Virginia Foundation for Community College Education
300 Arboretum Place, Suite 200
Richmond VA 23236
Mission Statement
The Virginia Foundation for Community College Education is providing access to education for all Virginians.
Leadership
CEO/Executive Director Ms. Mitzi Reynolds
Board Chair Mr. Gerald L. Baliles
Board Chair Company Affiliation Retired
Contact Information
Address 300 Arboretum Place, Suite 200
Richmond, VA 23236
Telephone 804 819-4961
Fax 804 819-4768
E-mail foundation@vccs.edu
History and Background
Year of Incorporation 1969
Financial Summary
 
 
Projected Revenue $5,000,000.00
Projected Expenses $3,928,000.00
Additional Documents
VCCS Annual Report2015View
VCCS Annual Report2014View
VCCS Annual Report2013View
VCCS Annual Report2012View
VCCS Annual Report2011View
VCCS Annual Report2010View
VCCS Annual Report2009View
VCCS Annual Report2008View
Statements
Mission
The Virginia Foundation for Community College Education is providing access to education for all Virginians.
Impact

1.      Working in partnership with the 23 colleges and their respective leadership to provide additional value to their efforts

Status:  Since 2005, The Virginia Foundation for Community College Education (VFCCE) has undertaken a number of notable initiatives in support of this goal, foremost of which are the Legislative Reception, the Chancellor’s Award for Leadership in Philanthropy, the Commonwealth Legacy Scholarship Program, and the Great Expectations Education Program for Foster Youth. Each of these has an important purpose beyond fundraising – enhancing image and visibility, building awareness, recognizing the role of private philanthropy, and highlighting the critical mission of Virginia’s Community Colleges in addressing the unmet needs of the commonwealth.

In addition, donors have shared with the VFCCE that a statewide foundation serves them well as a central point of contact for philanthropic investment rather than having to choose between colleges.


2.  Engaging statewide leaders with the vision and capacity to influence key stakeholders and promote investment at the state level for the benefit of all 

Status: The VFCCE has made substantial strides in engaging statewide leaders in our efforts and building a strong Board of Directors committed to both advocacy and support. From an initial membership of 3 in 2005, the board is now composed of 26 prominent Virginians from the top echelons of business and industry, education, government, law, finance, healthcare, and civic affairs across the commonwealth. This caliber of leadership has been instrumental in identifying and cultivating major individual prospects and opening doors to corporate, foundation, and governmental resources beyond what is possible at the local college level.

Since 2005, the VFCCE has raised over $10 million in support of the foundation’s signature initiatives and the 23 colleges. The assets have grown from $12,000 in 2005 to $6.4 million. Over $700,000 has been distributed to the colleges for scholarship funding, and over $400,000 has been secured to underwrite the costs of the statewide events listed above. Signature programs to broaden access to education and to support underserved populations include the Commonwealth Legacy Scholarship Program and Great Expectations. The Commonwealth Legacy Scholarship Program has provided over $400,000 in scholarships, and over $2 million has been endowed. The Great Expectations program is serving over 500 foster youth, and over $5 million has been raised to develop, implement, and sustain the program.
Needs

  1. To increase the overall fundraising goal by 10%. The board approved a 2010-2011 fundraising goal of $3,104,000.
  2. To expand the Commonwealth Legacy Scholarship Program, include enhanced learning and service opportunities for recipients, and strengthen competition to produce a more select group of awardees. The cost of this pilot program serving 10 students is $150,000.
  3. To build capacity with Great Expectations serving an additional 100 students, expanding the number of participating colleges, raising a minimum of $1,000,000, and enlisting 3 to 5 donors to include the program in their respective estate plans.
  4. To increase the number of members in the Dana Hamel Legacy Society (Planned Giving) from 5 to 15 people.
  5. To begin defining the scope of the workforce endowment and to capitalize on opportunities as they arise.
Background The VFCCE was incorporated in January 1969 but remained inactive until January 2005 when Chancellor Glenn DuBois made a commitment to re-energize it as part of the VCCS Strategic Plan in order to to place significant emphasis on resource development. Two key goals were established for the VFCCE not only to respond to necessity but primarily to create and pursue untapped new opportunities. 
Over the past 5 years, the VFCCE has raised a total of $7 million and has grown assets to over $4 million.
Board Chair Statement


