2025-09-13T10:18:25-05:00 2024-12-31 540618213 HANTZMON WIEBEL LLP PO BOX 1408 CHARLOTTESVILLE VA 22902 990 2024-01-01 540517188 VIRGINIA STUDENT AID FOUNDATION INC VIRG 4349825555 PO BOX 400833 CHARLOTTESVILLE VA 229044833 KYLE RAE CHIEF FINANCIAL OFFICER 4349825555 2025-09-04 1 0 MONTE J GLANZER P01301538 4342962156 2024 2025-03-06 01:10:19Z VIRGINIA ATHLETICS FOUNDATION KYLE RAE PO BOX 400833 CHARLOTTESVILLE VA 229044833 53960139 0 X WWW.VIRGINIAATHLETICSFOUNDATION.COM X 1949 VA THE VIRGINIA ATHLETICS FOUNDATION, THROUGH ITS FUND-RAISING EFFORTS, STRIVES TO SUPPORT A PREEMINENT INTERCOLLEGIATE ATHLETICS PROGRAM AT THE UNIVERSITY OF VIRGINIA BY PROVIDING STUDENT-ATHLETES THE OPPORTUNITY TO ACHIEVE ACADEMIC AND ATHLETIC EXCELLENCE. 27 26 34 26 0 0 57560083 47385256 1404349 1995333 533630 706178 218646 169711 59716708 50256478 42861426 38651681 0 0 3280841 3550400 0 0 2965479 2786660 2791295 48928927 44993376 10787781 5263102 169536214 184583130 2499188 3176527 167037026 181406603 THE VIRGINIA ATHLETICS FOUNDATION, THROUGH ITS FUND-RAISING EFFORTS, STRIVES TO SUPPORT A PREEMINENT INTERCOLLEGIATE ATHLETICS PROGRAM AT THE UNIVERSITY OF VIRGINIA BY PROVIDING STUDENT-ATHLETES THEOPPORTUNITY TO ACHIEVE ACADEMIC AND ATHLETIC EXCELLENCE. 0 0 22596239 22549992 THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE FUNDING FOR SCHOLARSHIPS FOR STUDENT ATHLETES. IN 2024, 10,152 DONORS TO THE FOUNDATION, INCLUDING FORMER STUDENT-ATHLETES,PARENTS, ALUMNI, FANS, AND BUSINESSES WHO RECOGNIZE THE VALUE OF THE INTERCOLLEGIATE ATHLETICS EXPERIENCE AT THE UNIVERSITY OF VIRGINIA, ENTHUSIASTICALLY PROVIDE SUPPORT IN A VARIETY OF WAYS. THROUGH ITSFUND-RAISING EFFORTS, THE FOUNDATION PROVIDES THE MAXIMUM FUNDING FOR ALL 316.6 SCHOLARSHIPS ALLOWED FOR 25 OF THE 27 TEAMS SANCTIONED BY THE NCAA AT THE UNIVERSITY. SCHOLARSHIPS FOR THE MEN'S AND WOMEN'S SQUASH TEAMS ARE FUNDED BY A UNIV ENDOWMENT PROVIDED BY A GENEROUS DONOR. TODAY, THERE ARE APPROX 750 TUDENT-ATHLETES PARTICIPATING IN 27 INTERCOLLEGIATE PROGRAMS AT THE UNIVERSITY. 16307429 16101689 THE FOUNDATION RAISES FUNDS ON BEHALF OF THE UNIVERSITY OF VIRGINIA TO FINANCE THE RENOVATION OF EXISTING ATHLETICS FACILITIES AND THE CONSTRUCTION OF NEW ATHLETICS FACILITIES AS IDENTIFIED AND APPROVED BY THE UNIVERSITY. THE FOUNDATION ALSO PROVIDES FUNDING TO ENHANCE THE OPERATIONAL BUDGETS OF VARIOUS SPORTS AT THE UNIVERSITY. THESE COSTS ARE DETERMINED IN COORDINATION WITH THE UNIVERSITY ATHLETICS DEPARTMENT IN IDENTIFYING STRATEGIC PRIORITIES. ADDITIONALLY, DONATIONS MADE TO THE FRIENDS OF PROGRAM ARE DESIGNATED BY DONORS TO SPECIFIC SPORTS AMONG THE 14 WOMEN'S AND 13 MEN'S VARSITY SPORTS AT THE UNIVERSITY. 865161 746898 TTHE FOUNDATION PROVIDES INFORMATIONAL SERVICES TO ITS MEMBERS AND TO THE GENERAL PUBLIC. IN ADDITION,IT PROVIDES ANCILLARY SUPPORT TO THE ATHLETICS PROGRAMS OF THE UNIVERSITY OF VIRGINIA. 