2014-12-08T15:33:32-06:00 2014-05-31 540565834 MITCHELL WIGGINS & COMPANY LLP 1802 BAYBERRY COURT SUITE 300 RICHMOND VA 23226 990 2013-06-01 540554396 VA FOUNDATION FOR INDEPENDENT COLLEGES VIRG 8042886609 8010 RIDGE ROAD NO B RICHMOND VA 23229 THOMAS R MORRIS PRESIDENT 8042886609 2014-12-03 1 DAVID E WILL CPA P00074591 8042826000 2013 2015-11-30 17:44:51Z THOMAS R MORRIS 8010 RIDGE ROAD NO B RICHMOND VA 23229 6638860 0 X WWW.VFIC.ORG X 1952 VA ADVANCE THE DISTINCTIVE VALUES AND STRENGTHS OF OUR FIFTEEN SMALLER ENROLLMENT, UNDERGRADUATE, RESIDENTIAL VIRGINIA MEMBER COLLEGES. 75 75 7 0 157 -1699 1875231 1998750 0 0 845463 2366012 27 0 2720721 4364762 2232672 2409842 0 0 466429 504328 0 0 243679 243020 202436 2942121 3116606 -221400 1248156 29051696 30925497 2267939 2485094 26783757 28440403 X THE MISSION OF THE VIRGINIA FOUNDATION FOR INDEPENDENT COLLEGES IS TO ADVANCE THE DISTINCTIVE VALUES AND STRENGTHS OF OUR FIFTEEN SMALLER ENROLLMENT, UNDERGRADUATE, RESIDENTIAL VIRGINIA MEMBER COLLEGES. WE DO THIS BY SECURING FINANCIAL SUPPORT FROM THE PRIVATE SECTOR, INCREASING VISIBILITY, FACILITATING INNOVATIVE AND COLLABORATIVE INITIATIVES BETWEEN THE COLLEGES, AND SUPPORTING INITIATIVES WHICH ENSURE THAT THIS PERSONALIZED EDUCATIONAL EXPERIENCE REMAINS AN AFFORDABLE CHOICE FOR TOMORROW'S CITIZEN-LEADERS. 0 0 2409842 2409842 THE FOUNDATION PROVIDES ANNUAL UNRESTRICTED AND RESTRICTED CONTRIBUTIONS TO SUPPORT CRUCIAL NEEDS AT ITS FIFTEEN MEMBER INSTITUTIONS, INCLUDING FUNDING FOR CAMPUS OPERATIONS, ACADEMIC PROGRAM DEVELOPMENT, AND FACULTY DEVELOPMENT. 106913 CAREER 15 SEEKS TO STRENGTHEN THE LONG-TERM, JOINT PARTNERSHIP BETWEEN THE FIFTEEN VFIC MEMBER INSTITUTIONS AND PRIVATE, PUBLIC AND NONPROFIT ORGANIZATIONS IN VIRGINIA THROUGH A STATEWIDE PROGRAM MATCHING COMPANIES WITH STUDENTS SEEKING CAREER AND INTERNSHIP OPPORTUNITIES. 60313 THE ETHICS INITIATIVE PROVIDES RESOURCES FOR AN ANNUAL STATEWIDE ETHICS BOWL PROGRAM AMONG STUDENT TEAMS FROM EACH OF THE FIFTEEN MEMBER INSTITUTIONS. VFIC TRUSTEES AND DONORS SERVE AS JUDGES AND MODERATORS FOR THIS EVENT. 27672 THE NEW HORIZONS PROGRAM IS A STRATEGIC INITIATIVE TO HELP THE FIFTEEN MEMBER INSTITUTIONS FURTHER DIVERSIFY THEIR STUDENT BODIES AND TO EXPAND COLLEGE ACCESS AND OPPORTUNITY FOR STUDENTS FROM LOWER-INCOME, RURAL OR MINORITY FAMILIES, OR FOR STUDENTS WHO WOULD BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. 27350 OTHER PROGRAMS INCLUDE SUPPORT FOR UNDERGRADUATE TEACHING AND THE SUMMER UNDERGRADUATE PROGRAM FOR RESEARCH IN THE SCIENCES. 