2021-05-16T11:46:10-05:00 2020-06-30 540504608 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN STREET SW ROANOKE VA 24014 990 2019-07-01 541528809 VIRGINIA TECH REAL ESTATE FOUNDATION INC VIRG 5402315751 902 PRICES FORK RD NO 4000 BLACKSBURG VA 24061 DR JOHN E DOOLEY CEO & SECRETARY-TREASURER 5402315751 2021-05-14 1 JEFFREY G BARBOUR P01331383 5403450936 2021-05-13 2019 2022-09-23 18:48:47Z DR JOHN E DOOLEY 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 18365382 0 X N/A X 1989 VA THE ORGANIZATION ENGAGES IN ANY AND ALL MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). 9 7 0 0 0 0 0 0 15904162 18227624 0 137758 0 0 15904162 18365382 0 0 0 0 399477 363780 0 0 0 9569588 9304864 9969065 9668644 5935097 8696738 185879574 203226360 129136342 136753837 56743232 66472523 VIRGINIA TECH REAL ESTATE FOUNDATION, INC. (VTREF) WAS ORGANIZED SOLELY FOR THE BENEFIT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION, INC. VTREF IS TO ENGAGE IN MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY. 0 0 6251990 18227624 VTREF ENGAGED IN ACTIVITIES PERTAINING TO THE OWNERSHIP, DEVELOPMENT AND OPERATION OF VARIOUS PROPERTIES IN SUPPORT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION. 6251990 1 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DR JOHN E DOOLEY 5402315751 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 SANDRA C DAVIS CHAIRMAN 2.00 X X 0 0 0 DR JOHN E DOOLEY CEO & SECRETARY-TREASURER 2.00 38.00 X X 0 485587 0 DR DEBORAH A KOLLER DIRECTOR 2.00 X 0 0 0 DESERIA CREIGHTON-BARNEY DIRECTOR 2.00 X 0 0 0 BRANDON D PERRY DIRECTOR 2.00 X 0 0 0 JAY S POOLE DIRECTOR 2.00 X 0 0 0 DR TIMOTHY D SANDS DIRECTOR 2.00 40.00 X 0 614595 324924 HORACIO A VALEIRAS DIRECTOR 2.00 X 0 0 0 WILLIAM HANSON WEST JR DIRECTOR 2.00 X 0 0 0 0 1100182 324924 0 0 1 0 WM JORDAN DEVELOPMENT LLC 11010 JEFFERSON AVE NEWPORT NEWS VA 23601 CONSTRUCTION SERVICES 3546377 KESLER CONTRACTING & PROPERTY MANAGEMENT PO BOX 466 RINER VA 24148 CONSTRUCTION SERVICES 447426 JANITORIAL MAINTENANCE SOLUTIONS PO BOX 13562-3562 ROANOKE VA 24035 JANITORIAL SERVICES 286149 GILBANE BUILDING COMPANY 1001 BOULDERS PKWY RICHMOND VA 23225 CONSTRUCTION SERVICES 245783 EC PACE COMPANY INC 1660 HUGUENOT RD MIDLOTHIAN GA 23113 CONSTRUCTION SERVICES 161281 5 VIRGINIA TECH RESEARCH CENTER 532000 8518144 8518144 NORTH END CENTER 532000 6456309 6456309 UNIVERSITY GATEWAY CENTER 532000 1651088 1651088 HOTEL ROANOKE 721110 1440349 1440349 OTHER PROGRAM SERVICE REVENUE 532000 161734 161734 18227624 137758 137758 18365382 18227624 0 137758 309764 309764 5869 5869 40716 40716 7431 7431 728 728 5200 5200 815971 815971 5744 5744 18165 18165 768285 768285 17341 17341 4052393 4052393 2199597 2199597 70822 70822 MAINTENANCE 1248743 1248743 MISC EXPENSES 86933 86933 TAXES 11077 11077 ORGANIZATION MEMBERSHIP 3865 3865 9668644 6251990 3416654 0 9580083 14101999 208943 444039 1164556 1650698 194860 130036 133508694 19392167 103161959 114116527 28903078 30707023 400050 374650 42266045 41701388 185879574 203226360 103191 723844 1391062 2764444 127126260 132557097 515829 