VIRGINIA COMMONWEALTH UNIVERSITY SCHOOL OF BUSINESS FOUNDATION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA COMMONWEALTH UNIVERSITY SCHOOL OF BUSINESS FOUNDATION (EIN 20-2661802)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2012-11-13
- IRS object ID
- 201223189349303207
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-11-13T13:42:42-06:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540565834 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MITCHELL WIGGINS & COMPANY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1802 BAYBERRY COURT SUITE 300 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 23226 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 202661802 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA COMMONWEALTH UNIVERSITY | BusinessNameLine1 |
| Business Name Line2 | SCHOOL OF BUSINESS FOUNDATION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | VIRG | NameControl |
| Phone | 8048281487 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 301 WEST MAIN STREET PO BOX 844000 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232844000 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | KAREN EMMETT COLEMAN | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 8048281487 | Phone |
| Date Signed | 2012-11-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | M JAMES HARTSON JR CPA | Name |
| PTIN | P00590214 | PTIN |
| Phone | 8042826000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | KAREN EMMETT COLEMAN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 301 WEST MAIN STREET PO BOX 844000 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232844000 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 10190830 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.BUSINESS.VCU.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2005 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | THE FOUNDATION SUPPORTS AND PROMOTES THE ACTIVITIES AND MISSION OF THE SCHOOL OF BUSINESS AT VIRGINIA COMMONWEALTH UNIVERSITY. IT SOLICITS, MANAGES AND DISTRIBUTES ASSETS FOR PROGRAMS WITHIN THE SCHOOL OF BUSINESS. THROUGH THOSE ACTIVITIES, IT PROVIDES RESOURCES TO EDUCATE STUDENTS, ACHIEVE TEACHING EXCELLENCE, AND PROMOTE SCHOLARLY RESEARCH. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 35 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 35 | NbrIndependentVotingMembers |
| Total Nbr Employees | 12 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1002115 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 975406 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 653906 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 937454 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 608320 | InvestmentIncomePriorYear |
| Investment Income Current Year | 772111 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 669504 | OtherRevenuePriorYear |
| Other Revenue Current Year | 684484 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 2933845 | TotalRevenuePriorYear |
| Total Revenue Current Year | 3369455 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 2239607 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 2399785 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 144764 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 163726 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1993879 | OtherExpensePriorYear |
| Other Expenses Current Year | 2001743 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 4378250 | TotalExpensesPriorYear |
| Total Expenses Current Year | 4565254 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -1444405 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -1195799 | RevenuesLessExpensesCY |
| Total Assets BOY | 79916490 | TotalAssetsBOY |
| Total Assets EOY | 76784320 | TotalAssetsEOY |
| Total Liabilities BOY | 57045274 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 58112328 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 22871216 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 18671992 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE MISSION OF THE FOUNDATION IS TO ASSIST, SUPPORT AND FOSTER THE ACTIVITIES AND MISSION OF THE SCHOOL OF BUSINESS AT VIRGINIA COMMONWEALTH UNIVERSITY. IT SOLICITS, MANAGES AND DISTRIBUTES ASSETS TO BENEFIT PROGRAMS IN THE SCHOOL OF BUSINESS. IT ALSO OWNS PROPERTY WHICH IS LEASED TO VIRGINIA COMMONWEALTH UNIVERSITY TO BE USED FOR SCHOOL OF BUSINESS CLASSES AND ACTIVITIES. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 2211024 | Expense |
