living our motto serving the world the virginia tech … · · 2016-11-02michael m. moyer...

FISCAL YEAR 2015-16Living our motto ... serving the world THE VIRGINIA TECH FOUNDATION AND

PHILANTHROPY ANNUAL REPORT

2 | vtf.vt.edu | 2015-16 Annual Report | givingto.vt.edu

4 Virginia Tech Foundation officers and

administration and Board of Directors

4 Advancement Division Senior Leadership Team

5 Virginia Tech Foundation properties

6 The power of partnerships John E. Dooley

Chief Executive Officer and Secretary-Treasurer

7 Ut Prosim in action James K. Asselstine

Chairman of the Virginia Tech Foundation Board

8 The importance of ambition Charlie Phlegar

Vice President for Advancement

10 Answering the call to serve, throughout the world

18 Virginia Tech Foundation financial reports

24 Advancement financial reports

28 Accomplishments and initiatives

38 Fuel for excellence

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 of Equity and Access at 540-231-2010 or Virginia Tech, North End Center, Suite 2300 (0318), 300 Turner St. NW, Blacksburg, VA 24061.

Living our motto …serving the world

givingto.vt.edu | 2015-16 Annual Report | vtf.vt.edu | 3

ADMINISTRATION

John E. Dooley

CEO and Secretary-Treasurer540-231-2265 | [email protected]

Terri T. Mitchell

Associate Vice President forAdministration and Controller540-231-0420 | [email protected]

Kevin G. Sullivan

Associate Vice President for Administration and General Counsel540-231-2875 | [email protected]

John J. Cusimano

Associate Vice President for Finance540-231-7094 | [email protected]

OFFICERS

James K. Asselstine

Chairman of the Board

John E. Dooley

Chief Executive Officer and Secretary-Treasurer

Charles D. Phlegar

Executive Vice President

M. Dwight Shelton Jr.

Executive Vice President

BOARD OF DIRECTORS

Nancy H. Agee

James K. Asselstine

Mary Blackwood

David L. Calhoun

George B. Clarke IV

Douglas C. Curling

Ben J. Davenport Jr.

Sandra C. Davis

Theodore S. Hanson

Greta J. Harris

Leonard P. Harris

Jeffrey C. Hartman

Amy B. Hayes

Gregory J. Herrema

W. Todd Holtzman

Deborah A. Koller

John R. Lawson II

Darrell D. Martin

Priscilla McCall

Robert D. Moser Jr.

James E. Pearman Jr.

James A. Pearson

Brandon D. Perry

Deborah Petrine

A. Carole Pratt

John B. Rowsell

Kristi L. Rowsell

Peter M. Rup

Winston A. Samuels

Timothy D. Sands

James R. Smith

John A. “Alex” Urquhart Jr.

Carl G. Verboncoeur

William Hanson West Jr.

ADVANCEMENT DIVISION SENIOR LEADERSHIP TEAM

Charles D. Phlegar

Vice President for Advancement540-231-7676 | [email protected]

Angela L. Hayes

Chief of Staff540-231-7676 | [email protected]

Tracy Vosburgh

Senior Associate Vice President for University Relations540-231-5396 | [email protected]

Matthew M. Winston Jr.

Senior Associate Vice President for Alumni Relations540-231-6285 | [email protected]

Rhonda Arsenault

Associate Vice President for Advancement Services540-231-2833 | [email protected]

Michael M. Moyer

Associate Vice President of Development for Colleges540-231-5479 | [email protected]

Monecia H. Taylor

Associate Vice President for Principal Gifts540-231-2809 | [email protected]

John W. Torget

Assistant Vice President for Leadership Gifts and Annual Giving540-231-2966 | [email protected]


-

1-7

8

13

1415

16 17

18

10 -12

The Virginia Tech Foundation is a 501(c)(3) nonprofit, nonstock corporation established in 1948. It provides private financial support to enable the forward progress of Virginia Tech. Through successful asset management and the generosity of Virginia Tech alumni and friends, the foundation continues to increase its real estate portfolio, endowment value, and support to university initiatives.

FOUNDATION PROPERTIESThe foundation’s real estate portfolio includes properties across the Commonwealth of Virginia and in Switzerland. These properties support university priorities such as innovation and economic development, academics, and travel and recreation. This diverse portfolio provides program facilities and generates private resources to enable Virginia Tech to accomplish its land-grant mission in service to the commonwealth, the nation, and the world.

Virginia Tech Foundation Inc.

1 Corporate Research Center, Blacksburg

2 417 Clay Street, Blacksburg

3 Heth Property, Blacksburg

4 North End, Blacksburg

5 Quarry, Blacksburg

6 Smith’s Landing, Blacksburg

7 University Gateway Center, Blacksburg

8 Kentland Farm, Montgomery County

9 Pete Dye River Course, Pulaski County

10 Hotel Roanoke, Roanoke

11 WVTF Public Radio, Roanoke

12 Virginia Tech Carilion School of Medicine, Roanoke

13 Reynolds Homestead, Patrick County

14 Marion duPont Scott Equine Medical Center, Leesburg

15 Virginia Tech Research Center – Arlington, Arlington

16 Washington Alexandria Architecture Center, Alexandria

17 School of Public and International Affairs, Alexandria

18 Hampton Seafood Lab, Hampton

19 Steger Center for International Scholarship, Riva San Vitale, Switzerland

Transmitters are full power radio stations. Translators are lower-power broadcasts that repeat the signals of transmitters.

Ù WVTF translator

� WVTF transmitter

Riva San Vitale, Switzerland


As Virginia’s senior land-grant university, Virginia Tech is uniquely commissioned to ensure that knowledge is not only created, but is applied in service to communities near and far. The Virginia Tech Foundation exists to help our university achieve its mission to the fullest degree.

We do this through high-impact, strategic initiatives that promote teaching, research, and economic vitality. We do this through prudent stewardship of the philanthropic investments that donors make in our institution. And we do this by working with a host of partners, both within the university and without, to maximize the positive impact that we can make.

One exciting example is an unmanned-systems-research partnership with NASA that recently emerged in Hampton Roads. The relationship is likely to lead to scientific breakthroughs. It also will help our ambitious initiative to build on the success of our Corporate Research Center, in Blacksburg, with a new research park in Newport News called Tech Center at Oyster Point.

NASA is an important partner for an initiative like this. And it’s a collaborator that any major research university would welcome. But when it comes to Tech Center, we’ve taken an extremely broad approach in

The power of partnerships

an effort to advance not only research, but the overall economy of a key region in our state. By linking our project to the extensive private development of both retail and housing, we are helping to bring far more benefits than we could do alone.

In the pages that follow, we document a successful year of investing and fundraising. We also highlight several initiatives, including Tech Center, that illustrate how Virginia Tech is making an impact on a regional, national, and global scale — with help from the foundation and the many generous donors who support our university.

Helping Virginia Tech to more effectively serve the world is a responsibility that we take seriously. I hope you share our sense of pride in the many accomplishments of the Virginia Tech Foundation and the university’s Advancement Division during fiscal year 2015-16.

A message from John E. Dooley, CEO and secretary-treasurer

From left: John Dooley, Virginia Tech President Tim Sands, and James Asselstine.


Virginia Tech’s motto, Ut Prosim, translates from Latin as “That I May Serve.” For our students, alumni, faculty, and staff, it’s more than a familiar phrase. It’s a guiding principle.

One of the great pleasures of serving my alma mater on several boards, including the Virginia Tech Foundation’s, has been to see up close the remarkable degree to which Ut Prosim is embraced within our institution. This motto is rooted in history, but we are a forward-looking university, so we live it by pushing ourselves to serve on an ever-increasing scale. We saw numerous examples of this in fiscal year 2015-16.

Like many enthusiastic Hokies, I was excited and proud to learn that Time Magazine named Virginia Tech Professor Marc Edwards as one of the 100 most influential people of 2016. His diligent work leading a research team that included dozens of our students helped draw the national spotlight to a public health crisis caused by lead-contaminated water in Flint, Michigan.

