Virginia Institute of Marine Science Foundation
1375 Greate Road
P.O. Box 1346
Gloucester Point VA 23062
Mission Statement The Virginia Institute of Marine Science Foundation solicits private gifts for the Virginia Institute of Marine Science and administers and manages these funds to support VIMS mission of research, education and advisory service.  The Foundation is a vehicle to support all programs of the Virginia Institute of Marine Science (VIMS).  Founded in 1940, the Institute is the nation's largest marine science center focused on coastal and estuarine science.  In 1979 it became part of the College of William & Mary.  It carries out a three-part mission of research, education and advisory service.  It has three campuses-one in Gloucester Point, one in Wachapreague on the Eastern Shore, and the Kauffman Aquaculture Center near the Rappahannock River.  Its educational mission is carried out through the School of Marine Science and offers M.S and Ph.D degrees. The Dean and Director of VIMS is Dr. John T. Wells.
Leadership
CEO/Executive Director Ms. Amy E. Fisher, Executive Director
Board Chair Mr. Stephen A. Johnsen
Board Chair Company Affiliation Leadership Volunteer
Contact Information
Address 1375 Greate Road
P.O. Box 1346
Gloucester Point, VA 23062
Telephone 804 684-7099
Fax 804 684-7856
E-mail aefisher@vims.edu
History and Background
Year of Incorporation 2000
Financial Summary
 
 
Projected Revenue $842,189.00
Projected Expenses $1,196,641.00
Additional Documents
VIMS Brochure2011View
Statements
Mission The Virginia Institute of Marine Science Foundation solicits private gifts for the Virginia Institute of Marine Science and administers and manages these funds to support VIMS mission of research, education and advisory service.  The Foundation is a vehicle to support all programs of the Virginia Institute of Marine Science (VIMS).  Founded in 1940, the Institute is the nation's largest marine science center focused on coastal and estuarine science.  In 1979 it became part of the College of William & Mary.  It carries out a three-part mission of research, education and advisory service.  It has three campuses-one in Gloucester Point, one in Wachapreague on the Eastern Shore, and the Kauffman Aquaculture Center near the Rappahannock River.  Its educational mission is carried out through the School of Marine Science and offers M.S and Ph.D degrees. The Dean and Director of VIMS is Dr. John T. Wells.
Impact
The VIMS Foundation supports the state mandated three-part mission of VIMS: research, education and advisory service.  The Foundation holds both endowed funds and expendable funds.  While still a young Foundation, in FY 2015 the VIMS Foundation was able to support VIMS programs with over $885,710.  Support areas included:  grants from 43 endowment funds to support 35 students in the School of Marine Science; funding from donors to purchase scientific equipment, a priority need to maintain the quality of the research; and funding for 5 summer camps at VIMS, focused on the Chesapeake Bay and the environment, for over 100 local children. 
Needs

The VIMS Foundation, with assets of $13.8 million as of December 31, 2015, supports the research and graduate education programs of the Virginia Institute of Marine Science, a part of the College of William & Mary. The annual budget of the Institute is $39 million. Most pressing needs for the VIMS Foundation are: Graduate student fellowships: $2,000,0000; Professorship endowments: $7,000,000; endowments for purchase of scientific instrumentation: $4,000,000; expendable funds and endowment funds for program support of work such as water quality in Chesapeake Bay; research on oysters and blue crabs; research on coastal management: $2,000,000; expendable and endowment funds for support of programs for children at the GK-12 level $2,000,000. Capital needs include $5,000,000 for a Campus Center and Conference facility for state, national and international meetings, and $1,000,000 for labs and scientific equipment for new buildings at the VIMS Eastern Shore Lab. 

