VIRGINIA COMMONWEALTH UNIVERSITY SCHOOL OF BUSINESS FOUNDATION: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: VIRGINIA COMMONWEALTH UNIVERSITY SCHOOL OF BUSINESS FOUNDATION (EIN 20-2661802)
Tax period: 2010-07-01 to 2011-06-30
Filed: 2011-11-09
IRS object ID: 201113139349301956
Schema version: 2010v3.4
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
Form 990
Schedule A
Schedule B
Schedule D
Schedule I
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-11-09T11:44:56-06:00	Timestamp
Tax Period End Date	2011-06-30	TaxPeriodEndDate

Preparer Firm PreparerFirm

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	2010-07-01	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	KENNETH C BLAISDELL	Name
Title	EXECUTIVE DIRECTOR	Title
Phone	8048281487	Phone
Date Signed	2011-11-03	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	M JAMES HARTSON JR CPA	Name
Phone	8042826000	Phone

Field	Value	IRS element (for citing)
Tax Year	2010	TaxYear
Build TS	2016-03-07 17:11:31Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	KENNETH C BLAISDELL	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	7572160	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	33	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	31	NbrIndependentVotingMembers
Total Nbr Employees	15	TotalNbrEmployees
Total Nbr Volunteers	0	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Net Unrelated Business Txbl Income	0	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	986068	ContributionsGrantsPriorYear
Contributions Grants Current Year	1002115	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	1598089	ProgramServiceRevenuePriorYear
Program Service Revenue CY	653906	ProgramServiceRevenueCY
Investment Income Prior Year	559866	InvestmentIncomePriorYear
Investment Income Current Year	608320	InvestmentIncomeCurrentYear
Other Revenue Prior Year	666768	OtherRevenuePriorYear
Other Revenue Current Year	669504	OtherRevenueCurrentYear
Total Revenue Prior Year	3810791	TotalRevenuePriorYear
Total Revenue Current Year	2933845	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	2200824	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	2239607	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	0	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	107736	SalariesEtcPriorYear
Salaries Etc Current Year	144764	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	2150526	OtherExpensePriorYear
Other Expenses Current Year	1993879	OtherExpensesCurrentYear
Total Expenses Prior Year	4459086	TotalExpensesPriorYear
Total Expenses Current Year	4378250	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-648295	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-1444405	RevenuesLessExpensesCY
Total Assets BOY	78750641	TotalAssetsBOY
Total Assets EOY	79916490	TotalAssetsEOY
Total Liabilities BOY	59157852	TotalLiabilitiesBOY
Total Liabilities EOY	57045274	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	19592789	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	22871216	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	2376014	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	1240181	Expense
Revenue	2736	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	762055	Expense
Revenue	653906	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	4378250	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	15	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
Form8899 Filed	0	Form8899Filed
Form1098 C Filed	0	Form1098CFiled
Excess Business Holdings	0	ExcessBusinessHoldings
Taxable Distributions	0	TaxableDistributions
Distribution To Donor	0	DistributionToDonor
Indoor Tanning Services	0	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	33	NbrVotingGoverningBodyMembers
Number Independent Voting Members	31	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	KENNETH C BLAISDELL	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 (36 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
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
BRENTON S HALSEY
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
ROBERT E HENLEY
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
F DIXON WHITWORTH
TRUSTEE	1.00	X	0	0	0
DR MICHEAL RAO
EX-OFFICIO	2.00	X	0	0	0
JOSEPH E BECHT JR
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
STEVEN A MARKEL
CHAIRMAN	2.00		0	0	0	X
ROBERT E RIGSBY
TREASURER	2.00		0	0	0	X
DR KENNETH C BLAISDELL
SECRETARY	4.00		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	1002115	AllOtherContributions
Total Contributions	1002115	TotalContributions

