Eastern Virginia Medical School Foundation

EIN: 237053028 501(c)(3) Education

NORFOLK, VA

Total Revenue
$14,673,075
Total Expenses
$11,673,261
Total Assets
$184,852,997
Net Assets
$184,189,380
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
VA
Phone
7574466051
Tax Period
2023-07-01 to 2024-06-30

Eastern Virginia Medical School Foundation, founded in 1969, is a mid-sized nonprofit in the Education sector that reported $14.7M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.0M, a strong 20% operating margin.

Mission

The Eastern Virginia Medical School Foundation serves to strengthen the financial security of the Eastern Virginia Medical School by accepting, investing and managing gifts, donations and bequests.

Program Service Accomplishments

Program 1
Expenses: $5,461,478 Revenue: $143,627

RESTRICTED GRANTS GIVEN TO THE EASTERN VIRGINIA MEDICAL SCHOOL FOR MEDICAL RESEARCH AND EDUCATIONAL PROGRAMS.

Program 2
Expenses: $1,987,334

APPROPRIATIONS FOR PROGRAM AND PROFESSORSHIP ENHANCEMENTS OF THE EASTERN VIRGINIA MEDICAL SCHOOL APPROVED BY THE BOARD OF THE FOUNDATION.

Program 3
Expenses: $1,400,696

APPROPRIATIONS FOR MAINTENANCE AND OPERATIONS OF THE EASTERN VIRGINIA SCHOOL FOR MEDICAL RESEARCH AND EDUCATIONAL PROGRAMS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,363,916
Program Service Revenue $0
Investment Income $10,165,532
Other Revenue $143,627
TOTAL REVENUE $14,673,075

Expense Breakdown

Grants Paid $10,043,531
Salaries & Benefits $226,752
Fundraising Expenses $279,725
Program Expenses $10,043,531
Other Expenses $1,356,928
TOTAL EXPENSES $11,673,261

Year-over-Year Comparison

2023 2022 Change
Revenue $14,673,075 $11,906,674 +0.2%
Expenses $11,673,261 $10,452,792 +0.1%
Net Income $2,999,814 $1,453,882 +1.1%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
19

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
3
$0
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A TREASURER 1.0
Officer Director
$0 $0 $0
N/A CHAIR 1.0
Officer Director
$0 $0 $0
N/A SECRETARY 1.0
Officer Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
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 No data No data No data No data
2024 $14,673,075 $11,673,261 $184,852,997 $2,999,814
2023 $11,906,674 $10,452,792 $175,187,870 $1,453,882
2022 $19,028,464 $10,639,833 $165,919,612 $8,388,631
2021 $27,740,362 $9,536,824 $179,483,050 $18,203,538
2020 $12,211,760 $7,881,987 $130,927,312 $4,329,773
2019 $30,567,400 $9,194,968 $128,471,833 $21,372,432
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