2022-09-08T12:25:15-04:00 2021-06-30 990 2020-07-01 541282820 VIRGINIA INNOVATION PARTNERSHIP CORPORATION VIRG 7036893021 2214 ROCK HILL ROAD SUITE 600 HERNDON VA 20170 SUSAN AITCHESON CFO 7036893021 2022-05-15 SUSAN AITCHESON 999009999 2020 2022-09-23 18:48:47Z BOB STOLLE 76061606 false X X 1984 VA VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP. 7 7 32 0 12890091 68366790 15242753 7483792 362822 146381 64643 28495666 76061606 2553938 6303199 0 5114885 5165915 0 0 8694658 10181140 16363481 21650254 12132185 54411352 23262960 80085835 1428870 3759991 21834090 76325844 X VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCESLERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP. false false 6862847 5903199 THE COMMONWEALTH COMMERCIALIZATION FUND (CCF), INCLUDING ITS PREDECSSOR PROGRAMS THE COMMONWEALTH RESEARCH COMMERCIALIZATION FUND (CRCF) AND THE VIRGINIA RESEARCH INVESTMENT FUND (VRIF), DRIVES ECONOMIC GROWTH IN THE COMMONWEALTH BY INVESTING IN HIGH-POTENTIAL TECHNOLOGIES THAT CAN POSITION VIRGINIA AS A NATIONAL LEADER IN SCIENCE AND TECHNOLOGY BASED RESEARCH, DEVELOPMENT AND COMMERCIALIZATION. IN TOTAL, MORE THAN 39M HAS BEEN AWARDED TO 417 PROJECTS ACCROSS THE LIFESPAN OF THE THREE PROGRAMS. SINCE THE PROGRAM'S INCEPTION, AWARDEES HAVE REPORTED MORE THAN 775M IN FOLLOW- ON FUNDING AND MORE THAN 20M IN IN-KIND CONTRIBUTIONS. 5089738 3250669 THE GROWTH ACCELERATION PROGRAM (GAP) FUND WAS ESTABLISHED TO MEET THE EARLY STAGE CAPITAL DEMANDS CHALLENGING THE COMMONWEALTH'S MOST PROMISING SCIENCE AND TECHNOLOGY BASED START-UPS WHOSE FUNDING REQUIREMENTS COULD NOT BE MET BY TRADITIONAL FINANCING MEANS. GAP FUND INVESTMENTS ARE GOVERNED BY THE GOAL OF DEVELOPING THE NEXT GENERATION OF VIRGINIA'S SCIENCE AND TECHNOLOGY ECONOMY AND THE ENTREPRENEURIAL ECOSYSTEM REQUIRED TO SUPPORT THAT ECONOMY. SINCE THE PROGRAM'S INCEPTION IN 2005, THE GAP FUND PROGRAM HAS INVESTED 34.7M IN 257 SEED AND EARLY STAGE TECHNOLOGY, LIFE SCIENCE, AND ENERGY COMPANIES ACROSS THE COMMONWEALTH. GAP INVESTMENTS HAVE ATTRACTED IN 1.3B IN PRIVATE CAPITAL. PROGRAM SERVICE REVENUE CONSISTS OF PROCEEDS ON LIQUIDATED GAP INVESTMENTS. 3755422 4054195 UNDER VIPC'S CONTRACT WITHTHE US DEPARTMENT OF HOMELAND SECURITY SCIENCE AND TECHNOLOGY DIRECTORATE, THE SMART CITY IOT INNOVATION (SCITI LABS) PROGRAM PIONEERED A NEW APPROACH TO R&D, COMMERCIAL FIRST INNOVATION (TM) DESIGNED TO SPEED DELIVERY OF INNOVATIVE TECHNOLOGIES TO FIRST RESPONDERS. COMMERCIAL FIRST ENCOURAGES ENTREPRENEURS ALREADY SUCEEDING IN RELATED MARKETS TO INNOVATE IDEAS THAT ADDRESS THE UNIQUE NEEDS OF THE HOMELAND SECURITY AND PUBLIC SAFETY COMMUNITIES. SCITI LABS HAS STRATEGICALLY POSITIONED THE COMMONWEALTH OF VIRGINIA TO ASSUME A NATIONAL LEADERSHIP ROLE IN THE PUBLIC SAFETY DOMAIN AS IT EVOLVES TO FACE THE NEW OPPORTUNIITES AND CHALLENGES ASSOCIATED WITH SMART COMMUNITIES. 