MEDICAL COLLEGE OF VA FOUNDATION

EIN: 546053660 501(c)(3) Education

Richmond, VA

Total Revenue
$84,215,955
Total Expenses
$84,259,876
Total Assets
$1,059,529,799
Net Assets
$1,048,613,963
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1949
Legal Domicile
VA
Phone
8048289734
Tax Period
2024-07-01 to 2025-06-30

MEDICAL COLLEGE OF VA FOUNDATION, founded in 1949, is a mid-sized nonprofit in the Education sector that reported $84.2M in total revenue in fiscal year 2024. Revenue surged 58% from the prior year, signaling strong growth momentum. Net assets of $1.0B represent 149 months of operating reserves.

Mission

TO SUPPORT AND FOSTER VCU HEALTH AND VCU HEALTH SCIENCES THROUGH PHILANTHROPY, STEWARDSHIP, INNOVATION, COMMUNICATION, AND COLLABORATION.

Program Service Accomplishments

Program 1
Expenses: $44,062,523 Revenue: $2,677,474

EDUCATION, RESEARCH, AND GENERAL EXPENSES FOR VCU HEALTH (VCU health includes the six health sciences schools, The Massey Comprehensive Cancer Center, VCU Health Hospital & Community Clinics).

Program 2
Expenses: $19,650,673 Revenue: $0

TO AID, STRENGTHEN, AND EXTEND WORK OF VCU HEALTH (FACULTY SALARIES PAID TO VCU).

Program 3
Expenses: $9,753,580 Revenue: $0

SCHOLARSHIPS AND AWARDS

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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 (2024)

Revenue Breakdown

Contributions & Grants $65,704,897
Program Service Revenue $2,677,474
Investment Income $15,716,516
Other Revenue $117,068
TOTAL REVENUE $84,215,955

Expense Breakdown

Grants Paid $73,538,488
Salaries & Benefits $4,876,015
Fundraising Expenses $1,319,142
Program Expenses $73,538,488
Other Expenses $5,845,373
TOTAL EXPENSES $84,259,876

Year-over-Year Comparison

2024 2023 Change
Revenue $84,215,955 $53,247,393 +0.6%
Expenses $84,259,876 $68,622,811 +0.2%
Net Income $-43,921 $-15,375,418 -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

