2018-05-10T07:39:45-05:00 2017-06-30 KPMG LLP 1676 INTERNATIONAL DRIVE McLean VA 22102 990 2016-07-01 540721690 VIRGINIA TECH FOUNDATION INC % DR JOHN E DOOLEY VIRG 5402315751 902 PRICES FORK ROAD Suite 4000 BLACKSBURG VA 24061 DR JOHN DOOLEY CEO, Sec-Treasurer 5402315751 2018-05-04 true JG White P01498698 7032868000 2018-05-02 2016 2022-09-23 18:48:47Z DR JOHN E DOOLEY 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 1499710551 false 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) 31 30 106 0 -221459 -2422458 93511227 145344518 15268058 15946437 34815051 47443083 12684619 16895073 156278955 225629111 26712640 24185771 0 0 4221623 4482190 0 0 10762310 113251837 95552438 144186100 124220399 12092855 101408712 1491192534 1705538123 435592309 501939685 1055600225 1203598438 X THE FOUNDATION RECEIVES, INVESTS, AND MANAGES PRIVATE ASSETS HELD FOR THE SUPPORT OF PROGRAMS AT VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (UNIVERSITY) AND TO FOSTER AND PROMOTE THE GROWTH, PROGESS AND GENERAL WELFARE OF THE UNIVERSITY. false false 103254001 24185771 16072429 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. FOR MORE INFORMATION, SEE SCHEDULE O. 103254001 true true false true false false false true false true true true false true true true false true false true true false false false false false false true false true true false false false false false false false false false false true true false false true true true true false false true X 333 0 true 106 true true true true SG SZ false false false true true true 2 false false true false X 31 30 false false false false false false false true true false false true true true true true true true false true true VA X DR JOHN E DOOLEY 5402315751 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 X NANCY H AGEE BOARD MEMBER 2.0 0.0 X 0 0 0 JAMES L CHAPMAN IV BOARD MEMBER 2.0 0.0 X 0 0 0 MARY BLACKWOOD BOARD MEMBER 2.0 0.0 X 0 0 0 SANDRA C DAVIS CHAIRMAN 2.0 0.0 X X 0 0 0 DR AMY B HAYES BOARD MEMBER 2.0 0.0 X 0 0 0 GREGORY J HERREMA BOARD MEMBER 2.0 0.0 X 0 0 0 DAVID L CALHOUN BOARD MEMBER 2.0 0.0 X 0 0 0 GEORGE B CLARKE IV BOARD MEMBER 2.0 0.0 X 0 0 0 DENNIS A DUNCAN BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN C FERNANDO BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN C LEE IV BOARD MEMBER 2.0 0.0 X 0 0 0 THEODORE S HANSON BOARD MEMBER 2.0 0.0 X 0 0 0 DARRELL D MARTIN BOARD MEMBER 2.0 0.0 X 0 0 0 LEONARD P HARRIS BOARD MEMBER 2.0 0.0 X 0 0 0 ROBERT D MOSER JR BOARD MEMBER 2.0 0.0 X 0 0 0 RYAN D LEWELLYN BOARD MEMBER 2.0 0.0 X 0 0 0 JEFFREY C HARTMAN BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN R LAWSON II BOARD MEMBER 2.0 0.0 X 0 0 0 NANCY R LITTLE BOARD MEMBER 2.0 0.0 X 0 0 0 JAMES A PEARSON BOARD MEMBER 2.0 0.0 X 0 0 0 BRANDON D PERRY BOARD MEMBER 2.0 0.0 X 0 0 0 FAY H STREET BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN B ROWSELL BOARD MEMBER 2.0 0.0 X 0 0 0 WINSTON A SAMUELS BOARD MEMBER 2.0 0.0 X 0 0 0 DEBORAH A KOLLER BOARD MEMBER 2.0 0.0 X 0 0 0 DR TIMOTHY D SANDS BOARD MEMBER 2.0 38.0 X 0 537884 294646 PRISCILLA MCCALL BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN A URQUHART JR BOARD MEMBER 2.0 0.0 X 0 0 0 DR A CAROLE PRATT BOARD MEMBER 2.0 0.0 X 0 0 0 JAMES R SMITH BOARD MEMBER 2.0 0.0 X 0 0 0 WILLIAM HANSON WEST JR BOARD MEMBER 2.0 0.0 X 0 0 0 CHARLES D PHLEGAR EXECUTIVE VICE PRESIDENT 2.0 38.0 X 0 655023 120528 M DWIGHT SHELTON JR EXECUTIVE VICE PRESIDENT 2.0 38.0 X 0 331915 65756 DR JOHN E DOOLEY CEO and SECRETARY TREASURER 30.0 10.0 X 361950 0 14309 JOHN CUSIMANO UNIVERSITY TREASURER 20.0 20.0 X 46019 239986 49025 DANIEL WARD DIRECTOR OF INVESTMENTS 40.0 0.0 X 509127 0 24221 KEVIN SULLIVAN AVP FOR ADMIN & GEN COUNSEL 40.0 0.0 X 197000 0 23810 TERRI T MITCHELL AVP FOR ADMIN & CONTROLLER 40.0 0.0 X 192533 0 9501 EBENHARD STODDARD SENIOR INVESTMENT ANALYST 40.0 0.0 X 207801 0 23644 BRYAN BOEHLING SENIOR INVESTMENT ANALYST 40.0 0.0 X 123423 0 29667 JACOB HARDWICK DIRECTOR OF GOLF