Medical College of Virginia Foundation

Transcription

1 Medical College of Virginia Foundation General Information Contact Information Nonprofit Medical College of Virginia Foundation Address P.O. Box Richmond, VA Phone Fax Web Site Facebook facebook.com/ At A Glance Year of Incorporation 1949 Organization's type of tax exempt status Public Supported Charity 1

2 Statements & Search Criteria Mission The mission of the Medical College of Virginia Foundation is to inspire and steward philanthropy throughout the MCV Campus of Virginia Commonwealth University. Background Since 1949, the Foundation has worked to achieve a singular objective: support educational, clinical and research excellence on the MCV Campus. The Foundation forms a critical link between the community and the university, connecting the passions and priorities of alumni and friends to the schools and centers that comprise our campus partners. As the MCV Campus has grown and changed, so has the scope of the Foundation s responsibilities. Today, we pursue our mission to inspire and steward philanthropy throughout the MCV Campus by: Partnering with and investing in school-based and center-based development programs to meet their strategic objectives Maintaining strong relationships with benefactors and ensuring that each donor s wishes are honored Fostering a prudent investment program to increase the value of endowment gifts Providing financial and accounting services to those receiving private funds Helping MCV campus partners respond to opportunities with effectiveness and ease Publicizing the impact of philanthropy of the MCV Campus to recognize its benefactors and inspire others to give Impact Past Year Accomplishments 1. Received over $30 million in gifts and pledges 2. Recruited 8 new members for the Board of Trustees 3. Provided over $25 million in support to the schools and units of the MCV Campus Current Year Goals 1. Receive at least $24 million in gifts and pledges 2. Recruit Executive Director of Development and Planned Giving Officer 3. Provide at least $25 million in support to the schools and units of the MCV Campus Needs The MCV Foundation supports the fundraising priorities of its seven major campus partners at VCU s Medical Center and their many units School of Allied Health Professions, School of Dentistry, School of Medicine, School of Nursing, School of Pharmacy, Massey Cancer Center, and the MCV Hospitals. Now more than ever, private support is critical for advancing the Medical Center s mission of teaching, research, and clinical services for greater Richmond and beyond. Through a committed corps of volunteer leaders and dedicated staff across the campus, the MCV Foundation strives to be a catalytic partner for strategic fundraising. Current priorities include the following, with the goal of securing over $50 Million this year: Areas Of Service Areas Served 2

3 Areas National Metro Richmond Tri-cities Region Richmond, City Statewide Northern Neck Chesterfield County Goochland County Hanover County Henrico County Ashland Chester Charles City County Louisa County New Kent County Service Categories Universities 3

4 Programs Programs The School of Medicine Description For the better part of two centuries, the mission of the VCU School of Medicine has balanced teaching, research and patient care. In recent years, we have defined our mission as the constant improvement of the quality of health care for citizens of Virginia using innovative, scholarly activity to create new knowledge, to provide better systems of medical education and to develop more effective health care methods. Budget $0.00 The School of Allied Health Professions Description The School of Allied Health Professions serves as an international leader in the education of excellent, innovative and responsible allied health professionals. The School, responsive to the needs of society, promotes excellence in healthcare service, and encourages collaborative research that generates state-of-the-art and specialized knowledge. Educational formats that are technologically advanced and accessible to students through on-campus and distance learning are emphasized. The School is an integral part of Virginia Commonwealth University and its Medical College of Virginia campus. The School recognizes the importance of being accountable to the students and their families, the Commonwealth, faculty, staff, alumni/alumnae, and other benefactors by using resources effectively. Strong linkages with clinical educators, preceptors, and the community are essential to the success of the School. Budget $0.00 The School of Dentistry Description The School of Dentistry has a long history of educating practitioners capable of meeting the oral health care needs of the communities they serve. The School provides opportunities for selected, qualified individuals to study dentistry under the most favorable conditions and in accordance with the standards established by the Commission on Dental Accreditation of the American Dental Association. Budget $0.00 4

