Medical College Of Virginia Foundation
- Assets
- $645.9m
- Revenue
- $54.3m
- Investments
- $608.9m
- Employees
- 18
- Location
- Richmond, VA
- Founding
- 10/2007
- Data as of
- 06/2020
- EIN
- 54-6053660
Organization Overview
Medical College Of Virginia Foundation is located in Richmond, VA. The organization was established in 2007. 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 06/2021, Medical College Of Virginia Foundation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical College Of Virginia 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 06/2020, Medical College Of Virginia Foundation generated $54.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $33.6m during the year ending 06/2020. While expenses have increased by 0.3% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MEDICAL COLLEGE OF VIRGINIA FOUNDATION IS TO INSPIRE AND STEWARD PHILANTHROPY THROUGHOUT THE MCV CAMPUS OF VIRGINIA COMMONWEALTH UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION, RESEARCH AND GENERAL EXPENSES FOR MCV CAMPUS OF VCU.
SCHOLARSHIPS AND AWARDS
TO AID, STRENGTHEN AND EXTEND WORK OF MCV MEDICAL CAMPUS OF VA COMMONWEALTH UNIVERSITY (FACULTY SALARIES PAID TO VCU).
EQUIPMENT, INDIGENT PATIENT CARE AND OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Ann Bollmeier President | Officer | 40 | $346,645 |
Brian Thomas VP & Chief Development Officer | Officer | 40 | $275,476 |
David Silver CFO | Officer | 40 | $242,505 |
Alexandra Henley Director Of Marketing | Officer | 40 | $184,033 |
Julie Woodward Controller | Officer | 40 | $140,862 |
Joyce Bush Accountant | Officer | 40 | $102,860 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lowe Brockenbrough Co Inc Investment Mgmt | 6/29/21 | $750,209 |
Worth Higgins Assoc Inc Printing | 6/29/21 | $251,988 |
Neathawk Dubuque Inc Marketing | 6/29/21 | $197,070 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,288,923 |
| Investment income | $4,497,081 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,457,295 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,318,573 |
| Statement of Expenses | |
|---|---|
| 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. | $919,172 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,137,312 |
| Pension plan accruals and contributions | $194,631 |
| Other employee benefits | $382,421 |
| Payroll taxes | $114,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,129 |
| Fees for services: Accounting | $41,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,157,934 |
| Fees for services: Other | $38,274 |
| Advertising and promotion | $392,260 |
| Office expenses | $187,825 |
| Information technology | $90,275 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $204,318 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $246,330 |
| Insurance | $32,025 |
| All other expenses | $0 |
| Total functional expenses | $33,636,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,416,077 |
| Savings and temporary cash investments | $24,829,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $162,254 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79,554 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $608,903,793 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $539,057 |
| Total assets | $645,911,510 |
| Accounts payable and accrued expenses | $794,651 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,193,895 |
| 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 | $6,277,310 |
| Total liabilities | $10,265,856 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $635,645,654 |
Grants Recieved
Over the last fiscal year, we have identified 48 grants that Medical College Of Virginia Foundation has recieved totaling $3,732,119.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $1,189,952 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For nursing and nurse practitioner scholarships. | $655,000 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $213,000 |
Samueli Foundation Corona Del Mar, CA PURPOSE: GENERAL SUPPORT | $200,000 |
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: VCU MASSEY CANCER CENTER MOBILE HEALTH VAN | $200,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $144,029 |
Endowment Analysis
| Beg. Balance | $386,327,000 |
| Earnings | $162,104,000 |
| Net Contributions | $32,326,000 |
| Other Expense | $19,666,000 |
| Ending Balance | $561,091,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Mason University Foundation Inc Fairfax, VA | $459,289,058 | $113,505,085 |
West Virginia Univ Foundation Inc Morgantown, WV | $1,952,164,791 | $155,430,683 |
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |