Nonprofit · EIN 54-0517188
VIRGINIA STUDENT AID FOUNDATION
Also known as DBA VIRGINIA ATHLETIC FOUNDATION
Tax-exempt · CHARLOTTESVLE, VA 22904
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $50,256,478 | $44,993,376 | $5,263,102 | $184,583,130 | $3,176,527 | $181,406,603 |
| December 31, 2023 | 990 | $59,716,708 | $48,928,927 | $10,787,781 | $169,536,214 | $2,499,188 | $167,037,026 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $47,385,256
- Program service revenue
- $1,995,333
- Investment income
- $706,178
- Royalties
- $136,605
- Net gain from sales of assets
- $39,719
- Net income from fundraising events
- $33,106
- Other revenue
- $169,711
Expenses
- Grants and similar amounts paid
- $38,651,681
- Compensation of officers, directors and key employees
- $974,380
- Other salaries and wages
- $1,919,857
- Salaries, compensation and benefits (total)
- $3,550,400
- Professional fundraising fees
- $0
- Legal fees
- $108,169
- Accounting fees
- $46,000
- Travel
- $242,132
- Depreciation
- $11,393
- Program services (functional)
- $39,768,829
- Management and general (functional)
- $2,259,068
- Fundraising (functional)
- $2,965,479
Balance sheet and other
- Total assets, start of year
- $169,536,214
- Total assets, end of year
- $184,583,130
- Total liabilities, end of year
- $3,176,527
- Net assets, end of year
- $181,406,603
- Land, buildings and equipment
- $15,823
- Net assets without donor restrictions
- $15,781,388
- Net assets with donor restrictions
- $165,625,215
- Gross receipts
- $53,960,139
- Employees
- 34
- Volunteers
- 26
- Year formed
- 1949
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KEVIN J MILLER | EXEC DIRECTOR, SEC/TREAS Trustee or director, Officer | 40 | $493,617 | $51,703 |
| MICHAEL T KERSEY | CHIEF OPERATING OFFICER Key employee | 40 | $213,194 | $43,893 |
| DONNA G MAHAN | CHIEF FINANCIAL OFFICER Officer | 40 | $180,839 | $41,089 |
| HEATHER L TROUDT | SENIOR MAJOR GIFTS OFFICER Highest-paid employee | 40 | $175,202 | $25,420 |
| DREW OSSAKOW | SENIOR MAJOR GIFTS OFFICER Highest-paid employee | 40 | $144,823 | $21,501 |
| RYAN P WEIGAND | SENIOR DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $128,948 | $27,118 |
| JESSIC F ARMISTEAD | SENIOR DIRECTOR OF DONOR EXPIRIENCES Highest-paid employee | 40 | $118,030 | $30,045 |
| NICOLE DEUEL | SENIOR DIRECTOR OF MARKETING AND COMMUNICATIONS Highest-paid employee | 40 | $110,849 | $29,823 |
| RACHEL W SHERIDAN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MARVIN P BUSH | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MIA MOONEY BASS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EDMUND N DURDEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| W HEYWOOD FRALIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MICHAEL S GEISMAR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARVIN W GILLIAM JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
20 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RALEIGH ANNE GRAY | TRUSTEE Trustee or director | 1 | $0 |
| KATHERINE L HEILPERN MD | TRUSTEE Trustee or director | 1 | $0 |
| YUSEF D JACKSON | TRUSTEE Trustee or director | 1 | $0 |
| LAUREN LACY | TRUSTEE Trustee or director | 1 | $0 |
| MARK M LUELLEN | TRUSTEE Trustee or director | 1 | $0 |
| RICHARD L BOOTH | TRUSTEE Trustee or director | 1 | $0 |
| VALERIE CAMILLO | TRUSTEE Trustee or director | 1 | $0 |
| DOUG DUENKEL | TRUSTEE Trustee or director | 1 | $0 |
| FRANKLIN S EDMONDS | TRUSTEE Trustee or director | 1 | $0 |
| HERMAN MOORE | TRUSTEE Trustee or director | 1 | $0 |
| TIM NAUGHTON | TRUSTEE Trustee or director | 1 | $0 |
