2021-05-16T11:46:10-05:00 2020-06-30 540504608 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN STREET SW ROANOKE VA 24014 990 2019-07-01 540721690 VIRGINIA TECH FOUNDATION INC VIRG 5402315751 902 PRICES FORK ROAD NO 4000 BLACKSBURG VA 24061 DR JOHN E DOOLEY CEO, SEC-TREASURER 5402315751 2021-05-15 1 JEFFREY G BARBOUR P01331383 5403450936 2021-05-14 2019 2022-09-23 18:48:47Z DR JOHN E DOOLEY 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 241119090 0 X WWW.VTF.VT.EDU X 1948 VA THE FOUNDATION RECEIVES, MANAGES, AND DISBURSES PRIVATE GIFTS IN SUPPORT OF PROGRAMS AT VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). 36 31 125 0 9988498 1332606 136988218 163472809 15764877 15323203 59939742 23338575 20708248 19865099 233401085 221999686 30678376 33633985 0 0 6097308 5962790 0 0 14569857 95045053 99617322 131820737 139214097 101580348 82785589 2098062269 2253132781 716733751 844377394 1381328518 1408755387 THE FOUNDATION RECEIVES, INVESTS, AND MANAGES PRIVATE ASSETS HELD FOR THE SUPPORT OF PROGRAMS AT VIRGINIA TECH AND TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE UNIVERSITY. 0 0 111098304 33633985 15448113 VIRGINIA TECH FOUNDATION SUPPORTS THE PROGRAMS OF VIRGINIA TECH. THE FOUNDATION DOES THIS BY GENERATING FUNDING FROM PRIVATE SOURCES AND AGGRESSIVELY MANAGING ITS ASSETS TO SUPPLEMENT STATE APPROPRIATIONS, TUITION, AND OTHER SOURCES OF FUNDS. THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO STUDENTS, ADDITIONAL OPERATING SUPPORT TO COLLEGES AND DEPARTMENTS, ASSISTS IN THE FUNDING OF MAJOR BUILDING PROJECTS, PROVIDES SEED CAPITAL FOR NEW UNIVERSITY INITIATIVES, AND INITIATES MAJOR PROJECTS AS REQUESTED BY THE UNIVERSITY. IN ADDITION, THE FOUNDATION MANAGES VIRGINIA TECH'S ENDOWMENT. THE FOUNDATION DEPLOYS CAPITAL IN WAYS THAT SERVE THE INTERESTS NOT ONLY OF THE UNIVERSITY, BUT ALSO OF ITS REGIONS. 111098304 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 519 0 1 125 1 1 1 1 SG SZ 0 0 0 1 1 1 1 0 0 1 0 0 0 X 36 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 1 1 VA X DR JOHN E DOOLEY 5402315751 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 MS SANDRA C DAVIS CHAIRMAN 2.00 X X 0 0 0 MR CHARLES D PHLEGAR EXECUTIVE VICE PRESIDENT 2.00 38.00 X X 0 720921 128386 DR JOHN E DOOLEY CEO & SECRETARY TREASURER 30.00 10.00 X X 452140 0 33447 DR DWAYNE L PINKNEY EXECUTIVE VICE PRESIDENT 2.00 38.00 X X 0 491904 49019 MR JOHN C ASBURY BOARD MEMBER 2.00 X 0 0 0 MR OMAR M ASALI BOARD MEMBER 2.00 X 0 0 0 MR CHRISTOPHER J BRIGHTMAN BOARD MEMBER 2.00 X 0 0 0 MS MARGARET L CALLAHAN BOARD MEMBER 2.00 X 0 0 0 MS DESERIA CREIGHTON-BARNEY BOARD MEMBER 2.00 X 0 0 0 MR KEVIN T CROFTON BOARD MEMBER 2.00 X 0 0 0 MR JOHN C FERNANDO BOARD MEMBER 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VALEIRAS BOARD MEMBER 2.00 X 0 0 0 MR WILLIAM HANSON WEST JR BOARD MEMBER 2.00 X 0 0 0 MR RICHARD R RICHIE WHITT III BOARD MEMBER 2.00 X 0 0 0 MS