Virginia Tech’s Flint Water Study team demonstrated to the world just how powerful an impact can be made by a university that prioritizes putting learning into action. Work like this is incredibly important. It raises our university’s

Ut Prosim in action

stature, changes the lives of the students who engage in it, and helps communities in need.

At Virginia Tech, we don’t just teach. We don’t just do research. We provide hands-on learning opportunities. We put knowledge to work to solve complex problems. We build social capacity to benefit humankind. We know that to fully live Ut Prosim and to stay relevant in today’s world, we cannot serve only our students, our region, or even our commonwealth. We must serve on a global scale.

University leaders, including President Tim Sands and Provost Thanassis Rikakis, understand this. They are tremendously energetic administrators who are pushing our university toward new horizons at a rapid pace.

I’m excited to watch this process unfold and to see how the Virginia Tech Foundation is helping to fuel it through many initiatives, several of which are detailed on pages to come. I hope you enjoy learning about them, and I encourage you to embrace your own opportunities to serve the world in the spirit of Ut Prosim.

A message from James K. Asselstine, chairman of the Virginia Tech Foundation Board


In April, nearly 1,000 students stopped by a tent on the Drillfield to sign a letter of thanks to a donor. Ideally, every on-campus student could do this. But even if that had happened, we would have been more than 900 letters shy of reaching all 31,516 contributors from fiscal year 2015-16, so I’d like to take this opportunity to thank them.

The $101.5 million we received set a record for gift income and was a 13 percent increase on 2014-15. We surpassed by nearly 10 percent our previous record of $92.2 million, received in 2010-11. Twelve colleges or programs received at least 10 percent more. Our Office of Annual Giving generated 6 percent more revenue, setting a new record of $7.1 million.

For the first time, we began reporting the new gifts and commitments that were received or documented. Compared to gift-income, which can fluctuate significantly based on when deferred gifts are realized, new gifts and commitments better illustrate the results of our fundraising efforts in a given year. I’m happy to report that we topped $100 million in this area as well, with $100.4 million received or documented. We will now benchmark from this figure and report it to you each year.

The past fiscal year was my first as vice president. I could not be more excited about

The importance of ambition

what has been accomplished and where we are headed as an advancement team. I am grateful to be at a university with visionary leaders such as President Tim Sands and Provost Thanassis Rikakis. In today’s environment of flat or declining state support and fierce competition among schools for the best students, faculty, and research partners, it’s impossible to overstate the importance of philanthropy to our continued progress.

Setting a fundraising record is encouraging. But it’s not a worthy aim in itself. We measure our ultimate success not by how we compare to an earlier version of ourselves, but by where we stand among leading research institutions worldwide. In that regard, we still have far to go. One pressing need is to improve our alumni giving percentage, which was just 9 percent in 2015-16. President Sands recently announced a goal to increase this to 22 percent by 2022, our 150th anniversary year. We embrace that goal, and hope you will help spread the word about its importance.

It’s essential that we remain ambitious and never let up in our efforts to improve. Fortunately, we have university leaders who understand the importance of ambition. We also have a strong base of generous alumni, friends, and philanthropic partners, which we will work hard to grow each year.

A message from Charlie Phlegar, vice president for advancement


“We measure our ultimate success not by how we compare

to an earlier version of ourselves, but by where we stand

among leading research institutions worldwide.”

Charlie Phlegar


Answering the call to serve, throughout the world


Nearly 300 miles from his university’s main

campus, a Virginia Tech administrator meets with

public officials and private developers to discuss a

100-acre development containing a research park,

housing, and retail, which together will bring more

than 5,500 jobs to Newport News.

In Michigan, a concerned mother reaches out to a

Virginia Tech professor known for his expertise in lead-

contamination of public water, which starts a process

that will bring national attention, and hundreds of

millions of dollars of aid, to the City of Flint.

Across the Atlantic Ocean, educators and

community-service workers in Senegal draw on

lessons learned from Virginia Tech as they partner

with university officials to implement programs

inspired by land-grant-institution principles.

The call to help can come from near or far. When

it does, Virginia Tech seeks ways to live its motto

of Ut Prosim (That I May Serve). Through financial

support, administrative assistance, or direct

oversight, the Virginia Tech Foundation helps

the university embrace new opportunities and

partnerships to serve communities on an ever-

broader scale.

Answering the call to serve, throughout the world


Architect’s rendering of an aerial view of Tech Center at Oyster Point in Newport News, Virginia


The Virginia Tech Corporate Research Center is widely recognized for its effectiveness in bringing highly skilled jobs to Blacksburg. When a new idea emerged for a similar initiative in Newport News, it came with two major new components: housing and retail.

The plan for Tech Center at Oyster Point, which is being developed in Newport News by the W.M. Jordan Company, includes three phases. The first phase of the project has already developed 250,000 square feet of restaurant and retail space, with businesses ranging from an AT&T store to a Zoë’s Kitchen restaurant. Phase two includes a fitness center and apartments that are expected to open in fall 2016. Phase-three construction of the first research-park building is on pace to start by the end of the calendar year.

A primary goal of the project is to enhance the economy of Newport News by developing a center of entrepreneurial excellence and creating a culture of business success through collaboration. More than 25 companies have expressed interest in space at the research park. Four companies have set up temporary operations at a business incubator adjacent to the site. Within the Hampton Roads metropolitan area, which contains

Newport News, an estimated 15,000 skilled employees leave the military each year, ready to step into technology-focused jobs. Many leave the region, too. The Tech Center project is expected to help retain talent and to increase by 52 percent the region’s employment in the professional, scientific, and technical-services sector.

One benefit of the Corporate Research Center in Blacksburg has been to create opportunities for Virginia Tech researchers and students to connect with national and international companies. Tech Center at Oyster Point is expected to foster similar partnerships, with potential areas for collaboration including food science and safety, electrical engineering, and computer science.

“The new paradigm of successful economic development is living, working, and playing in the same area,” says Corporate Research Center President and CEO Joe

Meredith, who is managing the research-park portion of the location. “We want to take that even further, to include learning and professional growth. We believe that a curious, flexible workforce is an essential component to growing businesses that matter. When we create opportunities for students and faculty, we are laying the foundation for a vibrant economic future.”

W.M. Jordan Company President and CEO John Lawson adds that “our vision is to be a catalyst for using science from two major federal laboratories — the Thomas Jefferson National Laboratory and NASA/Langley — to create new companies and expand the capabilities of existing businesses. There are world-class technologies and entrepreneurial skills available in our community. Virginia Tech will lead the way to increased collaboration and communication.”

New opportunities for Newport News

Serving in Newport NewsTech Center at Oyster Point

million in associated labor income

companies already expressing interest in research-park space

permanent new jobs

increase in economic output in Newport News

$810.5

$28.3MILLION ADDITIONAL STATE AND LOCAL TAX REVENUE

25+

5,500+

$371.2

M I L L I O N

This page: Maggie Carolan, an undergraduate member of the Flint Water Study team, talks with residents in Flint, Michigan, in March.Opposite page: Marc Edwards, the Charles P. Lunsford Professor of Civil and Environmental Engineering speaks about the crisis.


When Virginia Tech undergraduate Maggie Carolan answered a call from Marc Edwards, she had no idea it would change her life.

Edwards, the Charles P. Lunsford Professor of Civil and Environmental Engineering, was on the line to notify her of acceptance into a National Science Foundation Research Experience for Undergraduates program in water science at Virginia Tech. It marked the beginning of a transformative — and incredibly public — venture into water research and environmental policy for Carolan.

Edwards made his call to Carolan not long after receiving one of his own, from Lee-Anne Walters of Flint, Michigan, who was deeply concerned. Her twin boys suffered from rashes; her older daughter’s hair was falling out; and her older son had persistent abdominal pain. An Environmental Protection Agency official referred her to Edwards. His initial testing of 30 water samples identified a major problem.

