Virginia Commonwealth University School of Business Foundation
Virginia Commonwealth University School of Business Foundation
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About this organization
Mission
The foundation supports and promotes the activities and mission of the school of business at Virginia Commonwealth University. It solicits, manages and distributes assets for programs within the school of business. Through those activities, it provides resources to educate students, achieve teaching excellence, and promote scholarly research.
About
The VCU School of Business Foundation owns nonresidential real estate, which is leased to Virginia Commonwealth University for $1 per year. That property is leased to Virginia Commonwealth University for $1 per year, under a lease agreement which expires in 2031, for the purpose of housing the main teaching and activity facility for the school of business. The remainder of the rental income is imputed. The foundation has recorded as a liability an amount equal to the estimated present value of the future rental value of the facility over the initial lease term less the $1 annual rent payment. The foundation incurs interest, depreciation, amortization and legal expenses with regards to this activity.
Interesting data from their 2020 990 filing
The non-profit's mission is outlined in the filing as being “The mission of the foundation is to assist, support and foster the activities and mission of the school of business at virginia commonwealth university. it solicits, manages and distributes assets to benefit programs in the school of business. it also owns property which is leased to virginia commonwealth university to be used for school of business classes and activities.”.
When outlining its responsibilities, they were referred to as: “The foundation supports and promotes the activities and mission of the school of business at virginia commonwealth university. it solicits, manages and distributes assets for programs within the school of business. through those activities, it provides resources to educate students, achieve teaching excellence, and promote scholarly research.”.
- The state in which the non-profit operates has been officially reported as VA.
- The filing reveals the non-profit's address in 2020 to be 301 WEST MAIN STREET PO BOX 844000, RICHMOND, VA, 232844000.
- As per the non-profit's form for 2020, they have 0 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $7,462,351.
- The organization has 41 independent voting members.
- The organization was formed in 2005.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $180,950 in fundraising expenses.
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