2026-05-13T12:41:35+00:00 2025-06-30 135381590 BDO USA 421 FAYETTEVILLE ST STE 300 RALEIGH NC 276011776 990 2024-07-01 844902334 NCINNOVATION INC NCIN 9194247262 4000 SANCAR WAY 400 RESEARCH TRIANGLE PARK NC 27713 Michelle Bolas President & CEO 9194247262 2026-05-13 true SANDRA L FEINSMITH P01064157 9197549370 2026-05-13 2024 2025-03-06 01:10:19Z X Michelle Bolas 4000 SANCAR WAY 400 RESEARCH TRIANGLE PARK NC 27713 798718206 false X HTTPS://NCINNOVATION.ORG/ X 2020 NC THE ORGANIZATION IS A PUBLIC-PRIVATE PARTNERSHIP TO ACCELERATE AND SCALE COMMERCIALIZED INNOVATION FROM NC'S UNIVERSITIES, CREATE JOBS, AND IMPROVE ECONOMIC OPPORTUNITIES IN ALL 100 COUNTIES OF NORTH CAROLINA. 13 13 16 14 0 253180000 250000000 0 0 5899795 22126634 0 0 259079795 272126634 2924550 9895927 0 0 2574219 5319884 0 0 0 2663095 3892197 8161864 19108008 250917931 253018626 272938913 534287080 3208135 11327855 269730778 522959225 THE ORGANIZATION IS A PUBLIC-PRIVATE PARTNERSHIP TO ACCELERATE AND SCALE COMMERCIALIZED INNOVATION FROM NC'S UNIVERSITIES, CREATE JOBS, AND IMPROVE ECONOMIC OPPORTUNITIES IN ALL 100 COUNTIES OF NORTH CAROLINA. false false 14669261 9895927 0 AS AUTHORIZED UNDER N.C. GENERAL STATUTE SEC. 143-728, NCINNOVATION ADVANCED STATEWIDE PROGRAM DEVELOPMENT IN FY2025 BY AWARDING RESEARCH COMMERCIALIZATION SUPPORT GRANTS THROUGH A SPRING CYCLE IN MAY 2025 AND A FALL CYCLE IN DECEMBER 2025. THE ORGANIZATION ALSO CONTINUED SUPPORTING ALL UNC SYSTEM UNIVERSITIES BY SUPPORTING AND BUILDING THE RESEARCH CAPACITY OF EACH INSTITUTION THROUGH NCI'S STATEWIDE REGIONAL HUB NETWORKS PROGRAM. 14669261 true true false true false false false false false true true true false false false true true false 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 false false false false false false false true 19 0 true 16 true false false false false false false false false false false false false X 13 13 false false false false false false false true true false false false true true true true true true true true false false NC X LINDA HALL 9199061806 4000 Sancar Way Suite 400 RESEARCH TRIANGLE PARK NC 27713 BLANNIE MILLER SECRETARY 1.0 0.0 X X 0 0 0 KELLY KING CHAIR 1.0 0.0 X X 0 0 0 KIRK BRADLEY VICE CHAIR 1.0 0.0 X X 0 0 0 ART POPE BOARD MEMBER 1.0 0.0 X 0 0 0 BEN TEAGUE BOARD MEMBER 1.0 0.0 X 0 0 0 BETH FRIEDRICH BOARD MEMBER (THRU 11/13/2024) 1.0 0.0 X 0 0 0 DEANNA BALLARD BOARD MEMBER (BEGAN 7/11/2024) 1.0 0.0 X 0 0 0 J CANTEY ALEXANDER BOARD MEMBER 1.0 0.0 X 0 0 0 JEFF TURNER BOARD MEMBER 1.0 0.0 X 0 0 0 KELLY FULLER BOARD MEMBER 1.0 0.0 X 0 0 0 STAN KELLY BOARD MEMBER 1.0 0.0 X 0 0 0 TODD KASPER BOARD MEMBER 1.0 0.0 X 0 0 0 VEN POOLE BOARD MEMBER 1.0 0.0 X 0 0 0 WAYNE SASSER BOARD MEMBER (BEGAN 1/1/2025) 1.0 0.0 X 0 0 0 J BENNET WATERS PRESIDENT & CEO 40.0 