Areas of Service
Areas Served
Area
Metro Richmond
Tri-cities Region
Richmond, City
Ashland
Chester
Chesterfield County
Colonial Heights, City
Dinwiddie County
Ettrick
Goochland County
Hanover County
Henrico County
Hopewell, City
Matoaka
Petersburg, City
Powhatan County
Prince George County
Sussex County
Charles City County
Gloucester County
King and Queen County
Lancaster County
Louisa County
Mathews County
Middlesex County
New Kent County
Northumberland County
Charlottesville-Albermarle
Hampton Roads
Northern Neck
Northern Virginia
Shenandoah Valley
Southside Virginia
Southwest Virginia
Statewide
The Virginia Foundation for Community College System supports communities surrounding 23 Virginia Community Colleges on 40 campuses throughout the Commonwealth of Virginia
Board Chair
Board Chair Mr. Gerald L. Baliles
Company Affiliation Retired
Term Jan 2015 to Jan 2017
Email gbaliles@comcast.net
Board of Directors
Board Members
NameAffiliation
The Honorable Gerald L. Baliles The Miller Center
Ms. Melanie Bias Wisdom Oak Winery
Mr. Arthur S. Brinkley Raymond James
Dr. John T. Casteen IIIThe University of Virginia (retired)
Mr. Hank Chao Verizon Business
Dr. Glenn DuBois Virginia's Community Colleges
The Honorable James W. Dyke Jr.McGuire Woods
Mr. Adam M. Fried Atlantic Builders
Dr. Jennifer Sager Gentry Virginia Community College System Office
Mr. Philip H. Goodpasture Williams Mullen
Mr. William C. Hall Jr.Dominion Resources (retired)
Mr. Edwin Hall Hall Associates Inc.
Ms. Eva Tieg Hardy Dominion Resources (retired)
Mr. Charles F. Hess HESS Construction + Engineering Services
Mr. Ronald Holmes Merrill Lynch
Ms. Kathleen Langan Community Volunteer
Ms. Chandra D. Lantz Hirschler Fleischer
Ms. Gaye Montgomery Altria Client Services
Ms. Maricel Quintana-Baker MQB-Consulting
Dr. John Rainone Dabney S. Lancaster Community College
Ms. Mitzi Reynolds VFCCE Executive Director
Ms. Eleanor Saslaw Educator
Mr. P. Martin Sharpless Skanska
Mr. Gerald (J.J.) F. Smith Jr.Valley Proteins Inc.
Mrs. Donna VanCleave Virginia Community College System Office
Ms. Jeanette Wang Performer, Volunteer
Mr. Daniel Weekley Dominion
Mr. Robert W. Woltz Jr.Verizon Communications (retired)
Board Demographics - Ethnicity
African American/Black 1
Asian American/Pacific Islander 2
Caucasian 21
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 16
Female 8
Governance
Board Term Lengths 3
Board Term Limits 2
Board Meeting Attendance % 90
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Percentage Making In-Kind Contributions 100
Number of Full Board Meetings Annually 4
Standing Committees
Audit
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Executive
Finance
Nominating
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Advisory Board Members
NameAffiliation
The Honorable George Allen
The Honorable James Gilmore Former Governor
The Honorable Dana Hamel Chancellor EmeritusThe Virginia Community College System
The Honorable Linwood Holton Former Governor
The Honorable Tim Kaine
The Honorable Charles Robb Former Governor
The Honorable Mark Warner Former Governor
The Honorable Douglas Wilder Former Governor
Executive Director
Executive Director Ms. Mitzi Reynolds
Experience

Mitzi Reynolds has joined VFCCE as the new Executive Director in October 2013. The former executive director, Jennifer Gentry, will lead the foundation’s major gifts effort and continue to serve as vice chancellor of Institutional Advancement for Virginia’s Community Colleges.

Reynolds has more than 25 years of senior-level management, communications, finance and relationship management experience. Her career includes investor relations leadership for public companies, firm administration, and a variety of commercial banking roles. She also has broad experience in the nonprofit community including fund development, strategic planning, public relations and marketing.

Reynolds recently served as vice president for investor relations for Colfax Corporation where she established the investor relations function for a newly-public global manufacturer. She was the company spokesperson and primary contact with the investment community at Colfax and also at Tredegar, where she led investor relations and corporate communications. She previously served as firm administrator for Wells Coleman, a Richmond-based accounting firm, where she oversaw the day-to-day operations and served on the senior leadership team.

Reynolds earned her bachelor’s in business administration from the College of William and Mary and her master’s in finance from Virginia Commonwealth University. A board member of the William and Mary Richmond Business Alliance, Reynolds also assists with ChildSavers, LINC, Massey Cancer Center and Impact 100.

