Virginia Tech Foundation Inc

Organization Overview

Virginia Tech Foundation Inc is located in Blacksburg, VA. The organization was established in 1949. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Virginia Tech Foundation Inc employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Tech Foundation Inc 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 06/2021, Virginia Tech Foundation Inc generated $338.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $114.6m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION RECEIVES, MANAGES, AND DISBURSES PRIVATE GIFTS IN SUPPORT OF PROGRAMS AT VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).

Describe the Organization's Program Activity:

Part 3 - Line 4a

VIRGINIA TECH FOUNDATION SUPPORTS THE PROGRAMS OF VIRGINIA TECH. THE FOUNDATION DOES THIS BY GENERATING FUNDING FROM PRIVATE SOURCES AND AGGRESSIVELY MANAGING ITS ASSETS TO SUPPLEMENT STATE APPROPRIATIONS, TUITION, AND OTHER SOURCES OF FUNDS. THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO STUDENTS, ADDITIONAL OPERATING SUPPORT TO COLLEGES AND DEPARTMENTS, ASSISTS IN THE FUNDING OF MAJOR BUILDING PROJECTS, PROVIDES SEED CAPITAL FOR NEW UNIVERSITY INITIATIVES, AND INITIATES MAJOR PROJECTS AS REQUESTED BY THE UNIVERSITY. IN ADDITION, THE FOUNDATION MANAGES VIRGINIA TECH'S ENDOWMENT. THE FOUNDATION DEPLOYS CAPITAL IN WAYS THAT SERVE THE INTERESTS NOT ONLY OF THE UNIVERSITY, BUT ALSO OF ITS REGIONS.


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$176,951,316
Investment income $19,082,673
Tax Exempt Bond Proceeds $61,835
Royalties -$25,649
Net Rental Income $7,081,686
Net Gain/Loss on Asset Sales $110,435,639
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $43,643
Miscellaneous Revenue$0
Total Revenue $338,678,106

Peer Organizations

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Lexington, KY
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University Of Kentucky Research Foundation
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The University Of Tennessee Foundat Ion Inc
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$225,358,367
Virginia Tech Foundation Inc
Blacksburg, VA
$338,678,106
West Virginia Univ Foundation Inc
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$183,335,188
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Unc Health Foundation Inc
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Old Dominion University Research Foundation
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Medical College Of Virginia Foundation
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William & Mary Foundation
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University Of Virginia Foundation
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University Of Maryland Foundation Inc
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North Carolina State University Foundation Inc
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Communities In Schools Inc
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University Of Maryland Baltimore Foundation Inc
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University Of Memphis Foundation
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Virginia Commonwealth University College Of Engineering Foundation
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National League Of Cities Institute Inc
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$27,174,469
University Of Virginia Investment Management Company
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$961,602,712
University Of Virginia Law School Foundation
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$37,875,854
Appalachian State University Foundation Inc
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$32,992,560

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