2019 ANNUAL REPORTS Give.Vt.Edu Virginia Tech Philanthropy 2018Virginia Tech Foundation 2019 ANNUAL REPORTS

Virginia Tech Philanthropy

Virginia Tech Foundation 2018Virginia Tech Philanthropy

2019ANNUAL REPORTS 2 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu Virginia Tech Philanthropy 2018Virginia Tech Foundation 2019 ANNUAL REPORTS

2 An extraordinary year of accomplishments: A message from Sandra C. Davis, Chair of the Virginia Tech Foundation Board of Directors

5 Virginia Tech Foundation Officers and Administration, Virginia Tech Foundation Board of Directors, and Virginia Tech Advancement Division Senior Leadership Team

6 Foundation financial highlights

12 Endowment highlights

14 Advancement highlights

18 Accomplishments and initiatives

Virginia Tech is an equal opportunity and affirmative action employer. Women, minorities, individuals with disabilities, and protected veterans are strongly encouraged to apply. Anyone having questions concerning discrimination or accessibility should contact the Office 1 for Equity and Accessibility. A message from Sandra C. Davis, Chair of the Virginia Tech Foundation Board of Directors

AN EXTRAORDINARY YEAR OF ACCOMPLISHMENTS

Virginia Tech — and the university’s many partners — made a positive impact this past fiscal year… … In Roanoke, where the university announced the largest gift ever received by Virginia Tech, naming the Fralin Biomedical Research Institute. This extraordinary gift will provide innumerable opportunities for research, as the struggle continues to find treatments for thus-far incurable diseases. … In Newport News, where the Tech Center Research Park, drawing inspiration from the acclaimed Virginia Tech Corporate Research Center in Blacksburg, is well underway toward developing over 1 million square feet of space for innovation and economic development. … In Central Appalachia communities, where Virginia Tech is collaborating on ways to address growing economic discrepancies along the urban-rural divide. As you review this annual report, among the many accomplishments you will note in addition to those mentioned above are that the Hotel Roanoke gained

2 “The partnership between Carilion Clinic and Virginia Tech, along with leaders of the Roanoke community, is generating a new level of worldwide recognition and that the endowment passed the $1.3 remarkable momentum for health sciences education, treatment, and discoveries along billion threshold. an Innovation Corridor.” As chair of the Virginia Tech Foundation Board, it has been my pleasure to - Nancy Howell Agee, President and CEO serve with many people who share a passion for making a positive difference. of Carilion Clinic For example, Virginia Tech Foundation Board member Nancy Agee, the president and CEO of Carilion Clinic, is a guiding force in the development of the Virginia Tech Carilion Academic Health Center; John Lawson II, a former board member, has been instrumental in developing the Tech Center Research Park; and another former board member, Mike Quillen, is finding innovative new uses for land as part of the Appalachian Homestead Initiative, while also serving as chair of Region One for the Go Virginia economic development initiative. On behalf of the Virginia Tech Foundation and the Advancement Division, thank you for your personal contributions and involvement in helping Virginia Tech provide ever-expanding opportunities to spearhead innovation for our “Virginia Tech has a strong track record students. promoting innovation and business development through its Corporate Research Center, making it the natural partner for our work to diversify and enhance the economy of the Hampton Roads region through the Tech Center project in Newport News.” - John Lawson II, Executive Chairman of W.M. Jordan Company

Sandra C. Davis, Chair of the Virginia Tech Foundation Board of Directors

“It takes creativity, collaboration, and hard work to remake economies in ways that preserve the health and viability of communities. As the commonwealth’s senior land-grant university, Virginia Tech has the unique mission to bring people together to improve lives and to facilitate outcomes that are critically important for the future of our state.” - Mike Quillen, Region One Chair for Go Virginia 4 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu OFFICERS ADMINISTRATION BOARD OF DIRECTORS

Sandra C. Davis John E. Dooley Nancy H. Agee Roger H. Moore Chair of the Board CEO and Secretary-Treasurer Omar M. Asali Robert D. Moser Jr. 540-231-2265 Christopher J. Brightman Marty Muscatello John E. Dooley [email protected] Kevin T. Crofton Renae C. Pearson Chief Executive Officer Sandra C. Davis Brandon D. Perry and Secretary-Treasurer Terri T. Mitchell Associate Vice President for John C. Fernando Jay S. Poole Administration and Controller Gregory C. Godsey Winston A. Samuels Charles D. Phlegar 540-231-0420 Jeffrey C. Hartman Timothy D. Sands Executive Vice President [email protected] Amy B. Hayes Fay H. Street Gregory J. Herrema Dennis H. Treacy Dwayne L. Pinkney Catherine L. Potter Starlette B. Johnson William Hanson West Jr. Executive Vice President Associate Vice President for Deborah A. Koller Richard R. Whitt III Administration and General Counsel Mark S. Lawrence 540-231-2875 John C. Lee IV [email protected] Ryan D. Lewellyn Nancy R. Little John J. Cusimano Priscilla McCall Associate Vice President for Finance 540-231-7094 [email protected]

ADVANCEMENT DIVISION SENIOR LEADERSHIP TEAM

Charles D. Phlegar Monecia H. Taylor Vice President for Advancement Associate Vice President for Principal Gifts 540-231-7676 540-231-2809 [email protected] [email protected]

Rhonda K. Arsenault John W. Torget Chief Operating Officer and Associate Vice President for Associate Vice President for Leadership Advancement Services Gifts and Annual Giving 540-231-2833 540-231-2966 [email protected] [email protected]

