2023-09-21T11:42:46-05:00 2022-12-31 BDO USA 300 E Main Street Suite 1300 Norfolk VA 23510 990 2022-01-01 546052014 OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION % CFO - FOUNDATIONS OLDD 7576834524 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 ALONZO BRANDON EXECUTIVE DIRECTOR 7576834524 2023-09-20 true ALONZO BRANDON 999009999 Marc Berger P01871563 7576407190 2023-09-20 2 2022 2023-04-26 12:10:37Z ALONZO BRANDON 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 96733181 false X N/A X 1955 VA SEE SCHEDULE O SUPPLEMENTAL INFORMATION FOR ORGANIZATION'S MISSION 27 27 1 31 2032338 198856 21271009 5785585 0 0 11900263 21962671 346600 797437 33517872 28545693 12579271 16216383 0 0 0 0 0 0 636847 3016341 3140113 15595612 19356496 17922260 9189197 390141589 344230798 85546536 76707401 304595053 267523397 OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION WAS ESTABLISHED TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. false false 16431622 16216383 894566 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. 16431622 true true false false false false false false false true true true false false true true true false false false true false false false false false false true false false false false false false false false false false true false false false false false false false false true 32 0 true 1 true true true false false false false false false false false false false false X 27 27 false false false false false false false true true false false true true true true true true false false false VA X CFO - FOUNDATIONS 7576834471 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 X GARY A GILMORE CHAIRMAN 1.0 0.0 X X 0 0 0 RAY WITTERSHEIM VICE CHAIR 0.5 0.0 X X 0 0 0 CAROLINE MCCARTNEY SECRETARY 0.2 0.0 X X 0 0 0 PRESCOTT SHERROD TREASURER 0.5 0.0 X X 0 0 0 GARRET A ALCARAZ TRUSTEE 0.1 0.0 X 0 0 0 JACQUELINE B AMATO TRUSTEE 0.1 0.0 X 0 0 0 BETSY ATKINSON TRUSTEE 0.1 0.0 X 0 0 0 JAMES W BEAMER TRUSTEE 0.1 0.0 X 0 0 0 BRUCE T BISHOP TRUSTEE 0.1 0.0 X 0 0 0 JOE E CARTER TRUSTEE (FROM 07/2022) 0.1 0.0 X 0 0 0 KIM CURTIS TRUSTEE 0.1 0.0 X 0 0 0 JANET A ELLIS TRUSTEE 0.1 0.0 X 0 0 0 POLLY S FOOTE TRUSTEE 0.1 0.0 X 0 0 0 WEYMAN GONG TRUSTEE 0.1 0.0 X 0 0 0 RICHARD T HARRIS TRUSTEE 0.1 0.0 X 0 0 0 JAMES J IZARD II TRUSTEE 0.1 0.0 X 0 0 0 ROBERT M KING JR TRUSTEE 0.1 0.0 X 0 0 0 KRISTOPHER KNEPPER TRUSTEE (THRU 06/2022) 0.1 0.0 X 0 0 0 CHRISTOPHER MINER TRUSTEE (THRU 06/2022) 0.1 0.0 X 0 0 0 WILLIAM MONROE TRUSTEE (FROM 07/2022) 0.1 0.0 X 0 0 0 ANGELA REDDIX TRUSTEE (THRU 06/2022) 0.1 0.0 X 0 0 0 JOHNATHAN REED TRUSTEE 0.1 0.0 X 0 0 0 L SCOTT TRAINUM TRUSTEE 0.1 0.0 X 0 0 0 BRAD WAITZER TRUSTEE(FROM 07/2022) 0.1 0.0 X 0 0 0 MARK WARDEN TRUSTEE 0.1 0.0 X 0 0 0 THOMAS T WINBORNE TRUSTEE 1.1 0.0 X 0 0 0 BRIAN O HEMPHILL EX-OFFICIO 0.1 0.0 X 0 0 0 ANDRE WELLS EX-OFFICIO 0.1 0.0 X 0 0 0 ROBERT BROERMANN EX-OFFICIO (FROM 07/2022) 0.1 0.0 X 0 0 0 MIKE LAROCK Trustee (thru 8/2022) 0.1 0.0 X 0 0 0 CINDY GALL ASST. SECRETARY (FROM 11/2022) 13.0 0.0 X 0 0 0 DONNA MANGLICMOT ASST. SECRETARY (THRU 05/2022) 13.0 0.0 X 0 0 0 MICHAEL LAROCK ASST. TREASURER (FROM 09/2022) 13.0 0.0 X 0 0 0 MAGGIE LIBBY ASST. TREASURER (THRU 09/2022) 20.0 0.0 X 0 0 0 ALONZO BRANDON EX-OFFICIO/EXECUTIVE DIRECTOR 10.0 0.0 X 0 0 0 0 0 0 0 false false false 0 5785585 128102 5785585 0 22715590 2032338 20683252 0 0 210444 307573 -97129 0 -97129 -97129 67126996 67879915 -752919 -752919 -752919 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 894566 894566 894566 28545693 894566 2032338 19833204 16216383 16216383 0 0 0 0 0 0 0 0 0 0 5774 5774 45600 45600 0 0 883283 883283 34700 19700 15000 0 16506 16506 15959 15959 0 0 150405 28033 12812 109560 0 0 0 0 398 398 4150 4150 PERSONNEL 1530527 1179005 351522 OTHER WAGES & PAYROLL TAXES 53825 53825 MEALS AND BANQUET SERVICES 94163 4595 17396 72172 REPAIRS & MAINTENANCE 106 106 304717 128786 87338 88593 19356496 16431622 2288027 636847 358200 598972 0 0 9982634 7681958 51432 266669 0 0 0 0 0 0 0 0 0 0 4268243 246735 4141034 4021508 266111922 215902213 109258231 115501448 0 0 0 0 238136 258030 390141589 344230798 436152 534972 0 0 0 0 0 0 0 0 0 0 0 0 0 0 85110384 76172429 85546536 76707401 X 23020879 20281592 281574174 247241805 304595053 267523397 390141589 344230798 X 9189197 -38492112 -7768741 X false true X true false X 17487778 15285625 6346564 21271009 5785585 66176561 0 0 17487778 15285625 6346564 21271009 5785585 66176561 12545347 53631214 2457159 2956666 3340666 7739921 20893696 37388108 1436384 438725 535721 952133 2032338 5395301 267312 330863 325889 392808 894566 2211438 111171408 0.48242 0.56580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 274964087 4124379 -23844893 0 11258786 243984787 228589798 11107805 45549424 2664134 7618806 274964087 205763070 7074463 25158413 2394972 7011176 228589798 175611892 8445262 30680935 2228097 6746922 205763070 183543106 6197432 -5515642 2248432 6364572 175611892 0.05470 0.34270 0.60260 false false 924000 924000 3276000 178691 3097309 68243 68044 199 0 0 0 4021508 0 0 FUNDS HELD FOR RELATED ENTITIE 75484324 SPLIT INTEREST LIABILITY 658190 OTHER LIABILITIES 29915 76172429 X -18598443 -38492112 -38492112 19893669 883283 7768741 8652024 28545693 18473213 18473213 883283 883283 19356496 PART V, LINE 4 THE FOUNDATION'S ENDOWMENT CONSISTS OF 660 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2 THE FOUNDATION IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. EXEMPT ORGANIZATIONS ARE SUBJECT TO TAX ON INCOME FROM REGULARLY CONDUCTED TRADE OR BUSINESS ACTIVITIES THAT ARE NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSE. THE FOUNDATION HAS NET OPERATING LOSS CARRYFORWARDS OF APPROXIMATELY $921,000 AND A DEFERRED TAX ASSET OF $248,674 RELATED TO ITS UNRELATED BUSINESS INCOME AT DECEMBER 31, 2021. VALUARTION ALLOWANCES ARE ESTABLISHED WHEN NECESSARY TO REDUCE DEFERRED TAX ASSETS TO THE AMOUNT EXPECTED TO BE REALIZED. MANAGEMENT RECORDED A VALUATION ALLOWANCE OF $248,674 AT DECEMBER 31, 2021. THE FOUNDATION DID NOT HAVE NET OPERATING LOSS CARRYFORWARDS OR A DEFERRED TAX ASSET AT DECEMBER 31, 2022. THE DECREASE IN THE VALUATION ALLOWANCE WAS $248,674 AND $73,158 FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, RESPECTIVELY. TAX YEARS BEFOER 2019 ARE NO LONGER SUBJECT TO EXAMINATIONS. MANAGEMENT CONTINUALLY EVALUATES TAX POSITIONS REFLECTED IN THE FOUNDATION'S TAX FILINGS AND DOES NOT BELIEVE THAT ANY MATERIAL UNCERTAIN TAX POSITIONS EXIST. PART XI, LINE 4B - OTHER INCREASE IN ALLOWANCE FOR UNCOLLECTIBLE PROMISES TO GIVE $302,079 PLUS THE DECREASE IN THE VALUE OF SPLIT