Annual Reports 2016-17
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Virginia Tech Foundation Virginia Tech Philanthropy Annual Reports 2016-17 Virginia Tech Foundation Virginia Tech Philanthropy Annual Reports 2016-17 2 Virginia Tech Foundation officers and administration and Board of Directors 3 A year like no other | A message from Sandra C. Davis, chair of the Virginia Tech Foundation Board of Directors 4 Foundation financial highlights 10 Endowment highlights 12 Advancement financial highlights 16 Accomplishments and initiatives Virginia Tech does not discriminate against employees, students, or applicants on the basis of age, color, disability, gender, gender identity, gender expression, national origin, political affiliation, race, religion, sexual orientation, genetic information, or veteran status; or otherwise discriminate against employees or applicants who inquire about, discuss, or disclose their compensation or the compensation of other employees, or applicants; or any other basis protected by law. For inquiries regarding non-discrimination policies, contact the Office for Equity and Accessibility at 540-231-2010 or Virginia Tech, North End Center, Suite 2300 (0318), 300 Turner St. NW, Blacksburg, VA 24061. givingto.vt.edu 2016-17 Annual Reports vtf.vt.edu 1 OFFICERS ADMINISTRATION BOARD OF DIRECTORS Sandra C. Davis John E. Dooley Nancy H. Agee Ryan D. Lewellyn Chair of the Board CEO and Secretary-Treasurer Mary N. Blackwood Nancy R. Little 540-231-2265 | [email protected] David L. Calhoun Darrell D. Martin John E. Dooley James L. Chapman IV Priscilla McCall Chief Executive Officer Terri T. Mitchell George B. Clarke IV Robert D. Moser Jr. and Secretary-Treasurer Associate Vice President for Sandra C. Davis James A. “J.” Pearson Administration and Controller Dennis A. Duncan Brandon D. Perry Charles D. Phlegar 540-231-0420 | [email protected] John C. Fernando A. Carole Pratt Executive Vice President Theodore S. “Ted” Hanson John B. Rowsell Kevin G. Sullivan Leonard P. “Leo” Harris Winston A. Samuels M. Dwight Shelton Jr. Associate Vice President for Jeffrey C. Hartman Timothy D. Sands Executive Vice President Administration and General Counsel Amy B. Hayes James R. Smith 540-231-2875 | [email protected] Greg J. Herrema Fay H. Street Deborah A. Koller John A. “Alex” Urquhart Jr. John J. Cusimano John R. Lawson II William Hanson West Jr. Associate Vice President for Finance John C. Lee IV 540-231-7094 | [email protected] ADVANCEMENT DIVISION SENIOR LEADERSHIP TEAM Charles D. Phlegar Rhonda K. Arsenault Vice President for Advancement Associate Vice President for Advancement Services 540-231-7676 | [email protected] 540-231-2833 | [email protected] Angela L. Hayes Michael M. Moyer Chief of Staff Associate Vice President of Development for Colleges 540-231-7676 | [email protected] 540-231-5479 | [email protected] Tracy Vosburgh Monecia H. Taylor Senior Associate Vice President for University Relations Associate Vice President for Principal Gifts 540-231-5396 | [email protected] 540-231-2809 | [email protected] Matthew M. Winston Jr. John W. Torget Senior Associate Vice President for Alumni Relations Assistant Vice President for Leadership Gifts and Annual Giving 540-231-6285 | [email protected] 540-231-2966 | [email protected] 2 vtf.vt.edu 2016-17 Annual Reports givingto.vt.edu A year like no other A message from Sandra C. Davis, chair of the Virginia Tech Foundation Board of Directors Sandra C. Davis and John E. Dooley walking in the Street and Davis Performance Hall portion of the Moss Arts Center. Thanks to the continuing generous support of the many Fundraising is another critical priority — not for its own sake, alumni and friends of Virginia Tech, the fiscal year ending but because of all that it makes possible. Donations empower June 30, 2017, was a tremendous one for the Virginia Tech our researchers. They allow us to build and renovate our Foundation. These are very exciting days at the university and facilities. They keep Virginia Tech accessible to high-achieving foundation, and we are grateful that you are a partner in our students from all communities. accomplishments. In the pages that follow, you will learn about an outstanding To help advance the university’s global leadership role in year that saw new gifts and commitments surge by 62 percent, self-driving vehicular research, the foundation in July 2016 to a record $162.3 million, and the value of our endowment bought 603 acres for the development of a rural testbed for grow by 18 percent, to $995.8 million. Along with summarizing autonomous vehicles. Just hours before the fiscal year ended, our foundation and fundraising performance, we highlight our university received its largest scholarship gift ever. Both many new