Tracy Vosburgh Angela L. Hayes Senior Associate Vice President for University Relations Chief of Staff 540-231-5396 540-231-7676 [email protected] [email protected]

Michael M. Moyer Associate Vice President of Development for Colleges 540-231-8673 [email protected] 5 6 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu 2000 Foundation assets Foundation 1400 1600 1900 1800 1500 2100 1700 Foundation expenditures Foundation 140 160 190 180 130 150 120 170 IN MILLIONS IN MILLIONS $166.5 2015 $1,507.8 2015 $184.9 $1,510.6 2016 2016 $164.3 $1,723.9 2017 2017 $179.6 $1,891.0 2018 2018 $170.0 $2,107.1 Generally Accepted Accounting Principles (GAAP). VirginiaThe Tech Foundation’s financial reporting follows U.S. 2019 2019 FINANCIAL HIGHLIGHTS FOUNDATION Value of endowment of Value Foundation contributions Foundation 1000 1400 1300 1200 1100 900 800 700 100 140 130 150 120 110 90 80 70 IN MILLIONS IN MILLIONS $817.8 2015 $98.5 2015

$843.0

2016 $93.2 2016 $995.8 2017 $145.1 2017 $1,146.1 2018 $130.4 2018 $1,358.0

2019 $137.0 2019 FINANCIAL HIGHLIGHTS FOUNDATION

Endowment at market value market at Endowment        TOTAL Quasi-endowment Pratt/Engineering Nutrition Pratt/Animal agency Other General Extension Cadets of Corps Athletics Medicine of School VTC Medicine Veterinary Science Environ and Resources Natural Sciences Human and Arts Liberal Engineering (Pamplin) Business Studies and Urban Architecture Sciences Life and Agriculture Professorships Scholarships Total program university or College Revenue, gains, and other support and other gains, Revenue, 6 8 3 5 2 4 7 1 I Hotel Roanoke revenue Roanoke Hotel income Rental investments on gains Net Other income Other Golf course revenue course Golf Contributions nvestment income nvestment TOTAL ...... $257,082,530 . $1,357,969,450 $136,988,218 . $22,839,350 $393,675,969 $40,413,079 $304,793,230 $17,282,426 $19,219,255 $18,743,312 $113,084,295 $169,195,836 $1,596,890 $68,553,044 $23,663,893 $23,420,299 $22,728,956 $32,729,563 $38,149,240 $47,357,680 $10,884,981 $22,654,011 $51,747,469 $11,513,620 $17,703,474 $6,113,890 ...... $443,844,103 $109,338,535 $38,662,902 $20,539,602 $39,533,576 $16,948,982 $75,560,531 $67,294,221 $20,551,519 $14,316,014 $15,421,815 $5,220,700 $10,154,128 $6,362,771 $3,156,618 53 100% 15 0 $631,238 8 6 $150,951 7 7 .6% . . . . .7% . 9% 3% 3% 5% 7% ...... 4

$148,473,616

$52,093,088

$36,502,294

$13,053,024

$19,445,313 3

$2,680,333

$6,616,668 $7,789,080

$5,146,149

$5,147,667 5

......

...... 7

......

$393,525,018

. $765,651,731 ......

$192,774,362

. . . $37,919,099

$10,253,743 $12,213,893 $8,362,098

$41,542,217 Other

$2,880,697 $11,513,620

$13,753,137

$9,518,668

$7,336,625 $1,258,823 $9,674,572 $2,957,272 $5,779,974

$4,387,913

7 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu 8 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu program College/university Expenditures by college or university program or university bycollege Expenditures TOTAL Other Roanoke VTREF/Hotel Course River Real estate Center Research Corporate Administrative operations/general Foundation IQ WVTF/RADIO Affairs Student Steger Center Steger Research Outreach scholarship General Extension Development centers 4-H Medicine of School VTC Medicine Veterinary Science Environ and Resources Natural Sciences Human and Arts Liberal Honors Engineering (Pamplin) Business Studies and Urban Architecture Sciences Life and Agriculture Corps of Cadets of Corps Athletics Alumni ...... FINANCIAL HIGHLIGHTS FOUNDATION ...... $170,041,376 $ . Total $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 21,835,455 13,323,535 24,138,499 $ $ 19,481,897 $ $ $ 2,598,084 15,477,478 5,332,223 $ 11,186,228 2,788,659 2,683,647 13,713,991 $ 2,409,610 $ 1,338,339 4,592,812 5,587,957 2,144,395 4,159,032 $ 3,479,312 1,947,296 3,415,551 1,352,715 2,554,117 $ 1,712,451 404,990 884,438 $ 822,227 653,112 23,326 ...... aid financial Student $29,431,975 $ $ $ $ $ 14,157,687 2,409,610 $ 4,851,092 1,598,625 $ $ $ $ $ $ $ 1,728,126 846,669 $ 386,352 675,258 $ 392,746 123,650 876,108 745,754 577,473 48,425 14,400

...... Program support Program $140,609,401 $ $ $ $ $ $ $ $ $ $ $ $ $ 14,630,805 $ $ 21,835,455 13,323,535 $ $ $ 15,477,478 $ 3,989,332 5,332,233 3,282,924 $ 11,186,228 2,683,647 13,713,991 1,808,363 $ 9,980,812 $ 1,369,823 $ 4,592,812 3,029,199 $ 3,479,312 $ 1,289,914 1,751,649 2,113,401 $ 1,712,451 506,046 869,958 $ 870,038 822,227 281,340 653,112 23,326 FOUNDATION FINANCIAL HIGHLIGHTS

