HomeMy WebLinkAboutVirginia Aquarium Foundation Presentation to City Council 06242025City Council
Virginia Aquarium Foundation
June 24, 2025
Dan Peterson, Chair
Buffy Barefoot, Treasurer
ABOUT THE
VIRGINIA AQUARIUM
250+ SPECIES
including mammals, fish,
birds & reptiles. Over 5,000
Animals
JUNE 14, 1986
Virginia Aquarium opened
to the public
Over $100 Million
Amount the Foundation has
raised since inception
620,000
visitors in FY-2024
1,013 VOLUNTEERS
working 51,162+
hours annually
OPEN 363 DAYS
Closed on Thanksgiving &
Christmas Day
25 PEOPLE
on the Board of Trustees
10,364 DONORS
to the Aquarium Fund
in FY-2024
Economic impact in Virginia Beach in FY-
2022, supporting 3,000 jobs, and nearly
$85M in labor income
$257 Million
The Virginia Aquarium is the third most visited attraction
in the Commonwealth and is truly “Our Aquarium.” It
represents Virginia Beach’s commitment as a premier
coastal city to protect the ocean and its inhabitants and
educate our citizens and visitors about our environment.
FY 2015–2024
Total: $40,852,597
Cumulative
Foundation Spending
by Category
Capital Purchases
$13,934,692.00
Animals & Exhibits
$3,990,903.00 Education &
Outreach
$8,926,950.00
Research &
Stranding
$8,164,879.00
General &
Administrative
$2,918,319.00
Fundraising
$2,916,854.00
Over the past 10 years, the
Foundation has invested
$13,934,692 in capital
purchases to support the
Virginia Aquarium’s mission.
•FY15: $519,878
•FY16: $104,737
•FY17: $1,953,007
•FY18: $2,035,393
•FY19: $2,695,746
•FY20: $3,384,852
•FY21: $2,816,371
•FY22: $308,829
•FY23: $46,954
•FY24: $68,925
Capital Purchases
Over the past 10 years, the
Foundation has invested
$3,990,903 in animals &
exhibits to support the
Virginia Aquarium’s mission.
•FY15: $408,010
•FY16: $424,364
•FY17: $314,542
•FY18: $478,924
•FY19: $556,527
•FY20: $439,206
•FY21: $286,871
•FY22: $172,564
•FY23: $521,003
•FY24: $388,892
Animals & Exhibits
Over the past 10 years, the
Foundation has invested
$8,926,950 in education &
outreach to support the
Virginia Aquarium’s mission.
•FY15: $592,892
•FY16: $843,954
•FY17: $1,022,139
•FY18: $914,819
•FY19: $1,008,830
•FY20: $779,145
•FY21: $666,866
•FY22: $933,412
•FY23: $1,092,304
•FY24: $1,072,589
Education & Outreach
Over the past 10 years, the
Foundation has invested
$8,164,879 in research &
stranding to support the
Virginia Aquarium’s mission.
•FY15: $1,571,247
•FY16: $858,675
•FY17: $760,651
•FY18: $712,970
•FY19: $682,070
•FY20: $585,330
•FY21: $891,477
•FY22: $704,310
•FY23: $658,102
•FY24: $740,047
Research & Stranding
Over the past 10 years, the
Foundation has invested
$2,918,319 in general &
administrative to support the
Virginia Aquarium’s mission.
•FY15: $202,223
•FY16: $215,228
•FY17: $264,326
•FY18: $253,844
•FY19: $227,476
•FY20: $283,741
•FY21: $205,124
•FY22: $424,126
•FY23: $447,848
•FY24: $328,706
General &
Administrative
Over the past 10 years, the
Foundation has invested
$2,916,854 in fundraising to
support the Virginia
Aquarium’s mission.
•FY15: $241,918
•FY16: $305,199
•FY17: $390,355
•FY18: $289,382
•FY19: $376,356
•FY20: $254,155
•FY21: $168,710
•FY22: $264,759
•FY23: $297,314
•FY24: $328,706
Fundraising
10 Years
$40,852,597
40 Years
Over $100 Million
*Does not include depreciation, gain or loss
on sale of fixed assets, and in-kind
salaries/benefits.
Total Foundation
Expenditures
Strategic Initiatives Overview and
Projected Timeline:
•The Foundation conducted an asset valuation in FY25.
•The City and Foundation jointly conducted a structural assessment to determine
the useful life of core exhibits, including the Seal Tank, Turtle Tank, and Shark
Tank.
•The City and Foundation jointly engaged a third-party firm to evaluate alternative
operational models.
•The Foundation is engaging a lobbying firm to pursue additional funding from the
Commonwealth of Virginia to support the development of a new world-class
aquarium.
•To Date, the Foundation has invested over $500,000 to support these efforts.
Foundation Asset Assessment
Completed on Mach 19, 2025, the total value of the
Foundation’s assets are $18,171,000 comprised of:
•$16,278,980 Value for Animals and Exhibits
•$1,892,314 Value for operations.
Foundation and City Structural
Assessment:
•Engaged Animal Underwater Services; assessment completed on
April 7, 2025. With an additional investment on both the
Foundation and City’s part, we can extend the useful life of the
Seal Tank, Shark Tank, and Turtle Tank by an estimated 8–10 years
through targeted repairs.
•This ensures we have adequate time to develop and build new,
purpose-designed habitats that meets the long-term needs of
these animals.
•Estimated project duration: Three consecutive years of active
construction
Operational Assessment
•Engaged Canopy Strategic Partners January 2025
•Received initial update and Aquarium operating
efficiency, which noted only an operational
deficit of $1.6 million per year.
•Final report still on track for Fall 2025.
Lobby Firm
•At the 6/18/2025 Foundation Board Meeting the
Board unanimously approved engaging two lobby
firms: Commonwealth Strategy Group and RivCo,
to start a strategic plan to seek State Funding in
Richmond.
•This is a multi-year, evolving effort that will require
continuous engagement.
Begin Planning for Future
Next Steps
THANK YOU