| JULIANA S O'REILLY | TRUSTEE Trustee or director | 1 | $0 |
| CRAIG PACKER | TRUSTEE Trustee or director | 1 | $0 |
| BARRY L PARKHILL | TRUSTEE Trustee or director | 1 | $0 |
| ANDREW PESKIN | TRUSTEE Trustee or director | 1 | $0 |
| JILL ROYSTER | TRUSTEE Trustee or director | 1 | $0 |
| ANNE CARTER SMITH | TRUSTEE Trustee or director | 1 | $0 |
| A WELLFORD TABOR | TRUSTEE Trustee or director | 1 | $0 |
| ASHLEY WIDGER | TRUSTEE Trustee or director | 1 | $0 |
| CARLA WILLIAMS | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DIRK P KATSTRA | EXEC DIRECTOR, SEC/TREAS Trustee or director, Officer | 40 | $282,203 | $11,740 |
| MICHAEL T KERSEY | CHIEF OPERATING OFFICER Key employee | 40 | $207,510 | $41,400 |
| DONNA G MAHAN | CHIEF FINANCIAL OFFICER Officer | 40 | $175,173 | $38,777 |
| HEATHER L TROUDT | SENIOR MAJOR GIFTS OFFICER Highest-paid employee | 40 | $177,778 | $19,838 |
| KEVIN J MILLER | EXEC DIRECTOR, SEC/TREAS Trustee or director, Officer | 40 | $163,886 | $10,015 |
| RYAN P WEIGAND | SENIOR DIRECTOR OF DEVELOP Highest-paid employee | 40 | $127,624 | $31,274 |
| JEFFREY B FORD | ASSOCIATE DIRECTOR Highest-paid employee | 40 | $140,215 | $18,285 |
| ROBERT G SCHMALZ | ASSOCIATE DIRECTOR Highest-paid employee | 40 | $139,605 | $17,125 |
| DREW M OSSAKOW | SENIOR MAJOR GIFTS OFFICER Highest-paid employee | 40 | $129,941 | $22,034 |
| FRANKLIN S EDMONDS JR | PRESIDENT/TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| RACHEL W SHERIDAN | VICE PRESIDENT / TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| JULIANA SCHULTE O'REILLY | PAST PRESIDENT/TRUSTEE Trustee or director | 1 | $0 | $0 |
| MIA MOONEY BASS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHARLES R BIRDSONG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARVIN P BUSH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| W HEYWOOD FRALIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MICHAEL S GEISMAR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARVIN W GILLIAM JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RALEIGH ANNE GRAY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHRISTOPHER A HARRISON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| YUSEF D JACKSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARK M LUELLEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| T DOUGLAS MCQUADE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| HERMAN MOORE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CRAIG W PACKER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BARRY L PARKHILL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ANDREW S PESKIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JILL ROYSTER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| EDMUND N DURDEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| A WELLFORD TABOR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CARLA G WILLIAMS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LAUREN LACY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KATHERINE L HEILPERN MD | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 400833, CHARLOTTESVLE, VA 22904-4833
- In care of
- % DONNA MAHAN
- Principal officer (990 for 2024)
- KYLE RAE, PO BOX 400833, CHARLOTTESVILLE, VA 229044833
- Signed the 990
- KYLE RAE, CHIEF FINANCIAL OFFICER
- Phone
- (434) 982-5555
- Return prepared by
- HANTZMON WIEBEL LLP
Mission
THE VIRGINIA ATHLETICS FOUNDATION, THROUGH ITS FUND-RAISING EFFORTS, STRIVES TO SUPPORT A PREEMINENT INTERCOLLEGIATE ATHLETICS PROGRAM AT THE UNIVERSITY OF VIRGINIA BY PROVIDING STUDENT-ATHLETES THEOPPORTUNITY TO ACHIEVE ACADEMIC AND ATHLETIC EXCELLENCE.
