Liabilities / Assets
88th percentile
Higher debt load relative to assets than 88% of similar nonprofits.
990 • Fiscal year 2021 • EIN 54-1323858
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
Liabilities / Assets
88th percentile
Higher debt load relative to assets than 88% of similar nonprofits.
Liabilities / Revenue
78th percentile
Higher debt load relative to revenue than 78% of similar nonprofits.
Net Margin
45th percentile
Higher net margin than 45% of similar nonprofits.
Top Officer Pay
96th percentile
Higher top officer pay than 96% of similar nonprofits.
Top officer pay equals 12.3% of source-year revenue.
Asset Growth
72nd percentile
Faster asset growth than 72% of similar nonprofits.
Revenue Growth
41st percentile
Faster revenue growth than 41% of similar nonprofits.
Assets
Up$2,147,885
Up $413,381 (+24%) from 2020
Net Assets
Up$745,002
Up $363,225 (+95%) from 2020
Liabilities
Up$1,402,883
Up $50,156 (+3.7%) from 2020
Revenue
Up$3,037,241
Up $149,389 (+5.2%) from 2020
Expenses
Down$2,743,182
Down $66,415 (-2.4%) from 2020
Net Income
Up$294,059
Up $215,804 (+276%) from 2020
To promote, encourage, and market scientific research by the faculty, staff and students solely for the benefit of virginia polytechnic institute and state university (virginia tech).
The organization's mission is to promote scientific research by the faculty, staff, and students solely for the benefit of virginia polytechnic institute and state university.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $331,450 | $923,780 | ▲ $592,330 |
| Accounts Receivable | $1,034,241 | $764,322 | ▼ $269,919 |
| Investments Other Securities | $361,324 | $447,977 | ▲ $86,653 |
| Prepaid Expenses and Deferred Charges | $4,033 | $9,607 | ▲ $5,574 |
| Land, Buildings, and Equipment, Net | $3,456 | $2,199 | ▼ $1,257 |
| Total Assets | $1,734,504 | $2,147,885 | ▲ $413,381 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $852,727 | $902,883 | ▲ $50,156 |
| Other Liabilities | $500,000 | $500,000 | → $0 |
| Total Liabilities | $1,352,727 | $1,402,883 | ▲ $50,156 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $381,777 | $745,002 | ▲ $363,225 |
| Total Net Assets Fund Balance | $381,777 | $745,002 | ▲ $363,225 |
| Total Liabilities and Net Assets / Fund Balance | $1,734,504 | $2,147,885 | ▲ $413,381 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $2,199 | $10,453 | $12,652 |
| Other Securities | $1,469 | - | - |
| Name | Title | Other | Total |
|---|---|---|---|
| Dr Daniel Sui | Chair | $127,814 | $127,814 |
| Name | Title |
|---|---|
| Arthur Spivy | Director |
| Chiny Driscoll | Director |
| Dr Brett Malone | Director |
| Dr Jennifer Reynolds | Director |
| Dr Joseph Meredith | Director |
| Dr Vinod Chachra | Director |
| Dr X J Meng | Director |
| James Ramey | Director |
| John Newby | Director |
| Ken Miller | Director |
| Nelson Chu | Director |
| Robert Bertin | Director |
| Justice Elizabeth a Mcclanahan | Secretary/treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Thomas Horstemeyer LLP | Legal | 3200 WINDY HILL RD SE STE 1600E, Atlanta, GA 30339 | $377,663 |
| Johnson Marcou & Isaacs LLC | Legal | PO BOX 691, Hoschton, GA 30548 | $149,544 |
| Computer Packages | Legal | 11 N WASHINGTON STREET STE 300, Rockville, MD 20850 | $139,477 |
| Blank Rome | Legal | 1825 EYE STREET NW, Washington, DC 20006 | $116,085 |
| Line Item | Amount |