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Governance

Voting Members
37
Independent Members
37
Employees
29
Volunteers
37

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
$1,258,009
Total Directors
40
$0
Key Employees
3
$617,070
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARIUS A JOHNSON CHAIR 1.0
Officer Director
$0 $0 $0
ELIZABETH ANNE WHALLEY ESQ SECRETARY 1.0
Officer Director
$0 $0 $0
ERNESTO V SAMPSON TREASURER 1.0
Officer Director
$0 $0 $0
Stephen J Gaidos Chair-Elect 1.0
Officer Director
$0 $0 $0
ALEX CECIL TRUSTEE 1.0
Director
$0 $0 $0
D OSCARLYN ELDER TRUSTEE 1.0
Director
$0 $0 $0
DANNY AVULA MD TRUSTEE 1.0
Director
$0 $0 $0
DOROTHY KEE TILGHMAN RABB TRUSTEE 1.0
Director
$0 $0 $0
ELIZABETH HOPKINS TRUSTEE 1.0
Director
$0 $0 $0
ELLEN E SPONG TRUSTEE 1.0
Director
$0 $0 $0
GHULAM D QURESHI MD TRUSTEE 1.0
Director
$0 $0 $0
H FREDERICK T MOORE TRUSTEE 1.0
Director
$0 $0 $0
I LEE CHAPMAN IV TRUSTEE 1.0
Director
$0 $0 $0
J KEITH MIDDLETON TRUSTEE (THRU 06.25) 1.0
Director
$0 $0 $0
JENNIFER F FLINCHUM TRUSTEE 1.0
Director
$0 $0 $0
JENNIFER J WOLD TRUSTEE (as of 07.24) 1.0
Director
$0 $0 $0
JUDITH FOREHAND STARKEY TRUSTEE 1.0
Director
$0 $0 $0
KATHRYN ELIZABETH JARVIS SCOTT TRUSTEE 1.0
Director
$0 $0 $0
LOUIS FORMICA DDS TRUSTEE 1.0
Director
$0 $0 $0
LOUISE WOLTZ SMITH TRUSTEE 1.0
Director
$0 $0 $0
MARLON F LEVY MD TRUSTEE-EX-OFFICIO 1.0
Director
$0 $0 $0
MICHAEL BISCEGLIA TRUSTEE 1.0
Director
$0 $0 $0
MICHAEL RAO PHD TRUSTEE-EX-OFFICIO 1.0
Director
$0 $0 $0
MICHELE A ROMANO MD TRUSTEE 1.0
Director
$0 $0 $0
MOSES FOSTER JR TRUSTEE 1.0
Director
$0 $0 $0
NUPA AGARWAL ESQ TRUSTEE 1.0
Director
$0 $0 $0
PAUL W CROSTON TRUSTEE 1.0
Director
$0 $0 $0
PETER FARRELL TRUSTEE 1.0
Director
$0 $0 $0
RACHEL YOST TRUSTEE 1.0
Director
$0 $0 $0
ROBERT C CANFIELD TRUSTEE 1.0
Director
$0 $0 $0
ROBERT L FINDLING TRUSTEE 1.0
Director
$0 $0 $0
SHEILA A CORCORAN TRUSTEE 1.0
Director
$0 $0 $0
SHERYL L GARLAND TRUSTEE 1.0
Director
$0 $0 $0
Stephan DAVIS DNP MHSA FACH TRUSTEE (THRU 07.24) 1.0
Director
$0 $0 $0
STEPHEN MCCARTHY GODDARD TRUSTEE 1.0
Director
$0 $0 $0
SUSAN G KORNSTEIN MD TRUSTEE 1.0
Director
$0 $0 $0
T SPENCER WILLIAMSON TRUSTEE (THRU 07.24) 1.0
Director
$0 $0 $0
TRACY KEMP STALLINGS TRUSTEE 1.0
Director
$0 $0 $0
W TAYLOR REVELEY III JD TRUSTEE 1.0
Director
$0 $0 $0
WYATT S BEAZLEY IV JD TRUSTEE 1.0
Director
$0 $0 $0
BRIAN THOMAS EVP AND CHIEF DEVELOPMENT OFFICER 40.0
Officer
$336,318 $41,932 $378,250
DAVID SILVER VP FOR FINANCE & ADMINISTRATION AND CFO 40.0
Officer
$322,752 $41,575 $364,327
MARGARET ANN BOLLMEIER PRESIDENT AND CEO 40.0
Officer
$461,029 $54,403 $515,432
ERIC PETERS VP FOR COMMUNICATIONS 40.0
Key Emp
$192,932 $27,593 $220,525
JULIE SEARS DIRECTOR OF FINANCIAL MGMT AND CONTROLLER 40.0
Key Emp
$194,459 $27,746 $222,205
SARA CURRY DIRECTOR OF HUMAN RESOURCES 40.0
Key Emp
$158,491 $15,849 $174,340
CHRISTOPHER AYERS ASSOC DIRECTOR OF FINANCIAL SYSTEMS & REPORTING 40.0
Highest
$130,489 $17,199 $147,688
CRYSTAL PURYEAR SR EXECUTIVE ASSISTANT TO CEO AND PRESIDENT 40.0
Highest
$108,504 $19,150 $127,654
GINA PADRONE ASSOC DIRECTOR OF TREASURY & INVESTMENT ACCTG 40.0
Highest
$130,015 $17,152 $147,167
PAUL BROCKWELL SR ASSOC DIRECTOR OF COMMUNICATIONS 40.0
Highest
$112,754 $19,575 $132,329
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 $84,215,955 $84,259,876 $1,059,529,799 $-43,921
2024 $53,247,393 $68,622,811 $970,176,377 $-15,375,418
2023 $57,642,255 $40,344,703 $893,271,630 $17,297,552
2022 $47,988,009 $40,469,142 $827,958,797 $7,518,867
2021 $75,393,096 $46,001,368 $881,335,894 $29,391,728
2020 $54,318,573 $33,636,938 $645,911,510 $20,681,635
2019 $70,020,837 $35,036,528 $622,243,347 $34,984,309
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