2529571 63414 EXPENSES 2,529,571 INCLUDING GRANTS OF 0, REVENUES 63,414 DESCRIPTION: OTHER PROGRAM SERVICES 1. ENTREPRENEUR ECOSYSTEMS 2. COMMONWEALTH SUPPORT PROGRAMS 3. UNMANNED SYSTEMS 4. OTHER STRATEGIC INITIATIVES 2529571 63414 18237578 true true false true false false false false false false false false false false false false false true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false true 52 0 true 32 true false false false false false false false false false false false false X 7 7 false false true false false false false true true false false true true true true true true true false true true X SUSAN AITCHESON 7036893021 2214 ROCK HILL RD SUITE 600 HERNDON VA 20170 ED ALBRIGO PRESIDENT AN 40.00 X 334598 0 19454 TOM WEITHMAN MANAGING DIR 40.00 X 248121 0 58273 DAVE IHRIE CHIEF TECH O 40.00 X 221927 0 55130 BOB STOLLE SR VP, AND P 40.00 X 216081 0 45224 SUSAN AITCHESON CFO 40.00 X 193371 0 33666 NANCY VORONA VP, RESEARCH 40.00 X 174872 0 40435 MARCO RUBIN DIR, INVESTM 40.00 X 165030 0 48361 KRISTAL PARKER DIRECTOR, HR 40.00 X 126877 0 34735 ALEX EULER DIR, INVESTM 40.00 X 130369 0 30864 LESLIE WILLIAMS DIR, BUSINES 40.00 X 132450 0 26407 TRACY TYNAN DIR, UNMANNE 40.00 X 126613 0 17496 MONIQUE ADAMS DIRECTOR 1.00 X 0 0 0 BRIAN BALL VICE CHAIR & 2.00 X X 0 0 0 BARBARA BOYAN DIRECTOR 1.00 X 0 0 0 RICHARD HALL DIRECTOR 1.00 X 0 0 0 CHIEDO JOHN DIRECTOR 1.00 X 0 0 0 KURT JOHN DIRECTOR 1.00 X 0 0 0 PAULA SORRELL DIRECTOR 1.00 X 0 0 0 2070309 410045 18 false true false TECHNEXUS LLC 20 N WACKER DR STE 1200 CHICAGO IL 60606 SUBCONTRACTOR 513413 SMART CITY WORKS INC 7950 JONES BRANCH DR 8TH FLOOR MCLEAN VA 22102 SUBCONTRACTOR 361103 VITA 11751 MEADOWVILLE LANE CHESTER VA 23836 SUBCONTRACTOR 293970 MUTUALINK INC 1269 SOUTH BROAD STREET WALLINGFORD CT 06492 SUBCONTRACTOR 279365 ATA 318 CENTER STREET N VIENNA VA 22180 SUBCONTRACTOR 200000 15 68366790 68366790 FEDERAL AND STATE AWARDS 900099 4273072 4273072 GAIN ON GAP INVESTMENT 900099 2576202 2576202 GAP PROGRAM REVENUE 900099 634518 634518 7483792 146381 146381 MISCELLANEOUS REVENUE 900099 64643 64643 64643 76061606 7548435 146381 6303199 6303199 1614556 413683 1200873 2414980 1301455 1113525 338750 338750 522969 522969 274660 274660 22991 22991 76154 76154 34431 34431 28203 28203 251349 251349 80402 80402 2394 2394 50226 50226 STRATEGIC INITIATIVES 4478410 4478410 INVESTMENT DIVISION 4012214 4012214 UNMANNED SYSTEMS 659907 659907 OTHER EXPENSES 484459 293809 190650 774901 -774901 21650254 18237578 3412676 0 X 337 337 22140395 78229199 893397 1588344 186520 266449 240 42071 1506 23262960 80085835 1428870 3759991 1428870 