2026-05-15T14:31:52-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 1000 WILSON BOULEVARD SUITE 1500 ARLINGTON VA 22209 990 2024-07-01 540721690 VIRGINIA TECH FOUNDATION INC VIRG 5402315751 902 PRICES FORK ROAD 4000 BLACKSBURG VA 24061 ANNE KEELER CFO 5402315751 2026-05-15 1 1 MARY TORRETTA P00847851 7038477500 2024 2025-03-06 01:10:19Z ELIZABETH A MCCLANAHAN 902 PRICES FORK ROAD 4000 BLACKSBURG VA 24061 1509634708 0 X WWW.VTF.ORG X 1948 VA VIRGINIA TECH FOUNDATION, INC. (VTF) IS A VIRGINIA NONSTOCK CORPORATION (SEE SCHEDULE O) ESTABLISHED IN 1948 FOR THE SOLE PURPOSE OF MANAGING VIRGINIA TECH'S ENDOWMENT. VTF ALSO MANAGES AN EXTENSIVE REAL ESTATE PORTFOLIO. VTF EXISTS AND OPERATES AS A SEPARATE, INDEPENDENT ENTITY WITH ITS OWN OFFICERS AND GOVERNING BOARD TO MANAGE, INVEST, AND DISTRIBUTE PRIVATE RESOURCES TO ADVANCE VIRGINIA TECH'S MISSION AND ITS STRATEGIC PRIORITIES. 35 31 93 36 -11218773 4652404 178958298 150941016 13744672 16339651 88127578 64673138 12928611 13743354 293759159 245697159 97180150 121219707 0 0 9623029 12126098 0 0 8039322 75837035 72343489 182640214 205689294 111118945 40007865 3036393497 3143485820 1040196284 1047668461 1996197213 2095817359 X VIRGINIA TECH FOUNDATION, INC. (VTF) IS A VIRGINIA NONSTOCK CORPORATION ESTABLISHED IN 1948 FOR THE SOLE PURPOSE OF MANAGING VIRGINIA TECH'S ENDOWMENT TO ADVANCE VIRGINIA TECH'S MISSION AND ITS STRATEGIC PRIORITIES. 0 0 187238171 121219707 16339651 GUIDED BY A STRONG COMMITMENT TO FIDUCIARY RESPONSIBILITY, THE FOUNDATION RECEIVES, MANAGES, AND DISBURSES PRIVATE GIFTS TO ADVANCE THE MISSIONS OF VIRGINIA TECH. THE FOUNDATION STRIVES TO BE AN EXCEPTIONAL STEWARD OF THE ASSETS PROVIDED BY THE UNIVERSITY'S MANY GENEROUS DONORS, AND TO GROW AND LEVERAGE THOSE ASSETS TO THE FULLEST EXTENT TO ENABLE THE FORWARD PROGRESS OF THE UNIVERSITY AND ALL OF ITS CONSTITUENTS. ANCHORING A SOLID INVESTMENT IN THE FUTURE OF VIRGINIA TECH, ENDOWED GIFTS MAKE UP THE LARGEST PORTION OF THE FOUNDATION'S ASSETS. THE ENDOWMENT IS AN ACTIVELY MANAGED PORTFOLIO INCORPORATING DEEP FUNDAMENTAL ANALYSIS AND A VALUE-ORIENTED, GLOBAL APPROACH. COMPLEMENTING THE ENDOWMENT'S INVESTMENTS, THE FOUNDATION MANAGES AN EXTENSIVE REAL ESTATE PORTFOLIO. REAL ESTATE (SEE SCHEDULE O) ACQUISITIONS, CONSTRUCTION AND RENOVATION ARE DONE AT THE REQUEST OF THE UNIVERSITY AND REAL ESTATE GIFTS ARE DESIGNATED IN ACCORDANCE WITH DONOR INTENT FOR ULTIMATE DISPOSITION TO SUPPORT THE MISSIONS OF VIRGINIA TECH. 187238171 1 1 0 1 0 1 0 1 0 1 1 1 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 469 0 1 93 1 1 1 1 SZ 0 0 0 1 1 1 3 0 0 1 0 0 0 0 1 0 X 35 31 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 VA X ANNE KEELER 5402315751 