THE MISSION OF THE VIRGINIA FOUNDATION FOR INDEPENDENT COLLEGES IS TO ADVANCE THE DISTINCTIVE VALUES AND STRENGTHS OF OUR SIXTEEN SMALLER ENROLLMENT, UNDERGRADUATE, RESIDENTIAL VIRGINIA MEMBER COLLEGES. WE DO THIS BY SECURING FINANCIAL SUPPORT FROM THE PRIVATE SECTOR, INCREASING VISIBILITY, FACILITATING INNOVATIVE AND COLLABORATIVE INITIATIVES BETWEEN THE COLLEGES, AND SUPPORTING INITIATIVES WHICH ENSURE THAT THIS PERSONALIZED EDUCATIONAL EXPERIENCE REMAINS AN AFFORDABLE CHOICE FOR TOMORROW'S CITIZEN-LEADERS.
Executive compensation, broken down
Form 990 · Part VII & Schedule J · 2 reported individuals · Filing year 2023
Percentile bands compare each position's total pay with the same role at Education organizations in Virginia.
- Base
- $280k
- Bonus
- $26k
- Other
- —
- Benefits
- $55k
- Base
- $145k
- Bonus
- $15k
- Other
- —
- Benefits
- $42k
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
Former President 75th to 90th percentile | $280k | $26k | — | $55k | $371k $406k |
Chief Operating Officer Median to 75th percentile | $145k | $15k | — | $42k | $213k $232k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 84 unpaid individuals.
Top pay as a share of expenses
In 2023, the highest total compensation at VA FOUNDATION FOR INDEPENDENT COLLEGES equaled 10% of the organization's total expenses. The median for education organizations is 7%.
Based on 26,320 education organizations, each measured at its most recent filing year with reported expenses and compensation.
Funded by
Private foundations whose Form 990-PF Part XV grants matched this organization.
Up 12%
from 2022
From $332k in 2022 to $371k in 2023.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Chief Executive Officer pay rose 12% from 2022 to 2023, while revenue fell 7%.
- Chief Operating Officer pay rose 12% from 2022 to 2023.
Pay for the position itself, not any one person. The officeholder may have changed between 2022 and 2023.
Among peers
Revenue and top compensation, plotted against similar organizations. This organization is highlighted in cyan.
Common questions about VA FOUNDATION FOR INDEPENDENT COLLEGES
What does the Chief Executive Officer of VA FOUNDATION FOR INDEPENDENT COLLEGES earn?
In 2023, the Chief Executive Officer of VA FOUNDATION FOR INDEPENDENT COLLEGES received $371,326 in total compensation. This pay is in the top quarter for Chief Executive Officer roles among Education organizations in Virginia, though not the top 10% of comparable filings. Based on IRS Form 990 data.
How does Chief Executive Officer pay at VA FOUNDATION FOR INDEPENDENT COLLEGES compare with similar nonprofits?
Compared with the same role at Education organizations in Virginia, the 2023 pay of the Chief Executive Officer at VA FOUNDATION FOR INDEPENDENT COLLEGES falls between the 75th and 90th percentiles. In 2023, the highest total compensation at VA FOUNDATION FOR INDEPENDENT COLLEGES equaled 10% of the organization's total expenses. The median for education organizations is 7%.
What are VA FOUNDATION FOR INDEPENDENT COLLEGES's revenue and expenses?
In 2023, VA FOUNDATION FOR INDEPENDENT COLLEGES reported $2.2M in total revenue and $3.8M in total expenses on its IRS Form 990.
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