39768829 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 35 0 1 34 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 26 0 0 0 0 0 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 AK AR CA MS KY ME MD MA MI MN NH NJ NY OH OK OR RI SC UT WA WV WI X FOUNDATION OFFICE 4349825555 PO BOX 400833 CHARLOTTESVILLE VA 229044833 KEVIN J MILLER EXEC DIRECTOR, SEC/TREAS 40.00 X X 493617 0 51703 RACHEL W SHERIDAN PRESIDENT 1.00 X X 0 0 0 MARVIN P BUSH VICE PRESIDENT 1.00 X X 0 0 0 MIA MOONEY BASS TRUSTEE 1.00 X 0 0 0 EDMUND N DURDEN TRUSTEE 1.00 X 0 0 0 W HEYWOOD FRALIN TRUSTEE 1.00 X 0 0 0 MICHAEL S GEISMAR TRUSTEE 1.00 X 0 0 0 MARVIN W GILLIAM JR TRUSTEE 1.00 X 0 0 0 RALEIGH ANNE GRAY TRUSTEE 1.00 X 0 0 0 KATHERINE L HEILPERN MD TRUSTEE 1.00 X 0 0 0 YUSEF D JACKSON TRUSTEE 1.00 X 0 0 0 LAUREN LACY TRUSTEE 1.00 X 0 0 0 MARK M LUELLEN TRUSTEE 1.00 X 0 0 0 RICHARD L BOOTH TRUSTEE 1.00 X 0 0 0 VALERIE CAMILLO TRUSTEE 1.00 X 0 0 0 DOUG DUENKEL TRUSTEE 1.00 X 0 0 0 FRANKLIN S EDMONDS TRUSTEE 1.00 X 0 0 0 HERMAN MOORE TRUSTEE 1.00 X 0 0 0 TIM NAUGHTON TRUSTEE 1.00 X 0 0 0 JULIANA S O'REILLY TRUSTEE 1.00 X 0 0 0 CRAIG PACKER TRUSTEE 1.00 X 0 0 0 BARRY L PARKHILL TRUSTEE 1.00 X 0 0 0 ANDREW PESKIN TRUSTEE 1.00 X 0 0 0 JILL ROYSTER TRUSTEE 1.00 X 0 0 0 ANNE CARTER SMITH TRUSTEE 1.00 X 0 0 0 A WELLFORD TABOR TRUSTEE 1.00 X 0 0 0 ASHLEY WIDGER TRUSTEE 1.00 X 0 0 0 CARLA WILLIAMS TRUSTEE 1.00 X 0 0 0 DONNA G MAHAN CHIEF FINANCIAL OFFICER 40.00 X 180839 0 41089 MICHAEL T KERSEY CHIEF OPERATING OFFICER 40.00 X 213194 0 43893 HEATHER L TROUDT SENIOR MAJOR GIFTS OFFICER 40.00 X 175202 0 25420 DREW OSSAKOW SENIOR MAJOR GIFTS OFFICER 40.00 X 144823 0 21501 RYAN P WEIGAND SENIOR DIRECTOR OF DEVELOPMENT 40.00 X 128948 0 27118 JESSIC F ARMISTEAD SENIOR DIRECTOR OF DONOR EXPIRIENCES 40.00 X 118030 0 30045 NICOLE DEUEL SENIOR DIRECTOR OF MARKETING AND COMMUNICATIONS 40.00 X 110849 0 29823 1565502 0 270592 9 0 1 0 UNIVERSITY OF VIRGINIA INVESTMENT MNGT 701 E WATER ST 4TH FLOOR CHARLOTTESVILLE VA 22902 INVESTMENT MANAGEMENT 187586 CARD CONNECT 1000 CONTINENTAL DR STE 300 KING OF PRUSSIA PA 19406 CREDIT CARD PROCESSOR 186754 MCGUIRE WOODS LLP 800 E CANAL STREET RICHMOND VA 23219 LEGAL SERVICES 108169 3 47385256 1581032 47385256 PARKING LOT REVENUE 812930 1248435 1248435 OTHER PGM SVC REVENUE 900099 746898 746898 1995333 666459 666459 136605 136605 3735841 3696122 39719 39719 39719 40645 7539 33106 33106 50256478 746898 0 2124324 38651681 38651681 974380 101199 690836 182345 1919857 206647 447942 1265268 158542 17470 39871 101201 302314 33104 91062 178148 195307 21165 74862 99280 108169 108169 46000 46000 187586 187586 50000 50000 904498 681895 222603 139450 2114 104918 32418 82985 8299 24895 49791 242132 24213 217919 11393 11393 35989 35989 CAPITAL CAMPAIGN COSTS 411203 38618 372585 STEWARDSHIP COSTS 264963 21042 