Education (B110) IRS Verified DX Registered 990 on File

VMI FOUNDATION

EIN: 54-0505966 · LEXINGTON, VA 24450-2110 · United States · FY 2024 Data

3 out of 5 56 / 100 Based on 2+ years of filings

Financial strength (30%) 81/100

Reliability (20%) 55/100

Effectiveness (25%) 85/100

Impact (25%) No data yet

Financial data: FY 2024 · Scored 9/13/2026

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CharityAI™ Score

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Mission Statement

The funds received by the VMI Foundation are used to support the academic and extracurricular programs of a non-intercollegiate athletic nature of Virginia Military Institute and the activities of the VMI Alumni Agencies. The Alumni Agencies are independent corporations which function as the fund-raising and alumni organization offices for VMI, as approved by the Institute's Board of Visitors. Virginia Military Institute has no such offices of its own: the Alumni Agencies perform all the usual functions of alumni and development offices on behalf of the Institute. Therefore, all funds received by the VMI Foundation are used on behalf of Virginia Military Institute.

Financial Overview — FY 2024

$26.3M

Total Revenue

$26.0M

Total Expenses

$617.8M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 86.4%

Fundraising Efficiency N/A

Operating Reserve 285.42x

Liability-to-Asset 3.8%

Revenue Diversification 51.9%

Executive Compensation $388K

Compared with Peers

FY 2024

Compared with 1,943 similar organizations (United States, Education, $10M–$100M in expenses), FY 2024.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	86.4%	84.6%	P10P90	Above median
Admin expense ratio Management and general / total expenses · lower is better	8.3%	13.3%	P10P90	Above median
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	5.3%	0.7%	P10P90	Bottom quarter
Operating reserve Months of expenses covered by net assets · higher is better	285.4 mo	10.6 mo	P10P90	Top quarter
Liabilities to assets Total liabilities / total assets · lower is better	3.8%	31.2%	P10P90	Top quarter
Revenue concentration Share of revenue from the largest source · lower is better	51.9%	88.3%	P10P90	Top quarter
Revenue growth Year over year revenue growth	-29.0%	7.9%	P10P90
Expense growth Year over year expense growth	-4.2%	7.4%	P10P90
Surplus margin Surplus as a share of revenue	1.1%	3.0%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2024	$26.3M	$26.0M	$617.8M	86.4%	28
2023	$37.0M	$27.1M	$563.5M	75.2%	34
2022	$24.3M	$26.1M	N/A	—	25

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Organization Details

EIN: 54-0505966
State: VA
City: LEXINGTON
ZIP: 24450-2110
Classification: B110
Category: Education
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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