2026-05-13T14:50:10-05:00 2025-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2024-07-01 541323858 VIRGINIA TECH INTELLECTUAL PROPERTIES INC VIRG 5402311231 1311 RESEARCH CENTER DRIVE 2057 BLACKSBURG VA 24061 GRANT BREWER PRESIDENT 5402311231 2026-05-12 1 0 PATRICK PITTMAN P00587461 5403450936 2026-05-12 2024 2025-03-06 01:10:19Z GRANT BREWER 1311 RESEARCH CENTER DRIVE 2057 BLACKSBURG VA 24061 4025789 0 X WWW.VTIP.ORG X 1985 VA THE ORGANIZATION'S MISSION IS TO PROMOTE SCIENTIFIC RESEARCH BY THE FACULTY, STAFF, AND STUDENTS SOLELY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY. 9 9 4 0 0 0 845205 935908 3674997 3029850 69336 60031 0 0 4589538 4025789 845205 935908 0 0 232899 254173 0 0 0 2875298 2737008 3953402 3927089 636136 98700 4046203 3905652 1938546 1683643 2107657 2222009 TO PROMOTE, ENCOURAGE, AND MARKET SCIENTIFIC RESEARCH BY THE FACULTY, STAFF AND STUDENTS SOLELY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). 0 0 3302707 935908 3029850 THE COMPANY MANAGED AND MARKETED ALL INTELLECTUAL PROPERTIES (I.E. PRODUCTS AND PROCESSES WHICH MAY BE PROTECTED BY EITHER A PATENT, TRADEMARK, COPYRIGHT, OR TRADE SECRET) DEVELOPED BY FACULTY, STAFF, OR STUDENTS OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). 3302707 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 132 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 X LISA AKERS 5402311231 1311 RESEARCH CENTER DRIVE STE 2057 BLACKSBURG VA 24060 DR DANIEL SUI CHAIR 1.00 40.00 X X 0 0 0 JUSTICE ELIZABETH A MCCLANAHAN SECRETARY/TREASURER 1.00 X X 0 0 0 ROBERT BERTIN DIRECTOR 1.00 X 0 0 0 NELSON CHU DIRECTOR 1.00 X 0 0 0 DR X J MENG DIRECTOR 1.00 40.00 X 0 397194 71995 JOHN NEWBY DIRECTOR 1.00 X 0 0 0 DR JENNIFER REYNOLDS DIRECTOR 1.00 X 0 0 0 DR BRANDY SALMON DIRECTOR 1.00 40.00 X X 0 333259 72911 SIMON ALLEN DIRECTOR 1.00 40.00 X X 0 315046 43216 GRANT BREWER DIRECTOR 1.00 40.00 X X 0 194387 46459 0 1239886 234581 0 0 1 0 PERILLA KNOX & HILDEBRANDT LLP 5871 GLENRIDGE DRIVE SUITE 350 ATLANTA GA 30328 LEGAL 535656 JOHNSON MARCOU ISAACS & NIX LLC 27 CITY SQUARE SUITE 1 HOSCHTON GA 30548 LEGAL 367716 THOMAS HORSTEMEYER LLP 3200 WINDY HILL RD SE SUITE 1600E ATLANTA GA 30339 LEGAL 180483 NEW RIVER VALLEY IP LAW PC 2200 KRAFT DRIVE SUITE 1050 BLACKSBURG VA 24062 LEGAL 143994 COMPUTER PACKAGES INC 11 N WASHINGTON ST SUITE 300 ROCKVILLE MD 20850 PATENT MAINTENANCE 114703 5 935908 935908 ROYALTY REVENUE 900099 1932349 1932349 REIMBURSEMENT OF PATEN 900099 1094462 1094462 TECH FEES 900099 3039 3039 3029850 60031 60031 4025789 3029850 0 60031 935908 935908 202166 202166 17462 17462 20962 20962 13583 13583 24542 24542 63083 63083 6113 6113 10824 10824 11444 11444 26665 26665 1417 1417 12014 12014 PATENT & TRADEMARK EXPE 1228808 1228808 ROYALTY EXPENSE 1137991 1137991 BAD DEBT EXPENSE 158872 158872 CONSULTING SERVICES 28625 28625 26610 26610 3927089 3302707 624382 0 2414712 2554375 1111975 807447 3858 3426 13477 