243921 CREDIT CARD PROCESSING 216307 216307 MISCELLANEOUS 47322 47322 43298 43298 44993376 39768829 2259068 2965479 16926165 20163596 54854745 60322063 539706 20548 65597 49774 20439 15823 89774821 95705083 7420338 8356017 169536214 184583130 305977 276126 2193211 2900401 2499188 3176527 X 16430187 15781388 150606839 165625215 167037026 181406603 169536214 184583130 X 5263102 8958475 148000 X X 0 1 X 1 0 X 32751716 43818725 43708164 57560083 47385256 225223944 56000 57000 59000 63000 65000 300000 32807716 43875725 43767164 57623083 47450256 225523944 30502185 195021759 433531 430027 401090 660774 803064 2728486 228252430 6251076 0.85440 0.81640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 89774821 2497040 8958475 5337667 187586 95705083 89507034 2097050 4178931 5800000 208194 89774821 104638200 438068 -9257295 6090000 221939 89507034 89342515 9900261 25880161 20242872 241865 104638200 76330575 805531 16918213 4510660 201144 89342515 0.18243 0.54150 0.27607 1 0 65597 49774 15823 15823 4,872.7473 SHS UVIMCO LONG-TERM POOL 95705083 F 95705083 REFUNDABLE DEPOSITS 274792 DUE TO THE UNIVERSITY OF VIRGINIA 2625609 2900401 X 59228187 8958475 85000 148000 9191475 50036712 187586 32180 219766 50256478 44858610 85000 85000 44773610 187586 32180 219766 44993376 PART V, LINE 4: THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENTS ESTABLISHED FOR ATHLETIC SCHOLARSHIPS AND OPERATIONAL USES AS WELL AS FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE FOUNDATION BOARD AUTHORIZES SPENDING FROM THE ENDOWMENT ANNUALLY AS PART OF THE FOUNDATION'S BUDGET APPROVAL PROCESS AND IN ACCORDANCE WITH THE FOUNDATION'S ENDOWMENT SPENDING POLICY. DISTRIBUTIONS ARE USED TO FUND ATHLETIC SCHOLARSHIPS OR OPERATIONAL SUPPORT TO FURTHER UNIVERSITY ATHLETIC OPERATIONS ACCORDING TO DONOR STIPULATIONS OR THE ABSENCE THEREOF. PART X, LINE 2: THE FOUNDATION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FASB AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE FOUNDATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF REMAINDER TRUSTS 148,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED AGAINST REVENUE ON FORM 990 32,180. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED AGAINST REVENUE ON FORM 990 32,180. PART V, LINE 3 ENDOWMENT FUNDS THE FOUNDATION'S ENDOWMENT FUNDS ARE HELD AND INVESTED BY THE UNIVERSITY OF VIRGINIA INVESTMENT MANAGEMENT COMPANY (UVIMCO). THE FOUNDATION'S BOARD AUTHORIZES ANNUAL SPENDING FROM THE ENDOWMENT FUNDS. GOLF TOURNAMENT 40645 40645 983 500 5721 335 40645 40645 983 500 5721 335 7539 33106 1 THE UNIVERSITY OF VIRGINIA PO BOX 400222 CHARLOTTESVILLE VA 22904 546001796 501(C)(3) 22549992 0 STUDENT ATHLETE SCHOLARSHIPS AND ACADEMIC AFFAIRSSTUDENT ATHLETE SCHOLARSHIPS AND ACADEMIC AFFAIRS THE UNIVERSITY OF VIRGINIA PO BOX 400222 CHARLOTTESVILLE VA 22904 546001796 501(C)(3) 10828559 0 ATHLETIC