OPERATIONS 40.0 0.0 X 123850 0 20498 1761703 1764808 675605 10 false true false BLACKBAUD PO BOX 930256 ATLANTA GA 311930256 ONLINE SERVICES 1206873 THE SNYDER COMPANY INC 500 S MAIN STREET BLACKSBURG VA 24060 RENOVATION SERVICES 1313105 UNCORK-IT LLC 1971 KRAFT DR SUITE 2600 BLACKSBURG VA 24060 PRINT SVC & WEB DES 449765 SIEMENS PO BOX 14381 PALATINE IL 60055 EQUIP& INST SVC 495334 ARTISAN PARTNERS LIMITED PARTNERSHI 875 E WISCONSIN AVE STE 800 MILWAUKEE WI 53202 INVESTMENT MGMT SVC 435364 26 254667 145089851 22484720 145344518 AFFILIATE MEMBERSHIP PROGRAM 900099 6672839 6672839 DEVELOPMENT & MANAGEMENT ENDOWMENT FEES 900099 1494053 1494053 SALES 900099 934648 934648 PROPERTY MANAGEMENT FEES 900099 504615 504615 VT SERVICES SURPLUS 900099 362000 362000 5978282 5978282 15946437 18174999 -1614492 18174999 10467 10467 267933 267933 21953506 12725297 9228209 0 9228209 124892 9103317 1290234007 266914 1260899504 343800 29334503 -76886 29257617 29257617 0 0 0 0 0 0 167326 112839 54487 54487 OTHER INV INCOME - 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TRUSTS HELD BY OTHERS 7769903 COLLECTION ITEMS 5676473 DUE FROM SUBSIDIARIES 1565989 TRUST INVESTMENT RECEIVABLE 54397019 PATENT 106500 DUE FROM PARENT CORP 283601 101691810 0 AGENCY DEPOSITS HELD IN TRUST 204154284 TRUST PAYMENT LIABILITIES 21042738 THIRD PARTY TRUST OBLIGATIONS 9197539 ANNUITY OBLIGATIONS 6543007 240937568 X 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 POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. SCHEDULE D, PART V, LINE 4 ENDOWMENT FUNDS THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 3,550 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. SCHEDULE D, PART X INCOME TAXES 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 2014 THROUGH 2017 TAX YEARS Europe (Including Iceland and Greenland) 1 Program Services RENT 282459 Sub-Saharan Africa Program Services education 775574 North America Investments 359348096 1 1 360406129 360406129 true false true true true false true VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 150 STUDENT SERVICES BUILDING BLACKSBURG VA 24061 546001805 115 24185771 SCHOLARSHIPS 1 SCHEDULE I, PART I, LINE 2 SCHOLARSHIPS THE FOUNDATION MAKES GRANTS TO PROVIDE SCHOLARSHIPS TO STUDENTS OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). X X X X X false false false true false false false false false CHARLES D PHLEGAR EXECUTIVE VICE PRESIDENT 0 645023 0 0 0 10000 0 89590 0 30938 0 775551 0 0 M DWIGHT SHELTON JR EXECUTIVE VICE PRESIDENT 0 331915 0 0 0 0 0 45787 0 19969 0 397671 0 0 DR JOHN E DOOLEY CEO and SECRETARY TREASURER 361950 0 0 0 0 0 11390 0 2919 0 376259 0 0 0 DR TIMOTHY D SANDS BOARD MEMBER 0 517884 0 0 0 20000 0 264467 0 30179 0 832530 0 0 JOHN CUSIMANO UNIVERSITY TREASURER 0 239986 46019 0 0 0 25418 0 23607 46019 289011 0 0 KEVIN SULLIVAN AVP FOR ADMIN & GEN COUNSEL 197000 0 0 0 0 0 4700 0 19110 0 220810 0 0 0 TERRI T MITCHELL AVP FOR ADMIN & CONTROLLER 192533 0 0 0 0 0 7719 0 1782 0 202034 0 0 0 EBENHARD STODDARD SENIOR INVESTMENT ANALYST 156964 0 50837 0 0 0 4144 0 19500 0 231445 0 0 0 DANIEL WARD DIRECTOR OF INVESTMENTS 343312 0 165815 0 0 0 3881 0 20340 0 533348 0 0 0 BRYAN BOEHLING SENIOR INVESTMENT ANALYST 123423 0 0 0 0 0 22496 0 7171 0 153090 0 0 0 SCHEDULE J, PART I, LINE 5A The Foundations Investment Management staff are eligible to receive bonuses of up to 100% of base salary based on the Foundations 3 year endowment performance and ranking. The bonus program was reviewed by the Investment Committee of the Foundations Board of Directors, and the bonus awards are approved by the Chief Executive Officer and Secretary Treasurer and paid from the Foundations endowment annually. A ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741BN6 2010-08-26 57123909 SEE PART VI true false false B ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741DK0 2011-11-17 55889603 SEE PART VI true false false A 7839994 44190000 57123909 0 0 0 501809 0 0 0 56622000 0 