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 DR TIMOTHY D SANDS BOARD MEMBER- EX OFFICIO 2.00 38.00 X 0 984449 280336 MR CHARLES D PHLEGAR BOARD MEMBER - EX OFFICIO 2.00 38.00 X 0 860634 164808 DR AMY SEBRING BOARD MEMBER - EX OFFICIO 2.00 38.00 X 0 576650 167632 MR WILLIAM N PARK CHAIR 2.00 2.00 X X 0 0 0 MR GREGORY GREG C THOMPSON VICE CHAIR 2.00 2.00 X X 0 0 0 MS JACQUELINE JACKIE L ARCHER - BOARD MEMBER 2.00 2.00 X 0 0 0 MR OMAR M ASALI BOARD MEMBER (THRU 12/2024) 2.00 0.00 X 0 0 0 MR EDWARD H ED BAINE BOARD MEMBER 2.00 2.00 X 0 0 0 MS TRACY CASTLE-NEWMAN BOARD MEMBER (AS OF 01/2025) 2.00 0.00 X 0 0 0 MR DAVID S DAVE COOPER JR BOARD MEMBER 2.00 0.00 X 0 0 0 MS TRACI J DESHAZOR BOARD MEMBER 2.00 0.00 X 0 0 0 MR J BENJAMIN BEN DOUGHTIE BOARD MEMBER 2.00 2.00 X 0 0 0 MS SHIRLEY EDWARDS BOARD MEMBER (AS OF 01/2025) 2.00 0.00 X 0 0 0 MR GREGORY C GODSEY BOARD MEMBER (THRU 12/2024) 2.00 2.00 X 0 0 0 MR DONALD B DON HALLIWILL BOARD MEMBER 2.00 2.00 X 0 0 0 MR JONATHAN HILL BOARD MEMBER (AS OF 01/2025) 2.00 0.00 X 0 0 0 MR NATHAN T LAVINKA BOARD MEMBER (THRU 12/2024) 2.00 0.00 X 0 0 0 MR J RYAN LINGERFELT BOARD MEMBER 2.00 2.00 X 0 0 0 MR STEPHEN T STEVE MASON BOARD MEMBER 2.00 2.00 X 0 0 0 MR MICHAEL E MIKE MELO BOARD MEMBER 2.00 2.00 X 0 0 0 MR ROGER H MOORE BOARD MEMBER (THRU 12/2024) 2.00 0.00 X 0 0 0 MR MARTY MUSCATELLO BOARD MEMBER (THRU 12/2024) 2.00 0.00 X 0 0 0 MS CATHERINE CATHY PAPOULIAS-SAKELLARIS - BOARD MEMBER 2.00 0.00 X 0 0 0 MR CHRISTOPHER M QUILLEN BOARD MEMBER 2.00 2.00 X 0 0 0 MS JANE RATHBONE BOARD MEMBER (AS OF 01/2025) 2.00 2.00 X 0 0 0 MR JAMES A JAY ROSENSTOCK III - BOARD MEMBER 2.00 0.00 X 0 0 0 MR CHARLES ROWELL BOARD MEMBER (AS OF 01/2025) 2.00 0.00 X 0 0 0 MS LAILA N ROSSI BOARD MEMBER 2.00 2.00 X 0 0 0 MS HEMA S SANGHANI BOARD MEMBER 2.00 0.00 X 0 0 0 MR SHIRISH S SATHAYE BOARD MEMBER 2.00 2.00 X 0 0 0 MR CHRISTOPHER W CHRIS SHEAN - BOARD MEMBER 2.00 2.00 X 0 0 0 MS ADELA SKENDERASI BOARD MEMBER 2.00 0.00 X 0 0 0 MR KEITH STEMPLE BOARD MEMBER (AS OF 07/2024) 2.00 0.00 X 0 0 0 MR JAMES N STRAWBRIDGE BOARD MEMBER 2.00 2.00 X 0 0 0 MR DWYN TAYLOR - BOARD MEMBER VT VP FOR FACILITIES(THRU 12/2024) 2.00 38.00 X 306727 0 33795 MR JOHN T THOMPSON BOARD MEMBER 2.00 0.00 X 0 0 0 MR BRUCE W TYLER BOARD MEMBER 2.00 2.00 X 0 0 0 MR WILLIAM LAKE WAGNER BOARD MEMBER 2.00 2.00 X 0 0 0 MS JANE WEST BOARD MEMBER (AS OF 07/2024) 2.00 0.00 X 0 0 0 MR RICHARD R RICHIE WHITT III - BOARD MEMBER (THRU 12/2024) 2.00 0.00 X 0 0 0 MS MARGARET L WICKES BOARD MEMBER 2.00 0.00 X 0 0 0 CYRIL R CLARKE - DIRECTOR VT VP AND PROVOST (AS OF 01/2025) 2.00 38.00 X 617216 0 136854 ELIZABETH A MCCLANAHAN CHIEF EXECUTIVE OFFICER 30.00 10.00 X 868291 0 43750 MS