5 The School of Nursing Description Established in 1893, the School has a proud heritage of educating the nation s best nurses. Today, the School is a leader in nursing education and research. VCU offers the full range of academic programs from baccalaureate to doctoral programs. The School enrolls more than 900 students and offers a rigorous education combining classes conducted in state of the science classrooms and clinical simulation laboratories to patient care experiences in Magnet hospitals and community clinics and physician offices. Our partnership with the VCU Health System, a level 1 trauma center with Magnet status, offers one of the best clinical experiences in the nation. The VCU School of Nursing faculty are nationally recognized for their contributions to research and education. Currently, the School is ranked 21st nationally in NIH funding. Budget $0.00 The School of Pharmacy Description Rated among the nation's top professional graduate programs, the VCU School of Pharmacy is at the forefront in Pharmacy, Pharmaceutics, and Medicinal Chemistry education and research. Established in 1898, the School has a long history of pioneering changes in the field of Pharmacy. Throughout the past century Pharmacy practice has changed dramatically, from the art and science of compounding and dispensing medicine to a valuable information resource in drug management for patients and health care professionals. Over 110 years since its founding, the School's programs serve as a model for many schools nationwide. Budget $0.00 5

6 Board & Governance Board Chair Board Chair Gail W. Johnson Company Affiliation Rainbow Station Term July 2013 to June Board Members Name Affiliation Status Mr. John Beckner Virginia Commonwealth University Dr. Katherine C. Bobbitt Community Volunteer Mr. Roger L. Boeve Mr. Austin Brockenbrough III Performance Food Group Company Lowe, Brockenbrough & Company, Inc. 6 Dr. Charles F. Bryan Jr. Retired, Virginia Historical Society Ms. Elizabeth Whalley Buono MeadWestvaco Healthcare Dr. George W. Burke III Retired Dr. B. Ellen Byrne Community Volunteer Dr. Charles M. Caravati Jr. Retired, Dermatology Associates of Virginia Mr. Herbert A. Claiborne III Carpenter and Company Dr. Richard M. Clary Community Volunteer Ms. Judith B. Collins WHNP Community Volunteer Dr. William D. Covington Community Volunteer Mr. Charles F. Crone Community Volunteer Mr. George P. Emerson Jr. Everson Companies, LLC Mr. William M. Ginther Retired Mr. Jeffrey H. Gumenick Gumenick Properties Mr. L. Preston Hale QS-1 Data Systems Dr. JoAnne K. Henry Community Volunteer Mr. Basil Leonard Hurst III Plural Investments, LLC Ms. Gail W. Johnson R.N. Rainbow Station, Inc. Mr. Darius Johnson Premier Bank Mr. Lee B. Krumbein LBK Investments, LLC Mr. David A. Lyons Lowe, Brockenbrough & Company, Inc. Mr. John W. Martin Southern Institute of Research Mr. Ronald H. McFarlane MedPro Rx, Inc. Mr. J. Keith Middleton Community Volunteer Mr. H. Frederick T. Moore Big River Advertising Mr. Robert F. Norfleet Jr. Retired Mrs. Rebecca T. Perdue Retired

