Virginia Student Aid Foundation
PO Box 400833, Charlottesvle, VA · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $50,256,478 | $44,993,376 | $181,406,603 |
| FY2023 | $59,716,708 | $48,928,927 | $167,037,026 |
| FY2022 | $45,190,995 | $45,531,068 | $152,201,314 |
| FY2021 | $45,876,846 | $40,287,970 | $163,310,682 |
| FY2020 | $33,369,688 | $48,755,916 | $145,398,429 |
| FY2019 | $51,488,327 | $36,817,271 | $141,007,444 |
| FY2018 | $31,579,829 | $39,338,894 | $115,337,275 |
| FY2017 | $41,217,764 | $39,234,285 | $122,978,349 |
| FY2016 | $32,880,655 | $31,692,025 | $111,075,050 |
| FY2015 | $31,426,147 | $31,502,990 | $106,277,186 |
| FY2014 | $30,015,341 | $30,855,053 | $102,528,557 |
| FY2013 | $21,744,951 | $34,226,263 | $95,276,426 |
| FY2012 | $25,131,127 | $40,222,923 | $96,999,549 |
| FY2011 | $29,751,906 | $40,679,471 | $103,578,108 |
Form 990 filings
The returns filed by Virginia Student Aid Foundation (EIN 54-0517188), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $47,385,256 | 94% |
| Program service revenue | $1,995,333 | 4% |
| Other revenue | $875,889 | 2% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $39,768,829 | 88% |
| Management & general | $2,259,068 | 5% |
| Fundraising | $2,965,479 | 7% |
What the numbers show
- Contributions & grants made up 94% of total revenue in FY2024.
- Program services accounted for 88% of functional expenses, management & general 5%, and fundraising 7%.
- 88% of functional expenses went to program services in FY2024. That is higher than 69.1% of 136 Education organizations in VA.
- Net assets covered about 48.4 months of expenses at the end of the reporting year. That puts it in the 73rd percentile among 1604 Education organizations in VA.
- Total revenue was higher than 97.7% of 1641 Education organizations in VA.
- Total revenue rose from $29,751,906 in FY2011 to $50,256,478 in FY2024. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 8 of 14 reported years (FY2011, FY2012, FY2013, FY2014, FY2015, FY2018, FY2020, FY2022).
- The highest revenue on record here is $59,716,708 in FY2023.
- Net assets grew from $103,578,108 to $181,406,603 between FY2011 and FY2024.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
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 THE OPPORTUNITY TO ACHIEVE ACADEMIC AND ATHLETIC EXCELLENCE.
IRS status
| Ruling year | 1951 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B820 — Education (in VA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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