﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2024v5.5">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-05-12T09:49:33-05:00</ReturnTs>
    <TaxPeriodEndDt>2025-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>540504608</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BROWN EDWARDS &amp; COMPANY LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>4951 LAKE BROOK DRIVE SUITE 375</AddressLine1Txt>
        <CityNm>GLEN ALLEN</CityNm>
        <StateAbbreviationCd>VA</StateAbbreviationCd>
        <ZIPCd>23060</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>541808901</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>VIRGINIA COMMONWEALTH UNIVERSITY</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>COLLEGE OF ENGINEERING FOUNDATION</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>VIRG</BusinessNameControlTxt>
      <PhoneNum>8048281475</PhoneNum>
      <USAddress>
        <AddressLine1Txt>601 WEST MAIN STREET ROOM 433</AddressLine1Txt>
        <CityNm>RICHMOND</CityNm>
        <StateAbbreviationCd>VA</StateAbbreviationCd>
        <ZIPCd>232843068</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>LAURA KOTTKAMP</PersonNm>
      <PersonTitleTxt>CEO</PersonTitleTxt>
      <PhoneNum>8048281475</PhoneNum>
      <SignatureDt>2026-05-11</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>1</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>M JAMES HARTSON JR CPA</PreparerPersonNm>
      <PTIN>P00590214</PTIN>
      <PhoneNum>8042826000</PhoneNum>
      <PreparationDt>2026-05-11</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <PrincipalOfficerNm>LAURA KOTTKAMP</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>601 WEST MAIN STREET-ROOM 433</AddressLine1Txt>
        <CityNm>RICHMOND</CityNm>
        <StateAbbreviationCd>VA</StateAbbreviationCd>
        <ZIPCd>232843068</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>14944329</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>0</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>WWW.VCUFOUNDATIONS.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1995</FormationYr>
      <LegalDomicileStateCd>VA</LegalDomicileStateCd>
      <ActivityOrMissionDesc>TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VCU SCHOOL OF ENGINEERING.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>23</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>23</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <TotalVolunteersCnt>0</TotalVolunteersCnt>
      <TotalGrossUBIAmt>35245</TotalGrossUBIAmt>
      <NetUnrelatedBusTxblIncmAmt>0</NetUnrelatedBusTxblIncmAmt>
      <PYContributionsGrantsAmt>791519</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>5020047</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>3986554</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>3964770</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>41953</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>486586</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>55576</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>58163</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>4875602</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>9529566</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>7726518</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>4452925</CYGrantsAndSimilarPaidAmt>
      <PYBenefitsPaidToMembersAmt>0</PYBenefitsPaidToMembersAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>147353</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>161509</CYSalariesCompEmpBnftPaidAmt>
      <PYTotalProfFndrsngExpnsAmt>0</PYTotalProfFndrsngExpnsAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>58786</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>4010762</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>3895086</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>11884633</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>8509520</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>-7009031</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>1020046</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>104684367</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>110568917</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>61513933</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>57173877</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>43170434</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>53395040</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY SCHOOL OF ENGINEERING.</MissionDesc>
      <SignificantNewProgramSrvcInd>0</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>0</SignificantChangeInd>
      <ExpenseAmt>7896351</ExpenseAmt>
      <GrantAmt>4452925</GrantAmt>
      <RevenueAmt>4022425</RevenueAmt>
      <Desc>SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF THE SCHOOL OF ENGINEERING PROPERTY AND FUNDS.</Desc>
      <TotalProgramServiceExpensesAmt>7896351</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc1039100001">1</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1234500001">1</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>0</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>0</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>0</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc1040000001">0</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc1040000001">0</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc1040000001">0</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd>1</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc1040000001">1</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc1040000001">1</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc1040000001">0</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc1040000001">0</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc1040000001">0</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc1040000001">1</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>0</SchoolOperatingInd>