|---|---|
| Other Expenses | $1,929,218 |
| Grants and Similar Amounts Paid | $651,409 |
| Salaries, Compensation, and Employee Benefits | $162,555 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $651,409 | - | - | $651,409 |
| Other Salaries and Wages | - | $125,644 | - | $125,644 |
| Fees for Services Accounting | - | $29,200 | - | $29,200 |
| Pension Plan Contributions | - | $16,273 | - | $16,273 |
| Occupancy | - | $11,444 | - | $11,444 |
| Insurance | - | $11,055 | - | $11,055 |
| Payroll Taxes | - | $10,575 | - | $10,575 |
| Other Employee Benefits | - | $10,063 | - | $10,063 |
| Office Expenses | - | $9,055 | - | $9,055 |
| Other Expenses | $875,984 | $8,831 | - | $8,831 |
| Interest | - | $5,800 | - | $5,800 |
| Fees for Services Legal | - | $1,623 | - | $1,623 |
| Depreciation Depletion | - | $1,257 | - | $1,257 |
| All Other Expenses | - | $212 | - | $212 |
| Total Functional Expenses | $2,466,748 | $276,434 | $0 | $2,743,182 |
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $2,743,182 |
| Expenses per Audited Statements | $1,803,828 |
| Total Expenses per Audited Statements | $1,803,828 |
| Expenses Not Reported on Financial Statements | $939,354 |
| Other Expense Adjustments | $939,354 |
| Expenses Not Reported on Form 990 | $0 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Virginia Polytechnic Institute & State University | Blacksburg, VA | 115 | Consultingcontract Services | $651,409 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Notes Payable to Vtf | $500,000 |
“The form 990 is prepared by the organization's independent accounting firm brown edwards & company llp. The return is then reviewed by management prior to filing with the irs. Either the president or the secretary/treasurer reviews the form 990 before they sign it. The controller reviews all date before it is filed.”
“Conflict of interest policy vtip follows the virginia polytechnic institute and state university conflict of interest policy which requires immediate reporting of any new potential conflicts of interest and an annual update of these conflicts.”
“Compensation process for officers the chairman of the board, dr. G. Don taylor, establishes the compensation. The chairman uses statistics from the association for university technology managers (autm) for comparisons to determine the compensation.”
“Public disclosure the organization makes its conflict of interest policy available to the public via its website. Governing documents and audited financial statements are available to the public upon request.”
“There was no change to the company's oversight process in the current year.”
“The internal revenue service has ruled that vtip, inc. Qualifies under section 501(c)(3) of the internal revenue code and is therefore not generally subject to income taxes under present tax laws. Management of vtip, inc. Believes that any income tax liability resulting from unrelated business income for the years ended june 30, 2021 and 2020 would not have a significant impact on its results of activities. Vtip has analyzed filing positions in the federal and state jurisdictions where it is required to file income tax returns, including its status as a tax-exempt organization, and no reserves for uncertain tax positions, interest, or penalties, have been recorded in the financial statements.”
“Royalty expense 939,355. Rounding -3.”
