Virginia Tech Foundation Inc

Analysis

Virginia Tech Foundation Inc is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in February 1949, 77 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Tech Foundation Inc reported income of $222.3m and spending of $169.5m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $233.4m to $222.3m (-4.8%), an average of -1.2% a year. The sharpest change came in the year to June 2021, when income rose by 53%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Tech Foundation Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within VA. Charities of a similar size with the same main cause include Gettysburg College ($221.8m), Florida Institute of Technology Inc ($222.5m) and Dickinson College ($221.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 7.9% of the total. Compensation of current officers, directors and key employees was $2.2m (1.3% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $2.85bn against liabilities of $1.01bn, net assets of $1.84bn. It reported 76 employees.