Virginia Tech Transportation Economic Development Inc

Nonprofit profile at a glance

EIN
371737161
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Blacksburg, VA, USA
Phone
5402312977
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$4,929,428
Expenses
$5,996,918
Assets
$7,799,062
Liabilities
$7,888,192

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

Leadership & pay

15 people listed

Executive titles in this filing

  • ZACHARY DOERZAPH (PRESIDENT (VTT, LLC))
  • FRANK DELLA PIA (EXECUTIVE DIRECTOR (VTT, LLC))

Highest reported compensation

  • DR CYRIL R CLARKE (BOARD MEMBER): $757,908 total reported compensation
  • AMY SEBRING (BOARD MEMBER): $737,943 total reported compensation
  • DR DIANZHI DANIEL SUI (CHAIR): $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

Vttedi builds a base of research, engineering education, advanced testing, and technology transfer that significantly impacts industrial practice and productivity through the development of advanced materials, intelligent tire technologies and vehicle dynamics data analysis.

What it reported doing in 2024

Vttedi contributes to the economic development of southside Virginia through career opportunities for over 34 employees, supporting local businesses, and engaging local educational and nonprofit institutions. Vttedi has created internships for Virginia tech engineering students. Vttedi provides development and delivery of specialized research, tire testing and modeling and simulation services to global customers and sponsors. Vttedi has built highly specialized facilities that provide state of the art equipment and technology for tire testing and modeling and vehicle modeling. Companies from around the globe travel to alton va to get the most advanced services and data from the vttedi team.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 66
  • Accountability: 37
  • Sustainability: 18
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.9%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -21.7%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 30.7%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.9% of spending went to programs
  • Governance: 0 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.8M in reported program spending
  • Leadership: top reported pay $758K · 15 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $209K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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 — Sustainability: Operating margin scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.