| Name: | Old Dominion University Research Foundation |
| Date Established: | Established in 1965, Incorporated February 7, 1967 |
| Type of Corporation: | Private not-for-profit |
| Tax Status: | 501 (c) (3) Tax Exempt 509 (a) (3) Private Foundation |
| Purpose: | “The Corporation shall be organized and conduct its operations for the exclusive benefit of Old Dominion University, a Commonwealth of Virginia institution of higher education. The purpose of the corporation is to serve as the administrative, financial and fiscal agent for Old Dominion University in research and sponsored program administration.” |
| Mission: | Old Dominion University Research Foundation collaborates with the university for the successful administration of sponsored programs by providing responsive and cost-effective support. |
| Fiscal Year: | July 1 through June 30 |
| Management: | The business affairs of the corporation shall be managed by a Board of Trustees. |
| Number of Trustees: | Not less than six (6) nor more than twenty (20) members. There shall be one who shall be the president of Old Dominion University. |
| Responsibilities: | The Board of Trustees shall have the powers and duties necessary for the administration of the affairs of the Foundation (Corporation). |
| Quorum: | Minimum of 40% |
| Officers: | President, vice-president, secretary, treasurer, and an executive director. No full-time employee of the university may be an officer. |
| Tenure of Officers: | The president, vice-president, secretary, and treasurer are elected for a one (1) year term. The executive director shall be selected by the board and serves at their pleasure. |
| Committees: |
Executive Committee and other committees as deemed necessary. Current standing committees include:
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| Indemnity: | The Research Foundation shall indemnify each trustee and officer and may indemnify or agree to indemnify any person who is serving or has served as an employee of the Foundation. |
| Insurance: | Directors’ and officers’ liability coverage is provided through a policy with Travelers Casualty and Assurance Company. |
Board members and officers have the duty and responsibility to manage the affairs of the Research Foundation. These duties and responsibilities include, but are not limited to: