VMI Foundation
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.
VMI Foundation at a glance
In short: VMI Foundation gave $23.2M across 3 grants in 2025 (avg $7.7M), mostly in Virginia. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $23,179,400
- +5.1% vs 2024
- Grants made (2025)
- 3
- -84.2% vs 2024
- Average grant
- $7,726,467
- +565.9% vs 2024
- Median grant
- $3,417,712
- Total assets
- $691,343,869
- +7.7% vs 2024
- Primary geography
- Virginia (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to VMI Foundation
Open Grants
3 open opportunities from VMI Foundation
Braver Angels College Debates and Discourse Program - VMI Community of Practice
VMI Foundation
Amount
Varies
Deadline
Deadline not published
Coach Ike Sherlock and Jesse Waltz '85 Scholarship
VMI Foundation
Amount
Varies
Deadline
Deadline not published
Peay Merit Scholarship
VMI Foundation
Amount
Full cost of tuition, room, board, and fees
Deadline
Deadline not published
Who VMI Foundation funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Virginia Military Institute ($18.6M). Together the top 3 received $23.2M.
Grant Size Distribution
83 grants across all recorded years
The most common grant size was in the $1–5M range: 26 grants of 83 (31%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How VMI Foundation gives
- Giving grew 37% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $17.0M (2022) to $23.2M (2025). In 2025 it made 3 grants totaling $23.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Virginia Military Institute Lexington, VA | Various Program Services | $18,556,130 |
| VMI Alumni Agencies Board Lexington, VA | Administrative Support | $3,417,712 |
| VMI Alumni Association Lexington, VA | administrative support | $1,205,558 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $691,343,869 | $26,717,885 | $28,632,189 | $23,179,400 | 3 | $10,882,334 |
| 2024 | $642,086,851 | $26,268,516 | $25,973,445 | $22,046,593 | 19 | $13,628,001 |
| 2023 | $584,168,697 | $36,993,722 | $27,100,301 | $19,991,136 | 20 | $13,419,092 |
| 2022 | $539,387,112 | $24,254,314 | $26,063,917 | $16,959,674 | 20 | $6,932,153 |
| 2021 | $567,221,875 | $26,799,966 | $22,967,138 | $17,101,530 | 21 | $6,187,650 |
About VMI Foundation
Based on IRS filings
VMI Foundation is a public charity focused on Education, based in Lexington, VA. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $691.3M in total assets. In 2025, it awarded 3 grants totaling $23.2M. Net investment income was $10.9M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
VMI Foundation is led by David L Prasnicki, Chief Executive Officer since 2022 (on filings since 2021); 4 of 34 officers listed in 2025 are compensated.
Officers on the 2025 filing
David L Prasnicki
Chief Executive Officer
Chief Financial Officer → Chief Executive Officer, 2022
On filings since 2021
2 hrs/week
No compensation reported
Meade B King
Chief Operating Officer
On filings since 2021
40 hrs/week
$135K (2021) → $147K (2025)
Theresa I Conrad
Vice President Development
On filings since 2023
40 hrs/week
$154K (2023) → $164K (2025)
Gregory M Cavallaro
Senior Major Gift Officer
On filings since 2024
40 hrs/week
$152K (2024) → $143K (2025)
Virginia Cameron
Executive Assistant & Corporate Secretary
New on the 2025 filing
40 hrs/week
$52K (2025)
Crissy S Elliott
Chief Financial Officer
Financial Controller → Chief Financial Officer, 2022
On filings since 2021
2 hrs/week
No compensation reported
Daryl L Deke
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Elise G Woodworth
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Ernesto V Sampson Jr.
Board Member
Vice President of Administrator → President, 2024
President → Board Member, 2025
On filings since 2021
2 hrs/week
No compensation reported
Glen N Jones
Board Member
On filings since 2021
2 hrs/week
No compensation reported
John F Fick III
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Jonathan T Moody
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Kimber L Latsha JD
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Kurt A Polk
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Sterling T Sweeney
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Thomas Henry Zarges
Board Member
Vice President of Fundraising → President, 2022
President → Board Member, 2024
On filings since 2021
2 hrs/week
No compensation reported
William L. Taliaferro Jr.