      <ForeignOfficeInd>0</ForeignOfficeInd>
      <ForeignActivitiesInd>0</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>0</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>0</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>0</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>0</FundraisingActivitiesInd>
      <GamingActivitiesInd>0</GamingActivitiesInd>
      <OperateHospitalInd>0</OperateHospitalInd>
      <GrantsToOrganizationsInd referenceDocumentId="RetDoc1041900001">1</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd referenceDocumentId="RetDoc1041900001">0</GrantsToIndividualsInd>
      <ScheduleJRequiredInd referenceDocumentId="RetDoc1042400001">1</ScheduleJRequiredInd>
      <TaxExemptBondsInd>0</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>0</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>0</PYExcessBenefitTransInd>
      <LoanOutstandingInd>0</LoanOutstandingInd>
      <GrantToRelatedPersonInd>0</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>0</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>0</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>0</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>0</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>0</DeductibleArtContributionInd>
      <TerminateOperationsInd>0</TerminateOperationsInd>
      <PartialLiquidationInd>0</PartialLiquidationInd>
      <DisregardedEntityInd>0</DisregardedEntityInd>
      <RelatedEntityInd>0</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>0</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>0</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>0</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>1</ScheduleORequiredInd>
      <IRPDocumentCnt>3</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>1</BackupWthldComplianceInd>
      <EmployeeCnt>0</EmployeeCnt>
      <UnrelatedBusIncmOverLimitInd>1</UnrelatedBusIncmOverLimitInd>
      <Form990TFiledInd>1</Form990TFiledInd>
      <ForeignFinancialAccountInd>0</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>0</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>0</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>0</QuidProQuoContributionsInd>
      <Form8282PropertyDisposedOfInd>0</Form8282PropertyDisposedOfInd>
      <IndoorTanningServicesInd>0</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>0</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>23</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>23</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>0</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>0</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>0</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>0</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>0</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>0</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>0</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>1</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>1</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>0</OfficerMailingAddressInd>
      <LocalChaptersInd>0</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>1</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>1</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>1</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>1</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>0</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>0</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>0</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>0</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>0</InvestmentInJointVentureInd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <BusinessName>
          <BusinessNameLine1Txt>THE ORGANIZATION</BusinessNameLine1Txt>
        </BusinessName>
        <PhoneNum>8048281475</PhoneNum>
        <USAddress>
          <AddressLine1Txt>601 WEST MAIN STREET ROOM 433</AddressLine1Txt>
          <CityNm>RICHMOND</CityNm>
          <StateAbbreviationCd>VA</StateAbbreviationCd>
          <ZIPCd>232843068</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <InfoInScheduleOPartVIIInd>X</InfoInScheduleOPartVIIInd>
      <Form990PartVIISectionAGrp>
        <PersonNm>CHRIS KONSTANTINOS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BRIAN BISCHOFF</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ADVAIT APTE</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JAMES HOLLOWAY</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CHUNG-CHEE TAI</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DAVID BOARDMAN</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MONIQUE JOHNSON</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BRAD WELLES</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DR MICHAEL RAO</PersonNm>
        <TitleTxt>EX OFFICIO TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>EMILY STOCK</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BRIAN HAUG</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JASON BUTLER</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JULIA CAIN</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RICHARD JUPE</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>OSCAR MARTIN</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>P TEMPLE BALLARD</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RANDY REYNOLDS</PersonNm>
