{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/23.1-108.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/23.1-108.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/23.1-108.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/23.1-108.html"}],"law_id":355070,"edition_id":2,"section_id":355070,"structure_id":50792,"section_number":"23.1-108","catch_line":"Foundations; annual reporting requirements","history":"2020, c. 511.","full_text":"A\n\nEach public institution of higher education shall release an annual report regarding foundations associated with the institution setting forth foundation expenses. The annual report shall include:\n\n1\n\nThe total annual expenditures by each foundation;\n\n2\n\nThe percentage of expenditures used for scholarships or financial aid by each foundation;\n\n3\n\nThe percentage of expenditures used for faculty compensation by each foundation;\n\n4\n\nThe percentage of expenditures used for program costs by each foundation;\n\n5\n\nThe percentage of expenditures used for equipment and technology by each foundation;\n\n6\n\nThe percentage of expenditures used for administrative support by each foundation; and\n\n7\n\nThe percentage of expenditures used for executive compensation by each foundation.\n\nB\n\nThis section shall not apply to the Virginia Community College System.\n\n","order_by":null,"text":{"0":{"id":1322200,"text":"Each public institution of higher education shall release an annual report regarding foundations associated with the institution setting forth foundation expenses. The annual report shall include:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1322201,"text":"The total annual expenditures by each foundation;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1322202,"text":"The percentage of expenditures used for scholarships or financial aid by each foundation;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":1322203,"text":"The percentage of expenditures used for faculty compensation by each foundation;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":1322204,"text":"The percentage of expenditures used for program costs by each foundation;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":1322205,"text":"The percentage of expenditures used for equipment and technology by each foundation;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":1322206,"text":"The percentage of expenditures used for administrative support by each foundation; and","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":1322207,"text":"The percentage of expenditures used for executive compensation by each foundation.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"B"},"8":{"id":1322208,"text":"This section shall not apply to the Virginia Community College System.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A7"}},"ancestry":[{"id":50792,"edition_id":2,"name":"General Provisions","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":50784,"metadata":{"child_laws":11,"child_structures":0},"date_created":"2026-08-02 02:33:19","date_modified":"2026-08-02 12:31:13","permalink":{"id":1411595,"object_type":"structure","relational_id":50792,"identifier":"2","token":"23.1\/I\/1\/2","url":"\/23.1\/I\/1\/2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50784,"edition_id":2,"name":"Definitions and General Provisions","identifier":"1","label":"chapter","depth":3,"order_by":1,"parent_id":50783,"metadata":{"child_laws":12,"child_structures":2},"date_created":"2026-08-02 02:33:18","date_modified":"2026-08-02 12:31:13","permalink":{"id":1411587,"object_type":"structure","relational_id":50784,"identifier":"1","token":"23.1\/I\/1","url":"\/23.1\/I\/1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50783,"edition_id":2,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":50782,"metadata":{"child_laws":61,"child_structures":9},"date_created":"2026-08-02 02:33:18","date_modified":"2026-08-02 12:31:13","permalink":{"id":1411585,"object_type":"structure","relational_id":50783,"identifier":"I","token":"23.1\/I","url":"\/23.1\/I\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50782,"edition_id":2,"name":"Institutions of Higher Education; Other Educational and Cultural Institutions","identifier":"23.1","label":"title","depth":1,"order_by":62,"parent_id":null,"metadata":{"child_laws":594,"child_structures":95},"date_created":"2026-08-02 02:33:18","date_modified":"2026-08-02 12:31:13","permalink":{"id":1411583,"object_type":"structure","relational_id":50782,"identifier":"23.1","token":"23.1","url":"\/23.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":355043,"structure_id":50792,"section_number":"23.1-101","catch_line":"Endowment funds of public institutions of higher education","url":"\/23.1-101\/","token":"23.1\/I\/1\/2\/23.1-101","metadata":false},{"id":355055,"structure_id":50792,"section_number":"23.1-102","catch_line":"Chief executive officer of each public institution of higher education; duties","url":"\/23.1-102\/","token":"23.1\/I\/1\/2\/23.1-102","metadata":false},{"id":355054,"structure_id":50792,"section_number":"23.1-102.1","catch_line":"Executive officers; salaries","url":"\/23.1-102.1\/","token":"23.1\/I\/1\/2\/23.1-102.1","metadata":false},{"id":355065,"structure_id":50792,"section_number":"23.1-103","catch_line":"Localities; conveyance of property and appropriation of funds to Commonwealth for certain educational purposes","url":"\/23.1-103\/","token":"23.1\/I\/1\/2\/23.1-103","metadata":false},{"id":355066,"structure_id":50792,"section_number":"23.1-104","catch_line":"Disposition of lost or abandoned