INTEREST AGREEMENTS $10,964 PLUS THE CHANGE IN THE VALUE OF INVESTMENTS HELD FOR RELATED ENTITIES $7,455,698. Central America and the Caribbean 0 0 Investments NONE 6763662 0 0 0 0 6763662 6763662 true false false false true false true OLD DOMINION UNIVERSITY 5115 HAMPTON BOULEVARD 4TH FLOOR NORFOLK VA 23529 546000884 GOVERNMENT 15257952 SEE PART IV OLD DOMINION UNIVERSITY REAL ESTATE fdn 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 541744996 501(c)(3) 101100 SEE PART IV OLD DOMINION UNVERSITY ALUMNI ASSOCIATION BARRY M KORNBLAU ALUMNI CENTER NORFOLK VA 23529 541379119 501(c)(3) 205000 SEE PART IV OLD DOMINION UNIVERSITY MUSEUM FOUNDATION 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 812652321 501(c)(3) 18850 15000 Book Donated Services SEE PART IV 4 Part I, Line 2 THE FOUNDATION PROVIDES FUNDS TO OLD DOMINION UNIVERSITY FOR SCHOLARSHIP AND PROGRAM ACTIVITIES BASED ON THE DONOR'S INTENTIONS. ALL DONOR RESTRICTIONS ARE FORWARDED TO THE APPROPRIATE UNIVERSITY OFFICIALS. DISBURSEMENT OF THE FUNDS IS MANAGED AND MONITORED BY THE UNIVERSITY IN COMPLIANCE WITH RESTRICTIONS AND IN ACCORDANCE WITH UNIVERSITY POLICIES AND PROCEDURE. THE PURPOSE OF THE GRANTS REPORTED IN PART II ARE TO ASSIST THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY AND THE ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSTIY REAL ESTATE FOUNDATION, OLD DOMINION UNIVERSITY ALUMNI ASSOCIATION, AND OLD DOMINION UNIVERSITY MUSEUM FOUNDATION. PART II, PURPOSE OF GRANT OR ASSISTANCE TO ASSIST WITH THE ACTIVITIES AND OBJECTIVES OF EACH ORGANIZATION. X 19 124407 SELLING PRICE X TRAVEL COSTS 1 145 FAIR MKT VALUE X MISC. ITEMS 2 50 FAIR MKT VALUE X CONSULTING SERVICES 6 3500 FAIR MKT VALUE false true false SCHEDULE M, PART I, COLUMN (B) FOR LINE 9(B), THE NUMBER OF STOCK DONATIONS RECEIVED (NOT SHARES) IS REPORTED. FORM 990, PART I, LINE 1 OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION WAS ESTABLISHED TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF ODU. FORM 990, PART VI, SECTION B, LINE 11B THE 990 TAX FORMS ARE REVIEWED BY THE FINANCE AND AUDIT AND EXECUTIVE COMMITTEES AND ARE PROVIDED TO VOTING MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ONCE THE ANNUAL INTEREST DISCLOSURE FORMS ARE RECEIVED, MANAGEMENT REVIEWS THEM TO ENSURE THAT THERE ARE NO ISSUES. IN THE EVENT OF A CONFLICT OF INTEREST, THE AFFECTED TRUSTEE WILL ABSTAIN FROM PARTICIPATING IN THE DISCUSSION OF THE MATTER AND FROM VOTING ON IT. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION RELIES ON OLD DOMINION UNIVERSITY'S WRITTEN CONTRACTS AND BOARD OF VISITORS APPROVALS OF COMPENSATION OF THE TOP MANAGEMENT OFFICIALS OF THE FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24A THE FOUNDATION HAS ENTERED INTO A STAFF SUPPORT AGREEMENT WITH THE UNIVERSITY IN WHICH THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE COST OF CERTAIN STAFF MEMBERS PROPORTIONATE TO THE TIME DEVOTED TO SERVING THE FOUNDATION. FORM 990, PART XII, LINE 2C THE FOUNDATION'S FINANCE AND AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FORM 990, PART XI, LINE 9 INCREASE IN ALLOWANCE FOR UNCOLLECTIBLE PROMISES TO GIVE $302,079 PLUS THE DECREASE IN THE VALUE OF SPLIT INTEREST AGREEMENTS $10,964 AND CHANGE IN THE VALUE OF INVESTMENTS HELD FOR RELATED ENTITIES $7,455,698.