VA FOUNDATION FOR INDEPENDENT COLLEGES Charity Report

Public IRS 990 nonprofit record

VA FOUNDATION FOR INDEPENDENT COLLEGES

EIN 54-0554396 · Education (B42J)

What they do

to SECURE FINANCIAL SUPPORT THAT ENABLES COLLEGE-BOUND STUDENTS to ACCESS and GRADUATE FROM OUTSTANDING VIRGINIA INDEPENDENT HIGHER EDUCATION INSTITUTIONS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $71.40 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders85 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

77.21%of revenue went to mission work71.4% of expenses · Program services

10.59%of revenue went to fundraising9.8% of expenses

$108.17spent for every $100 of revenueSpending was higher than revenue this year.

20.36%of revenue went to management and office costs18.8% of expenses

$11.65in assets for every $1 spent this yearSome assets cannot be spent right away.

95.1%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $292,148 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $271,810 for LOCKE W OGENS (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$3,577,306

Mission workProgram services$2,762,11877.21% of revenue71.4% of expenses

ManagementOffice and general costs$728,33420.36% of revenue18.8% of expenses

FundraisingAsking for donations$379,00210.59% of revenue9.8% of expenses

Total expenses$3,869,454108.17% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 71.4% mission · 18.8% management · 9.8% fundraisingTotal expenses: 108.17% of revenue

2023Expense mix: 74.6% mission · 16.7% management · 8.7% fundraisingTotal expenses: 175.62% of revenue

2022Expense mix: 75.5% mission · 16.5% management · 8.0% fundraisingTotal expenses: 149.29% of revenue

2021Expense mix: 74.4% mission · 17.8% management · 7.8% fundraisingTotal expenses: 223.90% of revenue

2020Expense mix: 66.9% mission · 24.0% management · 9.1% fundraisingTotal expenses: 128.96% of revenue

2019Expense mix: 73.2% mission · 17.7% management · 9.2% fundraisingTotal expenses: 220.70% of revenue

2018Expense mix: 67.5% mission · 19.0% management · 13.5% fundraisingTotal expenses: 167.76% of revenue

2017Expense mix: 62.3% mission · 22.6% management · 15.1% fundraisingTotal expenses: 186.37% of revenue

Money in and money out

Revenue$3,577,306

Expenses$3,869,454

Annual shortfall $292,148 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$2,762,118 · 71.4% of expenses

Management and office costs$728,334 · 18.8% of expenses

Fundraising$379,002 · 9.8% of expenses

See all reported dollar amounts

Revenue$3,577,306

Expenses$3,869,454

Assets$45,063,696

Income$5,321,897

Contributions$3,400,755

Mission work (program services)$2,762,118

Fundraising$379,002

Grants given$14,600,983

Average grant$126,965

Management and general$728,334

Accounting fees$29,200

Investing fees$257,367

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

LOCKE W OGENSPRESIDENT · 40 hrs/week $271,810Base $269,327 · Other $2,483

MARY-BETH JOHNSONCHIEF OPERATING OFFICER · 40 hrs/week $216,236Base $179,774 · Other $36,462

ELIZABETH BLAINEDIRECTOR OF DEVELOPMENT · 40 hrs/week $191,073Base $185,434 · Other $5,639

MATTHEW SHANKFORMER PRESIDENT · 40 hrs/week $27,660Base $15,181 · Other $12,479

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (85)

