VIRGINIA TECH TRANSPORTATION ECONOMIC DEVELOPMENT INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA TECH TRANSPORTATION ECONOMIC DEVELOPMENT INC (EIN 37-1737161)
- Tax period
- 2024-07-01 to 2025-06-30
- Filed
- 2026-04-29
- IRS object ID
- 202611199349301521
- Schema version
- 2024v5.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-04-29T11:00:12-05:00 | ReturnTs |
| Tax Period End | 2025-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 540504608 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BROWN EDWARDS & COMPANY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3906 ELECTRIC ROAD | AddressLine1Txt |
| City | ROANOKE | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24018 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 371737161 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA TECH TRANSPORTATION ECONOMIC | BusinessNameLine1Txt |
| Business Name Line2 | DEVELOPMENT INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VIRG | BusinessNameControlTxt |
| Phone | 5402312977 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 GILBERT ST GILBERT PL 5100 | AddressLine1Txt |
| City | BLACKSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24061 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SIMON PM ALLEN | PersonNm |
| Person Title | SECRETARY/TREASURER | PersonTitleTxt |
| Phone | 5402312977 | PhoneNum |
| Signature | 2026-04-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | PATRICK PITTMAN | PreparerPersonNm |
| PTIN | P00587461 | PTIN |
| Phone | 5403450936 | PhoneNum |
| Preparation | 2026-04-01 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | SIMON PM ALLEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 GILBERT ST GILBERT PL STE 5100 | AddressLine1Txt |
| City | BLACKSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24061 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,929,428 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.VTTI.VT.EDU/NATIONAL/INDEX.HTML | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2012 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | ECONOMIC DEVELOPMENT IN THE RURAL REGION OF SOUTHERN VIRGINIA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 0 | VotingMembersIndependentCnt |
| Total Employee | 34 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $5,510,872 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,893,468 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $40,378 | PYOtherRevenueAmt |
| CY Other Revenue | $35,960 | CYOtherRevenueAmt |
| PY Total Revenue | $5,551,250 | PYTotalRevenueAmt |
| CY Total Revenue | $4,929,428 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $3,500,241 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,485,551 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,340,902 | PYOtherExpensesAmt |
| CY Other Expenses | $2,511,367 | CYOtherExpensesAmt |
| PY Total Expenses | $5,841,143 | PYTotalExpensesAmt |
| CY Total Expenses | $5,996,918 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$289,893 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$1,067,490 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,963,322 | TotalAssetsBOYAmt |
| Total Assets EOY | $7,799,062 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $7,984,964 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $7,888,192 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $978,358 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$89,130 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $5,753,020 | ExpenseAmt |
| Revenue | $4,929,428 | RevenueAmt |
| Desc | 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. | Desc |
| Total Program Service Expenses | $5,753,020 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 3 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 34 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 0 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SIMON PM ALLEN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5402312977 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 GILBERT ST GILBERT PL STE 5100 | AddressLine1Txt |
