2016-05-12T15:36:39-05:00 2015-06-30 KPMG LLP 1676 International Drive McLean VA 22102 990 2014-07-01 540721690 VIRGINIA TECH FOUNDATION INC % DR JOHN E DOOLEY VIRG 5402375751 902 PRICES FORK ROAD BLACKSBURG VA 24061 JOHN E DOOLEY CEO AND SECRETARY-TREASURER 5402315751 2016-05-11 true RAYMOND LY P01205643 7032868000 2016-05-11 2014 2016-08-17 19:52:53Z DR JOHN E DOOLEY 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 618683245 false X WWW.VTF.VT.EDU X 1948 VA THE FOUNDATION RECEIVES, MANAGES, AND DISBURSES PRIVATE GIFTS IN SUPPORT OF PROGRAMS AT VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). 35 31 123 0 2562781 81098266 98537794 19461335 19232398 55758178 61358214 15601213 18040012 171918992 197168418 25102043 25040484 0 0 5475902 5611031 0 0 8197098 85280160 96462915 115858105 127114430 56060887 70053988 1469020451 1488911823 438648960 417064535 1030371491 1071847288 X THE FOUNDATION RECEIVES, INVESTS, AND MANAGES PRIVATE ASSETS HELD FOR THE SUPPORT OF PROGRAMS AT VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (UNIVERSITY) AND TO FOSTER AND PROMOTE THE GROWTH, PROGESS AND GENERAL WELFARE OF THE UNIVERSITY. false false 105052141 25040484 28100454 VIRGINIA TECH FOUNDATION SUPPORTS THE PROGRAMS OF VIRGINIA TECH. THE FOUNDATION DOES THIS BY GENERATING FUNDING FROM PRIVATE SOURCES AND AGGRESSIVELY MANAGING ITS ASSETS TO SUPPLEMENT STATE APPROPRIATIONS, TUITION, AND OTHER SOURCES OF FUNDS. THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO STUDENTS, ADDITIONAL OPERATING SUPPORT TO COLLEGES AND DEPARTMENTS, ASSISTS IN THE FUNDING OF MAJOR BUILDING PROJECTS, PROVIDES SEED CAPITAL FOR NEW UNIVERSITY INITIATIVES, AND INITIATES MAJOR PROJECTS AS REQUESTED BY THE UNIVERSITY. FOR MORE INFORMATION, SEE SCHEDULE O. 105052141 true true false true false false false true false true true true false true true false true true false true true false false false false false false true false true true false false false false false false false false false false true true false false true true true true false false true X 301 0 true 123 true true true true SZ false false false true true true 2 false false true false X 35 31 false false false false false false false true true false false true true true true true true true false true true VA X DR JOHN E DOOLEY 5402315751 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 BEN J DAVENPORT JR CHAIRMAN 2.0 0.0 X X 0 0 0 DR ELIZABETH A FLANAGAN EXECUTIVE VICE PRESIDENT 2.0 38.0 X X 0 323308 51222 M DWIGHT SHELTON EXECUTIVE VICE PRESIDENT 2.0 38.0 X X 0 316161 101253 DR JOHN E DOOLEY CEO and SECRETARY TREASURER 30.0 10.0 X X 302500 0 36688 NANCY H AGEE BOARD MEMBER 2.0 0.0 X 0 0 0 JAMES K ASSELSTINE BOARD MEMBER 2.0 0.0 X 0 0 0 MARY BLACKWOOD BOARD MEMBER 2.0 0.0 X 0 0 0 SANDRA C DAVIS BOARD MEMBER 2.0 0.0 X 0 0 0 DR AMY G HAYES BOARD MEMBER 2.0 0.0 X 0 0 0 GREG J HERREMA BOARD MEMBER 2.0 0.0 X 0 0 0 DAVID L CALHOUN BOARD MEMBER 2.0 0.0 X 0 0 0 GEORGE B CLARKE IV BOARD MEMBER 2.0 0.0 X 0 0 0 MICHAEL W CLARKE BOARD MEMBER 2.0 0.0 X 0 0 0 DOUGLAS C CURLING BOARD MEMBER 2.0 0.0 X 0 0 0 THEODORE S HANSON BOARD MEMBER 2.0 0.0 X 0 0 0 DARRELL D MARTIN BOARD MEMBER 2.0 0.0 X 0 0 0 LEONARD P HARRIS BOARD MEMBER 2.0 0.0 X 0 0 0 ROBERT D MOSER JR BOARD MEMBER 2.0 0.0 X 0 0 0 W TODD HOLTZMAN BOARD MEMBER 2.0 0.0 X 0 0 0 SHAWN C JOHNSON BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN R LAWSON II BOARD MEMBER 2.0 0.0 X 0 0 0 JAMES E PEARMAN JR BOARD MEMBER 2.0 0.0 X 0 0 0 JAMES A PEARSON BOARD MEMBER 2.0 0.0 X 0 0 0 BRANDON D