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VIRGINIA TECH FOUNDATION, INC. (VTF) IS A NONSTOCK CORPORATION ESTABLISHED IN 1948 FOR THE SOLE PURPOSE OF MANAGING VIRGINIA TECH'S ENDOWMENT AND REAL ESTATE PORTFOLIO, NOW VALUED AT $2.8 BILLION. VTF EXISTS AND OPERATES AS A SEPARATE, INDEPENDENT ENTITY WITH ITS OFFICERS AND GOVERNING BOARD-MANAGING, INVESTING, AND DISTRIBUTING PRIVATE RESOURCES TO ADVANCE VIRGINIA TECH'S MISSION AND ITS STRATEGIC PROPRIETIES.
Source: IRS Form 990 (Tax Year 2023)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2022
Total Revenue
▼$222.3M
Program Spending
79%
of total expenses go to program services
Total Contributions
$134.7M
Total Expenses
▼$169.5M
Total Assets
$2.8B
Total Liabilities
▼$1B
Net Assets
$1.8B
Officer Compensation
→$2.2M
Other Salaries
$3.3M
Investment Income
$40.1M
Fundraising
▼N/A
Tax Year 2022 · Source: IRS Form 990, Schedule I (Grants and Other Assistance)
Total grants awarded: $39.5M
| Recipient | Location | Amount | Type | Purpose |
|---|---|---|---|---|
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY54-6001805 | BLACKSBURG, VA | $39.5M | Cash | SCHOLARSHIPS |
| Total | $39.5M | |||
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY
BLACKSBURG, VA
$39.5M
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$10.7M
Awards Found
7
| Awarding Agency | Description | Amount | Fiscal Year | Period | Link |
|---|---|---|---|---|---|
| Department of Commerce | RECOVERY ACT - ALLEGHENY FIBER: EXTENDING VIRGINIA'S OPEN ACCESS FIBER BACKBONE TO THE RIDGE AND VALLEY | $5.5M | FY2010 | Jan 2010 – Jun 2013 | Open → |
| Department of Commerce | VSAREC | $3M | — | — – — | Open → |
| Department of Commerce | RESEARCH PARK PHASE 2 | $2M | FY2009 | Aug 2009 – Feb 2011 | Open → |
| Department of Commerce | PTFP-VIRGINIA TECH FOUNDATION, INC. | $117K | FY2010 | Oct 2009 – Mar 2011 | Open → |
| Department of Commerce | PTFP- VIRGINIA TECH FOUNDATION INC. | $39.7K | FY2011 | Oct 2010 – Sep 2011 | Open → |
| Department of Commerce | PTFP- VIRGINIA TECH FOUNDATION | $25.9K | FY2009 | Oct 2008 – Mar 2010 | Open → |
| Department of Commerce | PTFP - VIRGINIA TECH FOUNDATION | $13.9K | FY2006 | Oct 2005 – Dec 2009 | Open → |
Department of Commerce
$5.5M
RECOVERY ACT - ALLEGHENY FIBER: EXTENDING VIRGINIA'S OPEN ACCESS FIBER BACKBONE TO THE RIDGE AND VALLEY
Source: Federal Audit Clearinghouse (fac.gov)
Years audited
2
Clean years
2
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditurecombined across all audits filed that year | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2022 | Clean | Unmodified (Clean) | $1.9M | No | 2023-01-02 |
| 2021 | Clean | Unmodified (Clean) | $769.6K | No | 2021-10-06 |
Financial Report
Unmodified (Clean)
Federal Expenditure, combined across all audits filed that year
$1.9M
Financial Report
Unmodified (Clean)
Federal Expenditure, combined across all audits filed that year
$769.6K
Tax Year 2022 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023 | $222.3M | $134.7M | $169.5M | $2.8B | $1.8B |
| 2022IRS e-File | $222.3M | $134.7M | $169.5M | $2.8B | $1.8B |
| 2021 | $338.7M | $177M | $114.6M | $2.7B | $1.7B |
| 2020 | $222M | $163.5M | $139.2M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2022)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2022)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Mr Charles D Phlegar | Board Member-ex Officio | 2 | $0 | $852.2K | $119.1K | $971.3K |
| Elizabeth A Mcclanahan | Chief Executive Officer | 30 | $595K | $0 | $34.1K | $629.1K |
| Mr Chris Kiwus | Board Member-ex Officio | 2 | $0 | $428.1K | $45.2K | $473.4K |
| Ms Terri T Mitchell | Secretary | 40 | $270.1K | $0 | $57.3K | $327.4K |
| Ms Starlette B Johnson | Chair | 2 | $0 | $0 | $0 | $0 |
Mr Charles D Phlegar
Board Member-ex Officio
$971.3K
Hrs/Wk
2
Compensation
$0
Related Orgs
$852.2K
Other
$119.1K
Elizabeth A Mcclanahan
Chief Executive Officer
$629.1K
Hrs/Wk
30
Compensation
$595K
Related Orgs
$0
Other
$34.1K
Mr Chris Kiwus
Board Member-ex Officio
$473.4K
Hrs/Wk
2
Compensation
$0
Related Orgs
$428.1K
Other
$45.2K
Ms Terri T Mitchell
Secretary
$327.4K
Hrs/Wk
40
Compensation
$270.1K
Related Orgs
$0
Other
$57.3K
Ms Starlette B Johnson
Chair
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Mr Daniel Ward | Avp - Term. June 2023 | 40 | $1.2M | $0 | $61.8K | $1.3M |
| Mr John J Cusimano | Avp - Term. July 2022 | 2 | $61.2K | $285.6K | $22.6K | $369.3K |
| Ms Catherine Potter | Avp/general Counsel-term. Jan. 2023 | 40 | $234.1K |
Mr Daniel Ward
Avp - Term. June 2023
$1.3M
Hrs/Wk
40
Compensation
$1.2M
Related Orgs
$0
Other
$61.8K
Mr John J Cusimano
Avp - Term. July 2022
$369.3K
Hrs/Wk
2
Compensation
$61.2K
Related Orgs
$285.6K
Other
$22.6K
Ms Catherine Potter
Avp/general Counsel-term. Jan. 2023
$273K
Hrs/Wk
40
Compensation
$234.1K
Related Orgs
$0
Other
$38.8K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Commander Michael E Melo | Board Member | 2 | $0 | $0 | $0 | $0 |
| Dr Amy S Sebring | Board Member-ex Officio | 2 | $0 | $164.7K | $13.9K | $178.6K |