0.0 X 610683 0 73897 JOSH HOWARD SVP & CHIEF RISK OFFICER 40.0 0.0 X 277083 0 52589 LINDA HALL EVP & CFO 40.0 0.0 X 234659 0 31471 MICHELLE BOLAS EVP & CIO 40.0 0.0 X 406100 0 59764 ERICA SHRADER Vice President, Corporate Affairs 40.0 0.0 X 174167 0 21606 ERIN HOPPER Vice President, Grants & Research 40.0 0.0 X 182417 0 18354 LOUIS JUDGE III Senior Regional Innovation Director 40.0 0.0 X 139458 0 12971 M DERRICK WELCH Senior Regional Innovation Director 40.0 0.0 X 140708 0 62937 MARY LOU BOURNE Senior Regional Innovation Director 40.0 0.0 X 139458 0 33997 2304733 0 367586 12 false true false RTI INTERNATIONAL PO BOX 896945 RTP NC 27709 CONTRACT RESEARCH SERVICES 430597 SMITH ANDERSON BLOUNT DORSETT MITCHELL & JERNIGAN LLP PO BOX 2611 RALEIGH NC 27602 LEGAL SERVICES 287808 ADFERO 1101 15TH STREET NW 500 STE 250 WASHINGTON DC 20005 MARKETING & COMMUNICATIONS 185860 MCGUIRE WOODS LLP 800 EAST CANAL STREET RICHMOND VA 23219 LOBBYING EXPENSES 121006 JAMES A HARRELL III & ASSOCIATES PLLC 4405 SANDBRIDGE CT RALEIGH NC 27612 LOBBYING EXPENSES 120500 6 250000000 250000000 0 0 0 0 0 22142137 0 0 22142137 0 0 526576069 526591572 -15503 0 -15503 0 0 -15503 0 0 0 0 0 0 0 0 0 0 0 0 0 0 272126634 0 0 22126634 9895927 9895927 0 0 0 0 0 0 2435669 1471309 964360 0 0 0 0 0 2240765 1415634 825131 0 92327 58232 34095 0 305707 204789 100918 0 245416 155946 89470 0 0 0 0 0 1366132 0 1366132 0 176054 96830 79224 0 552845 0 552845 0 0 0 89390 82243 7147 0 809376 661128 148248 0 286982 202482 84500 0 34539 19825 14714 0 200641 162763 37878 0 0 0 0 0 195598 116572 79026 0 95323 74157 21166 0 0 0 0 0 50274 46791 3483 0 0 0 0 0 0 0 0 0 17432 0 17432 0 3317 0 3317 0 MISCELLANEOUS 14294 4633 9661 0 0 0 0 0 19108008 14669261 4438747 0 1210643 221016 0 0 13957264 9570418 0 0 0 0 0 0 0 0 0 0 59180 106021 97353 20232 30586 77121 0 0 257681240 524312504 0 0 0 0 0 272938913 534287080 283585 1732388 2924550 9595467 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3208135 11327855 X 67229 1201398 269663549 521757827 0 0 0 0 0 0 269730778 522959225 272938913 534287080 X 253018626 209821 X X false true true false X 3600000 7950000 9220000 254180000 250000000 524950000 0 0 3600000 7950000 9220000 254180000 250000000 524950000 0 524950000 0 0 62256 5884292 22142137 28088685 0 0 0 1000 0 0 1000 553039685 0 0.94921 0.97888 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER REVENUE, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 1000.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 1000.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 552845 0 552845 0 18555163 0 19108008 0 1000000 0 250000 0 0 0 0 0 79896 257668 558093 1000000 1895657 2843486 0 267184 464598 552845 1284627 19974 64417 139523 250000 473914 710871 0 0 0 0 0 Schedule C, Part II-A LINE 2C - LOBBYING EXPENDITURES NCInnovation is currently reviewing the direct lobbying expenditures reported on its Form 990s for previous fiscal years. If during this review NCInnovation determines that its direct lobbying expenditures reported for previous fiscal years is incorrect, it will file one or more amended Form 990s as necessary to report the correct amounts. 255706285 250000000 21981381 12820937 2679320 512187409 0 250000000 5706285 0 0 255706285 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 1.0 0.0 false false 26763 0 26763 70590 20232 50358 77121 Closely-held equity interests Financial derivatives STATE FUNDED ENDOWMENT 521783336 F PRIVATE FUNDS 2529168 F 524312504 0 X 272329308 209821 209821 272119487 7147 0 7147 272126634 19100861 0 0 19100861 7147 0 7147 19108008 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND THE APPLICABLE NORTH CAROLINA STATUTE. THEREFORE, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN ALLOWANCE FOR DOUBTFUL PLEDGES - NPV - 209821 true APPALACHIAN STATE UNIVERSITY 438 ACADEMY STREET BOONE NC 28608 561176030 GOV'T ENTITY 1195106 AI MICROSCOPY FOR LIVESTOCK INTESTINAL PARASITE DETECTION UNC CHARLOTTE 9201 UNIVERSITY CITY CHARLOTTE NC 28223 560791228 GOV'T ENTITY 671357 PANCREATIC CANCER THERAPEUTIC WINSTON-SALEM STATE UNIVERSITY 601 MARTIN LUTHER WINSTONSALEM NC 27110 566001466 GOV'T ENTITY 655400 AI-ENABLED SAAS CLINICAL TRAINING PLATFORM FOR NURSES APPALACHIAN STATE UNIVERSITY 438 ACADEMY STREET BOONE NC 28608 561176030 GOV'T ENTITY 641951 BEEHIVE IMPROVEMENT AND MONITORING SYSTEM FAYETTEVILLE STATE UNIVERSITY 1200 MURCHISON ROAD FAYETTEVILLE NC 28301 561238736 GOV'T ENTITY 627523 HEMP-BASED BIO PESTICIDE FOR USE IN COMMERCIAL POULTRY HOUSES UNC WILMINGTON 601 S COLLEGE RD WILMINGTON NC 28403 561258660 GOV'T ENTITY 532647 VACCINE DEVELOPMENT EASTERN CAROLINA UNIVERSITY 209 E 5TH STREET 211 GREENVILLE NC 27858 566000403 GOV'T ENTITY 532000 ONCOLOGY - MELANOMA UNC CHAPEL HILL 104 AIRPORT DRIVE CHAPEL HILL NC 27599 566001393 GOV'T ENTITY 514877 TREATMENT FOR LUNG FIBROSIS UNC CHAPEL HILL 104 AIRPORT DRIVE CHAPEL HILL NC 27599 566001393 GOV'T ENTITY 500000 ULTRASOUND FOR RURAL SETTINGS UNC CHARLOTTE 9201 UNIVERSITY CITY CHARLOTTE NC 28223 560791228 GOV'T ENTITY 451050 VACCINE COLD STORAGE UNC PEMBROKE 1 UNIVERSITY DRIVE PEMBROKE NC 28372 566000805 GOV'T ENTITY 442571 ALZHEIMER'S / TRAUMATIC BRAIN INJURY THERAPEUTIC WESTERN CAROLINA UNIVERSITY 1 UNIVERSITY DRIVE CULLOWHEE NC 28723 566001440 GOV'T ENTITY 412551 MOSQUITO-BORNE INFECTIOUS DISEASE NORTH CAROLINA AGRICULTURAL AND TECHNICAL STATE UNIVERSITY 1601 E MARKET STREET GREENSBORO NC 27411 566000007 GOV'T ENTITY 370012 CLINICAL KNEE ARTHROMETER TO MEASURE KNEE LAXITY NORTH CAROLINA STATE UNIVERSITY 2601 WOLF