Throughout the 2015-16 academic year, Edwards and a team of Virginia Tech students helped lead the charge to help the people of Flint. From broad testing across the city, to national media events, to testifying before environmental leaders and lawmakers, the team worked diligently to support affected families.

Siddartha Roy, who is pursuing a Ph.D. in civil and environmental engineering, serves as the writer and communications director for the study team. “Flint has fundamentally changed my life,” says Roy.

“Specifically, it has shown me how listening to the voices of affected communities and using science as a public good is more important than ever.”

Roy, who is from Palanpur, India, earned a master’s from Virginia Tech in 2014. In addition to his involvement in water research, he is an award-winning poet, activist, and photographer. Working in Flint has helped him understand the intersection of science and public service.

“Personally, it has made me ultra-vigilant in mastering the science because if we get things wrong, people can get hurt,” Roy explains. “Making sure my personal and professional relationships are based on the principles of honesty, compassion, and mutual growth is something I am striving to do as well.”

Carolan is the only undergraduate who has been involved with the Flint Water Study team since its beginning. In fall 2015, she spent her birthday assembling letters that would notify the residents of Flint of the

Bringing national focus to Flintcritically negative results of testing on water from their homes. In January 2016, she was part of a public seminar that earned national media attention. And by spring break, Carolan found herself at ground zero in Flint, visiting homes and businesses to collect additional samples for analysis.

As the recipient of numerous scholarships including an Academic Merit Scholarship, a College of Natural Resources and Environment Honors Endowment Scholarship, a Sustainable Water Scholarship, and a Sustainable Water Undergraduate Fellowship, Carolan is enthusiastic about using her energy and education to give back.

“I appreciate the assistance I have received and the opportunities that I have had as an undergraduate at Virginia Tech,” she says. “There is a culture here of discovery and innovation that is collaborative and interdisciplinary. With a little drive and motivation there are opportunities to do really cool things that have the potential to make a real difference. I have the chance to play around a lot with a broad scope of experiences in an environment where making mistakes isn’t failing; it’s learning. What I have been a part of has changed lives, beginning with my own.”

Serving in MichiganThe Flint Water Study team

million needed to replace or repair damaged infrastructure

sites analyzed byVirginia Tech in August 2015

test kits distributedto Flint residents

25UNDERGRADUATES, GRADUATE STUDENTS, OR RESEARCH FACULTY HAVE BEEN ON TEAM

tests conducted by team5,000+

24,000WATER FILTERS DISTRIBUTED

TO FLINT RESIDENTS

300

300

$700+

This page: Female entrepreneurs learn new skills in Senegal.Opposite page: A Senegalese youth participates in 4-H activities.


When Virginia Tech’s Office of International Research, Education, and Development landed a $28 million grant from the United States Agency for International Development to help improve agricultural education and research in Africa, it found that working through the university’s foundation

“allowed us to be far more nimble in our Senegal research project,” says Guru Ghosh, vice president of Outreach and International Affairs at Virginia Tech.

Over the past five years, the program, known as Education and Research in Agriculture Senegal, has made considerable impact, and is credited with helping to inspire a mandate in Senegal for universities to focus more on outreach.

“A big part of the project has to do with trying to instill the land-grant mission in a contextually appropriate way into the Senegalese system of agricultural training, research, and outreach,” says Thomas Archibald, an assistant professor in the Department of Agricultural, Leadership, and Community Education, who recently has been coordinating efforts in Senegal.

“Just as in the U.S., sharing knowledge between communities and researchers can have a direct and positive impact on communities’ development.”

ERA Senegal is part of Feed the Future, the U.S. government’s global hunger and food security initiative. Two areas of emphasis for the Senegal program in fiscal year 2015-16 were to train female entrepreneurs how to sell locally produced food on a larger scale and to engage more young people in agricultural learning. Among the more than 1,000 women to receive agricultural commercialization training was Adama Faye, who learned new processes for millet production and packaging.

“We’ve noticed that our bottom line has improved by about 80 percent, since there is now a notable difference in the quality of our products, [and] also the shelf-life of our products has increased,” she says.

When looking to find ways to connect to young people, Archibald and other ERA Senegal administrators decided to use the 4-H model of Cooperative Extension that is widely adopted in the United States. Bineta Guisse is a program coordinator who participated in the effort to establish dozens of new 4-H clubs, which combined serve hundreds of young people. Peace Corps volunteers also support the effort.

“Youth are the future,” Guisse says. “Investing in them, if well done, will certainly be the firmest foundation for long-lasting development.”

Shortly before the end of the fiscal year, Guisse visited Virginia Tech and spoke about the program to numerous young people participating in Virginia 4-H clubs. Among the crowd was Elizabeth Koranek of Madison County, who was inspired to raise money to help 4-H in Senegal by auctioning off a market lamb. Koranek raised $2,000, with help from 4-H agents who spread the word about her effort.

“As a young 4-Her, I never really understood what the program meant by its ‘hands to larger service’ pledge,” says Koranek, who is 17 years old. “But when I heard they were raising money to help the project in Senegal, I realized there was something I could do to help. I guess I was able to really do the ‘hands to larger service.’ It was a good feeling.”

Virginia Tech lives out its mission across the commonwealth, the nation, and the world. The Virginia Tech Foundation and the generous donors who support Virginia Tech help students, faculty members, and partners as they answer the call to serve.

The land-grant model goes global

Serving in AfricaERA Senegal

U.S. universities engaged in the ERA Senegal initiative led by Virginia Tech, in partnership with Purdue, Tuskegee, and the University of Connecticut.

30+4-H CLUBS ESTABLISHED, SERVING

HUNDREDS OF YOUNG PEOPLE

locally produced food products certified forcommercialization

50+2,500+

WOMEN ENTREPRENEURS RECEIVED TRAINING

4

Foundation contributions in millions

$67.9

$77.0

$81.1

$98.5

$93.2

100

90

80

70

60

50

20122014

20162015

2013

Value of endowment in millions

$594.8

$660.3

$796.4$817.8

$843.0900

800

700

600

500

400

20122014

20162015

2013

Foundation expenditures in millions

$135.5

$143.3

$155.9

$166.5

$184.9190

180

170

160

150

140

130

120

20122014

20162015

2013

Foundation assets in millions

$1,210.7

$1,302.6

$1,488.8$1,507.8 $1,510.6

1600

1500

1400

1300

1200

1100

1000

20122014

20162015

2013

Foundation financial reportsThe Virginia Tech Foundation’s financial reporting follows U.S. Generally Accepted Accounting Principles (GAAP).


Revenue, gains, and other support Contributions . . . . . . . . . . . . . . $93,249,612 . . . . . . . . 54.2%

Investment income . . . . . . . . . . $10,657,083 . . . . . . . . . 6.2%

Gain (loss) on investments . . . . ($7,072,519) . . . . . . . . -4.1%

Rental income . . . . . . . . . . . . . . $37,296,155 . . . . . . . . 21.7%

Hotel Roanoke revenue . . . . . . . $21,004,747 . . . . . . . . 12.2%

Other income . . . . . . . . . . . . . . $15,875,874 . . . . . . . . . 9.2%

Change in fair value of interest rate swaps . . . . . . . . . ($328,401) . . . . . . . . -0.2%

Golf course revenue . . . . . . . . . . $1,445,609 . . . . . . . . . 0.8%

TOTAL . . . . . . . . . . . . . . . . . . . $172,128,160 . . . . . . . . .100%

Agriculture . . . . . . . . . . . . . . . . . . . . . . . . .$39,220,060 . . . . . . $17,332,825 . . . . . . . .$10,060,274 . . . . . . . . $11,826,961

Architecture . . . . . . . . . . . . . . . . . . . . . . . .$20,419,712 . . . . . . . $5,216,036 . . . . . . . . .$5,974,520 . . . . . . . . . $9,229,156

Science . . . . . . . . . . . . . . . . . . . . . . . . . . .$24,392,766 . . . . . . . $8,885,189 . . . . . . . .$13,114,987 . . . . . . . . . $2,392,590

