Virginia Tech Foundation
The Virginia Tech Foundation is a 501 nonprofit nonstock corporation established in 1948 to receive, manage, and disburse private gifts in support of Virginia Polytechnic Institute and State University programs. The purpose of the foundation is to manage private funds given for the support of the university, and to foster and promote the growth, progress and general welfare of the university. The Virginia Tech Foundation is governed by a 35-member Board of Directors and 4 ex-officio positions: the President of Virginia Tech, the Rector of the Board of Visitors, the President of the VT Alumni Association, and the President of the Virginia Tech Athletic Fund.
Virginia tech foundation supports the programs of virginia tech. The foundation does this by generating funding from private sources and aggressively managing its assets to supplement state appropriations, tuition, and other sources of funds. The foundation provides financial assistance to students, additional operating support to colleges and departments, assists in the funding of major building projects, provides seed capital for new university initiatives, and initiates major projects as requested by the university. For more information, see schedule o.