Civic Intelligence

Virginia Biotechnology Research Park

990 • Fiscal year 2017 • EIN 54-1640716

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization Profilewww.vabiotech.com
800 East Leigh StreetRichmond, VA 23219

(804) 828-0963

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

0.76x

Higher debt load relative to assets than 92% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

2.55x

Higher debt load relative to revenue than 98% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

8th percentile

-54%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

94th percentile

149%

Faster asset growth than 94% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-64%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$460,100

Up $275,656 (+149%) from 2016

Net Assets

Down

$110,100

Down $74,344 (-40%) from 2016

Liabilities

Up

$350,000

Up $350,000 from 2016

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin8th percentile

Revenue

Down

$137,316

Down $243,242 (-64%) from 2016

Expenses

Down

$211,111

Down $12,066 (-5.4%) from 2016

Net Income

Down

-$73,795

Down $231,176 (-147%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2016: $184,444Liabilities 2016: $0Net Assets 2016: $184,4442016Assets 2017: $460,100Liabilities 2017: $350,000Net Assets 2017: $110,1002017Assets 2018: $136,003Liabilities 2018: $127,308Net Assets 2018: $8,6952018Assets 2019: $399,823Liabilities 2019: $261,042Net Assets 2019: $138,7812019Assets 2020: $609,829Liabilities 2020: $126,807Net Assets 2020: $483,0222020Assets 2021: $854,720Liabilities 2021: $7,772Net Assets 2021: $846,9482021Assets 2022: $1,634,872Liabilities 2022: $314,828Net Assets 2022: $1,320,0442022Assets 2023: $2,628,517Liabilities 2023: $1,765,697Net Assets 2023: $862,8202023Assets 2024: $2,408,437Liabilities 2024: $2,371,585Net Assets 2024: $36,8522024

Highlighted filing

2017

Assets$460,100
Liabilities$350,000
Net Assets$110,100
Open 2017 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2016: $380,558Expenses 2016: $223,177Net Income 2016: $157,3812016Revenue 2017: $137,316Expenses 2017: $211,111Net Income 2017: -$73,7952017Revenue 2018: $239,093Expenses 2018: $340,481Net Income 2018: -$101,3882018Revenue 2019: $940,631Expenses 2019: $812,345Net Income 2019: $128,2862019Revenue 2020: $1,305,801Expenses 2020: $961,560Net Income 2020: $344,2412020Revenue 2021: $1,173,848Expenses 2021: $809,922Net Income 2021: $363,9262021Revenue 2022: $1,876,994Expenses 2022: $1,403,898Net Income 2022: $473,0962022Revenue 2023: $1,323,136Expenses 2023: $1,780,360Net Income 2023: -$457,2242023Revenue 2024: $1,454,208Expenses 2024: $1,583,864Net Income 2024: -$129,6562024

Highlighted filing

2017

Revenue$137,316
Expenses$211,111
Net Income-$73,795
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$137,316
Mission and Program Overview

Mission

Virginia biotechnology research park (the activation council), as an anchor for the knowledge-based community, will provide the leadership and vision for the richmond regional innovation ecosystem with a willingness to invent, take and manage risks, and share credit for success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$183,894$460,100▲ $276,206
Accounts Receivable$550--
Total Assets$184,444$460,100▲ $275,656
Liabilities
Deferred Revenue-$350,000-
Total Liabilities$0$350,000▲ $350,000
Net Assets / Fund Balance
Temporarily Rstr Net Assets$184,444$110,100▼ $74,344
Total Net Assets Fund Balance$184,444$110,100▼ $74,344
Total Liabilities and Net Assets / Fund Balance$184,444$460,100▲ $275,656
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Michael RaoChair
Carrie RothPresident & CEO
Jennifer FinnVice Chair
Bryan BosticDirector
Cecil R Harris JrDirector
Dr Gary RhodesDirector
Dr Joseph P CaseyDirector
Ed A GrierDirector
Francis L Macrina PhDDirector
Joseph TanneryDirector
Kim ScheelerDirector
Lisa SimsDirector
Paul NoldeDirector
Robby DemeriaDirector
Robert E Driver JrDirector
The Hon Dwight JonesDirector
The Hon Levar StoneyDirector
The Hon Maurice JonesDirector
The Hon Todd HaymoreDirector
Todd NuckolsDirector
Sara MaddoxAssistant Secretary
John A VithoulkasSecretary
Joy P EdgettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$137,316
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$137,316
Change in Net Assets
$-73,795
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$163,500
Other Expenses$47,611
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$163,500--$163,500
Other Expenses$14,204$14,919-$14,204
Travel$7,374$2,543-$9,917
Fees for Services Other-$5,855-$5,855
Office Expenses$712$1,731-$2,443
All Other Expenses-$273-$273
Total Functional Expenses$185,790$25,321$0$211,111
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fenris LLCGlen Allen, VA-Start-up Company$20,000
GOGO Band IncAshland, VA-Start-up Company$20,000
Glass Smith Holding IncRichmond, VA-Start-up Company$20,000
Map My Customers Inc Pawleys Island SC 29585Pawleys Island, SC-Start-up Company$20,000
Skraach LLCrICHmond, VA-Start-up Company$20,000
Spira Inc Annandale VA 23003aNNANDALE, VA-Start-up Company$20,000
Trilogy Mentors LLCrichmond, VA-Start-up Company$20,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The 990 will be shared with all board members before filing.”