11155 3739 2322 493581 530747 18338 7335 4046203 3905652 587882 402668 832326 862415 518338 418560 1938546 1683643 X 2107657 2222009 2107657 2222009 4046203 3905652 X 98700 15650 2 X X 0 1 X 1 0 X X 1 VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY 546001805 2 1 935908 0 1 935908 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X PART 1, LINE 12G, COLUMN (VI): THE EXPENSES BY VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. THAT ARE REPORTED ON FORM 990, PART IX WERE EXPENDED TO PROVIDE SUPPORT AND MANAGEMENT TO ITS SUPPORTED ORGANIZATION, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH). PART IV, SECTION D, LINE 3: BY LAWS: PAGE 2: ARTICLE VII, BOARD OF DIRECTORS PURSUANT TO VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. BYLAWS, THE SUPPORTED ORGANIZATION, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY, HAS THE POWER TO APPOINT AND REMOVE THE MAJORITY OF THE BOARD OF VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. (VTIP). BECAUSE OF THIS GOVERNANCE STRUCTURE, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY IS ABLE TO HAVE A SIGNIFICANT VOICE IN THE ORGANIZATION AND IN DIRECTING THE USE OF THE INCOME AND ASSETS OF VTIP. PART IV, SECTION E, LINE 1 VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. SUPPORTS VIRGINIA TECH BY PROTECTING ITS INTELLECTUAL PROPERTY (FILING PATENTS WHEN APPLICABLE) AND COMMERCIALIZING NEW TECHNOLOGIES THAT COME FROM RESEARCH AT VIRGINIA TECH. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13477 11155 2322 2322 INVESTMENTS HELD BY VTF 529274 F ALTERNATIVE INVESTMENTS 1473 F 530747 NOTES PAYABLE TO VTF 411225 OPERATING LEASE LIABILITY 7335 418560 X 2903448 15650 15650 2887798 1137991 1137991 4025789 2789096 -2 -2 2789098 1137991 1137991 3927089 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT VTIP, INC. QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS THEREFORE NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. MANAGEMENT OF VTIP, INC. BELIEVES THAT ANY INCOME TAX LIABILITY RESULTING FROM UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2025 AND 2024 WOULD NOT HAVE A SIGNIFICANT IMPACT ON ITS RESULTS OF ACTIVITIES. VTIP HAS ANALYZED FILING POSITIONS IN THE FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS, INCLUDING ITS STATUS AS A TAX-EXEMPT ORGANIZATION, AND NO RESERVES FOR UNCERTAIN TAX POSITIONS, INTEREST, OR PENALTIES, HAVE BEEN RECORDED IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: ROYALTY EXPENSE 1,137,991. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING -2. PART XII, LINE 4B - OTHER ADJUSTMENTS: ROYALTY EXPENSES 1,137,991. 