| City | BLACKSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24061 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| DR CYRIL R CLARKE | ||||||||
| BOARD MEMBER | 2.00 | 38.00 | Yes (X) | Yes (X) | $0 | $617,216 | $140,692 | |
| AMY SEBRING | ||||||||
| BOARD MEMBER | 2.00 | 38.00 | Yes (X) | Yes (X) | $0 | $576,650 | $161,293 | |
| DR DIANZHI DANIEL SUI | ||||||||
| CHAIR | 2.00 | 38.00 | Yes (X) | Yes (X) | $0 | $501,647 | $63,892 | |
| JUSTICE ELIZABETH A MCCLANAHAN | ||||||||
| MANAGER (VTT, LLC) | 2.00 | 38.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SIMON PM ALLEN | ||||||||
| SECRETARY/TREASURER | 2.00 | 38.00 | Yes (X) | Yes (X) | $0 | $315,046 | $43,216 | |
| JEFF EARLEY | ||||||||
| BOARD MEMBER | 2.00 | 38.00 | Yes (X) | $0 | $269,561 | $67,722 | ||
| ZACHARY DOERZAPH | ||||||||
| PRESIDENT (VTT, LLC) | 40.00 | 0.00 | Yes (X) | $0 | $351,017 | $69,688 | ||
| FRANK DELLA PIA | ||||||||
| EXECUTIVE DIRECTOR (VTT, LLC) | 40.00 | 0.00 | Yes (X) | $253,130 | $0 | $43,084 | ||
| CHRISTINE ABSHER | ||||||||
| TREASURER (VTT, LLC) | 10.00 | 30.00 | Yes (X) | $0 | $143,734 | $48,189 | ||
| JONATHAN DARAB | ||||||||
| ENGINEERING DIRECTOR (VTT, LLC) | 40.00 | 0.00 | $194,002 | $0 | $47,948 | Yes (X) | ||
| SEAN HUBBARD | ||||||||
| RESEARCH SCIENTIST (VTT, LLC) | 40.00 | 0.00 | $150,682 | $0 | $25,655 | Yes (X) | ||
| YI LI | ||||||||
| RESEARCH SCIENTIST (VTT, LLC) | 40.00 | 0.00 | $111,303 | $0 | $20,974 | Yes (X) | ||
| LAURI MUSTONEN | ||||||||
| RESEARCH SCIENTIST (VTT, LLC) | 40.00 | 0.00 | $111,370 | $0 | $20,750 | Yes (X) | ||
| JORGE LUIS ROJAS ALBINO | ||||||||
| RESEARCH SCIENTIST (VTT, LLC) | 40.00 | 0.00 | $104,975 | $0 | $20,587 | Yes (X) | ||
| TRAVIS TERRY | ||||||||
| RESEARCH SCIENTIST (VTT, LLC) | 40.00 | 0.00 | $102,639 | $0 | $37,682 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,028,101 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $2,774,871 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $811,372 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIJO LLC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1245 PINE TREE ROAD | AddressLine1Txt |
| City | ALTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24520 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | BUILDING RENT | ServicesDesc |
| Compensation | $209,250 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TESTING, MODELING, RES | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $4,893,468 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,893,468 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,893,468 | TotalProgramServiceRevenueAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER REVENUE | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $35,960 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $35,960 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $35,960 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,929,428 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,929,428 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $981,272 | TotalAmt |
| Program Services | $942,078 | ProgramServicesAmt |
| Management And General | $39,194 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,683,448 | TotalAmt |
| Program Services | $1,616,207 | ProgramServicesAmt |
| Management And General | $67,241 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $277,760 | TotalAmt |
| Program Services | $263,872 | ProgramServicesAmt |
| Management And General | $13,888 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $355,413 | TotalAmt |
| Program Services | $309,209 | ProgramServicesAmt |
| Management And General | $46,204 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,658 | TotalAmt |
| Program Services | $170,769 | ProgramServicesAmt |
| Management And General | $16,889 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,756 | TotalAmt |