| Description | THE VCU SCHOOL OF BUSINESS FOUNDATION OWNS NONRESIDENTIAL REAL ESTATE AND LAND. THAT PROPERTY IS LEASED TO VIRGINIA COMMONWEALTH UNIVERSITY FOR $1 PER YEAR, UNDER A LEASE AGREEMENT WHICH EXPIRES IN 2031, FOR THE PURPOSE OF HOUSING THE MAIN TEACHING AND ACTIVITY FACILITY FOR THE SCHOOL OF BUSINESS. THE REMAINDER OF THE RENTAL INCOME IS IMPUTED. THE FOUNDATION HAS RECORDED AS A LIABILITY AN AMOUNT EQUAL TO THE ESTIMATED PRESENT VALUE OF THE FUTURE RENTAL VALUE OF THE FACILITY OVER THE INITIAL LEASE TERM LESS THE $1 ANNUAL RENT PAYMENT. THE FOUNDATION INCURS INTEREST, DEPRECIATION, AMORTIZATION AND LEGAL EXPENSES WITH REGARDS TO THIS ACTIVITY. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1450595 | Expense |
| Revenue | 2635 | Revenue |
| Description | THE VCU SCHOOL OF BUSINESS FOUNDATION SUPPORTS PROGRAMMATIC INITIATIVES OF THE SCHOOL OF BUSINESS PRIMARILY BY MANAGING INVESTED FUNDS AND ADMINISTERING THE DISTRIBUTION OF ANNUAL GIFTS, ENDOWMENT AND QUASI-ENDOWMENT FUNDS. THESE PROGRAMS INCLUDE: ENDOWED CHAIRS AND PROFESSORSHIPS, PROVIDING MERIT SCHOLARSHIPS TO MORE THAN 55 STUDENTS ANNUALLY, DEPARTMENTAL SUPPORT OF FACULTY DEVELOPMENT, STUDENT DEVELOPMENT ACTIVITIES, AS WELL AS RESEARCH SUPPORT AND ASSISTANTSHIPS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 903635 | Expense |
| Revenue | 937454 | Revenue |
| Description | THE VCU SCHOOL OF BUSINESS FOUNDATION ASSISTS AND SUPPORTS VIRGINIA COMMONWEALTH UNIVERSITY'S SCHOOL OF BUSINESS BY PROVIDING EDUCATIONAL CONFERENCES AND NONCREDIT BEARING COURSES FOR MEMBERS OF THE SCHOOL AND COMMUNITY. THESE TYPES OF ACTIVITIES INCLUDE EXECUTIVE EDUCATION COURSES IN LEADERSHIP SKILLS, TECHNICAL TRAINING IN BUSINESS AREAS SUCH AS SIX SIGMA, PROFESSIONAL EXAM REVIEW COURSES AND INDUSTRY CONFERENCES FOR REAL ESTATE, RISK & INSURANCE AND INTERNATIONAL BUSINESS. ANY PROCEEDS FROM CONFERENCES AND NONCREDIT BEARING COURSE REGISTRATIONS THAT EXCEED THE COST OF THE PROGRAMS ARE USED TO SUPPORT PROGRAMMATIC INITIATIVES WITHIN THE SCHOOL OF BUSINESS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 4565254 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 11 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 12 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 35 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 35 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Own Website | X | OwnWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAREN EMMETT COLEMAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8048281487 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 301 WEST MAIN STREET POST OFFICE | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232844000 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (35 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| G GILMER MINOR III | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| CHARLES F PHILLIPS III | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| STEVEN A MARKEL | ||||||
| CHAIRMAN | 2.00 | X | 0 | 0 | 0 | X |
| ROBERT E HENLEY | ||||||
| TREASURER | 2.00 | X | 0 | 0 | 0 | X |
| JAMES A BUZZARD | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| L DANS CALLANS JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| PHYLLIS L COTHRAN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JOSEE G COVINGTON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| RICHARD CULLEN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| T KENT COX | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| NANCY C EVERETT | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| CHARLES H FOSTER JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MARK M GAMBILL | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| WILLIAM M GINTHER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| A WILLIAM HAMILL | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| GAIL L LETTS | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ALLEN B KING | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JOHN P MCCANN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JAMES V MEATH | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| THURSTON R MOORE ESQUIRE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR JOHN R NELSON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JAMES E ROGERS | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| RANJIT SEN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| S BUFORD SCOTT | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ROBERT C SLEDD | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| THOMAS G SNEAD JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| BAXTER F PHILLIPS JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ERIC P WHITTLETON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR MICHEAL RAO | ||||||
| EX-OFFICIO | 2.00 | X | 0 | 0 | 0 | |
| MARY ANN STEINER | ||||||
| EX-OFFICIO | 1.00 | X | 0 | 0 | 0 | |
| ED GRIER | ||||||
| EX-OFFICIO | 1.00 | X | 0 | 0 | 0 | |
| HARRY R THALHIMER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR PAMELA K ROYALL | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| GREGORY H WINGFIELD | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| KAREN EMMETT COLEMAN | ||||||
