THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION INC

EIN: 237004354 501(c)(3)

RICHMOND, VA

Total Revenue
$10,190,884
Total Expenses
$8,071,245
Total Assets
$17,083,226
Net Assets
$16,423,611
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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
VA
Principal Officer
DR KENNETH C ALEXANDER
Phone
8048194962
Tax Period
2024-07-01 to 2025-06-30

THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION INC, founded in 1969, is a mid-sized nonprofit that reported $10.2M in total revenue in fiscal year 2024. Revenue surged 94% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 21% operating margin.

Mission

THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION (VFCCE) MISSION IS BUILDING STUDENT SUCCESS AND THE COMMONWEALTH'S FUTURE BY SUPPORTING VIRGINIA'S COMMUNITY COLLEGES. VFCCE PROVIDES STATEWIDE LEADERSHIP IN RAISING FUNDS FOR COMMUNITY COLLEGE STUDENTS, SUPPLEMENTING THE ACTIVITIES OF THE 23 COLLEGES AND SECURING SUPPORT FOR SYSTEM-WIDE INITIATIVES THAT COULD NOT BE UNDERTAKEN BY ANY SINGLE COLLEGE.

Program Service Accomplishments

Program 1
Expenses: $3,139,387

SCHOLARSHIPS SINCE 2006, THE FOUNDATION HAS SUPPORTED HUNDREDS OF STUDENTS ACROSS VIRGINIA'S 23 COMMUNITY COLLEGES THROUGH ITS SCHOLARSHIPS AND FELLOWSHIPS PROGRAM. THANKS TO OUR GENEROUS PARTNERS...

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SCHOLARSHIPS SINCE 2006, THE FOUNDATION HAS SUPPORTED HUNDREDS OF STUDENTS ACROSS VIRGINIA'S 23 COMMUNITY COLLEGES THROUGH ITS SCHOLARSHIPS AND FELLOWSHIPS PROGRAM. THANKS TO OUR GENEROUS PARTNERS, THE VFCCE HAS AWARDED MORE THAN $7 MILLION IN SCHOLARSHIPS, HELPING STUDENTS SUCCEED AND REACH THEIR EDUCATIONAL GOALS. FOR THE 2024 -25 ACADEMIC YEAR, 110 SCHOLARSHIPS WERE AWARDED, TOTALING $511,250. THE PRESTIGIOUS FELLOWS PROGRAM AWARDS HIGH-ACHIEVING SECOND-YEAR STUDENTS WITH FULL SCHOLARSHIP SUPPORT TO COMPLETE ASSOCIATE DEGREES AND DEVELOP LEADERSHIP SKILLS THROUGH A COHORT MODEL. SINCE ITS LAUNCH IN 2011, THE FELLOWS PROGRAM HAS SUPPORTED 348 STUDENTS THROUGH FINANCIAL ASSISTANCE, MENTORING, AND LEADERSHIP TRAINING.COLLEGE ATTAINMENT FOR PARENT STUDENTS (CAPS)THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION (VFCCE) LAUNCHED A CRITICAL INITIATIVE IN 2023 TO SUPPORT SINGLE PARENTS FROM LOW-INCOME BACKGROUNDS AS THEY PURSUE COLLEGE. THE COLLEGE ATTAINMENT FOR PARENT STUDENTS (CAPS) PROGRAM ADVANCES A TWO-GENERATION, ANTI-POVERTY SOLUTION THAT INCREASES EMPLOYMENT AND INCOME OPPORTUNITIES BY PROVIDING COMPREHENSIVE COACHING SERVICES AND TARGETED FINANCIAL ASSISTANCE. THE PILOT PROGRAM SERVED 100 PARENT STUDENTS ACROSS FIVE COLLEGES PROVIDING DIRECT STUDENT SUPPORT THROUGH A COHORT MODEL AND HELPED TO IDENTIFY STRUCTURAL CHALLENGES THAT ARE HINDERING PARENT-STUDENT SUCCESS. CAPS WILL BE RELAUNCHED IN FALL 2025 TO ENGAGE MORE COLLEGES AND SUPPORT MORE PARENT STUDENTS STATEWIDE.SINCE MAY 2025, THE CAPS PROGRAM HAS SUCCESSFULLY TRANSITIONED FROM ITS PILOT PHASE INTO A ROBUST STATEWIDE EXPANSION ACROSS THE VIRGINIA COMMUNITY COLLEGE SYSTEM. THE VISION FOR THIS EXPANSION IS TO GROW FROM AN INITIAL FIVE-COLLEGE PILOT SERVING 189 STUDENTS TO SUPPORTING UP TO 1,500 STUDENTS OVER THE NEXT THREE YEARS, WHILE CONTINUING TO DRIVE INCREASED GRADUATION AND RETENTION RATES. BY DEVELOPING AN INTEGRAL PROGRAM TOOL KIT AND GATHERING CRITICAL STUDENT DEMOGRAPHIC DATA, THE PROGRAM ESTABLISHED A DATA-DRIVEN INFRASTRUCTURE TO SUPPORT ONBOARDING COLLEGES. THIS EXPANSION WAS FURTHER STRENGTHENED BY OBTAINING ADDITIONAL FUNDING, ESTABLISHING A TIERED ALLOCATION MODEL BASED ON ENROLLMENT SIZE, AND CREATING STANDARDIZED GUIDELINES TO ENSURE EQUITABLE DISTRIBUTION. TO MAINTAIN HIGH-QUALITY IMPLEMENTATION, THE PROGRAM ALLOCATED RESOURCES TO THE ORIGINAL PILOT COLLEGES TO PROVIDE MENTORING AND LEADERSHIP THROUGH A NEWLY ESTABLISHED COMMUNITY OF PRACTICE FOR COACHES. CURRENTLY OPERATIONAL IN 21 OUT OF 23 COMMUNITY COLLEGES, CAPS HAS SEEN AN INCREASE OF ABOUT 700 ENROLLED PARENT STUDENTS. THE INITIATIVE CONTINUES TO ALIGN WITH STATEWIDE GOALS BY HOSTING COLLABORATIVE MEETINGS AND IMPACT SESSIONS. THESE SESSIONS FEATURE FORMER RECIPIENTS WHO SHARE THEIR EXPERIENCES, HIGHLIGHTING HOW COACHING AND FINANCIAL SUPPORT HAVE POSITIVELY TRANSFORMED THE ACADEMIC CAREERS OF STUDENT PARENTS.