initiatives that are fueled by philanthropy or events were extraordinary, yet entirely fitting bookends to what facilitated by the foundation. These include the Clark Scholars was an unprecedented 12 months at Virginia Tech. Program, made possible by a $15 million endowment commitment. The Virginia Tech Foundation and the university’s Division of Advancement work closely together to enhance the impact of All of the accomplishments detailed in this report are a our institution throughout the state, nation, and world. We do testament to the generosity of thousands of Virginia Tech’s this by raising private support. We do this through successful supporters. Without you, we would not be the university we investing and by seizing upon opportunities to help Virginia are today. I hope you enjoy learning more about the past fiscal Tech achieve essential, strategic aims. year, and that you will stay engaged with Virginia Tech in the years ahead. Building on our strong position in autonomous-vehicle research is one such aim. We are better equipped to accomplish Thank you for playing an important role in the life of our it having bought so much land adjacent to the Virginia Tech university. Transportation Institute. givingto.vt.edu 2016-17 Annual Reports vtf.vt.edu 3 Foundation financial highlights The Virginia Tech Foundation’s financial reporting follows U.S. Generally Accepted Accounting Principles (GAAP). Foundation assets in millions Foundation contributions in millions 1800 150 $1,723.9 $145.1 140 1700 130 1600 $1,510.6 120 $1,507.8 1500 $1,488.8 110 $98.5 100 $93.2 1400 90 $1,302.6 $81.1 1300 80 $77.0 1200 70 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Foundation expenditures in millions Value of endowment in millions 190 1000 $995.8 $184.9 180 900 $843.0 170 $164.3 $817.8 $166.5 800 $796.4 160 $155.9 150 700 $143.3 $660.3 140 600 130 120 500 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 4 vtf.vt.edu 2016-17 Annual Reports givingto.vt.edu Revenue, gains, and other support Contributions . $145,089,851 . 45 .6% Investment income . $14,018,134 . 4 .4% Net gains on investments . $81,086,341 . 25 .5% Rental income . .. $37,430,397 . .. 11 .8% Hotel Roanoke revenue . $22,048,958 . 6 .9% Other income . $15,561,588 . 4 .9% Change in fair value of interest rate swaps . $1,510,119 . 0 .5% Golf course revenue . $1,545,662 . 0 .4% TOTAL . $318,291,050 . 100% Endowment at market value College or university program Total Scholarships Professorships Other Agriculture and Life Sciences . $42,890,574 . $18,852,478 . $10,724,743 . $13,313,353 Architecture and Urban Studies . $22,650,365 . $5,801,217 . $6,658,649 . $10,190,499 Science . $35,265,623 . $12,587,098 . $18,825,510 . $3,853,015 Business (Pamplin) . $105,325,346 . $35,712,271 . $32,781,530 . $36,831,545 Engineering . $161,344,361 . $70,431,977 . $49,926,710 . $40,985,674 Natural Resources and Environment . $17,358,964 . $4,842,161 . $5,176,625 . $7,340,178 Liberal Arts and Human Sciences . $20,638,521 . $9,917,265 . $3,994,069 . $6,727,187 Veterinary Medicine . $32,319,925 . $15,056,029 . $7,811,072 . $9,452,824 Athletics . $64,884,547 . $64,184,192 . .$700,355 Extension . $10,707,330 . $590,581 . $10,116,749 General . $227,341,557 . $91,827,002 . $3,425,184 . $132,089,371 Agency . $153,969,586 . $149,906 . $153,819,680 Pratt/Animal Nutrition . $22,896,091 . $16,485,186 . $6,410,905 Pratt/Engineering . $23,592,519 . $20,572,677 . $3,019,842 Quasi-endowment . $11,179,450 . $11,179,450 VTCCA . $43,442,689 . $36,740,517 . .$6,702, 172 TOTAL . $995,807,448 . $403,750,557 . $139,324,092 . $452,732,799 givingto.vt.edu 2016-17 Annual Reports vtf.vt.edu 5 Foundation financial highlights Expenditures by college or university program Unit Total Student financial aid Program support College/university program Agriculture and Life Sciences . $4,671,742 . $960,590 . $3,711,152 Architecture and Urban Studies . $1,542,412 . $327,913 . $1,214,499 Science . $2,598,306 . $637,354 . $1,960,952 Business (Pamplin) . $4,932,176 . $1,868,722 . $3,063,454 Engineering . $19,844,313 . $4,242,095 . $15,602,218 Natural Resources and Environment . $5,836,148 . $442,528 . $5,393,620 Liberal Arts and Human Sciences . $2,017,439 . $556,044 . $1,461,395 Veterinary Medicine . $3,049,441 . $654,532 . $2,394,909 Athletics . $21,304,212 . $9,315,536 . $11,988,676 Extension . $844,546 . $17,344 . $827,202 Military Affairs . $3,514,103 . $1,340,358 . $2,173,745 General scholarship . $3,763,080 . $3,763,080 . Development . $10,474,289 . $10,474,289 Alumni . $1,674,629 . $1,674,629 Outreach . $515,965 . $515,965 Research . $10,658,850 . $10,658,850 Student Affairs . $950,313 . $950,313 4-H centers . $858,146 . $59,675 . $798,471 Steger Center . $831,004 . $831,004 WVTF/RADIO IQ Public Radio .