        <TitleTxt>EX OFFICIO TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SHARI LITOW</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CORRELL MOORE</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>WILLIAM H GOODWIN JR</PersonNm>
        <TitleTxt>CHAIRMAN EMERITUS</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RHONDA WILLIAMS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>THE HONORABLE BEN DENDY</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LAURA KOTTKAMP</PersonNm>
        <TitleTxt>CEO</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>110757</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>43280</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>110757</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>43280</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>1</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>1</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <CntrctRcvdGreaterThan100KCnt>0</CntrctRcvdGreaterThan100KCnt>
      <AllOtherContributionsAmt>5020047</AllOtherContributionsAmt>
      <NoncashContributionsAmt>2560</NoncashContributionsAmt>
      <TotalContributionsAmt>5020047</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>RENT FROM VCU</Desc>
        <BusinessCd>531120</BusinessCd>
        <TotalRevenueColumnAmt>3964770</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>3964770</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>3964770</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>39025</TotalRevenueColumnAmt>
        <ExclusionAmt>39025</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>5862324</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>5414763</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>447561</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>447561</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>35245</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>412316</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <OtherRevenueMiscGrp>
        <Desc>ENDOWMENT MANAGEMENT FEE</Desc>
        <BusinessCd>900001</BusinessCd>
        <TotalRevenueColumnAmt>57655</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>57655</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueMiscGrp>
        <Desc>MISCELLANEOUS</Desc>
        <BusinessCd>900001</BusinessCd>
        <TotalRevenueColumnAmt>508</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>508</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>58163</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>9529566</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>4022933</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>35245</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>451341</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticOrgsGrp>
        <TotalAmt>4452925</TotalAmt>
        <ProgramServicesAmt>4452925</ProgramServicesAmt>
      </GrantsToDomesticOrgsGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>161509</TotalAmt>
        <ManagementAndGeneralAmt>105816</ManagementAndGeneralAmt>
        <FundraisingAmt>55693</FundraisingAmt>
      </CompCurrentOfcrDirectorsGrp>
      <FeesForServicesManagementGrp>
        <TotalAmt>283387</TotalAmt>
        <ManagementAndGeneralAmt>283387</ManagementAndGeneralAmt>
      </FeesForServicesManagementGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>14271</TotalAmt>
        <ManagementAndGeneralAmt>14271</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>25300</TotalAmt>
        <ManagementAndGeneralAmt>25300</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>195261</TotalAmt>
        <ProgramServicesAmt>195261</ProgramServicesAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <InterestGrp>
        <TotalAmt>1013604</TotalAmt>
        <ProgramServicesAmt>913701</ProgramServicesAmt>
        <ManagementAndGeneralAmt>99903</ManagementAndGeneralAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>2334464</TotalAmt>
        <ProgramServicesAmt>2334464</ProgramServicesAmt>
      </DepreciationDepletionGrp>
      <OtherExpensesGrp>
        <Desc>OTHER EXPENSES</Desc>
        <TotalAmt>28799</TotalAmt>
        <ManagementAndGeneralAmt>25706</ManagementAndGeneralAmt>
        <FundraisingAmt>3093</FundraisingAmt>
      </OtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>8509520</TotalAmt>
        <ProgramServicesAmt>7896351</ProgramServicesAmt>
        <ManagementAndGeneralAmt>554383</ManagementAndGeneralAmt>
        <FundraisingAmt>58786</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>1203039</BOYAmt>
        <EOYAmt>2532058</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>126159</BOYAmt>
        <EOYAmt>1069284</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <LandBldgEquipCostOrOtherBssAmt>73881672</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>48627454</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>27577715</BOYAmt>
        <EOYAmt>25254218</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsOtherSecuritiesGrp>
        <BOYAmt>75750224</BOYAmt>
        <EOYAmt>81674544</EOYAmt>
      </InvestmentsOtherSecuritiesGrp>
      <IntangibleAssetsGrp>
        <EOYAmt>0</EOYAmt>
      </IntangibleAssetsGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>27230</BOYAmt>
        <EOYAmt>38813</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>104684367</BOYAmt>
        <EOYAmt>110568917</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>34467270</BOYAmt>