55022 2632090 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 7 1 0 0 0 0 0 0 0 0 0 0 X 75 75 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAGE ROBINSON 8042886609 8010 RIDGE ROAD RICHMOND VA 23229 GEORGE Y BIRDSONG CHAIRMAN 1.00 X X 0 0 0 A MARSHALL ACUFF JR TRUSTEE 1.00 X 0 0 0 NANCY H AGEE TRUSTEE 1.00 X 0 0 0 GEORGE F ALBRIGHT JR TRUSTEE 1.00 X 0 0 0 FRANK BATTEN JR TRUSTEE 1.00 X 0 0 0 G WILLIAM BEALE TRUSTEE 1.00 X 0 0 0 J EDWARD BETTS ESQ TRUSTEE 1.00 X 0 0 0 W EARLE BETTS III TRUSTEE 1.00 X 0 0 0 CHARLES L CABELL ESQ TRUSTEE 1.00 X 0 0 0 JOHN M CAMP III TRUSTEE 1.00 X 0 0 0 THEODORE L CHANDLER JR TRUSTEE 1.00 X 0 0 0 C LYNCH CHRISTIAN III TRUSTEE 1.00 X 0 0 0 JOHN R CLARK III TRUSTEE 1.00 X 0 0 0 RICHARD CULLEN ESQ TRUSTEE 1.00 X 0 0 0 BEVERLEY E DALTON TRUSTEE 1.00 X 0 0 0 MARK E DEMPSEY TRUSTEE 1.00 X 0 0 0 THOMAS F FARRELL II TRUSTEE 1.00 X 0 0 0 GEORGE C FREEMAN III TRUSTEE 1.00 X 0 0 0 GERARD T GABRYS TRUSTEE 1.00 X 0 0 0 PALMER P GARSON TRUSTEE 1.00 X 0 0 0 WILLIAM F GIFFORD JR TRUSTEE 1.00 X 0 0 0 MARIE M GODSEY TRUSTEE 1.00 X 0 0 0 THOMAS E GOODE TRUSTEE 1.00 X 0 0 0 GARY M GORE TRUSTEE 1.00 X 0 0 0 H HITER HARRIS III TRUSTEE 1.00 X 0 0 0 ANNE BARNETT HAZEL TRUSTEE 1.00 X 0 0 0 TED HENGST TRUSTEE 1.00 X 0 0 0 S ANDERSON HUGHES TRUSTEE 1.00 X 0 0 0 CARL W LEVANDER TRUSTEE 1.00 X 0 0 0 LEMUEL E LEWIS TRUSTEE 1.00 X 0 0 0 CHARLES S LUCK IV TRUSTEE 1.00 X 0 0 0 JOHN A LUKE JR TRUSTEE 1.00 X 0 0 0 THOMAS J LYONS JR TRUSTEE 1.00 X 0 0 0 CRAIG L MASSEY TRUSTEE 1.00 X 0 0 0 THURSTON R MOORE ESQ TRUSTEE 1.00 X 0 0 0 SPENCER W MORTEN III TRUSTEE 1.00 X 0 0 0 MARSHALL N MORTON TRUSTEE 1.00 X 0 0 0 ROGER H MUDD TRUSTEE 1.00 X 0 0 0 WILLIAM L PANNILL TRUSTEE 1.00 X 0 0 0 ANTHONY PONSIGLIONE TRUSTEE 1.00 X 0 0 0 BITTLE W PORTERFIELD III TRUSTEE 1.00 X 0 0 0 STEWART D ROBERSON TRUSTEE 1.00 X 0 0 0 JEFFREY R ROWAN TRUSTEE 1.00 X 0 0 0 THOMAS D RUTHERFOORD JR TRUSTEE 1.00 X 0 0 0 BOB SASSER TRUSTEE 1.00 X 0 0 0 ROBERT D SEABOLT TRUSTEE 1.00 X 0 0 0 GARY R SHOOK TRUSTEE 1.00 X 0 0 0 ROBERT H SPILMAN JR TRUSTEE 1.00 X 0 0 0 JAMES A SQUIRES TRUSTEE 1.00 X 0 0 0 JOHN G STALLINGS TRUSTEE 1.00 X 0 0 0 HUGH E TAYLOR TRUSTEE 1.00 X 0 0 0 JOSEPH R THOMAS TRUSTEE 1.00 X 0 0 0 FRED D THOMPSON JR TRUSTEE 1.00 X 0 0 0 GARY R THOMSON CPA TRUSTEE 1.00 X 0 0 0 WILLIAM R VAN BUREN III ESQ TRUSTEE 1.00 X 0 0 0 MARTIN L VAUGHAN III TRUSTEE 1.00 X 0 0 0 MARGARET G WARNER TRUSTEE 1.00 X 0 0 0 JAMES C WHEAT III TRUSTEE 1.00 X 0 0 0 RICHARD R WHITT III TRUSTEE 1.00 X 0 0 0 ROBERT W WOLTZ JR TRUSTEE 1.00 X 0 0 0 DAVID W BUSHMAN TRUSTEE 1.00 X 0 0 0 JAKE R SCHRUM TRUSTEE 1.00 X 0 0 0 CHRISTOPHER B HOWARD TRUSTEE 1.00 X 0 0 0 NANCY O GRAY TRUSTEE 1.00 X 0 0 0 KENNETH R GARREN TRUSTEE 1.00 X 0 0 0 PAMELA FOX TRUSTEE 1.00 X 0 0 0 MATTHEW D SHANK TRUSTEE 1.00 X 0 0 0 BRADLEY W BATEMAN TRUSTEE 1.00 X 0 0 0 ROBERT R LINDGREN TRUSTEE 1.00 X 0 0 0 MICHAEL C MAXEY TRUSTEE 1.00 X 0 0 0 TRACY FITZSIMMONS TRUSTEE 1.00 X 0 0 0 JOELLEN PARKER TRUSTEE 1.00 X 0 0 0 EDWARD L AYERS TRUSTEE 1.00 X 0 0 0 WILLIAM T GREER JR TRUSTEE 1.00 X 0 0 0 KENNETH P RUSCIO