V M I Alumni Association
- Assets
- $581.1k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Lexington, VA
- Founding
- 06/1926
- Data as of
- 06/2023
- EIN
- 54-0515753
Organization Overview
V M I Alumni Association is located in Lexington, VA. The organization was established in 1926. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 06/2023, V M I Alumni Association employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. V M I Alumni Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, V M I Alumni Association generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, V M I Alumni Association has awarded 24 individual grants totaling $899,737. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE VIRGINIA MILITARY INSTITUTE (VMI), A STATE SCHOOL, BY DEVELOPING AND SUPPORTING ALUMNI RELATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARATION OF ALUMNI NEWSLETTERS AND PUBLICATIONS TO RECRUIT NEW MEMBERS AND BUILD ALUMNI UNITY AND PRIDE, ALUMNI RECRUITING AND ALUMNI CONVENTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony U Moore President | Trustee | 2 | $0 |
Matthew Hemenez Vice President | Trustee | 2 | $0 |
Samuel N Stocks Immediate Past President | Trustee | 2 | $0 |
Richard C Coupland III Board Member | Trustee | 2 | $0 |
David P Loduca Board Member | Trustee | 2 | $0 |
Dennis V Maguire Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,000,024 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000,024 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,298 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,001,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,267 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $106,710 |
| Compensation of current officers, directors, key employees. | $53,355 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $301,140 |
| Pension plan accruals and contributions | $16,747 |
| Other employee benefits | $62,965 |
| Payroll taxes | $30,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,415 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,972 |
| Advertising and promotion | $42,525 |
| Office expenses | $40,416 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $20,584 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,355 |
| Insurance | $0 |
| All other expenses | $415 |
| Total functional expenses | $1,000,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,980 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,684 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $524,831 |
| Total assets | $581,109 |
| Accounts payable and accrued expenses | $414,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $414,000 |
| Net assets without donor restrictions | $167,109 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $581,109 |
Grants Awarded
Over the last fiscal year, V M I Alumni Association has awarded $58,267 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA MILITARY INSTITUTE PURPOSE: NEW CADET RECRUITING | $34,782 |
VIRGINIA MILITARY INSTITUTE PURPOSE: MOODY HALL OPERATIONS | $6,915 |
VIRGINIA MILITARY INSTITUTE PURPOSE: PLACEMENT | $16,570 |