THE FOUNDATION ASKS ALL OF THE PUBLIC AND PRIVATE HIGH SCHOOLS IN VIRGINIA TO NOMINATE ONE GRADUATING SENIOR HIGH SCHOOL STUDENT. THE SCHOLARSHIPS ARE AWARDED TO GRADUATING SENIOR HIGH SCHOOL STUDENTS. THE FOUNDATION GRANTS SCHOLARSHIPS ANNUALLY. THE FOUNDATION PROVIDES THE ABOVE-MENTIONED SERVICES FOR THE FOLLOWING UAF'S: UVA HEALTH FOUNDATION, UVA'S COLLEGE AT WISE FOUNDATION, INC., UVA CURRY SCHOOL OF EDUCATION FOUNDATION, UVA SCHOOL OF ARCHITECTURE FOUNDATION, THE UNIVERSITY OF VIRGINIA MEDICAL SCHOOL FOUNDATION, LEIF EIRIKSSON FOUNDATION, AND THE UNIVERSITY OF VIRGINIA ALUMNI BOARD OF TRUSTEES OF THE ENDOWMENT. BY PROVIDING THESE SERVICES, THE FOUNDATION ENABLES THE UNIVERSITY OF VIRGINIA TO CONCENTRATE MORE RESOURCES (BOTH PERSONNEL AND FINANCIAL) ON RAISING FUNDS FOR ITS EDUCATIONAL PURPOSES. THE FOUNDATION ALSO PROVIDES ADMINISTRATION OF PAYROLL AND BENEFITS FOR SEVERAL UAF'S. THE SERVICES PROVIDED INCLUDE BOOKKEEPING, FINANCIAL ANALYSIS, INVESTMENT ASSISTANCE, BUDGET MANAGEMENT, MANAGEMENT OF AUDIT PROCESS, GENERAL CONSULTING, AND FINANCIAL REPORTING. EACH OF THE UAF'S IS TAX EXEMPT UNDER SECTION 501(C)(3). THE FOUNDATION PROVIDES ACCOUNTING SERVICES TO SOME UNIVERSITY AFFILIATED FOUNDATIONS (UAF'S).
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TO USE AND ADMINISTER GIFTS, GRANTS, BEQUESTS, AND DEVISES FOR THE BENEFIT OF THE UNIVERSITY. TO THAT END, THE FOUNDATION SHALL ENGAGE IN REAL ESTATE ACTIVITIES FOR ONE OR MORE OF THE FOLLOWING REASONS: TO SUPPORT THE UNIVERSITY'S PRIMARY PROGRAMS TO PROVIDE AN INVESTMENT RETURN TO PROVIDE FOR THE REAL ESTATE NEEDS OF THE UNIVERSITY FOR THE NEXT 100 YEARS AND TO IMPROVE THE UNIVERSITY'S BOUNDARIES AND ENTRANCES. TO ENGAGE IN MATTERS PERTAINING TO REAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY. TO PROVIDE ADMINISTRATIVE SERVICES TO UNIVERSITY ENTITIES, UNIVERSITY ASSOCIATED ORGANIZATIONS, OR OTHER ENTITIES INVOLVED IN ACTIVITIES WHICH SUPPORT THE UNIVERSITY.