ANNE KEELER CFO & TREASURER 38.00 2.00 X 360297 0 60406 MR KENNETH S SMITH COO & SECRETARY 38.00 2.00 X 306651 0 34187 MS KAREN COOK - BOARD MANAGER & ASS. SECRETARY (AS OF 10/2024) 38.00 2.00 X 102747 0 43459 MR DAVID GREENBERG CHIEF INVESTMENT OFFICER 40.00 0.00 X 1494627 0 75820 MR LOUIE VUONG INVESTMENT MANAGER 40.00 0.00 X 405983 0 56051 MS MARGARET MILLHISER MANAGING DIRECTOR - INVESTMENTS 40.00 0.00 X 370378 0 77413 MS TAMMY COSTIGAN CONTROLLER 40.00 0.00 X 181523 0 58916 MR JAMES FORD MANAGING DIRECTOR OF IT 40.00 0.00 X 182783 0 54695 MS MARY YOLANDA TRIGIANI CSO. & DIR. EXTERNAL RELATIONS 40.00 0.00 X 169378 0 26510 DR JOHN DOOLEY FORMER CEO; SA VT ATHLETIC DIR 0.00 20.00 X 144000 0 62 MS TERRI T MITCHELL FORMER SECRETARY 38.00 2.00 X 521952 0 34517 6032553 2421733 1349211 31 1 1 0 CORNUCOPIA INC 419 LAUREL MILLS RD CASTLETON VA 227162705 EVENT PRODUCTION & SERVICES 735296 MCR INC 4800 E 345TH ST WILLOUGHBY OH 44094 PRINTING/MAILING/SHIPPING 606446 HELLMUTH OBATA & KASSABAUM PC 1065 AVE OF THE AMERICAS FL 6 NEW YORK NY 100180829 PROFESSIONAL SERVICES 443744 BLACKBAUD INC PO BOX 930256 ATLANTA GA 311930256 ONLINE SERVICES 399488 MB CONTRACTORS INC PO BOX 533 ROANOKE VA 24018 CONSTRUCTION MGMT SERVICES 355934 21 305505 150635511 21402227 150941016 DEVELOPMENT & MANAGEMENT 900099 6411299 6411299 AFFILIATE MEMBERSHIP 900099 4376982 4376982 AGRICULTURAL EDUCATION 900099 1935741 1935741 PROPERTY MANAGEMENT FEES 900099 719200 719200 INTERNAL AUDIT SERVICES 900099 135877 135877 2760552 2760552 16339651 23705134 -12986763 36691897 49748 49748 310 310 37452631 24803437 12649194 12649194 1061961 11587233 1277071956 2980412 1238017832 1116280 39054124 1864132 40918256 671141 40247115 INCOME FROM SUBSIDIARIES 900099 1058812 1058812 ALUMNI TOURS 900099 34888 34888 WVTF 900099 150 150 1093850 245697159 16339651 -11218773 89635265 121219707 121219707 5674395 5674395 144062 72031 72031 3966840 3641005 253858 71977 450458 175738 274720 1247310 286644 949413 11253 643033 643033 675652 478522 197130 243206 73215 169991 12118 12118 6769990 6769990 11468626 9820613 476212 1171801 1316876 1104622 571 211683 6024062 3987085 228535 1808442 472495 99676 92010 280809 2528075 1911754 555900 60421 6198565 4852176 105814 1240575 402006 344606 25620 31780 7562535 2330752 5231783 2928676 2837583 91093 758796 585802 172994 MEALS & ENTERTAINMENT 8483871 7055852 78829 1349190 PUBLIC RELATIONS 3251711 2417224 474 834013 13246229 17245605 -4894723 895347 205689294 187238171 10411801 8039322 120063342 109564511 177161164 147625210 3295638 2454378 178534445 174783333 709446 701100 7548654 9743455 330644830 100610706 238035118 230034124 149551829 105390562 2032181280 2236744637 3062938 