Designation of contributions

College/university program Contributions Allocation

Agriculture and Life Sciences...... $2,640,625...... 1 .9% Architecture and Urban Studies. . . . . $4,600,963...... 3 .4% Business (Pamplin)...... $6,119,041...... 4 .5% Engineering...... $15,359,997...... 11 .2% Honors...... $3,359,240...... 2 .5% Liberal Arts and Human Sciences. . . . . $1,688,474...... 1 .2% Natural Resources and Environment. . $1,075,921...... 0 .8% Science...... $3,138,363...... 2 .3% Veterinary Medicine ...... $3,933,528...... 2 .9% VTC School of Medicine...... $3,159,242...... 2 .3% 4-H centers...... $1,041,823...... 0 .8% Academic Affairs ...... $10,659,940...... 7 .8% Athletics ...... $24,567,363...... 17 .9% Corps of Cadets ...... $2,808,779...... 2 .1% Extension...... $1,443,050...... 1 .1% Information systems...... $200...... 0 .0% International programs ...... $124,967...... 0 .1% Research and graduate studies. . . . $5,388,763...... 3 9%. Student Affairs...... $1,408,025...... 1 .0% WVTF/RADIO IQ...... $3,283,028...... 2 .4% Future designations...... $696,916...... 0 .5% Pledges receivable ...... $26,744,815...... 19 .4% Other ...... $13,745,155...... 10 .0%

TOTAL...... $136,988,218...... 100%

9 10 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu 5

FINANCIAL HIGHLIGHTS FOUNDATION     purpose Endowment        Expenditure by function by Expenditure

6 8 3 3 2 5 2 4 7 1 1 Professorships Course River and general Management Roanoke Hotel Fundraising University capital outlay capital University Other Corporate Research Center Research Corporate Support to university programs university to Support Scholarships assistance financial Student TOTAL TOTAL ...... $1,357,969,450 $443,844,104 $148,473,615 $765,651,731 . . . . $

. . . . . Millions $170 $64 $29 . $21 $13 $15 $13 $9 $2 56 32 10 100% % .0 ...... 7 .7 6 8 3 3 2 4 . . .7% 9% 4% ...... # of funds . . . . 3,823 12 37 100% 2,763 17 9 5 . 7 1 . 8 238 822 . . .3% . % . 6% 8% 8% 5% 2% .1% 7% FOUNDATION FINANCIAL HIGHLIGHTS

Endowment value per student

Fiscal year Endowment market value # of students $ per student

1990...... $120,170,954...... 23,320 ...... $5,153 1991...... $131,195,712...... 23,937 ...... $5,481 1992...... $147,933,178...... 24,548 ...... $6,026 1993...... $168,058,641...... 24,337...... $6,905 1994...... $169,304,165...... 24,504 ...... $6,909 1995...... $205,138,585...... 24,405 ...... $8,406 1996...... $244,537,663...... 24,123 ...... $10,137 1997...... $285,704,195...... 24,952 ...... $11,450 1998...... $331,013,180...... 25,977 ...... $12,743 1999...... $340,243,732...... 26,343 ...... $12,916 2000...... $368,196,579...... 26,558 ...... $13,864 2001...... $359,527,534...... 26,199 ...... $13,723 2002 ...... $328,679,928...... 26,561 ...... $12,375 2003 ...... $331,311,105...... 26,456 ...... $12,523 2004 ...... $370,811,010...... 26,558 ...... $13,962 2005 ...... $408,810,308...... 26,686 ...... $15,319 2006...... $447,404,748...... 27,202 ...... $16,447 2007...... $524,731,181...... 27,658 ...... $18,972 2008...... $527,629,109...... 28,966 ...... $18,215 2009...... $451,744,223...... 29,858 ...... $15,130 2010...... $502,379,593...... 30,181 ...... $16,646 2011...... $600,647,830...... 30,616 ...... $19,619 2012...... $594,776,245...... 30,445 ...... $19,536 2013...... $660,340,421...... 30,807 ...... $21,435 2014...... $796,436,874...... 30,850 ...... $25,816 2015...... $817,759,471...... 30,975 ...... $26,401 2016...... $842,991,159...... 32,296 ...... $26,102 2017...... $995,807,448...... 32,837 ...... $30,326 2018...... $1,146,054,596...... 34,155 ...... $33,555 2019...... $1,357,969,450...... 34,950 ...... $38,855