| SECRETARY | 2.00 | X | 0 | 0 | 0 | X |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| All Other Contributions | 975406 | AllOtherContributions |
| Noncash Contributions | 23384 | NoncashContributions |
| Total Contributions | 975406 | TotalContributions |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | NON CREDIT COURSE REVE | Description |
| Business Code | 611310 | BusinessCode |
| Total Revenue Column | 937454 | TotalRevenueColumn |
| Related Or Exempt Function Income | 937454 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 937454 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 569182 | TotalRevenueColumn |
| Exclusion | $569,182 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 2018414 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 1351646 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 666768 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 666768 | TotalRevenueColumn |
| Exclusion | $666,768 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 5666968 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 5464039 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 202929 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 202929 | TotalRevenueColumn |
| Exclusion | $202,929 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 6982 | GrossSalesOfInventory |
| Cost Of Goods Sold | 5690 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1292 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1292 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | ExclusionExclusionAmount | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|---|
| INCOME FROM PASSTHROUG | 900099 | 15081 | $15,081 | |
| MISCELLANEOUS | 900099 | 1343 | 1343 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 16424 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3369455 | TotalRevenueColumn |
| Related Or Exempt Function Income | 940089 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,453,960 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2399785 | Total |
| Program Services | 2399785 | ProgramServices |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 152091 | Total |
| Program Services | 152091 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11635 | Total |
| Program Services | 11635 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18500 | Total |
| Program Services | 18500 | ProgramServices |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 101519 | Total |
| Program Services | 101519 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14036 | Total |
| Program Services | 14036 | ProgramServices |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3442 | Total |
| Program Services | 3442 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1045132 | Total |
| Program Services | 1045132 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8131 | Total |
| Program Services | 8131 | ProgramServices |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| COURSE MATERIALS & RELA | 725873 | 725873 |
| OTHER EXPENSES | 77844 | 77844 |
| BAD DEBTS | 7266 | 7266 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4565254 | Total |
| Program Services | 4565254 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 504162 | BOY |
| EOY | 1066115 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4721072 | BOY |
| EOY | 3060463 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3752273 | BOY |
| EOY | 1804838 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 132759 | BOY |
| EOY | 104889 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 43701160 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 5973886 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39067211 | BOY |
| EOY | 37727274 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17061004 | BOY |
| EOY | 17083556 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14327299 | BOY |
| EOY | 15670905 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 350710 | BOY |
| EOY | 266280 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 79916490 | BOY |
| EOY | 76784320 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 31459512 | BOY |
| EOY | 33371796 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25567822 | BOY |
| EOY | 24715300 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17940 | BOY |
| EOY | 25232 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57045274 | BOY |
| EOY | 58112328 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8480350 | BOY |
| EOY | 4775337 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6523275 | BOY |
| EOY | 5979771 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7867591 | BOY |