Background
The VIMS Foundation was incorporated in 2000 with the mission of supporting the work of the Virginia Institute of Marine Science and its School of Marine Science, a part of The College of William & Mary.  The Institute itself was founded in 1940 and became a part of the College in 1979.  The Institute is the nation's largest marine science center focused on coastal and estuarine science.  VIMS carries out a three-part mission of research, advisory service and education. Dr. John T. Wells is the Dean and Director of VIMS.  It has three campuses-the main one at Gloucester Point, Virginia; a research and education field station in Wachapreague on Virginia's Eastern Shore; and the Kauffman Aquaculture Center near the Rappahannock River.  The School of Marine Science offers M.S. and Ph.D degrees.  VIMS faculty and students lead efforts to understand the coastal environment and to provide independent scientific information that informs policy solutions locally, nationally and internationally.  More than half of the world's population lives in coastal zones and 90% of the world's fish catch comes from coastal and estuarine systems.  The problems affecting these systems today are significant and intensify as coastal populations grow.  Society's ability to deal with these problems depends on the actvity of highly trained scientists, managers and policy makers.  VIMS plays a leading role in identifying and addressing the problems of the Chesapeake Bay by providing sound science on which to base policies related to the health of the Bay and marine resources. 
CEO Statement
The VIMS Foundation is governed by an independent Board of Directors.  For its investable funds it participates in the William and Mary Investment Trust (WAMIT), which is a vehicle available to foundations affiliated with the College of William & Mary (such as foundations supporting the Law School, Business School and VIMS).  Under direction of the foundation board, the VIMS Foundation is staffed by employees of VIMS, including the Director of Development at VIMS who serves as Executive Director and the Executive Budget Adminstrator who serves as CFO of the Foundation in the Office of Finance at VIMS.  Like all higher education institutions in the Commonwealth, VIMS needs to build private support and endowments for support of its students, faculty, and research programs in order to maintain a cutting-edge scientific program into the future.  The VIMS Foundation was created to do this. 
Board Chair Statement
As a leading research and education institute with national and global reach, VIMS is unique among marine laboratories in the United States in its special advisory role to the Commonwealth of Virginia.  VIMS advises state and local governments on all matters related to our marine resources including, but not limited to, our fisheries, coastal resources mnanagement, and water quality.  Its graduates go on to careers in academia; federal, state and local government agencies; and the private sector including industry and NGOs. There is no organization doing more to provide the science behind saving the Bay, to protect all our marine resources, and to develop our marine-related industries, including our fisheries, than VIMS.
Areas of Service
Areas Served
Area
Statewide
National
International
Board Chair
Board Chair Mr. Stephen A. Johnsen
Company Affiliation Leadership Volunteer
Term July 2016 to June 2017
Email lcphip@vims.edu
Board CoChair
Board CoChair Mr. A. Travis Massey
Company Affiliation Leadership Volunteer
Term July 2016 to June 2017
Email lcphip@vims.edu
Board of Directors
Board Members
NameAffiliation
Elizabeth L. Anderson Ph.D.Exponent, Inc.
Ms. Glenda C. Booth Leadership Volunteer
The Honorable Morris D. Busby Leadership Volunteer
John P. Causey Jr., Esq.Leadership Vounteer
Mr. Guy Chapman Leadership Volunteer
Ms. Phyllis Cothran Leadership Volunteer
Clifford A. Cutchins, IV Esq.McGuireWoods LLP
Ms. Teresa DiMarco Leadership Volunteer
Mr. Adrian G. Duplantier Jr.Leadership Volunteer
Ms. Michela English Fight For Children Organization
Ms. Pamela F. Faggert Dominion/Virginia Power
Mr. William A. Galanko Norfolk Southern
Mr. Henry H. George Investment Management of Virginia
Ms. Meril Gerstenmaier Stewart, Inc.
Mr. C. Christian Hall IIIBluewater Yacht Sales
Mr. Stephen A. Johnsen Leadership Volunteer
Mrs. Roberta Kellam Leadership Volunteer
Mr. R. Peter Lalor Leadership Volunteer
Mr. A. Travis Massey Community Volunteer
Ms. Jeanette McKittrick Leadership Volunteer
David N. Meeker Esq.Ferguson Enterprises
The Honorable Harvey B. Morgan Leadership Volunteer
Mr. Charles J. Natale Jr.ESS Group, Inc.
