2013-12-20T13:34:16-06:00 2013-05-31 540565834 MITCHELL WIGGINS & COMPANY LLP 1802 BAYBERRY COURT SUITE 300 RICHMOND VA 23226 990 2012-06-01 540554396 VA FOUNDATION FOR INDEPENDENT COLLEGES VIRG 8042886609 8010 RIDGE ROAD NO B RICHMOND VA 23229 THOMAS R MORRIS 8042886609 2013-12-07 1 DAVID E WILL CPA P00074591 8042826000 2012 2015-11-30 17:44:51Z THOMAS R MORRIS 8010 RIDGE ROAD NO B RICHMOND VA 23229 4966378 0 X WWW.VFIC.ORG X 1952 VA ADVANCE THE DISTINCTIVE VALUES AND STRENGTHS OF OUR FIFTEEN SMALLER ENROLLMENT, UNDERGRADUATE, RESIDENTIAL VIRGINIA MEMBER COLLEGES. 76 76 6 0 11914 -26348 1654672 1875231 0 0 1062918 845463 224 27 2717814 2720721 2152826 2232672 0 0 547269 466429 0 0 268015 253115 243020 2953210 2942121 -235396 -221400 26438773 29051696 2235934 2267939 24202839 26783757 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 2232672 2232672 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. 86971 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. 75770 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. 34084 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. 45579 OTHER PROGRAMS INCLUDE SUPPORT FOR UNDERGRADUATE TEACHING AND THE SUMMER UNDERGRADUATE PROGRAM FOR RESEARCH IN THE SCIENCES. 79663 2475076 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 6 1 1 1 0 0 0 0 0 0 0 0 0 X 76 76 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ORGANIZATION 8042886609 8010 RIDGE ROAD RICHMOND VA 23229 GEORGE Y BIRDSONG 1.00 X X 0 0 0 A MARSHALL ACUFF JR 1.00 X 0 0 0 GEORGE F ALBRIGHT JR 1.00 X 0 0 0 G WILLIAM BEALE 1.00 X 0 0 0 J EDWARD BETTS ESQ 1.00 X 0 0 0 W EARLE BETTS III 1.00 X 0 0 0 CHARLES L CABELL ESQ 1.00 X 0 0 0 JOHN M CAMP III 1.00 X 0 0 0 THEODORE L CHANDLER JR 1.00 X 0 0 0 C LYNCH CHRISTIAN III 1.00 X 0 0 0 JOHN R CLARK III 1.00 X 0 0 0 RICHARD CULLEN ESQ 1.00 X 0 0 0 BEVERLEY E DALTON 1.00 X 0 0 0 MARK E DEMPSEY 1.00 X 0 0 0 THOMAS F FARRELL II 1.00 X 0 0 0 G S FITZ-HUGH JR 1.00 X 0 0 0 GEORGE C FREEMAN III 1.00 X 0 0 0 GERARD T GABRYS 1.00 X 0 0 0 PALMER P GARSON 1.00 X 0 0 0 WILLIAM F GIFFORD JR 1.00 X 0 0 0 MARIE MERIWETHER GODSEY 1.00 X 0 0 0 THOMAS E GOODE 1.00 X 0 0 0 GARY M GORE 1.00 X 0 0 0 H HITER HARRIS III 1.00 X 0 0 0 ANNE BARNETT HAZEL 1.00 X 0 0 0 TED HENGST 1.00 X 0 0 0 S ANDERSON HUGHES 1.00 X 0 0 0 THOMAS G JOHNSON JR ESQ 1.00 X 0 0 0 THOMAS W KIRCHMAIER JR 1.00 X 0 0 0 CARL W LEVANDER 1.00 X 0 0 0 LEMUEL E LEWIS 1.00 X 0 0 0 CHARLES S LUCK IV 1.00 X 0 0 0 JOHN A LUKE JR 1.00 X 0 0 0 THOMAS J LYONS JR 1.00 X 0 0 0 CRAIG L MASSEY 1.00 X 0 0 0 THURSTON R MOORE ESQ 1.00 X 0 0 0 CHARLES W MOORMAN 1.00 X 0 0 0 SPENCER W MORTEN III 1.00 X 0 0 0 MARSHALL N MORTON 1.00 X 0 0 0 ROGER H MUDD 1.00 X 0 0 0 WILLIAM L PANNILL 1.00 X 0 0 0 ANTHONY PONSIGLIONE 1.00 X 0 0 0 BITTLE W PORTERFIELD III 1.00 X 0 0 0 THOMAS D RUTHERFOORD JR 1.00 X 0 0 0 BOB SASSER 1.00 X 0 0 0 ROBERT D SEABOLT 1.00 X 0 0 0 GARY R SHOOK 1.00 X 0 0 0 ROBERT C SLEDD 1.00 X 0 0 0 ROBERT H SPILMAN JR 1.00 X 0 0 0 JOHN G STALLINGS 1.00 X 0 0 0 HUGH E TAYLOR 1.00 X 0 0 0 JOSEPH R THOMAS 1.00 X 0 0 0 GARY R THOMSON 1.00 X 0 0 0 WILLIAM R VAN BUREN III ESQ 1.00 X 0 0 0 MARTIN L VAUGHAN III 1.00 X 0 0 0 MARGARET G WARNER 1.00 X 0 0 0 JAMES C WHEAT III 1.00 X 0 0 0 RICHARD R WHITT III 1.00 X 0 0 0 RICHARD F WILLIAMSON ESQ 1.00 X 0 0 0 ALAN S WITT CPA 1.00 X 0 0 0 ROBERT W WOLTZ JR 1.00 X 0 0 0 DR THOMAS R MORRIS 40.00 X 159379 0 22859 MARY-BETH M JOHNSON 40.00 X 94848 0 15829 PAGE ROBINSON 15.00 X 21809 0 0 276036 0 38688 1 0 1 0 0 1875231 1875231 845463 11914 833549 2245657 2245657 0 MISCELLANEOUS 900099 27 27 27 2720721 0 11914 833576 2232672 2232672 313437 44693 88756 179988 117715 59111 41138 17466 11705 4682 2341 4682 -4565 6598 -17761 6598 28137 11255 5627 11255 27320 27320 10577 10577 1380 345 690 345 7233 2893 1447 2893 9934 3767 2400 3767 6670 