property","url":"\/23.1-104\/","token":"23.1\/I\/1\/2\/23.1-104","metadata":false},{"id":355067,"structure_id":50792,"section_number":"23.1-105","catch_line":"Contracts with certain nonprofit private institutions of higher education","url":"\/23.1-105\/","token":"23.1\/I\/1\/2\/23.1-105","metadata":{"court_decisions":""}},{"id":355068,"structure_id":50792,"section_number":"23.1-106","catch_line":"Formation of not-for-profit benefits consortium","url":"\/23.1-106\/","token":"23.1\/I\/1\/2\/23.1-106","metadata":false},{"id":355069,"structure_id":50792,"section_number":"23.1-107","catch_line":"Private institutions of higher education; human research review committees","url":"\/23.1-107\/","token":"23.1\/I\/1\/2\/23.1-107","metadata":false},{"id":355070,"structure_id":50792,"section_number":"23.1-108","catch_line":"Foundations; annual reporting requirements","url":"\/23.1-108\/","token":"23.1\/I\/1\/2\/23.1-108","metadata":false},{"id":355071,"structure_id":50792,"section_number":"23.1-109","catch_line":"Public-private partnerships; wind and solar power","url":"\/23.1-109\/","token":"23.1\/I\/1\/2\/23.1-109","metadata":false},{"id":355072,"structure_id":50792,"section_number":"23.1-110","catch_line":"Medical schools to report information concerning fourth-year medical students to the Department of Health; Eligible Health Care Provider Reserve Directory","url":"\/23.1-110\/","token":"23.1\/I\/1\/2\/23.1-110","metadata":false}],"previous_section":{"id":355069,"structure_id":50792,"section_number":"23.1-107","catch_line":"Private institutions of higher education; human research review committees","url":"\/23.1-107\/","token":"23.1\/I\/1\/2\/23.1-107","metadata":false},"next_section":{"id":355071,"structure_id":50792,"section_number":"23.1-109","catch_line":"Public-private partnerships; wind and solar power","url":"\/23.1-109\/","token":"23.1\/I\/1\/2\/23.1-109","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-108\/","history_text":"<p>This law was first created in 2020. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP0511\">511<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1411629,"object_type":"law","relational_id":355070,"identifier":"23.1-108","token":"23.1\/I\/1\/2\/23.1-108","url":"\/23.1-108\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/23.1-108\/","token":"23.1\/I\/1\/2\/23.1-108","dublin_core":{"Title":"Foundations; annual reporting requirements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-108","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Each <span class=\"dictionary\">public institution of higher education<\/span> shall release an annual report regarding foundations associated with the institution setting forth foundation expenses. The annual report shall include: <a id=\"paragraph-1322200\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> The total annual expenditures by each foundation; <a id=\"paragraph-1322201\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> The percentage of expenditures used for scholarships or financial aid by each foundation; <a id=\"paragraph-1322202\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> The percentage of expenditures used for faculty compensation by each foundation; <a id=\"paragraph-1322203\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A4\" class=\"indent-1\"><p><span class=\"prefix-number\">4.<\/span> The percentage of expenditures used for program costs by each foundation; <a id=\"paragraph-1322204\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A5\" class=\"indent-1\"><p><span class=\"prefix-number\">5.<\/span> The percentage of expenditures used for equipment and technology by each foundation; <a id=\"paragraph-1322205\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A5\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A6\" class=\"indent-1\"><p><span class=\"prefix-number\">6.<\/span> The percentage of expenditures used for administrative support by each foundation; and <a id=\"paragraph-1322206\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A6\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A7\" class=\"indent-1\"><p><span class=\"prefix-number\">7.<\/span> The percentage of expenditures used for executive compensation by each foundation. <a id=\"paragraph-1322207\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#A7\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> This section shall not apply to the Virginia Community College <span class=\"dictionary\">System<\/span>. <a id=\"paragraph-1322208\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-108\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nFOUNDATIONS; ANNUAL REPORTING REQUIREMENTS (\u00a7 23.1-108)\n\nA. Each public institution of higher education shall release an annual report\nregarding foundations associated with the institution setting forth foundation\nexpenses. The annual report shall include:\n\n   1. The total annual expenditures by each foundation;\n\n   2. The percentage of expenditures used for scholarships or financial aid by\n   each foundation;\n\n   3. The percentage of expenditures used for faculty compensation by each\n   foundation;\n\n   4. The percentage of expenditures used for program costs by each foundation;\n\n   5. The percentage of expenditures used for equipment and technology by each\n   foundation;\n\n   6. The percentage of expenditures used for administrative support by each\n   foundation; and\n\n   7. The percentage of expenditures used for executive compensation by each\n   foundation.\n\nB. This section shall not apply to the Virginia Community College System.\n\nHISTORY: 2020, c. 511.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}