OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION

EIN: 546052014 501(c)(3) Education

NORFOLK, VA

Total Revenue
$33,777,034
Total Expenses
$18,002,808
Total Assets
$374,805,050
Net Assets
$299,693,817
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Financial Trends

Organization Details

Formation Year
1955
Legal Domicile
VA
Principal Officer
ALONZO BRANDON
Phone
7576834524
Tax Period
2023-01-01 to 2023-12-31

Old Dominion University Educational Foundation, founded in 1955, is a mid-sized nonprofit in the Education sector that reported $28.9M in total revenue in fiscal year 2018. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $14.8M, a strong 51% operating margin.

Mission

OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION WAS ESTABLISHED TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF ODU.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $26,365,746
Program Service Revenue $0
Investment Income $6,617,612
Other Revenue $793,676
TOTAL REVENUE $33,777,034

Expense Breakdown

Grants Paid $14,427,898
Salaries & Benefits $0
Fundraising Expenses $713,111
Program Expenses $14,570,860
Other Expenses $3,574,910
TOTAL EXPENSES $18,002,808

Year-over-Year Comparison

2023 2022 Change
Revenue $33,777,034 $28,545,693 +0.2%
Expenses $18,002,808 $19,356,496 -0.1%
Net Income $15,774,226 $9,189,197 +0.7%
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
30
Independent Members
30
Employees
1
Volunteers
34

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
7
$0
Total Directors
32
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PRESCOTT SHERROD CHAIRMAN 1.0
Officer Director
$0 $0 $0
BRUCE T BISHOP VICE CHAIR 0.5
Officer Director
$0 $0 $0
CAROLINE MCCARTNEY SECRETARY 0.2
Officer Director
$0 $0 $0
GARRET A ALCARAZ TREASURER 0.5
Officer Director
$0 $0 $0
JACQUELINE B AMATO TRUSTEE 0.1
Director
$0 $0 $0
BETSY ATKINSON TRUSTEE 0.1
Director
$0 $0 $0
JAMES W BEAMER TRUSTEE 0.1
Director
$0 $0 $0
JOE E CARTER TRUSTEE 0.1
Director
$0 $0 $0
KIM CURTIS TRUSTEE 0.1
Director
$0 $0 $0
JANET A ELLIS TRUSTEE 0.1
Director
$0 $0 $0
GARY A GILMORE TRUSTEE 0.1
Director
$0 $0 $0
WEYMAN GONG TRUSTEE 0.1
Director
$0 $0 $0
ALTON J HARRIS TRUSTEE 0.1
Director
$0 $0 $0
RICHARD T HARRIS TRUSTEE 0.1
Director
$0 $0 $0
LUKE HILLIER TRUSTEE 0.1
Director
$0 $0 $0
JAMES J IZARD II TRUSTEE 0.1
Director
$0 $0 $0
ROBERT M KING JR TRUSTEE 0.1
Director
$0 $0 $0
MARY MANISCALCO-THEBERGE TRUSTEE 0.1
Director
$0 $0 $0
WILLIAM MONROE TRUSTEE 0.1
Director
$0 $0 $0
JOHNATHAN REED TRUSTEE 0.1
Director
$0 $0 $0
LISA B SMITH TRUSTEE 0.1
Director
$0 $0 $0
KEVIN STEVENSON TRUSTEE 0.1
Director
$0 $0 $0
L SCOTT TRAINUM TRUSTEE 0.1
Director
$0 $0 $0
BRAD WAITZER TRUSTEE 0.1
Director
$0 $0 $0
MARK WARDEN TRUSTEE 0.1
Director
$0 $0 $0
THOMAS T WINBORNE TRUSTEE 0.1
Director
$0 $0 $0
RICK WYATT TRUSTEE 0.1
Director
$0 $0 $0
ROB KREBS TRUSTEE 0.1
Director
$0 $0 $0
KENNETH RODMAN TRUSTEE 0.1
Director
$0 $0 $0
BRIAN O HEMPHILL EX-OFFICIO 0.1
Director
$0 $0 $0
ANDRE WELLS EX-OFFICIO (THRU 06/23) 0.1
Director
$0 $0 $0
JANET CARTER EX-OFFICIO (FROM 06/23) 0.1
Director
$0 $0 $0
CINDY GALL ASST. SECRETARY 13.0
Officer
$0 $0 $0
MICHAEL LAROCK ASST. TREASURER 13.0
Officer
$0 $0 $0
ALONZO BRANDON EX-OFFICIO/EXECUTIVE DIRECTOR 10.0
Officer
$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
2024 No data No data No data No data
2023 $33,777,034 $18,002,808 $374,805,050 $15,774,226
2022 $28,545,693 $19,356,496 $344,230,798 $9,189,197
2021 $33,517,872 $15,595,612 $390,141,589 $17,922,260
2020 $40,894,219 $14,096,105 $328,205,327 $26,798,114
2019 $29,020,337 $14,117,943 $300,966,250 $14,902,394
2018 $28,890,694 $14,087,990 $259,606,088 $14,802,704
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