Virginia Tech Innovations Corporation

Nonprofit profile at a glance

EIN
274910429
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018, Form 990-N 2010
Location
Blacksburg, VA, USA
Phone
5402312977
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$858,014
Expenses
$806,484
Assets
$314,801
Liabilities
$176,713

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

Leadership & pay

14 people listed

Executive titles in this filing

  • DR THOMAS ARCHIBALD (PRESIDENT AET GLOBAL)
  • LINDA DUFFY (PRESIDENT VT-RCS)

Highest reported compensation

  • DR CYRIL R CLARKE (BOARD MEMBER): $757,908 total reported compensation
  • AMY SEBRING (CHAIR): $737,943 total reported compensation
  • DR DIANZHI DANIEL SUI (BOARD MEMBER): $565,539 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 support innovative applications of science and technology and provide technical assistance to enhance global competitiveness.

What it reported doing in 2024

Virginia tech research contracting services, llc (vtrcs) contracts and administers external research grants with private corporations and subcontracts the research work to Virginia tech.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.2%; rating input score 82
  • Program expense ratio: 87.4%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 105.2%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 12.8% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 19.1% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 22.8% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 82.2% of revenue deployed · 87.4% of spending went to programs
  • Governance: 0 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $705K in reported program spending
  • Leadership: top reported pay $758K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.