2010 true false true true B 50300 14515000 55889603 0 0 0 388987 0 0 51255012 4245604 0 2013 true false true true A false false true true false 0.00000 0.00000 0.00000 false false false true B false false false false 0.00000 0.00000 0.00000 false false false true A false false true true false false 0 false 0 false true B false false false true false false 0 false 0 false true A true B true SCHEDULE K, PART I, COLUMN (A) SCHEDULE K, PART I, BOND ISSUES: SERIES 2010A BOND ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY DESCRIPTION OF PURPOSE: Refund portions of the Series 2005, Series 2009A and 2009B bonds and finance cost of issuance of the 2010A bonds. SERIES 2011A BOND ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY 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. SERIES 2012 BOND ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY DESCRIPTION OF PURPOSE: REFUND A PORTION OF THE SERIES 2005 BONDS SERIES 2013 BOND ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY DESCRIPTION OF PURPOSE: FINANCING NEW CONSTRUCTIONS FOR VARIOUS PROJECTS. SERIES 2017A BOND ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY 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 ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY DESCRIPTION OF PURPOSE: Refund portions of the Series 2005 and 2009A bonds and finance the cost of issuance. SCHEDULE K, PART IV SERIES 2010A Bond: Date rebate calculation was performed August 26, 2015 SERIES 2011A Bond: Date rebate calculation was performed May 31, 2016 SERIES 2012 Bond: Date rebate calculation was performed December 27, 2017 A ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 999999999 2012-12-27 4365000 SEE PART VI false false false B ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741EN3 2013-10-30 18650559 SEE PART VI false false false C ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 613741651 2017-05-17 41889983 SEE PART VI false false false D ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY 541643441 999999999 2017-05-17 23750000 SEE PART VI false false false A 2049344 0 4365000 0 0 0 0 0 0 0 4365000 0 2007 true false true true B 1950000 0 18650559 0 0 0 219381 0 0 18431178 0 0 2015 false false false true C 0 0 41889983 0 0 37810092 275025 0 0 0 3804099 0 2017 true true true true D 0 0 23750000 0 0 0 75000 0 0 0 23675000 0 2017 true false true true A false false false false 0.00000 0.00000 0.00000 true false false true B false false false false 0.00000 0.00000 0.00000 true false false true C false false true true true true 0.00000 0.00000 0.00000 true false false true D false false false false 0.00000 0.00000 0.00000 true false false true A false false true true false false 0 false 0 false true B false true false false 0 false 0 false true C false true false false 0 false 0 false true D false true false false 0 false 0 false true A true B true C true D true X 6 30150 FMV X 2253 X 135482 FMV X 4 16537 FMV X 436 15484354 FMV X 4 571500 FMV X 7 10500 FMV X 6 11693 X Livestock 24 810449 FMV X Equipment 14 1218562 FMV X Misc 133 338580 FMV X Software 3 3854660 FMV 28 false true true SCHEDULE M, LINE 32A VARIOUS REAL ESTATE BROKERS ARE UTILIZED TO ASSIST WITH THE SALE OF DONATED PROPERTIES. FORM 990 PART III, LINE 4A IN ADDITION, THE FOUNDATION MANAGES VIRGINIA TECH'S ENDOWMENT, THROUGH WHICH DONORS TO THE UNIVERSITY MAKE A SIGNIFICANT DIFFERENCE TO THE FACULTY AND STUDENTS. THE FOUNDATION IS ALSO A RESPONSIBLE CORPORATE CITIZEN. AS SUCH, THE FOUNDATION DEPLOYS CAPITAL IN WAYS THAT SERVE THE INTERESTS NOT ONLY OF THE UNIVERSITY, BUT ALSO OF ITS REGION. FORM 990 PART VI, LINE 11B REVIEW OF FORM 990 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 LINE 12C CONFLICT OF INTEREST POLICY 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, LINE 15 BOARD OF DIRECTORS DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. OFFICERS - EXECUTIVE VICE PRESIDENTS EXECUTIVE VICE PRESIDENTS 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, LINE 16B JOINT VENTURE 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. FORM 990 PART XI, LINE 9 CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS..............