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FY 2023

Verified NonprofitLast Filed 2023EIN 54-0554396

Virginia Foundation for Independent Colleges

RICHMOND, VANTEE: B42JFounded 1952Website

mission statement

Advance the distinctive values and strengths of our sixteen smaller enrollment, undergraduate, residential virginia member colleges.

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Total Revenue

$2.2M

FY 2023

Program Spending

74.6%

of total expenses

Known Funders

2019–2024 filings

Key Metrics (FY 2023)

The Numbers

$40.8M

Total Assets

$38.6M net

122.07 mo

Operating Reserves

FY 2023

Active Programs

FY 2023

Total Employees

FY 2023

Funding Track Record

Backed by 44 Institutional Funders

$4.1M raised across 138 grants · +$203K committed (2019–2024 filings)

Funder Geography

Funders across 14 states (2019–2024 filings)

Institutional Funding by Year

PaidCommittedBoth

Funder	Location	Total Awarded
The Community Foundation Inc	RICHMOND, VA	$1,342,025
Dominion Energy Charitable Foundation	RICHMOND, VA	$400,000
Council of Independent Colleges	WASHINGTON, DC	$377,900
The Landmark Foundation	NORFOLK, VA	$315,000
The Teagle Foundation Incorporated	NEW YORK, NY	$210,000 +$173,000 committed
Massey Family Foundation	RICHMOND, VA	$200,000
Donor Advised Charitable Giving Inc	SAN FRANCISCO, CA	$134,350
The Winston-Salem Foundation	WINSTONSALEM, NC	$130,000
The Imperial Charitable Trust	LYNCHBURG, VA	$110,500
American Electric Power Foundation	Wilmington, DE	$98,000

Total tracked: $4,113,445 across 138 grants · +$203,000 committed across 3 commitments (2019–2024 filings)

Totals reflect grants as reported on funder tax returns. Timing may not match recipient revenue: funder and recipient fiscal years often differ, and grants paid by a funder in one year may be recognized by the recipient in a different year.

Programs (FY 2023)

What They Do

$2.2M in expenses

The foundation provides annual unrestricted and restricted contributions to support crucial needs at its sixteen member institutions, including funding for campus operations, academic program development, and faculty development.

$639K in expenses

Other programs include support for the new horizons program, internship programs, ethics bowl, undergraduate teaching and the summer undergraduate program for research in the sciences.

$22K in expenses

The women's leadership development summit is designed to empower young women who are attending a VFIC member college or university. Selected students joined fellow VFIC students from across the commonwealth for a three-day summit to hear from dynamic and inspirational corporate and civic leaders about the skills needed to assume positions of authority in professional and personal settings. The students explored their own personal pursuits in the areas of leadership, skills development, and identifying and further strengthening the areas needed to recognize their full potential.

Financial History

Revenue Over Time

Revenue Mix

Contributions & Grants

92%

Investment Income

Governance (FY 2023)

Leadership

Matthew Shank

Board Member

Mary-Beth Johnson

Chief Operating Officer

Nancy Howell Agee

Board Chair

Victor O Cardwell Esq

Board Member

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