Virginia State University Foundation

Virginia State University Foundation General Information Contact Information Nonprofit Address Virginia State University Foundation Storum Hall P.O. Box 9027 Petersburg, VA 23806 Phone 804 524-5215 Fax 804 524-1245 Web Site www.vsu.edu Facebook facebook.com/virginiastateuniversity Twitter @VSUTrojans At A Glance Year of Incorporation 1968 Organization's type of tax exempt status Public Supported Charity 1

Statements & Search Criteria Mission The purpose of the Foundation is 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. Virginia State University, a public, comprehensive 1890 Land Grant institution and historically black college/university, is committed to the preparation of a diverse population of men and women through the advancement of academic programs and services that integrate instruction, research, extension, and outreach. The University endeavors to meet the educational needs of students, graduating lifelong learners who are well equipped to serve their communities as informed citizens, globally competitive leaders, and highly effective, ethical professionals. Background The Virginia State College Foundation was incorporated in the Commonwealth of Virginia on March 4, 1968, and granted tax exemption under Section 501(c) 3 status of the Internal Revenue code on June 1, 1968. On September 2, 1980, the name was officially changed to Virginia State University Foundation. Impact HBCU Digest recently named the Virginia State University (VSU) Department of Art & Design the Best Fine Arts Program at an HBCU for 2015-16. The honor is the second major recognition for the department in the past six months. In May, Animation Career Review ranked VSU s animation program 46th in the nation among public institutions. VSU s program was the nation s highest ranked HBCU and one of only two Virginia universities, the other being Virginia Tech, to be ranked. In an article from HBCU Lifestyle, noted researcher Dr. Larry J. Walker, a former Congressional Fellow with the Congressional Black Caucus Foundation and Legislative Director for former Congressman Major R. Owens, ranked Virginia State University (VSU) fifth among the nation's 104 Historically Black Colleges and Universities (HBCU) in a ranking of the top producers of teachers, based on data from the National Center for Education Statistics (NCES). VSU broke ground in December 2013 on its $84 million Multipurpose Center, a beacon of cooperation and unity. The new facility is expected to open in Fall 2015. The Huffington Post and HBCU Digest cited VSU as one of five HBCUs that are Saving the World Through Sustainability. VSU was noted for its Cooperative Extension program, which, the groups said promotes sustainable agricultural practices, and stronger local economies in and around Petersburg, VA. Assisting independent farmers VSU helps generations of current and potential farmers grow produce and business savvy through instruction on best practices and exposure to new technologies in aquaponics and alternative crops. In October 2014, the U.S. Department of Labor awarded VSU a $3.25 million grant to help develop a training program for the wireless workforce of the future, focused on educating veterans, displaced workers and others for careers in building and maintaining America s wireless networks. Needs The University has many needs ranging from unrestricted scholarship to programmatic support and we are sincerely delighted about your interest in supporting Virginia State University s legacy. Every dollar you donate to the Virginia State University Foundation goes towards advancing the University s mission and strategic goals. A gift of any size makes a difference and is vital to the prosperity of the University. We thank you in advance for your generosity and lifetime support! Areas Of Service Areas Served Areas Statewide National Service Categories 2

Scholarships & Student Financial Aid Universities 3

Programs Programs Scholarships Description The Foundation provides scholarship support to students who are enrolled and matriculating at VSU. Budget $0.00 4

