2026-05-15T09:22:30-05:00 2025-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 200 SOUTH 10TH ST STE 900 RICHMOND VA 23219 990 2024-07-01 541282820 VIRGINIA INNOVATION PARTNERSHIP CORPORATION VIRG 7036893035 2214 ROCK HILL ROAD 600 HERNDON VA 20170 LESLIE WILLIAMS CHIEF ADMINISTRATIVE OFFICER 7036893035 2026-05-14 1 1 BREE-ANN WEIDNER P01319397 8046735700 2024 2025-03-06 01:10:19Z JOE BENEVENTO 2214 ROCK HILL ROAD 600 HERNDON VA 20170 33814047 0 X WWW.VIRGINIAIPC.ORG X 1984 VA VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP. 10 10 51 10 0 0 17267032 17184914 26074011 12713216 4006105 3896771 14285 19146 47361433 33814047 8044452 5319096 0 0 8184926 8329638 0 0 0 23154617 17000562 39383995 30649296 7977438 3164751 79950256 92536838 4497266 13817310 75452990 78719528 X VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP. 0 0 13404628 9276815 VIRGINIA VENTURE PARTNERS (VVP) FOCUSES ON DIRECT INVESTMENT, PLACING EQUITY INVESTMENTS IN EARLY-STAGE SCIENCE AND TECHNOLOGY-BASED COMPANIES THROUGH A FAMILY OF FUNDS SPANNING MULTIPLE GENERATIONS OF TECH, LIFE SCIENCE, AND CLEAN ENERGY THESES. SINCE THE PROGRAM'S INCEPTION IN 2005, THE VVP PROGRAM HAS INVESTED $71M IN 330 SEED AND EARLY STAGE TECHNOLOGY, LIFE SCIENCE, AND ENERGY COMPANIES ACROSS THE COMMONWEALTH. VVP INVESTMENTS HAVE ATTRACTED IN $2.6B IN PRIVATE CAPITAL. PROGRAM SERVICE REVENUE CONSISTS OF PROCEEDS ON LIQUIDATED INVESTMENTS. ADDITIONALLY, FUNDING FROM THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) PROGRAM, UNDER THE U.S. DEPARTMENT OF THE TREASURY, WAS PROVIDED TO ACCELERATE THE FORMATION AND GROWTH OF ENTREPRENEURIAL BUSINESSES ACROSS THE COMMONWEALTH OF VIRGINIA. APPROXIMATELY $173M OF SSBCI FUNDING WILL BE ALLOCATION TO VIPC OVER 10 YEARS, VIPC RECEIVED $36.2M IN FUNDS IN FY2024 AND FY2025 (THE FIRST TWO YEARS OF THE PROGRAM FOR VIPC). 4405562 3946096 THE COMMONWEALTH COMMERCIALIZATION FUND (CCF) DRIVES ECONOMIC GROWTH BY PROVIDING PRIVATE SECTOR AND HIGHER EDUCATION AND EMINENT RESEARCHER RECRUITMENT AND RETENTION GRANT FUNDING FOR INNOVATIVE TECHNOLOGY RESEARCH, DEVELOPMENT, AND COMMERCIALIZATION IN VIRGINIA. IN TOTAL, MORE THAN $64M HAS BEEN AWARDED TO 716 PROJECTS. SINCE THE PROGRAM'S INCEPTION, AWARDEES HAVE REPORTED MORE THAN $1.9B IN FOLLOW-ON FUNDING AND MORE THAN $227M IN GENERATED REVENUE. 2684163 2039477 UNDER VIPC'S CONTRACT WITH THE US DEPARTMENT OF HOMELAND SECURITY SCIENCE AND TECHNOLOGY DIRECTORATE IS THE COMMERCIAL FIRST INNOVATION PROGRAM. KEY PRIORITIES INCLUDE COUNTER-UNMANNED SYSTEMS MITIGATION, DETECTION OF ENVIRONMENTAL THREATS, AND OTHER PUBLIC SAFETY-RELATED TECHNOLOGIES. STRATEGIC INITIATIVE EFFORTS HAS STRATEGICALLY POSITIONED THE COMMONWEALTH OF VIRGINIA TO ASSUME A NATIONAL LEADERSHIP ROLE IN AEROSPACE & DEFENSE (A&D), PUBLIC SAFETY, AND PUBLIC PRIVATE SECTOR DATA GOVERNANCE AND RISK MITIGATION AS NEW OPPORTUNITIES AND CHALLENGES EVOLVE. OTHER PROGRAM INITIATIVES INCLUDE: SMART COMMUNITIES, PARTNERSHIPS WITH OTHER COMMONWEALTH AGENCIES, AND THE PUBLIC SAFETY INNOVATION CENTER. 