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	NON CREDIT COURSE REVE	Description
Business Code	611310	BusinessCode
Total Revenue Column	653906	TotalRevenueColumn
Related Or Exempt Function Income	653906	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Program Service Revenue	653906	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	446707	TotalRevenueColumn
Exclusion	$446,707	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	3448282	Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	3286669	Securities

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	161613	Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	161613	TotalRevenueColumn
Exclusion	$161,613	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	MISCELLANEOUS	Description
Business Code	900099	BusinessCode
Total Revenue Column	2736	TotalRevenueColumn
Related Or Exempt Function Income	2736	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	2736	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	2933845	TotalRevenueColumn
Related Or Exempt Function Income	656642	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	0	UnrelatedBusinessRevenue
Exclusion	$1,275,088	ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

Field	Value	IRS element (for citing)
Total	2239607	Total
Program Services	2239607	ProgramServices

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	134334	Total
Program Services	134334	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	10430	Total
Program Services	10430	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	17250	Total
Program Services	17250	ProgramServices

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	80188	Total
Program Services	80188	ProgramServices

Advertising Advertising

Field	Value	IRS element (for citing)
Total	17407	Total
Program Services	17407	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	7617	Total
Program Services	7617	ProgramServices

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	595	Total
Program Services	595	ProgramServices

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	575	Total
Program Services	575	ProgramServices

Interest Interest

Field	Value	IRS element (for citing)
Total	1172942	Total
Program Services	1172942	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	4549	Total
Program Services	4549	ProgramServices

Other Expenses OtherExpenses (2 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
COURSE MATERIALS & RELA	602136	602136
OTHER EXPENSES	90620	90620

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	4378250	Total
Program Services	4378250	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	1485344	BOY
EOY	504162	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	6475256	BOY
EOY	4721072	EOY

Pledges And Grants Receivable PledgesAndGrantsReceivable

Field	Value	IRS element (for citing)
BOY	5017830	BOY
EOY	3752273	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	170106	BOY
EOY	132759	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	110024	BOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	43701160	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	4633949	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	40407148	BOY
EOY	39067211	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	15284681	BOY
EOY	17061004	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	9437832	BOY
EOY	14327299	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	362420	BOY
EOY	350710	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	78750641	BOY
EOY	79916490	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	32768938	BOY
EOY	31459512	EOY

Grants Payable GrantsPayable

Field	Value	IRS element (for citing)
BOY	26383164	BOY
EOY	25567822	EOY

Deferred Revenue DeferredRevenue

Field	Value	IRS element (for citing)
BOY	5750	BOY
EOY	17940	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	59157852	BOY
EOY	57045274	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	6929000	BOY
EOY	8480350	EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	4950562	BOY
EOY	6523275	EOY

Permanently Restricted Net Assets PermanentlyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	7713227	BOY
EOY	7867591	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	19592789	BOY
EOY	22871216	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	78750641	BOY
EOY	79916490	EOY

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	X	InfoInScheduleOPartXI
Reconcilation Revenue Expenses	-1444405	ReconcilationRevenueExpenses
Reconcilation Other Changes	4722832	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	14444575	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	11211474	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	833722	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	986068	CurrentTaxYearMinus1Year
Current Tax Year	1002115	CurrentTaxYear
Total	28477954	Total

Total170 Total170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	14444575	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	11211474	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	833722	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	986068	CurrentTaxYearMinus1Year
Current Tax Year	1002115	CurrentTaxYear
Total	28477954	Total

Field	Value	IRS element (for citing)
Amounts Subst Contributors Total	5948967	AmountsSubstContributorsTotal
Public Support Total170	22528987	PublicSupportTotal170

Gross Investment Income170 GrossInvestmentIncome170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	547710	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	1621674	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	2515747	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	2534000	CurrentTaxYearMinus1Year
Current Tax Year	2465121	CurrentTaxYear
Total	9684252	Total

Other Income170 OtherIncome170

Field	Value	IRS element (for citing)
Current Tax Year	2736	CurrentTaxYear
Total	2736	Total

