Virginia Tech Services Inc is located in Blacksburg, VA. The organization was established in 1967. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2022, Virginia Tech Services Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Tech Services 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 06/2022, Virginia Tech Services Inc generated $3.9m 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 (9.5%) each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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 INSTITUTE & STATE UNIVERSITY THROUGH THE MANAGEMENT OF OUTSOURCED OPERATIONS AND FACILITIES MAINTENANCE.
Describe the Organization's Program Activity:
OPERATION OF VENDING SERVICES AND MANAGEMENT OF OUTSOURCED COMMISSIONS CONTRACTS FROM RETAIL OPERATIONS INCLUDING STUDENT BOOKSTORES AND A COFFEE SHOP.
CONTRIBUTION TO VIRGINIA TECH FOUNDATION, INC FOR USE BY THE UNIVERSITY PRESIDENT AND BOARD OF VISITORS FOR THE BENEFIT OF THE STUDENTS AND FACULTY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mr David P Wilson Executive Director | Officer | 40 | $136,633 |
Dr Ann-Marie Knoblauch Chair | OfficerTrustee | 3 | $0 |
Dr Ronald D Fricker Jr Vice Chair | OfficerTrustee | 3 | $0 |
Justice Elizabeth A Mcclanahan Secretary-Treasurer | OfficerTrustee | 3 | $0 |
Dr Timothy Baird Director | Trustee | 1 | $0 |
Dr Cyril R Clarke Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $139,000 |
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 | $139,000 |
Total Program Service Revenue | $2,203,414 |
Investment income | $280 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $9,200 |
Net Gain/Loss on Asset Sales | -$30,099 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,908,616 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,000,000 |
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. | $148,968 |
Compensation of current officers, directors, key employees. | $148,968 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $217,901 |
Pension plan accruals and contributions | $45,611 |
Other employee benefits | $86,430 |
Payroll taxes | $32,338 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $72,326 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $2,353 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $844,722 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $6,216 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $176,258 |
Insurance | $31,399 |
All other expenses | $3,648 |
Total functional expenses | $3,036,778 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,074,110 |
Savings and temporary cash investments | $5,148,600 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $662,145 |
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 | $54,419 |
Net Land, buildings, and equipment | $737,370 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $8,676,644 |
Accounts payable and accrued expenses | $551,761 |
Grants payable | $1,000,000 |
Deferred revenue | $1,203,333 |
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 | $34,338 |
Total liabilities | $2,789,432 |
Net assets without donor restrictions | $5,887,212 |
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 | $8,676,644 |
Over the last fiscal year, we have identified 2 grants that Virginia Tech Services Inc has recieved totaling $199.
Awarding Organization | Amount |
---|---|
Synchrony Foundation Stamford, CT PURPOSE: EMPLOYER MATCHING GIFT PROGRAM | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $99 |
Organization Name | Assets | Revenue |
---|---|---|
Results For America Washington, DC | $34,611,584 | $37,342,488 |
Israel On Campus Coalition Washington, DC | $6,950,162 | $10,725,464 |
Tennessee State Collaborative On Reforming Education Nashville, TN | $23,375,202 | $18,088,323 |
Ulh Inc Louisville, KY | $43,242,391 | $8,714,119 |
Cameron Foundation Petersburg, VA | $170,387,931 | $14,350,568 |
Green River Regional Education Cooperative Inc Bowling Green, KY | $8,161,400 | $7,463,495 |
Frameworks Institute Washington, DC | $8,374,816 | $6,057,104 |
News Literacy Project Inc Bethesda, MD | $6,963,162 | $5,070,663 |
Seed Foundation Inc Washington, DC | $10,420,742 | $4,996,042 |
College Summit Inc Washington, DC | $4,976,677 | $6,077,996 |
Maryland Business Roundtable For Education Inc Baltimore, MD | $721,059 | $3,522,017 |
Virginia Tech Services Inc Blacksburg, VA | $8,676,644 | $3,908,616 |