11 12 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu should bemanagedsothatagifttodaywillfunddonor’sobjectiveinperpetuity. The overridingprincipleofthefoundation’sendowmentprogramisthatfunds annualized returnof5.5percentoverthetrailingfive-yearperiod. fund achievedatotalreturnof3.4percentfortheyearendingJune30,andan 2.9 percentgovernmentbonds,and13.2cashequivalents.The consisted of57.0percentglobalequities,6.6realassets,20.3credit, The June30allocationexposuresofthefoundation’spooledendowmentfund partnerships, andothermiscellaneousendowedassets. separately innotes,deedsoftrust,giftannuities,contributionsreceivable,realestate foundation’s pooledconsolidatedendowmentfund,while$99.3millionwasheld Foundation Inc.totaled$1.36billion.Ofthattotal,$1.26billionwasinvestedinthe As ofJune30,2019,themarketvalueallendowmentsheldbyVirginiaTech diversification. based approachtoawidevariety ofassetclasses,withbroadsectorandgeographic the fundisallocatedacross more than30managementfirmsandtakesavalue- monitoring. Consultantsare retainedforoperationaldiligence.Managementof decisions, theselectionand retentionofinvestmentmanagers,andperformance endowment’s spendingpolicy. VirginiaTechFoundationstaffleadassetallocation committee, whosemainfocusistheassetallocationof the fundand Policy onendowmentmanagementismadebythefoundation’s investment capital markets. next, leavingthebeneficiariesofendowmentsvulnerable tothevolatilityof moving average,fundingmightdramaticallyriseinone year,thenfalldrasticallythe within thefiscalyear2018-2019approvedrangeof3.0-4.4 percent.Withoutthis was usedtosmoothouttheunitvalueswhendetermining ifprogramspendingfell Index overtheprecedingcalendaryear.A12-quarteraverage ofendowmentvalues program supportisadjustedannuallytoreflectthechange intheConsumerPrice In anefforttomaintaintheendowment’spurchasingpower,payoutratefor dividend, ispaidquarterly. analogous tosharesinamutualfund,andprogramsupportpayout-per-unit,or inflation. Eachgiftenteringtheconsolidatedendowmentfundpurchasesunits goal ofmaintainingtherealvalueendowmentovertimetokeeppacewith For example,ifabenefactorendowsscholarship,themoneyismanagedwith HIGHLIGHTS ENDOWMENT

ENDOWMENT HIGHLIGHTS

Consolidated endowment performance

9.0% 9 8.6% 7.7% 8.7% 7.0% 5.6% 6 5.5%

3.4% 3

0 1 year 3 year 5 year 10 year

* The policy benchmark reflects the Foundation endowment geometrically linked monthly blended Benchmark* return of 60% MSCI ACWI, 10% FTSE EPRA/NAREIT Global Real Estate, and 30% BC Global Agg. 14 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu the fiscal year. fiscal the within recorded gifts outright and pledges new of amount total the represent Figures

4 4

and commitments total yearly and the fundraising cash total. separatetwo methods of reporting philanthropy, yearly the gifts new Reporting Standards and Management Guidelines. division The uses VirginiaThe Tech Advancement Division reporting guided is by CASE FINANCIAL HIGHLIGHTS ADVANCEMENT

Uses of new gifts and commitments new gifts of Uses Sources of new gifts and commitments new gifts of Sources

          

6 3 3 2 5 2 4 4 7 1 1 TOTAL Students Alumni Private grants Private gifts Matching grants and gifts Direct Retired Active Organizations Donor advised grants Private foundations Personal/family grants and gifts Direct TOTAL Parents Faculty/staff Friends Foundations Private grants Endowment Other organizations Other Corporations Capital facilities Capital operations Current Alumni ...... $181,940,926 $181,940,926 $20,430,496 . $28,012,958 $64,581,455 $57,623,352 $82,349,723 $54,439,784 $12,370,260 $64,473,037 $3,389,438 $2,760,568 $13,319,342 $80,111,538 $3,066,068 $4,043,336 $5,142,659 $2,276,893 $2,865,766 $7,109,405 $1,278,852 $3,067,818 $2,110,586 $108,418 $117,500

...... 35 44 45 15 35 . 29 . 31 . 11 2 6 0 0 1 . 0 2 1 . 3 7 . 1 .69% 1 .69% 1 . 1 . 100% 100% . . . 1 . .03% . . . . .22% .70% 86% 40% . 83% 49% 23% 80% 52% 67% 26% 06% 06% 58% 92% .16% 43% 32% 25% 91% FINANCIAL HIGHLIGHTS ADVANCEMENT

Designations of new gifts and commitments Designations new gifts of                          20 23 22 24 25 10 16 19 18 21 13 14 12 15 17 11 6 9 8 3 5 2 4 7 1 TOTAL W.E. Skelton 4-H Educational Conference Educational 4-H W.E. Skelton Intercollegiate Athletics Intercollegiate and Diversity** Inclusion Hokie Family Annual Fund Family Annual Hokie Moss Arts Center Arts Moss College Honors VTC at Institute Research Biomedical Fralin Aid Financial Business of College Pamplin University Libraries University WVTF/RADIO IQ WVTF/RADIO Graduate School** Graduate Corps of Cadets of Corps Science of College Environment and Resources Natural of College Sciences Human and Arts Liberal of College Engineering of College Studies Urban and Architecture of College Sciences Life and Agriculture of College Virginia Tech Biocomplexity Institute** Medicine of School Tech Carilion Virginia Medicine Veterinary of College Virginia-Maryland Student Affairs Student Administration/other* Center at Smith Mountain Lake Mountain Smith at Center ...... $181,940,926 $34,567,430 $13,708,466 $51,612,443 $17,610,895 $3,540,884 $11,224,019 $4,443,057 $ $3,778,876 $1,352,333 $4,028,781 $3,235,138 $2,897,810 $4,985,173 $4,791,972 $7,272,441 $1,123,796 $6,111,699 3,858,651 $347,939 $420,149 $227,220 $637,028 $93,387 $64,684 $6,655 ...... 28 19 .00% 16 0 0 . 4 9 0 2 0 . 3 2 2 0

7 . 2 1 . 1 .

0 0.35%

2 1 6

100%

. . .08% .68% . .62%

. . . .78% .

. . 00% 00% .

