Medical College of Virginia Foundation
1228 East Broad Street
Richmond VA 23298
Mission Statement The Medical College of Virginia Foundation promotes philanthropy and stewards resources to support the Virginia Commonwealth University Medical Center and Virginia Commonwealth University Health System by advancing education, research, and patient care.
CEO/Executive Director Ms. Margaret Ann Bollmeier
Board Chair Harry R. Thalhimer
Board Chair Company Affiliation Thalhimer Headwear
Contact Information
Address 1228 East Broad Street
Richmond, VA 23298
Telephone 804 828-9734
Fax 804 827-3729
History and Background
Year of Incorporation 1949
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
Projected Revenue $4,506,502.00
Projected Expenses $4,506,502.00
Mission The Medical College of Virginia Foundation promotes philanthropy and stewards resources to support the Virginia Commonwealth University Medical Center and Virginia Commonwealth University Health System by advancing education, research, and patient care.
Impact Past Year Accomplishments
1. Received over $30 million in gifts and pledges
2. Recruited 8 new members for the Board of Trustees
3. Provided over $25 million in support to the schools and units of the MCV Campus
Current Year Goals
1. Receive at least $24 million in gifts and pledges
2. Recruit Executive Director of Development and Planned Giving Officer
3. Provide at least $25 million in support to the schools and units of the MCV Campus

The MCV Foundation supports the fundraising priorities of its seven major campus partners at VCU’s Medical Center and their many units— School of Allied Health Professions, School of Dentistry, School of Medicine, School of Nursing, School of Pharmacy, Massey Cancer Center, and the MCV Hospitals. Now more than ever, private support is critical for advancing the Medical Center’s mission of teaching, research, and clinical services for greater Richmond and beyond. Through a committed corps of volunteer leaders and dedicated staff across the campus, the MCV Foundation strives to be a catalytic partner for strategic fundraising. Current priorities include the following, with the goal of securing over $50 Million this year:

    1) Donor-named, endowed and current scholarships for undergraduate and graduate students;

    2) Donor-named, endowed faculty professorships and chairs;

    3) Research support across the clinical and disease spectrums;

    4) Capital projects, including the Medical Education Center (building to serve as the hub of teaching and learning for several generations of future medical doctors), and a cancer treatment-research tower.

Since 1949, the Foundation has worked to achieve a singular objective: support educational, clinical and research excellence on the MCV Campus. The Foundation forms a critical link between the community and the university, connecting the passions and priorities of alumni and friends to the schools and centers that comprise our campus partners.

As the MCV Campus has grown and changed, so has the scope of the Foundation’s responsibilities. Today, we pursue our mission to inspire and steward philanthropy throughout the MCV Campus by:

  • Partnering with and investing in school-based and center-based development programs to meet their strategic objectives
  • Maintaining strong relationships with benefactors and ensuring that each donor’s wishes are honored
  • Fostering a prudent investment program to increase the value of endowment gifts
  • Providing financial and accounting services to those receiving private funds
  • Helping MCV campus partners respond to opportunities with effectiveness and ease
  • Publicizing the impact of philanthropy of the MCV Campus to recognize its benefactors and inspire others to give
Areas of Service
Areas Served
Metro Richmond
Tri-cities Region
Richmond, City
Northern Neck
Chesterfield County
Goochland County
Hanover County
Henrico County
Charles City County
Louisa County
New Kent County
Board Chair
Board Chair Harry R. Thalhimer
Company Affiliation Thalhimer Headwear
Term July 2016 to June 2019
Board of Directors
Board Members
Mr. Wyatt S. Beazley IVWilliams Mullen
Mr. John O. Beckner National Community Pharmacists Association
Dr. Katherine C. Bobbitt Community Volunteer
Mr. Roger L. Boeve Performance Food Group Company
Dr. Charles F. Bryan Jr.Retired, Virginia Historical Society
Ms. Elizabeth Whalley Buono MeadWestvaco Healthcare
Dr. George W. Burke IIIRetired
Dr. B. Ellen Byrne Community Volunteer
Dr. Charles M. Caravati Jr.Retired, Dermatology Associates of Virginia
Mr. Irving Lee Chapman IVDavenport and Company
Mr. Herbert A. Claiborne IIICarpenter and Company
Dr. Richard M. Clary Retired
Ms. Judith B. Collins WHNPCommunity Volunteer
Dr. William D. Covington Community Volunteer
Mr. Charles F. Crone Community Volunteer
Mr. George P. Emerson Jr.Everson Companies, LLC
Ms. Sheryl Garland VCU Health
Mr. Jeffrey H. Gumenick Gumenick Properties
Mr. L. Preston Hale QS-1 Data Systems
Mr. Basil Leonard Hurst IIIPlural Investments, LLC
Ms. Gail W. Johnson R.N.Rainbow Station, Inc.
Mr. Darius Johnson Premier Bank
Mr. Lee B. Krumbein LBK Investments, LLC
Mr. David A. Lyons Lowe, Brockenbrough & Company, Inc.
Mr. Ronald H. McFarlane MedPro Rx, Inc.
Mr. J. Keith Middleton Community Volunteer
Mr. H. Frederick T. Moore Big River Advertising
Mr. Robert F. Norfleet Jr.Retired
Mrs. Rebecca T. Perdue Retired
Dr. John F. Philips Wisdom and Wealth Solutions, Inc
Dr. Ghulam D. Qureshi West End Hematology Oncology
Dr. Michael Rao President, Virginia Commonwealth University
Dr. Marsha D. Rappley VCU Health System
Dr. James H. Revere President of the MCV Alumni Association
Mr. John Slyh Deloitte & Touche
Mr. T. K. Somanath Retired, Richmond Better Housing Coalition
Ms. Ellen E. Spong Trusco Capital Management
Mrs. Tracy Kemp Stallings McGuireWoods
Mr. James H. Starkey IIICommunity Volunteer
Dr. Kit T. Sullivan Virginia Family Dentistry
Mr. Joseph M. Teefey Community Volunteer
Mr. Harry R. Thalhimer Thalhimer Headwear
Dr. Richard P. Wenzel VCU Dept. of Internal Medicine
Dr. Michelle Whitehurst-Cook School of Medicine
Ms. Judith Forehand Woods Community Volunteer
Mr. Steve L. Worley Retired
Board Demographics - Ethnicity
African American/Black 2
Asian American/Pacific Islander 0
Caucasian 41
Hispanic/Latino 0
Native American/American Indian 0
Other 1 Indian
Board Demographics - Gender
Male 33
Female 11
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 93
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Ms. Margaret Ann Bollmeier
Senior Staff
Mr. Jennings D. Dawson IIIChief Financial Officer
Mr. Brian S. Thomas Vice President & Chief Development Officer
Full Time Staff 13
Organization has a Strategic Plan?

For the better part of two centuries, the mission of the VCU School of Medicine has balanced teaching, research and patient care. In recent years, we have defined our mission as “the constant improvement of the quality of health care for citizens of Virginia using innovative, scholarly activity to create new knowledge, to provide better systems of medical education and to develop more effective health care methods.”


The School of Allied Health Professions serves as an international leader in the education of excellent, innovative and responsible allied health professionals. The School, responsive to the needs of society, promotes excellence in healthcare service, and encourages collaborative research that generates state-of-the-art and specialized knowledge. Educational formats that are technologically advanced and accessible to students through on-campus and distance learning are emphasized.

The School is an integral part of Virginia Commonwealth University and its Medical College of Virginia campus. The School recognizes the importance of being accountable to the students and their families, the Commonwealth, faculty, staff, alumni/alumnae, and other benefactors by using resources effectively. Strong linkages with clinical educators, preceptors, and the community are essential to the success of the School.

Description The School of Dentistry has a long history of educating practitioners capable of meeting the oral health care needs of the communities they serve. The School provides opportunities for selected, qualified individuals to study dentistry under the most favorable conditions and in accordance with the standards established by the Commission on Dental Accreditation of the American Dental Association.
Description Established in 1893, the School has a proud heritage of educating the nation’s best nurses. Today, the School is a leader in nursing education and research. VCU offers the full range of academic programs from baccalaureate to doctoral programs. The School enrolls more than 900 students and offers a rigorous education combining classes conducted in state of the science classrooms and clinical simulation laboratories to patient care experiences in Magnet hospitals and community clinics and physician offices. Our partnership with the VCU Health System, a level 1 trauma center with Magnet status, offers one of the best clinical experiences in the nation. The VCU School of Nursing faculty are nationally recognized for their contributions to research and education. Currently, the School is ranked 21st nationally in NIH funding.

Rated among the nation's top professional graduate programs, the VCU School of Pharmacy is at the forefront in Pharmacy, Pharmaceutics, and Medicinal Chemistry education and research. Established in 1898, the School has a long history of pioneering changes in the field of Pharmacy. Throughout the past century Pharmacy practice has changed dramatically, from the art and science of compounding and dispensing medicine to a valuable information resource in drug management for patients and health care professionals. Over 110 years since its founding, the School's programs serve as a model for many schools nationwide.

Fiscal Year
Projected Revenue $4,506,502.00
Projected Expenses $4,506,502.00
Endowment Value $208,994,000.00
Spending Policy Percentage
Percentage (if selected) 5
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201620152014
Foundation and
Corporation Contributions
Government Contributions$0$0$0
Individual Contributions$18,778,485$19,750,470$26,925,000
Investment Income, Net of Losses($22,555,982)$17,064,003$45,621,000
Membership Dues------
Special Events------
Revenue In-Kind$5,575,580$4,107,637--
Expense Allocation
Fiscal Year201620152014
Program Expense$27,536,029$29,953,171$32,705,000
Administration Expense$4,593,379$1,486,175$2,580,000
Fundraising Expense$3,936,084$891,479--
Payments to Affiliates------
Total Revenue/Total Expenses0.421.342.20
Program Expense/Total Expenses91%93%93%
Fundraising Expense/Contributed Revenue14%5%0%
Assets and Liabilities
Fiscal Year201620152014
Total Assets$472,338,722$490,076,874$479,643,000
Current Assets$38,702,886$41,667,504$12,928,000
Long-Term Liabilities$1,214,951$1,294,110--
Current Liabilities$10,530,386$10,689,258$12,625,000
Total Net Assets$460,593,385$478,093,506$467,018,000
Short Term Solvency
Fiscal Year201620152014
Current Ratio: Current Assets/Current Liabilities3.683.901.02
Long Term Solvency
Fiscal Year201620152014
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? Yes
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Foundation Comments
  • Financial information provided from IRS 990s.
  • IRS 990s and audited financial statements prepared by Keiter, Stephens, Hurst, Gary & Shreaves.
  • Revenue from "Foundations and Corporations" also includes support from individuals, and may also include support from government agencies.