Virginia Tech Foundation

Legal name: Virginia Tech Foundation Inc

Nonprofit profile at a glance

EIN
540721690
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Blacksburg, VA, USA
Phone
540-231-2531
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$245,697,159
Expenses
$205,689,294
Assets
$3,143,485,820
Liabilities
$1,047,668,461

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

Leadership & pay

54 people listed

Executive titles in this filing

  • ELIZABETH A MCCLANAHAN (CHIEF EXECUTIVE OFFICER)
  • DR JOHN DOOLEY (FORMER CEO; SA VT ATHLETIC DIR)

Highest reported compensation

  • MR DAVID GREENBERG (CHIEF INVESTMENT OFFICER): $1,570,447 total reported compensation
  • DR TIMOTHY D SANDS (BOARD MEMBER- EX OFFICIO): $1,264,785 total reported compensation
  • MR CHARLES D PHLEGAR (BOARD MEMBER - EX OFFICIO): $1,025,442 total reported compensation

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

Overview

Mission

VTF orchestrates the growth and impact of Virginia Tech’s assets to achieve the University’s aspirations for education and research.

What it reported doing in 2024

Guided by a strong commitment to fiduciary responsibility, the foundation receives, manages, and disburses private gifts to advance the missions of Virginia tech. The foundation strives to be an exceptional steward of the assets provided by the university's many generous donors, and to grow and leverage those assets to the fullest extent to enable the forward progress of the university and all of its constituents. Anchoring a solid investment in the future of Virginia tech, endowed gifts make up the largest portion of the foundation's assets. The endowment is an actively managed portfolio incorporating deep fundamental analysis and a value-oriented, global approach. Complementing the endowment's investments, the foundation manages an extensive real estate portfolio. Real estate (see schedule o) acquisitions, construction and renovation are done at the request of the university and real estate gifts are designated in accordance with donor intent for ultimate disposition to support the missions of Virginia tech.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 74
  • Accountability: 94
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.4%; rating input score 92
  • Program expense ratio: 91%; rating input score 91
  • Fundraising efficiency: $18.78 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 88.6%; rating input score 89; 35th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 16.3%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 15.28; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 56th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 92.4% of revenue deployed · 91% of spending went to programs
  • Governance: 31 of 35 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $187.2M in reported program spending
  • Leadership: top reported pay $1.6M · 54 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.5M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 16 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 — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.