0 126249643 126444510 3036393497 3143485820 7508537 8515740 39609305 36089351 262858708 243222747 11000556 10622900 719219178 749217723 1040196284 1047668461 X 498844854 545149754 1497352359 1550667605 1996197213 2095817359 3036393497 3143485820 X 40007865 63579996 -3967715 X 0 1 X 1 0 X 176951316 203293856 134749837 178958298 150941016 844894323 176951316 203293856 134749837 178958298 150941016 844894323 48195882 796698441 44751929 30632275 68825573 55432271 61207823 260849871 1424498 1424498 7971785 -3684689 10555561 6892142 1058962 22793761 1129962453 93952946 0.70510 0.70190 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INCOME FROM SUBSIDIARIES - 2020 AMOUNT: $ 9,347,686. 2021 AMOUNT: $ 5,956,909. 2022 AMOUNT: $ 9,958,654. 2023 AMOUNT: $ 5,420,456. 2024 AMOUNT: $ 1,085,661. WVTF - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 145,075. 2024 AMOUNT: $ 150. MISCELLANEOUS REVENUE - 2020 AMOUNT: $ -1,375,901. 2021 AMOUNT: $ -9,641,598. 2022 AMOUNT: $ 596,907. 2023 AMOUNT: $ 1,326,611. 2024 AMOUNT: $ -26,849. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12118 12118 205677175 205689293 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 50000 92864 3500 12118 158482 250000 250000 250000 250000 1000000 1500000 6 156682 167458 1323716 1 1 52000 7355584 X X 0 0 1950219854 80779034 146731110 23056261 22863497 44601394 2087208846 1792103981 97955152 140964722 21320195 29320912 30162894 1950219854 1586446038 158425148 124785544 20403011 30037151 27112587 1792103981 1583719460 177114769 -89023736 19933102 30011758 35419595 1586446038 1241790413 97351162 308274911 18122900 17904603 27669523 1583719460 0.04306 0.51152 0.44542 0 1 1 86422539 86422539 172801856 67412619 105389237 9795623 572802 9222821 30769329 14833374 15935955 30855483 17791911 13063572 230034124 INVESTMENT IN SUBSIDIARIES 123549476 C GLOBAL STOCK 4406528 C REAL ESTATE 5381829 C MORTGAGES RECEIVABLE 21541126 C HEDGE FUNDS 365429223 C PRIVATE REAL ASSETS 261566598 C PRIVATE CREDIT 55252641 C PRIVATE EQUITY 194012935 C PUBLIC EQUITY ALT INVESTMENTS 1164496449 C CORPORATE BONDS 3906615 C LONG TERM CASH INVESTED IN THE ENDOWMENT 37201217 C 2236744637 AGENCY DEPOSITS HELD IN TRUST 719254630 TRUST PAYMENT LIABILITIES 19004891 THIRD PARTY TRUST OBLIGATIONS 4410732 ANNUITY OBLIGATIONS 6547470 749217723 X PART III, LINE 4: COLLECTIONS OF ART VINTAGE AND OTHER COLLECTION ITEMS ARE USED TO SUPPORT THE EDUCATIONAL AND RESEARCH MISSION OF VIRGINIA TECH. PART V, LINE 4: ENDOWMENT FUNDS THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 3,784 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. THE INTENT IS THAT THE PRINCIPAL OF THE ORIGINAL GIFT CAN BE USED TO PROVIDE A PERPETUAL STREAM OF FINANCIAL SUPPORT TO A PROGRAM, SCHOLARSHIP OR PROFESSORSHIP AT VIRGINIA TECH. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: INCOME TAXES THE FOUNDATION HAS ANALYZED FILING POSITIONS IN THE FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS, AND NO RESERVES FOR UNCERTAIN TAX POSITIONS, NOR INTEREST AND PENALTIES, HAVE BEEN RECORDED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 0 PROGRAM SERVICES RENT 250981 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 INVESTMENTS 848727 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 717712931 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 65835285 4 0 0 0 4 0 784647924 0 784647924 1 0 1 1 1 0 1 AZCMS CARES FOUNDATION 850 COVE PKWY STE A COTTONWOOD AZ 86326 921923484 501(C)(3) 50000 0 GENERAL SUPPORT (DAF) COMMUNITY UNITED METHODIST CHURCH PO BOX 56 BOWIE AZ 85605 860822311 501(C)(3) 50000 0 GENERAL SUPPORT (DAF) WORLD CENTRAL KITCHEN INCORPORATED 200 MASSACHUSETTS AVE NW WASHINGTON DC 200011429 273521132 501(C)(3) 50000 0 GENERAL SUPPORT (DAF) VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 150 STUDENT SVCS BLVD BLACKSBURG VA 24061 546001805 115 39235005 0 SCHOLARSHIP VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 150 STUDENT SVCS BLVD BLACKSBURG VA 24061 546001805 115 81830259 0 DEPARTMENT PROGRAMS 4 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANT FUNDS INSIDE U.S. THE FOUNDATION TRANSFERS FUNDS TO VIRGINIA TECH TO PROVIDE SCHOLARSHIPS TO STUDENTS AND SUPPORT OTHER INITIATIVES. X 0 1 X X X 1 1 0 1 0 0 0 0 0 MR DAVID GREENBERG CHIEF INVESTMENT OFFICER 790885 0 702500 0 1242 0 40368 0 35452 0 1570447 0 0 0 DR TIMOTHY D SANDS BOARD MEMBER- EX OFFICIO 0 858937 0 100000 0 25512 0 238650 0 41686 0 1264785 0 0 MR CHARLES D PHLEGAR BOARD MEMBER - EX OFFICIO 0 826189 0 0 0 34445 0 128650 0 36158 0 1025442 0 0 ELIZABETH A MCCLANAHAN CHIEF EXECUTIVE OFFICER 578375 0 285437 0 4479 0 36812 0 6938 0 912041 0 0 0 CYRIL R CLARKE - DIRECTOR VT VP AND PROVOST (AS OF 01/2025) 599583 0 0 0 17633 0 101335 0 35519 0 754070 0 0 0 DR AMY SEBRING BOARD MEMBER - EX OFFICIO 0 573589 0 0 0 3061 0 119889 0 47743 0 744282 0 0 MS TERRI T MITCHELL FORMER SECRETARY 139705 0 0 0 382247 0 18274 0 16243 0 556469 0 0 0 MR LOUIE VUONG INVESTMENT MANAGER 237049 0 162500 0 6434 0 43407 0 12644 0 462034 0 0 0 MS MARGARET MILLHISER MANAGING DIRECTOR - INVESTMENTS 284307 0 85625 0 446 0 41364 0 36049 0 447791 0 0 0 MS ANNE KEELER CFO & TREASURER 356733 0 0 0 3564 0 39143 0 21263 0 420703 0 0 0 MR KENNETH S SMITH COO & SECRETARY 300237 0 2500 0 3914 0 32662 32662 1525 1525 340838 34187 0 0 MR DWYN TAYLOR - BOARD MEMBER VT VP FOR FACILITIES(THRU 12/2024) 302323 0 0 0 4404 0 25734 0 