EIN 54-0505966

VMI Foundation

IRS 501(c) type
501(c)(3)
Num. employees
34
Year formed
1937
Most recent tax filings
2023-06-01
NTEE code, primary
Description
The VMI Foundation’s mission is simple: to raise, steward, and invest the funds entrusted to it by members of the VMI Family for the sole purpose of advancing the Virginia Military Institute.
Total revenues
$36,993,722
2023
Total expenses
$27,100,301
2023
Total assets
$584,168,697
2023
Num. employees
34
2023

Program areas at VMI Foundation

Funds raised by the Foundation are used for providing scholarships and other academic and athletic program support to the Virginia military institute and its related alumni associations.

Grants made by VMI Foundation

GranteeGrant descriptionAmount
Commonwealth of VirginiaScholarships$6,013,560
Commonwealth of VirginiaOther$3,182,975
Commonwealth of VirginiaUndesignated Aid$2,592,611
...and 17 more grants made

Who funds VMI Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Herndon FoundationOperating Support$1,000,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$668,550
Vmi Keydet ClubAdministrative Support$342,004
...and 40 more grants received totalling $3,252,726

Personnel at VMI Foundation

NameTitleCompensation
David L PrasnickiChief Executive Officer$0
Meade B KingChief Operating Officer$142,095
Crissy S ElliottChief Financial Officer$0
Ernesto SampsonVice President of Administ$0
Theresa ConradVice President Development$154,394
...and 10 more key personnel

Financials for VMI Foundation

RevenuesFYE 06/2023
Total grants, contributions, etc.$23,270,934
Program services$0
Investment income and dividends$13,419,092
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$303,696
Total revenues$36,993,722

Form 990s for VMI Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-062023-11-15990View PDF
2022-062022-11-15990View PDF
2021-062021-11-15990View PDF
2020-062021-03-31990View PDF
2019-062020-06-08990View PDF
...and 9 more Form 990s
Data update history
January 22, 2024
Posted financials
Added Form 990 for fiscal year 2023
January 22, 2024
Updated personnel
Identified 4 new personnel
January 15, 2024
Updated personnel
Identified 2 new personnel
January 2, 2024
Received grants
Identified 12 new grant, including a grant for $342,004 from Vmi Keydet Club
January 1, 2024
Used new vendors
Identified 3 new vendors, including , , and
Nonprofit Types
Grantmaking organizationsSchoolsCharities
Issues
Education
Characteristics
Provides grantsOperates internationallyState / local levelEndowed supportTax deductible donations
General information
Address
PO Box 932
Lexington, VA 24450
Metro area
Roanoke, VA
County
Rockbridge County, VA
Website URL
vmialumni.org/ 
Phone
(800) 444-1839
IRS details
EIN
54-0505966
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1937
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B84: Alumni Associations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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