Board & Governance Board Chair Board Chair Beverly Everson Jones Company Affiliation Fannie Mae Term Jan 2017 to Jan 2019 Email beverly@everson-jones.com Board Members Name Affiliation Status Makola Abdullah VSU Exofficio William E. Bailey Unknown Voting Harrison Bonner III Altria Voting Frasier W Brickhouse II, MBA, CPA Tredegar Corporation Voting Wilbert Briggs Community Leader Voting Charles Brockett Retired Voting Hank Coleman SunTrust Voting Kevin Davenport VSU Exofficio Beverly Everson-Jones Fannie Mae Voting Brenda Stith Finch Verizon Voting Paul Garner Community Volunteer Voting Willis Gay MBA Retired Voting Dante Jackson Ameriprise Financial Services, Inc. Voting Franklin Johnson Jr. VSUAA Exofficio Frankie Jones IBM-Retired Voting Vandy Jones Unknown Voting Valarie Abbott Jones Esq. Unknown Voting Nardos King Community Volunteer Voting Reshunda Mahone VSU NonVoting George Otey Retired Voting Samuel R Rhue Sr., MBA CIGNA Insurance Voting Xavier Richardson VSU NonVoting Connie W. Smith Unknown Voting Emmett E. Smith Unknown Voting Board Demographics - Ethnicity African American/Black 23 Asian American/Pacific Islander 0 Caucasian 0 Hispanic/Latino 0 5

Native American/American Indian 0 Board Demographics - Gender Male 18 Female 5 Unspecified 0 Governance Board Term Lengths 3 Board Term Limits 3 Board Meeting Attendance % 0 Written Board Selection Criteria? Written Conflict of Interest Policy? Yes No Percentage Making Monetary Contributions 100 Percentage Making In-Kind Contributions 0 Number of Full Board Meetings Annually 4 6

Management Executive Director/CEO Executive Director Robert L. Turner Jr, J.D. Term Start July 2004 Email rturner@vsu.edu Staff Full Time Staff 0 Part Time Staff 0 Volunteers 0 Contractors 0 Retention Rate 0 Plans Organization has a Strategic Plan? Yes 7

Financials Fiscal Year July Fiscal Year 2017 Projected Revenue $2,669,000.00 Projected Expenses $1,360,000.00 Endowment Value 13530012 Spending Policy Percentage Percentage (if selected) 4.75% s Detailed Financials Revenue and Expenses Total Revenue $2,034,560 $3,411,762 $2,460,862 Total Expenses $2,007,982 $1,158,497 $1,005,309 Revenue Sources Foundation and Corporation $304,000 -- $218,500 Contributions Government Contributions $0 $0 $0 Federal -- -- -- State -- -- -- Local -- -- -- Unspecified -- -- -- Individual Contributions $1,351,129 $1,357,445 $1,251,351 Indirect Public Support -- -- -- Earned Revenue -- -- $16,250 Investment Income, Net of Losses $379,431 $2,007,149 $974,761 Membership Dues -- -- -- Special Events -- $47,168 -- Revenue In-Kind -- -- -- Other -- -- -- 8

Expense Allocation Program Expense $1,744,221 $796,428 $718,254 Administration Expense $263,761 $231,851 $287,055 Fundraising Expense $0 $130,218 -- Payments to Affiliates -- -- -- Total Revenue/Total Expenses 1.01 2.94 2.45 Program Expense/Total Expenses 87% 69% 71% Fundraising Expense/Contributed Revenue 0% 9% 0% Assets and Liabilities Total Assets $15,156,726 $15,135,686 $12,834,525 Current Assets $2,347,927 $2,352,750 $1,991,595 Long-Term Liabilities $0 -- -- Current Liabilities $99,457 $104,995 $57,099 Total Net Assets $15,057,269 $15,030,691 $12,777,426 Short Term Solvency Current Ratio: Current Assets/Current Liabilities 23.61 22.41 34.88 Long Term Solvency Long-Term Liabilities/Total Assets 0% 0% 0% Top Funding Sources Top Funding Source & Dollar Amount -- -- -- Second Highest Funding Source & Dollar -- -- -- Amount Third Highest Funding Source & Dollar Amount -- -- -- Capital Campaign Currently in a Capital Campaign? No Goal 0 Capital Campaign Anticipated in Next 5 Years? No State Charitable Solicitaions Permit Permit? Exempt 0 Comments Foundation Comments and audit prepared by Dixon, Hughes, Goodman, LLP. Financial analysis performed with audit. 9