PERRY BOARD MEMBER 2.0 0.0 X 0 0 0 DEBORAH PETRINE BOARD MEMBER 2.0 0.0 X 0 0 0 DR JOHN B ROWSELL BOARD MEMBER 2.0 0.0 X 0 0 0 KRISTI L ROWSELL BOARD MEMBER 2.0 0.0 X 0 0 0 PETER M RUP BOARD MEMBER 2.0 0.0 X 0 0 0 DR WINSTON A SAMUELS BOARD MEMBER 2.0 0.0 X 0 0 0 BENJAMIN Z STALLINGS II MD BOARD MEMBER 2.0 0.0 X 0 0 0 DR TIMOTHY D SANDS BOARD MEMBER 2.0 38.0 X 0 361832 55200 FAY H STREET BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN A URQUHART JR BOARD MEMBER 2.0 0.0 X 0 0 0 CARL G VERBONCOEUR BOARD MEMBER 2.0 0.0 X 0 0 0 MATTHEW M WINSTON JR BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN CUSIMANO UNIVERSITY TREASURER 40.0 0.0 X 0 224368 45002 KEVIN SULLIVAN AVP FOR ADMIN & GEN COUNSEL 40.0 0.0 X 172333 0 42421 TERRI T MITCHELL AVP FOR ADMIN & CONTROLLER 40.0 0.0 X 161333 0 22756 JACOB HARDWICK DIRECTOR OF GOLF OPERATIONS 40.0 0.0 X 110856 0 25552 EBENHARD STODDARD SENIOR INVESTMENT ANALYST 40.0 0.0 X 134331 0 27215 DANIEL WARD DIRECTOR OF INVESTMENTS 40.0 0.0 X 299658 0 58908 1181011 1225669 466217 18 false true false ENGLISH CONSTRUCTION COMPANY 615 CHURCH STREET LYNCHBURG VA 24504 CONST. 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SERVICES 2297863 ARTISAN PARTNERS LIMITED PARTNERSHI 875 E WISCONSIN AVE SUITE 800 MILWAUKEE WI 53202 INV MGMT SERVICES 395937 UNCORK-IT INC 1971 KRAFT DR SUITE 2600 BLACKSBURG VA 24060 WEBSITE DESIGN 333000 NATIONAL PUBLIC RADIO PRSS-635 MASSACHUSETTS AVED WASHINGTON DC 20001 RADIO PROG FEES 329921 21 98537794 14516968 98537794 SALES 900099 1286203 1286203 INTERNAL AUDIT SERVICES 900099 81765 81765 AFFILIATE MEMBERSHIP PROGRAM 900099 7166870 7166870 DEVELOPMENT & MANAGEMENT ENDOWMENT FEES 900099 1107745 1107745 COOPERATIVE EXTENSION INCOME 900099 257748 257748 9332067 9264068 845164 19232398 24547319 1684906 22862413 16218 16218 566571 566571 22013405 13566230 8447175 0 8447175 8447175 444628798 407834121 36794677 36794677 36794677 0 0 171976 114476 57500 57500 ALUMNI TOURS 900099 32711 32711 OTHER INV INCOME - EQUITY IN SUB 900099 5152953 5152953 RADIO STATION 900099 173399 173399 3609703 3609703 8968766 197168418 28100454 2562781 68744554 25040484 25040484 0 0 0 339188 339188 0 4044065 1808242 2235823 0 0 1227778 43668 1184110 0 179713 157718 21882 113 115530 115530 163188 163188 0 986109 986109 0 568701 517483 7932 43286 2638034 1755152 134625 748257 315904 78939 121879 115086 0 893580 788421 52917 52242 3286645 2378133 37867 870645 0 213555 175760 22034 15761 5454557 409880 5044677 0 2699725 2693011 6714 637235 489346 146369 1520 OTHER UNIV OPERATING SUPPORT 30346578 30219383 828 126367 UNIV SALARY WAGE BEN SUPP 19083481 14568974 815 4513692 UNIVERSITY SPONSPORED RESEARCH 7902757 7859728 43029 SENEGAL OPERATING EXPENSES 4825227 1589313 3235914 16152396 13329209 1156087 1667100 127114430 105052141 13865191 8197098 0 0 42897906 25089439 82567654 99115351 3421630 1889754 0 0 0 0 171442188 174268083 2567257 2130828 3910866 4672476 192569968 49284571 160147372 143285397 311346847 368358729 598698131 571402631 0 0 42341 0 91978259 98699135 1469020451 1488911823 9155914 6244770 0 0 18199454 7435738 163969299 254998502 0 0 0 0 103620842 7591021 0 0 143703451 140794504 438648960 417064535 X 184542265 196710577 417071157 420326806 428758069 454809905 1030371491 1071847288 1469020451 1488911823 X 70053988 -24817032 -3761159 X false true X true false X 101159266 73762659 83621867 81098266 98537794 438179852 0 0 101159266 73762659 83621867 81098266 98537794 438179852 0 438179852 23385828 28222047 32798781 35359428 45955592 