Business . . . . . . . . . . . . . . . . . . . . . . . . . .$90,607,697 . . . . . . $32,110,395 . . . . . . . .$29,386,446 . . . . . . . . $29,110,856

Engineering . . . . . . . . . . . . . . . . . . . . . . .$137,734,047 . . . . . . $63,994,685 . . . . . . . .$44,416,856 . . . . . . . . $29,322,506

Natural Resources and Environment. . . . .$15,645,054 . . . . . . . $4,266,198 . . . . . . . . .$4,790,045 . . . . . . . . . $6,588,811

Liberal Arts and Human Sciences . . . . . . .$18,970,461 . . . . . . . $9,129,471 . . . . . . . . .$3,704,918 . . . . . . . . . $6,136,072

Veterinary Medicine . . . . . . . . . . . . . . . . . .$29,692,093 . . . . . . $13,759,325 . . . . . . . . .$7,212,519 . . . . . . . . . $8,720,249

Athletics . . . . . . . . . . . . . . . . . . . . . . . . . . .$58,429,276 . . . . . . $57,860,055 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $569,221

Extension . . . . . . . . . . . . . . . . . . . . . . . . . . .$9,771,371 . . . . . . . . $528,481 . . . . . . . . . . . . . . . . . . . . . . . . . . . $9,242,890

General . . . . . . . . . . . . . . . . . . . . . . . . . .$202,676,320 . . . . . . $81,129,854 . . . . . . . . .$3,186,027 . . . . . . . $118,360,439

Other agency . . . . . . . . . . . . . . . . . . . . . . .$94,860,777 . . . . . . . . $137,752 . . . . . . . . . . . . . . . . . . . . . . . . . . $94,723,025

Pratt/Animal Nutrition . . . . . . . . . . . . . . . .$21,186,261 . . . . . . $12,711,757 . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,474,504

Pratt/Engineering . . . . . . . . . . . . . . . . . . . .$21,830,680 . . . . . . $16,001,888 . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,828,792

Quasi-endowment . . . . . . . . . . . . . . . . . . .$18,084,038 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,084,038

VTCCA . . . . . . . . . . . . . . . . . . . . . . . . . . . .$39,470,546 . . . . . . $33,176,617 . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,293,929

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . .$842,991,159 . . . . . $356,240,528 . . . . . . .$121,846,592 . . . . . . . $364,904,039

Endowment at market valueCollege or program Total Scholarships Professorships Other

Expenditures by college or program

Agriculture and Life Sciences . . . . . . . . . .$4,001,180 . . . . . . . . . .$830,560 . . . . . . . . . . . .$3,170,620

Architecture and Urban Studies . . . . . . . . .$1,895,386 . . . . . . . . . .$295,850 . . . . . . . . . . . .$1,599,536

Science . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,735,110 . . . . . . . . . .$450,821 . . . . . . . . . . . .$2,284,289

Business . . . . . . . . . . . . . . . . . . . . . . . . . .$4,532,926 . . . . . . . . $1,442,638 . . . . . . . . . . . .$3,090,288

Engineering . . . . . . . . . . . . . . . . . . . . . . .$30,278,677 . . . . . . . . $3,695,606 . . . . . . . . . . .$26,583,071

Natural Resources and Environment . . . . .$2,427,495 . . . . . . . . . .$369,756 . . . . . . . . . . . .$2,057,739

Liberal Arts and Human Sciences . . . . . . .$1,925,327 . . . . . . . . . .$505,268 . . . . . . . . . . . .$1,420,059

Veterinary Medicine . . . . . . . . . . . . . . . . . .$2,909,156 . . . . . . . . . .$809,983 . . . . . . . . . . . .$2,099,173

Athletics . . . . . . . . . . . . . . . . . . . . . . . . . .$25,640,856 . . . . . . . $12,200,304 . . . . . . . . . . .$13,440,552

Extension . . . . . . . . . . . . . . . . . . . . . . . . . . . $963,984 . . . . . . . . . . .$22,366 . . . . . . . . . . . . . $941,618

Military Affairs . . . . . . . . . . . . . . . . . . . . . .$2,968,902 . . . . . . . . $1,599,320 . . . . . . . . . . . .$1,369,582

General scholarship . . . . . . . . . . . . . . . . . .$4,433,514 . . . . . . . . $4,433,514 . . . . . . . . . . . . . . . . . . . . .

Development . . . . . . . . . . . . . . . . . . . . . . .$8,812,619 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$8,812,619

Alumni . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,937,985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,937,985

Outreach . . . . . . . . . . . . . . . . . . . . . . . . . . . $457,096 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $457,096

Research . . . . . . . . . . . . . . . . . . . . . . . . .$10,461,519 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$10,461,519

Student Affairs . . . . . . . . . . . . . . . . . . . . . . . $666,761 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $666,761

4-H centers . . . . . . . . . . . . . . . . . . . . . . . . . $793,458 . . . . . . . . . . .$63,284 . . . . . . . . . . . . . $730,174

Steger Center . . . . . . . . . . . . . . . . . . . . . . . . $886,759 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $886,759

WVTF Public Radio . . . . . . . . . . . . . . . . . . .$3,255,966 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$3,255,966

Foundation operations/general

VTREF . . . . . . . . . . . . . . . . . . . . . . . . . . .$30,426,439 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$30,426,439

Corporate Research Center . . . . . . . . . . . .$4,662,144 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$4,662,144

River Course . . . . . . . . . . . . . . . . . . . . . . .$2,357,968 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,357,968

Real estate . . . . . . . . . . . . . . . . . . . . . . . . .$6,211,324 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$6,211,324

Administrative . . . . . . . . . . . . . . . . . . . . . .$5,303,530 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$5,303,530

Other . . . . . . . . . . . . . . . . . . . . . . . . . . . .$22,962,488 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$22,962,488

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . .$184,908,569 . . . . . . . $26,719,270 . . . . . . . . . .$158,189,299

College/university program

Unit Total Student financial aid Program support

Designation of contributions

Agriculture and Life Sciences . . . . . .$4,041,652 4.3%

Architecture and Urban Studies . . . . .$2,277,143 2.4%

Science . . . . . . . . . . . . . . . . . . . . . . .$3,535,617 3.8%

Business . . . . . . . . . . . . . . . . . . . . . .$6,243,727 6.7%

Engineering . . . . . . . . . . . . . . . . . . .$31,781,687 34.1%

Natural Resources and Environment .$1,300,851 1.4%

Liberal Arts and Human Sciences . . .$1,491,074 1.6%

Veterinary Medicine . . . . . . . . . . . . . .$1,476,770 1.6%

Athletics . . . . . . . . . . . . . . . . . . . . . .$21,253,323 22.8%

Extension . . . . . . . . . . . . . . . . . . . . . . . $525,940 0.6%

Academic Affairs . . . . . . . . . . . . . . . .$3,802,977 4.1%

International programs . . . . . . . . . . . . . $24,984 0.0%

Research and graduate studies . . . . .$2,122,179 2.3%

Student Affairs . . . . . . . . . . . . . . . . . . . $697,503 0.7%

Corps of Cadets . . . . . . . . . . . . . . . . .$6,216,952 6.7%

WVTF Public Radio . . . . . . . . . . . . . . .$2,723,040 2.9%

4-H centers . . . . . . . . . . . . . . . . . . . . . $584,778 0.6%

Future designations . . . . . . . . . . . . . . . $816,258 0.9%

Pledges receivable . . . . . . . . . . . . .($5,834,459) -6.3%

Other . . . . . . . . . . . . . . . . . . . . . . . . .$8,167,616 8.8%

TOTAL . . . . . . . . . . . . . . . . . . . . . . . .$93,249,612 100%

College/program/other Contributions Allocation


Expenditure by function

Support to university programs . . . . . . . $89.8 . . . . . . . 48.5%

Student financial assistance . . . . . . . . . $26.7 . . . . . . . 14.4%

University capital outlay . . . . . . . . . . . . . $12.9 . . . . . . . . 7.0%

Fundraising . . . . . . . . . . . . . . . . . . . . . . . . $8.8 . . . . . . . . 4.8%