Mr. S. Marshall Orr Leadership Volunteer
Mr. Carroll W. Owens IIILeadership Volunteer
Mr. William A. Pruitt Leadership Volunteer
Mr. James E. Rogers SCI Investors, Inc.
R. Gordon Smith Esq.Leadership Volunteer
William J. Strickland Esq.McGuire Woods, LLP
Mr. Randal C. Teague Vorys, Inc.
Mr. H. Stetson Tinkham Leadership Volunteer
Mr. Ronald L. West Leadership Volunteer
Anne P. Whittemore Esq.McGuire Woods, LLP
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 33
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 23
Female 10
Unspecified 0
Governance
Board Term Lengths 3
Board Term Limits 3
Board Meeting Attendance % 87
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Percentage Making In-Kind Contributions 0
Number of Full Board Meetings Annually 3
Standing Committees
Executive
Board Governance
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Finance
Community Outreach / Community Relations
By-laws
Legislative
Program / Program Planning
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Ms. Amy E. Fisher, Executive Director
Experience
The legal CEO is the President of the Foundation, currently Stephen A. Johnsen, former Executive with Brown & Brown Insurance. Executive Director, Amy E. Fisher, has a background in non-profits with the National Programs Director at the Center for Environmental Citizenship.  She also worked at the Pew Charitable Trust's Youth Vote Coalition as the Development and Programs Director and as a Development Officer at St. Francis House in Boston.  Ms. Fisher earned her BS in Biology and Political Science from Bates College in Lewistown, Maine and she earned her MBA with a concentration in Finance and Public/Nonprofit Management from Boston University.
Staff
Full Time Staff 0
Part Time Staff 5
Volunteers 33
Contractors 0
Plans
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 5
Date Strategic Plan Adopted June 2015
Organization Policy and Procedures Yes
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
Programs
Description
VIMS marine science and graduate degree programs include biological, fisheries, environmental and aquatic health, and physical sciences. The Institute also provides expert science-based information and assistance to marine industry sectors and supports programs to educate the public, K-12 students and private industry through its Marine Advisory Services/Virginia Sea Grant Programs; the Center for Coastal Resources Management (CCRM) that supports the state and nation to enable informed management of coastal resources in Virginia and the Mid-Atlantic region through wetlands advisory, watershed and coastal inventory; and the Chesapeake Bay National Estuarine Reserve in Virginia (CBNERRVA), in partnership with NOAA, preserves and manages a network of reserves that represent the diversity of coastal ecosystems; Aquaculture Genetics and Breeding Technology Center (ABC) operates an experimental shellfish hatchery for genetics and breeding studies and development of disease resistant strains of oysters.  ABC contributes to the development of the aquaculture industry.
Fiscal Year
Projected Revenue $842,189.00
Projected Expenses $1,196,641.00
Endowment Value $13,798,248.00
Spending Policy Percentage
Percentage (if selected) 4.25
Form 990s
IRS Letter of Exemption
Detailed Financials
Expense Allocation
Fiscal Year201520142013
Program Expense$1,027,984$660,284$675,770
Administration Expense$177,400$76,196$68,519
Fundraising Expense$38,679$33,324$30,553
Payments to Affiliates------
Total Revenue/Total Expenses1.293.572.69
Program Expense/Total Expenses83%86%87%
Fundraising Expense/Contributed Revenue4%3%3%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$13,056,727$12,706,154$10,719,173
Current Assets$984,369$1,237,380$849,387
Long-Term Liabilities$0----
Current Liabilities$16,999$19,940$11,260
Total Net Assets$13,048,728$12,686,214$10,707,913
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities57.9162.0675.43
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? Anticipated In 3 Years
Capital Campaign Anticipated in Next 5 Years? Yes
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Comments
Foundation Comments
  • Financial information provided by audit
  • Form 990 and audit prepared by McPhillips, Roberts & Dean, PLC