Program 2
Expenses: $976,326

THE GREAT EXPECTATIONS (GE) PROGRAM HELPS YOUNG PEOPLE WHO HAVE NAVIGATED THE FOSTER CARE SYSTEM COMPLETE HIGH SCHOOL, GAIN ACCESS AND SUCCEED IN COLLEGE, AND TRANSITION SUCCESSFULLY TO LIVING...

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THE GREAT EXPECTATIONS (GE) PROGRAM HELPS YOUNG PEOPLE WHO HAVE NAVIGATED THE FOSTER CARE SYSTEM COMPLETE HIGH SCHOOL, GAIN ACCESS AND SUCCEED IN COLLEGE, AND TRANSITION SUCCESSFULLY TO LIVING INDEPENDENTLY. SINCE THE PROGRAM BEGAN 17 YEARS AGO, ALMOST 5000 STUDENTS HAVE PARTICIPATED WITH 22% EARNING A CREDENTIAL, ALMOST 3 TIMES THE NATIONAL AVERAGE FOR STUDENTS WITH EXPERIENCE IN FOSTER CARE.THE FALL 2024 TO FALL 2025 PERSISTENCE RATE FOR GE STUDENTS WAS 68%, WITH STUDENTS EARNING 47 ASSOCIATE DEGREES, 19 TRANSFERS TO 4-YEAR COLLEGES AND UNIVERSITIES, AND 9 FAST FORWARD WORKFORCE CREDENTIALS.

Program 3
Expenses: $689,344

THE GERALD L. BALILES RURAL VIRGINIA HORSESHOE INITIATIVE AWARD (RVHI), ESTABLISHED IN 2014, CONTINUES THE MISSION TO RAISE EDUCATIONAL ATTAINMENT LEVELS FOR STUDENTS IN RURAL VIRGINIA. RVHI PROVIDES...