        <EOYAmt>33811712</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <GrantsPayableGrp>
        <BOYAmt>22858025</BOYAmt>
        <EOYAmt>19646824</EOYAmt>
      </GrantsPayableGrp>
      <UnsecuredNotesLoansPayableGrp>
        <BOYAmt>4188638</BOYAmt>
        <EOYAmt>3715341</EOYAmt>
      </UnsecuredNotesLoansPayableGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>61513933</BOYAmt>
        <EOYAmt>57173877</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>9904590</BOYAmt>
        <EOYAmt>17097062</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>33265844</BOYAmt>
        <EOYAmt>36297978</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>43170434</BOYAmt>
        <EOYAmt>53395040</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>104684367</BOYAmt>
        <EOYAmt>110568917</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>1020046</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>8610035</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>594525</OtherChangesInNetAssetsAmt>
      <InfoInScheduleOPartXIIInd>X</InfoInScheduleOPartXIIInd>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <CollegeOrganizationInd>X</CollegeOrganizationInd>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>8461117</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>5764088</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>1270908</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>791519</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>5020047</CurrentTaxYearAmt>
        <TotalAmt>21307679</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>8461117</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>5764088</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>1270908</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>791519</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>5020047</CurrentTaxYearAmt>
        <TotalAmt>21307679</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>13729173</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>7578506</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>1234</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1863</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>28589</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>41953</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>39025</CurrentTaxYearAmt>
        <TotalAmt>112664</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <UnrelatedBusinessNetIncm170Grp>
        <CurrentTaxYearAmt>35245</CurrentTaxYearAmt>
        <TotalAmt>35245</TotalAmt>
      </UnrelatedBusinessNetIncm170Grp>
      <TotalSupportAmt>21455588</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>19732777</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.35320</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.36440</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>60533544</BeginningYearBalanceAmt>
        <ContributionsAmt>2477642</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>7893755</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>4260695</OtherExpendituresAmt>
        <EndYearBalanceAmt>66644246</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>58328617</BeginningYearBalanceAmt>
        <ContributionsAmt>61889</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>7383486</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>5240448</OtherExpendituresAmt>
        <EndYearBalanceAmt>60533544</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>59601881</BeginningYearBalanceAmt>
        <ContributionsAmt>1224479</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>5042118</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>7539861</OtherExpendituresAmt>
        <EndYearBalanceAmt>58328617</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>75202851</BeginningYearBalanceAmt>
        <ContributionsAmt>940606</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>-9049793</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>7491783</OtherExpendituresAmt>
        <EndYearBalanceAmt>59601881</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>59958920</BeginningYearBalanceAmt>
        <ContributionsAmt>1244822</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>21184480</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>7185371</OtherExpendituresAmt>
        <EndYearBalanceAmt>75202851</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.57700</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.25070</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.17230</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <InvestmentCostOrOtherBasisAmt>2800000</InvestmentCostOrOtherBasisAmt>
        <OtherCostOrOtherBasisAmt>1507317</OtherCostOrOtherBasisAmt>
        <BookValueAmt>4307317</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>69527443</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>48585178</DepreciationAmt>
        <BookValueAmt>20942265</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>46912</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>42276</DepreciationAmt>
        <BookValueAmt>4636</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>25254218</TotalBookValueLandBuildingsAmt>
      <OtherSecuritiesGrp>
        <Desc>LONG/SHORT HEDGED EQUITY FUNDS</Desc>
        <BookValueAmt>1194544</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </OtherSecuritiesGrp>
      <OtherSecuritiesGrp>
        <Desc>THE RAM FUND, LP</Desc>
        <BookValueAmt>65520000</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </OtherSecuritiesGrp>
      <OtherSecuritiesGrp>
