2024-05-15T13:30:50-05:00 2023-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2022-07-01 541528809 VIRGINIA TECH REAL ESTATE FOUNDATION INC VIRG 5402315751 902 PRICES FORK RD 4000 BLACKSBURG VA 24061 ANNE KEELER CFO 5402315751 2024-05-10 1 ANNE KEELER 999009999 0 JEFFREY G BARBOUR P01331383 5403450936 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANNE KEELER 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 20986553 0 X N/A X 1989 VA THE ORGANIZATION ENGAGES IN ANY AND ALL MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). 15 10 0 0 0 0 0 1360000 14397794 19611544 137751 15009 0 0 14535545 20986553 0 0 0 0 431610 464204 0 0 0 9218823 12387199 9650433 12851403 4885112 8135150 287318402 319536033 206382220 206560701 80936182 112975332 VIRGINIA TECH REAL ESTATE FOUNDATION, INC. (VTREF) WAS ORGANIZED SOLELY FOR THE BENEFIT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION, INC. VTREF IS TO ENGAGE IN MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY. 0 0 9070746 19611544 VTREF ENGAGED IN ACTIVITIES PERTAINING TO THE OWNERSHIP, DEVELOPMENT AND OPERATION OF VARIOUS PROPERTIES IN SUPPORT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION. 9070746 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 15 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 10 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X ELIZABETH MCCLANAHAN 5402315751 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 JACQUELINE L ARCHER DIRECTOR 2.00 X 0 0 0 EDWARD H BAINE DIRECTOR 2.00 X 0 0 0 CHRISTOPHER J BRIGHTMAN DIRECTOR 2.00 X 0 0 0 J BENJAMIN DOUGHTIE DIRECTOR 2.00 X 0 0 0 GREGORY C GODSEY DIRECTOR 2.00 X 0 0 0 STARLETTE B JOHNSON CHAIRMAN 2.00 X X 0 0 0 WILLIAM N PARK DIRECTOR 2.00 X 0 0 0 RENAE C PEARSON DIRECTOR 2.00 X 0 0 0 CHRISTOPHER M QUILLEN DIRECTOR 2.00 X 0 0 0 LAILA N ROSSI DIRECTOR 2.00 X 0 0 0 DR TIMOTHY D SANDS DIRECTOR 2.00 40.00 X 0 812851 84030 SHIRISH S SATHAYE DIRECTOR 2.00 X 0 0 0 CHRISTOPHER W SHEAN DIRECTOR 2.00 X 0 0 0 JAMES N STRAWBRIDGE DIRECTOR 2.00 X 0 0 0 GREGORY C THOMPSON DIRECTOR 2.00 X 0 0 0 ELIZABETH A MCCLANAHAN PRESIDENT 2.00 40.00 X 0 595400 33333 0 1408251 117363 0 0 1 0 W M JORDAN COMPANY 11010 JEFFERSON AVENUE NEWPORT NEWS VA 23601 CONSTRUCTION SERVICES 2405118 JANITORIAL & MAINTENANCE SOLUTIONS INC PO BOX 13562-3562 ROANOKE VA 24035 JANITORIAL SERVICES 375463 PAUL R SHIVELY INC PO BOX 699 FLOYD VA 240910699 DEMOLITION SERVICES 278065 3 1360000 1360000 1360000 VIRGINIA TECH RESEARCH CENTER 532000 7440991 7440991 NORTH END CENTER 532000 7210972 7210972 HOTEL ROANOKE 721110 2926198 2926198 UNIVERSITY GATEWAY CENTER 532000 1577900 1577900 OTHER PROGRAM SERVICE REVENUE 532000 455483 455483 19611544 15009 15009 20986553 19611544 0 15009 396327 396327 19488 19488 37038 37038 11351 11351 4053 4053 691790 678090 13700 7341 7341 40016 40016 791358 791358 39570 39570 3986679 3986679 2374128 2374128 