05% 36% .19% 59% 95% 53% .12% 23% 64% 44% .17% 37%

04% 12% .12% 74% 74%

21%

Figures represent the total amount of of amount total the represent Figures shown in the chart. the in shown not are smaller and 0.10% Amounts ** designated. be to gifts and Homestead, Reynolds technology, information centers, independent programs, such as alumni designations and projects cumulative includes listing * Administration/other year. fiscal the within recorded gifts outright and pledges new 15

25 24

15 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu 16 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu of gifts received for the fiscal year. fiscal the for received gifts of amount total the represent Figures

FINANCIAL HIGHLIGHTS ADVANCEMENT

Sources of fundraising of Sources cash            Uses of fundraising of Uses cash 1 1 6 3 3 2 5 2 4 4 7 Foundations Faculty/staff Friends Parents Private grants Endowment Other organizations Other Corporations Capital facilities Capital operations Current Alumni TOTAL Organizations Donor advised grants Private foundations Personal/family grants and gifts Direct grants Private gifts Matching grants and gifts Direct Retired Active Students Alumni TOTAL ...... $120,327,415 $34,694,084 $66,651,051 $11,872,875 $7,109,405 . $120,327,415 $49,474,480 $18,990,902 $18,365,472 $21,989,313 $49,441,062 $15,201,904 $3,066,068 $14,878,159 $7,363,266 $4,043,336 $4,497,080 $2,978,791 $2,866,186 $3,067,818 $1,165,191 $645,206 $519,985 $97,500 $33,418

...... 28 55 9 . 5 100% . . . 83% 39% 87% 91% 15 18 15 12 12 41 41 2 0 . 0 0 0 . 3 2 0 2 2 6 3 100% .48% . . .08% . . .03% . . . .63% .55% .55% . .12% .12% 26% . 09% 97% 27% 78% 36% 36% 38% 43% 54% 74% 20

25 22 1

3 24 19 21

ADVANCEMENT 18

FINANCIAL HIGHLIGHTS 4

6 5 15

16 7 13

12 8 11 10 9 Designations of fundraising cash

1 College of Agriculture and Life Sciences...... $7,188,262 . . . . 5 .97% Figures represent the total amount of new pledges and 2 College of Architecture and Urban Studies...... $6,221,354. . . . 5 .17% outright gifts recorded within 3 Pamplin College of Business...... $8,218,274 . . . . 6 .83% the fiscal year. 4 College of Engineering ...... $18,627,088 . . . . 15 .48%  * Administration/other listing 5 College of Liberal Arts and Human Sciences ...... $2,243,742 . . . . 1 .86% includes cumulative projects 6 College of Natural Resources and Environment ...... $1,939,240 . . . . 1 .61% and designations such as alumni programs, independent 7 College of Science ...... $4,418,074 . . . . 3 .67% centers, information 8 Virginia-Maryland College of Veterinary Medicine...... $4,479,831 . . . . 3 .72% technology, Reynolds Homestead, and gifts to be 9 Virginia Tech Carilion School of Medicine...... $3,314,301. . . . 2 .75% designated. 10 Administration/other*...... $6,964,421. . . . 5 .80% ** Amounts 0.10% and 11 Corps of Cadets...... $2,849,296. . . . 2 .37%  smaller are not shown in the 12 Financial Aid ...... $4,013,485 . . . . 3 .34% chart. 13 Fralin Biomedical Research Institute at VTC...... $4,954,043. . . . 4 .12% 14 Graduate School**...... $82,501 . . . . 0 .07% 15 Hokie Family Annual Fund...... $227,630. . . . 0 .19% 16 Honors College...... $3,465,764 . . . . 2 .88% 17 Inclusion and Diversity**...... $112,969 . . . 0 .09% give.vt.edu

Intercollegiate Athletics ...... $28,481,965 . . . 23 .67%

 19 Moss Arts Center...... $429,167 . . . 0 .36% 20 Student Affairs...... $1,521,045 . . . . 1 .26% 21 University Libraries...... $258,117 . . . . 0 .21% 22 University...... $6,820,333 . . . . 5 .67% ANNUAL REPORTS 23 Virginia Tech Biocomplexity Institute**...... $6,951 . . . . 0 .01% 24 W .E . Skelton 4-H Educational Conference...... $279,103 . . . . 0 .23% 2018-2019 2018-2019

Center at Smith Mountain Lake

25 WVTF/RADIO IQ...... $3,210,459. . . . 2 .67% vtf.org

TOTAL...... $120,327,415 . . . . 100% 17 ACCOMPLISHMENTS AND INITIATIVES

Record-setting philanthropy, worldwide recognition, and powerful new initiatives to spark innovation and economic growth were highlights of an extraordinary year for the Virginia Tech Foundation and the university’s Advancement Division.