2668 1334 2668 40922 16369 8184 16369 7122 2849 1424 2849 31387 12555 6277 12555 8255 1948 4359 1948 3105 3105 ETHICS INITIATIVE 27744 27744 OTHER PROGRAM EXPENSES 21566 21566 FIHE ASSESSMENTS 19500 7800 9750 1950 NEW HORIZONS PROGRAM EX 9762 9762 10543 5799 2062 2682 2942121 2475076 199030 268015 20 20 1482586 1512484 154910 104652 5505 1874 82798 67573 23480 15225 24772272 27417441 26438773 29051696 178732 118992 2057202 2148947 2235934 2267939 X 16084058 18452130 2074494 2265938 6044287 6065689 24202839 26783757 26438773 29051696 -221400 2802318 0 X 0 1 X 1 0 X 2384992 1815304 6928782 1654672 1875231 14658981 2384992 1815304 6928782 1654672 1875231 14658981 0 0 0 14658981 830588 584033 1010355 1062918 845463 4333357 830588 584033 1010355 1062918 845463 4333357 9748 8750 10200 224 27 28949 3225328 2408087 7949337 2717814 2720721 19021287 0.77070 0.72820 0.22780 0.27010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20932471 31502 2798543 1482644 22279872 21772817 270443 -412359 698430 20932471 14999226 5082523 2278845 587777 21772817 13998929 51955 1584640 636298 14999226 17208476 141654 -2709898 641303 13998929 0.64550 0.27220 0.08230 0 0 82798 67573 15225 15225 TIFF MUTUAL FUNDS 23676180 F TIFF ALTERNATIVE INVESTMENTS 1307164 F POINTER, L.P. 2259482 F RIVERSIDE MICRO-CAP FUND II, L.P. 174615 F 27417441 X 5526829 2802318 3790 2806108 2720721 0 2720721 2945911 3790 3790 2942121 0 2942121 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2010. 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, 2013 AND 2012. 1 BRIDGEWATER COLLEGE 402 EAST COLLEGE STREET BRIDGEWATER VA 22812 540506306 501(C)(3) 156279 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS EMORY & HENRY COLLEGE PO BOX 947 EMORY VA 24327 540505892 501(C)(3) 135263 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS HAMPDEN-SYDNEY COLLEGE 1 COLLEGE ROAD HAMPDENSYDNEY VA 23943 540505906 501(C)(3) 141050 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS HOLLINS UNIVERSITY PO BOX 9658 ROANOKE VA 24020 540506314 501(C)(3) 133580 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS LYNCHBURG COLLEGE 1501 LAKESIDE DRIVE LYNCHBURG VA 24501 540505922 501(C)(3) 154580 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS MARY BALDWIN COLLEGE 201 EAST FREDERICK STREET STAUNTON VA 24401 540506319 501(C)(3) 149431 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS MARYMOUNT UNIVERSITY 2807 N GLEBE ROAD ARLINGTON VA 22207 540573801 501(C)(3) 152915 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS RANDOLPH-MACON COLLEGE PO BOX 5005 ASHLAND VA 23005 540505940 501(C)(3) 170360 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS RANDOLPH COLLEGE 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 540505941 501(C)(3) 135322 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS ROANOKE COLLEGE 221 COLLEGE LANE SALEM VA 24153 540505945 501(C)(3) 149748 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS SHENANDOAH UNIVERSITY 1460 UNIVERSITY DRIVE WINCHESTER VA 22601 540525605 501(C)(3) 143301 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS SWEET BRIAR COLLEGE PO BOX A SWEET BRIAR VA 24595 541733690 501(C)(3) 131087 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS UNIVERSITY OF RICHMOND 28 WESTHAMPTON WAY RICHMOND VA 23173 540505965 501(C)(3) 171465 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS VIRGINIA WESLEYAN COLLEGE 1584 WESLEYAN DRIVE NORFOLK VA 23502 546039600 501(C)(3) 156446 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS WASHINGTON & LEE UNIVERSITY 204 WEST WASHINGTON STREET LEXINGTON VA 24450 540505977 501(C)(3) 146818 DISTRIBUTION TO MEMBER INSTITUTION TO PAY FOR PROGRAMS AND SCHOLARSHIPS 15 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 159379 0 0 0 0 0 15630 0 7229 0 182238 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.