Old Dominion Athletic Foundation
- Assets
- $70.5m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 08/1964
- Data as of
- 12/2023
- EIN
- 54-6051933
Organization Overview
Old Dominion Athletic Foundation is located in Norfolk, VA. The organization was established in 1964. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Dominion Athletic Foundation 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 12/2023, Old Dominion Athletic Foundation generated $8.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $12.4m during the year ending 12/2023. While expenses have increased by 8.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O SUPPLEMENTAL INFORMATION FOR ORGANIZATION'S MISSION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT TO THE OLD DOMINION UNIVERSITY ATHLETIC PROGRAMS, TO INCLUDE SCHOLARSHIPS FOR STUDENT ATHLETES, AND PROVIDE PROGRAM SUPPORT FOR THE NCAA DIVISION I SPORTS PROGRAMS IN WHICH THE UNIVERSITY COMPETES. PROGRAM SUPPORT INCLUDES FUNDING FOR TRAVEL AND TRANSPORTATION, SUPPLIES, EQUIPMENT AND MAINTENANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Scott Hardison Chair | OfficerTrustee | 0.3 | $0 |
Kelly Till First Vice Chair | OfficerTrustee | 0.3 | $0 |
Russell S Turner Second Vice Trustee | OfficerTrustee | 0.1 | $0 |
Thomas F Cherry Secretary/treasurer | OfficerTrustee | 0.3 | $0 |
Monique Adams Trustee | Trustee | 0.1 | $0 |
Carlton Bennett Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Air Planning Llc Air Charters | 12/30/23 | $318,182 |
Aramark Services Inc Food & Banquet Svcs | 12/30/23 | $283,765 |
Taymar Sales U Llc Ticket Sale Mgt Svcs | 12/30/23 | $108,836 |
Powwow Llc Dba Pass Charters Air Charters | 12/30/23 | $105,821 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $136,316 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,851,248 |
| Noncash contributions included in lines 1a–1f | $521,070 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,987,564 |
| Total Program Service Revenue | $0 |
| Investment income | $416,914 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $76,258 |
| Net Income from Fundraising Events | -$32,148 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,548,905 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,239,505 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $74,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $455 |
| Fees for services: Other | $117,535 |
| Advertising and promotion | $0 |
| Office expenses | $5,797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $464,027 |
| 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 | $40,188 |
| Insurance | $10,097 |
| All other expenses | $139,187 |
| Total functional expenses | $12,398,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $722,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,003,709 |
| Accounts receivable, net | $625 |
| 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 | $313,897 |
| Investments—publicly traded securities | $13,632,688 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,849,850 |
| Total assets | $70,523,628 |
| Accounts payable and accrued expenses | $68,017 |
| 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 | $136,372 |
| Total liabilities | $204,389 |
| Net assets without donor restrictions | $18,367,883 |
| Net assets with donor restrictions | $51,951,356 |
| 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 | $70,523,628 |