165721676 0 16051 2091413 6866832 8974296 612875824 87100662 0.71496 0.73410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 163188 163188 163188 32638 8160 130550 1000000 1000000 1000000 32638 3032638 4548957 278151 383307 214717 163188 1039363 250000 250000 250000 8160 758160 1137240 0 0 181047 5443166 X X false false 753590316 29953270 27969920 13143276 17071442 9539306 771759482 611230051 45600524 137144459 14131425 18231276 8022017 753590316 547327438 21087458 87429015 23677931 14331471 6604458 611230051 556200384 19062000 6695606 12154413 15468599 7007540 547327438 460538071 37354365 90947983 11631505 13854804 7153726 556200384 0.04110 0.43530 0.52360 false false 0 28966447 28966447 0 131548949 38106384 93442565 0 650576 386277 264299 0 10009476 5595070 4414406 0 21394520 5196840 16197680 143285397 PARTNERSHIP INVESTMENTS 484721538 F REAL ESTATE INVESTMENTS 36418986 F OTHER INVESTMENTS 50262107 F 571402631 DIRECT FINANCING LEASES 34732675 IRR. TRUSTS HELD BY OTHERS 10900531 COLLECTION ITEMS 5434118 DUE FROM SUBSIDIARIES 3139853 BOND DEBT COST OF ISSUANCE 1832337 TRUST INVESTMENT RECEIVABLE 42621754 PATENT 37867 98699135 0 AGENCY DEPOSITS HELD IN TRUST 108571406 TRUST PAYMENT LIABILITIES 17484111 THIRD PARTY TRUST OBLIGATIONS 8525083 ANNUITY OBLIGATIONS 6213904 140794504 X COLLECTIONS OF ART SCHEDULE D, PART III, LINE 4 VINTAGE AND OTHER COLLECTION ITEMS ARE USED TO SUPPORT THE EDUCATIONAL AND RESEARCH MISSION OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 3,379 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. INCOME TAXES SCHEDULE D, PART X 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. THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. 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. THE ONLY PERIODS SUBJECT TO EXAMINATION ARE THE 2014 THROUGH 2015 TAX YEARS. Europe (Including Iceland and Greenland) 1 PROGRAM SERVICES RENT 282459 Sub-Saharan Africa INVESTMENTS 1489546 1 1 1772005 1772005 1 true false true true true false African Investments and Expenditures Schedule F, Part I, Line 3 The amount of investments in Sub-Saharan Africa totaled $84,014 and the amount of expenditures totaled $1,589,546. true VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 150 STUDENT SERVICES BUILDING BLACKSBURG VA 24061 546001805 501 (C)(3) 25040484 SCHOLARSHIPS 1 SCHOLARSHIPS SCHEDULE I, PART I, LINE 2 THE FOUNDATION MAKES GRANTS TO PROVIDE SCHOLARSHIPS TO STUDENTS OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). X X X X X X false false false false false false false false false DR ELIZABETH A FLANAGAN EXECUTIVE VICE PRESIDENT 0 313308 0 10000 0 0 0 0 0 0 0 323308 0 0 M DWIGHT SHELTON EXECUTIVE VICE PRESIDENT 0 316161 0 0 0 0 0 0 0 0 0 316161 0 0 DR JOHN E DOOLEY CEO and SECRETARY TREASURER 302500 0 0 0 0 0 0 0 0 0 302500 0 0 0 DR TIMOTHY D SANDS BOARD MEMBER 0 282156 0 79676 0 0 0 0 0 0 0 361832 0 0 JOHN CUSIMANO UNIVERSITY TREASURER 0 224368 0 0 0 0 0 0 0 0 0 224368 0 0 KEVIN SULLIVAN AVP FOR ADMIN & GEN COUNSEL 172333 0 0 0 0 0 0 0 0 0 172333 0 0 0 TERRI T MITCHELL AVP FOR ADMIN & CONTROLLER 161333 0 0 0 0 0 0 0 0 0 161333 0 0 0 EBENHARD STODDARD SENIOR INVESTMENT ANALYST 134331 0 0 0 0 0 0 0 0 0 134331 0 0 DANIEL WARD DIRECTOR OF INVESTMENTS 299658 0 0 0 0 0 0 0 0 0 299658 0 0 0 A Economic Dev Authority of Montgomery County 541643441 613741BN6 2010-08-26 57123909 Construction false false false B IDA Montgomery County VA 541643441 613755BN6 2009-02-12 73380000 2007 Facilities to support VA false false false C IDA Montgomery County