        <Desc>THE RAM PRIVATE ASSET FUND, LP</Desc>
        <BookValueAmt>14960000</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </OtherSecuritiesGrp>
      <TotalBookValueSecuritiesAmt>81674544</TotalBookValueSecuritiesAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>18552490</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>8610035</NetUnrealizedGainsInvstAmt>
      <OtherRevenueAmt>608150</OtherRevenueAmt>
      <RevenueNotReportedAmt>9218185</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>9334305</RevenueSubtotalAmt>
      <InvestmentExpensesNotIncldAmt>195261</InvestmentExpensesNotIncldAmt>
      <RevenueNotReportedFinclStmtAmt>195261</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>9529566</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>8327884</TotExpnsEtcAuditedFinclStmtAmt>
      <OtherExpensesIncludedAmt>13625</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>13625</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>8314259</ExpensesSubtotalAmt>
      <InvestmentExpensesNotIncld2Amt>195261</InvestmentExpensesNotIncld2Amt>
      <ExpensesNotRptFinclStmtAmt>195261</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>8509520</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VARIOUS ENDOWMENTS WERE ESTABLISHED TO SUPPORT THE FOUNDATION AND ITS MISSION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION FOLLOWS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REGARDING "ACCOUNTING FOR UNCERTAIN TAX POSITIONS" THAT PROVIDES DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN THE FOUNDATION'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 TAX YEARS OF 2022 TO 2024 REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. THE FOUNDATION 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, 2025.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>RECOVERY OF PRIOR YEAR UNCOLLECTABLE CONTRIBUTION RECEIVABLE 608,150.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>WRITE OFF OF UNCOLLECTABLE CONTRIBUTION RECEIVABLE 13,625.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VIRGINIA COMMONWEALTH UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>912 W FRANKLIN STREET POST OFFICE</AddressLine1Txt>
          <AddressLine2Txt>BOX 843035</AddressLine2Txt>
          <CityNm>RICHMOND</CityNm>
          <StateAbbreviationCd>VA</StateAbbreviationCd>
          <ZIPCd>232843035</ZIPCd>
        </USAddress>
        <RecipientEIN>546001758</RecipientEIN>
        <IRCSectionDesc>115</IRCSectionDesc>
        <CashGrantAmt>3777942</CashGrantAmt>
        <NonCashAssistanceAmt>0</NonCashAssistanceAmt>
        <NonCashAssistanceDesc>PRESENT VALUE ADJUSTMENT FOR ACCRUED CONTRIBUTION TO VCU FOR FUTURE RENT</NonCashAssistanceDesc>
        <PurposeOfGrantTxt>ASSISTANCE IS PROVIDED IN ORDER TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VIRGINIA COMMONWEALTH UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>912 W FRANKLIN STREET POST OFFICE</AddressLine1Txt>
          <AddressLine2Txt>BOX 843035</AddressLine2Txt>
          <CityNm>RICHMOND</CityNm>
          <StateAbbreviationCd>VA</StateAbbreviationCd>
          <ZIPCd>232843035</ZIPCd>
        </USAddress>
        <RecipientEIN>546001758</RecipientEIN>
        <IRCSectionDesc>115</IRCSectionDesc>
        <CashGrantAmt>0</CashGrantAmt>
        <NonCashAssistanceAmt>674983</NonCashAssistanceAmt>
        <NonCashAssistanceDesc>PRESENT VALUE ADJUSTMENT FOR ACCRUED CONTRIBUTION TO VCU FOR FUTURE RENT</NonCashAssistanceDesc>
        <PurposeOfGrantTxt>ASSISTANCE IS PROVIDED IN ORDER TO SUPPORT THE EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES OF VIRGINIA COMMONWEALTH UNIVERSITY.</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>1</Total501c3OrgCnt>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>0</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>LAURA KOTTKAMP</PersonNm>
        <TitleTxt>CEO</TitleTxt>
        <BaseCompensationFilingOrgAmt>110757</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>0</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>43280</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>154037</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>NONE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THEY ARE REQUIRED TO DISCLOSE ANY AND ALL POSSIBLE CONFLICTS OF INTEREST AT LEAST ANNUALLY OR AS THEY ARISE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>IT IS THE POLICY OF THE ORGANIZATION TO MAKE AVAILABLE COPIES OF FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFICT OF INTEREST INFORMATION AND OTHER DOCUMENTS TO THE PUBLIC.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 PART VII, SECTION A:</FormAndLineReferenceDesc>
        <ExplanationTxt>HE VCU COLLEGE OF ENGINEERING FOUNDATION DOES NOT HAVE ITS OWN EMPLOYEES. SERVICES ARE PROVIDED BY UNIVERSITY EMPLOYEES, WHO ARE COMPENSATED DIRECTLY BY THE UNIVERSITY. THE UNIVERSITY DOES NOT MEET THE IRS DEFINITION OF A RELATED ORGANIZATION. THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE PROPORTIONAL SALARY AND BENEFITS ALLOCATED TO SUPPORT OF THE FOUNDATION. THE FOUNDATION'S EXECUTIVE DIRECTOR/SECRETARY IS COMPENSATED BY THE UNIVERSITY IN HER CAPACITY AS AN OFFICER OF THE FOUNDATION. AS SUCH, THE AMOUNT PAID BY THE FOUNDATION TO THE UNIVERSITY AS A REIMBURSEMENT OF HER SALARY AND BENEFITS IS REPORTED IN PART VII, SECTION A AS IF IT WAS PAID DIRECTLY BY FOUNDATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>WRITE OFF OF UNCOLLECTABLE CONTRIBUTION RECEIVABLE -13,625. RECOVERY OF PRIOR YEAR UNCOLLECTABLE CONTRIBUTION RECEIVABLE 608,150.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>