Old Dominion University Educational Foundation

Nonprofit profile at a glance

EIN
546052014
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Norfolk, VA, USA
Phone
757-683-4999
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$45,608,493
Expenses
$22,654,541
Assets
$412,433,348
Liabilities
$78,378,801

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • Alonzo Brandon (Ex-Officio/Executive Director)

People named in this filing

  • Caroline McCartney (Secretary)
  • Garret A Alcaraz (Treasurer)
  • James J Izard II (Vice Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Old Dominion University Educational Foundation supports Old Dominion University by managing charitable gifts and endowments that fund scholarships, faculty development, and academic programs, thereby transforming student lives and fostering community impact.

What it reported doing in 2024

To administer and distribute funds and property exclusively to support the mission, objectives and programs of old dominion university. The foundation provides supplemental funds to help defray operating costs of academic departments and special projects. The supplemental funds are used to provide student and faculty scholarships/awards, eminent scholar professorships, faculty salaries and faculty research. The foundation also provides funding for university development, capital projects and substantial support of operations of the library and its collections.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.9%; rating input score 62
  • Program expense ratio: 85.6%; rating input score 86
  • Fundraising efficiency: $38.71 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 96.8%; rating input score 97; 26th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 50.3%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 18.21; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 9% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 61.9% of revenue deployed · 85.6% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $19.4M in reported program spending
  • Leadership: top reported pay $0 · 31 people listed
  • Highest-paid contractors: 2 contractors listed · $221K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.