| Program Services | $11,968 | ProgramServicesAmt |
| Management And General | $1,788 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,248 | TotalAmt |
| Program Services | $49,806 | ProgramServicesAmt |
| Management And General | $7,442 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $198,721 | TotalAmt |
| Program Services | $198,721 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,434 | TotalAmt |
| Program Services | $22,434 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $108,540 | TotalAmt |
| Program Services | $92,259 | ProgramServicesAmt |
| Management And General | $16,281 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $219,330 | TotalAmt |
| Program Services | $201,979 | ProgramServicesAmt |
| Management And General | $17,351 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,894 | TotalAmt |
| Program Services | $6,894 | ProgramServicesAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,224 | TotalAmt |
| Program Services | $7,224 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $249,387 | TotalAmt |
| Program Services | $249,387 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $835,371 | TotalAmt |
| Program Services | $835,371 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $117,467 | TotalAmt |
| Program Services | $99,847 | ProgramServicesAmt |
| Management And General | $17,620 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| MATERIALS AND EQUIPMENT | $292,962 | $292,962 |
| COST OF GOODS SOLD | $141,036 | $141,036 |
| TEMPORARY HELP | $120,072 | $120,072 |
| CUSTOMER RECRUITEMENT | $80,588 | $80,588 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,337 | TotalAmt |
| Program Services | $40,337 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,996,918 | TotalAmt |
| Program Services | $5,753,020 | ProgramServicesAmt |
| Management And General | $243,898 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $1 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $237,071 | BOYAmt |
| EOY | $415,319 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,135,667 | BOYAmt |
| EOY | $645,367 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $79,519 | BOYAmt |
| EOY | $62,681 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $15,601,089 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $8,925,395 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,511,065 | BOYAmt |
| EOY | $6,675,694 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,963,322 | BOYAmt |
| EOY | $7,799,062 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $311,755 | BOYAmt |
| EOY | $383,382 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $207,812 | BOYAmt |
| EOY | $295,685 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,465,397 | BOYAmt |
| EOY | $7,209,125 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,984,964 | BOYAmt |
| EOY | $7,888,192 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $978,358 | BOYAmt |
| EOY | -$89,130 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $978,358 | BOYAmt |
| EOY | -$89,130 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,963,322 | BOYAmt |
| EOY | $7,799,062 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$1,067,490 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $2 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type1 | Yes (X) | SupportingOrgType1Ind |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 546001805 | EIN |
| Organization Type | 2 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $0 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $0 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Power Appoint Majority Dir Trst | Yes (1) | PowerAppointMajorityDirTrstInd |
| Operate Benefit Non Suprt Org | 0 | OperateBenefitNonSuprtOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART 1, LINE 12G, COLUMN (VI) | FormAndLineReferenceDesc |
| Explanation | THE EXPENSES BY VIRGINIA TECH TRANSPORTATION ECONOMIC DEVELOPMENT, 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). | ExplanationTxt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,776,284 | OtherCostOrOtherBasisAmt |