146702 140352 6350 MISC EXPENSES 2340377 2340377 MAINTENANCE 1844277 1844277 TENANT SERVICES 39879 39879 TAXES 24778 24778 56251 56251 12851403 9070746 3780657 0 23879300 13983432 187925 113943 3195351 2731471 255801 247602 173811356 25261542 183828585 148549814 33426131 36140140 323850 298450 42221459 117471181 287318402 319536033 5861603 310959 13005542 11879934 180267690 184341450 7247385 10028358 206382220 206560701 X 76268214 108307364 4667968 4667968 80936182 112975332 287318402 319536033 X 8135150 23904000 X X 0 1 X 1 0 X X 2 VIRGINIA TECH FOUNDATION 540721690 7 1 0 0 VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY 546001805 2 1 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART I, LINE 12G, COLUMN (VI) THE EXPENSES INCURRED BY VIRGINIA TECH REAL ESTATE FOUNDATION, INC. THAT ARE REPORTED ON FORM 990, PART IX WERE EXPENDED TO PROVIDE SUPPORT AND MANAGEMENT TO ITS SUPPORTED ORGANIZATIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 56880180 56880180 115018163 23781407 91236756 1668495 1370767 297728 244518 109368 135150 148549814 INVESTMENT IN SUBSIDIARIES 36140140 C 36140140 LEASES RECEIVABLE 115613724 DUE FROM SUBSIDIARY 1624180 VINTAGE AND OTHER COLLECTION 4868 LONG TERM PROMISSORY NOTE 228409 117471181 DUE TO PARENT COMPANY 9024720 OTHER LIABILITIES 10000 SECURITY DEPOSIT 63427 LEASE LIABILITIES 930211 10028358 X PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT VTF AND VTREF QUALIFY UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND ARE, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. 0 0 0 0 0 0 0 0 0 DR TIMOTHY D SANDS DIRECTOR 0 696398 0 101000 0 15453 0 51850 0 32180 0 896881 0 0 ELIZABETH A MCCLANAHAN PRESIDENT 0 595400 0 0 0 0 0 32544 0 789 0 628733 0 0 X 1 1360000 APPRAISAL 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ACCORDING TO THE ORGANIZATION'S ARTICLES OF INCORPORATION, ARTICLES V AND VI, 6.1(II), THE SOLE MEMBER OF THE ORGANIZATION SHALL BE VIRGINIA TECH FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A ACCORDING TO THE ORGANIZATION'S ARTICLES OF INCORPORATION, ARTICLES V AND VI, 6.1(II), THE BOARD OF DIRECTORS SHALL BE ELECTED BY THE SOLE MEMBER, VIRGINIA TECH FOUNDATION INC. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT AND THE FOUNDATION ACCOUNTING STAFF PROVIDE THE NECESSARY FINANCIAL AND OTHER INFORMATION TO THE FOUNDATION'S INDEPENDENT THIRD PARTY TAX CONSULTANTS. THE TAX CONSULTANTS REVIEW AND COMPILE THE INFORMATION INTO THE 990 AND 990T FORMS AND PROVIDE A DRAFT TO MANAGEMENT. THE CFO AND CONTROLLER PERFORM A DETAILED REVIEW OF THE FORM PRIOR TO FORWARDING IT TO THE CEO FOR REVIEW. ANY ISSUES AFTER THESE REVIEWS ARE COMMUNICATED BACK TO THE THIRD PARTY TAX CONSULTANTS AND ARE CORRECTED AND ADDRESSED BY BOTH PARTIES. THE FORMS ARE ELECTRONICALLY PROVIDED TO ALL MEMBERS OF THE FOUNDATION BOARD OF DIRECTORS. IF THERE ARE NO COMMENTS OR ISSUES THAT COULD NOT BE