18 about the power of philanthropy. of power the about Hokies young educate to initiative weeklong a during campus around rides peers their gave Associates Alumni Student of Members 19 vtf.org 20118-2019 ANNUAL REPORTS give.vt.edu 20 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu AND INITIATIVES ACCOMPLISHMENTS involved intheblockchainworld,”shesaid. unique opportunityforstudentstoconnectwithrealBlock.one engineersandget was ahighlightofherjunioryear.“VirginiaTechBlockchain isavaluableand Computer sciencemajorJiayi“J.W.”Leeledoneofthe competingteamsinwhat than 300studentswhoattendedaBlockchainBootCamp. philanthropy. Block.one’sengagementalsoincludedmentoring someofthemore development competitionmadepossible,inpart,through thecompany’s coached studentteamsparticipatinginasemester-long blockchainapplication Over thecourseofspringsemester,anumberexperts fromBlock.one locations, includingLosAngelesandHongKong. where itnowoccupiesa32,000-square-footbuilding,andhasmultipleglobal dramatically expandeditspresenceintheVirginiaTechCorporateResearchCenter, science alumnus.Thecompany,publisheroftheEOSIOopensourcesoftware,has original foundingmembers,ChiefTechnologyOfficerDanLarimer’04,acomputer 2018-2019 fiscalyear.Block.one’sBlacksburglocationisledbyoneofthecompany’s business landscapeandinthelivesofhundredsVirginiaTechstudentsduring A worldleaderinblockchainsolutionsmadeapositiveimpactontheregion’s Block.one’s engagement with Virginia Tech makes animpact and commitmentswas$162.3million,providedduring2016-2017. during thefiscalyearthatendedonJune30,2019.Thepreviousrecordfornewgifts A totalof36,286individuals,corporations,andfoundationsgavetoVirginiaTech strength andincrediblygenerousspirit.” and theworldthroughresearcheducation.Thankyou,HokieNation,foryour generosity. Withtheirsupport,wecanchangecommunities,thecommonwealth, Tech PresidentTimSands.“We areprofoundlygratefulfortheirrecord-setting much theyvalueVirginiaTechandarecommittedtoitsfuture,”said “Our alumni,friends,faculty,staff,parents,andstudentshaveshownhow the thirdstraightyearinwhichdonationstopped$150million. during the2018-2019fiscalyear,up18percentfrompreviousyear’stotal.Itwas The universityreceivedarecord$181.9millioninnewgiftsandcommitments Virginia Techinayearofunprecedentedgenerosity. Tens ofthousandsdonorssteppedforwardtosupportprogramsthroughout Donations reachanew high:$181.9million

An orientation leader outside the Moss Arts Center.

21 22 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu AND INITIATIVES ACCOMPLISHMENTS or musicprogramsinRoanoke, Lynchburg,Charlottesville,andBlacksburg. The stationsteamedwithvariousorganizationstopresent orsponsorpublicaffairs WVTF andRADIOIQengagedthepublicinpersonas wellasovertheairwaves. Television DigitalNewsAssociation,andthePublicRadio NewsDirectors. recognized withawardsfromtheSocietyofProfessional Journalists,theRadio care. AlongwithhonorsfromtheAssociatedPressBroadcasters, reportingwas a DouglasFreemanAwardforPublicServicetheir series onhomehealth Reporters fortheradioservicetookhomesixindividual awardsandshared $727,560, upmorethan8percent. set ayearearlier.Underwritingfromthecorporateand foundationsectorwas station thanever.Individualdonationsreached$2.4million,surpassingtherecord News OperationoftheVirginiasinayearwhichlistenersdonatedmoreto The AssociatedPressBroadcastershonoredRADIOIQastheMostOutstanding WVTF andRADIOIQwinmultiple awards andset fundraising record Roanoke’s future,thereisnobiggerstory.” forward to support this emerging academic health center, because when it comes to Heywood Fralinsaid when the gift was announced. “I hope many others will come a leading academic health center for biomedical research in the commonwealth,” become aswegrowand thatwillemerge discoveries tothemany forward “I look of VirginiaTech’sFralinLifeSciencesInstitute. Fralin’s olderbrother,the and his late HoraceFralin,werethe wife, Ann, namesakes and apowerfuladvocateforhigher education and economic development.Heywood philanthropist, along-time FacilitiesofAmerica, of Medical ischairman Fralin Heywood faculty,” universityPresidentTimSandssaid. VTC Health Sciences Campus, its important biomedical research, and extraordinary “The generosity Fralin family’sremarkable highlights the growth and success of the was twiceaslargeanyothersinglegifttoVirginiaTech. university supports recruiting and retaining world-leading biomedical researchers. It land-grant research ofVirginia’s history the147-year in donation generous most The Biomedical ResearchInstituteatVTCinRoanoke. record $50 million to Virginia Tech to support research at the newly renamedFralin The Horace G. Fralin Charitable Trust and Cynthia and Heywood Fralin donateda The largest ever giftto Virginia Tech