Research Park . . . . . . . . . . . . . . . . . . . . . $15.2 . . . . . . . . 8.2%

Hotel Roanoke . . . . . . . . . . . . . . . . . . . . . $20.3 . . . . . . . 11.0%

Management and general . . . . . . . . . . . . . $8.8 . . . . . . . . 4.8%

River Course . . . . . . . . . . . . . . . . . . . . . . . $2.4 . . . . . . . . 1.3%

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . $184.9 . . . . . . . .100%

Millions %

Endowment purpose

Scholarships . . . . . . . $356,240,528 . . . . . 72.6% . . . . 2,542

Professorships . . . . . $121,846,592 . . . . . . 6.3% . . . . . .219

Other . . . . . . . . . . . . . $364,904,039 . . . . . . 21.1% . . . . . 738

TOTAL . . . . . . . . . . . . $842,991,159 . . . . . . 100% . . . . 3,499

$ % # of funds


Endowment value 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

Fiscal year Endowment market value # of students $ per student


Foundation endowment highlightsAs of June 30, 2016, the market value of all endowments held by the Virginia Tech Foundation Inc. totaled $843.0 million. Of that total, $798.9 million is invested in the foundation’s pooled consolidated endowment fund, while $44.1 million is held separately in notes, deeds of trust, gift annuities, contributions receivable, real estate partnerships, and other miscellaneous endowed assets.

The June 30 allocation exposures of the foundation’s pooled endowment fund consisted of 46.6 percent global equities, 14.0 percent real assets, 18.8 percent credit, 0.2 percent government bonds, and 20.4 percent cash and cash equivalents. The fund achieved a total return of 0.0 percent for the year ending June 30 and an annualized return of 7.3 percent over the trailing five-year period.

The overriding principle of the foundation’s endowment program is that funds should be managed so that a gift today will fund a donor’s objective in perpetuity. For example, if a benefactor endows a scholarship, the money is managed with the goal of maintaining the real value of

the endowment over time to keep pace with inflation. Each gift entering the consolidated endowment fund purchases units analogous to shares in a mutual fund, and a program support payout-per-unit, or dividend, is paid quarterly.

In an effort to maintain the endowment’s purchasing power, the payout rate for program support is adjusted annually to reflect the change in the Consumer Price Index over the preceding calendar year. A 12-quarter average of endowment values is used to smooth out the unit values when determining if program spending falls within the fiscal year 2015-16 approved range of 3.1-4.6 percent. Without this moving average, funding might dramatically rise in one year, then fall drastically the next, leaving the beneficiaries of the endowments vulnerable to the volatility of the capital markets.

Policy on endowment management is made by the foundation’s investment committee, whose main focus is the asset allocation of the fund and the endowment’s spending policy. Virginia Tech Foundation staff lead asset allocation

* Comprised of 60% MSCI All Country World Index, 30% Barclays Global Aggregate Index, and 10% FTSE NAREIT Global Index.

Consolidated endowment performanceFoundation endowment

Benchmark*

0.0%

12

9

6

3

01 year 5 year 10 year3 year

1.1%

4.9%5.7%

6.1%

7.7%

6.4%7.3%

decisions, the selection and retention of investment managers, and performance monitoring. Consultants are retained for operational diligence. To completely diversify its portfolio, management of the fund is allocated across more than 65 management firms, offering a wide variety of asset classes and investment styles.


Sources of private gift income

Uses of private gift income1 Current operations . . . . . . . .$53,187,098 . . . . . . . 52.4%

2 Endowment . . . . . . . . . . . . . $27,281,982 . . . . . . .26.9%

3 Capital facilities . . . . . . . . . $15,338,224 . . . . . . . 15.1%

4 Private grants . . . . . . . . . . . . $5,644,627 . . . . . . . . 5.6%

TOTAL . . . . . . . . . . . . . . . . .$101,451,931 . . . . . . . 100%

12

3

4

1

5

6

7

4

32

1 Alumni . . . . . . . . . . . . . . . . . . . . . $42,250,872 . . . . . . . . . . . 41.6%

Alumni . . . . . . . . . . . . . . . . . . . . . . $42,248,107 . . . . . . . . . . . 41.6%

Students . . . . . . . . . . . . . . . . . . . . . . . . . $2,765 . . . . . . . . . . . . 0.0%

2 Parents . . . . . . . . . . . . . . . . . . . . . . $2,417,519 . . . . . . . . . . . . 2.4%

3 Friends . . . . . . . . . . . . . . . . . . . . $15,678,872 . . . . . . . . . . . 15.5%

4 Faculty/staff . . . . . . . . . . . . . . . . . .$1,447,275 . . . . . . . . . . . . 1.4%

Active . . . . . . . . . . . . . . . . . . . . . . . . . $507,864 . . . . . . . . . . . . 0.5%

Retired . . . . . . . . . . . . . . . . . . . . . . . . $939,411 . . . . . . . . . . . . 0.9%

5 Corporations . . . . . . . . . . . . . . . . $19,252,060 . . . . . . . . . . . 19.0%

Direct gifts and grants . . . . . . . . . . .$14,268,756 . . . . . . . . . . . 14.0%

Matching gifts . . . . . . . . . . . . . . . . . .$1,995,441 . . . . . . . . . . . . 2.0%

Private grants . . . . . . . . . . . . . . . . . .$2,987,863 . . . . . . . . . . . . 3.0%

6 Foundations . . . . . . . . . . . . . . . . . . $7,130,839 . . . . . . . . . . . . 7.0%

Direct gifts and grants . . . . . . . . . . . .$4,365,075 . . . . . . . . . . . . 4.3%

Personal/family foundations . . . . . . . . . $109,000 . . . . . . . . . . . . .0.1%

Private grants . . . . . . . . . . . . . . . . . $2,656,764 . . . . . . . . . . . . 2.6%

7 Other organizations . . . . . . . . . . .$13,274,494 . . . . . . . . . . . 13.1%

Donor advised . . . . . . . . . . . . . . . . . .$2,297,433 . . . . . . . . . . . . 2.3%

Organizations . . . . . . . . . . . . . . . . . $10,977,061 . . . . . . . . . . . 10.8%

TOTAL . . . . . . . . . . . . . . . . . . . . .$101,451,931 . . . . . . . . . . . .100%

Advancement financial reportsThe Virginia Tech Advancement Division uses two separate methods of reporting philanthropy, including private gift income received and new gifts and commitments.

Figures represent all gifts and pledge payments received in support of Virginia Tech. This includes all gift income received in the form of cash, securities, in-kind contributions, irrevocable future commitments, and private charitable grants. For the purpose of this report, gifts are counted at face value.


