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VIRGINIA SURVEYORS FOUNDATION, LTD
Virginia Surveyors Foundation was created in April, 1970, with the stated purpose of advancing Surveying education in the Commonwealth and promoting other aspects of the profession as they may determine in the future. Leading up to the creation of this organization, the Virginia Association of Surveyors passed a resolution “sanctioning and approving the creation of an autonomous non-profit corporation”. The founding directors consisted of 12 individuals including John Foster was the first President of VAS.
The Virginia Surveyors Foundation, LTD, continues as an autonomous, non-profit corporation organized under the laws of the Commonwealth of Virginia and maintains a 501(c3) designation with the Internal Revenue Service.
The Virginia Surveyors Foundation, LTD, is managed by 3 officers elected annually consisting of a Chairman, Vice-chairman, and Secretary / Treasurer. Membership generally consists of individuals who are also members of the Virginia Association of Surveyors, but is not restricted to members of the VAS. An Annual Business meeting is held each year generally at the same time and place as the annual VAS meeting. Other meetings of the membership may be called as needed.
SOURCES of INCOME
The Foundation as 4 main sources of income as follows:
- Gifts and bequests to the Foundation
- Annual membership dues
- Investment income
- Fund raising projects such as Surveyors & Statesmen, George Washington Atlas, and VDOT County Road Maps.
HOW FUNDS ARE DISTRIBUTED & RESTRICTIONS
The original purpose of supporting Surveying Education is still the over riding goal of the Foundation. In recent years there have been 4 main areas of concentration as follows:
- Direct grants to surveying programs
- Direct scholarship awards to students
- Student travel expenses to Surveying conferences
- Endow the John Foster Scholarship at ETSU.
While there are no direct restrictions to the expenditure of funds, we do give preference to expenditures that will benefit Virginia students and educational programs that are beneficial to Virginia surveyors. All expenditures are approved through an annual budget approved by the membership or special expenditures may be approved by the officers between meetings of the membership.