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VMI Foundation, Inc. Endowment Fund

Name: VMI Foundation Treasurer’s Office

Assets Under Management: $401 Million (Source: VMI Foundation, Inc. on 6/30/2014)

Annual Report: VMI Foundation, Inc.’s Combined Financial Statements Years Ended June 30, 2014 and 2013

Portfolio Insights: “The VMI Alumni Agencies (Agencies) are comprised of four organizations that share the common purpose of raising funds, investing funds, and performing other activities on behalf of VMI alumni and other donors in support of Virginia Military Institute (VMI). Significant sources of revenue consist of contributions and investment return. Due to their shared purpose, the Agencies have elected to present their financial statements on a combined basis. All significant interagency accounts and transactions have been eliminated in combination.” (Source)

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Top VMI Foundation, Inc. Endowment Fund Headlines:

1) The success of the VMI Foundation is clearly seen in the disbursement figure of last year which totalled just  under $65,000. The total market value of all funds, having reached over $2,500,000, shows the great progress of the Foundation in financially promoting and encouraging the betterment of the VMI. (Source)

2) The V.M.I. Foundation, Inc. is governed by a thirdy-man Board of Trustees. The Trustees of the Foundation include as ex-officio members, the Superin-tendent of V.M.I., the President of The V.M.I Alumni Association, and the Chairman of the V.M.I. Parents Council (a non alumnus). Among the re-maining Trustees there must be one who is a member of the V.M.I. faculty and one who is a member of the V.M.I. Board of Visitors. (Source)

3) The VMI Foundation, Inc. is establishing a new position of Director of Advancement Services to lead our efforts to integrate technology more fully into our business in support of the Virginia Military Institute’s ambitious plans for the future as we look ahead to our 200th anniversary.  The successful candidate, who will be fully integrated into the Foundation’s advancement team and report directly to the Executive Vice President of the VMI Foundation Inc. will supervise a staff of seven that supports athletic and non-athletic fundraising as well as alumni services. (Source)

4) Virginia Military Institute, located in Lexington, Virginia, is a four-year undergraduate college founded in 1839.  It is a member of the Commonwealth of Virginia’s system of higher education.  The Institute’s governing body is the Board of Visitors whose members are appointed by the Governor.  The Board of Visitors has the responsibility of appointing the Superintendent (President) who is the chief executive officer of VMI.  General J.H. Binford Peay III, VMI Class of 1962, is the Institute’s Superintendent. (Source)

5) A member of the VMI Class of 1958, Thomas A. Saunders has been the president of Ivor & Co., LLC, a private investment company, since 2000. He was a founder of the private-equity firm, Saunders Karp & Megrue Partners (SKM), LLC, which merged with Apax Partners in 2005. Before founding SKM in 1990, he worked 22 years for the investment banking firm Morgan Stanley & Co. and was a managing director of that firm from 1974 to 1989. Saunders has been a director of the Dollar Tree Stores, Inc. since 1993 and serves on the board of Hibbett Sports, Inc. (Source)

About Richard C. Wilson