VIRGINIA STATE UNIVERSITY FOUNDATION

EIN: 546074532 501(c)(3) Education

PETERSBURG, VA

Total Revenue
$4,611,259
Total Expenses
$3,442,992
Total Assets
$39,494,458
Net Assets
$33,219,133
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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
VA
Principal Officer
ROBERT L TURNER JR
Phone
8045245215
Tax Period
2023-07-01 to 2024-06-30

VIRGINIA STATE UNIVERSITY FOUNDATION, founded in 1968, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2018. Revenue fell 40% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $409K, a strong 18% operating margin.

Mission

TO SUPPORT THE MISSION OF VIRGINIA STATE UNIVERSITY BY RECEIVING, MANAGING AND DISTRIBUTING DONATIONS AND CONTRIBUTIONS THAT AID IN THE ENHANCEMENT AND GROWTH OF THE 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 (2023)

Revenue Breakdown

Contributions & Grants $3,453,352
Program Service Revenue $0
Investment Income $1,157,907
Other Revenue $0
TOTAL REVENUE $4,611,259

Expense Breakdown

Grants Paid $912,813
Salaries & Benefits $233,481
Fundraising Expenses $40,369
Program Expenses $2,966,741
Other Expenses $2,296,698
TOTAL EXPENSES $3,442,992

Year-over-Year Comparison

2023 2022 Change
Revenue $4,611,259 $5,186,926 -0.1%
Expenses $3,442,992 $2,734,753 +0.3%
Net Income $1,168,267 $2,452,173 -0.5%
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
20
Independent Members
18
Employees
3
Volunteers
27

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
$655,608
Total Directors
20
$584,479
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BEVERLY EVERSON-JONES TRUSTEE 2.00
Director
$0 $0 $0
DANTE JACKSON TRUSTEE 2.00
Director
$0 $0 $0
CLIFF TAYLOR TRUSTEE 2.00
Director
$0 $0 $0
STEVEN HICKS TRUSTEE 2.00
Director
$0 $0 $0
MARIO M WHITE TRUSTEE 2.00
Director
$0 $0 $0
WILBERT J BRIGGS SR TRUSTEE 2.00
Director
$0 $0 $0
BRENDA STITH-FINCH CHAIR 5.00
Officer Director
$0 $0 $0
FRASIER W BRICKHOUSE II TRUSTEE 2.00
Director
$0 $0 $0
IRENE F LOGAN TREASURER 5.00
Officer Director
$0 $0 $0
KEVIN DAVENPORT VSU VP ADMIN & FINANCE 2.00
Director
$0 $100,480 $339,483
HAROLD GREEN VSU BOARD OF VISITORS 2.00
Director
$0 $0 $0
VALARIE A JONES VICE-CHAIR 5.00
Officer Director
$0 $0 $0
EARNEST A BAZEMORE SECRETARY 5.00
Officer Director
$0 $0 $0
NARDOS E KING TRUSTEE 2.00
Director
$0 $0 $0
CLAUDE A WOOD TRUSTEE 2.00
Director
$0 $0 $0
ANGEL CLARKE TRUSTEE 2.00
Director
$0 $0 $0
TONYA S HALL VSU VP FOR EXTERNAL AFFAIR 2.00
Director
$0 $48,512 $244,996
KARA C KING BESS TRUSTEE 2.00
Director
$0 $0 $0
DANIELLE JONES TRUSTEE 2.00
Director
$0 $0 $0
LAURIE CARPENTER TRUSTEE 2.00
Director
$0 $0 $0
ROBERT L TURNER JR EXECUTIVE DIRECTOR 40.00
Officer
$55,000 $0 $55,000
MAKOLA M ABDULLAH PRESIDENT EX-OFFICIO 2.00
Officer
$0 $94,175 $550,608
HARRISON BONNER III DIRECTOR OF FINANCE & ACCO 40.00
Officer
$50,000 $0 $50,000
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 $4,611,259 $3,442,992 $39,494,458 $1,168,267
2023 $5,186,926 $2,734,753 $36,672,974 $2,452,173
2022 $4,393,072 $1,889,084 $28,931,771 $2,503,988
2021 $5,931,802 $1,458,999 $26,802,449 $4,472,803
2020 $1,444,442 $1,514,693 $19,798,914 $-70,251
2019 $2,300,501 $1,891,520 $19,549,786 $408,981
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