| EOY | 7916884 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22871216 | BOY |
| EOY | 18671992 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 79916490 | BOY |
| EOY | 76784320 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -1195799 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -3003425 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 11211474 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 833722 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 986068 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1002115 | CurrentTaxYearMinus1Year |
| Current Tax Year | 975406 | CurrentTaxYear |
| Total | 15008785 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 11211474 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 833722 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 986068 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1002115 | CurrentTaxYearMinus1Year |
| Current Tax Year | 975406 | CurrentTaxYear |
| Total | 15008785 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 465260 | AmountsSubstContributorsTotal |
| Public Support Total170 | 14543525 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1621674 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 2515747 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 2534000 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 2465121 | CurrentTaxYearMinus1Year |
| Current Tax Year | 2587596 | CurrentTaxYear |
| Total | 11724138 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 2736 | CurrentTaxYearMinus1Year |
| Current Tax Year | 1343 | CurrentTaxYear |
| Total | 4079 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 26737002 | TotalSupport |
| Gross Receipts From Admissions Etc | 4873354 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.54390 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.59030 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 37303721 | BeginningOfYearBalance |
| Contributions | 280740 | Contributions |
| Investment Earnings Or Losses | 281770 | InvestmentEarningsOrLosses |
| Other Expenditures | 2666023 | OtherExpenditures |
| Administrative Expenses | 101519 | AdministrativeExpenses |
| End Of Year Balance | 35098689 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 34825186 | BeginningOfYearBalance |
| Contributions | 376638 | Contributions |
| Investment Earnings Or Losses | 4654591 | InvestmentEarningsOrLosses |
| Other Expenditures | 2472506 | OtherExpenditures |
| Administrative Expenses | 80188 | AdministrativeExpenses |
| End Of Year Balance | 37303721 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 34706788 | BeginningOfYearBalance |
| Contributions | 417537 | Contributions |
| Investment Earnings Or Losses | 2445804 | InvestmentEarningsOrLosses |
| Other Expenditures | 2673249 | OtherExpenditures |
| Administrative Expenses | 71694 | AdministrativeExpenses |
| End Of Year Balance | 34825186 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 40465377 | BeginningOfYearBalance |
| Contributions | 257214 | Contributions |
| Investment Earnings Or Losses | -4595437 | InvestmentEarningsOrLosses |
| Other Expenditures | 1348672 | OtherExpenditures |
| Administrative Expenses | 71694 | AdministrativeExpenses |
| End Of Year Balance | 34706788 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.64400 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.35600 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3503036 | OtherCostOrOtherBasis |
| Book Value | 3503036 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 40198124 | OtherCostOrOtherBasis |
| Depreciation | 5973886 | Depreciation |
| Book Value | 34224238 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 37727274 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (9 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| BARLOW PARNTERS OFFSHORE LTD | 2979682 | F |
| PROPERTY HOLDINGS V | 1397388 | F |
| GERBER/TAYLOR OFFSHORE | 3119175 | F |
| 1607 INTERNATIONAL EQUITY FUND, LP | 1783878 | F |
| CITY OF LONDON | 1160221 | F |
| WINSTON GLOBAL PARTNERS | 1348285 | F |
| POINTER OFFSHORE LIMITED | 2794617 | F |
| ELLIOTT INTERNATIONAL | 130301 | F |
| PROPERTY HOLDINGS VI | 957358 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 15670905 | TotalOfBookValueSecurities |
| Total Revenue | 3369455 | TotalRevenue |
| Total Expenses | 4565254 | TotalExpenses |
| Excess Or Deficit For Year | -1195799 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -487835 | NetUnrealizedGLOnInvestments |
| Other | -$2,515,590 | OtherAmount |
| Total Adjustments | -3003425 | TotalAdjustments |
| Excess Or Deficit Per FS | -4199224 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 4223875 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -487835 | NetUnrealizedGainsInvestments |
| Other Revenues | 1357336 | OtherRevenues |
