VMI FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

CRISSY S ELLIOTT

Phone

5404647383

Tax Period

2023-07-01 to 2024-06-30

VMI FOUNDATION, founded in 1937, is a mid-sized nonprofit in the Education sector that reported $26.3M in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Net assets of $617.8M represent 282 months of operating reserves.

Mission

FOR THE ADVANCEMENT, PROMOTION, ENCOURAGEMENT, WELFARE AND PROGRESS OF VIRGINIA MILITARY INSTITUTE (VMI), A STATE-SUPPORTED COLLEGE, AND ADVANCEMENT, WELFARE AND PROGRESS OF THE VMI ALUMNI ASSOCIATION, WHO ALSO SUPPORTS VMI IN CONJUNCTION WITH ALUMNI RELATIONS TO FURTHER SUPPORT.

Program Service Accomplishments

Program 1

Expenses: $22,440,757 Revenue: $0

FUNDS RAISED BY THE FOUNDATION ARE USED FOR PROVIDING SCHOLARSHIPS AND OTHER ACADEMIC AND ATHLETIC PROGRAM SUPPORT TO THE VIRGINIA MILITARY INSTITUTE AND ITS RELATED ALUMNI ASSOCIATIONS.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,053,980

Program Service Revenue $0

Investment Income $13,628,001

Other Revenue $586,535

TOTAL REVENUE $26,268,516

Expense Breakdown

Grants Paid $22,046,593

Salaries & Benefits $1,701,719

Fundraising Expenses $1,373,487

Program Expenses $22,440,757

Other Expenses $2,225,133

TOTAL EXPENSES $25,973,445

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,268,516	$36,993,722	-0.3%
Expenses	$25,973,445	$27,100,301	0.0%
Net Income	$295,071	$9,893,421	-1.0%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$984,469

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERNESTO V SAMPSON JR	PRESIDENT	2.00	Director	$0	$0	$0
MR DARYL L DEKE	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JOHN F FICK III	BOARD MEMBER	2.00	Director	$0	$0	$0
MR STEPHEN M GODDARD	BOARD MEMBER	2.00	Director	$0	$0	$0
MR ROBERT B GORE	BOARD MEMBER	2.00	Director	$0	$0	$0
DR CHRISTOPHER R GORMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
MR GARLAND GRAY II	BOARD MEMBER	2.00	Director	$0	$0	$0
COM BREE A GUITERMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
MR GLEN N JONES	BOARD MEMBER	2.00	Director	$0	$0	$0
MR KIMBER L LATSHA JD	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JOHNATHAN A MAYO	BOARD MEMBER	2.00	Director	$0	$0	$0
COL JOSEPH P MOAN	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JONATHAN T MOODY	BOARD MEMBER	2.00	Director	$0	$0	$0
MR GALE F SOMMERS	BOARD MEMBER	2.00	Director	$0	$0	$0
LT GEN CARL A STROCK	BOARD MEMBER	2.00	Director	$0	$0	$0
MR STERLING T SWEENEY	BOARD MEMBER	2.00	Director	$0	$0	$0
MR WILLIAM L TALIAFERRO JR	BOARD MEMBER	2.00	Director	$0	$0	$0
LT COL CHARLES L TOOMEY	BOARD MEMBER	2.00	Director	$0	$0	$0
MS DORCAS G WILKINSON	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JOHN P WILLIAMS	BOARD MEMBER	2.00	Director	$0	$0	$0
MRS ELISE G WOODWORTH	BOARD MEMBER	2.00	Director	$0	$0	$0
MR THOMAS HENRY ZARGES	BOARD MEMBER	2.00	Officer Director	$0	$0	$0
MR DANIEL P THORNTON	BOARD MEMBER	2.00	Director	$0	$0	$0
MR ANTHONY U MOORE	B2	2.00	Director	$0	$0	$0
MR KURT A POLK	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID L PRASNICKI	CHIEF EXECUTIVE OFFICER	2.00	Officer	$0	$15,400	$293,412
CRISSY S ELLIOTT	CHIEF FINANCIAL OFFICER	2.00	Officer	$0	$34,045	$212,684
MEADE B KING	CHIEF OPERATING OFFICER	40.00	Officer	$145,269	$13,210	$158,479
AMY S REID	CORPORATE SECRETARY	40.00	Officer	$52,047	$13,224	$65,271
THERESA I CONRAD	VICE PRESIDENT DEVELOPMENT	40.00	Officer	$157,387	$506	$157,893
KEVIN A RYAN	FINANCIAL CONTROLLER	2.00	Officer	$0	$6,313	$96,730
GREGORY M CAVALLARO	SENIOR MAJOR GIFT OFFICER	40.00	Highest	$151,765	$30,287	$182,052

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	$26,268,516	$25,973,445	$642,086,851	$295,071
2023	$36,993,722	$27,100,301	$584,168,697	$9,893,421
2022	$24,254,314	$26,063,917	$539,387,112	$-1,809,603
2021	$26,799,966	$22,967,138	$567,221,875	$3,832,828
2020	$28,563,258	$21,395,409	$421,257,842	$7,167,849
2019	$21,413,954	$19,249,379	$416,531,805	$2,164,575