assets / Fund Balance$70,523,628$71,770,497▲ $1,246,869

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$227,388$284,263$511,651
Other Land Buildings$29,870$26,725$56,595
Other Assets Org$96,493--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$39,539,530$518,090▲ $3,838,468$1,570,946$42,325,142
2023$37,008,825$837,765▲ $3,243,482$1,550,542$39,539,530
2022$39,043,190$2,812,698▼ $3,468,291$1,378,772$37,008,825
2021$31,359,824$2,631,139▲ $6,407,297$1,355,070$39,043,190
2020$26,674,095$2,452,808▲ $3,390,250$514,070$31,359,824
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Kelly TillChair
Russell S TurnerFirst Vice Chair
Jeremy McLendonSecond Vice Chair
Jena VirgaExecutive Director
Alex MitchumTrustee
Amy FrostickTrustee
Audra BullockTrustee
Barry M KornblauTrustee
Brian K HollandTrustee
Carlton BennettTrustee
Conrad ShumadineTrustee
Daniel J ClarksonTrustee
David StockmeierTrustee
E G Middleton IIITrustee
Edward J ReedTrustee
Georgina MillerTrustee
Gerald P BrunickTrustee
H Scott HardisonTrustee
James S SomersTrustee
Jeffrey D KornblauTrustee
Jeffrey S ChernitzerTrustee
Jerry BowmanTrustee
Kathryn M Van BurenTrustee
Michael FowlerTrustee
Monique AdamsTrustee
Randall A CrutchfieldTrustee
Ray WittersheimTrustee
Richard A McGrathTrustee
Richard B ThurmondTrustee
Richard F Kiefner JrTrustee
Robert G KrebsTrustee
Robin D RayTrustee
Ronald C RipleyTrustee
Russell W TurnerTrustee
Thomas M JohnstonTrustee
Trey DudleyTrustee
William BrothersTrustee
Cindy R GallAssistant Secretary
Mike LaRockAssistant Treasurer
Alonzo BrandonEx-Officio
Brian O HemphillEx-Officio
Camden W SeligEx-Officio
Janet CarterEx-Officio (AS OF 7/24)
Thomas F CherrySecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Air Planning LLCAir Charters for Football Team12 Heritage Way, North Reading, MA 01864$623,934
Aramark Services IncFood and Banquet Services4320 Hampton Blvd, Norfolk, VA 23529$322,774
Endeavor Ole Parent LLC DBA Anthony Travel LLCTravelPO Box 1086, Notre Dame, IN 46556$151,025
Revenue and Support

Revenue Composition

Contributions and Grants
$6,905,824
Program Service Revenue
$0
Investment Income
$626,487
Other Revenue
$-20,997
All Other Contributions
$6,782,987
Change in Net Assets
$-3,793,000

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded34$265,294Selling cost
Other Non Cash Contri Table4$2,118Market value
Boats and Planes1$1,500Market value
Total Noncash Contributions39$268,912-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,552,966
Revenue Not Reported on Financial Statements
$-41,652
Revenue Not Reported on Form 990
$4,296,174
Other Revenue Adjustments
$-42,222
Total Revenue per Audited Statements
$11,849,140
Total Revenue per Form 990
$7,511,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$8,664,616
Other Expenses$2,639,698
Total Fundraising Expense$398,538
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$8,664,616--$8,664,616
Travel$796,112-$69,134$865,246
All Other Expenses$33,126$86,171$111,518$230,815
Other Expenses$0$137,579$0$137,579
Fees for Services Accounting-$80,700-$80,700
Fees for Services Other$55,698$446$10,000$66,144
Depreciation Depletion$50,867--$50,867
Insurance$9,469--$9,469
Office Expenses-$2,169$3,026$5,195
Fees for Service Investment Mgmnt Fees-$570-$570
Total Functional Expenses$10,125,026$780,750$398,538$11,304,314

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$11,304,314
Total Expenses per Audited Statements$11,291,688
Expenses per Audited Statements$11,249,466
Expenses Not Reported on Financial Statements$54,848
Other Expense Adjustments$54,278
Expenses Not Reported on Form 990$42,222
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Old Dominion UniversityNorfolk, VAGovSee Part Iv$8,664,616
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$181,442
Fundraising Gross Income$156,445
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Women's Basketball$34,635$34,635$3,266$31,369
Women's Golf$27,900$27,900$25,895$2,005
Total Events$279,282$156,445$181,442$-24,997
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
Federal Income Taxes$143,545
Priority Seating Deferred Revenue-
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 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

“Barry M. Kornblau - Family relationship, Jeffrey D. Kornblau - Family relationship”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The 990 tax forms are reviewed by the finance and audit and executive committees and provided to voting members of the board prior to filing.”

Form 990, Part VI, Line 12C Conflict of interest policy

“Once the annual interest disclosure forms are received, management reviews them to ensure that there are no issues in the event of a conflict of interest, the affected trustee will abstain from participating in the discussion of the matter and from voting on it.”

Form 990, Part VI, Line 19 Required documents available to the public

“The foundation's finance and audit committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from prior years.”

Filing and Contact Details

Filer

Filer Name
Old Dominion Athletic Foundation
EIN
54-6051933
Phone
7576834524
Address
4417 MONARCH WAY 4TH FLOOR, NORFOLK, VA 23529

Signing Officer

Name
Jena Virga
Title
Executive Director
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Formed
1964
Legal Domicile
Va
Voting Board Members
38
Independent Board Members
38
Employees
0
Volunteers
44

Preparer

Firm
Bdo USA
Address
300 E MAIN STREET STE 1300, NORFOLK, VA 23510
Preparer
Todd Teresco
Phone
7576407190
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 BRIEF MISSION

“The mission of old dominion athletic foundation is: a. To financially aid and support the athletic programs of old dominion university. B. To strengthen and support the educational purposes of old dominion university's athletic programs in accordance with the rules and regulations of the ncaa and the appropriate affiliated conference(s) and the university.”

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

“PART XI LINE 9 INCLUDES THE INCREASE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION . - 4346562; Total - 4346562;”

Form 990, Part XII, Line 2C Change of oversight process or selection process

“The foundation's finance and audit committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from prior years.”

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

“The foundation's endowment consists of 121 individual funds established for a variety of purposes. The endowment includes both donor-restricted endowment funds and funds designated by the board of trustees to functionas endowments. Net assets associated with endowment funds, including funds designated by the board of trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.”

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“The foundation is an organization described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes.exempt organizations are subject to tax on income from regularly conducted trade or business activities that are not substantially related to the organization's exempt purpose. Tax years before 2018 are no longer subject to examinations. Management continually evaluates tax positions reflected in the foundation's tax filings and does not believe that any material uncertain tax positions exist”

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

“Increase in the value of investments held by old dominion university educational foundation - 4346562 bad debt expenses - -54278”

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

“Gain on sale of fixed assets - 3728 rent expenses - -45950 -”

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

“Rent expenses - 45950 gain on sale of fixed assets - -3728”

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

“Bad debt expenses - 54278”

Raw XML AppendixShowing 400 of 917 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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