Civic Intelligence

Virginia Commonwealth University Intellectual Property Foundation

990 • Fiscal year 2019 • EIN 54-1854399

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 11, 2019

Organization ProfileWWW.RESEARCH.VCU.EDU
800 E Leigh Street No 3000Richmond, VA 23219

(804) 828-5188

Siviq Scores

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

Liabilities / Assets

61st percentile

0.16x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

70th percentile

0.26x

Higher debt load relative to revenue than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

89th percentile

$197,929

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

36th percentile

-0.6%

Faster asset growth than 36% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

33rd percentile

-2.6%

Faster revenue growth than 33% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$4,240,527

Down $27,480 (-0.6%) from 2018

Net Assets

Down

$3,578,105

Down $279,368 (-7.2%) from 2018

Liabilities

Up

$662,422

Up $251,888 (+61%) from 2018

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin17th percentile

Revenue

Down

$2,548,417

Down $69,326 (-2.6%) from 2018

Expenses

Up

$2,893,770

Up $510,451 (+21%) from 2018

Net Income

Down

-$345,353

Down $579,777 (-247%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $1,935,373Liabilities 2011: $286,923Net Assets 2011: $1,648,4502011Assets 2012: $2,037,939Liabilities 2012: $303,956Net Assets 2012: $1,733,9832012Assets 2013: $2,039,596Liabilities 2013: $201,077Net Assets 2013: $1,838,5192013Assets 2014: $2,202,831Liabilities 2014: $296,417Net Assets 2014: $1,906,4142014Assets 2015: $2,725,376Liabilities 2015: $280,500Net Assets 2015: $2,444,8762015Assets 2016: $3,086,106Liabilities 2016: $439,547Net Assets 2016: $2,646,5592016Assets 2017: $7,015,894Liabilities 2017: $1,977,651Net Assets 2017: $5,038,2432017Assets 2018: $4,268,007Liabilities 2018: $410,534Net Assets 2018: $3,857,4732018Assets 2019: $4,240,527Liabilities 2019: $662,422Net Assets 2019: $3,578,1052019Assets 2020: $4,538,318Liabilities 2020: $1,143,580Net Assets 2020: $3,394,7382020Assets 2021: $4,910,012Liabilities 2021: $646,278Net Assets 2021: $4,263,7342021Assets 2022: $4,582,975Liabilities 2022: $652,297Net Assets 2022: $3,930,6782022Assets 2023: $4,758,542Liabilities 2023: $773,867Net Assets 2023: $3,984,6752023Assets 2024: $5,395,479Liabilities 2024: $832,290Net Assets 2024: $4,563,1892024Assets 2025: $6,341,219Liabilities 2025: $549,525Net Assets 2025: $5,791,6942025

Highlighted filing

2019

Assets$4,240,527
Liabilities$662,422
Net Assets$3,578,105
Open 2019 Filing

Operations Trend

Revenue Growth33rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,193,322Expenses 2011: $1,071,915Net Income 2011: $121,4072011Revenue 2012: $1,738,453Expenses 2012: $1,562,044Net Income 2012: $176,4092012Revenue 2013: $1,253,958Expenses 2013: $1,272,786Net Income 2013: -$18,8282013Revenue 2014: $1,831,832Expenses 2014: $1,574,195Net Income 2014: $257,6372014Revenue 2015: $2,443,659Expenses 2015: $1,914,397Net Income 2015: $529,2622015Revenue 2016: $2,283,813Expenses 2016: $2,047,748Net Income 2016: $236,0652016Revenue 2017: $6,657,713Expenses 2017: $4,328,267Net Income 2017: $2,329,4462017Revenue 2018: $2,617,743Expenses 2018: $2,383,319Net Income 2018: $234,4242018Revenue 2019: $2,548,417Expenses 2019: $2,893,770Net Income 2019: -$345,3532019Revenue 2020: $2,442,400Expenses 2020: $2,678,377Net Income 2020: -$235,9772020Revenue 2021: $2,855,474Expenses 2021: $2,935,342Net Income 2021: -$79,8682021Revenue 2022: $3,452,341Expenses 2022: $3,503,592Net Income 2022: -$51,2512022Revenue 2023: $2,808,546Expenses 2023: $2,987,908Net Income 2023: -$179,3622023Revenue 2024: $3,349,198Expenses 2024: $3,190,692Net Income 2024: $158,5062024Revenue 2025: $3,946,392Expenses 2025: $3,154,296Net Income 2025: $792,0962025

Highlighted filing

2019

Revenue$2,548,417
Expenses$2,893,770
Net Income-$345,353
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 11, 2019
Return Version
2018v3.1
Gross Receipts
$2,548,417
Mission and Program Overview

Mission

The foundation determines the patentability and obtains patents on virginia commonwealth university (vcu) inventions and markets and licenses such inventions to commerical entities. The foundation's activities promote research efforts at the school and resulting royalties provide economic support for the university. The foundation also provides patent and licensing clinics for vcu students and employed approximately 1 vcu student as an intern or part-time employee.

