Civic Intelligence

Virginia Biotechnology Research Park

990 • Fiscal year 2018 • EIN 54-1640716

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

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

94th percentile

0.94x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

0.53x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

9th percentile

-42%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

5th percentile

-70%

Faster asset growth than 5% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

90th percentile

74%

Faster revenue growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$136,003

Down $324,097 (-70%) from 2017

Net Assets

Down

$8,695

Down $101,405 (-92%) from 2017

Liabilities

Down

$127,308

Down $222,692 (-64%) from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin9th percentile

Revenue

Up

$239,093

Up $101,777 (+74%) from 2017

Expenses

Up

$340,481

Up $129,370 (+61%) from 2017

Net Income

Down

-$101,388

Down $27,593 (-37%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2018

Assets$136,003
Liabilities$127,308
Net Assets$8,695
Open 2018 Filing

Operations Trend

Revenue Growth90th 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

2018

Revenue$239,093
Expenses$340,481
Net Income-$101,388
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$239,093
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.

Virginia biotechnology research park (activation capital), 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$460,100$135,832▼ $324,268
Accounts Receivable-$171-
Total Assets$460,100$136,003▼ $324,097
Liabilities
Deferred Revenue$350,000$125,000▼ $225,000
Other Liabilities$0$1,241▲ $1,241
Accounts Payable and Accrued Expenses-$1,067-
Total Liabilities$350,000$127,308▼ $222,692
Net Assets / Fund Balance
Temporarily Rstr Net Assets$110,100$8,695▼ $101,405
Total Net Assets Fund Balance$110,100$8,695▼ $101,405
Total Liabilities and Net Assets / Fund Balance$460,100$136,003▼ $324,097
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 Joseph P CaseyDirector
Elizabeth CreamerDirector
Francis L Macrina PhdDirector
Garret WestlakeDirector
Joseph TanneryDirector
Kim ScheelerDirector
Lisa SimsDirector
Paul NoldeDirector
Robby DemeriaDirector
Robert E Driver JrDirector
The Hon Brian BallDirector
The Hon Levar StoneyDirector
Todd NuckolsDirector
Sara MaddoxAssistant Secretary
John a VithoulkasSecretary
Joy P EdgettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$239,093
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$239,093
Change in Net Assets
$-101,388
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$196,981
Grants and Similar Amounts Paid$143,500
Total Fundraising Expense$7,976
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$143,500--$143,500
Fees for Services Other$90,000$10,000$6,000$106,000
Occupancy$15,000--$15,000
Travel$8,322$4,992-$13,314
Other Expenses$8,105$12,858$1,929$10,034
Office Expenses$3,055$1,267$47$4,369
Total Functional Expenses$303,388$29,117$7,976$340,481
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ride Roundtrip IncPhiladelphia, PA-Start-up Company$25,000
Answersnow LLCRichmond, VA-Start-up Company$24,000
Pyt Funds Pay Your TuitionWashington, DC-Start-up Company$23,000
Blueswipe LLCRichmond, VA-Start-up Company$21,000
Indivisible Group CorporationCharlottesville, VA-Start-up Company$21,000
Ivy Oaks Analytics LLCScranton, PA-Start-up Company$21,000
Tracerx IncGlen Allen, VA-Start-up Company$5,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payables$1,241
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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
Doing Business As
Activation Capital

Signing Officer

Name
Carrie Roth
Title
President and CEO
Phone
8048280963
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carrie Roth
Formed
1992
Legal Domicile
Va
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
56

Preparer

Firm
Cherry Bekaert Llp
Address
200 SOUTH 10TH ST STE 900, RICHMOND, VA 23219
Preparer
Amanda Adams
Phone
8046735700
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants: program service expenses 90,000. Management and general expenses 10,000. Fundraising expenses 6,000. Total expenses 106,000.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/MissionDesc0VIRGINIA 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0110100
IRS990/NetAssetsOrFundBalancesEOYAmt08695
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt015000
IRS990/OccupancyGrp/TotalAmt015000
IRS990/OfficeExpensesGrp/FundraisingAmt047
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01267
IRS990/OfficeExpensesGrp/ProgramServicesAmt03055
IRS990/OfficeExpensesGrp/TotalAmt04369
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0SHARED SERVICES
IRS990/OtherExpensesGrp/Desc1MEMBERSHIP/DUES
IRS990/OtherExpensesGrp/Desc2PROGRAM EVENTS
IRS990/OtherExpensesGrp/FundraisingAmt01929
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt012858
IRS990/OtherExpensesGrp/ProgramServicesAmt035406
IRS990/OtherExpensesGrp/ProgramServicesAmt18105
IRS990/OtherExpensesGrp/TotalAmt035406
IRS990/OtherExpensesGrp/TotalAmt112858
IRS990/OtherExpensesGrp/TotalAmt210034
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt01241
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0CARRIE ROTH
IRS990/PriorPeriodAdjustmentsAmt0-17
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0137316
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0163500
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt047611
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-73795
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0211111
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0137316
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-101388
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0239093
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0137316
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0376500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt042082
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0794991
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt028058
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.68780
IRS990ScheduleA/PublicSupportPY170Pct00.52930
IRS990ScheduleA/PublicSupportTotal170Amt0546791
IRS990ScheduleA/SubstantialContributorsTotAmt0248200
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0239093
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0137316
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0376500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt042082
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0794991
IRS990ScheduleA/TotalSupportAmt0794991
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01241
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD PAYABLES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt01241
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt024000
IRS990ScheduleI/RecipientTable/CashGrantAmt121000
IRS990ScheduleI/RecipientTable/CashGrantAmt221000
IRS990ScheduleI/RecipientTable/CashGrantAmt321000
IRS990ScheduleI/RecipientTable/CashGrantAmt423000
IRS990ScheduleI/RecipientTable/CashGrantAmt525000
IRS990ScheduleI/RecipientTable/CashGrantAmt65000
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/BusinessNameLine1Txt0ANSWERSNOW LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1BLUESWIPE LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2INDIVISIBLE GROUP CORPORATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3IVY OAKS ANALYTICS LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4PYT FUNDS PAY YOUR TUITION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5RIDE ROUNDTRIP INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6TRACERX INC
IRS990ScheduleI/RecipientTable/RecipientEIN0812462758
IRS990ScheduleI/RecipientTable/RecipientEIN1463288132
IRS990ScheduleI/RecipientTable/RecipientEIN2813453937
IRS990ScheduleI/RecipientTable/RecipientEIN3475429205
IRS990ScheduleI/RecipientTable/RecipientEIN4472335301
IRS990ScheduleI/RecipientTable/RecipientEIN5464696719
IRS990ScheduleI/RecipientTable/RecipientEIN6823950623
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01708 OAKDALE AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13 S 12TH STREET FLOOR 2
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt21326 PENDLETON COURT
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3219 N MAIN AVE 1
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4419 7TH STREET NW 3RD FLOOR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt53 WILLINGS ALLEY MEWS
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt66108 CHADSWORTH TERRACE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm1RICHMOND
IRS990ScheduleI/RecipientTable/USAddress/CityNm2CHARLOTTESVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm3SCRANTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm4WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm5PHILADELPHIA
IRS990ScheduleI/RecipientTable/USAddress/CityNm6GLEN ALLEN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3PA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4DC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5PA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd023227
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd123219
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd222901
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd318504
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd420004
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd519106
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd623059
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.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt07
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$136,003
Liabilities
$127,308
Net assets
$8,695
Revenue
$239,093
Expenses
$340,481
Net income
-$101,388
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