3759991 X 21834090 76325844 21834090 76325844 23262960 80085835 X 54411352 80402 X X false true X false false X 12096093 11657894 11066098 12890091 68366790 116076966 12096093 11657894 11066098 12890091 68366790 116076966 116076966 113772 355601 309688 362822 146381 1288264 49541 493355 1651084 2193980 119559210 30485675 0.97090 0.90860 X PART II, LINE 10 GAIN ON GAP INVESTMENT 2,033,558 GAIN ON INV IN M37 EQUITY POOL LLC 37,108 LOSS ON INV IN M37 CARRIED INTEREST -4,522 MISC & COLLECTION OF DOUBTFUL ACCTS 127,836 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 1770 false false 1770 false SCHEDULE C, PART IV PT II - B LINE 1: VIPC STAFF ENGAGES WITH COMMONWEALTH OF VIRGINIA LEGISLATORS AND THEIR STAFF REGARDING FUNDING RELATED TO THE EXECUTION OF VIPC'S MISSION. false 3 RIDGE TECHNOLOGIES 300 RUTHERFORD ST LYNCHBURG VA 24501 850898756 60000 RESEARCH ACTIVATION CAPITAL 800 EAST LEIGH ST RICHMOND VA 23219 541640716 501C3 200000 RESEARCH AGROSPHERES INC 1180 SEMINOLE TRAIL SUITE 100 CHARLOTTESVILLE VA 22901 822380914 135000 RESEARCH AQUASYS LLC 6384 WINGATE ST ALEXANDRIA VA 22312 824062006 75000 RESEARCH ATWORK SYSTEMS LLC 1530 WILSON BLVD SUITE 650 ARLINGTON VA 22209 813554723 60000 RESEARCH AZIMUTH1 LLC 1751 PINNACLE DR SUITE 600A MCLEAN VA 22102 461545078 75000 RESEARCH BABYLON MICROFARMS INC 3409 CARLTON ST RICHMOND VA 23230 811434018 135000 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CRYSTAL DR SUITE 400 ARLINGTON VA 22202 811587016 133140 RESEARCH FEND INCORPORATED 4600 FAIRFAX DR SUITE 410 ARLINGTON VA 22203 830880904 60000 RESEARCH GATACA LLC 180 ORCHARD HILL LANE NEWPORT VA 24128 201835440 75000 RESEARCH GREENTECH VENTURES INC 13615 BARE ISLAND DR CHANTILLY VA 20151 822201551 60000 RESEARCH ICBIOME INC 23292 MEADOWVALE GLEN ST STERLING VA 20166 472854967 75000 RESEARCH ICARUS MEDICAL LLC 105 E MAIN ST CHARLOTTESVILLE VA 22902 843239766 10000 RESEARCH ITUS DIGITAL 7042 CAMPBELL DR SALEM VA 24153 843362358 60000 RESEARCH JEEVA INFORMATIC SOLUTIONS 10432 BALLS FORD RD MANASSAS VA 20109 833712475 60000 RESEARCH KESHIF LLC 950 N WASHINGTON ST ALEXANDRIA VA 22314 814941037 60000 RESEARCH LASER THERMAL ANALYSIS INC 1717 ALLIED LANE SUITE B CHARLOTTESVILLE VA 22903 863503351 30000 RESEARCH LI INDUSTRIES INC 1872 PRATT DR SUITE 1500 BLACKSBURG VA 24060 821643125 135000 RESEARCH MERU BIOTECHNOLOGIES 800 E LEIGH ST RICHMOND VA 23219 834245825 135000 RESEARCH METAFORM LLC 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RESEARCH SERVICE ROBOTICS & TECHNOLOGIES 2231 CRYSTAL DR SUITE 1000 ARLINGTON VA 22202 463757946 75000 RESEARCH SOUTHEASTERN UNIV RESRCH ASSOC INC 1201 NEW YORK AVE NW STE 430 WASHINGTON DC 20005 541156453 501C3 40000 RESEARCH SVT ROBOTICS INC 730 W 20TH ST NORFOLK