Designation of private gift income1 College of Agriculture and Life Sciences* . . . . . . . . . . . . . . . . . . . . . . . .$4,333,461 . . . . . . 4.3%

2 College of Architecture and Urban Studies . . . . . . . . . . . . . . . . . . . . . . .$3,350,857 . . . . . . 3.3%

3 Pamplin College of Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,654,015 . . . . . . 6.6%

4 College of Engineering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$32,672,571 . . . . . 32.2%

5 College of Liberal Arts and Human Sciences . . . . . . . . . . . . . . . . . . . . . . $1,492,072 . . . . . . 1.5%

6 College of Natural Resources and Environment . . . . . . . . . . . . . . . . . . . . $1,309,745 . . . . . . 1.3%

7 College of Science . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$3,478,264 . . . . . . 3.4%

8 College of Veterinary Medicine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,471,154 . . . . . . 1.4%

9 Administrative/other*** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$3,328,825 . . . . . . 3.3%

10 Center for the Arts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,582,720 . . . . . . 1.6%

11 Corps of Cadets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,937,299 . . . . . . 5.9%

12 Diversity and Inclusion** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $43,001 . . . . . . 0.0%

13 Financial Aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,156,178 . . . . . . 1.0%

14 Graduate School . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $549,043 . . . . . . 0.5%

15 Intercollegiate Athletics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,982,674 . . . . . 21.7%

16 Parents’ Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $189,828 . . . . . . 0.2%

17 Student Affairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $585,136 . . . . . . 0.6%

18 Undergraduate Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,040,982 . . . . . . 1.0%

19 University Libraries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$195,718 . . . . . . 0.2%

20 University unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $412,059 . . . . . . 0.4%

21 Virginia Bioinformatics Institute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $308,625 . . . . . . 0.3%

22 Virginia Tech Carilion Research Institute . . . . . . . . . . . . . . . . . . . . . . . . . . $284,620 . . . . . . 0.3%

23 Virginia Tech Carilion School of Medicine . . . . . . . . . . . . . . . . . . . . . . . . . $386,072 . . . . . . 0.4%

24 W.E. Skelton 4-H Education Conference Center at Smith Mt. Lake . . . . . . $493,548 . . . . . . 0.5%

25 WVTF Public Radio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,568,837 . . . . . . 2.5%

26 Private grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$5,644,627 . . . . . . 5.6%

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $101,451,931 . . . . . .100%

* Includes Middleburg Agricultural Research and Extension Center $52,779. ** Amounts 0.1% and smaller are not shown in the chart. *** Administrative/other listing includes cumulative projects and designations such as Alumni and University Conference Center, alumni programs, independent centers, Information Technology, Reynolds Homestead, and gifts to be designated.

12

3

4

56789

10

11

1314

15

26

25

1718192021222324

16

Figures represent all gifts and pledge payments received in support of Virginia Tech. This includes all gift income received in the form of cash, securities, in-kind contributions, irrevocable future commitments, and private charitable grants. For the purpose of this report, gifts are counted at face value.


Uses of new gifts and commitments Sources of new gifts and commitments1 Current operations . . . . . . . . . . . .$59,740,122 . . . . . . . . . . . 59.5%

2 Endowment . . . . . . . . . . . . . . . . . $20,525,359 . . . . . . . . . . . 20.4%

3 Capital facilities . . . . . . . . . . . . . .$14,509,735 . . . . . . . . . . . 14.5%

4 Private grants . . . . . . . . . . . . . . . . $5,644,627 . . . . . . . . . . . . 5.6%

TOTAL . . . . . . . . . . . . . . . . . . . . .$100,419,843 . . . . . . . . . . . .100%

1

1

2 5

36

4 7

4 3

2

1 Alumni . . . . . . . . . . . . . . . . . . . . . $34,878,247 . . . . . . . . . . . 34.7%

Alumni . . . . . . . . . . . . . . . . . . . . . $34,875,445 . . . . . . . . . . . 34.7%

Students . . . . . . . . . . . . . . . . . . . . . . . . . $2,802 . . . . . . . . . . . . 0.0%

2 Parents . . . . . . . . . . . . . . . . . . . . . $3,339,928 . . . . . . . . . . . . 3.3%

3 Friends . . . . . . . . . . . . . . . . . . . . $15,726,960 . . . . . . . . . . . 15.7%

4 Faculty/staff . . . . . . . . . . . . . . . . . .$1,244,674 . . . . . . . . . . . . 1.2%

Active . . . . . . . . . . . . . . . . . . . . . . . . . $702,011 . . . . . . . . . . . . 0.7%

Retired . . . . . . . . . . . . . . . . . . . . . . . . $542,663 . . . . . . . . . . . . 0.5%

5 Corporations . . . . . . . . . . . . . . . . .$25,757,771 . . . . . . . . . . . 25.7%

Direct gifts and grants . . . . . . . . . . .$20,774,467 . . . . . . . . . . . 20.7%

Matching gifts . . . . . . . . . . . . . . . . . .$1,995,441 . . . . . . . . . . . . 2.0%

Private grants . . . . . . . . . . . . . . . . . .$2,987,863 . . . . . . . . . . . . 3.0%

6 Foundations . . . . . . . . . . . . . . . . . .$6,174,839 . . . . . . . . . . . . 6.1%

Direct gifts and grants . . . . . . . . . . . .$3,449,075 . . . . . . . . . . . . 3.4%

Personal/family foundations . . . . . . . . . . $69,000 . . . . . . . . . . . . .0.1%

Private grants . . . . . . . . . . . . . . . . . $2,656,764 . . . . . . . . . . . . 2.6%

7 Other organizations . . . . . . . . . . .$13,297,424 . . . . . . . . . . . 13.3%

Donor advised . . . . . . . . . . . . . . . . . .$2,297,434 . . . . . . . . . . . . 2.3%

Organizations . . . . . . . . . . . . . . . . .$10,999,990 . . . . . . . . . . . .11.0%

TOTAL . . . . . . . . . . . . . . . . . . . . .$100,419,843 . . . . . . . . . . . .100%

Figures represent all new gifts, new pledges, and testamentary commitments. For the purpose of this report,

testamentary commitments are counted at a discounted value.


Designation of new gifts and commitments1 College of Agriculture and Life Sciences* . . . . . . . . . . . . . . . . . . . . . . . .$3,829,596 . . . . . 3.8%

2 College of Architecture and Urban Studies . . . . . . . . . . . . . . . . . . . . . . .$2,868,857 . . . . . 2.9%

3 Pamplin College of Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,973,747 . . . . . 5.0%

4 College of Engineering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$25,850,550 . . . . 25.7%

5 College of Liberal Arts and Human Sciences . . . . . . . . . . . . . . . . . . . . . . $1,884,584 . . . . . 1.9%

6 College of Natural Resources and Environment . . . . . . . . . . . . . . . . . . . . $1,539,822 . . . . . 1.5%

7 College of Science . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,974,931 . . . . . 4.0%

8 College of Veterinary Medicine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$3,908,478 . . . . . 3.9%

9 Administrative/other** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,027,525 . . . . . 4.0%

10 Center for the Arts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $826,696 . . . . . 0.8%

11 Corps of Cadets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,510,757 . . . . . 4.5%

12 Diversity and Inclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$148,176 . . . . . 0.2%

13 Financial Aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $967,689 . . . . . 1.0%

14 Graduate School . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$540,113 . . . . . 0.5%

15 Intercollegiate Athletics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$28,654,603 . . . . 28.5%

16 Parents’ Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $211,449 . . . . . 0.1%

17 Student Affairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $484,546 . . . . . 0.5%

18 Undergraduate Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $887,788 . . . . . 0.9%

19 University Libraries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $560,659 . . . . . 0.6%

20 University unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $418,948 . . . . . 0.4%

21 Virginia Bioinformatics Institute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $408,620 . . . . . 0.4%

22 Virginia Tech Carilion Research Institute . . . . . . . . . . . . . . . . . . . . . . . . . . $284,745 . . . . . 0.3%

23 Virginia Tech Carilion School of Medicine . . . . . . . . . . . . . . . . . . . . . . . . . . $111,772 . . . . . 0.1%

24 W.E. Skelton 4-H Education Conference Center at Smith Mt. Lake . . . . . . $331,776 . . . . . 0.3%

25 WVTF Public Radio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$2,568,789 . . . . . 2.6%

26 Private grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$5,644,627 . . . . . 5.6%

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $100,419,843 . . . . .100%

* Includes Middleburg Agricultural Research and Extension Center $162,779. ** Administrative/other listing includes cumulative projects and designations such as Alumni and University Conference

Center, alumni programs, independent centers, Information Technology, Reynolds Homestead, and gifts to be designated.

12

3

4

56

7

891011

15

2625

1718192021222324

16

1312

14

Figures represent all new gifts, new pledges, and testamentary commitments. For the purpose of this report,

testamentary commitments are counted at a discounted value.