TERRI MITCHELL ASSISTANT SECRETARY 40.00 X X 228050 0 47611 MR JOHN CUSIMANO UNIVERSITY TREASURER 2.00 38.00 X 0 263187 53672 MR DANIEL WARD CIO ENDOWMENT 40.00 X 554552 0 55704 MR EBENHARD STODDARD INVESTMENT MANAGER 40.00 X 213080 0 41913 MR BRYAN BOEHLING INVESTMENT MANAGER 40.00 X 209976 0 56039 MS CATHERINE POTTER ASSOC VP/GENERAL COUNSEL 40.00 X 213249 0 34641 MS TAMMY COSTIGAN ASSISTANT CONTROLLER 40.00 X 129955 0 34606 MR JAMES FORD DIRECTOR OF INFORMATION SYSTEMS 40.00 X 121004 0 33346 MS KAREN BOLLING DIRECTOR OF INTERNAL AUDIT 40.00 X 120750 0 32955 2242756 2090607 926263 9 0 1 0 AVIS CONSTRUCTION COMPANY INC 521 RUTHERFORD AVE ROANOKE VA 24016 CONSTRUCTION 7097041 E C PACE COMPANY INC PO BOX 12685 ROANOKE VA 24027 CONSTRUCTION 1330843 GJ HOPKINS INC 1001 BOULDERS PARKWAY STE 100 RICHMOND VA 23225 CONSTRUCTION 1190532 CR HENDERSON 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12582826 10439204 180683622 PARTNERSHIP INVESTMENTS 638682788 C INVESTMENT IN SUB 78513149 C REAL ESTATE INVESTMENTS 38135774 C OTHER INVESTMENTS 89506871 C 844838582 AGENCY DEPOSITS HELD IN TRUST 459300207 TRUST PAYMENT LIABILITIES 18377014 THIRD PARTY TRUST OBLIGATIONS 4127014 ANNUITY OBLIGATIONS 6239029 488043264 X PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT VTF AND VTREF QUALIFY UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND ARE, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION HAS ANALYZED FILING POSITIONS IN THE FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS, AND NO RESERVES FOR UNCERTAIN TAX POSITIONS, NOR INTEREST AND PENALTIES, HAVE BEEN RECORDED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. THE ONLY PERIODS SUBJECT TO EXAMINATION ARE THE 2016 THROUGH 2019 TAX YEARS. SCHEDULE D, PART III, LINE 4 COLLECTIONS OF ART VINTAGE AND OTHER COLLECTION ITEMS ARE USED TO SUPPORT THE EDUCATIONAL AND RESEARCH MISSION OF VIRGINIA TECH. SCHEDULE D, PART V, LINE 4 ENDOWMENT FUNDS THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 3,897 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. THE INTENT IS THAT THE PRINCIPAL OF THE ORIGINAL GIFT CAN BE USED TO PROVIDE A PERPETUAL STREAM OF FINANCIAL SUPPORT TO A PROGRAM, SCHOLARSHIP OR PROFESSORSHIP AT VIRGINIA TECH. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. EUROPE 4 0 PROGRAM SERVICES RENT 282459 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATION 421516 NORTH AMERICA 0 0 INVESTMENTS 475829133 4 0 0 0 4 0 476533108 0 476533108 1 0 1 1 1 0 PART III ACCOUNTING METHOD: 1 VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 150 STUDENT SVCS BLVD BLACKSBURG VA 24061 546001805 115 33633985 SCHOLARSHIPS 1 PART I, LINE 2: THE FOUNDATION MAKES GRANTS TO PROVIDE SCHOLARSHIPS TO STUDENTS OF VIRGINIA TECH. X X X X X 0 0 0 1 0 0 0 0 0 MR CHARLES D PHLEGAR EXECUTIVE VICE PRESIDENT 0 686330 0 10000 0 24591 0 35000 0 93386 0 849307 0 0 DR JOHN E DOOLEY CEO & SECRETARY TREASURER 