RESOLVED, AN AUTHORIZED OFFICER THEN SIGNS THE TRANSMITTAL FORM TO PERMIT THE ELECTRONIC FILING ON BEHALF OF THE FOUNDATION. DISCLOSURE OF THE 990 AND 990T WILL BE MADE IN FULL COMPLIANCE WITH THE REQUIREMENTS ESTABLISHED BY THE IRS. FORM 990, PART VI, SECTION B, LINE 12C VIRGINIA TECH REAL ESTATE FOUNDATION FOLLOWS THE VIRGINIA TECH FOUNDATION CONFLICT OF INTEREST POLICY. THE VIRGINIA TECH FOUNDATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRES EACH MEMBER (FOUNDATION BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES (RESPONSIBLE PERSONS)) TO COMPLETE AN ANNUAL STATEMENT SETTING FORTH ANY AND ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST THAT OCCURRED DURING THE PAST FISCAL YEAR. IN ADDITION TO THE STATEMENT, AN ANNUAL COMPLIANCE QUESTIONNAIRE MUST BE COMPLETED AND SUBMITTED BY EACH MEMBER. ALSO, IF A CONFLICT SHOULD ARISE THAT WAS NOT PREVIOUSLY DISCLOSED IN THE ANNUAL STATEMENT OR THE QUESTIONNAIRE, A STATEMENT MUST BE SUBMITTED TO THE VIRGINIA TECH FOUNDATION DISCLOSING THE FACTS OF THE SITUATION. THE EXECUTIVE COMMITTEE OF THE FOUNDATION REVIEWS THE QUESTIONNAIRES AND STATEMENTS AND WILL DETERMINE IF A CONFLICT DOES ACTUALLY EXIST. THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TO AUTHORIZE APPROVE OR RATIFY THE ARRANGEMENT/TRANSACTION BASED SOLELY ON WHETHER IT IS IN THE BEST INTERESTS OF THE FOUNDATION IN PERFORMING ITS MISSION. FORM 990, PART VI, SECTION B, LINE 15 VIRGINIA TECH REAL ESTATE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. ITS DIRECTORS, IF COMPENSATED, RECEIVE COMPENSATION FROM VIRGINIA TECH. ITS PRESIDENT IS COMPENSATED BY VIRGINIA TECH FOUNDATION. THEREFORE THE NARRATIVES BELOW DESCRIBE THE COMPENSATION PROCESSES OF THE VTREF RELATED ORGANIZATIONS. BOARD OF DIRECTORS: DIRECTORS RECEIVE NO COMPENSATION FOR SERVICE TO THE FOUNDATION. OFFICERS: SALARY AND BENEFITS FOR THE VIRGINIA TECH FOUNDATION'S CHIEF EXECUTIVE OFFICER ARE APPROVED BY THE FOUNDATION'S COMPENSATION COMMITTEE, WHICH INCLUDES THE BOARD CHAIR AND TWO OR MORE ELECTED DIRECTORS. COMPARATIVE SALARY AND BENEFITS INFORMATION IS PROVIDED TO THE COMMITTEE FOR ITS CONSIDERATION IN MAKING ADJUSTMENTS. THE ANNUAL BOARD-APPROVED OPERATING BUDGET ESTABLISHES SALARIES AND BENEFITS FOR ALL OTHER FOUNDATION OFFICERS. PROFESSIONAL AND CLASSIFIED STAFF: PROFESSIONAL AND CLASSIFIED STAFF SALARIES, AND EMPLOYEE BENEFITS, ARE DETERMINED BY THE CHIEF EXECUTIVE OFFICER AND INCLUDED IN THE BOARD-APPROVED ANNUAL OPERATING BUDGET. COMPARATIVE MARKET AND OTHER DATA ARE USED IN ESTABLISHING AND ADJUSTING SALARIES AND PROVIDING BENEFITS. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. ANY SUCH REQUESTS WOULD BE CONSIDERED ON A CASE BY CASE BASIS. FORM 990, PART XI, LINE 9: DISTRIBUTION TO VIRGINIA TECH FOUNDATION 23,904,000. ROUNDING PART XII, LINE 2C THERE WERE NO CHANGES FROM THE PRIOR YEAR. 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