Virginia Commonwealth University School of Business Foundation
Nonprofit profile at a glance
- EIN
- 202661802
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Richmond, VA, USA
- Phone
- 8048281487
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Management & Technical Assistance
Reported finances
- Revenue
- $5,640,575
- Expenses
- $6,076,337
- Assets
- $97,249,353
- Liabilities
- $22,600,355
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Highest reported compensation
- LAURA E KOTTKAMP (SECRETARY): $195,439 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the foundation is to assist, support and foster the activities and mission of the school of business at Virginia commonwealth university. It solicits, manages and distributes assets to benefit programs in the school of business. It also owns property which is leased to Virginia commonwealth university to be used for school of business classes and activities.
What it reported doing in 2024
The vcu school of business foundation assists and supports Virginia commonwealth university's school of business by providing educational conferences and noncredit bearing courses for members of the school and community. These types of activities include executive education courses in leadership skills, technical training in business areas such as six sigma, professional exam review courses and industry conferences for real estate, risk & insurance and international business. Any proceeds from conferences and noncredit bearing course registrations that exceed the cost of the programs are used to support programmatic initiatives within the school of business.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 95
- Transparency & Controls: 71
- Accountability: 100
- Sustainability: 48
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 99%; rating input score 99
- Program expense ratio: 91%; rating input score 91
- Fundraising efficiency: $74.7 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd 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; 63rd percentile among comparable filings
- Governance controls: 8 of 8 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: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -7.7%; rating input score 16; 16th percentile among comparable filings
- Total-asset coverage ratio: 16; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 40; 40th percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 67; 67th percentile among comparable filings
Growth
- Program expense growth: -2% per year; rating input score 0; 9th percentile among comparable filings
- Revenue growth: -0.3% per year; rating input score 0; 10th percentile among comparable filings
- Asset growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings
Details
- Where the money goes: 99% of revenue deployed · 91% of spending went to programs
- Governance: 25 of 25 board members independent · 8 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $5.5M in reported program spending
- Leadership: top reported pay $195K · 25 people listed · 0 of 6 pay-setting controls reported
- Consistency: 27 of 27 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 16/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 40/100.