Program accomplishments
- THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE FUNDING FOR SCHOLARSHIPS FOR STUDENT ATHLETES. IN 2024, 10,152 DONORS TO THE FOUNDATION, INCLUDING FORMER STUDENT-ATHLETES,PARENTS, ALUMNI, FANS, AND BUSINESSES WHO RECOGNIZE THE VALUE OF THE INTERCOLLEGIATE ATHLETICS EXPERIENCE AT THE UNIVERSITY OF VIRGINIA, ENTHUSIASTICALLY PROVIDE SUPPORT IN A VARIETY OF WAYS. THROUGH ITSFUND-RAISING EFFORTS, THE FOUNDATION PROVIDES THE MAXIMUM FUNDING FOR ALL 316.6 SCHOLARSHIPS ALLOWED FOR 25 OF THE 27 TEAMS SANCTIONED BY THE NCAA AT THE UNIVERSITY. SCHOLARSHIPS FOR THE MEN'S AND WOMEN'S SQUASH TEAMS ARE FUNDED BY A UNIV ENDOWMENT PROVIDED BY A GENEROUS DONOR. TODAY, THERE ARE APPROX 750 TUDENT-ATHLETES PARTICIPATING IN 27 INTERCOLLEGIATE PROGRAMS AT THE UNIVERSITY.Expenses $22,596,239 · grants $22,549,992
- THE FOUNDATION RAISES FUNDS ON BEHALF OF THE UNIVERSITY OF VIRGINIA TO FINANCE THE RENOVATION OF EXISTING ATHLETICS FACILITIES AND THE CONSTRUCTION OF NEW ATHLETICS FACILITIES AS IDENTIFIED AND APPROVED BY THE UNIVERSITY. THE FOUNDATION ALSO PROVIDES FUNDING TO ENHANCE THE OPERATIONAL BUDGETS OF VARIOUS SPORTS AT THE UNIVERSITY. THESE COSTS ARE DETERMINED IN COORDINATION WITH THE UNIVERSITY ATHLETICS DEPARTMENT IN IDENTIFYING STRATEGIC PRIORITIES. ADDITIONALLY, DONATIONS MADE TO THE FRIENDS OF PROGRAM ARE DESIGNATED BY DONORS TO SPECIFIC SPORTS AMONG THE 14 WOMEN'S AND 13 MEN'S VARSITY SPORTS AT THE UNIVERSITY.Expenses $16,307,429 · grants $16,101,689
- TTHE FOUNDATION PROVIDES INFORMATIONAL SERVICES TO ITS MEMBERS AND TO THE GENERAL PUBLIC. IN ADDITION,IT PROVIDES ANCILLARY SUPPORT TO THE ATHLETICS PROGRAMS OF THE UNIVERSITY OF VIRGINIA.Expenses $865,161 · revenue $746,898
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 54-0517188
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1951
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B820)
- Assets (IRS master file)
- $184,583,130
- Income (IRS master file)
- $53,960,139
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $50,256,478 | $44,993,376 | $184,583,130 | XML |
| 990 | December 2023 | $59,716,708 | $48,928,927 | $169,536,214 | XML |
| 990 | December 2022 | $45,190,995 | $45,531,068 | $154,972,680 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-0517188).
Questions about VIRGINIA STUDENT AID FOUNDATION
- What is the EIN of VIRGINIA STUDENT AID FOUNDATION?
- The employer identification number (EIN) of VIRGINIA STUDENT AID FOUNDATION is 54-0517188.
- Is VIRGINIA STUDENT AID FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1951.
- Are donations to VIRGINIA STUDENT AID FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VIRGINIA STUDENT AID FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VIRGINIA STUDENT AID FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VIRGINIA STUDENT AID FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of VIRGINIA STUDENT AID FOUNDATION?
- The 990 for the year ended December 31, 2024 names KYLE RAE.
- Who are the officers and directors of VIRGINIA STUDENT AID FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 35 people; 8 received compensation from the organization, the highest $493,617 (KEVIN J MILLER, EXEC DIRECTOR, SEC/TREAS).
- How much revenue does VIRGINIA STUDENT AID FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $50,256,478, expenses of $44,993,376 and total assets of $184,583,130 at year end.
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