2025-11-17T15:24:10+00:00 2024-12-31 135381590 BDO USA 300 E MAIN STREET STE 1300 NORFOLK VA 23510 990 2024-01-01 546052014 OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION OLDD 7576834524 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 ALONZO C BRANDON EXECUTIVE DIRECTOR 2025-11-17 true TODD TERESCO P00247720 7576407190 2025-11-17 2024 2025-03-06 01:10:19Z ALONZO BRANDON 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 111390691 false X https://www.odufoundation.com/ X 1955 VA OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION WAS ESTABLISHED TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF ODU. 24 24 0 31 471154 26365746 28808316 0 0 6617612 15967364 793676 832813 33777034 45608493 14427898 19266562 0 0 0 0 0 0 744225 3574910 3387979 18002808 22654541 15774226 22953952 374805050 412433348 75111233 78378801 299693817 334054547 OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION WAS ESTABLISHED TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. false false 19403123 19266562 869974 TO ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY TO SUPPORT THE MISSION, OBJECTIVES AND PROGRAMS OF OLD DOMINION UNIVERSITY. THE FOUNDATION PROVIDES SUPPLEMENTAL FUNDS TO HELP DEFRAY OPERATING COSTS OF ACADEMIC DEPARTMENTS AND SPECIAL PROJECTS. THE SUPPLEMENTAL FUNDS ARE USED TO PROVIDE STUDENT AND FACULTY SCHOLARSHIPS/AWARDS, EMINENT SCHOLAR PROFESSORSHIPS, FACULTY SALARIES AND FACULTY RESEARCH. THE FOUNDATION ALSO PROVIDES FUNDING FOR UNIVERSITY DEVELOPMENT, CAPITAL PROJECTS AND SUBSTANTIAL SUPPORT OF OPERATIONS OF THE LIBRARY AND ITS COLLECTIONS. 19403123 true true false false false false false false false true true true false false true true true false false false true false false false false false false true false false false false false false false false false false false false true false false false false false false false false false true 28 0 true 0 true true false false false false false false false false false false false X 24 24 false false false false false false false true true false false false true true true true true true false false false false VA X CFO - FOUNDATIONS 7576834471 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 Caroline McCartney Secretary 0.2 0 X X 0 0 0 Garret A Alcaraz Treasurer 0.5 0 X X 0 0 0 James J Izard II Vice Chair 0.5 0 X X 0 0 0 Prescott Sherrod Chair 1.0 0 X X 0 0 0 Alton J Harris Trustee 0.1 0 X 0 0 0 Betsy Atkinson Trustee 0.1 0 X 0 0 0 Brad Waitzer Trustee (THRU 6/24) 0.1 0 X 0 0 0 Brian O Hemphill Ex-Officio 0.1 0 X 0 0 0 Bruce T Bishop Trustee 0.1 0 X 0 0 0 Gary A Gilmore Trustee (THRU 6/24) 0.1 0 X 0 0 0 Jacqueline B Amato Trustee (THRU 6/24) 0.1 0 X 0 0 0 James W Beamer Trustee 0.1 0 X 0 0 0 Janet A Ellis Trustee 0.1 0 X 0 0 0 Janet Carter Ex-Officio/ODUAA Representative 0.1 0 X 0 0 0 Joe E Carter Trustee 0.1 0 X 0 0 0 John Reed Trustee 0.1 0 X 0 0 0 Kevin Stevenson Trustee 0.1 0 X 0 0 0 Kim Curtis Trustee 0.1 0 X 0 0 0 L Scott Trainum Trustee 0.1 0 X 0 0 0 Lisa B Smith Trustee 0.1 0 X 0 0 0 Luke Hillier Trustee 0.1 0 X 0 0 0 Mark Warden Trustee 0.1 0 X 0 0 0 Mary Maniscalco-Theberge Trustee 0.1 0 X 0 0 0 Richard T Harris Trustee 0.1 0 X 0 0 0 Robert M King Jr Trustee 0.1 0 X 0 0 0 Thomas T Winborne Trustee (THRU 6/24) 0.1 0 X 0 0 0 Weyman Gong Trustee 0.1 0 X 0 0 0 William Monroe Trustee 0.1 0 X 0 0 0 Alonzo Brandon Ex-Officio/Executive Director 10.0 0 X 0 0 0 Cindy R Gall Assistant Secretary 13.0 0 X 0 0 0 