Virignia commonwealth university intellectual property foundation's mission is to foster a culture of innovation at virginia commonwealth university (vcu) and to protect and commercialize inventions created by the vcu research enterprise for the benefit of society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,360,149$2,554,451▲ $194,302
Cash and Non-Interest-Bearing Accounts$1,154,129$955,757▼ $198,372
Accounts Receivable$665,253$689,674▲ $24,421
Other Notes and Loans Receivable, Net$61,125$0▼ $61,125
Prepaid Expenses and Deferred Charges$15,490$25,196▲ $9,706
Land, Buildings, and Equipment, Net$11,861$15,449▲ $3,588
Total Assets$4,268,007$4,240,527▼ $27,480
Liabilities
Accounts Payable and Accrued Expenses$410,534$479,184▲ $68,650
Other Liabilities$0$183,238▲ $183,238
Total Liabilities$410,534$662,422▲ $251,888
Net Assets / Fund Balance
Unrestricted Net Assets$3,857,473$3,578,105▼ $279,368
Total Net Assets Fund Balance$3,857,473$3,578,105▼ $279,368
Total Liabilities and Net Assets / Fund Balance$4,268,007$4,240,527▼ $27,480

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,449$5,911$21,360
Other Securities$1,376,814--
Compensation and Service Providers
Top Officer Pay89th percentile

Board Members and Trustees

NameTitle
Dr Ivelina S MetchevaPresident
Dr Reinhold BrandDirector
Drgopinath JadhavDirector
Mr Gary LeclairDirector
Mr Spencer WilliamsonDirector
Nancy EberhardtDirector
P Srirama RaoEx-officio
L Frankin BostSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Whitham Curtis & Cook PCDevelopment Costs11491 SUNSET HILLS ROAD SUITE 340, Reston, VA 20190$589,539
Kevin R Ward MdRoyalties1490 COLLINGHAM DRIVE, Collierville, TN 38017$355,273
Robert DiegelmannRoyalties6730 FLEMING CREEK, Superior Township, MI 48198$348,090
Lawrence SchwartzRoyalties2320 COLTON DRIVE, Richmond, VA 23235$347,287
-Royalties1 WELWYN PLACE, Richmond, VA 23229$204,878
Revenue and Support

Revenue Composition

Contributions and Grants
$131,410
Program Service Revenue
$2,227,842
Investment Income
$180,155
Other Revenue
$9,010
Change in Net Assets
$-345,353

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,532,533
Revenue Not Reported on Financial Statements
$15,884
Revenue Not Reported on Form 990
$65,985
Total Revenue per Audited Statements
$2,598,518
Total Revenue per Form 990
$2,548,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,859,784
Salaries, Compensation, and Employee Benefits$33,986
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$321,377$80,345-$401,722
Other Expenses$207,000$52,737-$52,737
Fees for Services Accounting-$46,967-$46,967
All Other Expenses$45,822--$45,822
Advertising$44,419--$44,419
Other Salaries and Wages$31,571--$31,571
Office Expenses$19,224$7,102-$26,326
Travel$20,299$2,197-$22,496
Fees for Service Investment Mgmnt Fees-$15,884-$15,884
Occupancy$6,450$1,612-$8,062
Conferences and Meetings$6,803$50-$6,853
Depreciation Depletion$5,572--$5,572
Insurance-$2,472-$2,472
Payroll Taxes$2,415--$2,415
Total Functional Expenses$2,684,404$209,366$0$2,893,770

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,893,770
Expenses per Audited Statements$2,877,886
Total Expenses per Audited Statements$2,877,886
Expenses Not Reported on Financial Statements$15,884
Expenses Not Reported on Form 990$0
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
Due From Vcu$183,238
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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

“Form 990 is reviewed by the foundation's board of trustees upon its completion. A final copy of form 990 is made available to the board after completed. The form is filed and made available for public inspection at the foundation.”