452140 0 0 0 0 0 30356 0 3091 0 485587 0 0 0 DR DWAYNE L PINKNEY EXECUTIVE VICE PRESIDENT 0 446554 0 0 0 45350 0 0 0 49019 0 540923 0 0 DR TIMOTHY D SANDS BOARD MEMBER 0 583384 0 20000 0 11211 0 240000 0 84924 0 939519 0 0 MS TERRI MITCHELL ASSISTANT SECRETARY 228050 0 0 0 0 0 29146 0 18465 0 275661 0 0 0 MR JOHN CUSIMANO UNIVERSITY TREASURER 0 239170 0 16885 0 7132 0 0 0 53672 0 316859 0 0 MR DANIEL WARD CIO ENDOWMENT 487501 0 67051 0 0 0 35676 0 20028 0 610256 0 0 0 MR EBENHARD STODDARD INVESTMENT MANAGER 190000 0 23080 0 0 0 23216 0 18697 0 254993 0 0 0 MR BRYAN BOEHLING INVESTMENT MANAGER 192499 0 17477 0 0 0 48243 0 7796 0 266015 0 0 0 MS CATHERINE POTTER ASSOC VP/GENERAL COUNSEL 213249 0 0 0 0 0 23234 0 11407 0 247890 0 0 0 MS TAMMY COSTIGAN ASSISTANT CONTROLLER 129955 0 0 0 0 0 16815 0 17791 0 164561 0 0 0 MR JAMES FORD DIRECTOR OF INFORMATION SYSTEMS 121004 0 0 0 0 0 15690 0 17656 0 154350 0 0 0 MS KAREN BOLLING DIRECTOR OF INTERNAL AUDIT 120750 0 0 0 0 0 15658 0 17297 0 153705 0 0 0 PART I, LINE 5 THE FOUNDATION'S INVESTMENT MANAGEMENT STAFF ARE ELIGIBLE TO RECEIVE BONUSES BASED ON THE FOUNDATION'S 3 YEAR ENDOWMENT PERFORMANCE AND RANKING. THE BONUS PROGRAM WAS APPROVED BY THE INVESTMENT COMMITTEE OF THE FOUNDATION'S BOARD OF DIRECTORS, AND THE BONUS AWARDS ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER AND PAID FROM THE FOUNDATION'S ENDOWMENT ANNUALLY. A ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 XXXXXXXXX 2012-12-27 4365000 SEE PART VI 0 0 0 B ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741EN3 2013-10-30 18650559 SEE PART VI 0 0 0 C ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741GE1 2017-05-17 41889983 SEE PART VI 0 0 0 D ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 XXXXXXXXX 2017-05-17 23750000 SEE PART VI 0 0 0 A 3760000 4365000 4365000 2007 1 0 1 1 B 3685000 18650559 219381 18431178 2015 0 0 1 1 C 1910000 41889983 11337834 275025 30277124 2017 1 1 1 1 D 9305000 23750000 75000 23675000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 1 1 1 1 0 0 1 D 0 0 0 0 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 0 1 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 0 D 0 SCHEDULE K, PART I, COLUMN (F) SERIES 2013 BOND DESCRIPTION OF PURPOSE: FINANCING NEW CONSTRUCTION FOR VARIOUS PROJECTS. SERIES 2017A BOND DESCRIPTION OF PURPOSE: REFUND PORTIONS OF THE SERIES 2010A AND SERIES 2011A BONDS, REFINANCE THE TAXABLE COLLEGIATE SQUARE NOTE, AND FINANCE COST OF ISSUANCE. SERIES 2017C BOND DESCRIPTION OF PURPOSE: REFUND PORTIONS OF THE SERIES 2005 AND 2009A BONDS AND FINANCE THE COST OF ISSUANCE. SERIES 2019A BOND DESCRIPTION OF PURPOSE: FINANCING NEW CONSTRUCTION OF VARIOUS PROJECTS. SERIES 2011A BOND DESCRIPTION OF PURPOSE: REFUND A PORTION OF THE SERIES 2009A, 2009B AND SERIES 2000 BONDS, FINANCE THE COST OF ISSUANCE OF THE 2011A BONDS AND NEW CONSTRUCTION SCHEDULE K, PART IV COLUMN(A): DATE REBATE CALCULATION