Form 990, Part VI, Section C, line 19

“The governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Virginia Biotechnology Research Park
EIN
54-1640716
Phone
8048280963
Address
800 East Leigh Street, Richmond, VA 23219

Signing Officer

Name
Carrie Roth
Title
President and CEO
Phone
8048280963
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carrie Roth
Formed
1992
Legal Domicile
Va
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
56

Preparer

Firm
Cherry Bekaert Llp
Address
200 South 10th St Ste 900, Richmond, VA 23219
Preparer
Amanda Adams
Phone
8046735700
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President & CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice Chair
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01731
IRS990/OfficeExpensesGrp/ProgramServicesAmt0712
IRS990/OfficeExpensesGrp/TotalAmt02443
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Membership/Dues
IRS990/OtherExpensesGrp/Desc1Marketing Expenses
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt014919
IRS990/OtherExpensesGrp/ProgramServicesAmt014204
IRS990/OtherExpensesGrp/TotalAmt014919
IRS990/OtherExpensesGrp/TotalAmt114204
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Carrie Roth
IRS990/PriorPeriodAdjustmentsAmt0-549
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0367500
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0121500
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0101677
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt013058
IRS990/PYRevenuesLessExpensesAmt0157381
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0223177
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0380558
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-73795
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0137316
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0376500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt042082
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0555898
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt028058
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.52930
IRS990ScheduleA/PublicSupportPY170Pct00.60610
IRS990ScheduleA/PublicSupportTotal170Amt0294252
IRS990ScheduleA/SubstantialContributorsTotAmt0261646
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0137316
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0376500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt042082
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0555898
IRS990ScheduleA/TotalSupportAmt0555898
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt020000
IRS990ScheduleI/RecipientTable/CashGrantAmt120000
IRS990ScheduleI/RecipientTable/CashGrantAmt220000
IRS990ScheduleI/RecipientTable/CashGrantAmt320000
IRS990ScheduleI/RecipientTable/CashGrantAmt420000
IRS990ScheduleI/RecipientTable/CashGrantAmt520000
IRS990ScheduleI/RecipientTable/CashGrantAmt620000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0START-UP COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1START-UP COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2START-UP COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3START-UP COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4START-UP COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5START-UP COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6START-UP COMPANY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Fenris LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Glass Smith Holding Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2GOGO Band Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Map My Customers Inc Pawleys Island SC 29585
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Skraach LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5Spira Inc Annandale VA 23003
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6Trilogy Mentors LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0528312553
IRS990ScheduleI/RecipientTable/RecipientEIN1811640354
IRS990ScheduleI/RecipientTable/RecipientEIN2811468752
IRS990ScheduleI/RecipientTable/RecipientEIN3811262386
IRS990ScheduleI/RecipientTable/RecipientEIN4227358813
IRS990ScheduleI/RecipientTable/RecipientEIN5812277881
IRS990ScheduleI/RecipientTable/RecipientEIN6474821591
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt05112 Cobblestone Lane
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1220 Hull Street Ste 300
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2201 Duncan Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3284 Grey Mans Loop
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt43122 W Clay Street 17
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt57301 Masonville Dr
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt63126 W Cary Street Ste 419
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Glen Allen
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Richmond
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Ashland
IRS990ScheduleI/RecipientTable/USAddress/CityNm3PAWLEYS ISLAND
IRS990ScheduleI/RecipientTable/USAddress/CityNm4rICHmond
IRS990ScheduleI/RecipientTable/USAddress/CityNm5aNNANDALE
IRS990ScheduleI/RecipientTable/USAddress/CityNm6richmond
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3SC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd023059
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd123224
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd223005
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd329585
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd423230
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd523003
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd623221
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Each grant is made as part of a three-month accelerator mentorship program. In addition to funding, each grantee receives guidance on improving their products and services, networking with investors, and identifying resources and opportunities needed to run a high-growth business.

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$460,100
Liabilities
$350,000
Net assets
$110,100
Revenue
$137,316
Expenses
$211,111
Net income
-$73,795
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.41$2.37$0.04$1.45$1.58$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.63$1.77$0.86$1.32$1.78$0.46
2022Detailed filing. Detailed filing data is available for this year.$1.63$0.31$1.32$1.88$1.40$0.47
2021Detailed filing. Detailed filing data is available for this year.$0.85$0.01$0.85$1.17$0.81$0.36
2020Detailed filing. Detailed filing data is available for this year.$0.61$0.13$0.48$1.31$0.96$0.34
2019Detailed filing. Detailed filing data is available for this year.$0.40$0.26$0.14$0.94$0.81$0.13
2018Detailed filing. Detailed filing data is available for this year.$0.14$0.13$0.01$0.24$0.34$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.46$0.35$0.11$0.14$0.21$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.38$0.22$0.16