Form 990, Part VI, Section B, Line 12C

“The foundation's conflict of interest policy requires that each member of the board of directors submit a conlfict of interest disclosure statement annually.”

Form 990, Part VI, Section B, Line 15A

“Virginia commonwealth university determines the salary for the president.”

Form 990, Part VI, Section C, Line 19

“The foundation's governing documents, conflict of interest policy and audited financial statements can be distributed to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Virginia Commonwealth University
EIN
54-1854399
Phone
8048285188
Address
800 E LEIGH STREET NO 3000, RICHMOND, VA 23219

Signing Officer

Name
Dr Ivelina Metcheva
Title
President
Phone
8048285188
Signed
2019-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Ivelina Metcheva
Formed
1994
Legal Domicile
Va
Voting Board Members
8
Independent Board Members
3
Employees
1
Volunteers
0

Preparer

Firm
Mitchell Wiggins & Company Llp
Address
1802 BAYBERRY COURT SUITE 300, RICHMOND, VA 23226
Preparer
M James Hartson Jr CPA
Phone
8042826000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The foundation's process for selecting independent auditors and oversight of the financial statement audit has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation has reviewed and evaluated the relevant technical merits of each of its tax positions in accordance with guidance established by the financial accounting standards board (fasb) and determined that there are no uncertain tax positions that would have a material impact on the financial statements of the foundation. With few exceptions, the foundation is no longer subject to income tax examinations by the taxing authorities for years ending before june 30, 2016.”

