Board approves foundation in SwitzerlandBy David Nutter
Spectrum Volume 19 Issue 01 - August 29, 1996
The Virginia Tech Board of Visitors has given its approval for the Virginia Tech Foundation to establish a tax-exempt foundation based in Switzerland.
"The creation of this foundation will enable Virginia Tech to more easily receive tax deductible gifts from Swiss citizens," said Charles Steger, vice president for Development and University Relations.
In 1991, the Virginia Tech Foundation, at the request of the Board of Visitors, purchased a home in Riva San Vitale, Switzerland, as the site for the university's Center for European Studies and Architecture. The center is now offering general undergraduate and specialized classes during the regular academic year and in the summer.
The cost of acquiring and renovating the facility has been included in the university capital campaign, the Campaign for Virginia Tech. University officials will be soliciting gifts from Swiss citizens and corporations to reach the center's goal of $4 million and ensure its successful operation.