Since its founding in 1948, the Virginia Tech

Foundation has established a tradition of financial

stewardship designed to advance the university’s

mission. By transforming the financial support of

generous donors into enterprise, the foundation

generates tangible results to benefit faculty, students,

and alumni.

To achieve its goals, the foundation:

invests donated resources to support

university initiatives,

develops and manages a comprehensive real

estate portfolio with properties that support

academic endeavors, promote innovation, and

create opportunities for retail and recreation, and

supports faculty, staff, and students by

managing funds needed to enrich the operation,

research, and teaching of the university.

Through careful management and insightful planning,

the foundation amplifies the impact of philanthropy

and maximizes opportunities for discovery,

learning, and community engagement across the

commonwealth, the nation, and the world.


Accomplishments and initiatives


The Pete Dye River Course of Virginia Tech is a semi-private, daily-fee facility open to the public. It’s the home course for Virginia Tech’s men’s and women’s golf programs, as well as the Virginia Tech Golf Club.

The River Course continues to be recognized as one of the premier campus golf courses in the nation. Moving up one spot from the previous year, it was rated eighth among campus courses by Golfweek in the fall of 2015.

The River Course hosted regional, university, and charity events during the fiscal year, including the 103rd Virginia State Golf Association Amateur Championship, 30 events supporting local charities, and 16 Virginia Tech events. The course also hosted the Blue Ridge Junior Tour Championship and the College Prep Tour.

In October 2015, Preston’s, known for its restaurant at the Inn at Virginia Tech, opened a second location at the River Course. Preston’s at the River Course is a distinctively Dye, distinctively Virginia Tech restaurant, offering delicious cuisine, extended weekend hours, and exclusive catering.

Pete Dye River Courseof Virginia Tech

A view of the terrace at the clubhouse at the Pete Dye River Course

Courtesy of Staci Jones Photography30 | vtf.vt.edu | 2015-16 Annual Report | givingto.vt.edu

The Sixth Annual VT KnowledgeWorks Global Partnership Week, held Aug. 16-22, 2015, brought 55 students and faculty members, from 13 universities around the world, together to collaborate, network, and engage in friendly competition. More than 250 regional participants were involved in or supported the event, including 13 regional technology companies, 25 host families, and 29 sponsors.

VT KnowledgeWorks also initiated a strategic partnership with the Virginia Community Economic Network in order to improve the competitiveness of commonwealth communities and expand the visibility and availability of community and economic development resources statewide.

VT KnowledgeWorks

A new community-development initiative enabled VT KnowledgeWorks to expand SourceLink Virginia, an online entrepreneurship portal that lists more than 260 resource providers. In fiscal year 2015-16, over 4,500 unique visitors explored the program website. New users comprised 75 percent of all site visitors. VT KnowlegeWorks helped increase access to capital and credit for Virginia small businesses through LoanSpot VA, a partnership with the Accion U.S. Network, the nation’s largest nonprofit micro-lender. Over the partnership’s first six months, 150 Virginia businesses applied for microloans from Accion, and several were funded.

Rounding out the fiscal year, in June 2016 VT KnowledgeWorks’ community-development unit organized a statewide event in Petersburg, Downtown Inc., which explored the intersection of entrepreneurship, historic district revitalization, and economic development. More than 50 private- or public-sector professionals attended.

Students participate in the VT KnowledgeWorks Global Partnership Week.


In July 2015, Virginia Tech celebrated the opening of its new Dairy Science Complex at Kentland Farm. Construction was made possible by the Virginia Tech Foundation. The dairy features a milking parlor with state-of-the-art equipment, a modern waste-management system, a special needs heifer barn, a free-stall housing barn, and a pre-weaned calf facility. The new complex bolsters the long-term success of Virginia Tech’s dairy science programs.

In January 2016, the Virginia Tech Foundation acquired 42 acres in order to expand its quarry to nearly 90 acres. The quarry is the primary source of the Hokie Stone used in construction of buildings on Virginia Tech’s main campus. The acquisition will help ensure an adequate supply well into the future.

Also in January, the foundation acquired property adjacent to the Virginia Tech Transportation Institute. The purchase will allow construction of additional road-testing beds. The institute conducts cutting-edge research into automated vehicles and other innovative, transportation-related technologies.

Real estateprojects

Staff work with Hokie Stone at the quarry.


NPR member station WVTF and its auxiliary service, RADIO IQ, produce and acquire high-quality public radio programs for daily broadcast. The station’s coverage area spans more than half of Virginia’s land area. Its 24 radio signals extend from the coalfields of far Southwest Virginia to the capital city of Richmond and the outer fringe of the National Capital Region in Fredericksburg.

WVTF signals are licensed to serve constituents in the commonwealth, but a substantial audience exists beyond state lines, notably in northern North

WVTFPublic Radio

Carolina along the Greensboro to Winston-Salem corridor. Signals also reach the southeastern region of West Virginia, including Beckley, Bluefield, and Greenbrier County.

WVTF’s weekly audience is estimated at more than 170,000. Listeners tune in most frequently to the NPR news magazines “Morning Edition” and “All Things Considered.” However, the station’s broadcasts of classical and jazz music garner a significant audience, as do programs such as “Car Talk” and “This American Life.”

Listening is not restricted to over-the-air broadcasts. Over the internet, WVTF programming reaches audiences in countries beyond the United States.

Excellence in journalism is a hallmark of the station. During fiscal year 2015-16, WVTF reporting staff earned awards from the Radio Television Digital News Association (Edward R. Murrow Awards) and the Associated Press for coverage of local and regional news.

WVTF volunteers read and record news stories for blind listeners.


The Virginia Tech Corporate Research Center


Corporate Research CenterThe Virginia Tech Corporate Research Center has been launching and maturing businesses that matter for nearly 30 years. It continues to drive innovation and growth. The CRC’s 33 buildings house more than 180 research centers or private, high-technology companies, which employ more than 3,000 people. In its spring 2016 issue, Southern Business & Development magazine honored the center as one of the 2016 Best University Research Parks in the South.

Successes in fiscal year 2015-16 included: upgrade to deliver one-gigabit internet circuits to each

office suite, bringing connectivity that is 10 times faster than is typical,

opening of a satellite Carilion Wellness facility with 4,800 square feet of space,

increase in business sponsorship of 62 percent from the previous fiscal year,

multiple building upgrades and functional operational enhancements, and

management of the VT KnowledgeWorks JumpStart program, which provides access to professional resources and services, as well as opportunities for networking and collaboration.


Located in the heart of downtown Roanoke, surrounded by the Blue Ridge Mountains, the Hotel Roanoke is an attractive centerpiece and ideal destination for business and leisure guests.

Benchmark Hospitality International, a leading U.S.-based hospitality management company, took over operations of the hotel and its connected conference center in January 2016. Benchmark Hospitality also manages the Inn at Virginia Tech in Blacksburg. Additionally, the Hotel Roanoke property was rebranded as part of Curio: A Collection by Hilton. Curio is global collection of upscale hotels handpicked for their unique character and personality.

During the fiscal year, more than $6 million was invested to refresh guest rooms, suites, corridors, the executive lounge, meeting rooms, and the pool. Hotel occupancy was 75.8 percent. The number represents a decrease from fiscal year 2014-15’s record-breaking rate, which is largely attributed to a decline in room availability due to renovations. Total revenue for the year topped $21 million, with a net operating profit to the Virginia Tech Foundation of over $2 million.

Hotel Roanoke


Guests enjoy the renovated pool and patio at the Hotel Roanoke.


During a record-setting year of giving to Virginia

Tech, the generosity of tens of thousands made

life-changing experiences possible for our

students, supported critically important research,

and laid the groundwork for construction projects

that will transform our campus.

Nearly 32,000 donors made fiscal year 2015-16

extraordinary. More than 100 new scholarship

funds were established, and nearly 150 new

funds were created to support programs, faculty

members, or capital projects.

