Better Business Bureau Report for
Virginia College Fund

Better Business Bureau Report issued December 2012
Better Business Bureau Report expires December 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


Find out more about this charity:

Back To Top

Charity Contact Information

Name: Virginia College Fund
Address: 4900 Augusta Avenue
Suite 101
  Richmond, VA 23230
Phone: 804-355-3271
Web Address: www.thevcf.org
Also known as:The Virginia College Fund
Back To Top

Better Business Bureau Comments

Year, State Incorporated: 1965, Virginia
Affiliates: None
Stated Purpose: The Virginia College Fund makes it possible for the corporate, foundation and individual citizen to invest in each of its member institutions through a statewide organization for the benefit of students and to encourage growth in academic excellence.

Back To Top

Evaluation Conclusions

               

Virginia College Fund meets the 20 Standards for Charity Accountability.
Back To Top

Programs

               

The Virginia College Fund's principal program service activity is that of raising corporate and foundation funds in support of its member colleges. Last year (FYE May 31, 2011) it distributed $945,701 to its five member colleges and universities in both restricted and unrestricted funding. In addition, it administered the Beazley Scholars Program to approximately 15 students attending these institutions of higher education, obtained funding for its colleges' faculties to create more online courses and generally furthered the cause of independent higher education in Virginia.

For the fiscal year ended May 31, 2012, Virginia College Fund's program expenses were:

  
Distributions to member colleges 713,638
Total Program Expenses: $713,638
Back To Top

Governance

               

Chief Executive : James K. Dill, President
Compensation*: 

Chair of the Board: Larry L. Parks
Chair's Profession / Business Affiliation: LL Parks Business Advisors

Board Size: 33

Paid Staff Size: 2

Back To Top

Fund Raising

               

Method(s) Used:

Direct mail, telephone, grant proposals, internet, planned giving arrangements, membership
Fund raising costs were 5% of related contributions. (Related contributions, which totaled $708,584, are donations received as a result of fund raising activities.)
Back To Top

Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
Back To Top

Financial

               

The following information is based on Virginia College Fund's audited financial statements for the fiscal year ended May 31, 2012.

Source of Funds  
Public contributions 708,584
Membership assessments 297,941
Interest income 634
Total Income $1,007,159


chart



Uses of Funds as a % of Total Expenses

Programs: 71%  Fund Raising: 3%  Administrative: 26% 

Total income $1,007,159
Program expenses $713,638
Fund raising expenses 32,675
Administrative expenses 259,266
Total expenses $1,005,579
Income in Excess of Expenses 1,580
Beginning net assets (34)
Ending net assets 1,546
Total liabilities 716,402
Total assets $717,948


Back To Top

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

Send to:



What is an Accredited Charity