8061 0 340522 0 0 0 MS TAMMY COSTIGAN CONTROLLER 178127 0 2500 0 896 0 24210 0 34706 0 240439 0 0 0 MR JAMES FORD MANAGING DIRECTOR OF IT 165817 0 16160 0 806 0 23965 0 30730 0 237478 0 0 0 MS MARY YOLANDA TRIGIANI CSO. & DIR. EXTERNAL RELATIONS 166878 0 2500 0 0 0 17665 0 8845 0 195888 0 0 0 DR JOHN DOOLEY FORMER CEO; SA VT ATHLETIC DIR 144000 0 0 0 0 0 0 0 62 62 144062 62 0 0 PART I, LINE 1A SOCIAL CLUB DUES THE FOUNDATION PROVIDES MEMBERSHIPS AT THE UNIVERSITY CLUB OF VIRGINIA TECH FOR THE FOLLOWING EMPLOYEES: KENNETH S. SMITH, ELIZABETH A. MCCLANAHAN, AND ANNE B. KEELER. THE AMOUNT IS TREATED AS TAXABLE COMPENSATION. PART I, LINE 3 COMPENSATION PROCESS THE COMPENSATION COMMITTEE OF VIRGINIA TECH FOUNDATION (VTF) BOARD OF DIRECTORS DETERMINES THE SALARY AND BENEFITS OF THE VTF CHIEF EXECUTIVE OFFICER. THE COMMITEE IS COMPRISED OF AT LEAST THREE INDEPENDENT DIRECTORS. THE COMMITTEE REVIEWS COMPARATIVE DATA ON COMPENSATION AND DOCUMENTS THE COMPENSATION DECISION CONTEMPORANEOUSLY. PART I, LINES 4A-B SEVERANCE PAYMENT THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT FROM THE ORGANIZATION: MS. TERRI T. MITCHELL - $319,838 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DR. JOHN DOOLEY PARTICIPATES IN THE VTF 457(B) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. DR. TIMOTHY SANDS, MR. CHARLES PHLEGAR, DR. AMY SEBRING, AND DR. CYRIL R. CLARKE ARE EMPLOYEES OF A RELATED ORGANIZATION, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY AND THEY RECEIVE DEFERRED COMPENSATION AS A RESULT OF THEIR EMPLOYMENT AGREEMENT WITH VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. PART I, LINE 5 COMPENSATION CONTINGENT ON REVENUES THE FOUNDATION'S INVESTMENT MANAGEMENT STAFF ARE ELIGIBLE TO RECEIVE BONUSES BASED ON THE FOUNDATION'S 3 YEAR ENDOWMENT PERFORMANCE AND RANKING. THE BONUS PROGRAM WAS APPROVED BY THE INVESTMENT COMMITTEE OF THE FOUNDATION'S BOARD OF DIRECTORS, AND THE BONUS AWARDS ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER AND PAID FROM THE FOUNDATION'S ENDOWMENT ANNUALLY. A ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY VIRGINIA 541643441 000000000 2022-10-26 5510203 SEE PART VI 0 0 0 B ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY VIRGINIA 541643441 613741KJ5 2019-11-05 62357358 SEE PART VI 0 0 0 C ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY VIRGINIA 541643441 000000000 2017-05-17 23750000 SEE PART VI 0 0 0 D ECONOMIC DEVEL AUTHORITY OF MONTGOMERY COUNTY VIRGINIA 541643441 613741GE1 2017-05-17 41889983 SEE PART VI 0 0 0 A 656441 5540319 110203 5430116 2024 0 0 1 1 B 9045000 63153130 3630655 342513 59179962 2023 0 0 1 1 C 21010000 23750000 75000 23675000 2017 1 0 1 1 D 11745000 41889983 275025 