The Virginia Foundation for Community College Education Inc

What it reported doing in 2024

Scholarships since 2006, the foundation has supported hundreds of students across Virginia's 23 community colleges through its scholarships and fellowships program. Thanks to our generous partners, the vfcce has awarded more than $7 million in scholarships, helping students succeed and reach their educational goals. For the 2024 -25 academic year, 110 scholarships were awarded, totaling $511,250. The prestigious fellows program awards high-achieving second-year students with full scholarship support to complete associate degrees and develop leadership skills through a cohort model. Since its launch in 2011, the fellows program has supported 348 students through financial assistance, mentoring, and leadership training.college attainment for parent students (caps)the Virginia foundation for community college education (vfcce) launched a critical initiative in 2023 to support single parents from low-income backgrounds as they pursue college. The college attainment for parent students (caps) program advances a two-generation, anti-poverty solution that increases employment and income opportunities by providing comprehensive coaching services and targeted financial assistance. The pilot program served 100 parent students across five colleges providing direct student support through a cohort model and helped to identify structural challenges that are hindering parent-student success. Caps will be relaunched in fall 2025 to engage more colleges and support more parent students statewide.since may 2025, the caps program has successfully transitioned from its pilot phase into a robust statewide expansion across the Virginia community college system. The vision for this expansion is to grow from an initial five-college pilot serving 189 students to supporting up to 1,500 students over the next three years, while continuing to drive increased graduation and retention rates. By developing an integral program tool kit and gathering critical student demographic data, the program established a data-driven infrastructure to support onboarding colleges. This expansion was further strengthened by obtaining additional funding, establishing a tiered allocation model based on enrollment size, and creating standardized guidelines to ensure equitable distribution. To maintain high-quality implementation, the program allocated resources to the original pilot colleges to provide mentoring and leadership through a newly established community of practice for coaches. Currently operational in 21 out of 23 community colleges, caps has seen an increase of about 700 enrolled parent students. The initiative continues to align with statewide goals by hosting collaborative meetings and impact sessions. These sessions feature former recipients who share their experiences, highlighting how coaching and financial support have positively transformed the academic careers of student parents.

Financial Efficiency

• Mission deployment rate: 84.1%; rating input score 84
• Program expense ratio: 87.1%; rating input score 87
• Fundraising efficiency: $17.68 raised per $1 spent on fundraising; rating input score 54; 54th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 43rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95.5%; rating input score 95; 29th percentile among comparable filings
• Governance controls: 6 of 7 controls in place; rating input score 86
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Fail
  • 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: 20.8%; rating input score 83; 83rd percentile among comparable filings
• Total-asset coverage ratio: 2.12; rating input score 64; 64th percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 85; 85th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

• Program expense growth: 10.8% per year; rating input score 100; 73rd percentile among comparable filings
• Revenue growth: 6.1% per year; rating input score 100; 53rd percentile among comparable filings
• Asset growth: 6.9% per year; rating input score 100; 48th percentile among comparable filings