LOCKE W OGENSPRESIDENT

MARY-BETH JOHNSONCHIEF OPERATING OFFICER

ELIZABETH BLAINEDIRECTOR OF DEVELOPMENT

MATTHEW SHANKFORMER PRESIDENT

MARY POPE M HUTSONTRUSTEE

RANDY HARRELLTRUSTEE

RANDALL PARKSTRUSTEE

R SACKETT WOODTRUSTEE

PETER A CONVERSETRUSTEE

PALMER P GARSONTRUSTEE

NANCY HOWELL AGEETRUSTEE

MICHAEL HILLTRUSTEE

JOHN R CLARK IIITRUSTEE

MARY DANA HINTONTRUSTEE

MARY ALLEN WALLERTRUSTEE

MARTIN KENTTRUSTEE

MARK G MYKITYSHYN PHDTRUSTEE

MARIA TEDESCOTRUSTEE

LAUREN FISHER WHITETRUSTEE

KEVIN F HALLOCKTRUSTEE

KEITH D VANDERVENNETTRUSTEE

JOHN M CAMP IIITRUSTEE

THOMAS L RANSOMTRUSTEE

WILLIAM R VAN BUREN III ESQCHAIRMAN

WILLIAM L PANNILLTRUSTEE

WILLIAM L MURRAYTRUSTEE

WILLIAM C DUDLEYTRUSTEE

W SHEPPARD MILLER IIITRUSTEE

VICTOR O CARDWELL ESQTRUSTEE

TRACY FRISTTRUSTEE

TRACY FITZSIMMONSTRUSTEE

TODD TELEMECOTRUSTEE

THURSTON R MOORE ESQTRUSTEE

RICHARD CULLEN ESQTRUSTEE

THOMAS E GOODETRUSTEE

THEODORE L CHANDLER JRTRUSTEE

TEAGUE AVEYTRUSTEE

T JUSTIN MOORE IIITRUSTEE

SUE OTT ROWLANDSTRUSTEE

STEWART D ROBERSON EDDTRUSTEE

SCOTT D MILLERTRUSTEE

RUSS ELLETTRUSTEE

ROBERT H SPILMAN JRTRUSTEE

C LYNCH CHRISTIAN IIITRUSTEE

DOUGLAS WILSONTRUSTEE

DENNIS MATHEISTRUSTEE

DAVID W BUSHMANTRUSTEE

DARRELL K WILLIAMSTRUSTEE

DANIEL J ONEILLTRUSTEE

CRAIG L MASSEYTRUSTEE

CHARLOTTE PORTERFIELDTRUSTEE

CHARLES L CABELL ESQTRUSTEE

CARTER V REIDTRUSTEE

CALVIN W FOWLER JRTRUSTEE

ESTHER C LEETRUSTEE

C BURKE KINGTREASURER

BRIAN W QUIGLEYTRUSTEE

BRIAN K SKINNERTRUSTEE

BRAD N HALLTRUSTEE

BEVERLY E DALTONTRUSTEE

BERNARD A NEIMEIERTRUSTEE

ANDREA GLASGOWTRUSTEE

ALISON MORRISON-SHETLARTRUSTEE

A MARSHALL ACUFF JRTRUSTEE

H MCGUIRE RILEYTRUSTEE

A LOUISE FINCHERTRUSTEE

JOHN H WICK IVTRUSTEE

JOHN C ASBURYTRUSTEE

JENNIFER FELIXTRUSTEE

JEFFREY V HALEYTRUSTEE

JAMES C WHEAT IIITRUSTEE

J KNOX SINGLETONTRUSTEE

IRMA BECERRAVICE CHAIR

HUGH E TAYLORTRUSTEE

HAKIM J LUCASTRUSTEE

JOHN MCNAMARA CURTIS SRTRUSTEE

H HITER HARRIS IIITRUSTEE

GEORGE Y BIRDSONGTRUSTEE

GEORGE F ALBRIGHT JRTRUSTEE

GEORGE C FREEMAN IIITRUSTEE

GARY R THOMSONTRUSTEE

GARY R SHOOKTRUSTEE

GARY D BONNEWELLTRUSTEE

FRANK BATTEN JRTRUSTEE

FRANK SHUSHOKTRUSTEE

About this charity

Recognized since: January 1953
Location: 901 EAST BYRD STREET 1625, RICHMOND, VA 23219
County: City of Richmond
In care of: LOCKE OGENS
Primary officer: LOCKE OGENS, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(804) 288-6609

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: BROWN EDWARDS & COMPANY LLP
NTEE classification: Education (B42J)
Grant-giving organization: Yes