Virginia Innovation Partnership Corporation
Virginia Innovation Partnership Corporation reported $33.8 million in revenue and $30.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $78.27 went to program services, $21.73 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 50.8% of the total. Government grants made up 50.7%. The highest compensation it reported for one person was $381,397 (CIO & VP). 35 people received more than $100,000 in reportable compensation. Revenue fell 56% between FY2021 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $31MFor context, the median across 192 covered science & technology charities: $84.33 programs, $15.67 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $34MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 78.3% | 83.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 21.7% | 15.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 50.8% | 51.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 50.7% | 3.2% |
| Program service revenue share Part VIII 2g ÷ 12 | 37.6% | 19.2% |
| Highest reported compensation Part VII-A, columns D–F | $381,397 | $513,729 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.24% | 1.72% |
| People paid over $100,000 Part VII, line 2 | 35 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 30.8 | 14.7 |
| Independent voting board members Part VI 1a–1b | 10 of 10 | 94.3% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
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The commonwealth commercialization fund (ccf) drives economic growth by providing private sector and higher education and eminent researcher recruitment and retention grant funding for innovative technology research, development, and commercialization in virginia. In total, more than $64m has been awarded to 716 projects. Since the program's inception, awardees have reported more than $1.9b in follow-on funding and more than $227m in generated revenue
Under vipc's contract with the US department of homeland security science and technology directorate is the commercial first innovation program. Key priorities include counter-unmanned systems mitigation, detection of environmental threats, and other public safety-related technologies. Strategic initiative efforts has strategically positioned the commonwealth of virginia to assume a national leadership role in aerospace & defense (a&d), public safety, and public private sector data governance and risk mitigation as new opportunities and challenges evolve. Other program initiatives include…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CIO & VP Key employee, 40.00 hrs/week | $310,716 | $0 | $70,681 | $381,397 |
| PRESIDENT & CEO Officer, 40.00 hrs/week | $329,053 | $0 | $49,234 | $378,287 |
| CHIEF TECH OFFICER Key employee, 40.00 hrs/week | $279,163 | $0 | $56,142 | $335,305 |
| SENIOR DIRECTOR, INVESTMENT Highest compensated employee, 40.00 hrs/week | $221,531 | $0 | $49,383 | $270,914 |
| FORMER PRESIDENT & CEO Former, 40.00 hrs/week | $257,703 | $0 | $0 | $257,703 |
| VP, ENTREPRENUERIAL Key employee, 40.00 hrs/week | $190,908 | $0 | $56,411 | $247,319 |
| VP, MARKETING Highest compensated employee, 40.00 hrs/week | $191,306 | $0 | $45,815 | $237,121 |
| SENIOR DIRECTOR, INVESTMENT Highest compensated employee, 40.00 hrs/week | $190,720 | $0 | $45,795 | $236,515 |
35 people received more than $100,000 in reportable compensation from Virginia Innovation Partnership Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.8M (Part IX, line 5).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b10 · 10 independent
- Audited financial statements Part XII 2bNo
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 551
- Volunteers Part I, line 610
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| SMART CITY WORKS VENTURE LABS LLC Contractor services | $1,453,902 |
| ATA LLC Contractor services | $540,726 |
| TECHNEXUS LLC Contractor services | $503,200 |
| FAHRENHEIT ADVISORS INC Contractor services | $447,250 |
| PILLSBURY WINTHROP SHAW PITTMAN LLP Contractor services | $340,871 |
Individuals listed as contractors are left out. 10 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Virginia Innovation Partnership Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Virginia Innovation Partnership Corporation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Virginia Innovation Partnership Corporation spent in FY2025, $78.27 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Marine Environmental Sciences ConsortiumDauphin Island, AL · revenue $34M · programs 89.6% · FY2025
- Mozilla FoundationSan Francisco, CA · revenue $37M · programs 66.4% · 2024
- Florida Institute for Human and Machine CognitionPensacola, FL · revenue $33M · programs 75.7% · FY2025
- IcipeKenya, · revenue $39M · programs 0.0% · 2025
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All science & technology charities · Largest charities in Virginia
Questions people ask
How much of Virginia Innovation Partnership Corporation's spending goes to programs?
In the fiscal year ending June 30, 2025, Virginia Innovation Partnership Corporation reported that 78.3% of its $30.6 million in expenses went to program services, 21.7% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Virginia Innovation Partnership Corporation pay its top executive?
The largest total compensation Virginia Innovation Partnership Corporation reported for one person in the fiscal year ending June 30, 2025 was $381,397, for the role of CIO & VP (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Virginia Innovation Partnership Corporation get its money?
Of $33.8 million in revenue in the fiscal year ending June 30, 2025, 50.8% came from contributions and grants (including 50.7% from government grants) and 37.6% from program service revenue (Form 990, Part VIII).
Is Virginia Innovation Partnership Corporation a registered charity?
The IRS lists EIN 54-1282820 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202631359349304053 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541359349313249 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401369349308760 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202321329349300117 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202222519349301117 · read the filing
All filings for EIN 54-1282820: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.