“Royalty expenses 939,355. Rounding -1.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990/AccountantCompileOrReviewInd | 0 | 0 |
| IRS990/AccountsPayableAccrExpnssGrp/BOYAmt | 0 | 852727 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 902883 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 1034241 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 764322 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | THE ORGANIZATION'S MISSION IS TO PROMOTE SCIENTIFIC RESEARCH BY THE FACULTY, STAFF, AND STUDENTS SOLELY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. |
| IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt | 0 | 212 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 212 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | 1 |
| IRS990/AuditCommitteeInd | 0 | 1 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
| IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | MARGARET ROSE |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 5402311231 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 1311 RESEARCH CENTER DRIVE STE 2057 |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | BLACKSBURG |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | VA |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 24060 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | 0 |
| IRS990/BusinessRlnWithFamMemInd | 0 | 0 |
| IRS990/BusinessRlnWithOrgMemInd | 0 | 0 |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 331450 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 923780 |
| IRS990/ChangeToOrgDocumentsInd | 0 | 0 |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 4 |
| IRS990/CollectionsOfArtInd | 0 | 0 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
| IRS990/CompensationProcessCEOInd | 0 | 1 |
| IRS990/CompensationProcessOtherInd | 0 | 0 |
| IRS990/ConflictOfInterestPolicyInd | 0 | 1 |
| IRS990/ConservationEasementsInd | 0 | 0 |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | 0 |
| IRS990/ContractorCompensationGrp/CompensationAmt | 0 | 377663 |
| IRS990/ContractorCompensationGrp/CompensationAmt | 1 | 149544 |
| IRS990/ContractorCompensationGrp/CompensationAmt | 2 | 139477 |
| IRS990/ContractorCompensationGrp/CompensationAmt | 3 | 116085 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 0 | 3200 WINDY HILL RD SE STE 1600E |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 1 | PO BOX 691 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 2 | 11 N WASHINGTON STREET STE 300 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 3 | 1825 EYE STREET NW |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 0 | ATLANTA |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 1 | HOSCHTON |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 2 | ROCKVILLE |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 3 | WASHINGTON |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd | 0 | GA |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd | 1 | GA |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd | 2 | MD |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd | 3 | DC |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd | 0 | 30339 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd | 1 | 30548 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd | 2 | 20850 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd | 3 | 20006 |
| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 0 | THOMAS HORSTEMEYER LLP |
| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 1 | JOHNSON MARCOU & ISAACS LLC |
| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 2 | COMPUTER PACKAGES |
| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 3 | BLANK ROME |
| IRS990/ContractorCompensationGrp/ServicesDesc | 0 | LEGAL |
| IRS990/ContractorCompensationGrp/ServicesDesc | 1 | LEGAL |
| IRS990/ContractorCompensationGrp/ServicesDesc | 2 | LEGAL |
| IRS990/ContractorCompensationGrp/ServicesDesc | 3 | LEGAL |
| IRS990/CreditCounselingInd | 0 | 0 |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 651409 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 651409 |
| IRS990/CYInvestmentIncomeAmt | 0 | 18731 |
| IRS990/CYOtherExpensesAmt | 0 | 1929218 |
| IRS990/CYOtherRevenueAmt | 0 | 0 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 2367101 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 294059 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 162555 |
| IRS990/CYTotalExpensesAmt | 0 | 2743182 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 3037241 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | 0 |
| IRS990/DeductibleArtContributionInd | 0 | 0 |
| IRS990/DeductibleNonCashContriInd | 0 | 0 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt | 0 | 1257 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 1257 |
| IRS990/Desc | 0 | THE COMPANY MANAGED AND MARKETED ALL INTELLECTUAL PROPERTIES (I.E. PRODUCTS AND PROCESSES WHICH MAY BE PROTECTED BY EITHER A PATENT, TRADEMARK, COPYRIGHT, OR TRADE SECRET) DEVELOPED BY FACULTY, STAFF, OR STUDENTS OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). |
| IRS990/DescribedInSection501c3Ind | 0 | 1 |
| IRS990/DisregardedEntityInd | 0 | 0 |
| IRS990/DocumentRetentionPolicyInd | 0 | 1 |
| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 0 |
| IRS990/EmployeeCnt | 0 | 3 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
| IRS990/EngagedInExcessBenefitTransInd | 0 | 0 |
| IRS990/ExpenseAmt | 0 | 2466748 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 0 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
| IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt | 0 | 29200 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 29200 |
| IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt | 0 | 1623 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 1623 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form8282PropertyDisposedOfInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 0 | 40.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 1 | 40.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 2 | 40.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 8 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 9 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 10 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 11 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 12 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 13 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 5 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 6 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 7 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 8 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 9 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 10 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 11 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 12 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 13 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 8182 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 59098 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 58676 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | DR DANIEL SUI |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | JUSTICE ELIZABETH A MCCLANAHAN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | DR X J MENG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | KEN MILLER |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | DR BRETT MALONE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | DR JOSEPH MEREDITH |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | JAMES RAMEY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | ARTHUR SPIVY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | ROBERT BERTIN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | DR VINOD CHACHRA |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | NELSON CHU |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | CHINY DRISCOLL |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | JOHN NEWBY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 13 | DR JENNIFER REYNOLDS |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 119632 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 301464 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 314233 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | SECRETARY/TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | DIRECTOR |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 1985 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 14 |
