• The endowment payout for the upcoming fiscal year will remain the same as the FY 19-20 payout of 4.30%. Read the full memo for additional details.

  • Pete Dye left his mark on the golf world and Virginia Tech. A World Golf Hall of Famer, Dye was regarded as one of the game’s great course architects. He is credited with designing more than 130 public and private courses around the globe, including such renowned locations as TPC Sawgrass and Whistling Straits. He is also the artist behind the golf gem nestled between Blacksburg and Radford – the Pete Dye River Course of Virginia Tech.

    Dye, 94, died on Jan. 9, Dye Designs, the company he founded, announced, last week. “We have a world-class golf facility thanks to Pete Dye and Mr. Bill Goodwin and his wife Alice,” said Jay Hardwick, who retired as director of golf operations and head coach of the men’s golf team in 2018 after 36 years at Virginia Tech.

    Dye became involved with the redesign of what was then known as The River Course at the behest of his friends, Virginia Tech alumnus Bill Goodwin and his wife, Alice Goodwin, shortly after the course was acquired by the Virginia Tech Foundation in 2002. The Richmond couple provided the financial support needed for the design and construction of the new course arrangement, which was recognized as a Best New Course by Golf Digest in 2006. Since its formal dedication in 2006, the Goodwins’ investment and Dye’s design have provided Virginia Tech and Southwest Virginia with access to one of the nation’s finest golf course and the Hokies’ golf teams with an elite-level home course.

    Read the full article on the VT News here.

  • WVTF Radio IQ will expand its reach this fall, enhancing its current coverage in the Richmond metro area through the acquisition of the 89.7 FM frequency. This additional frequency will cover the entire Richmond metropolitan area with a robust signal of 20,000+ watts. The acquisition aligns with WVTF’s statewide approach to covering Virginia. WVTF Radio IQ now extends from Wise, Virginia, in the southwestern part of the state, north to Spotsylvania, and east nearly to Williamsburg.

    “The Virginia Tech Foundation’s support of WVTF Radio IQ demonstrates our enduring fulfillment of the university’s motto of Ut Prosim (That I May Serve),” said John Dooley, the foundation’s CEO. “We’ve provided access to news and civil discourse for more than 30 years. This expansion of our broadcast frequency represents an extension of our commitment to serving our listeners and citizens in the commonwealth of Virginia.”

    The Virginia Tech Foundation has operated WVTF since the early 1980s, when it acquired the public radio station from Virginia Western Community College. WVTF’s broadcasting area has grown considerably ever since.

    Read the full article on the VT News here.

  • This fall, Virginia Tech students have a remarkable new learning opportunity: gaining experience in banking and risk management by participating in actual loans with their bank partners with real money from the Virginia Tech Foundation.

    Known as the Credit Corps, the unique experiential learning program is aimed at enhancing students’ skills in credit risk analysis, business analytics, teamwork, and portfolio management. Credit Corps students will be functioning as commercial loan officers, he said. Their responsibilities will include reviewing financial statements, interviewing management at the borrowing companies, identifying risk issues, and managing fund inflows and outflows, as repayments are made and new loans considered.

    “Credit Corps will prepare students for jobs and careers across a wide range of finance career paths and offer financial firms a pipeline of credit-savvy recruits with hands-on experience,” said finance professor George Morgan, who led efforts to develop the program.

    At the same time, the program seeks to earn a competitive return for the Virginia Tech Foundation, Morgan said. The foundation is committing $2 million over four years, or $500,000 a year, to sponsor the program. Credit Corps follows the footsteps of SEED and BASIS, two long-established programs the finance department pioneered to give students experience in stock and bond investing by managing two separate funds of $5 million each for the Virginia Tech Foundation.

    Read the full article on the VT News here.

  • A $3 million grant from the U.S. Economic Development Administration to construct a new state-of-the-art Virginia Seafood Agricultural Research and Extension Center in Hampton, Virginia, paves the way for further economic growth and collaboration in the commonwealth’s $550 million seafood industry.

    Announcing the award last week, U.S. Secretary of Commerce Wilbur Ross stated that the project will assist the fishing and seafood industries across the commonwealth and those located in the Eastern Shore counties of Accomack and Northampton in particular. The new facility, located in a Tax Cuts and Jobs Act-designated Opportunity Zone, is expected to retain 408 jobs.

    The new comprehensive $8.4 million project will be located adjacent to the AREC’s current South King Street location in Hampton. This new 21,700-square-foot facility will have expanded seafood technologies/processing and microbiological laboratories, upgraded aquaculture and fisheries research facilities and water chemistry labs, expanded classrooms, outreach/ demonstration and training facilities, and additional workstations and accommodations for visiting faculty, students, and industry collaborators.

    This announcement follows a list of other partners and stakeholders in the project who have helped contribute funding toward the building’s construction and who recognize the value of investing in research and Extension programs. Other major funding sources include $1.5 million from the City of Hampton, $2.5 million from the Commonwealth of Virginia, and $2 million financed by the Virginia Tech Foundation.

    Read the full article on the VT News here.