Public Charity

VMI Foundation

Based in Lexington, VA, VMI Foundation operates as a Public Charity. The organization reported $26.7M in revenue, $28.6M in expenses, $691.3M in total assets for fiscal year 2025. Imperigo tracks 135 reported grant relationships connected to this organization totaling approximately $26.2M.

EIN: 540505966 Lexington, VA Single Organization Support NTEE: B11 Latest filing: 2025
Total Revenue$26.7M
Total Expenses$28.6M
Total Assets$691.3M
Grant Records135
Funding Total$26.2M
Filing Years2020–2025

Mission

FOR THE ADVANCEMENT, PROMOTION, ENCOURAGEMENT, WELFARE AND PROGRESS OF VIRGINIA MILITARY INSTITUTE (VMI), A STATE-SUPPORTED COLLEGE, AND ADVANCEMENT, WELFARE AND PROGRESS OF THE VMI ALUMNI ASSOCIATION, WHO ALSO SUPPORTS VMI IN CONJUNCTION WITH ALUMNI RELATIONS TO FURTHER SUPPORT.

Where $100 goes at VMI Foundation

How VMI Foundation divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.

$79 Programs the work itself
$15 Management running the organization
$6 Fundraising raising the next dollar

Inside the $79 for programs

$79
Funds raised by the Foundation are used for providing scholarships and other academic and athletic program support to the Virginia Military Institute and its related alumni associations
All program spending
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Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

Board Member Colonel Joseph P Moan Usaf Ret
Board Member Commander Bree A Guiterman
Chief Financial Officer Crissy S Elliott
Chief Executive Officer David L Prasnicki
Board Member Dr Christopher R Gorman
Senior Major Gift Officer Gregory M Cavallaro

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support
$16,101,144 88 grants
Education
$9,655,757 31 grants
Unspecified
$446,250 13 grants

Financial Trends

Year Revenue Expenses Assets
2025 $26.7M $28.6M $691.3M
2024 $26.3M $26.0M $642.1M
2023 $37.0M $27.1M $584.2M
2021 $26.8M $23.0M $567.2M
2020 $28.6M $21.4M $421.3M

Between 2020 and 2025, reported annual revenue declined from $28.6M to $26.7M (-6%), with total assets most recently reported at $691.3M.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for VMI Foundation

Complete financials, all 135 grant records, officer compensation, year-over-year trend charts, a geographic grant map, and data exports — across 880,000+ organizations.

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