708452 129136342 136753837 X 52075264 61804555 4667968 4667968 56743232 66472523 185879574 203226360 X 8696738 563529 469024 X X 0 1 X 1 0 X X 2 VIRGINIA TECH FOUNDATION 540721690 7 1 0 0 VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY 546001805 2 1 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART I, LINE 12G, COLUMN (VI) THE EXPENSES INCURRED BY VIRGINIA TECH REAL ESTATE FOUNDATION, INC. THAT ARE REPORTED ON FORM 990, PART IX WERE EXPENDED TO PROVIDE SUPPORT AND MANAGEMENT TO ITS SUPPORTED ORGANIZATIONS. 39512389 39512389 92466160 18327812 74138348 1391504 996832 394672 138641 67523 71118 114116527 INVESTMENT IN SUBSIDIARIES 30707023 C 30707023 LEASES RECEIVABLE 40119424 DUE FROM SUBSIDIARY 1177096 VINTAGE AND OTHER COLLECTION 4868 REAL ESTATE 400000 41701388 DUE TO PARENT COMPANY 684768 OTHER LIABILITIES 10000 SECURITY DEPOSIT 13684 708452 X PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT VTF AND VTREF QUALIFY UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND ARE, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. 0 0 0 0 0 0 0 0 0 DR JOHN E DOOLEY CEO & SECRETARY-TREASURER 0 452140 0 30356 0 3091 0 0 0 0 0 485587 0 0 DR TIMOTHY D SANDS DIRECTOR 0 583384 0 20000 0 11211 0 290026 0 34898 0 939519 0 0 FORM 990, PART VI, SECTION A, LINE 6 ACCORDING TO THE ORGANIZATION'S ARTICLES OF INCORPORATION, ARTICLES V AND VI, 6.1(II), THE SOLE MEMBER OF THE ORGANIZATION SHALL BE VIRGINIA TECH FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A ACCORDING TO THE ORGANIZATION'S ARTICLES OF INCORPORATION, ARTICLES V AND VI, 6.1(II), THE BOARD OF DIRECTORS SHALL BE ELECTED BY THE SOLE MEMBER, VIRGINIA TECH FOUNDATION INC. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT AND THE FOUNDATION ACCOUNTING STAFF PROVIDE THE NECESSARY FINANCIAL AND OTHER INFORMATION TO THE FOUNDATION'S INDEPENDENT THIRD PARTY TAX CONSULTANTS. THE TAX CONSULTANTS REVIEW AND COMPILE THE INFORMATION INTO THE 990 AND 990T FORMS AND PROVIDE A DRAFT TO MANAGEMENT. MANAGEMENT AND THE ASSOCIATE VICE PRESIDENT AND CONTROLLER PERFORM A DETAILED REVIEW OF THE FORM PRIOR TO FORWARDING IT TO THE CEO FOR REVIEW. THE CEO THEN REVIEWS THE FORMS. ANY ISSUES AFTER THESE REVIEWS ARE COMMUNICATED BACK TO THE THIRD PARTY TAX CONSULTANTS. ANY ISSUES ARE CORRECTED AND ADDRESSED BY BOTH PARTIES. TWO WEEKS PRIOR TO THE FILING DEADLINE, THE FORMS ARE ELECTRONICALLY PROVIDED TO ALL MEMBERS OF THE FOUNDATION BOARD OF DIRECTORS. IF THERE ARE NO COMMENTS OR ISSUES THAT COULD NOT BE RESOLVED, THE CHIEF EXECUTIVE OFFICER THEN SIGNS THE TRANSMITTAL FORM TO PERMIT THE ELECTRONIC FILING, AS REQUIRED BY THE IRS, ON BEHALF OF THE FOUNDATION. DISCLOSURE OF THE 990 AND 990T WILL BE MADE IN FULL COMPLIANCE WITH THE REQUIREMENTS ESTABLISHED BY THE IRS. FORM 990, PART VI, SECTION B, LINE 12C VIRGINIA TECH REAL ESTATE FOUNDATION FOLLOWS THE VIRGINIA TECH FOUNDATION CONFLICT OF INTEREST POLICY. THE VIRGINIA TECH FOUNDATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRES EACH MEMBER (FOUNDATION BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES (RESPONSIBLE