VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION

EIN: 541666531 501(c)(3) Education

RICHMOND, VA

Total Revenue
$10,248,910
Total Expenses
$7,516,351
Total Assets
$98,443,315
Net Assets
$51,490,780
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
VA
Principal Officer
GEORGE EMERSON
Phone
8048289292
Tax Period
2022-07-01 to 2023-06-30

VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION, founded in 1992, is a community nonprofit in the Education sector that reported $9.0M in total revenue in fiscal year 2017. The organization ran a surplus of $2.4M, a strong 26% operating margin.

Mission

THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY.

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $10,108,901
Investment Income $106,682
Other Revenue $33,327
TOTAL REVENUE $10,248,910

Expense Breakdown

Grants Paid $51,876
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $7,307,344
Other Expenses $7,464,475
TOTAL EXPENSES $7,516,351

Year-over-Year Comparison

2022 2021 Change
Revenue $10,248,910 $9,483,023 +0.1%
Expenses $7,516,351 $6,417,427 +0.2%
Net Income $2,732,559 $3,065,596 -0.1%
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
10
Independent Members
9
Employees
N/A
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
4
$0
Total Directors
10
$1,159,696
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DEBORAH K FOURNESS PRESIDENT 1.00
Officer Director
$0 $0 $0
BRIAN K JACKSON VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
BURT PINNOCK TREASURER 1.00
Officer Director
$0 $0 $0
RICHARD E BYRNE DIRECTOR 1.00
Director
$0 $0 $0
ROBERT L HANSAN SECRETARY 1.00
Officer Director
$0 $0 $0
JOHN C JACOBY DIRECTOR 1.00
Director
$0 $0 $0
THOMAS W PAPA DIRECTOR 1.00
Director
$0 $0 $0
SHANTARAM K TALEGAONKAR DIRECTOR 1.00
Director
$0 $0 $0
DR MICHAEL RAO EX-OFFICIO DIRECTOR 1.00
Director
$0 $372,660 $1,159,696
GEORGE EMERSON 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 No data No data No data No data
2024 No data No data No data No data
2023 $10,248,910 $7,516,351 $98,443,315 $2,732,559
2022 $9,483,023 $6,417,427 $99,593,802 $3,065,596
2021 $7,982,693 $5,887,651 $95,872,198 $2,095,042
2020 $8,941,579 $6,294,076 $91,759,283 $2,647,503
2019 $9,162,429 $6,732,860 $93,115,473 $2,429,569
2018 $9,026,883 $6,642,221 $93,529,271 $2,384,662
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