VA 541643441 613755BJ5 2005-08-25 49830000 2005 Facilities to support the Uni false false false D Economic Dev Authority of Montgomery County 541643441 613741DK0 2011-11-17 55889603 Construction false false false A 5249995 0 57123909 0 0 48147100 501809 0 0 8475000 0 0 2010 true false true true B 9305000 0 73380000 366256 0 24480000 515259 0 0 48384741 0 0 2010 true false true true C 24450000 0 49830000 602421 0 31320000 188741 0 0 18321259 0 0 2007 true false true true D 3870000 0 55889603 74733 0 4245604 388987 0 0 51255012 0 0 2013 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A false true false false 0 false 0 false true B false true true true Morgan Keegan 3.67 false 0 false true C false true true true Bank of America 16.75 false 0 false true D false true false false 0 false 0 false true A true B true C true D true Part IV, Line 4a Bond B: Both Morgan Keegan and Suntrust are swap providers. Bond C: Both Bank of America and Wells Fargo are swap providers. A Economic Dev Authority of Montgomery County VA 541643441 999999999 2012-12-27 4365000 Partial Current Ref of Series 2005 false false false B Economic Dev Authority of Montgomery County VA 541643441 613741EN3 2013-10-30 18650559 Construction false false false A 1265542 0 4365000 0 0 4365000 0 0 0 0 0 0 2007 true false false true B 720000 0 18650559 17995 0 0 219381 0 0 18431178 0 0 2015 false false true A false false false false 0 false false false true B false false false false 0 false false false true A false true false false false 0 false 0 false true B false true false false false 0 false false false 0 false true A true B true X 10 17100 FMV X 5703 FMV X 127916 FMV X 3 29481 X 325 8266801 FMV X 1 5000 X 10 1360000 FMV X 3 589821 X 28 14500 FMV X 7 515 FMV X 6 36645 FMV X Livestock 25 344701 FMV X Equipment 8 1119768 FMV X Misc 151 2599017 FMV 18 false true true Line 32a Various Real Estate Brokers are utilized to assist with the sale of donated properties. EXEMPT PURPOSE ACHIEVEMENTS PART III, LINE 4A IN ADDITION, THE FOUNDATION MANAGES VIRGINIA TECH'S ENDOWMENT, THROUGH WHICH DONORS TO THE UNIVERSITY MAKE A SIGNIFICANT DIFFERENCE TO THE FACULTY AND STUDENTS. THE FOUNDATION IS ALSO A RESPONSIBLE CORPORATE CITIZEN. AS SUCH, THE FOUNDATION DEPLOYS CAPITAL IN WAYS THAT SERVE THE INTERESTS NOT ONLY OF THE UNIVERSITY, BUT ALSO OF ITS REGION. REVIEW OF FORM 990 PART VI, 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. CONFLICT OF INTEREST POLICY Part VI Line 12c 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. COMPENSATION PRACTICES PART VI, LINE 15 Board of Directors DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. OFFICERS - EXECUTIVE VICE PRESIDENTS EXECUTIVE VICE PRESIDENTS OF THE FOUNDATION ARE THE UNIVERSITY'S VICE PRESIDENT FOR DEVELOPMENT AND UNIVERSITY RELATIONS, 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. JOINT VENTURE PART VI, LINE 16B THE FOUNDATION ADOPTED A JOINT VENTURE POLICY ON SEPTEMBER 1, 2009. THE POLICY REQUIRES THAT THE FOUNDATION EVALUATE ITS PARTICIPATION IN JOINT VENTURE AGREEMENTS UNDER FEDERAL TAX LAW AND TAKE STEPS TO SAFEGUARD THE FOUNDATION'S EXEMPT STATUS WITH RESPECT TO SUCH ARRANGEMENTS. OTHER CHANGE IN NET ASSETS PART XI, LINE 9 Change in Split-Interest Agreements.........................