| Revenue Not Rptd F990 | 869501 | RevenueNotRptdF990 |
| Revenue Subtotal | 3354374 | RevenueSubtotal |
| Other Revenues Not Included | 15081 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 15081 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 3369455 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 8423099 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 3857845 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 3857845 | ExpensesNotRptdF990 |
| Expenses Subtotal | 4565254 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 4565254 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | VARIOUS ENDOWMENTS HAVE BEEN CREATED TO SUPPORT THE FOUNDATION AND ITS MISSION. THE ENDOWMENTS PROVIDE SCHOLARSHIPS, SUPPORT ENDOWED CHAIRS, SUPPORT PROGRAMS AND OTHER INITIATIVES RELATED TO THE SCHOOL OF BUSINESS. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE ORGANIZATION APPLIES THE ACCOUNTING STANDARD REGARDING "ACCOUNTING FOR UNCERTAIN TAX POSITIONS". THIS STANDARD PROVIDES DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. IT REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. THE ADOPTION OF THIS STANDARD HAD NO MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL POSITION, RESULTS OF OPERATIONS, OR CASH FLOW. THE TAX YEARS OF 2008 TO 2011 REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. THE ORGANIZATION INCLUDES PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES IN OPERATING EXPENSES. THE ORGANIZATION DID NOT HAVE PENALTIES AND INTEREST EXPENSES FOR THE YEAR ENDED JUNE 30, 2012. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -2,500,509. BOOK/TAX DIFFERENCE INCOME FROM PASSTHROUGH ENTITIES -15,081. TOTAL TO SCHEDULE D, PART XI, LINE 8: -2,515,590. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | COST OF GOODS SOLD EXPENSE NETTED WITH REVENUE 5,690. RENTAL EXPENSES LINE 6B INCLUDED IN EXPENSES IN FINANCIAL STATEMENTS 1,351,646. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INCOME FROM PASSTHROUGH ENTITIES 15,081. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | UNREALIZED LOSS ON INTEREST RATE SWAP 2,500,509. COST OF GOODS SOLD EXPENSE NETTED WITH REVENUE 5,690. RENTAL EXPENSES NETTED AGAINST RENTAL INCOME IN RETURN 1,351,646. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 0 | RecordsMaintained |
Recipient Table RecipientTable
Recipient Name Business RecipientNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA COMMONWEALTH UNIVERSITY | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 912 W FRANKLIN STREET | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232843035 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN Of Recipient | 546001758 | EINOfRecipient |
| IRC Section | 115 | IRCSection |
| Amount Of Cash Grant | 1233893 | AmountOfCashGrant |
| Amount Of Non Cash Assistance | 1165892 | AmountOfNonCashAssistance |
| Description Of Non Cash Assistance | PRESENT VALUE ADJUSTMENT FOR ACCRUED CONTRIBUTION TO VCU FOR FUTURE RENT | DescriptionOfNonCashAssistance |
| Purpose Of Grant | ASSISTANCE IS PROVIDED IN ORDER TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY. | PurposeOfGrant |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 IS REVIEWED AND DISCUSSED BY THE MEMBERS OF THE AUDIT COMMITTEE PRIOR TO FILING. THE FORM IS MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY AFTER THE ADUIT COMMITTEE HAS GIVEN APPROVAL. | |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL INVESTMENT AND BUSINESS TRANSACTIONS OF THE FOUNDATION ARE REVIEWED BY THE EXECUTIVE DIRECTOR TO ENSURE THERE IS NO CONFLICT OF INTEREST WITH ANY TRUSTEE IN MATTERS RELATING TO THE FOUNDATION. ANNUALLY, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT IN ORDER TO DISCLOSE THE EXISTENCE OF ANY CONFLICTS. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION FOR KEY POSITIONS IS GOVERNED BY APPLICABLE POLICIES ENFORCED BY VIRGINIA COMMONWEALTH UNIVERSITY AND THE COMMONWEALTH OF VIRGINIA. COMPENSATION IS DETERMINED USING COMPARABILITY DATA, AND REVIEWED AT THE UNIVERSITY LEVEL FOR COMPLIANCE WITH EXISTING POLICIES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | AUDITED FINANCIAL STATEMENTS, THE MOST RECENT FORM 990 AND GOVERNING DOCUMENTS ARE POSTED ON THE VCU SCHOOL OF BUSINESS WEBSITE. PRINTED COPIES ARE AVAILABLE BY WRITTEN REQUEST RECEIVED BY MAIL AT THE ORGANIZATION'S BUSINESS ADDRESS. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -487,835. UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -2,500,509. BOOK/TAX DIFFERENCE INCOME FROM PASSTHROUGH ENTITIES -15,081. TOTAL TO FORM 990, PART XI, LINE 5: -3,003,425. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| THE OVERSIGHT PROCESS AND SELECTION PROCESS HAVE NOT CHANGED FROM THE PREVIOUS YEAR. |
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