Virginia Innovation Partnership Corporation
84% goes to programs $0 to raise $100 Strong reserves Declining revenue
Virginia Innovation Partnership Corporation is a 501(c)(3) organization based in Herndon, Virginia, registered in 1984, with $47,361,433 in FY2023 revenue. CharityIndex grades it A, and it directs about 84% of spending to programs.
2214 Rock Hill Rd Ste 600, Herndon, VA, 20170 EIN 54-1282820 Since 1984
Revenue (FY2023)
$47.4M
▲ 36.1% vs prior year
Science & Tech median: $288K
Expenses (FY2023)
$39.4M
Net assets
$75.5M
Employees
45
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating84% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Virginia Innovation Partnership Corporation: 84% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating23 mo reserves · +17% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Virginia Innovation Partnership Corporation: 23 mo reserves · +17% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Virginia Innovation Partnership Corporation: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Virginia Innovation Partnership Corporation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Vipc grows and diversifies virginia's economy by investing in and accelerating innovation commercialization and entrepreneurship.
What they do
The commonwealth commercialization fund (ccf) drives economic growth by providing private sector and higher education grant funding for innovative technology research, development, and commercialization in virginia. in total, more than $60m has been awarded to 670 projects. since the program's inception, awardees have reported more than $1.8b in follow-on funding and more than $227m in generated revenue.
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.
Description: other program services1. entrepreneurial ecosystems2. unmanned systems3. federal funding assistance program
Contact & location
- Address
- 2214 Rock Hill Rd Ste 600, Herndon, VA, 20170
- City
- Herndon
- State
- Virginia
- Category
- Science & Technology
- Subcategory
- Engineering & Technology
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $17.0M (FY2013) to $47.4M (FY2023) across 5 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $4.5MNet assets $75.5M
Operating margin
16.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$80.0M
Total liabilities
$4.5M
Net assets
$75.5M
Salaries & benefits
$8.2M
21% of expenses
Board members
10
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $47,361,433▲36.1% | $39,383,995▲3.6% | $75,452,990▲7.9% | $79,950,256▼6.8% | 990 |
| 2022 | $34,793,623▲52.6% | $38,026,082▲46.4% | $69,907,608▼4.4% | $85,819,315▲13.9% | 990 |
| 2021 | $22,793,161▼70.0% | $25,978,938▲20.0% | $73,140,067▼4.2% | $75,363,860▼5.9% | 990 |
| 2020 | $76,061,606▲347% | $21,650,254▲33.3% | $76,325,844▲944% | $80,085,835▲846% | 990 |
| 2013 | $17,009,146 | $16,245,346▲28.8% | $7,307,543▲11.7% | $8,466,387▲8.4% | 990 |
| 2012 | — | $12,608,230▲9.1% | $6,543,743▲15.7% | $7,810,162▲16.9% | 990 |
| 2011 | — | $11,558,319▲62.1% | $5,657,505▲96.3% | $6,678,265▲102% | 990 |
| 2009 | — | $7,129,202 | $2,882,320 | $3,299,543 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Tom Weitman — $305,775 (0.78% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Tom Weitman | Cio & Vp | 40 | $305,775 |
| Bob Stolle | President & Ceo Thru 11/2023 | 40 | $278,037 |
| Dave Ihrie | Chief Tech Officer | 40 | $274,748 |
| Susan Aitcheson | Cfo To 2/2024 | 40 | $270,100 |
| Sean Mallon | Vp Commercialization | 40 | $224,373 |
| Marco Rubin | Dir Investment Svcs | 40 | $218,018 |
| Jen O'daniel | Dir Investment Svcs | 40 | $188,357 |
| Angela Costello | Vp Marketing | 40 | $188,268 |
| Conaway Haskins | Vp Entreprenuerial | 40 | $187,670 |
| Alex Euler | Dir Investment Svcs | 40 | $186,277 |
| Barbara Boyan | Chair Thru 12/2023 , Director | 2 | — |
| Chris Long | Director | 1 | — |
| Joe Benvento | President & Ceo From 4/2024 | 40 | — |
| Kelley Powell Williamson | Director From 8/2023 | 1 | — |
| Lindsay Winter | Director From 8/2023 | 1 | — |
| Monique Adams | Director | 2 | — |
| Richard Hall | Director | 1 | — |