research. biomedical support to million $50 gave family his and Fralin Heywood 23 vtf.org 20118-2019 ANNUAL REPORTS give.vt.edu 24 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu College, alsoestablishedtheBoeingStudio. pilot modeloftransdisciplinarycollaborativelearning within theVirginiaTechHonors support forprogramfaculty.ThetheCalhounDiscoveryProgram,whichisa contributing $3millionforstudentscholarships,experiential-learninggrants,andsalary Boeing becamethefirstfoundingindustrypartnerofCalhounDiscoveryProgramby Boeing forms $3millionpartnershipwithCalhounDiscovery Program The hopeisthatbybringingfolkstogethertheyaregoingtocreatesomethingnew.” including itsnewestinTechCenterBuildingOne.“Ourfocusisoncreatingcollisions. a companythatrunsseveralco-workingspacesinRichmondandHamptonRoads, “That isoneofthethingsthatreallyinterestedus,”saidPollyWhite,apartnerinGather, companies canoperateinanenvironmentthatencouragescollaboration. 2019-2020. Theplanistoconstructup10buildingswherefledglingandestablished 2018-2019 meansconstructionofBuildingTwoisalreadyscheduledtobegininfiscal Success inleasingthemajorityofBuildingOne’s81,600squarefeetfiscalyear economy andgiveitafirmerfootingisinnovationentrepreneurship.” and ports,”saidJeffJohnson,thepark’sdirector.“Whatwehopewillreallyhelpignite “Historically ourthreeeconomicpillarshavebeenfederalandmilitaryspending,tourism, broader HamptonRoadsmetropolitanareathatalsoincludesVirginiaBeachandNorfolk. retail, residential,andcollaborativeofficespacetotheCityofNewportNews,part massive projectdevelopedbyW.M.JordanCompanytobring1millionsquarefeetof The foundationismanagingtheTechCenterResearchPark,akeycomponentof with supportfromtheVirginiaTechFoundation. River Valley’seconomyhasinspiredleadersinHamptonRoadstotrysomethingsimilar, The VirginiaTechCorporateResearchCenter’sprovenrecordofenhancingtheNew Tech Center Research Park helpsdiversify economy of HamptonRoads Keating, executivevicepresident ofgovernmentoperationsforTheBoeingCompany. students developtheskillsthey needtobecometheinnovatorsoffuture,”said Tim “Boeing isproudtosupport thistrailblazingnewprogramthatwillhelpVirginiaTech place CalhounDiscoveryProgram studentsininternships. industry mentors,leadingworkshops,givinglecturesand demonstrations,andhelpingto of Practice.Inaddition,Boeingstaffwilllendtechnical expertisebyservingasvisiting Boeing issupportingthestudiobyfundingfull-time DistinguishedProfessors Calhoun CenterforHigherEducationInnovation. education,” saidThanassisRikakis,thefoundingchair of boththeprogramand aspiration ofmakingtheCalhounDiscoveryProgram a globalleaderintransdisciplinary “The generousfinancialandin-kindsupportfromBoeing movesusclosertoour AND INITIATIVES ACCOMPLISHMENTS

Tech Center Research Park Building One. Building Park Research Tech Center the outside Sands Tim Tech President Virginia and II Lawson John Chairman Executive Company Jordan W.M. 25 vtf.org 20118-2019 ANNUAL REPORTS give.vt.edu 26 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu whose members werealldonorsaswell. vision areality,” saidHoracioValeiras,rector oftheVirginiaTechBoard ofVisitors, “Support fromtheentireuniversity communityiscriticaltomakingVirginiaTech’s Virginia Tech.Thenumber ofstudentsintheirsenioryearwhogavewasover850. the pastfiscalyear.Nearly8,000 alumni,parents,orfriendsmadetheirfirst-evergift to On GivingDayandotherdays, awidevarietyofgroupsshowedtheirgenerosityduring 22,845. Theuniversity’salumnigivingratewas13percent. The numberofalumniwhomadegiftsrose5percentfrom thepreviousfiscalyear,to 2019-20 academicyear. before. Thatriseingivingallowedtheprogramtogrow tohelp282studentsforthe university matchescertainqualifyingscholarshipgifts, wasup36percentontheyear Donor supportfortheBeyondBoundariesScholarsProgram, throughwhichthe university intheirestateplansormakedeferredgifts. household givingof$100,000ormore,andtheLegacy Societyforthosewhoincludethe The yearalsosawariseinmembersoftheUtProsimSociety, whichrecognizeslifetime million duringthe24-hourfundraisingchallenge. year inparticipationanddollarsraised.Morethan6,600peoplemadegiftstotaling$2.8 Virginia Tech’ssecondGivingDaywasamajorsuccess,farsurpassingitsinaugural Hokie alumni, parents, andfriendsmake apowerful impact by giving mission toalwaysmoveforward,wedevelopedone.” “Trends pointtograb-and-gomarketsbeingsomethingguestsprefer,”Wells said.“Inour coffee availabletoguestsonthego. 5 GHzstandardandopeningtheSTEAMCoffee+EaterytomakefoodStarbucks Major hotelupgradesweremade,includingimprovinghigh-speedinternettoexceedthe Virginia’s BlueRidgeandmaintainedFourDiamonddesignationfromAAA. that isstandardfortheindustry.ThehotelwonaTourismExcellenceAwardfromVisit rate, outperformingsimilarhotelsstatewide,accordingtotheeSTARbenchmarking The awardwasfarfromtheonlyhighlightforhotel.Ithada76percentoccupancy extra special,”saidBrianWells, thehotel’sgeneralmanager. “This wasHilton’s100-yearanniversary,sotobetheConnieAwardwinnerthisyear the roughly70Curiopropertiesinworldreceivesthishonoreachyear. most ofHilton’scategoryawards,whichareawardedbygeographicregion,onlyone cleanliness, condition,brandstandards,andqualityofthehotel’saccommodations.Unlike The honorisdeterminedbyacombinedrankingforoverallexperience,service, properties itmanagesworldwide. The HotelRoanokewonHilton’s2018ConnieAwardfortheCuriobrandofluxury Hotel Roanoke recognized asworld’s best by Hilton AND INITIATIVES ACCOMPLISHMENTS

Biological systems engineering major Jesika McDaniel spoke to members of the Ut Prosim Society during its annual weekend of events.