| Dr Timothy D Sands | Board Member-ex Officio | 2 | $0 | $819K | $264K | $1.1M |
| Mr Christopher J Brightman | Board Member | 2 |
Commander Michael E Melo
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Dr Amy S Sebring
Board Member-ex Officio
$178.6K
Hrs/Wk
2
Compensation
$0
Related Orgs
$164.7K
Other
$13.9K
Dr Timothy D Sands
Board Member-ex Officio
$1.1M
Hrs/Wk
2
Compensation
$0
Related Orgs
$819K
Other
$264K
| $2.3B |
| $1.4B |
| 2019 | $233.4M | $137M | $131.8M | $2.1B | $1.4B |
| 2018 | $227.2M | $130.7M | $136.6M | $1.9B | $1.3B |
| 2017 | $225.6M | $145.3M | $124.2M | $1.7B | $1.2B |
| 2016 | $156.3M | $93.5M | $144.2M | $1.5B | $1.1B |
| 2015 | $197.2M | $98.5M | $127.1M | $1.5B | $1.1B |
| 2014 | $171.9M | $81.1M | $115.9M | $1.5B | $1B |
| 2013 | $137.9M | $83.6M | $109M | $1.3B | $910.9M |
| 2012 | $113.9M | $73.8M | $99.9M | $1.2B | $828.3M |
| 2011 | $139.7M | $101.2M | $90.8M | $1.1B | $826.6M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| $0 |
| $38.8K |
| $273K |
| $0 |
| $0 |
| $0 |
| $0 |
| Mr Christopher M Quillen | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Christopher W Shean | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Donald Don B Halliwill | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Edward H Baine | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Gregory C Godsey | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Gregory C Thompson | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr J Benjamin Doughtie | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr J Ryan Lingerfelt | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr James G Petrine | Board Member-ex Officio | 2 | $0 | $0 | $0 | $0 |
| Mr James N Strawbridge | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Kevin T Crofton | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Marty Muscatello | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Nathan T Lavinka | Board Member-ex Officio | 2 | $0 | $0 | $0 | $0 |
| Mr Omar M Asali | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Richard R Whitt Iii | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Roger H Moore | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Stephen T Mason | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr Sumeet V Singh | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr W Lake Wagner | Board Member | 2 | $0 | $0 | $0 | $0 |
| Mr William N Park | Vice Chair | 2 | $0 | $0 | $0 | $0 |
| Ms Jacqueline L Archer | Board Member | 2 | $0 | $0 | $0 | $0 |
| Ms Laila N Rossi | Board Member | 2 | $0 | $0 | $0 | $0 |
| Ms Letitia A Long | Board Member-ex Officio | 2 | $0 | $0 | $0 | $0 |
| Ms Margaret L Callahan | Board Member | 2 | $0 | $0 | $0 | $0 |
| Ms Renae C Pearson | Board Member | 2 | $0 | $0 | $0 | $0 |
| Ms Shirish S Sathaye | Board Member | 2 | $0 | $0 | $0 | $0 |
| Ms Traci J Deshazor | Board Member | 2 | $0 | $0 | $0 | $0 |
Mr Christopher J Brightman
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Christopher M Quillen
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Christopher W Shean
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Donald Don B Halliwill
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Edward H Baine
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Gregory C Godsey
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Gregory C Thompson
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr J Benjamin Doughtie
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr J Ryan Lingerfelt
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr James G Petrine
Board Member-ex Officio
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr James N Strawbridge
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Kevin T Crofton
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Marty Muscatello
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Nathan T Lavinka
Board Member-ex Officio
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Omar M Asali
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Richard R Whitt Iii
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Roger H Moore
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Stephen T Mason
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr Sumeet V Singh
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr W Lake Wagner
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mr William N Park
Vice Chair
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Jacqueline L Archer
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Laila N Rossi
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Letitia A Long
Board Member-ex Officio
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Margaret L Callahan
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Renae C Pearson
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Shirish S Sathaye
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Ms Traci J Deshazor
Board Member
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0