University of Virginia Foundation

To provide administrative services to University of Virginia (University) entities, University associated organizations, or other entities involved in activities that support the University. To engage in matters pertaining to real property for the benefit of the University. To that end, the Foundation shall engage in real estate activities for one or more of the following reasons: to support the University's primary programs; to provide an investment return; to provide for the real estate needs of the University for the next 100 years; and to improve the University's boundaries and entrances.

The Foundation grants scholarships annually. The scholarships are awarded to graduating senior high school students. The Foundation asks all of the public and private high schools in Virginia to nominate one graduating senior high school student. The Foundation has found that more than 600 students will be nominated for the eleven scholarships each year. The primary criteria will be scholastic ability. Additional criteria include excellence of character, qualities of leadership, public service and devotion to duty. Awards have been granted for approximately 20 years.

The Foundation provides accounting services to some University associated organizations (uao's). Each of the uao's is tax exempt under section 501(c)(3). The services provided include bookkeeping, financial analysis, investment assistance, budget management, management of audit process, general consulting, and financial reporting. The Foundation also provides administration of payroll and benefits for several uao's. By providing these services, the Foundation enables the University of Virginia to concentrate more resources (both personnel and financial) on raising funds for its educational purposes. The Foundation provides the above-mentioned services for the following uao's: uva health Foundation, uva's college at wise Foundation, inc., uva school of education and human development Foundation, uva school of architecture Foundation, the University of Virginia medical school Foundation, leifur eiriksson Foundation, and the University of Virginia alumni board of trustees of the endowment.