3493699 1373000 1396924 DESCRIPTION: OTHER PROGRAM SERVICES1. ENTREPRENEURIAL ECOSYSTEMS2. UNMANNED SYSTEMS3. 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GRANTEES ARE REQUIRED TO SUBMIT PROGRESS REPORTS AT THE HALFWAY POINT OF THEIR PROJECT (WHICH INCLUDES A REVIEW OF ACTUAL VS. BUDGETED SPEND), AND ARE ALSO REQUIRED TO SUBMIT FINAL REPORTS FOLLOWING THE CONCLUSION OF THEIR GRANT-FUNDED PROJECT (WHICH INCLUDES A BREAKDOWN OF ACTUAL EXPENDITURES VS. BUDGETED EXPENDITURES). GRANTEES ARE REQUIRED TO CONSULT WITH THE ORGANIZATION IF AND WHEN CHANGES TO THE FUNDED PROJECT (INCLUDING CHANGES TO THE PROJECT BUDGET) ARE INDENTIFIED OR EXPECTED. X X X X X X 1 0 0 0 0 0 0 1 0 TOM WEITHMAN CIO & VP 308706 0 0 0 2010 0 37045 0 33636 0 381397 0 0 0 JOE BENEVENTO PRESIDENT & CEO 223315 0 105195 0 543 0 26798 0 22436 0 378287 0 0 0 DAVE IHRIE CHIEF TECH OFFICER 275850 0 0 0 3313 0 33102 0 23040 0 335305 0 0 0 MARCO RUBIN SENIOR DIRECTOR, INVESTMENT 219521 0 0 0 2010 0 26343 0 23040 0 270914 0 0 0 BOB STOLLE FORMER PRESIDENT & CEO 0 0 0 0 257703 0 0 0 0 0 257703 0 0 0 CONAWAY HASKINS VP, ENTREPRENUERIAL 189788 0 0 0 1120 0 22775 0 33636 0 247319 0 0 0 ANGELA COSTELLO VP, MARKETING 189788 0 0 0 1518 0 22775 0 23040 0 237121 0 0 0 ALEX EULER SENIOR DIRECTOR, INVESTMENT 189629 0 0 0 1091 0 22755 0 23040 0 236515 0 0 0 JEN O'DANIEL SENIOR DIRECTOR, INVESTMENT 189577 0 0 0 814 0 22749 0 12456 0 225596 0 0 0 SEAN MALLON VP, COMMERCIALIZATION THRU 09/15/24 159758 0 0 0 21198 0 19171 0 25218 0 225345 0 0 0 KRISTAL PARKER CHRO 164389 0 0 0 2010 0 19727 0 23040 0 209166 0 0 0 LESLIE WILLIAMS CHIEF ADMINISTRATIVE OFFICER 165844 0 0 0 1091 0 19901 0 12456 0 199292 0 0 0 PART I, LINE 4A PER THE TERMS OF HIS EMPLOYMENT CONTRACT, FORMER PRESIDENT & CEO RECEIVED SEVERANCE PAYMENTS OF $225K IN 2025. PART I, LINE 7 THE PRESIDENT & CEO RECEIVED A BOARD APPROVED PERFORMANCE BONUS PER TERMS OF HIS EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS PREPARED BY EXTERNAL TAX PROFESSIONALS, IN CONSULTATION WITH THE CONTROLLER AND INDEPENDENT AUDITOR, REVIEWED BY MANAGEMENT, AND SHARED WITH THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, 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 OF MORE THAN A NOMINAL VALUE. 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, PART VI, SECTION B, LINE 15A PRESIDENT & CEO COMPENSATION IS DETERMINED, REVIEWED, AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, 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, LINE 13: PROGRAM RELATED INVESTMENTS ARE COMPRISED OF VIRGINIA VENTURE PARTNERS EQUITY POSITIONS IN 118 COMPANIES. VIPC HAS NOT RECORDED THE VALUE OF THESE EQUITY SECURITIES ON THE BALANCE SHEET, 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. IF AND WHEN THEY ARE TRADED ON AN OPEN MARKET, VIPC RECORDS THEM AS ASSETS ON THE BALANCE SHEET. FORM 990, PART XI, LINE 9: RETURNED GRANT FUNDS FROM PRIOR YEARS 101,787. VIRGINIA INNOVATION PARTNERSHIP AUTHORITY 2214 ROCK HILL RD STE 600 HERNDON VA 20170 541491096 ACCEL TECH VA 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0