41614958 2017 1 1 1 1 A 0 1 1 1 1 1 0.00000 0.00000 0.00000 0 0 1 B 0 1 1 1 1 1 0.00000 0.00000 0.00000 0 0 1 C 0 1 0 1 1 0.00000 0.00000 0.00000 0 0 1 D 0 1 1 1 1 1 0.01500 0.00000 0.01500 0 0 1 A 0 1 1 0 0 0 0 0 1 B 1 0 0 0 0 1 C 0 0 1 0 1 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, COLUMN A, LINES A,B,C,D: THE ISSUER NAME IS ECONOMIC DEVELOPMENT AUTHORITY OF MONTGOMERY COUNTY, VIRGINIA SCHEDULE K, PART I, COLUMN F, LINE A: THE PURPOSE OF SERIES 2022 IS FINANCING NEW CONSTRUCTION SCHEDULE K, PART I, COLUMN F, LINE B: THE PURPOSE OF SERIES 2019A IS FINANCING NEW CONSTRUCTION OF VARIOUS PROJECTS SCHEDULE K, PART I, COLUMN F, LINE C: THE PURPOSE OF SERIES 2017C IS TO CURRENTLY REFUND SERIES 2005 DATED: 08/25/2005 AND SERIES 2009A DATED: 02/12/2009 SCHEDULE K, PART I, COLUMN F, LINE D: THE PURPOSE OF SERIES 2017A IS TO ADVANCE REFUND SERIES 2010A DATED: 08/26/2010, ADVANCE REFUND SERIES 2011A DATED: 11/17/2011, AND TO CURRENT REFUND THE TAXABLE COLLEGIATE SQUARE NOTE SCHEDULE K, PART II, COLUMN A, LINE 3: SERIES 2022 - THE TOTAL PROCEEDS OF THE ISSUE DIFFERS FROM ISSUE PRICE DUE TO INVESTMENT EARNINGS OF $30,116. SCHEDULE K, PART II, COLUMN B, LINE 3: SERIES 2019A - THE TOTAL PROCEEDS OF THE ISSUE DIFFERS FROM ISSUE PRICE DUE TO INVESTMENT EARNINGS OF $795,772. SCHEDULE K, PART II, COLUMN C, LINE 11: SERIES 2017C - THE OTHER SPENT PROCEEDS ARE REFUNDING PROCEEDS OF THE ISSUE NO LONGER IN ESCROW SCHEDULE K, PART II, COLUMN D, LINE 11: SERIES 2017A - THE OTHER SPENT PROCEEDS ARE REFUNDING PROCEEDS OF THE ISSUE NO LONGER IN ESCROW SCHEDULE K, PART IV, COLUMN C, LINE 2C: SERIES 2017A - DATE REBATE CALCULATION WAS PERFORMED: MAY 17, 2022. X 1 52000 FMV X 2 25900 FMV X 433 17822618 FMV X 2 450000 FMV X 1 500 FMV X EQUIPMENT 7 1516630 FMV X SOFTWARE 2 1210560 FMV X MISCELLANEOUS 28 244056 FMV X LIVESTOCK 15 80013 FMV 7 0 1 1 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B). PART I, LINE 32B: THIRD PARTIES THE FOUNDATION MAY UTILIZE REAL ESTATE BROKERS, AUCTION HOUSES, CAR DONATION PROGRAMS, OR BANKS TO SELL NONCASH CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 4 THE ARTICLES OF INCORPORATION WERE AMENDED BASED ON ACTION TAKEN BY THE BOARD OF DIRECTORS IN NOVEMBER 2025 TO REFLECT: (1) AMENDED ARTICLE III TO INCLUDE CLARIFICATION THAT THE FOUNDATION HAS AUTHORITY TO CONVEY AND DISPOSE OF REAL PROPERTY IN THE NORMAL COURSE OF BUSINESS WITH THE PROCEEDS TO BE HELD OR REINVESTED FOR THE SOLE BENEFIT OF THE UNIVERSITY; AND (2) TO UPDATE THE TITLE OF ONE EX OFFICIO MEMBER. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW VTF WORKS WITH ITS INDEPENDENT THIRD PARTY TAX CONSULTANTS TO PREPARE THE FORM 990. THE CFO AND CONTROLLER PERFORM A DETAILED REVIEW OF THE FORM PRIOR TO THE CEO'S REVIEW. A COPY OF THE COMPLETE FORM 990 IS PROVIDED TO THE FULL BOARD PRIOR TO FILING WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY VIRGINIA TECH FOUNDATION, INC. (VTF) HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRES EACH MEMBER (FOUNDATION BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES (RESPONSIBLE PERSONS)) TO COMPLETE AN ANNUAL STATEMENT SETTING FORTH ANY AND ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST THAT OCCURRED DURING THE PAST FISCAL YEAR. IN ADDITION TO THE STATEMENT, AN ANNUAL COMPLIANCE QUESTIONNAIRE MUST BE COMPLETED AND SUBMITTED BY EACH DIRECTOR. ALSO, IF A CONFLICT SHOULD ARISE THAT WAS NOT PREVIOUSLY DISCLOSED IN THE ANNUAL STATEMENT OR THE QUESTIONNAIRE, A STATEMENT MUST BE SUBMITTED TO THE CHAIR AND VICE CHAIR OF THE BOARD OF DIRECTORS DISCLOSING THE FACTS OF THE SITUATION. THE CHAIR AND VICE CHAIR OF THE BOARD OF DIRECTORS WILL REVIEW THE QUESTIONNAIRES AND STATEMENTS AND DETERMINE IF A CONFLICT EXISTS. IF THE DISCLOSING PERSON DOES NOT AGREE WITH THAT DECISION, HE OR SHE MAY REQUEST CONSIDERATION BY THE EXECUTIVE COMMITTEE OF THE VTF BOARD OF DIRECTORS. ANY INDIVIDUAL WITH A CONFLICT OF INTEREST WILL RECUSE HIMSELF OR HERSELF FROM DELIBERATIONS REGARDING THE RELEVANT MATTER. THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TO RATIFY THE DECISION OF THE CHAIR AND VICE CHAIR OF THE BOARD AND APPROVE THE ARRANAGMENT OR TRANSACTION, AND ANY CONDITIONS OR LIMITATIONS, BASED ON THE ARRANGEMENT OR TRANSACTION, BASED SOLELY ON WHETHER IT IS IN THE BEST INTERESTS OF VTF IN PERFORMING ITS MISSION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS THE COMPENSATION COMMITTEE OF VIRGINIA TECH FOUNDATION (VTF) BOARD OF DIRECTORS DETERMINES THE SALARY AND BENEFITS OF THE VTF CHIEF EXECUTIVE OFFICER. THE COMMITTEE IS COMPRISED OF AT LEAST THREE INDEPENDENT DIRECTORS. THE COMMITTEE REVIEWS COMPARATIVE DATA ON COMPENSATION AND DOCUMENTS THE COMPENSATION DECISION CONTEMPORANEOUSLY. COMPENSATION FOR ALL OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE CHIEF EXECUTIVE OFFICER, AND ANY ADJUSTMENTS DURING THE ANNUAL BUDGET PROCESS ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER, FOLLOWING REVIEW OF COMPARATIVE SALARIES AND BENEFITS. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION'S DOCUMENTS OPEN TO THE PUBLIC IN FULL COMPLIANCE WITH IRS VTF MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE EXTENT REQUIRED BY LAW. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT INTEREST AGREEMENTS 2,588,859. CHANGE IN DEFERRED TAX LIABILITY -6,744,293. OTHER CHANGES IN NET ASSETS 187,719. 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