1 VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY VIRGINIA TECH CAMPUS BLACKSBURG VA 24061 546001805 115 935908 0 CONSULTINGCONTRACT SERVICES PART I, LINE 2: VIRGINIA TECH INTELLECTUAL PROPERTIES PROVIDES SUPPORT TO VIRGINIA TECH FOR CONTRACTED SERVICES. X X 0 0 0 0 0 0 0 0 0 DR X J MENG DIRECTOR 0 366463 0 0 0 30731 0 38727 0 33268 0 469189 0 0 DR BRANDY SALMON DIRECTOR 0 331705 0 0 0 1554 0 41210 0 31701 0 406170 0 0 SIMON ALLEN DIRECTOR 0 268574 0 45000 0 1472 0 23126 0 20090 0 358262 0 0 GRANT BREWER DIRECTOR 0 193746 0 0 0 641 0 17220 0 29239 0 240846 0 0 PART I, LINE 3 COMPENSATION PROCESS FOR OFFICERS THE CHAIRMAN OF THE BOARD ESTABLISHES THE COMPENSATION OF THE PRESIDENT DURING THE ANNUAL PERFORMANCE REVIEW PROCESS. THE CHAIRMAN MAY USE STATISTICS FROM THE ASSOCIATION FOR UNIVERSITY TECHNOLOGY MANAGERS (AUTM) FOR COMPARISONS TO DETERMINE THE PRESIDENT'S COMPENSATION. THE PRESIDENT'S COMPENSATION INCREASES ARE DOCUMENTED BY A LETTER FROM HER/HIS SUPERVISOR, WHO IS THE CHAIRMAN OF THE BOARD. ANY ADDITIONAL COMPENSATION INCREASES OUTSIDE OF THE ANNUAL COMPENSATION REVIEW PROCESS MUST BE PRESENTED, DISCUSSED, AND APPROVED BEFORE THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS A SUBSET OF THE BOARD, AND THE BOARD ANNUALLY APPROVES THE BUDGET, WHICH INCLUDES THE COMPENSATION. FORM 990, PART VI, SECTION B, LINE 11B THE FOLLOWING DESCRIBES THE FORM 990 REVIEW PROCESS BY VTIP: MANAGEMENT AND THE ACCOUNTING STAFF PROVIDE THE NECESSARY FINANCIAL AND OTHER INFORMATION TO THE INDEPENDENT THIRD PARTY TAX CONSULTANTS. MANAGEMENT PERFORMS A DETAILED REVIEW OF THE FORM AND ANY REVISIONS ARE COMMUNICATED TO THIRD PARTY TAX CONSULTANTS. ANY REVISIONS ARE AGREED UPON BY BOTH PARTIES. PRIOR TO THE FILING DEADLINE, THE FORM IS ELECTRONICALLY PROVIDED TO ALL MEMBERS OF THE AUDIT COMMITTEE OF THE VTIP BOARD FOR THEIR REVIEW AND APPROVAL. ANY CORRECTIONS AFTER THESE REVIEWS ARE COMMUNICATED BACK TO THE THIRD PARTY TAX CONSULTANTS. ANY REVISIONS ARE AGREED UPON BY BOTH PARTIES. ONCE APPROVED, A COPY IS SENT TO ALL BOARD MEMBERS OF VTIP. IF THERE ARE NO COMMENTS OR REVISION, THE PRESIDENT THEN SIGNS THE TRANSMITTAL FORM TO PERMIT THE ELECTRONIC FILING, AS REQUIRED BY THE IRS. DISCLOSURE OF THE 990 WILL BE MADE IN FULL COMPLIANCE WITH THE REQUIREMENTS ESTABLISHED BY THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY VTIP FOLLOWS THE VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY CONFLICT OF INTEREST POLICY WHICH REQUIRES IMMEDIATE REPORTING OF ANY NEW POTENTIAL CONFLICTS OF INTEREST AND AN ANNUAL UPDATE OF THESE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION PROCESS FOR OFFICERS THE CHAIRMAN OF THE BOARD ESTABLISHES THE COMPENSATION. THE CHAIRMAN USES STATISTICS FROM THE ASSOCIATION FOR UNIVERSITY TECHNOLOGY MANAGERS (AUTM) FOR COMPARISONS TO DETERMINE THE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE THE ORGANIZATION MAKES ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING 2. PART XII, LINE 2C THERE WAS NO CHANGE TO THE COMPANY'S OVERSIGHT PROCESS IN THE CURRENT YEAR. VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY VIRGINIA TECH CAMPUS BLACKSBURG VA 24061 546001805 HIGHER EDUCATION VA 115 N/A 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0