VA 23517 371953788 60000 RESEARCH TOTEM SYSTEMS INC 1717 E CARY ST RICHMOND VA 23223 822675630 60000 RESEARCH TYMPANOGEN INC 800 E LEIGH ST RICHMOND VA 23219 364821323 45000 RESEARCH VALLEYS INNOVATION COUNCIL 2200 KRAFT DR SUITE 1350 BLACKBURG VA 24060 462975294 501C3 200000 RESEARCH UNIVERSITY OF VIRGINIA 1001 N EMMET ST CHARLOTTESVILLE VA 22904 546001796 501C3 412958 RESEARCH VIRGINIA COMMONWEALTH UNIVERSITY BOX 843039 RICHMOND VA 23284 546001758 501C3 270000 RESEARCH VA INSTITUTE FOR MARINE SCIENCE PO BOX 350 WACHAPREAGUE VA 23480 546001802 501C3 19612 RESEARCH VIRGINIA TECH 300 TURNER ST NW SUITE 4200 BLACKSBURG VA 24061 546001805 501C3 681168 RESEARCH VISUAL WORKFORCE INC 1717 E CARY ST RICHMOND VA 23223 821086736 60000 RESEARCH WYNNVISION LLC 800 E LEIGH ST RICHMOND VA 23219 812940759 75000 RESEARCH ZEOVATION INC 11100 ENDEAVOR CT STE 133 137 MANASSAS VA 20109 814244876 60000 RESEARCH KEVIRX INC 722 PRESTON AVE SUITE 108 CHARLOTTESVILLE VA 22903 812921742 75000 RESEARCH LEADING EDGE ADVCS FIBERS INC 4006 HUNTERSTAND CT STE 101 CHARLOTTESVILLE VA 22911 842188016 60000 RESEARCH 9 48 X X X X X X true false false false false false false false false ED ALBRIGO PRESIDENT AND CEO 251352 83246 3162 16292 354052 TOM WEITHMAN MANAGING DIR & VP 246111 2010 29533 28740 306394 DAVE IHRIE CHIEF TECH OFFICER 219917 2010 26390 28740 277057 BOB STOLLE SR VP, AND PRES&CEO 212768 3313 25532 19692 261305 SUSAN AITCHESON CFO 191853 1518 23022 10644 227037 NANCY VORONA VP, RESEARCH INVEST 172862 2010 20743 19692 215307 MARCO RUBIN DIR, INVESTMENT SVCS 163512 1518 19621 28740 213391 KRISTAL PARKER DIRECTOR, HR 125359 1518 15043 19692 161612 ALEX EULER DIR, INVESTMENT SVCS 129449 920 15534 15330 161233 LESLIE WILLIAMS DIR, BUSINESS OPER 131359 1091 15763 10644 158857 SCHEDULE J, PAGE 1, PART I, LINE 4 ED ALBRIGO 66,145 0 0 FORM 990 FORM 990, SCHEDULE J, PART I LINE 4A: 66,145 OF THE 83,246 ON PART II LINE 1 B(III) IS ATTRIBUTABLE TO SEVERANCE AND THE REMAINING 17,101 IS FOR OTHER REPORTABLE COMPENSATION. FORM 990, PAGE 2, PART III, LINE 4D EXPENSES 2,529,571 INCLUDING GRANTS OF 0, REVENUES 63,414 DESCRIPTION: OTHER PROGRAM SERVICES 1. ENTREPRENEUR ECOSYSTEMS 2. COMMONWEALTH SUPPORT PROGRAMS 3. UNMANNED SYSTEMS 4. OTHER STRATEGIC INITIATIVES FORM 990, PAGE 6, PART VI, LINE 4 THE ORGANIZATION AMENDED AND RESTATED ITS ARTICLES OF INCORPORATION TO CHAGNE ITS NAME FROM CENTER FOR INNOVATIVE TECHNOLOGY TO VIRGINIA INNOVATION PARTNERSHIP CORPORATION, EFFECTIVE OCTOBER 1, 2021. THE ARTICLES OF RESTATEMENT HAVE BEEN FILED WITH AND ACCEPTED BY THE COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 WAS PREPARED BY THE CONTROLLER, REVIEWED BY THE CFO, AND PROVIDED TO VIPC'S OFFICERS AND BOARD OF DIRECTORS, WHO WERE