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THE GERALD L. BALILES RURAL VIRGINIA HORSESHOE INITIATIVE AWARD (RVHI), ESTABLISHED IN 2014, CONTINUES THE MISSION TO RAISE EDUCATIONAL ATTAINMENT LEVELS FOR STUDENTS IN RURAL VIRGINIA. RVHI PROVIDES CAREER COACHES IN RURAL HIGH SCHOOLS TO ENCOURAGE HIGH SCHOOL AND COLLEGE COMPLETION AND OFFERS FINANCIAL INCENTIVES AND TO ASSIST ADULT LEARNERS RETURN TO HIGHER EDUCATION AND TRAINING.FOURTEEN RURAL COMMUNITY COLLEGES PARTICIPATE IN THE PROGRAM. THE PROGRAM HAS TWO 10-YEAR GOALS. ONE IS TO REDUCE THE NUMBER OF RESIDENTS OF THE RURAL HORSESHOE REGION THAT HAVE NOT EARNED A HIGH SCHOOL DIPLOMA BY HALF, FROM 20% TO 10%. SINCE 2012, THAT METRIC HAS LOWERED TO 11.4%. THE OTHER IS TO DOUBLE THE POPULATION IN THE RURAL HORSESHOE WITH AN ASSOCIATE DEGREE OR CAREER CERTIFICATION. IN 2012, THAT PERCENTAGE WAS 26%. AS OF THIS REPORT, THAT METRIC IS UP TO 54.3%.SINCE THE PROGRAM'S INCEPTION, 110,365 STUDENTS WERE SERVED BY 28 HIGH SCHOOL CAREER COACHES, EITHER ON A ONE-TO-ONE BASIS, OR IN SMALL GROUPS. THANKS TO ENGAGED DONORS, THE VFCCE PROVIDES MATCH FUNDING THAT IS LEVERAGED BY LOCAL COLLEGE FOUNDATIONS TO SUPPORT THE PROGRAM.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,036,684
Program Service Revenue $0
Investment Income $2,154,200
Other Revenue $0
TOTAL REVENUE $10,190,884

Expense Breakdown

Grants Paid $6,163,892
Salaries & Benefits $914,717
Fundraising Expenses $454,536
Program Expenses $7,028,889
Other Expenses $992,636
TOTAL EXPENSES $8,071,245

Year-over-Year Comparison

2024 2023 Change
Revenue $10,190,884 $5,247,332 +0.9%
Expenses $8,071,245 $5,733,792 +0.4%
Net Income $2,119,639 $-486,460 -5.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
22
Independent Members
21
Employees
N/A
Volunteers
23

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GAYE MONTGOMERY DIRECTOR 1.00
Director
$0 $0 $0
ANNA JAMES DIRECTOR 1.00
Director
$0 $0 $0
CAROLINE PETTERS SAUER DIRECTOR 1.00
Director
$0 $0 $0
CEDRIC GREEN SECRETARY 1.50
Officer Director
$0 $0 $0
CHRIS FRENCH DIRECTOR 1.00
Director
$0 $0 $0
DAVID DORE DIRECTOR 1.00
Director
$0 $0 $0
DARREN CONNER CHAIR 1.50
Officer Director
$0 $0 $0
FRED THOMPSON DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM HAZEL JR VICE CHAIR AND TREASURER 1.50
Officer Director
$0 $0 $0
ED DALRYMPLE DIRECTOR 1.00
Director
$0 $0 $0
SALLY CALDWELL DIRECTOR 1.00
Director
$0 $0 $0
AMY HENECKE DIRECTOR 1.00
Director
$0 $0 $0
JENNIE REYNOLDS DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER SAGER GENTRY DIRECTOR; EXECUTIVE DIRECT 35.00
Officer Director
$0 $0 $0
JOHN J RAINONE DIRECTOR 1.00
Director
$0 $0 $0
JULIA GILLIAM STERLING DIRECTOR 1.00
Director
$0 $0 $0
JUSTIN BALLARD DIRECTOR 1.00
Director
$0 $0 $0
LEAH FRIED SEDWICK DIRECTOR 1.00
Director
$0 $0 $0
MARY MORRIS DIRECTOR 1.00
Director
$0 $0 $0
MAURICE JONES DIRECTOR 1.00
Director
$0 $0 $0
PHILIP H GOODPASTURE GENERAL COUNSE DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL O'KANE DIRECTOR 1.00
Director
$0 $0 $0
XAVIER BEALE DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $10,190,884 $8,071,245 $17,083,226 $2,119,639
2024 $5,247,332 $5,733,792 $17,135,891 $-486,460
2023 $5,006,881 $4,811,518 $15,491,078 $195,363
2022 $5,888,244 $3,788,599 $14,266,260 $2,099,645
2021 $3,150,403 $3,960,877 $14,301,473 $-810,474
2020 $3,326,675 $4,514,848 $14,207,630 $-1,188,173
2019 $4,487,197 $3,330,669 $15,434,511 $1,156,528
2018 $5,853,534 $3,745,456 $14,933,736 $2,108,078
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