| Depreciation | $636,749 | DepreciationAmt |
| Book Value | $2,139,535 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $915,150 | OtherCostOrOtherBasisAmt |
| Depreciation | $910,431 | DepreciationAmt |
| Book Value | $4,719 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,906,505 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,375,065 | DepreciationAmt |
| Book Value | $4,531,440 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,150 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,150 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,675,694 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| DUE TO VTF | $775,000 |
| DUE TO VT | $3,824,403 |
| DUE TO VT, ACCRUED INTEREST | $440,974 |
| CONTRACT LIABILITY | $2,168,748 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $7,209,125 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | VTTEDI IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACTIVITIES THAT GENERATE UNRELATED BUSINESS INCOME, AS DEFINED BY THE IRS, ARE SUBJECT TO INCOME TAXES. VTTEDI'S FEDERAL INFORMATIONAL RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. VTTEDI HAS ANALYZED FILING POSITIONS IN THE TAX 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, NOR INTEREST AND PENALTIES, HAVE BEEN RECORDED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DR CYRIL R CLARKE | ||||||||||||||
| BOARD MEMBER | $0 | $599,583 | $0 | $0 | $0 | $17,633 | $0 | $109,527 | $0 | $31,165 | $0 | $757,908 | $0 | $0 |
| AMY SEBRING | ||||||||||||||
| BOARD MEMBER | $0 | $573,589 | $0 | $0 | $0 | $3,061 | $0 | $119,889 | $0 | $41,404 | $0 | $737,943 | $0 | $0 |
| DR DIANZHI DANIEL SUI | ||||||||||||||
| CHAIR | $0 | $496,647 | $0 | $0 | $0 | $5,000 | $0 | $42,427 | $0 | $21,465 | $0 | $565,539 | $0 | $0 |
| ZACHARY DOERZAPH | ||||||||||||||
| PRESIDENT (VTT, LLC) | $0 | $349,831 | $0 | $0 | $0 | $1,186 | $0 | $36,845 | $0 | $32,843 | $0 | $420,705 | $0 | $0 |
| SIMON PM ALLEN | ||||||||||||||
| SECRETARY/TREASURER | $0 | $268,574 | $0 | $45,000 | $0 | $1,472 | $0 | $23,126 | $0 | $20,090 | $0 | $358,262 | $0 | $0 |
| JEFF EARLEY | ||||||||||||||
| BOARD MEMBER | $0 | $268,188 | $0 | $0 | $0 | $1,373 | $0 | $36,795 | $0 | $30,927 | $0 | $337,283 | $0 | $0 |
| FRANK DELLA PIA | ||||||||||||||
| EXECUTIVE DIRECTOR (VTT, LLC) | $253,130 | $0 | $0 | $0 | $0 | $0 | $27,180 | $0 | $15,904 | $0 | $296,214 | $0 | $0 | $0 |
| JONATHAN DARAB | ||||||||||||||
| ENGINEERING DIRECTOR (VTT, LLC) | $194,002 | $0 | $0 | $0 | $0 | $0 | $21,978 | $0 | $25,970 | $0 | $241,950 | $0 | $0 | $0 |
| CHRISTINE ABSHER | ||||||||||||||
| TREASURER (VTT, LLC) | $0 | $143,041 | $0 | $0 | $0 | $693 | $0 | $20,197 | $0 | $27,992 | $0 | $191,923 | $0 | $0 |
| SEAN HUBBARD | ||||||||||||||
| RESEARCH SCIENTIST (VTT, LLC) | $150,682 | $0 | $0 | $0 | $0 | $0 | $16,887 | $0 | $8,768 | $0 | $176,337 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | FIRST-CLASS TRAVEL VTTEDI ALLOWS FOR AIR TRAVEL CLASS UPGRADES FOR BUSINESS INTERNATIONAL FLIGHTS FOR THE EXECUTIVE DIRECTOR, THE OPERATIONS DIRECTOR, AND THE TECHNICAL DIRECTOR. ALL INTERNATIONAL TRAVEL AND ANY UPGRADES FOR AIR TRAVEL ARE APPROVED IN ADVANCE BY SENIOR MANAGEMENT. TRAVEL WAS NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. |
| PART I, LINE 4B | DESCRIPTION OF THE TERMS AND CONDITIONS OF THE ARRANGEMENT: VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (THE "UNIVERSITY"), A RELATED ORGANIZATION OF VIRGINIA TECH TRANSPORTATION ECONOMIC DEVELOPMENT, INC., PROVIDES DEFERRED COMPENSATION INTO A SUPPLEMENTAL NONQUALIFIED 415M RETIREMENT PLAN FOR CERTAIN EMPLOYEES. AMOUNTS ARE DISTRIBUTABLE TO THE EMPLOYEE IN THE 7TH MONTH AFTER SEPARATION FROM THE UNIVERSITY. NAMES OF LISTED PERSONS PAID AND AMOUNTS PAID DURING THE YEAR: - DR. CYRIL R. CLARKE - CONTRIBUTIONS MADE BY THE UNIVERSITY: $8,192.50 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE FOLLOWING DESCRIBES THE FORM 990 REVIEW PROCESS BY VTTEDI: MANAGEMENT AND THE ACCOUNTING STAFF PROVIDE THE NECESSARY FINANCIAL AND OTHER INFORMATION TO THE INDEPENDENT THIRD PARTY TAX CONSULTANTS. THE TAX CONSULTANTS REVIEW AND COMPILE THE INFORMATION INTO THE FORM 990 AND PROVIDE A DRAFT TO MANAGEMENT. MANAGEMENT PERFORMS A DETAILED REVIEW OF THE FORM PRIOR TO FORWARDING IT TO THE SECRETARY/TREASURER FOR REVIEW. THE AUDIT COMMITTEE OF THE PARENT ENTITY ALSO REVIEWS THE 990. ANY CORRECTIONS AFTER THESE REVIEWS ARE COMMUNICATED BACK TO THE THIRD PARTY TAX CONSULTANTS. ANY REVISIONS ARE AGREED BY BOTH PARTIES. PRIOR TO THE FILING DEADLINE, THE FORM IS ELECTRONICALLY PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS. IF THERE ARE NO COMMENTS OR REVISION, THE SECRETARY/TREASURER 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 | VTTEDI, INC. HAS HAD AN ESTABLISHED CONFLICT OF INTEREST POLICY SINCE IT WAS INCORPORATED EFFECTIVE JUNE 5, 2013. THE POLICY APPLIES TO EACH MEMBER OF THE BOARD OF DIRECTORS, ALL PRINCIPAL OFFICERS, AND KEY EMPLOYEES OF VTTEDI, INC. COPIES OF THE POLICY ARE DISTRIBUTED TO THESE INDIVIDUALS EACH FISCAL YEAR TOGETHER WITH A COMPLIANCE QUESTIONNAIRE TO COMPLETE AND RETURN FOR THE CORPORATE RECORDS. THE PURPOSE OF THE POLICY IS TO PROTECT VTTEDI'S INTERESTS WHEN IT IS CONTEMPLATING ENTERING INTO BUSINESS TRANSACTIONS THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN INTERESTED PERSON OF VTTEDI. THE POLICY IS REVIEWED ANNUALLY AND WAS LAST REVISED EFFECTIVE SEPTEMBER 1, 2018. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE FOLLOWING DESCRIBES THE VTTEDI PROCESS FOR DETERMINING, REVIEWING AND APPROVING COMPENSATION OF THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES. THE VTTEDI COMPENSATION DETERMINATION, REVIEW, AND APPROVAL PROCESSES ARE MADE DURING THE JOB DESCRIPTION DEVELOPMENT, POSITION POSTING, HIRING PROCESS, AS WELL AS PERFORMANCE EVALUATIONS. THIS INCLUDES A MARKET ANALYSIS OF POSITIONS WITH SIMILAR BACKGROUNDS AND CREDENTIALS BASED ON THE JOB DESCRIPTION, AND THE POSITION POSTINGS USE SALARY RANGES FROM THE MARKET ANALYSIS. ALL POSITION POSTINGS ARE REVIEWED AND APPROVED BY MANAGEMENT. THE HIRING PROCESS INVOLVES COMPETITIVE SEARCHES. APPLICATIONS ARE REVIEWED BASED ON THE JOB DESCRIPTION AND THE REQUIRED QUALIFICATIONS. SENIOR MANAGEMENT APPROVE THE TERMS OF THE JOB OFFERS AND COMPENSATION. SUBSEQUENT CHANGES IN SALARY ARE BASED ON PERFORMANCE EVALUATIONS AND MARKET ANALYSIS AND APPROVED BY SENIOR MANAGEMENT. BOARD MEMBERS RECEIVE NO COMPENSATION FOR SERVICES. |
| FORM 990, PART VI, SECTION C, LINE 19 | VTTEDI PROVIDES FOR PUBLIC DISCLOSURE ALL DOCUMENTS REQUIRED BY LAW TO BE AVAILABLE FOR INSPECTION BY THE PUBLIC. |
| 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. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VTT LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 GILBERT ST GILBERT PLACE STE 51 | AddressLine1Txt |
| City | BLACKSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24061 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | RESEARCH | PrimaryActivitiesTxt |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Total Income | $4,893,468 | TotalIncomeAmt |
| End Of Year Assets | $7,799,061 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA TECH TRANSPORTATION ECONOMIC DEVELOPMENT INC | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| VIRGINIA POLYTECHNIC INST & STATE UNIV | ||||||||||
| 201 SOUTHGATE CENTER | BLACKSBURG | VA | 24061 | 545001805 | UNIVERSITY | VA | 115 | LINE 2 | N/A | 0 |
| VIRGINIA TECH FOUNDATION INC | ||||||||||
| 902 PRICES FORK ROAD STE 4000 | BLACKSBURG | VA | 24061 | 540721690 | ENDOWMENT AND REAL ESTATE PORTFOLIO MANAGEMENT | VA | 501(C)(3) | N/A | 0 | |
| VIRGINIA TECH INNOVATIONS CORPORATION | ||||||||||
| 220 GILBERT ST GILBERT PLACE STE 51 | BLACKSBURG | VA | 24061 | 274910429 | RESEARCH | VA | 501(C)(3) | N/A | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Comments