WHEREAS, the Virginia Tech Foundation, Inc., an organization dedicated to advancing the goals and objectives of Virginia Polytechnic Institute and State University by effectively overseeing the university's assets and financial portfolio, celebrates its 75th anniversary in 2023; and

WHEREAS, founded as the Virginia Polytechnic Institute Educational Foundation in 1948, what is today the Virginia Tech Foundation was initially directed toward increasing gifts and endowments to benefit the university; and

WHEREAS, after fundraising at Virginia Polytechnic Institute and State University (Virginia Tech) shifted to the university, the Virginia Tech Foundation focused its efforts on creating, managing, and disbursing assets to further the university's educational missions; and

WHEREAS, as a result of its sage stewardship of Virginia Tech's donations and gifts, the Virginia Tech Foundation has seen Virginia Tech's endowment grow from $10 million in 1977 to more than $1.3 billion in 2020; and

WHEREAS, Virginia Tech's prosperity and success have been made possible by the tireless efforts of the Virginia Tech Foundation's staff, who are guided by both a strong sense of fiduciary responsibility and a passion for Virginia Tech; and

WHEREAS, the Virginia Tech Foundation has been an integral part of Virginia Tech's progress over the past 75 years as the organization has helped to develop the university into one of the nation's preeminent institutions of higher education; now, therefore, be it

RESOLVED by the Senate of Virginia, That the Virginia Tech Foundation, Inc., hereby be commended on the occasion of its 75th anniversary; and, be it

RESOLVED FURTHER, That the Clerk of the Senate prepare a copy of this resolution for presentation to the Virginia Tech Foundation, Inc., as an expression of the Senate of Virginia's admiration for its history and its contributions to the Commonwealth.