FACILITIES CAPITAL IMPROVEMENTS SUPPORT THE UNIVERSITY OF VIRGINIA PO BOX 400222 CHARLOTTESVILLE VA 22904 546001796 501(C)(3) 5044630 228500 OTHER VEHICLE USAGE AND EVENTS SUPPORT ATHLETICS OPERATIONAL SUPPORT 1 PART I, LINE 2: THE FOUNDATION MAKES GRANTS TO THE UNIVERSITY OF VIRGINIA FOR ATHLETIC SCHOLARSHIPS AND ACADEMIC AFFAIRS ASSISTANCE TO INDIVIDUAL STUDENT ATHLETES. THE UNIVERSITY AWARDS THE MAXIMUM FUNDING ALLOWED BY NCAA FOR ATHLETIC SCHOLARSHIPS AND REPORTS THESE TO THE FOUNDATION. THE FOUNDATION FUNDS 100% OF THESE SCHOLARSHIPS FOR 25 SPORTS. THE UNIVERSITY ALSO REPORTS TO THE FOUNDATION THE DETAILED EXPENDITURE OF FUNDS USED FOR ACADEMIC AFFAIRS, OTHER OPERATIONAL SUPPORT, AND CAPITAL IMPROVEMENTS. X X 1 1 X X 0 0 0 0 0 0 0 0 0 KEVIN J MILLER EXEC DIRECTOR, SEC/TREAS 345000 0 80154 0 68463 0 26311 0 25392 0 545320 0 6004 0 MICHAEL T KERSEY CHIEF OPERATING OFFICER 187000 0 23086 0 3108 0 18493 0 25400 0 257087 0 9996 0 DONNA G MAHAN CHIEF FINANCIAL OFFICER 158000 0 19434 0 3405 0 15689 0 25400 0 221928 0 8374 0 HEATHER L TROUDT SENIOR MAJOR GIFTS OFFICER 155000 0 17780 0 2422 0 16548 0 8872 0 200622 0 6930 0 DREW OSSAKOW SENIOR MAJOR GIFTS OFFICER 128000 0 15835 0 988 0 12629 0 8872 0 166324 0 6875 0 RYAN P WEIGAND SENIOR DIRECTOR OF DEVELOPMENT 113000 0 12946 0 3002 0 7550 0 19568 0 156066 0 5040 0 X 295 3735841 FMV(MEAN)DATE RECEIVED X VEHICLE USAGE 34 228500 DONOR BENEFITS RECEI 0 0 1 1 PART I, COLUMN (B): NUMERIC ENTRIES IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS MADE. PART I, LINE 32B: THE FOUNDATION USES THE SERVICES OF THIRD PARTY BROKERS TO IMMEDIATELY SELL DONATED PUBLICLY-TRADED STOCK UPON RECEIPT OF SUCH STOCK. PART I, LINE 33: THE FOUNDATION REPORTED 137 CONTRIBUTIONS OF PUBLICLY TRADED SECURITIES IN SATISFACTION OF PRIOR YEAR PLEDGES THAT WERE REPORTED AS CONTRIBUTIONS IN A PRIOR YEAR. THESE SECURITIES WERE VALUED AT $2,383,309. FORM 990, PART VI, SECTION A, LINE 7A FOUR UNIVERSITY OF VIRGINIA REPRESENTATIVES ARE APPOINTED AS FOLLOWS: ONE DESIGNATED BY THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA, ONE APPOINTED BY THE PRESIDENT OF THE UNIVERSITY, THE DIRECTOR OF ATHLETICS OF THE UNIVERSITY, AND ONE APPOINTED BY THE DIRECTOR OF ATHLETICS OF THE UNIVERSITY SHALL BE EX-OFFICIO VOTING MEMBERS OF THE BOARD. THE PRESIDENT OF THE BOARD OF TRUSTEES OF THE FOUNDATION MAY APPOINT EX-OFFICIO NON-VOTING MEMBERS FOR ONE-YEAR TERMS, NOT TO EXCEED 3 SUCCESSIVE TERMS. FORM 990, PART VI, SECTION A, LINE 7B THE FOUNDATION MUST SUBMIT FOR APPROVAL TO THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA FOR ANY NEW PROPOSED BUSINESS VENTURE OR SUBSTANTIAL CHANGE IN THE NATURE OF THE FOUNDATION, FOR THE PURCHASE OF REAL ESTATE OR FOR ANY MATERIAL DEBT TO BE INCURRED FOR PERMANENT OR WORKING CAPITAL. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION ANSWERED "NO" BECAUSE THERE WERE NO MINUTES MAINTAINED FOR ANY BOARD COMMITTEE MEETINGS DURING THE YEAR, INCLUDING MEETINGS OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE PRELIMINARY DRAFT OF FORM 990 IS REVIEWED BY THE FOUNDATION'S OFFICERS AND THE MEMBERS OF THE AUDIT AND OVERSIGHT COMMITTEE OF THE BOARD PRIOR TO FILING. UPON APPROVAL BY THE AUDIT AND OVERSIGHT COMMITTEE, THE PRELIMINARY DRAFT OF THE 990 IS MADE AVAILABLE TO ALL FOUNDATION BOARD MEMBERS FOR FURTHER REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A LISTING OF ALL VENDORS AND INDIVIDUALS WITH WHOM THE FOUNDATION HAS TRANSACTED BUSINESS WITH DURING THE YEAR IS PROVIDED TO TRUSTEES, OFFICERS, AND EMPLOYEES. ON AN ANNUAL BASIS, ALL TRUSTEES AND EMPLOYEES WITH AUTHORITY MAKE A WRITTEN DISCLOSURE REGARDING CONFLICTS OF INTEREST. COMPLETED FORMS ARE REVIEWED TO DETERMINE APPROPRIATE RESOLUTION AS DETERMINED BY THE EXECUTIVE DIRECTOR OR TRUSTEES, AS APPLICABLE. IN ADDITION, ALL REAL OR APPARENT CONFLICTS ARE TO BE DISCLOSED AND RESOLVED BY THE EXECUTIVE DIRECTOR AND, DEPENDING ON THE PARTY INVOLVED, THE OVERSIGHT COMMITTEE OR BOARD PRESIDENT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S SALARY IS CONSIDERED DURING THE ANNUAL PERFORMANCE EVALUATION BY THE EXECUTIVE COMMITTEE APPOINTED BY THE BOARD OF TRUSTEES. THE COMMITTEE CONSIDERS FEEDBACK, GOALS, USE OF DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS AT PEER INSTITUTIONS, AND REVIEW WITH THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 18 THE FOUNDATION'S APPLICATION FOR RECOGNITION OF EXEMPTION WAS MADE PRIOR TO JULY 15, 1987; THEREFORE, FORM 1023 IS NOT APPLICABLE. NAMES AND ADDRESSES OF CONTRIBUTORS ARE NOT AVAILABLE FOR PUBLIC INSPECTION. IRS FORM 990 IS MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FEDERAL TAX LAW DOES NOT REQUIRE THAT SUCH DOCUMENTS BE MADE PUBLICLY AVAILABLE UNLESS THEY ARE INCLUDED ON A FORM THAT IS PUBLICLY AVAILABLE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF REMAINDER TRUSTS 148,000. FORM 990, SECTION XII, LINE 2C NO CHANGE FROM THE PRIOR YEAR'S PROCESS. THE AUDIT AND OVERSIGHT COMMITTEE OF THE FOUNDATION'S BOARD OF TRUSTEES ASSUMES RESPONSIBILITY OF OVERSIGHT FOR THE ANNUAL FINANCIAL STATEMENT AUDIT. FORM 990, SECTION XI, LINE 5 RECONCILIATION OF CHANGE IN NET ASSETS THE FOUNDATION INVESTS IN A "POOLED INCOME FUND" ADMINISTRATED BY UVIMCO, A 501(C)(3) ORGANIZATION. THE FOUNDATION INVESTS IN UNITS WHICH ARE ADJUSTED TO MARKET VALUE ON A PERIODIC BASIS. GAINS AND LOSSES ARE DETERMINED TO BE UNREALIZED BASED ON CHANGES IN SUCH UNIT VALUES. CHARITABLE REMAINDER TRUSTS (20) INVESTMENTS VA VIRGINIA STUDENT AID FOUNDATION INC 0 CHARITABLE REMAINDER TRUST (1) INVESTMENTS SC VIRGINIA STUDENT AID FOUNDATION INC 0 CHARITABLE REMAINDER TRUST (1) INVESTMENTS FL VIRGINIA STUDENT AID FOUNDATION INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0