WAS PERFORMED - DECEMBER 27, 2017 COLUMN(B): DATE REBATE CALCULATION WAS PERFORMED - OCTOBER 13, 2018 COLUMN(B): DATE REBATE CALCULATION WAS PERFORMED - AUGUST 26, 2015 COLUMN(B): DATE REBATE CALCULATION WAS PERFORMED - MAY 31, 2016 A ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741KJ5 2019-11-05 62357358 SEE PART VI 0 0 0 B ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741DK0 2011-11-17 55889603 SEE PART VI 1 0 0 A 62891480 342450 5116643 57432387 0 0 0 1 B 9470000 14010000 55889603 388987 51255012 4245604 2013 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 X 3 525000 FMV X 103961 FMV X 86491 FMV X 8 71920 FMV X 527 19534842 FMV X 5 48330000 FMV X 5 2500 FMV X EQUIPMENT 37 901751 FMV X MISCELLANEOUS 58 865495 FMV X LIVESTOCK 24 148803 FMV X SOFTWARE 1 123796 FMV 30 0 1 1 PART I, LINE 32B: VARIOUS REAL ESTATE BROKERS ARE UTILIZED TO ASSIST WITH THE SALE OF DONATED PROPERTIES. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT AND THE FOUNDATION ACCOUNTING STAFF PROVIDE THE NECESSARY FINANCIAL AND OTHER INFORMATION TO THE FOUNDATION'S INDEPENDENT THIRD PARTY TAX CONSULTANTS. THE TAX CONSULTANTS REVIEW AND COMPILE THE INFORMATION INTO THE 990 AND 990T FORMS AND PROVIDE A DRAFT TO MANAGEMENT. MANAGEMENT AND THE ASSOCIATE VICE PRESIDENT AND CONTROLLER PERFORM A DETAILED REVIEW OF THE FORM PRIOR TO FORWARDING IT TO THE CEO FOR REVIEW. THE CEO THEN REVIEWS THE FORMS. ANY ISSUES AFTER THESE REVIEWS ARE COMMUNICATED BACK TO THE THIRD PARTY TAX CONSULTANTS. ANY ISSUES ARE CORRECTED AND ADDRESSED BY BOTH PARTIES. TWO WEEKS PRIOR TO THE FILING DEADLINE, THE FORMS ARE ELECTRONICALLY PROVIDED TO ALL MEMBERS OF THE FOUNDATION BOARD OF DIRECTORS. IF THERE ARE NO COMMENTS OR ISSUES THAT COULD NOT BE RESOLVED, THE CHIEF EXECUTIVE OFFICER THEN SIGNS THE TRANSMITTAL FORM TO PERMIT THE ELECTRONIC FILING, AS REQUIRED BY THE IRS, ON BEHALF OF THE FOUNDATION. DISCLOSURE OF THE 990 AND 990T WILL BE MADE IN FULL COMPLIANCE WITH THE REQUIREMENTS ESTABLISHED BY THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE VIRGINIA TECH FOUNDATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRES EACH MEMBER (FOUNDATION BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES (RESPONSIBLE PERSONS)) TO COMPLETE AN ANNUAL STATEMENT SETTING FORTH ANY AND ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST THAT OCCURRED DURING THE PAST FISCAL YEAR. IN ADDITION TO THE STATEMENT, AN ANNUAL COMPLIANCE QUESTIONNAIRE MUST BE COMPLETED AND SUBMITTED BY EACH MEMBER. ALSO, IF A CONFLICT SHOULD ARISE THAT WAS NOT PREVIOUSLY DISCLOSED IN THE ANNUAL STATEMENT OR THE QUESTIONNAIRE, A STATEMENT MUST BE SUBMITTED TO THE VIRGINIA TECH FOUNDATION DISCLOSING THE FACTS OF THE SITUATION. THE EXECUTIVE COMMITTEE OF THE FOUNDATION REVIEWS THE QUESTIONNAIRES AND STATEMENTS AND WILL DETERMINE IF A CONFLICT DOES ACTUALLY EXIST. THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TO