$27,203 LOSS ON EXTINGUISHMENT OF DEBT............................($5,266,456) ROUNDING..........................................................$30 Total.....................................................($5,239,223) FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MEALS AND ENTERTAINMENT TOTAL EXPENSES:3874593 PROGRAM SERVICES:3221472 MANAGEMENT AND GENERAL:21908 FUNDRAISING:631213 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PUBLIC RELATIONS TOTAL EXPENSES:1813165 PROGRAM SERVICES:1528192 MANAGEMENT AND GENERAL:8062 FUNDRAISING:276911 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:RADIO STATION TOTAL EXPENSES:1498721 PROGRAM SERVICES:864973 MANAGEMENT AND GENERAL:343483 FUNDRAISING:290265 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MISCELLANEOUS TOTAL EXPENSES:2528005 PROGRAM SERVICES:2219106 MANAGEMENT AND GENERAL:31455 FUNDRAISING:277444 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:UNIVERSITY EQUIPMENT PURCHASE TOTAL EXPENSES:2036456 PROGRAM SERVICES:1991649 FUNDRAISING:44807 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:RIVERCOURSE TOTAL EXPENSES:1963754 PROGRAM SERVICES:758155 MANAGEMENT AND GENERAL:1205599 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MAINTENANCE TOTAL EXPENSES:539270 PROGRAM SERVICES:511967 MANAGEMENT AND GENERAL:1202 FUNDRAISING:26101 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PROFESSIONAL MEMBERSHIPS TOTAL EXPENSES:298083 PROGRAM SERVICES:264344 MANAGEMENT AND GENERAL:15292 FUNDRAISING:18447 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:OTHER EQUIPMENT RENTALS TOTAL EXPENSES:207748 PROGRAM SERVICES:134768 MANAGEMENT AND GENERAL:1698 FUNDRAISING:71282 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ANNUITY DEFERRED GIVING TOTAL EXPENSES:31986 PROGRAM SERVICES:31986 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:TAXES TOTAL EXPENSES:27660 PROGRAM SERVICES:27660 RIVER COURSE LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 061654343 GOLF COURSE VA 1348149 9675567 NA VA TECH BUS TECH CENTER LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 540567560 BUS ASSIST VA 0 0 NA VT TECHNOLOGY ASSETS LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 540721690 INFO TECH VA 16634 5209963 NA VA TECH REAL ESTATE FOUNDATION INC 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 541528809 PROPERTY MGMT VA 501 (C) (3) 12A TYPE I NA true VIRGINIA POLYTECHNIC INST & STATE UNIV 201 SOUTHGATE CENTER BLACKSBURG VA 24061 545001805 UNIVERSITY VA 501 (C) (3) 2 NA false THE FERRARI FOUNDATION 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 EUROPEAN STUD SZ NA true HOTEL ROANOKE LLC 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 541702473 HOTEL OPERATIONS VA NA VIRGINIA TECH CORPORATE RESEARCH CENTER 1715 PRATT DRIVE SUITE 1000 BLACKSBURG VA 24061 541324469 RENTAL VA VTF C Corp 6609180 15271848 1.00000 true CHARITABLE REMAINDER UNITRUSTS 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 TRUST VA NA Trust true HR FOUNDATION INC 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 541702474 PROPERTY MGMT VA VTREF C Corp true true true true true false true false false false false true true true false false true true true false VIRGINIA TECH CORPORATE RESEARCH CENTER L 494472 FMV VIRGINIA TECH REAL ESTATE FOUNDATION L 388034 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER a(iv) 1724555 FMV VIRGINIA TECH REAL ESTATE FOUNDATION a(iv) 389437 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER L 55750 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER a(i) 278234 FMV VIRGINIA TECH REAL ESTATE FOUNDATION a(i) 4021746 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER a(i) 111714 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER f 450000 FMV VIRGINIA TECH REAL ESTATE FOUNDATION R 1143664 FMV