Virginia Biotechnology Association

Nonprofit profile at a glance

EIN
541644709
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8046436360
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$810,644
Expenses
$773,191
Assets
$475,550
Liabilities
$199,113

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • JOHN HART (PRESIDENT)
  • JOHN NEWBY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • JOHN NEWBY (CHIEF EXECUTIVE OFFICER): $225,335 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote innovation and growth through strengthened networks; advocacy; capital investment; talent attraction, development and retention; and advancing the next generation of leaders.

What it reported doing in 2024

Virginia reception at the jpmorgan healthcare conference (january 2025)held at the marker hotel in san francisco during jpmorgan healthcare week, Virginia bio partnered with state bio organizations from Arizona, California, Georgia, Michigan, New Jersey, North Carolina, New York, Ohio, Oregon, and Pennsylvania to host a free, high-visibility reception. The event brought together bio-industry professionals from across the country, elevating Virginia's presence on a national stage and fostering cross-state collaboration among member organizations.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 90
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.6%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.62; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 29.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 23 of 23 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $100K in reported program spending
  • Leadership: top reported pay $225K · 25 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.