$ -3,761,159 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:IND AND PROF SERVICES TOTAL EXPENSES:2046895 PROGRAM SERVICES:1909759 MANAGEMENT AND GENERAL:32482 FUNDRAISING:104654 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:TAXES TOTAL EXPENSES:68314 PROGRAM SERVICES:68314 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MEALS AND ENTERTAINMENT TOTAL EXPENSES:3472272 PROGRAM SERVICES:3063776 MANAGEMENT AND GENERAL:24671 FUNDRAISING:383825 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:RADIO STATION TOTAL EXPENSES:1440608 PROGRAM SERVICES:922695 MANAGEMENT AND GENERAL:278654 FUNDRAISING:239259 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ANNUITY DEFERRED GIVING TOTAL EXPENSES:72993 PROGRAM SERVICES:72993 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PROFESSIONAL MEMBERSHIPS TOTAL EXPENSES:298937 PROGRAM SERVICES:233824 MANAGEMENT AND GENERAL:17900 FUNDRAISING:47213 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PUBLIC RELATIONS TOTAL EXPENSES:1541204 PROGRAM SERVICES:996386 MANAGEMENT AND GENERAL:4237 FUNDRAISING:540581 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:UNIVERSITY EQUIPMENT PURCHASE TOTAL EXPENSES:1322872 PROGRAM SERVICES:1213786 MANAGEMENT AND GENERAL:16622 FUNDRAISING:92464 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:NON-MONETARY SUPPORT TO PROG TOTAL EXPENSES:2580813 PROGRAM SERVICES:2575813 FUNDRAISING:5000 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:RIVERCOURSE TOTAL EXPENSES:1114555 PROGRAM SERVICES:411511 MANAGEMENT AND GENERAL:703044 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MAINTENANCE TOTAL EXPENSES:632364 PROGRAM SERVICES:599449 MANAGEMENT AND GENERAL:4834 FUNDRAISING:28081 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:OTHER EQUIPMENT RENTALS TOTAL EXPENSES:197212 PROGRAM SERVICES:114713 MANAGEMENT AND GENERAL:1692 FUNDRAISING:80807 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:MISC TOTAL EXPENSES:1363357 PROGRAM SERVICES:1146190 MANAGEMENT AND GENERAL:71951 FUNDRAISING:145216 RIVER COURSE LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 061654343 GOLF COURSE VA 1018575 10256455 NA VT TECHNOLOGY ASSETS LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 540721690 INFO TECH VA 3399515 6814337 NA VA TECH BUS TECH CENTER LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 540567560 BUS ASSIST VA 8667 0 NA VA TECH REAL ESTATE FOUNDATION INC 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 541528809 PROPERTY MGMT VA 501 (C) (3) 11A TYPE I NA true VIRGINIA POLYTECHNIC INST & STATE UNIV 201 SOUTHGATE CENTER BLACKSBURG VA 24061 545001805 UNIVERSITY VA 501 (C) (3) 2 NA false THE FERRARI FOUNDATION 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 EUROPEAN STUD SZ NA true HOTEL ROANOKE LLC 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 541702473 HOTEL OPERATIONS VA NA VIRGINIA TECH CORPORATE RESEARCH CENTER 1715 PRATT DRIVE SUITE 1000 BLACKSBURG VA 24061 541324469 RENTAL VA VTF C Corp 5526616 16667059 1.00000 true CHARITABLE REMAINDER UNITRUSTS 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 TRUST VA NA Trust true HR FOUNDATION INC 902 PRICES FORK RD SUITE 4000 BLACKSBURG VA 24061 541702474 PROPERTY MGMT VA VTREF C Corp true true true true true false true false false false false true true true false false true true false false VIRGINIA TECH CORPORATE RESEARCH CENTER l 486090 FMV VIRGINIA TECH REAL ESTATE FOUNDATION l 421415 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER a(iv) 1357884 FMV VIRGINIA TECH REAL ESTATE FOUNDATION a(iv) 333225 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER l 59127 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER a(i) 307739 FMV VIRGINIA TECH REAL ESTATE FOUNDATION a(i) 5511963 FMV VIRGINIA TECH CORPORATE RESEARCH CENTER a(i) 54530 FMV