Field	Value	IRS element (for citing)
Total Support	38164942	TotalSupport
Gross Receipts From Admissions Etc	4581812	GrossReceiptsFromAdmissionsEtc
Public Support Pertcentage170	0.59030	PublicSupportPertcentage170
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	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 Minus1 Year CurrentYearMinus1Year

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 Minus2 Years CurrentYearMinus2Years

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	0.65350	BoardDesignatedEOYBalance
Permanent Endowment EOY Balance	0.34650	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	4633949	Depreciation
Book Value	35564175	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	39067211	TotalOfBookValueLandBuildings

Other Securities OtherSecurities (7 entries)

DescriptionDescription	Book ValueBookValue	Method Of ValuationMethodOfValuation
BARLOW PARNTERS OFFSHORE LTD	3004368	F
PROPERTY HOLDINGS	1413848	F
GERBER/TAYLOR OFFSHORE	3180829	F
1607 INTERNATIONAL EQUITY FUND, LP	1204924	F
CITY OF LONDON	1428847	F
WINSTON GLOBAL PARTNERS	1331371	F
POINTER OFFSHORE LIMITED	2763112	F

Field	Value	IRS element (for citing)
Total Of Book Value Securities	14327299	TotalOfBookValueSecurities
Total Revenue	2933845	TotalRevenue
Total Expenses	4378250	TotalExpenses
Excess Or Deficit For Year	-1444405	ExcessOrDeficitForYear
Net Unrealized GL On Investments	4055357	NetUnrealizedGLOnInvestments
Other	$667,475	OtherAmount
Total Adjustments	4722832	TotalAdjustments
Excess Or Deficit Per FS	3278427	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	9008323	TotRevenueEtcAuditedFinclStmt
Net Unrealized Gains Investments	4055357	NetUnrealizedGainsInvestments
Other Revenues	2019121	OtherRevenues
Revenue Not Rptd F990	6074478	RevenueNotRptdF990
Revenue Subtotal	2933845	RevenueSubtotal
Revenue Not Rptd On Fin Stmt	0	RevenueNotRptdOnFinStmt
Total Revenue Per Form990	2933845	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	5729896	TotExpensesEtcAuditedFinclStmt
Other Expenses Included	1351646	OtherExpensesIncluded
Expenses Not Rptd F990	1351646	ExpensesNotRptdF990
Expenses Subtotal	4378250	ExpensesSubtotal
Expenses Not Rptd On Fin Stmt	0	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	4378250	TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (5 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:	PART V, LINE 4:	VARIOUS ENDOWMENTS HAVE BENN 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:	EFFECTIVE JULY 1, 2009, THE ORGANIZATION ADOPTED 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 2007 TO 2010 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, 2011.
PART XI, LINE 8 - OTHER ADJUSTMENTS:		UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENT 667,475.
PART XII, LINE 2D - OTHER ADJUSTMENTS:		RENTAL EXPENSES LINE 6B INCLUDED IN EXPENSES IN FINANCIAL STATEMENTS 1,351,646. UNREALIZED GAIN ON INTEREST RATE SWAP 667,475.
PART XIII, LINE 2D - OTHER ADJUSTMENTS:		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	1036535	AmountOfCashGrant
Amount Of Non Cash Assistance	1203072	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)

IdentifierIdentifier	ExplanationExplanation	Return ReferenceReturnReference
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.
	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 12C
	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 B, LINE 15
	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 VI, SECTION C, LINE 19
CHANGES IN NET ASSETS OR FUND BALANCES:	NET UNREALIZED GAINS ON INVESTMENTS: 4,055,357. UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENT 667,475. TOTAL TO FORM 990, PART XI, LINE 5: 4,722,832.	FORM 990, PART XI, LINE 5:
	THE OVERSIGHT PROCESS AND SELECTION PROCESS HAVE NOT CHANGED FROM THE PREVIOUS YEAR.