PERSONS)) TO COMPLETE AN ANNUAL STATEMENT SETTING FORTH ANY AND ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST THAT OCCURRED DURING THE PAST FISCAL YEAR. IN ADDITION TO THE STATEMENT, AN ANNUAL COMPLIANCE QUESTIONNAIRE MUST BE COMPLETED AND SUBMITTED BY EACH MEMBER. ALSO, IF A CONFLICT SHOULD ARISE THAT WAS NOT PREVIOUSLY DISCLOSED IN THE ANNUAL STATEMENT OR THE QUESTIONNAIRE, A STATEMENT MUST BE SUBMITTED TO THE VIRGINIA TECH FOUNDATION DISCLOSING THE FACTS OF THE SITUATION. THE EXECUTIVE COMMITTEE OF THE FOUNDATION REVIEWS THE QUESTIONNAIRES AND STATEMENTS AND WILL DETERMINE IF A CONFLICT DOES ACTUALLY EXIST. THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TO AUTHORIZE APPROVE OR RATIFY THE ARRANGEMENT/TRANSACTION BASED SOLELY ON WHETHER IT IS IN THE BEST INTERESTS OF THE FOUNDATION IN PERFORMING ITS MISSION. FORM 990, PART VI, SECTION B, LINE 15 VIRGINIA TECH REAL ESTAE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. ITS DIRECTORS, IF COMPENSATED, RECEIVE COMPENSATION FROM VIRGINIA TECH. ITS CHIEF EXECUTIVE OFFICER IS COMPENSATED BY VIRGINIA TECH FOUNDATION. THEREFORE THE NARRATIVES BELOW DESCRIBE THE COMPENSATION PROCESSES OF THE VTREF RELATED ORGANIZATIONS. OFFICERS - EXECUTIVE VICE PRESIDENTS OFFICERS OF THE FOUNDATION ARE THE UNIVERSITY'S VICE PRESIDENT FOR ADVANCEMENT, AND CHIEF FINANCIAL OFFICER. THESE POSITIONS ARE EMPLOYED BY AND FUNDED 100% BY THE UNIVERSITY AND THEIR SALARIES AND BENEFITS ARE APPROVED BY THE UNIVERSITY'S BOARD OF VISITORS BASED UPON RECOMMENDATION BY THE UNIVERSITY PRESIDENT. THE UNIVERSITY UTILIZES VARIOUS HIGHER EDUCATION SALARY STUDIES AND DATA FROM PEER INSTITUTIONS IN ESTABLISHING SALARIES AND BENEFITS FOR THESE POSITIONS. OFFICER - CHIEF EXECUTIVE OFFICER AND SECRETARY/TREASURER SALARY AND BENEFITS FOR THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER ARE RECOMMENDED BY THE UNIVERSITY PRESIDENT AND APPROVED BY THE FOUNDATION'S COMPENSATION COMMITTEE. COMPARATIVE SALARY AND BENEFITS INFORMATION IS PROVIDED TO THE COMPENSATION COMMITTEE FOR ITS CONSIDERATION IN MAKING SALARY ADJUSTMENTS AND ESTABLISHING BENEFIT PROGRAMS. PROFESSIONAL AND CLASSIFIED STAFF IT IS THE FOUNDATION'S POLICY TO PROVIDE SALARY AND BENEFITS AS CLOSE AS PRACTIBLE TO THOSE PROVIDED TO UNIVERSITY EMPLOYEES. PROFESSIONAL AND CLASSIFIED STAFF SALARIES ARE APPROVED BY THE CHIEF EXECUTIVE OFFICER AND SECRETARY TREASURER AND INCLUDED IN THE BOARD APPROVED ANNUAL OPERATING BUDGET. COMPARATIVE DATA INCLUDING UNIVERSITY AVERAGES FOR SIMILAR POSITIONS ARE USED IN ESTABLISHING AND ADJUSTING SALARIES. MERIT ADJUSTMENTS MIRROR THE UNIVERSITY APPROVED MERIT ADJUSTMENTS EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION DOES NOT MAKE IT'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. ANY SUCH REQUESTS WOULD BE CONSIDERED ON A CASE BY CASE BASIS. FORM 990, PART XI, LINE 9: DISTRIBUTION TO VIRGINIA TECH FOUNDATION -405,306. DISTRIBUTION FROM VIRGINIA TECH FOUNDATION 874,330. PART XII, LINE 2C THERE WERE NO CHANGES FROM THE PRIOR YEAR. 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