Raw XML AppendixShowing 400 of 547 raw XML fields

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/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0410534
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0479184
IRS990/AccountsReceivableGrp/BOYAmt0665253
IRS990/AccountsReceivableGrp/EOYAmt0689674
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0VIRIGNIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION'S MISSION IS TO FOSTER A CULTURE OF INNOVATION AT VIRGINIA COMMONWEALTH UNIVERSITY (VCU) AND TO PROTECT AND COMMERCIALIZE INVENTIONS CREATED BY THE VCU RESEARCH ENTERPRISE FOR THE BENEFIT OF SOCIETY.
IRS990/AdvertisingGrp/ProgramServicesAmt044419
IRS990/AdvertisingGrp/TotalAmt044419
IRS990/AllOtherExpensesGrp/ProgramServicesAmt045822
IRS990/AllOtherExpensesGrp/TotalAmt045822
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum08048285188
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0800 E LEIGH STREET NO 3000
IRS990/BooksInCareOfDetail/USAddress/CityNm0RICHMOND
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd023219
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt01154129
IRS990/CashNonInterestBearingGrp/EOYAmt0955757
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt07
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt050
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt06803
IRS990/ConferencesMeetingsGrp/TotalAmt06853
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0589539
IRS990/ContractorCompensationGrp/CompensationAmt1355273
IRS990/ContractorCompensationGrp/CompensationAmt2348090
IRS990/ContractorCompensationGrp/CompensationAmt3347287
IRS990/ContractorCompensationGrp/CompensationAmt4204878
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt011491 SUNSET HILLS ROAD SUITE 340
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt11490 COLLINGHAM DRIVE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt26730 FLEMING CREEK
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt32320 COLTON DRIVE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt41 WELWYN PLACE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0RESTON
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1COLLIERVILLE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm2SUPERIOR TOWNSHIP
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm3RICHMOND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm4RICHMOND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0VA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd1TN
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd2MI
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd3VA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd4VA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd020190
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd138017
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd248198
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd323235
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd423229
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0WHITHAM CURTIS & COOK PC
IRS990/ContractorCompensationGrp/ContractorName/PersonNm0GARY L BOWLIN
IRS990/ContractorCompensationGrp/ContractorName/PersonNm1KEVIN R WARD MD
IRS990/ContractorCompensationGrp/ContractorName/PersonNm2ROBERT DIEGELMANN
IRS990/ContractorCompensationGrp/ContractorName/PersonNm3LAWRENCE SCHWARTZ
IRS990/ContractorCompensationGrp/ServicesDesc0DEVELOPMENT COSTS
IRS990/ContractorCompensationGrp/ServicesDesc1ROYALTIES
IRS990/ContractorCompensationGrp/ServicesDesc2ROYALTIES
IRS990/ContractorCompensationGrp/ServicesDesc3ROYALTIES
IRS990/ContractorCompensationGrp/ServicesDesc4ROYALTIES
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0131410
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0180155
IRS990/CYOtherExpensesAmt02859784
IRS990/CYOtherRevenueAmt09010
IRS990/CYProgramServiceRevenueAmt02227842
IRS990/CYRevenuesLessExpensesAmt0-345353
IRS990/CYSalariesCompEmpBnftPaidAmt033986
IRS990/CYTotalExpensesAmt02893770
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt02548417
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt05572
IRS990/DepreciationDepletionGrp/TotalAmt05572
IRS990/Desc0TO PROTECT AND COMMERCIALIZE VCU TECHNOLOGIES THROUGH PATENTING AND LICENSING. DURING THE FISCAL YEAR ENDED JUNE 30, 2019, THE VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION HAD - 114 INVENTION DISCLOSURES BY VCU INVENTORS - 183 PATENT APPLICATIONS FILED - 22 PATENTS ISSUED - 21 LICENSES - 70 TARGETED INDUSTRY ENGAGEMENTS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt01
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt02684404
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt046967
IRS990/FeesForServicesAccountingGrp/TotalAmt046967
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt080345
IRS990/FeesForServicesManagementGrp/ProgramServicesAmt0321377
IRS990/FeesForServicesManagementGrp/TotalAmt0401722
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt015884
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt015884
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt025299
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/PersonNm0DR IVELINA S METCHEVA
IRS990/Form990PartVIISectionAGrp/PersonNm1MR GARY LECLAIR
IRS990/Form990PartVIISectionAGrp/PersonNm2MR SPENCER WILLIAMSON
IRS990/Form990PartVIISectionAGrp/PersonNm3P SRIRAMA RAO
IRS990/Form990PartVIISectionAGrp/PersonNm4DRGOPINATH JADHAV
IRS990/Form990PartVIISectionAGrp/PersonNm5L FRANKIN BOST
IRS990/Form990PartVIISectionAGrp/PersonNm6DR REINHOLD BRAND
IRS990/Form990PartVIISectionAGrp/PersonNm7NANCY EBERHARDT
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt0172630
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01994
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt063981
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GovernmentGrantsAmt0131410
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt063981
IRS990/GrossReceiptsAmt02548417
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt02472
IRS990/InsuranceGrp/TotalAmt02472
IRS990/InvestmentIncomeGrp/ExclusionAmt0116174
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0116174
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt02360149
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt02554451
IRS990/IRPDocumentCnt086
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt05911
IRS990/LandBldgEquipBasisNetGrp/BOYAmt011861
IRS990/LandBldgEquipBasisNetGrp/EOYAmt015449
IRS990/LandBldgEquipCostOrOtherBssAmt021360
IRS990/LegalDomicileStateCd0VA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE FOUNDATION DETERMINES THE PATENTABILITY AND OBTAINS PATENTS ON VIRGINIA COMMONWEALTH UNIVERSITY (VCU) INVENTIONS AND MARKETS AND LICENSES SUCH INVENTIONS TO COMMERICAL ENTITIES. THE FOUNDATION'S ACTIVITIES PROMOTE RESEARCH EFFORTS AT THE SCHOOL AND RESULTING ROYALTIES PROVIDE ECONOMIC SUPPORT FOR THE UNIVERSITY. THE FOUNDATION ALSO PROVIDES PATENT AND LICENSING CLINICS FOR VCU STUDENTS AND EMPLOYED APPROXIMATELY 1 VCU STUDENT AS AN INTERN OR PART-TIME EMPLOYEE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt03857473