Board Member
On filings since 2021
2 hrs/week
No compensation reported
Christopher R Gorman
Board Member
On filings since 2022
2 hrs/week
No compensation reported
Garland Gray II
Board Member
On filings since 2022
2 hrs/week
No compensation reported
Johnathan A Mayo
Board Member
On filings since 2022
2 hrs/week
No compensation reported
Dorcas G Wilkinson
Board Member
On filings since 2023
2 hrs/week
No compensation reported
John P Williams
Board Member
On filings since 2023
2 hrs/week
No compensation reported
Daniel P Thornton
Board Member
On filings since 2024
2 hrs/week
No compensation reported
Gale F Sommers
Board Member
On filings since 2024
2 hrs/week
No compensation reported
Kevin A Ryan
Financial Controller
On filings since 2024
2 hrs/week
No compensation reported
Robert B Gore
Board Member
On filings since 2024
2 hrs/week
No compensation reported
Colonel Joseph P Moan USAF Ret
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Commander Bree A Guiterman
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Lara T Chambers
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Lt Gen Carl A Strock USA Ret
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Matthew B Hamilton
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Matthew R Hemenez
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Robert M Michie
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Sean P Cantrell
Board Member
New on the 2025 filing
2 hrs/week
No compensation reported
Former officers (29)
- Former: Amy S. Reid (2021–2024) — Corporate Secretary
- Former: Lt Col Charles L. Toomey (2021–2024) — Board Member
- Former: Stephen M. Goddard (2021–2024) — Board Member
- Former: Com Bree A. Guiterman (2022–2024) — Board Member
- Former: Lt Gen Carl A. Strock (2022–2024) — Board Member
- Former: Anthony U. Moore (2023–2024) — B2
- Former: Col Joseph P. Moan (2024) — Board Member
- Former: Alexander M. Earle Jr. (2021–2023) — Board Member
- Former: Kerry D. Kirk (2021–2023) — Board Member
- Former: Richard W. Flowers (2021–2023) — Board Member
- Former: Maj Elizabeth D. Moskowitz (2022–2023) — Board Member
- Former: Bland Massie Jr. (2023) — Board Member
- Former: William G. Robertson (2023) — Board Member
- Former: Brooke H. Pendleton (2021–2022) — Board Member
- Former: Elizabeth D. Camp (2021–2022) — Board Member
- Former: John D. Adams (2021–2022) — Vice President of Fundraising
- Former: Lt Gen Richard A. Hack (2021–2022) — Board Member
- Former: Stephen M. Maconi (2021–2022) — CEO
- Former: Terrie I. Conrad (2021–2022) — Vice President Development
- Former: Thomas S. Greenspon (2021–2022) — Board Member
- Former: W. Gregory Robertson (2021–2022) — Board Member
- Former: Spencer W. Wilkinson (2022) — Board Member
- Former: Cdr Bree A. Guiterman (2021) — Board Member
- Former: Gary J. Taylor (2021) — Board Member
- Former: Gerald J. Acuff Jr. (2021) — Board Member
- Former: Samuel N. Stocks (2021) — Board Member
- Former: Stephen E. Hupp (2021) — President
- Former: Thomas M. Boyd (2021) — Board Member
- Former: Tw Williamson Jr. (2021) — Board Member
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $164K, to Theresa I Conrad (Vice President Development). 4 officers or directors reported compensation on that filing.
Frequently asked questions about VMI Foundation
How much does VMI Foundation give each year?
VMI Foundation gave $23.2M across 3 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $22.0M across 19 grants.
What is VMI Foundation's typical grant size?
VMI Foundation's median grant in 2025 was $3,417,712, and its average grant was $7,726,467, across 3 grants on its 2025 IRS Form 990.
Where does VMI Foundation give grants?
VMI Foundation gives mostly in Virginia: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Lexington, VA (3 grants).
Does VMI Foundation give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on VMI Foundation's 2025 IRS Form 990 were described as general or operating support.
How large is VMI Foundation?
VMI Foundation reported $691.3M in total assets on its 2025 IRS Form 990. Its revenue that year was $26.7M.
What is VMI Foundation?
VMI Foundation is a public charity focused on Education, based in Lexington, VA. It holds $691.3M in total assets as of 2025.
What is VMI Foundation's EIN?
VMI Foundation's EIN (Employer Identification Number) is 54-0505966. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS November 15, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 15, 2022)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 15, 2023)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 15, 2024)
- Updated Form 990 for fiscal year 2025 (received by the IRS November 14, 2025)
- IRS filings on file for fiscal years 2021–2025
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The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from VMI Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
VMI Foundation down — hundreds of funders to go?