Virginia Commonwealth University School of Business Foundation

The vcu School of Business Foundation owns nonresidential real estate. That property is leased to Virginia Commonwealth University for $1 per year, under a lease agreement which expires in 2031, for the purpose of housing the main teaching and activity facility for the School of Business. The remainder of the rental income is imputed. The Foundation has recorded as a liability an amount equal to the estimated present value of the future rental value of the facility over the initial lease term less the $1 annual rent payment. The Foundation incurs interest, depreciation, amortization and legal expenses with regards to this activity.

The vcu School of Business Foundation assists and supports Virginia Commonwealth University's School of Business by providing educational conferences and noncredit bearing courses for members of the School and community. These types of activities include executive education courses in leadership skills, technical training in Business areas such as six sigma, professional exam review courses and industry conferences for real estate, risk & insurance and international Business. Any proceeds from conferences and noncredit bearing course registrations that exceed the cost of the programs are used to support programmatic initiatives within the School of Business.

The vcu School of Business Foundation supports programmatic initiatives of the School of Business primarily by managing invested funds and administering the distribution of annual gifts, endowment and quasi-endowment funds. These programs include: endowed chairs and professorships, providing merit scholarships to more than 55 students annually, departmental support of faculty development, student development activities, as well as research support and assistantships.