John E. Dooley Terri T. Mitchell Chief Executive Officer ...
Transcript of John E. Dooley Terri T. Mitchell Chief Executive Officer ...
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John E. Dooley Terri T. MitchellChief Executive Officer Associate Vice President
Kevin G. Sullivan Joe W. MeredithAssociate Vice President President, CRC
University Related CorporationsUniversity Related Corporations
• Serve to support the various missions and programs of the university
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University Related CorporationsUniversity Related Corporations
Virginia Tech Foundation, Inc.• Receive, manage, and disburse private gifts and assets on behalf
of the university; undertake major projects as requested by the university
Virginia Tech Services, Inc.• Operate bookstores vending; provide supplies to the university
community Virginia Tech Intellectual Properties, Inc.
• Protect, license, and otherwise commercialize intellectual properties originating within the university
Virginia Tech Athletic Fund, Inc.• Raise private contributions in support of athletic scholarships,
programs, and facilities
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University-Related CorporationsUniversity-Related Corporations
Virginia Tech Alumni Association, Inc.• Facilitate communications between alumni, students, parents,
faculty, and the public; coordinate and promote alumni chapter activities and alumni events
Virginia Tech Corps of Cadets Alumni, Inc.• Promote and enhance the Corps program by raising scholarship
fundsVirginia Tech Innovations Corporation
• Focused on developing emerging technologies, furthering the scientific research, clinical, educational, and development goals of the university and others
Virginia Tech - Applied Research Corporation• Promote, encourage and aid scientific investigation and pure and
applied research at the university; promote and foster the application of science in the development of commerce, trade and industry
MissionMission
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The Virginia Tech Foundation, Inc. was established in 1948 to receive, manage, and disburse private gifts in support of Virginia Tech 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.
Financial HighlightsFinancial Highlights
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Fiscal Year 2012:
Total Assets: $1,210.7 million
Total Revenues: $137.3 million
Total Contributions: $67.9 million
Total Expenditures: $135.5 million
$613.5
$670.4$728.0
$808.9
$940.9 $926.0 $942.1
$1,023.6
$1,155.1$1,210.7
$0.0
$200.0
$400.0
$600.0
$800.0
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FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
Virginia Tech Foundation, Inc.Total Assets ‐ 10 year History
in millions
Asset ValueAsset Value
Endowed Funds and Market ValueEndowed Funds and Market Value
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$246.1 $213.9 $233.2 $284.5 $273.6
$77.3 $80.0$71.8
$89.3 $88.8
$204.3
$157.9
$197.4
$226.8
$232.3
2,728
2,844
2,930
3,020
3,121
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2,700
2,800
2,900
3,000
3,100
3,200
$0.0
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Scholarships Professorships Other Funds Total Funds
Virginia Tech FoundationReal Estate
Virginia Tech FoundationReal Estate
• Hotel Roanoke• Pete Dye River Course• CESA – Riva San Vitale• WAAC Properties• Equine Medical Center• Reynolds Homestead• Hampton AREC
Virginia Tech FoundationReal Estate
Virginia Tech FoundationReal Estate
• Kentland Farm• Cranwell Center• Heth Property• University Gateway Center/University Mall• Smith’s Landing Project• Quarry
Virginia Tech FoundationReal Estate
Virginia Tech FoundationReal Estate
• VTRC-Arlington• North End
• Formerly TSP & • Collegiate Square
• McCormick Farm• Donated properties
The Growth of The CRC has Exceeded Expectations
The Growth of The CRC has Exceeded Expectations
• Over 150 private companies and research centers• Over 2600 tenant employees• Occupying over 1 million square feet in 29 completed
buildings since 1988• 2010 Outstanding
International park
Growth is ContinuingGrowth is Continuing
• Two buildings under construction• Expansion at VTTI• The Advanced Power and Propulsion Laboratory
• One building is in design with completion in early 2014
• Rec fields and a pavilioncoming this summer
The CRC Supports VT’sLand Grant Mission
The CRC Supports VT’sLand Grant Mission
• Supports teaching mission with numerous classes working at the CRC from business, engineering, and architecture
• CRC companies sponsor over $2 million per year in research
• CRC facilitates transfer of IP to the private sector
CRC Also Provides Value to VT through:
CRC Also Provides Value to VT through:
• Being an at-cost developer/property manager• Being an option for a trailing spouse• Flexibility and timely construction of facilities for VT
research• Provision of opportunities
for faculty and students
The CRC Reflects Numerous Technologies
The CRC Reflects Numerous Technologies
Computer Science 14%
Business Assistance2%
Internet 7%
Eng & Design 7%
Biotech 30%
Enviro. 3%
Materials & Chem. 6%
Electronics3%
Other13%
Library Science3%
Transportation7%
Agriculture0%
Legal1%
Forestry4%
Medical Products0%
Current Technologies By Space (10/24/12)
A Prototypical Tenant Company might:
A Prototypical Tenant Company might:
• Have been formed by a faculty member, graduate student or alumni (e.g., TORC)
• License technology from VTIP (e.g., Adaptive Technologies)
• Sponsor research at VT (e.g., Harmonia)• Employ faculty/students/grads as co-ops, interns or
full/part-time employees
The CRC’s VT KnowledgeWorksInvents The Future
The CRC’s VT KnowledgeWorksInvents The Future
• Creates an entrepreneurial environment• Currently working with over 53 early stage
companies, 22 of which come from faculty/staff and alumni
• Graduated 21 companiesas successful launches
• Services reduce risk ofstart-up failures
CRC Tenant Companies/Employees Provide Value to the Community
CRC Tenant Companies/Employees Provide Value to the Community
• Contribute to numerous worthwhile causes• Sit on various boards and commissions – like
Christiansburg Town Council, etc...• Provide leadership on controversial issues – like the
development of the new BHS• Support the arts and athletics• Elevates our national standing• Attracts outstanding, diverse workforce
CRC Increases Region’sPrestige Around the WorldCRC Increases Region’s
Prestige Around the World
• VT KnowledgeWorks’ Global Challenge
• AURP Outstanding International Research Park
• Visited frequently by representatives from parks around the world
What does VTF do for me?What does VTF do for me?
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• Program Support and Leadership
• Ut Prosim – Service to Virginia Tech
Program Support and LeadershipProgram Support and Leadership
• National Tire Research Center
• Broadband Technologies Opportunity Program
• Dakar, Senegal• Bergonzi Violin
Ut Prosim – Service to Virginia TechUt Prosim – Service to Virginia Tech
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• Service to University Departments
• Service to Students
• Service to Other Related Corporations/Entities
• Service to the Community
Service to DepartmentsService to Departments
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• Endowment Income• Flexibility in Spending• Facilities and Space• Support Development Office• Facilitate Acceptance of In-Kind
Contributions
Service to StudentsService to Students
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• Student Internships• Scholarships• Parents Fund• Livestock• SEED/BASIS
Service to Related EntitiesService to Related Entities
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• Administrative Support for New Entities • Accounting• Payroll• Human Resources• Information Technology
• On-going General Guidance• PCI Compliance• Audit &Tax matters• Human Resources• Business practices• Legal
Service to the CommunityService to the Community
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Looking To The FutureLooking To The Future
• Endowment Growth
• Real Estate Investments in Support of Virginia Tech Program Priorities
• New Programs/Services
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Questions???Questions???
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http://www.vtf.vt.edu