Former CEOs
NameTerm
Dr. Jennifer Sager Gentry Jan 2005 - Oct 2013
Staff
Full Time Staff 1
Part Time Staff 1
Plans
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 6
Date Strategic Plan Adopted Nov 2009
Management Succession Plan? Under Development
Organization Policy and Procedures Yes
Nondiscrimination Policy Yes
Whistleblower Policy Yes
Document Destruction Policy No
Directors and Officers Insurance Policy Yes
Affiliations
AffiliationYear
Community Foundations of Virginia2009
Awards
Awards
Award/RecognitionOrganizationYear
Gold Award - Great ExpectationsCouncil for Advancement and Support of Education2010
Award of Excellence - Virginia Education WizardPublic Relations Society of America - Richmond2010
Award of Merit - 2009 Commonwealth Legacy Awards LuncheonPublic Relations Society of America - Richmond2010
Award of Merit - Great ExpectationsPublic Relations Society of America - Richmond2010
Gold AwardCommonwealth of Virginia Campaign2010
Programs
Description
This innovative, nationally recognized program helps Virginia’s foster youth earn the postsecondary credentials they need to achieve an independent and successful life. Great Expectations is offered at 17 of Virginia’s Community Colleges.
Population Served Poor,Economically Disadvantaged,Indigent
Description
Scholarship programs, including the Commonwealth Legacy Scholarship Program and the Valley Proteins Fellows, provide opportunities for outstanding community college students and prospective community college students who excel academically and demonstrate leadership potential to achieve their goals.
Description The Virginia Foundation for Community College Education has launched the Rural Virginia Horseshoe Initiative to tackle the challenge of preparing people in the state’s most rural crescent for the jobs of the future.
CEO/ED/Board Comments

High school is no longer the finish line for an individual seeking an independent and fulfilling life in the 21st century.  That evolutionary and bold statement was the heart of the first-ever report of the Governor’s P-16 Council in 2006. Since then, surveys and studies have only affirmed the sentiment’s validity.

Two out of every three jobs available in Virginia will require more than a high school education by the year 2018, according to a recently released national report.

Knowledge is the currency of our time, and a community’s ability to cultivate its talent will determine its overall success.

Virginia's Community Colleges were created more than 40 years ago to address Virginia's unmet needs in higher education and workforce training.  That pursuit continues with Achieve 2015, a six-year strategic plan for Virginia's Community Colleges.
 
Achieve 2015 is focused on the needs of the communities we serve, not the needs of our community colleges.

Community input served as the genesis for this strategic plan. Formal and informal conversations across Virginia with students, business and community leaders and elected officials guided the plan's creation. The ultimate success of the plan will be judged with Virginia's Community Colleges report back to those communities with the results of its five measurable goals:  Access, Affordability, Student Success, Workforce and Resources.

As more people become aware of the value their community college delivers to their community, they are increasingly willing to partner with the colleges and bring resources to the table that will enhance the college's impact. That was the case over the past six years as Virginia's Community Colleges doubled the collective holdings of their foundations and awarded millions of dollars in scholarships and other opportunities. Unpredictable state budget fluctuations are forcing our colleges to expand their base of resources and create more relationships that deliver winning results for those who depend on the opportunities our colleges create.

Fiscal Year
Projected Revenue $5,000,000.00
Projected Expenses $3,928,000.00
Endowment Value $2,956,000.00
Spending Policy N/A
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 Year201520142013
Foundation and
Corporation Contributions
------
Government Contributions$390,000$0$0
Federal------
State------
Local------
Unspecified$390,000----
Individual Contributions$1,613,490$3,254,651$1,202,673
------
$576,330$775,271$590,984
Investment Income, Net of Losses$36,004$922,606$302,761
Membership Dues------
Special Events------
Revenue In-Kind$318,938$392,667$9,067
Other$4,001----
Expense Allocation
Fiscal Year201520142013
Program Expense$1,896,170$1,655,240$1,481,494
Administration Expense$380,355$251,567$122,694
Fundraising Expense$419,614$369,835$44,610
Payments to Affiliates------
Total Revenue/Total Expenses1.092.351.28
Program Expense/Total Expenses70%73%90%
Fundraising Expense/Contributed Revenue21%11%4%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$9,846,766$9,546,800$6,300,305
Current Assets$1,538,419$1,417,412$1,027,229
Long-Term Liabilities$40,492----
Current Liabilities$307,227$290,377$112,435
Total Net Assets$9,499,047$9,256,423$6,187,870
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities5.014.889.14
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView