Virginia Foundation For Independent Colleges

Organization Overview

Virginia Foundation For Independent Colleges is located in Richmond, VA. The organization was established in 1953. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Virginia Foundation For Independent Colleges employed 5 individuals. This organization is the central organization for a national or regional group of organizations. Virginia Foundation For Independent Colleges 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, Virginia Foundation For Independent Colleges generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $3.5m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Virginia Foundation For Independent Colleges has awarded 137 individual grants totaling $18,078,216. 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

ADVANCE THE DISTINCTIVE VALUES AND STRENGTHS OF OUR SIXTEEN SMALLER ENROLLMENT, UNDERGRADUATE, RESIDENTIAL VIRGINIA MEMBER COLLEGES.

Describe the Organization's Program Activity:

THE FOUNDATION PROVIDES ANNUAL UNRESTRICTED AND RESTRICTED CONTRIBUTIONS TO SUPPORT CRUCIAL NEEDS AT ITS SIXTEEN MEMBER INSTITUTIONS, INCLUDING FUNDING FOR CAMPUS OPERATIONS, ACADEMIC PROGRAM DEVELOPMENT, AND FACULTY DEVELOPMENT.


OTHER PROGRAMS INCLUDE SUPPORT FOR THE NEW HORIZONS PROGRAM, INTERNSHIP PROGRAMS, ETHICS BOWL, UNDERGRADUATE TEACHING AND THE SUMMER UNDERGRADUATE PROGRAM FOR RESEARCH IN THE SCIENCES.


THE WOMEN'S LEADERSHIP DEVELOPMENT SUMMIT IS DESIGNED TO EMPOWER YOUNG WOMEN WHO ARE ATTENDING A VFIC MEMBER COLLEGE OR UNIVERSITY. SELECTED STUDENTS JOINED FELLOW VFIC STUDENTS FROM ACROSS THE COMMONWEALTH FOR A THREE-DAY SUMMIT TO HEAR FROM DYNAMIC AND INSPIRATIONAL CORPORATE AND CIVIC LEADERS ABOUT THE SKILLS NEEDED TO ASSUME POSITIONS OF AUTHORITY IN PROFESSIONAL AND PERSONAL SETTINGS. THE STUDENTS EXPLORED THEIR OWN PERSONAL PURSUITS IN THE AREAS OF LEADERSHIP, SKILLS DEVELOPMENT, AND IDENTIFYING AND FURTHER STRENGTHENING THE AREAS NEEDED TO RECOGNIZE THEIR FULL POTENTIAL.


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Board, Officers & Key Employees

Name (title)Compensation
A Marshall Acuff Jr
Trustee
$0
Nancy Howell Agee
Chair
$0
George F Albright Jr
Trustee
$0
John C Asbury
Trustee
$0
Frank Batten Jr
Trustee
$0
George Y Birdsong
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$2,318,889
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,318,889
Total Program Service Revenue$0
Investment income $2,429
Tax Exempt Bond Proceeds $0
Royalties $0
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 $2,321,318

Grants Awarded

Over the last fiscal year, Virginia Foundation For Independent Colleges has awarded $2,074,295 in support to 16 organizations.

Grant RecipientAmount

HOLLINS UNIVERSITY

PURPOSE: DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS

$124,778

MARY BALDWIN UNIVERSITY

PURPOSE: DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS

$121,933

BRIDGEWATER COLLEGE

PURPOSE: DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS

$142,813

EMORY & HENRY COLLEGE

PURPOSE: DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS

$133,546

HAMPDEN-SYDNEY COLLEGE

PURPOSE: DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS

$121,968

UNIVERSITY OF LYNCHBURG

PURPOSE: DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS

$134,639
View Grant Profile

Peer Organizations

Organization NameAssets
Patrick Henry College
Purcellville, VA
$18,965,180
Capitol Technology University
Laurel, MD
$18,959,272
Bennett College
Greensboro, NC
$19,731,439
Welch College
Gallatin, TN
$7,976,509
Fairfax University Of America
Fairfax, VA
$16,904,981
Council For Christian Colleges And Universities
Washington, DC
$9,063,115
University Of Mary Washington Foundation
Fredericksburg, VA
$10,995,561
Appalachian Bible College Inc
Mount Hope, WV
$8,178,931
American Baptist Theological Seminary
Nashville, TN
$6,129,117
Mid-Atlantic Christian University Inc
Elizabeth City, NC
$6,434,173
Clear Creek Baptist Bible College
Pineville, KY
$5,062,281
Glenville State University Foundation
Glenville, WV
$5,547,547
Federation Of Tax Administrators
Washington, DC
$4,368,489
Virginia Foundation For Independent Colleges
Richmond, VA
$2,321,318
Central Kentucky Community Foundation Inc
Elizabethtown, KY
$4,807,716
Ambassador Baptist College
Lattimore, NC
$2,560,522
Intercollegiate Center For Classical Studies
Brentwood, TN
$3,335,237
Southeastern Free Will Baptist Bible College Inc
Wendell, NC
$2,357,118
William Peace University Foundation
Raleigh, NC
$1,576,772
Gaston College Foundation Inc
Dallas, NC
$1,301,240
Mid-South Christian College
Memphis, TN
$1,783,471
Manna University
Fayetteville, NC
$1,375,327
Richard Bland College Foundation Inc
Petersburg, VA
$1,493,611
Carolina Christian College Inc
Winstonsalem, NC
$1,472,178
Carolina College Of Biblical Studies
Fayetteville, NC
$1,405,593

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