7 Dr. John Philips Wisdom and Wealth Solutions, Inc Dr. Ghulam D. Qureshi West End Hematology Oncology Dr. Michael Rao President, Virginia Commonwealth University Exofficio Dr. Marsha. Rappley III VCU Health System Exofficio Dr. James H. Revere President of the MCV Alumni Association Ms. Bertha C. Rolfe RPH Community Volunteer Mr. John Slyh Deloitte & Touche Mr. T. K. Somanath Retired, Richmond Better Housing Coalition Ms. Ellen E. Spong Trusco Capital Management Mr. James H. Starkey III Community Volunteer Dr. Kit T. Sullivan Virginia Family Dentistry Mr. Joseph M. Teefey Community Volunteer Mr. Harry R. Thalhimer Thalhimer Headwear Dr. George W. Vetrovec VCU School of Medicine, Dept. of Internal Medicine Dr. Richard P. Wenzel VCU Dept. of Internal Medicine Dr. Michelle Whitehurst-Cook School of Medicine Ms. Judith Forehand Woods Community Volunteer Dr. Harold F. Young VCU Department of Neurosurgery Board Demographics - Ethnicity African American/Black 2 Asian American/Pacific Islander 1 Caucasian 41 Hispanic/Latino 0 Native American/American Indian 0 Other 0 1 (Indian) Board Demographics - Gender Male 33 Female 12 Unspecified 0 Governance Board Term Lengths 0 Board Term Limits 0 Board Meeting Attendance % 0 Written Conflict of Interest Policy? Yes 7

8 Percentage Making Monetary Contributions 93 Percentage Making In-Kind Contributions 0 Number of Full Board Meetings Annually 0 8

9 Management Executive Director/CEO Executive Director Mr. Brian S. Thomas Term Start Sept Senior Staff Name Mr. Jennings D. Dawson III Mr. Brian S. Thomas Title Chief Financial Officer Senior Director of Development Staff Full Time Staff 11 Part Time Staff 0 Volunteers 0 Contractors 0 Retention Rate 0 Plans Organization has a Strategic Plan? 9

10 Financials Fiscal Year July Fiscal Year 2016 Projected Revenue $4,506, Projected Expenses $4,506, Endowment Value Spending Policy Percentage Percentage (if selected) 5% Form 990s Form 990 Form 990 Form 990 Form 990 Form 990 Form 990 Detailed Financials Revenue and Expenses Total Revenue $77,683,000 $65,482,000 $27,817,202 Total Expenses $35,285,000 $34,111,000 $32,680,453 Revenue Sources Foundation and Corporation Contributions Government Contributions $0 $0 $0 Federal State Local Unspecified Individual Contributions $26,925,000 $23,086,116 $19,896,846 Indirect Public Support $5,137, Earned Revenue -- $1,746,000 $2,571,112 Investment Income, Net of Losses $45,621,000 $37,882,000 $3,262,839 Membership Dues Special Events Revenue In-Kind -- $2,768,561 $941,562 Other $2,086,405 10

11 Expense Allocation Program Expense $32,705,000 $31,847,000 $29,493,050 Administration Expense $2,580,000 $1,382,767 $2,294,492 Fundraising Expense -- $881,233 $892,911 Payments to Affiliates Total Revenue/Total Expenses Program Expense/Total Expenses 93% 93% 90% Fundraising Expense/Contributed Revenue 0% 4% 4% Assets and Liabilities Total Assets $479,643,000 $444,075,283 $410,216,126 Current Assets $12,928,000 $30,208,000 $32,776,273 Long-Term Liabilities $16,581,342 Current Liabilities $12,625,000 $19,455,254 $385,435 Total Net Assets $467,018,000 $424,620,029 $393,249,349 Short Term Solvency Current Ratio: Current Assets/Current Liabilities Long Term Solvency Long-Term Liabilities/Total Assets 0% 0% 4% Top Funding Sources Top Funding Source & Dollar Amount Second Highest Funding Source & Dollar Amount Third Highest Funding Source & Dollar Amount Capital Campaign Currently in a Capital Campaign? Yes Goal 0 State Charitable Solicitaions Permit Permit? Exempt 0 Registration Exempt 0 Comments Foundation Comments Financial information provided from IRS 990s. IRS 990s and audited financial statements prepared by Keiter, Stephens, Hurst, Gary & Shreaves. Revenue from "Foundations and Corporations" also includes support from individuals, and may also include support from government agencies. 11

12 Created Copyright 2016 The Community Foundation Serving Richmond & Central Virginia 12