27 28 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu AND INITIATIVES ACCOMPLISHMENTS buildings and two living-learningresidential communities. functional workout space ofthe facility, while GBAC will include two academic The gift for the football strength and conditioning project will nearly double the philanthropy, asdomultiple athleticandacademicscholarships. Merryman Family Learning Studio in the Moss Arts Center highlight the family’s Pat Merryman;and son, LeeMerryman. The MerrymanAthletic Facility and the mother and father,W. Merryman Jr.’46 Floyd “Sonny” andLousister, Merryman; The Merryman family’s generosity spans generations, including FloydMerryman’s toward Pamplin’sportionoftheGlobalBusinessandAnalytics Complex(GBAC). of the university’s footballstrength and conditioning center. The other half will go the and Pamplin CollegeofBusiness. Half ofthe gift was designated tothe expansion two areas of the university that are familiar to the family — Virginia Tech Athletics The Merrymans generously committed $2 million to Virginia Tech to be split between has beenblessedwithgoodfortune.” III Merryman ’81. reap fiveinreturn,”explainedFloyd “Our family going toprobably family. “My grandmother always had a saying that for every dollar you give back, you’re A simple philanthropic saying has resonated through generations of the Merryman Merryman family addstoitsmajor impact is goingtomakeadifference.” isn’t often available to early-stage businesses. The fact that we have the Fund VTC Seed that option an That’s guidance. business toprovide continue sourcesand other capital the said CytoRecoverycompany,” CEO Steve Turner.“Theyintroducedus to several “The Fundprovidesmorethan VTC Seed capital, they get really in the trenches with cancer research,immunotherapies,andprecisionmedicine. separate and recoverlivecells at was Virginia developed Tech and holds promise for One such VTC Seed Fund investment is CytoRecovery. The company’s technology to VTC SeedFundandInnovationfund. and other avenues of interconnectivity,” said James Ramey,the fund manager forthe outside the ecosystem via sponsored research, regional offices, investor introductions, Tech, Carilion, andregional ecosystems —andimporting companies anddollars from “We’re workingwith, and investing in, great companies coming out of the Virginia foundation andCarilionannouncedin2017. than the more-established types supported by the VTC InnovationFund,which the Announced in December, the VTC Seed Fund focuses on earlier-stage companies a newventurecapitalfund. launch helping growthby economic and innovation aredriving they theways increased health care leading provider Virginia’s Southwest and Tech Virginia The Foundation Virginia Tech Foundation andCarilionClinicpartner innew VTC SeedFund

The Merryman family gave generously in support of both the Pamplin College of Business and Hokie football. 29 30 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu Daniel, interim deanoftheVirginia-Maryland CollegeofVeterinary Medicine. veterinary medicine toservetheequine community inthe region,”said GregoryB. to advancing thecenter andensuringthatitremainsontheleading edgeof “This isasignificant step forwardaswecelebrate ourshared commitment practices for athletic wellness. nonsurgical andsurgical treatments,rehabilitation,anddevelopment ofbest Services attheclinic include complex lamenessdiagnosis,advanced imaging, health,” saidSuzanneYoungkin, amemberofthecenter’s AdvisoryCouncil. integrated veterinary,farrier,andspecialty caretoenhance horsesoundness and “We areveryhonoredtoplayasmallroleinVirginiaTech’s bigvision for performing atoptimalpotential. treatment forlamenessandotherconditionsthatprevent equine athletesfrom Leesburg, Virginia,center’s capacity toprovidecutting-edge diagnostics and Marion duPontScott Equine Medical CenteratMorvenParkexpandedthe The Youngkin Equine SoundnessClinic intheFoutBarnatVirginiaTech’s from SuzanneandGlennYoungkin ofGreatFalls,Virginia. medicine facilityintheheartofVirginiahorse country because ofagenerousgift companions —intheMid-Atlantic regionnowhaveaccess toanenhanced sports Equine athletes ofallkinds—fromracehorses tohuntersandjumpersfamily Youngkin giftenhancesMarionduPont Scott Equine Medical Center leave theregionwhentheybecomesuccessful.” successful,” Meredithsaid.“Italsosendsthemessagethatcompaniesdon’thaveto “It showsthatcompaniescanlaunchinthisregionandbecomeextremely help supportinnovationandeconomicgrowth. exciting news for both the region’s economy as a whole and for the center he runs to Corporate ResearchCenterPresidentJoeMeredithsaidthepartnershipwas a memberoftheCorporateResearchCenterboard. Tech andcofoundedTorcwithteammatestocommercializetheirdiscoveries.Heis Fleming participatedinmultipleroboticscompetitionswhileenrolledatVirginia Michael Fleming’02,M.S.’03saidinaMarchannouncementofthepartnership Daimler Trucks,theOEMmarketleader,”TorcCEOandVirginiaTechalumnus believe thefastestpathtocommercializingthistechnologyisinpartnershipwith “There isastrongbusinesscaseforself-drivingtrucksintheU.S.market,andI Daimler Trucksfamily. Research Centerthatispioneeringautonomousdrivingsolutions—hasjoinedthe Blacksburg-based TorcRobotics—aformertenantoftheVirginiaTechCorporate Torc Robotics’ autonomoustechnologiesattract leader intrucking AND INITIATIVES ACCOMPLISHMENTS

of the Daimler Trucks family. Trucks Daimler the of part now is Torc Robotics Blacksburg-based 31 vtf.org 20118-2019 ANNUAL REPORTS give.vt.edu 32 vtf.org 2018-2019 ANNUAL REPORTS give.vt.edu THANK YOU. Your generosity and engagement are helping Virginia Tech to change the world for the better. Non-Profit U.S. Postage PAID Bedford, VA Permit No. 3 University Gateway Center (0142) 902 Prices Fork Road Blacksburg, VA 24061 Address service requested

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