AUTHORIZE APPROVE OR RATIFY THE ARRANGEMENT/TRANSACTION BASED SOLELY ON WHETHER IT IS IN THE BEST INTERESTS OF THE FOUNDATION IN PERFORMING ITS MISSION. FORM 990, PART VI, SECTION B, LINE 15A BOARD OF DIRECTORS DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. OFFICERS - EXECUTIVE VICE PRESIDENTS OFFICERS OF THE FOUNDATION ARE THE UNIVERSITY'S VICE PRESIDENT FOR ADVANCEMENT, AND CHIEF FINANCIAL OFFICER. THESE POSITIONS ARE EMPLOYED BY AND FUNDED 100% BY THE UNIVERSITY AND THEIR SALARIES AND BENEFITS ARE APPROVED BY THE UNIVERSITY'S BOARD OF VISITORS BASED UPON RECOMMENDATION BY THE UNIVERSITY PRESIDENT. THE UNIVERSITY UTILIZES VARIOUS HIGHER EDUCATION SALARY STUDIES AND DATA FROM PEER INSTITUTIONS IN ESTABLISHING SALARIES AND BENEFITS FOR THESE POSITIONS. OFFICER - CHIEF EXECUTIVE OFFICER AND SECRETARY/TREASURER SALARY AND BENEFITS FOR THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER ARE RECOMMENDED BY THE UNIVERSITY PRESIDENT AND APPROVED BY THE FOUNDATION'S COMPENSATION COMMITTEE. COMPARATIVE SALARY AND BENEFITS INFORMATION IS PROVIDED TO THE COMPENSATION COMMITTEE FOR ITS CONSIDERATION IN MAKING SALARY ADJUSTMENTS AND ESTABLISHING BENEFIT PROGRAMS. PROFESSIONAL AND CLASSIFIED STAFF IT IS THE FOUNDATION'S POLICY TO PROVIDE SALARY AND BENEFITS AS CLOSE AS PRACTIBLE TO THOSE PROVIDED TO UNIVERSITY EMPLOYEES. PROFESSIONAL AND CLASSIFIED STAFF SALARIES ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER AND INCLUDED IN THE BOARD APPROVED ANNUAL OPERATING BUDGET. COMPARATIVE DATA INCLUDING UNIVERSITY AVERAGES FOR SIMILAR POSITIONS ARE USED IN ESTABLISHING AND ADJUSTING SALARIES. MERIT ADJUSTMENTS MIRROR THE UNIVERSITY APPROVED MERIT ADJUSTMENTS EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART IX, LINE 24E MISCELLANEOUS: PROGRAM SERVICE EXPENSES 1,557,906. MANAGEMENT AND GENERAL EXPENSES 2,495,423. FUNDRAISING EXPENSES 413,715. TOTAL EXPENSES 4,467,044. MEALS & ENTERTAINMENT: PROGRAM SERVICE EXPENSES 3,156,294. MANAGEMENT AND GENERAL EXPENSES 11,228. FUNDRAISING EXPENSES 811,329. TOTAL EXPENSES 3,978,851. RIVERCOURSE: PROGRAM SERVICE EXPENSES 2,270,327. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,270,327. RADIO STATION: PROGRAM SERVICE EXPENSES 1,326,274. MANAGEMENT AND GENERAL EXPENSES 361,222. FUNDRAISING EXPENSES 334,235. TOTAL EXPENSES 2,021,731. NON MONETARY SUPPORT TO PROGRAMS: PROGRAM SERVICE EXPENSES 1,005,191. MANAGEMENT AND GENERAL EXPENSES 700,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,705,191. PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 1,120,245. MANAGEMENT AND GENERAL EXPENSES 6,882. FUNDRAISING EXPENSES 413,231. TOTAL EXPENSES 1,540,358. UNIVERSITY EQUIPMENT PURCHASES: PROGRAM SERVICE EXPENSES 1,302,226. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 87,329. TOTAL EXPENSES 1,389,555. PROFESSIONAL MEMBERSHIPS: PROGRAM SERVICE EXPENSES 308,721. MANAGEMENT AND GENERAL EXPENSES 9,076. FUNDRAISING EXPENSES 12,538. TOTAL EXPENSES 330,335. OTHER EQUIPMENT RENTALS: PROGRAM SERVICE EXPENSES 137,970. MANAGEMENT AND GENERAL EXPENSES 75. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 138,045. ANNUITY GIVING: PROGRAM SERVICE EXPENSES 31,986. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,986. TAXES: PROGRAM SERVICE EXPENSES 16,684. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,684. MAINTENANCE: PROGRAM SERVICE EXPENSES -127,460. MANAGEMENT AND GENERAL EXPENSES 3,936. FUNDRAISING EXPENSES 588. TOTAL EXPENSES -122,936. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT INTEREST AGREEMENTS 753,871. FORM 990 PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990 PART VI, LINE 16B THE FOUNDATION ADOPTED A JOINT VENTURE POLICY ON SEPTEMBER 1, 2009. THE POLICY REQUIRES THAT THE FOUNDATION EVALUATE ITS PARTICIPATION IN JOINT VENTURE AGREEMENTS UNDER FEDERAL TAX LAW AND TAKE STEPS TO SAFEGUARD THE FOUNDATION'S EXEMPT STATUS WITH RESPECT TO SUCH ARRANGEMENTS. RIVER COURSE LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 061654343 GOLF COURSE VA 1215521 8403156 VT TECHNOLOGY ASSETS LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 540721690 INFO TECH VA 661927 4873981 VTF-VEP II LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 999999999 INVESTMENTS VA 0 3000001 MAROON ASIA I LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 999999999 INVESTMENTS VA 795298 6220786 MAROON US PCC LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 999999999 INVESTMENTS VA 0 149970 ORANGE US LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 999999999 INVESTMENTS VA 0 0 VA TECH REAL ESTATE FOUNDATION INC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 541528809 PROPERTY MANAGEMENT VA 501(C)(3) LINE 12A, I 1 VIRGINIA POLYTECHNIC INST & STATE UNIVERSITY 201 SOUTHGATE CENTER BLACKSBURG VA 24061 545001805 UNIVERSITY VA 115 LINE 2 0 THE FERRARI FOUNDATION 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 EUROPEAN STUDY SZ 1 HOTEL ROANOKE LLC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 541702473 HOTEL OPERATIONS VA 0 0 VIRGINIA TECH CORPORATE RESEARCH CENTER 1715 PRATT DRIVE STE 1000 BLACKSBURG VA 24061 541324469 RENTAL VA VTF C 6980729 16035671 1.00000 1 CHARITABLE REMAINDER UNITRUSTS - 67 FUNDS 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 TRUST VA T 1 HR FOUNDATION INC 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 541702474 PROPERTY MGMT VA VTREF C 1 CHARITABLE REMAINDER ANNUITY TRUSTS - 3 FUNDS 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 TRUST VA T 0 1 1 1 1 1 1 0 0 0 0 1 1 1 0 0 1 1 1 1 VIRGINIA TECH CORPORATE RESEARCH CENTER L 565812 FMV VA TECH REAL ESTATE FOUNDATION L 532741 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER A 2166864 FMV VA TECH REAL ESTATE FOUNDATION A 6362727 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER F 450000 FMV VA TECH REAL ESTATE FOUNDATION F 405306 FMV