Foundations
What are the VCU-affiliated Foundations? VCU has four philanthropic affiliated foundations. The College of Engineering Foundation, the School of Business Foundation, and the VCU Foundation, are affiliated with support of the Monroe Park Campus (MPC). The Medical College of Virginia Foundation is affiliated with support of the Medical Campus (MCV).
These entities are independent 501(c) (3) organizations with their own boards and bylaws. They accept and invest gifts in support of the university, and the university receives annual support from each of the philanthropic foundations based on their spending policy.
True or false? Funds gifted by donors can be spent any way the university wants.
FALSE — Gifts given to the university are often stipulated with specific restrictions or requirements for their use or disposition by the donor.
While some gifts may be restricted or unrestricted in their use, oftentimes a donation to the university is made in specific support of an existing program, provided to establish an endowment or a scholarship, or to provide direct support to research. As such, the funds may not be used in any other way than how the donating party outlined.
View full data for the Foundation Support History FY21-FY23
| Restricted | Unrestricted and Board designated | Total | |
|---|---|---|---|
| FY21 | 35M (79%) | 9.3M (21%) | 44.3M |
| FY22 | 29.9M (73%) | 11.3M (27%) | 41.2M |
| FY23 | 35.3M (77%) | 10.5M (23%) | 45.8M |
FY23 Foundation Support By Restriction Type
Restricted
Unrestricted
View full data for the FY23 Foundation Support by Restriction Type
| Restricted | Unrestricted | |
|---|---|---|
| Support Services | $10.4M (29.5%) | $5.5M (52.4%) |
| Auxiliary | $1.0M (2.8%) | $1.7M (16.2%) |
| Instruction | $4.5M (12.7%) | $1.0M (9.5%) |
| Public Service | $1.6M (4.5%) | $0.3M (2.9%) |
| Research | $9.0M (25.5%) | $1.7M (16.2%) |
| Scholarships | $8.8M (24.9%) | $0.3M (2.9%) |
| Total | $35.3M | $10.5M |
FY23 Foundation Support By Spending Type
MPC Foundations
*Primarily Athletics
MCV Foundation
View full data for FY23 Foundation Support By Spending Type
| FY23 Foundation Support By Spending Type | |||||||
| Support Services | Instruction | Public Service | Auxiliary (primarily Athletics) | Research | Scholarships | Total | |
| MPC Foundations | $7.7M (40.7%) | $1.0M (5.3%) | $1.7M (9%) | $2.8M (14.8%) | $2.0M (10.6%) | $3.7M (19.6%) | $18.9M |
| MCV Foundation | $8.0M (29.8%) | $4.5M (16.7%) | $0.2M (0.8%) | - | $8.7M (32.3%) | $5.5M (20.4%) | $26.9M |