Virginia State University Foundation
Storum Hall
P.O. Box 9027
Petersburg VA 23806
Mission Statement
The purpose of the Foundation is to support the mission of Virginia State University by receiving, managing and distributing donations and contributions that aid in the enhancement and growth of the University.
 
Virginia State University, a public, comprehensive 1890 Land Grant institution and historically black college/university, is committed to the preparation of a diverse population of men and women through the advancement of academic programs and services that integrate instruction, research, extension, and outreach. The University endeavors to meet the educational needs of students, graduating lifelong learners who are well equipped to serve their communities as informed citizens, globally competitive leaders, and highly effective, ethical professionals.
Web and Social Media
Leadership
CEO/Executive Director Robert L. Turner Jr, J.D.
Board Chair Beverly Everson Jones
Board Chair Company Affiliation Fannie Mae
Contact Information
Address Storum Hall
P.O. Box 9027
Petersburg, VA 23806
Telephone 804 524-5215
Fax 804 524-1245
E-mail bblanks@vsu.edu
History and Background
Year of Incorporation 1968
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
 
 
Projected Revenue $2,669,000.00
Projected Expenses $1,360,000.00
Additional Documents
Virginia Acts of Assembly- VSU2015View
VSU Board of Visitors2015View
VSU Foundation Board of Trustees2015View
Annual Report on Gifts and Contributions2014View
Statements
Mission
The purpose of the Foundation is to support the mission of Virginia State University by receiving, managing and distributing donations and contributions that aid in the enhancement and growth of the University.
 
Virginia State University, a public, comprehensive 1890 Land Grant institution and historically black college/university, is committed to the preparation of a diverse population of men and women through the advancement of academic programs and services that integrate instruction, research, extension, and outreach. The University endeavors to meet the educational needs of students, graduating lifelong learners who are well equipped to serve their communities as informed citizens, globally competitive leaders, and highly effective, ethical professionals.
Impact
  • HBCU Digest recently named the Virginia State University (VSU) Department of Art & Design the Best Fine Arts Program at an HBCU for 2015-16. The honor is the second major recognition for the department in the past six months. In May, Animation Career Review ranked VSU’s animation program 46th in the nation among public institutions. VSU’s program was the nation’s highest ranked HBCU and one of only two Virginia universities, the other being Virginia Tech, to be ranked.

 

  • In an article from HBCU Lifestyle, noted researcher Dr. Larry J. Walker, a former Congressional Fellow with the Congressional Black Caucus Foundation and Legislative Director for former Congressman Major R. Owens, ranked Virginia State University (VSU) fifth among the nation's 104 Historically Black Colleges and Universities (HBCU) in a ranking of the top producers of teachers, based on data from the National Center for Education Statistics (NCES).

 

  • VSU broke ground in December 2013 on its $84 million Multipurpose Center, a beacon of cooperation and unity. The new facility is expected to open in Fall 2015.

 

  • The Huffington Post and HBCU Digest cited VSU as one of five HBCUs that are “Saving the World Through Sustainability.” VSU was noted for its Cooperative Extension program, which, the groups said “promotes sustainable agricultural practices, and stronger local economies in and around Petersburg, VA. Assisting independent farmers…VSU helps generations of current and potential farmers grow produce and business savvy through instruction on best practices and exposure to new technologies in aquaponics and alternative crops.

 

  • In October 2014, the U.S. Department of Labor awarded VSU a $3.25 million grant to help develop a training program for the wireless workforce of the future, focused on educating veterans, displaced workers and others for careers in building and maintaining America’s wireless networks.

 

Needs
The University has many needs ranging from unrestricted scholarship to programmatic support and we are sincerely delighted about your interest in supporting Virginia State University’s legacy. Every dollar you donate to the Virginia State University Foundation goes towards advancing the University’s mission and strategic goals. A gift of any size makes a difference and is vital to the prosperity of the University. We thank you in advance for your generosity and lifetime support!
Background The Virginia State College Foundation was incorporated in the Commonwealth of Virginia on March 4, 1968, and granted tax exemption under Section 501(c) 3 status of the Internal Revenue code on June 1, 1968. On September 2, 1980, the name was officially changed to Virginia State University Foundation.
Areas of Service
Areas Served
Area
Statewide
National
Board Chair
Board Chair Beverly Everson Jones
Company Affiliation Fannie Mae
Term Jan 2017 to Jan 2019
Email beverly@everson-jones.com
Board of Directors
Board Members
NameAffiliation
Makola Abdullah VSU
William E. Bailey Unknown
Harrison Bonner IIIAltria
Frasier W Brickhouse II, MBA, CPATredegar Corporation
Wilbert Briggs Community Leader
Charles Brockett Retired
Hank Coleman SunTrust
Kevin Davenport VSU
Beverly Everson-Jones Fannie Mae
Brenda Stith Finch Verizon
Paul Garner Community Volunteer
Willis Gay MBARetired
Dante Jackson Ameriprise Financial Services, Inc.
Franklin Johnson Jr.VSUAA
Frankie Jones IBM-Retired
Vandy Jones Unknown
Valarie Abbott Jones Esq.Unknown
Nardos King Community Volunteer
Reshunda Mahone VSU
George Otey Retired
Samuel R Rhue Sr., MBACIGNA Insurance
Xavier Richardson VSU
Connie W. Smith Unknown
Emmett E. Smith Unknown
Board Demographics - Ethnicity
African American/Black 23
Asian American/Pacific Islander 0
Caucasian 0
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 18
Female 5
Governance
Board Term Lengths 3
Board Term Limits 3
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? No
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 4
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Robert L. Turner Jr, J.D.
Plans
Organization has a Strategic Plan? Yes
Programs
Description
The Foundation provides scholarship support to students who are enrolled and matriculating at VSU.
Fiscal Year
Projected Revenue $2,669,000.00
Projected Expenses $1,360,000.00
Endowment Value $13,530,012.00
Spending Policy Percentage
Percentage (if selected) 4.75
Form 990s
IRS Letter of Exemption
Detailed Financials
Expense Allocation
Fiscal Year201520142013
Program Expense$1,744,221$796,428$718,254
Administration Expense$263,761$231,851$287,055
Fundraising Expense$0$130,218--
Payments to Affiliates------
Total Revenue/Total Expenses1.012.942.45
Program Expense/Total Expenses87%69%71%
Fundraising Expense/Contributed Revenue0%9%0%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$15,156,726$15,135,686$12,834,525
Current Assets$2,347,927$2,352,750$1,991,595
Long-Term Liabilities$0----
Current Liabilities$99,457$104,995$57,099
Total Net Assets$15,057,269$15,030,691$12,777,426
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities23.6122.4134.88
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Comments
Foundation Comments
  • Form 990 and audit prepared by Dixon , Hughes, Goodman, LLP.
  • Financial analysis performed with audit.