REQUESTED TO PROVIDE COMMENTS AND QUESTIONS PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 12C ALL VIPC EMPLOYEES PROVIDE A FINANCIAL DISCLOSURE STATEMENT ANNUALLY. THE STATEMENT INCLUDES THE NAME OF ANY ORGANIZATION THAT VIPC WORKS WITH IN WHICH THE EMPLOYEE HOLDS A SECURITY OR EQUITY INTEREST, IS A DIRECTOR OR OFFICER, OR HAS RECEIVED ANY GIFTS, PAYMENTS OR ANY TYPE OF COMPENSATION OFMORE THAN A NOMINAL VALUE. IN ADDITION, THE PRESIDENT AND CEO IS REQUIRED TO NOTIFY THE CHAIRMAN OF THE BOARD OF DIRECTORS, IN WRITING, OF ALL AFFILIATIONS WITH ANY INDIVIDUAL OR ORGANIZATION THAT SOLICITS VIPC SERVICES. THE DIRECTORS PROVIDE A FINANCIAL DISCLOSURE STATEMENT TO THE SECRETARY OF THE COMMONWEALTH OF VIRGINIA ANNUALLY. THE STATEMENT INCLUDES INFORMATION REGARDING PERSONAL AND BUSINESS FINANCIAL INTERESTS. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION OF THE PRESIDENT AND CEO IS SET BY THE BOARD OF DIRECTORS. SEE SCHEDULE J, LINE 3 FOR MORE INFORMATION. FORM 990, PAGE 6, PART VI, LINE 19 VIPC'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. THE AUDITED FINANCIAL STATEMENTS OF THE VIRGINIA INNOVATION PARTNERSHIP AUTHORITY (VIPA) AND ITS BLENDED COMPONENT UNIT, VIRGINIA INNOVATION PARTNERSHIP CORPORATION (VIPC), ARE AVAILABLE ON THE AUDITOR OF PUBLIC ACCOUNTS WEBSITE, WWW.APA.VIRGINIA.GOV. FORM 990, PART X PART X LINE 13: PROGRAM RELATED INVESTMENTS ARE COMPRISED OF GAP PROGRAM EQUITY IN 90 COMPANIES, VALUED AT 0. VIPC HAS NOT RECORDED THE VALUE OF THESE EQUITY SECURITIES AS THESE INVESTMENTS DO NOT HAVE A READY MARKET TO INDICATE THEIR MARKET VALUE. NONE OF THESE INVESTMENTS ARE TRADED ON AN OPEN MARKET, NOR DO THEY HAVE A CLEAR SECONDARY MARKET. FORM 990, PART XI, LINE 9 TRANSFER FROM VIPA - RENT 80,402 PART XI LINE 9: 80,402 IS THE AMOUNT TRANSFERED TO VIPC FROM VIPA FOR RENT EXPENSE. VIPA IS THE RELATED TAX-EXEMPT ORGANIZATION IDENTIFIED IN SCHEDULE R. FORM 990, PART XII PART XII LINE 2C: THE VIPA BOARD OF DIRECTORS MEETS ANNUALLY WITH THE AUDITOR OF PUBLIC ACCOUNTS TO RECEIVE THE RESULTS OF THE ANNUAL AUDIT. THE BOARD OF DIRECTORS DOES NOT OVERSEE THE SELECTION OF THE INDEPENDENT AUDITOR. AS THE NON-STOCK, NOT-FOR-PROFIT CORPORATION WHICH ACTS AS THE OPERATING ARM OF VIPA, VIPC'S FINANCIAL STATEMENTS ARE AUDITED ANNUALLY DURING THE AUDIT OF VIPA'S FINANCIAL STATEMENTS. SECTION 2.2-2229 OF THE CODE OF VIRGINIA STATES THAT THE ACCOUNTS AND BOOKS OF VIPA WILL BE EXAMINED BY THE AUDITOR OF PUBLIC ACCOUNTS. VA INNOVATION PARTNERSHIP AUTHORITY 2214 ROCK HILL RD STE 600 HERNDON VA 20170 541491096 ACCEL TECH VA N/A false false false false false false false false false false false false false false false false false false false true VA INNOVATION PARTNERSHIP AUTHORITY S 80402 ACTUALS