The Ut Prosim Society of donors recognizes people

whose lifetime giving totals $100,000 or more. The

society inducted 154 new members and advanced

61 members to higher levels within the society. The

1872 Society was relaunched to honor those who

make leadership-level annual gifts of $5,000 or

more — a group of over 2,100 individuals and

counting. And, 75 new members joined our Legacy

Society of people who make commitments of future

support, bringing membership past 1,900.

The generosity of these and other donors

support thousands of individual stories of growth,

discovery, or transformation. Enjoy some of these

stories in the pages that follow. A virtual reality driving simulator


Fuel for excellence


According to architecture major Darren Siler: “Studying in Europe allowed me to learn so much, not just about architecture, but about other cultures in general.”

He expects to graduate in 2017, and aspires to work for an international firm, where he will be able to draw upon his experiences in other nations. Siler was one of several students to benefit from scholarships established by the late Robert Turner ’72, whose brother, William H. “Harrison” Turner, and sister-in-law, Martha Turner, were inducted into the Ut Prosim Society’s President’s Circle in April.

Harrison Turner says supporting Virginia Tech was a way to honor the wishes of his brother, who spent much of his life in Europe and designed or oversaw construction of many significant buildings in London and Paris.

“Virginia Tech really made possible a sterling career for him,” Harrison Turner says.

“Studying in Europe allowed me to learn so much, not just

about architecture, but about other cultures in general.”

Darren Siler

Scholarship support


Virginia Tech’s education and research programs in intelligent infrastructure and construction will be housed in the newly named Hitt Hall. The buildings will be added to the North Academic Precinct, near Bishop-Favrao Hall, home of the Myers-Lawson School of Construction.

The naming of Hitt Hall recognizes $5 million in support from the charitable foundation controlled by the Hitt family, whose company, HITT Contracting Inc., is one of the nation’s largest general contractors.

“It’s an honor to give back to a university that not only develops passionate, capable minds, but that values the partnership between industry and education,” the company’s chairman, Russell Hitt, has said. Hitt and his wife, Joan, were inducted into the Ut Prosim Society’s President’s Circle in April.

Building the future

President Tim Sands and his wife, Professor Laura Sands, spend time with Russell and Joan Hitt.


Virginia Tech’s baseball stadium was renamed, and is due to be transformed, thanks to a $3.5 million commitment of support from Union Bank & Trust. In addition to providing one of the top varsity baseball facilities in the Atlantic Coast Conference, English Field at Union Park is expected to be a premium location for youth-league play, tournaments, and camps. “With similar missions of serving our communities, Union is proud to support the efforts of Virginia Tech in building a first-class baseball stadium that will enhance both the fan and team experience,” company President and CEO G. William Beale has said.

Collaborative partnership

Community engagement

Carilion Court at Cassell Coliseum

The floor at Cassell Coliseum was renamed Virginia Tech Carilion Court in recognition of a sponsorship that will provide $500,000 a year over 10 years. With the naming contribution, Carilion is supporting scholarships and other initiatives. These include improvements to the coliseum that will benefit programs such as men’s and women’s basketball, volleyball, and wrestling. “VTC is a model of effective collaboration and holds tremendous opportunities for the future of our region,” Carlion Clinic President and CEO Nancy Agee has said, referring to a university-hospital partnership that also includes the Virginia Tech Carilion School of Medicine and Virginia Tech Carilion Research Institute, both in Roanoke.

Architect’s rendering of Union Park


Tim Bell ’17 transferred in as a junior and is making the most of his two years studying environmental horticulture and viticulture at Virginia Tech. He says interning at the Hahn Horticulture Garden “has broadened my idea of what the green industry has to offer.”

Bell’s internship was made possible by current-use donations from 1872 Society members Susie and Mike Hildebrand. “The industry is leading us to a place where we need people who are trained and educated in our field,” says Mike Hildebrand, a 1974 alumnus in horticulture, who is president and owner of James River Nurseries in Ashland, Virginia. He says funding an internship is a way to give back to both his university and his industry.

Not one, but three of the student-support funds that have broadened Ally Moser’s horizons were created through legacy gifts. They include the Burd S. McGinnes Fellowship and Robert A. Belz Endowed Scholarship, which helped Moser earlier in her time at Virginia Tech, and the Henry S. Mosby Memorial Scholarship, which made it possible for her to travel to four conferences during the 2015-16 academic year.

“Scholarships have given me the flexibility to pursue opportunities outside the classroom that I wouldn’t normally be able to do, and that really enforces my learning by making it more applied,” says Moser, who is majoring in wildlife conservation and wants to help find solutions to conflicts related to endangered-species policies. “This has helped me narrow down what I care most about and realize what I want to focus my energy on as a professional.”

Experiential learning Student enrichment

Tim Bell with Susie and Mike Hildebrand Ally Moser


Endowed professorships help Virginia Tech to attract, retain, and empower some of the nation’s leading academics—people like Stefan Duma, the Harry C. Wyatt Professor and head of the Department of Biomedical Engineering and Mechanics. Duma’s pioneering research into head impacts in sports, and the effectiveness or inadequacy of helmets, was extended significantly in fiscal year 2015-16.

Funded by the National Institutes of Health’s National Institute of Neurological Disorders and Stroke, Duma is leading a $3.3 million, multi-center, five-year study that will track head-impact

exposure in children. It’s the largest and most comprehensive biomedical study of youth football players to date.

“Collecting this data during the next five years will allow for evidence-based decisions across a range of applications, including improved clinical detection techniques as well as a solid foundation for our helmet rating programs, and [will] offer ways potentially to improve youth football helmet design,” Duma has said. “We will work with Pop Warner and other national governing bodies to develop improved practice strategies.”

Focus on faculty

Stefan Duma, the Harry C. Wyatt Professor and head of the Department of Biomedical Engineering and Mechanics


A highlight of Sophie Hatcher’s Virginia Tech experience was an inspiring trip to study in Europe and tour the facilities of worldwide brands such as Barilla pasta, BMW, and Lamborghini.

“It was extremely eye-opening,” says the sophomore, who is majoring in mechanical engineering. “All the companies we toured were very different, so I got a much better sense of the many different types of opportunities I may have after I complete my degree.”

Hatcher’s journey was made possible by a scholarship established by William ’60 and Cornelia Scruggs. After William Scruggs died in 2015, Cornelia Scruggs continued their tradition of supporting several scholarships.

“I’ve heard from people that every little bit helps, and I’ll just keep giving until I can’t,” says Cornelia Scruggs, who in April advanced into the Ut Prosim Society’s President’s Circle.

Hatcher says she is “so grateful to Mrs. Scruggs for supporting my education and that of others. I hope she understands how much it means to me, and how it’s such a good motivation.”

Throughout Virginia Tech, such feelings of deep gratitude are echoed by the students, faculty, and staff whose opportunities to learn, or to make a professional impact on the world, are greatly enhanced by donations that empower and inspire their work.

Global opportunities

Sophie Hatcher


For more words of thanks from our students, visit givingto.vt.edu/thankadonorvideo to watch on Facebook a video filmed during one of our thank-a-donor days in April.

Thank you Thank you for supporting Virginia Tech. With your help, we are living our motto and serving the world in targeted and tangible ways.

Visit givingto.vt.edu/donors for an honor roll of members of our Ut Prosim, 1872, and Legacy societies of donors.

The Virginia Tech Foundation and Philanthropy Annual Reportfor fiscal year 2015-16

Virginia Tech Foundation Inc.University Gateway Center (0142)902 Prices Fork RoadBlacksburg, VA 24061

Advancement DivisionVirginia TechUniversity Gateway Center (0336)902 Prices Fork RoadBlacksburg, VA 24061

vtf.vt.edu givingto.vt.edu

Virginia Tech Foundation Inc.

University Gateway Center (0142)902 Prices Fork RoadBlacksburg, VA 24061

Address service requested

NON-PROFITORGANIZATIONU.S. POSTAGE

PAIDROANOKE, VA 24060

PERMIT NO. 15

living our motto serving the world the virginia tech … · · 2016-11-02michael m. moyer...

Documents