Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1949.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
76 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
44 people listed on the 990; $2.1M paid to officers and key staff.
Mr David Greenberg’s $1.5M as Chief Investment Officer is at the 86th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Mr David Greenberg | $1,494,627 | $921,129 | — | — | — | — |
| Mr Daniel Ward | — | $1,359,544 | $1,203,824 | $508,178 | $525,136 | $554,552 |
| Elizabeth a McClanahan | $868,291 | $669,577 | $595,000 | $300,000 | — | — |
| Cyril R Clarke - Director | $617,216 | — | — | — | — | — |
| Ms Terri T Mitchell | $521,952 | $269,127 | $270,149 | $244,388 | — | — |
| Dr John E Dooley | — | — | — | — | $492,640 | $452,140 |
| Mr Louie Vuong | $405,983 | — | — | — | — | — |
| Ms Margaret Millhiser | $370,378 | — | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Manages and invests the university's endowment, real estate portfolio, and private donations to support and advance the mission of Virginia Tech.
Questions for Virginia Tech Foundation INC
Your first name shows with your question. Virginia Tech Foundation INC answers here, for everyone.
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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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $144.7M | $128.4M |
| InvestmentsLn 11–13 | $1.51B | $1.86B |
| Land, buildings, equipmentLn 10c | $180.7M | $220.9M |
| Total assetsLn 16 | $2.25B | $2.71B |
| LiabilitiesLn 26 | $844.4M | $975.9M |
| Net assetsLn 32 | $1.41B | $1.73B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $32.8M | $32.8M | ||
| Pay of current officers, directors and key staffLn 5 | $1.4M | $1.4M | ||
| Pay of disqualified personsLn 6 | $1.6M | $223K | $1.4M | |
| Pension plan contributionsLn 8 | $474K | $27K | $448K | |
| Other employee benefitsLn 9 | $706K | $50K | $656K | |
| Payroll taxesLn 10 | $1.8M | $52K | $1.8M | |
| Legal feesLn 11b | $102K | $87K | $16K | |
| Accounting feesLn 11c | $20K | $20K | ||
| Lobbying feesLn 11d | $48K | $48K | ||
| Advertising and promotionLn 12 | $733K | $671K | $2K | $61K |
| Office expensesLn 13 | $2.8M | $1.8M | $124K | $833K |
| Information technologyLn 14 | $302K | $66K | $63K | $173K |
| OccupancyLn 16 | $937K | $851K | $78K | $8K |
| TravelLn 17 | $216K | $163K | $6K | $46K |
| Conferences, conventions and meetingsLn 19 | $177K | $168K | $6K | $3K |
| InterestLn 20 | $7.1M | $1.1M | $6.0M | |
| Depreciation, depletion and amortizationLn 22 | $1.5M | $1.4M | $168K | $5K |
| InsuranceLn 23 | $907K | $792K | $113K | $2K |
| Other expenses (24a–d)Ln 24 | $53.1M | $43.0M | $2.2M | $7.8M |
| All other expensesLn 24e | $7.9M | $3.6M | $1.9M | $2.4M |
| Total functional expensesLn 25 | $114.6M | $86.8M | $16.4M | $11.3M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $293.8M | $182.6M | $111.1M | $2.0B | 990 PDF |
| FY2023 | $222.3M | $169.5M | $52.8M | $1.8B | 990 PDF |
| FY2022 | $317.1M | $201.5M | $115.6M | $1.7B | 990 PDF |
| FY2021 Viewing | $338.7M | $114.6M | $224.1M | $1.7B | 990 PDF |
| FY2020 | $222.0M | $139.2M | $82.8M | $1.4B | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $338,678,106 revenue, 12 lines filed
Part VI · Governance 32 of 32 board members independent, no flags
Part VIII · Statement of revenue $338,678,106 across 10 lines filed
Part IX · Statement of functional expenses $114,591,621 across 20 lines filed
Part X · Balance sheet $2,705,348,340 assets, 20 lines filed
Part XI · Reconciliation of net assets $1,729,478,924 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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