TRUSTEE 1.00 X 0 0 0 DR THOMAS R MORRIS PRESIDENT 40.00 X 163028 0 21852 MARY-BETH M JOHNSON VICE-PRESIDENT/SECRETARY 40.00 X 97220 0 12271 PAGE ROBINSON FINANCE MANAGER 15.00 X 18542 0 0 278790 0 34123 1 0 1 0 0 1998750 1998750 2366012 157 2365855 2274098 2274098 0 4364762 0 157 2365855 2409842 2409842 322014 68909 86614 166491 107151 54433 40112 12606 11101 3407 7394 300 34698 5902 24754 4042 29364 10930 9951 8483 27250 27250 13759 13759 3408 352 704 2352 8963 3585 1793 3585 12303 4696 2911 4696 7992 3197 1598 3197 41720 16688 8344 16688 7918 3167 1584 3167 33808 13523 6762 13523 7711 1948 3815 1948 2011 2011 ETHICS INITIATIVE 19243 19243 OTHER PROGRAM EXPENSES 5735 5735 MAINTENANCE & SERVICE 5470 2188 1094 2188 CAREER WORKFORCE DEVELO 3372 3372 1773 973 387 413 3116606 2632090 240837 243679 20 20 1512484 1336044 104652 415285 1874 0 82798 75284 15225 7514 27417441 29166634 29051696 30925497 118992 112117 2148947 2372977 2267939 2485094 X 18452130 19701164 2265938 2574440 6065689 6164799 26783757 28440403 29051696 30925497 1248156 408490 0 X 0 1 X 1 0 X 1815304 6928782 1654672 1875231 1998750 14272739 1815304 6928782 1654672 1875231 1998750 14272739 0 0 0 14272739 584033 1010355 1062918 845463 2366012 5868781 584033 1010355 1062918 845463 2366012 5868781 8750 10200 224 27 19201 2408087 7949337 2717814 2720721 4364762 20160721 0.70790 0.77070 0.29110 0.22780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22279872 141231 2123304 980858 23563549 20932471 31502 2798543 1482644 22279872 21772817 270443 -412359 698430 20932471 14999226 5082523 2278845 587777 21772817 13998929 51955 1584640 636298 14999226 0.64620 0.26160 0.09220 0 0 82798 75284 7514 7514 TIFF MUTUAL FUNDS 25070902 F TIFF ALTERNATIVE INVESTMENTS 1235273 F POINTER, L.P. 2525111 F RIVERSIDE MICRO-CAP FUND II, L.P. 330775 F RIVERSIDE MICRO-CAP FUND III, L.P. 4573 F 29166634 X 4775752 408490 2500 410990 4364762 0 4364762 3119106 2500 2500 3116606 0 3116606 PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO BE UTILIZED IN ACCORDANCE WITH THE DONOR'S ORIGINAL INTENT AND, IN THE CASE OF BOARD DESIGNATED FUNDS, THE BOARD'S DIRECTIVES. THESE PURPOSES INCLUDE OPERATING EXPENSES, SCHOLARSHIPS, TEACHING GRANTS, AND CAPITAL IMPROVEMENTS/MAINTENANCE AT MEMBER INSTITUTIONS. PART X, LINE 2: THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE TAXING AUTHORITIES FOR YEARS ENDING BEFORE MAY 31, 2011. THE FOUNDATION INCLUDES PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES IN MANAGEMENT AND GENERAL EXPENSES. THE FOUNDATION DID NOT HAVE ANY PENALTIES AND INTEREST RELATING TO INCOME TAXES FOR THE YEARS ENDED MAY 31, 2014 AND 2013. 