VILLAGE WAY RALEIGH NC 27695 566000756 GOV'T ENTITY 358448 WOUND BANDAGE FOR RAPID HEALING UNIVERSITY OF NORTH CAROLINA AT WILMINGTON 601 S COLLEGE RD WILMINGTON NC 28403 561258660 GOV'T ENTITY 325021 NECK STRENGTH ASSESSMENT DEVICE WITH BROAD MILITARY AND SPORTS APPLICATION EASTERN CAROLINA UNIVERSITY 209 E 5TH STREET 211 GREENVILLE NC 27858 566000403 GOV'T ENTITY 317033 MINIATURE WIND TUNNEL FOR THE TESTING OF PESTICIDES UNIVERSITY OF NORTH CAROLINA AT GREENSBORO 1111 SPRING GARDEN STREET GREENSBORO NC 27412 566001468 GOV'T ENTITY 306059 PHEROMONE-BASED TECHNOLOGY FOR PEST AND DISEASE RESISTANT HONEYBEES EASTERN CAROLINA UNIVERSITY 209 E 5TH STREET 211 GREENVILLE NC 27858 566000403 GOV'T ENTITY 280819 STUTTERING PLATFORM FOR SUPPORTING SPEECH LANGUAGE PATHOLOGISTS UNIVERSITY OF NORTH CAROLINA AT GREENSBORO 1111 SPRING GARDEN STREET GREENSBORO NC 27412 566001468 GOV'T ENTITY 253000 ANALYTICAL METHOD FOR IDENTIFYING MOLECULAR ISOMERS NORTH CAROLINA STATE UNIVERSITY 2601 WOLF VILLAGE WAY RALEIGH NC 27695 566000756 GOV'T ENTITY 221390 NEW PROCESS FOR MANUFACTURING SYNTHETIC WOOL MORE SUSTAINABLY AND WITH LESS HEALTH RISK NORTH CAROLINA AGRICULTURAL AND TECHNICAL STATE UNIVERSITY 1601 E MARKET STREET GREENSBORO NC 27411 566000007 GOV'T ENTITY 184512 DRUG DELIVERY MECHANISM UNC ASHEVILLE 1 UNIVERSITY HEIGHTS ASHEVILLE NC 28804 566002379 GOV'T ENTITY 102600 PATENT DISCOVERY FOR UNIQUE ANTIBIOTIC COMPOUNDS 22 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds THE ORGANIZATION'S GRANT AND MONITORING PROCESS CAN BE FOUND AT https://www.ncinnovation.org/rfp. X X false false false false false false false false false J BENNET WATERS PRESIDENT & CEO 403183 0 207500 0 0 0 30500 0 43397 0 684580 0 0 0 MICHELLE BOLAS EVP & CIO 319850 0 86250 0 0 0 16367 0 43397 0 465864 0 0 0 JOSH HOWARD SVP & CHIEF RISK OFFICER 277083 0 0 0 0 0 16625 0 35964 0 329672 0 0 0 LINDA HALL EVP & CFO 234659 0 0 0 0 0 14000 0 17471 0 266130 0 0 0 ERIN HOPPER Vice President, Grants & Research 165417 0 17000 0 0 0 18242 0 112 0 200771 0 0 0 ERICA SHRADER Vice President, Corporate Affairs 174167 0 0 0 0 0 9900 0 11706 0 195773 0 0 0 M DERRICK WELCH Senior Regional Innovation Director 127708 0 13000 0 0 0 23000 0 39937 0 203645 0 0 0 LOUIS JUDGE III Senior Regional Innovation Director 126458 0 13000 0 0 0 0 0 12971 0 152429 0 0 0 MARY LOU BOURNE Senior Regional Innovation Director 126458 0 13000 0 0 0 13946 0 20051 0 173455 0 0 0 Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS AND ALSO REVIEWED BY THE FULL BOARD FOR APPROVAL PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THIS NCINNOVATION, INC. CONFLICTS OF INTEREST AND GIFT POLICY (THIS "POLICY") IMPLEMENTS THE REQUIREMENTS OF SECTION 143-728(D)(7)-(8) OF THE NORTH CAROLINA GENERAL STATUTES. THIS POLICY APPLIES TO ALL CURRENT NCINNOVATION, INC. ("NCI") EMPLOYEES, OFFICERS, AND DIRECTORS, AND ANY OTHER INDIVIDUALS DESIGNATED BY THE BOARD OF DIRECTORS OF NCI (THE "BOARD") FROM TIME TO TIME AS SUBJECT TO THIS POLICY (COLLECTIVELY, "SUBJECT PERSONS"). THIS POLICY PROVIDES NCI WITH PROCEDURES AND STANDARDS TO GUIDE SUBJECT PERSONS IN THE PERFORMANCE OF THEIR DUTIES AND TO PREVENT SUBJECT PERSONS FROM BENEFITING FROM OR HOLDING AN EQUITY POSITION IN ANY INTELLECTUAL PROPERTY, LICENSING, OR BUSINESS ENTITY SUPPORTED OR FUNDED BY NCI. IN ADDITION TO THE NCI-SPECIFIC REQUIREMENTS UNDER THE ABOVE-REFERENCED STATUTE, THE DIRECTORS AND OFFICERS OF NCI OWE FIDUCIARY DUTIES TO NCI UNDER CHAPTER 55A OF THE NORTH CAROLINA GENERAL STATUTES, OTHERWISE KNOWN AS THE NORTH CAROLINA NONPROFIT CORPORATION ACT, TO ACT IN GOOD FAITH, WITH THE CARE AN ORDINARILY PRUDENT PERSON IN A LIKE POSITION WOULD EXERCISE UNDER SIMILAR CIRCUMSTANCES, AND IN A MANNER REASONABLY BELIEVED TO BE IN THE BEST INTERESTS OF NCI. THIS POLICY IS INTENDED TO SUPPLEMENT AND NOT SUPERSEDE ANY APPLICABLE LAW, INCLUDING (WITHOUT LIMITATION) THE PROVISIONS OF THE NORTH CAROLINA NONPROFIT CORPORATION ACT REGARDING DIRECTOR CONFLICTS OF INTEREST. NOTHING IN THIS POLICY AUTHORIZES NCI OR ANY SUBJECT PERSON TO ENGAGE IN ANY ACT OF SELF-DEALING, INUREMENT OR ANY OTHER ACT PROHIBITED BY APPLICABLE LAW OR REGULATION. FOR ADDITIONAL DETAILS REGARDING OUR POLICY SEE THE WRITTEN POLICY ON OUR WEBSITE AT https://ncinnovation.static.amais.com/ConflictsofInterestandGiftsPolicy-1286.pdf?version=639074803076230000 Form 990, Part VI, Line 15a Process to establish compensation of top management official THE ORGANIZATION USES 3RD PARTY MARKET DATA FOR BENCHMARKING WHEN DETERMINING OFFICER COMPENSATION. CEO COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS DOCUMENTS AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN ALLOWANCE FOR DOUBTFUL PLEDGES - NPV - 209821; Total - 209821; Form 990, Part XII, Line 2c Change of oversight process or selection process THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. GENERAL NOTE 1 NCInnovation's Form 990 for June 30, 2023, reported on Schedule B a $1,000,000 pledge receivable from the Ven Poole Family made on February 2, 2023. Ven Poole is a member of NCInnovation's board of directors. On its Form 990 for fiscal year ended June 30, 2023, NCInnovation should have removed that $1,000,000 pledge receivable from Schedule B and replaced it with a $1,000,000 pledge receivable due from C3 Foundation, a private foundation created by Ven Poole and members of his family. NCInnovation does not believe any excess benefit was conferred on Ven Poole as a result; however, NCInnovation is making this disclosure in the interests of full transparency.