| Rita Roy | Chair | 2 | — |
| Rob Quartel | Director | 1 | — |
| Shashikant Gupta | Director From 5/2024 | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Smart City Works Venture Labs LLC | Contractor Services | $1,622,087 |
| Accessvr LLC | Contractor Services | $1,352,570 |
| Technexus LLC | Contractor Services | $492,739 |
| Ata LLC | Contractor Services | $318,126 |
| Nexus Technology Services LLC | Contractor Services | $247,500 |
Grants received · $40K total
2 grants to Virginia Innovation Partnership Corporation totaling $40K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Virginia Innovation Partnership Corporation | Research | 2023 | $20,000 |
| Virginia Innovation Partnership Corporation | Research | 2023 | $20,000 |
Grants made · $8.0M in FY2023
95 grants totaling $8.0M in FY2023 — showing the 15 largest. All grants made by Virginia Innovation Partnership Corporation →
| Recipient | Purpose | Amount |
|---|---|---|
| The Rector and Visitors of Uva | Research | $1,769,868 |
| Virginia Commonwealth University | Research | $954,918 |
| University of Virginia Licensing & Ventures Group | Research | $250,000 |
| Va Polytechnic Institute & State University | Research | $230,000 |
| Hanover County Clean Technology Innovation Center | Research | $200,000 |
| Roanoke-blacksburg Innovation Network | Research | $200,000 |
| George Mason University | Research | $194,954 |
| Startup Virginia | Research | $150,000 |
| Genlogs Corporation | Research | $120,000 |
| Nsmart Inc | Research | $120,000 |
| James Madison University | Research | $111,603 |
| Knonap LLC | Research | $100,000 |
| Charlottesville Biohub | Research | $100,000 |
| Coeurative Inc | Research | $100,000 |
| Seedmetrics LLC | Research | $100,000 |
Similar organizations in Science & Tech
Science & Tech
American Society of Civil Engineers
Reston, VA
$53.0M
Aannual revenue
Science & Tech
Noblereach Foundation
Tysons, VA
$30.3M
C+annual revenue
Science & Tech
Commonwealth Center For Advanced Manufacturing
Disputanta, VA
$23.3M
Bannual revenue
Science & Tech
National Society of Black Engineers
Alexandria, VA
$22.7M
Bannual revenue
Science & Tech
Us Civilian Research and Development Foundation
Arlington, VA
$73.6M
Bannual revenue
Science & Tech
Virginia Tech Applied Research Corporation
Arlington, VA
$21.1M
Bannual revenue
Science & Tech
American Association of Physicists In Medicine
Alexandria, VA
$12.0M
Bannual revenue
Science & Tech
Virginia Health Information
Richmond, VA
$11.6M
Bannual revenue
Science & Tech
National Institute of Aerospace Associates
Hampton, VA
$10.8M
Bannual revenue
- Science & Tech
Analysis and Resilience Center For Systemic Risk Inc
Arlington, VA
$10.7M
Bannual revenue
Compare Virginia Innovation Partnership Corporation
Frequently asked questions
- Is Virginia Innovation Partnership Corporation a legitimate nonprofit?
- Yes. Virginia Innovation Partnership Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 54-1282820, based in Herndon, Virginia. Donations are tax-deductible.
- What is Virginia Innovation Partnership Corporation's EIN?
- Virginia Innovation Partnership Corporation's Employer Identification Number (EIN) is 54-1282820.
- How much revenue does Virginia Innovation Partnership Corporation report?
- Virginia Innovation Partnership Corporation reported $47,361,433 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Virginia Innovation Partnership Corporation's spending goes to programs?
- Virginia Innovation Partnership Corporation spends about 84% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Virginia Innovation Partnership Corporation have?
- CharityIndex grades Virginia Innovation Partnership Corporation A, based on program efficiency and fundraising cost.
- How much does Virginia Innovation Partnership Corporation's highest-paid employee make?
- The highest reported compensation on Virginia Innovation Partnership Corporation's latest Form 990 is $305,775, paid to Tom Weitman (Cio & Vp).
More nonprofits in Herndon
Explore more
Data for Virginia Innovation Partnership Corporation (EIN 54-1282820) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.