FY 23 SWVHEC Annual Report

SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER FOUNDATION

Mission Statement:

The Southwest Virginia Higher Education Center Foundation provides administrative services to support the Center entities including real property management for the benefit of the Center; and to use and administers gifts, grants, bequests and devises for the benefit of the Center. Grow and expand board of trustees to represent entire region Create an endowment to support scholarships and future programming in perpetuity Establish and enhance relationships to continue to serve the Higher Education Center Goals:

$138K The Foundation manages and oversees the Southwest Virginia Higher Education Center Energy Center, located in Bristol, Virginia. Annual rental income from tenants, which can be used for programmatic purposes, is $138,000 annually.

The Foundation has committed $200,000 to leverage other public and private grant applications for the Southwest Virginia Regional Simulation Lab for Nursing and Allied Health and Virtual Cadaver Lab. $200K $305K The Foundation had an operational budget of $305,000 for fiscal year 2023. This includes $210,378 in grant income and expenses.

Foundation assets including land, buildings and equipment. $6.4M

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