1 BRIDGEWATER COLLEGE 402 EAST COLLEGE STREET BRIDGEWATER VA 22812 540506306 501(C)(3) 171124 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS EMORY & HENRY COLLEGE PO BOX 947 EMORY VA 24327 540505892 501(C)(3) 154283 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS HAMPDEN-SYDNEY COLLEGE 1 COLLEGE ROAD HAMPDENSYDNEY VA 23943 540505906 501(C)(3) 144942 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS HOLLINS UNIVERSITY PO BOX 9658 ROANOKE VA 24020 540506314 501(C)(3) 141822 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS LYNCHBURG COLLEGE 1501 LAKESIDE DRIVE LYNCHBURG VA 24501 540505922 501(C)(3) 176381 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS MARY BALDWIN COLLEGE 201 EAST FREDERICK STREET STAUNTON VA 24401 540506319 501(C)(3) 146141 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS MARYMOUNT UNIVERSITY 2807 N GLEBE ROAD ARLINGTON VA 22207 540573801 501(C)(3) 168277 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS RANDOLPH-MACON COLLEGE PO BOX 5005 ASHLAND VA 23005 540505940 501(C)(3) 170302 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS RANDOLPH COLLEGE 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 540505941 501(C)(3) 144210 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS ROANOKE COLLEGE 221 COLLEGE LANE SALEM VA 24153 540505945 501(C)(3) 179002 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS SHENANDOAH UNIVERSITY 1460 UNIVERSITY DRIVE WINCHESTER VA 22601 540525605 501(C)(3) 158695 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS SWEET BRIAR COLLEGE PO BOX A SWEET BRIAR VA 24595 541733690 501(C)(3) 151353 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS UNIVERSITY OF RICHMOND 28 WESTHAMPTON WAY RICHMOND VA 23173 540505965 501(C)(3) 171656 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS VIRGINIA WESLEYAN COLLEGE 1584 WESLEYAN DRIVE NORFOLK VA 23502 546039600 501(C)(3) 174255 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS WASHINGTON & LEE UNIVERSITY 204 WEST WASHINGTON STREET LEXINGTON VA 24450 540505977 501(C)(3) 156082 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS 15 PART I, LINE 2: THE FOUNDATION RECEIVES PERIODIC REPORTS FROM THE MEMBER INSTITUTIONS DESCRIBING USE OF FUNDS AND PROGRAM RESULTS. X X 0 0 0 0 0 0 0 0 0 DR THOMAS R MORRIS PRESIDENT 163028 0 0 0 0 0 15989 0 5863 0 184880 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WILL BE REVIEWED BY THE FINANCE AND EXECUTIVE COMMITTEES, AUTHORIZED TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C A NOTEBOOK IS KEPT WITH THE CONFLICT OF INTEREST SURVEYS, WHICH ARE CONTINUALLY UPDATED AND MONITORED. FORM 990, PART VI, SECTION B, LINE 15 IN DETERMINING CEO COMPENSATION, THE FINANCE & AUDIT COMMITTEE REVIEWS AN ANNUAL BENCHMARK SURVEY OF SIMILAR STATE ASSOCIATIONS ACROSS THE COUNTRY. THE FINANCE & AUDIT COMMITTEE ALSO APPROVES COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. SUMMARY FINANCIAL STATEMENTS ARE CONTAINED IN FOUNDATION'S ANNUAL REPORT.