| IRS990/GrantAmt | 0 | 651409 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 651409 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 651409 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 3037241 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 11 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 11055 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 11055 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 5800 |
| IRS990/InterestGrp/TotalAmt | 0 | 5800 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 18731 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 18731 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 361324 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 447977 |
| IRS990/IRPDocumentCnt | 0 | 112 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 10453 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 3456 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 2199 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 12652 |
| IRS990/LegalDomicileStateCd | 0 | VA |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO PROMOTE, ENCOURAGE, AND MARKET SCIENTIFIC RESEARCH BY THE FACULTY, STAFF AND STUDENTS SOLELY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 381777 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 745002 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 69166 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 381777 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 745002 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 11444 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 11444 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 9055 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 9055 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 10063 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 10063 |
| IRS990/OtherExpensesGrp/Desc | 0 | ROYALTY EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 1 | PATENT & TRADEMARK EXPE |
| IRS990/OtherExpensesGrp/Desc | 2 | REPAIRS |
| IRS990/OtherExpensesGrp/Desc | 3 | BAD DEBT EXPENSE |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 35402 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 8831 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 939355 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 875984 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 939355 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 875984 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 35402 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 8831 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 500000 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 500000 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 125644 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 125644 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 10575 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 10575 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 16273 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 16273 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 4033 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 9607 |
| IRS990/PrincipalOfficerNm | 0 | JUSTICE ELIZABETH A MCCL |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 900099 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | ROYALTY REVENUE |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | REIMBURSEMENT OF PATEN |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | TECH FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1448966 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 905483 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 12652 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 1448966 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 905483 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 12652 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 766321 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 766321 |
| IRS990/PYInvestmentIncomeAmt | 0 | 18549 |
| IRS990/PYOtherExpensesAmt | 0 | 1866098 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 2102982 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 78255 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 177178 |
| IRS990/PYTotalExpensesAmt | 0 | 2809597 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 2887852 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 294059 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RelatedOrganizationsAmt | 0 | 651409 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 1 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 2367101 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | 1 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd | 0 | X |
| IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd | 0 | 1 |
| IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd | 0 | 1 |
| IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd | 0 | 1 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | THE EXPENSES BY VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. THAT ARE REPORTED ON FORM 990, PART IX WERE EXPENDED TO PROVIDE SUPPORT AND MANAGEMENT TO ITS SUPPORTED ORGANIZATION, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 1 | BY LAWS: PAGE 2: ARTICLE VII, BOARD OF DIRECTORS PURSUANT TO VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. BYLAWS, THE SUPPORTED ORGANIZATION, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY, HAS THE POWER TO APPOINT AND REMOVE THE MAJORITY OF THE BOARD OF VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. (VTIP). BECAUSE OF THIS GOVERNANCE STRUCTURE, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY IS ABLE TO HAVE A SIGNIGICANT VOICE IN THE ORGANIZATION AND IN DIRECTING THE USE OF THE INCOME AND ASSETS OF VTIP. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 2 | VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. SUPPORTS VIRGINIA TECH BY PROTECTING ITS INTELLECTUAL PROPERTY (FILING PATENTS WHEN APPLICABLE) AND COMMERCIALIZING NEW TECHNOLOGIES THAT COME FROM RESEARCH AT VIRGINIA TECH. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART 1, LINE 12G, COLUMN (VI): |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 1 | PART IV, SECTION D, LINE 3: |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 2 | PART IV, SECTION E, LINE 1 |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 546001805 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 651409 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType3FuncIntInd | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 651409 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 2199 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 10453 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 12652 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 939354 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 1803828 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 69166 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 939354 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 500000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NOTES PAYABLE TO VTF |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 939352 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 0 | 446508 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 1 | 1469 |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 0 | INVESTMENTS HELD BY VTF |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 1 | ALTERNATIVE INVESTMENTS |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 0 | F |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 1 | F |
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Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.