IRS990/NetAssetsOrFundBalancesEOYAmt03578105
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt063981
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt063981
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt065985
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt01612
IRS990/OccupancyGrp/ProgramServicesAmt06450
IRS990/OccupancyGrp/TotalAmt08062
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07102
IRS990/OfficeExpensesGrp/ProgramServicesAmt019224
IRS990/OfficeExpensesGrp/TotalAmt026326
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0ROYALTY DISTRIBUTIONS
IRS990/OtherExpensesGrp/Desc1PATENT DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2AWARDS
IRS990/OtherExpensesGrp/Desc3BAD DEBT ALLOWANCE EXPE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt052737
IRS990/OtherExpensesGrp/ProgramServicesAmt01190116
IRS990/OtherExpensesGrp/ProgramServicesAmt1783336
IRS990/OtherExpensesGrp/ProgramServicesAmt2207000
IRS990/OtherExpensesGrp/TotalAmt01190116
IRS990/OtherExpensesGrp/TotalAmt1783336
IRS990/OtherExpensesGrp/TotalAmt2207000
IRS990/OtherExpensesGrp/TotalAmt352737
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0183238
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1518210
IRS990/OtherRevenueMiscGrp/Desc0INCOME FROM PARTNERSHI
IRS990/OtherRevenueMiscGrp/Desc1LOSS FROM S-CORP
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt064492
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt064492
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1-55482
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0-55482
IRS990/OtherRevenueTotalAmt09010
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt031571
IRS990/OtherSalariesAndWagesGrp/TotalAmt031571
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt061125
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt02415
IRS990/PayrollTaxesGrp/TotalAmt02415
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt015490
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025196
IRS990/PrincipalOfficerNm0DR IVELINA METCHEVA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0ROYALTY/LICENSE FEES
IRS990/ProgramServiceRevenueGrp/Desc1PATENT COST REIMBURSED
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02089526
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1138316
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02089526
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1138316
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0455393
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0488673
IRS990/PYInvestmentIncomeAmt061294
IRS990/PYOtherExpensesAmt01874445
IRS990/PYOtherRevenueAmt051550
IRS990/PYProgramServiceRevenueAmt02049506
IRS990/PYRevenuesLessExpensesAmt0234424
IRS990/PYSalariesCompEmpBnftPaidAmt020201
IRS990/PYTotalExpensesAmt02383319
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02617743
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-345353
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02292334
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0546001758
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt02684404
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0VIRGINIA COMMONWEALTH UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt02684404
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
IRS990ScheduleD/EquipmentGrp/BookValueAmt015449
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05911
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021360
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt015884
IRS990ScheduleD/ExpensesSubtotalAmt02877886
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt015884
IRS990ScheduleD/InvestmentExpensesNotIncldAmt015884
IRS990ScheduleD/NetUnrealizedGainsInvstAmt065985
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0183238
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE FROM VCU
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt025886
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11151751
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt21376814
IRS990ScheduleD/OtherSecuritiesGrp/Desc0OTHER INVESTMENTS-PASS THROUGH ENTITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1VCU FOUNDATION FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc2MCV FOUNDATION FUND
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/RevenueNotReportedAmt065985
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt015884
IRS990ScheduleD/RevenueSubtotalAmt02532533
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE FOUNDATION. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE TAXING AUTHORITIES FOR YEARS ENDING BEFORE JUNE 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015449
IRS990ScheduleD/TotalBookValueSecuritiesAmt02554451
IRS990ScheduleD/TotalExpensesPerForm990Amt02893770
IRS990ScheduleD/TotalLiabilityAmt0183238
IRS990ScheduleD/TotalRevenuePerForm990Amt02548417
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02598518
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02877886
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0172630
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt016319
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt08980
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,240,527
Liabilities
$662,422
Net assets
$3,578,105
Revenue
$2,548,417
Expenses
$2,893,770
Net income
-$345,353
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.34$0.55$5.79$3.95$3.15$0.79
2024Detailed filing. Detailed filing data is available for this year.$5.40$0.83$4.56$3.35$3.19$0.16
2023Detailed filing. Detailed filing data is available for this year.$4.76$0.77$3.98$2.81$2.99$0.18
2022Detailed filing. Detailed filing data is available for this year.$4.58$0.65$3.93$3.45$3.50$0.05
2021Detailed filing. Detailed filing data is available for this year.$4.91$0.65$4.26$2.86$2.94$0.08
2020Detailed filing. Detailed filing data is available for this year.$4.54$1.14$3.39$2.44$2.68$0.24
2019Detailed filing. Detailed filing data is available for this year.$4.24$0.66$3.58$2.55$2.89$0.35
2018Detailed filing. Detailed filing data is available for this year.$4.27$0.41$3.86$2.62$2.38$0.23
2017Detailed filing. Detailed filing data is available for this year.$7.02$1.98$5.04$6.66$4.33$2.33
2016Detailed filing. Detailed filing data is available for this year.$3.09$0.44$2.65$2.28$2.05$0.24
2015Detailed filing. Detailed filing data is available for this year.$2.73$0.28$2.44$2.44$1.91$0.53
2014Detailed filing. Detailed filing data is available for this year.$2.20$0.30$1.91$1.83$1.57$0.26
2013Summary only. Only limited summary data is available for this year.$2.04$0.20$1.84$1.25$1.27$0.02
2012Summary only. Only limited summary data is available for this year.$2.04$0.30$1.73$1.74$1.56$0.18
2011Summary only. Only limited summary data is available for this year.$1.94$0.29$1.65$1.19$1.07$0.12