Mike LaRock Assistant Treasurer 13.0 0 X 0 0 0 0 0 0 0 false false false ROBERT HALF 12400 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TEMPORARY ACCOUNTING STAFF 110642 THE CURTIS GROUP 2512 SHEPHERDS LANE VIRGINIA BEACH VA 23454 FNDRSNG. CSLTG. SVC. 110065 2 28808316 9146855 28808316 0 0 0 0 0 7648228 471154 7177074 235028 272189 -37161 0 -37161 -37161 73829145 65080229 429780 8748916 -429780 8319136 8319136 OTHER INCOME 900099 869974 869974 0 0 0 0 869974 45608493 869974 471154 15459049 19266562 19266562 0 0 4990 4990 50700 50700 814473 814473 139200 0 19200 120000 9781 8083 1698 26599 26599 140294 26142 14243 99909 1482 1482 PERSONNEL 1888438 1478671 409767 MISCELLANEOUS EXPENSES 142139 47972 9612 84555 AWARDS 43373 43373 MEALS AND BANQUET SERVICES 39261 8888 7097 23276 87249 10186 72043 5020 22654541 19403123 2507193 744225 738550 3491592 23798402 17321489 117527 421759 0 0 0 0 4268243 485188 3902182 3783055 228584466 302758173 117408490 77330718 0 255433 7326562 374805050 412433348 438843 432824 0 0 74672390 77945977 75111233 78378801 X 21449539 23269899 278244278 310784648 299693817 334054547 374805050 412433348 X 22953952 11763750 -356972 X X false true true false X 6346564 21271009 5785585 26365746 28808316 88577220 0 0 6346564 21271009 5785585 26365746 28808316 88577220 37630482 50946738 3340666 7805921 21104140 5522810 7412102 45185639 535721 952133 2032338 698548 471154 4689894 325889 392808 894566 831366 869974 3314603 141767356 0 0.35937 0.3943 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 325889.0, COLUMN B - 392808.0, COLUMN C - 894566.0, COLUMN D - 831366.0, COLUMN E - 869974.0, COLUMN F - 3314603.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 257055089 19280582 25781627 14455161 287662137 243984787 3237699 21059224 11226621 257055089 274964087 4124379 -23844893 0 11258786 243984787 228589798 11107805 45549424 2664134 7618806 274964087 205763070 7074463 25158413 2394972 7011176 228589798 0.0506 0.5836 0.3658 false false 924000 924000 3276000 416945 2859055 68243 68243 0 3783055 Closely-held equity interests Financial derivatives Other Securities 77330718 F 77330718 Federal Income Taxes FUNDS HELD FOR RELATED ENTITIES 77330718 SPLIT INTEREST LIABILITY 614142 OTHER LIABILITIES 1117 77945977 X 56200798 11763750 0 11763750 44437048 814473 356972 1171445 45608493 21840068 0 0 21840068 814473 0 814473 22654541 Schedule D, Part V, Line 4 Intended uses of endowment funds THE FOUNDATION'S ENDOWMENT CONSISTS OF 686 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation is an organization described in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes. Exempt organizations are subject to tax on income from regularly conducted trade or business activities that are not substantially related to the organization's exempt purpose. The Foundation had a deferred tax asset of $162,494 and $107,730 at December 31, 2024 and 2023, respectively. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Foundation had a valuation allowance of $162,494 and $107,730 at December 31, 2024 and 2023, respectively. The Foundation had an increase in the valuation allowance of $54,764 and $107,730 for the years ended December 31, 2024 and 2023, respectively. Tax years before 2021 are no longer subject to examinations. Management continually evaluates tax positions reflected in the Foundation's tax filings and does not believe that any material uncertain tax positions exist. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements CHANGES IN PROMISES TO GIVE RESERVE - 208630 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS - 148342 Central America and the Caribbean 0 0 Investments NONE 4262345 0 0 0 0 0 0 4262345 0 4262345 true false false false true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual true Old Dominion University 5115 Hampton Blvd Norfolk VA 23529 546000884 Government 15671839 To assist with the activities and objectives of the organization Old Dominion University Real Estate Fdn 4417 Monarch Way Norfolk VA 23529 541744996 501 c (3) 2707474 To assist with the activities and objectives of the organization Old Dominion University Alumni Assoc 4417 Monarch Way Norfolk VA 23529 541379119 501 c (3) 212031 To assist with the activities and objectives of the organization Old Dominion University Museum Fdn 4417 Monarch Way Norfolk VA 23529 812652321 501 c (3) 58350 To assist with the activities and objectives of the organization 3 1 Schedule I, Part II PURPOSE OF GRANT OR ASSISTANCE TO ASSIST WITH THE ACTIVITIES AND OBJECTIVES OF EACH ORGANIZATION. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds THE FOUNDATION PROVIDES FUNDS TO OLD DOMINION UNIVERSITY FOR SCHOLARSHIP AND PROGRAM ACTIVITIES BASED ON THE DONOR'S INTENTIONS. ALL DONOR RESTRICTIONS ARE FORWARDED TO THE APPROPRIATE UNIVERSITY OFFICIALS. DISBURSEMENT OF THE FUNDS IS MANAGED AND MONITORED BY THE UNIVERSITY IN COMPLIANCE WITH RESTRICTIONS AND IN ACCORDANCE WITH UNIVERSITY POLICIES AND PROCEDURE. THE PURPOSE OF THE GRANTS REPORTED IN PART II ARE TO ASSIST THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY AND THE ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION, OLD DOMINION UNIVERSITY ALUMNI ASSOCIATION, AND OLD DOMINION UNIVERSITY MUSEUM FOUNDATION. 42 8795500 Opinions of experts 22 351355 Market value false true false Schedule M, Part I, Line 1 Number of paintings received Schedule M, Part I, Line 9 FOR LINE 9(B), THE NUMBER OF STOCK DONATIONS RECEIVED (NOT SHARES) IS REPORTED. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - Number of items received Securities - Publicly traded - NUMBER OF STOCK DONATIONS RECEIVED (NOT SHARES) Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990 TAX FORMS ARE REVIEWED BY THE FINANCE AND AUDIT AND EXECUTIVE COMMITTEES AND ARE PROVIDED TO VOTING MEMBERS OF THE BOARD PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy ONCE THE ANNUAL INTEREST DISCLOSURE FORMS ARE RECEIVED, MANAGEMENT REVIEWS THEM TO ENSURE THAT THERE ARE NO ISSUES. IN THE EVENT OF A CONFLICT OF INTEREST, THE AFFECTED TRUSTEE WILL ABSTAIN FROM PARTICIPATING IN THE DISCUSSION OF THE MATTER AND FROM VOTING ON IT. Form 990, Part VI, Line 19 Required documents available to the public THE FOUNDATION MAKES IT GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part IX, Line 24a THE FOUNDATION HAS ENTERED INTO A STAFF SUPPORT AGREEMENT WITH THE UNIVERSITY IN WHICH THE FOUNDATION REIMBURSES THE UNIVERSITY FOR THE COST OF CERTAIN STAFF MEMBERS PROPORTIONATE TO THE TIME DEVOTED TO SERVING THE FOUNDATION. Form 990, Part XI, Line 9 Other changes in net assets or fund balances DECREASE IN ALLOWANCE FOR UNCOLLECTIBLE PROMISES TO GIVE - -208630; THE DECREASE IN THE VALUE OF SPLIT INTEREST AGREEMENTS - -148342; Total - -356972; Form 990, Part XII, Line 2c Change of oversight process or selection process THE FOUNDATION'S FINANCE AND AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS.