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MISSION STATEMENT: The mission of the Virginia Foundation for Independent Colleges is to advance the distinctive values and strengths of these smaller, 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.
G. S. "Sandy" Fitz-Hugh VFIC Chairman of the Board The Virginia Foundation for Independent Colleges provides a look into 15 of Virginia's finest private colleges and universities. The VFIC creates partnerships between individuals, the business community, and the 15 institutions. Support from unrestricted donations is used for financial aid, scholarships, and other campus priorities; such as: undergraduate research, Career Workforce/ Career 15, faculty technology & faculty grants and library support. Since 1952, the VFIC has raised over $125 million through annual solicitations of individuals, corporations, and foundations on behalf of 15 well-established and well-respected private higher education institutions. An endowment of $15 million from bequests of trustees and other patrons supplements the distribution dollars to the colleges. In 2008, approx. $2 million went directly to the colleges from the VFIC. Almost all of that $2 million supports financial aid and scholarships. VFIC's colleges enroll more than 20,000 undergraduate students; over 65% receive some financial aid. The VFIC is a member of The Foundation for Independent Higher Education (FIHE) which represents 37 state and regional funds and over 600 institutions of higher education nationwide, with more than 1.2 million students annually attending these colleges and universities. The VFIC is a not-for-profit corporation tax exempt under section 501(c)(3) of the Internal Revenue Code. Contributions are tax deductible to the extent allowable by law. Copies of the financial statement for the fiscal year ending May 31, 2008, audited by the accounting firm of Mitchell Wiggins & Company LLC, are available upon request.
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