2024-05-15T09:32:46-05:00 2023-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2022-07-01 371737161 VIRGINIA TECH TRANSPORTATION ECONOMIC DEVELOPMENT INC VIRG 5402315751 902 PRICES FORK ROAD SUITE 4000 BLACKSBURG VA 24061 DR DANIEL SUI PRESIDENT 5402319007 2024-05-15 1 DR DANIEL SUI 999009999 0 JEFFREY G BARBOUR P01331383 5403450936 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR DANIEL SUI 902 PRICES FORK ROAD SUITE 4000 BLACKSBURG VA 24061 4887749 0 X WWW.VTTI.VT.EDU/NATIONAL/INDEX.HTML X 2012 VA ECONOMIC DEVELOPMENT IN THE RURAL REGION OF SOUTHERN VIRGINIA. 6 1 44 0 0 0 669950 0 5488603 4829484 0 -379630 111737 58265 6270290 4508119 0 0 0 0 3895782 3777972 0 0 0 2114494 2083343 6010276 5861315 260014 -1353196 11029540 9504390 8550187 8236139 2479353 1268251 X 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. 0 0 5587695 4508119 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.VTTEDI CONTRIBUTES TO THE ECONOMIC DEVELOPMENT OF VIRGINIA SOUTHSIDE THROUGH CAREER OPPORTUNITIES FOR OVER 40 EMPLOYEES, SUPPORTING LOCAL BUSINESSES, AND ENGAGING LOCAL EDUCATIONAL AND NONPROFIT INSTITUTIONS. VTTEDI HAS CREATED INTERNSHIPS FOR DANVILLE COMMUNITY COLLEGE STUDENTS AND VIRGINIA TECH ENGINEERING STUDENTS. IN ADDITION, VTTEDI DEVELOPED CURRICULUM WITH PATRICK HENRY COMMUNITY COLLEGE RACING AND SUPPORTS THEIR ACTIVITIES WITH TOOLS, TESTING AND TRACK ASSISTANCE. VTTEDI ALSO SUPPORTS THE ACADEMY OF ENGINEERING TECHNOLOGY WHICH FOCUSES ON SOUTHSIDE HIGH SCHOOL STUDENTS. VTTEDI PROVIDES DEVELOPMENT AND DELIVERY OF SPECIALIZED RESEARCH, TIRE TESTING AND MODELING SERVICES TO GLOBAL CUSTOMERS AND SPONSORS. VTTEDI HAS BUILT HIGHLY SPECIALIZED FACILITES 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. 5587695 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 13 0 1 44 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X CHRISTINE ABSHER 5402319007 902 PRICES FORK RD BLACKSBURG VA 24061 DR DAN SUI PRESIDENT 2.00 38.00 X X 0 448201 57683 AMY SEBRING BOARD MEMBER 2.00 38.00 X 0 164717 13860 SCOTT MIDKIFF BOARD MEMBER 2.00 38.00 X 0 364728 68695 KEN MILLER BOARD MEMBER 2.00 38.00 X 0 356245 67650 DR CYRIL R CLARKE BOARD MEMBER 2.00 38.00 X 0 533417 123636 JUSTICE ELIZABETH MCCLANAHAN BOARD MEMBER 2.00 38.00 X 0 0 0 CHRISTINE ABSHER ASSISTANT TREASURER (VTT) 10.00 30.00 X 0 124348 44634 ZACHARY DOERZAPH PRESIDENT (VTT) 40.00 X 0 315672 63532 0 2307328 439690 0 0 1 0 0 TESTING, MODELING, RESEARCH 900099 4829484 4829484 4829484 379630 -379630 -379630 -379630 OTHER REVENUE 900099 58265 58265 58265 4508119 4508119 0 0 2949323 2816460 132863 306674 292071 14603 332210 288878 43332 189765 172514 17251 4080 3547 533 64201 55827 8374 4218 4218 17786 17786 67109 57043 10066 231027 210025 21002 52952 52952 20656 20656 242179 242179 813401 813401 145649 123802 21847 MATERIALS AND EQUIPMENT 245096 245096 TEMPORARY HELP 55190 55190 CUSTOMER RECRUITEMENT 48068 48068 COST OF GOODS SOLD 42991 42991 28740 24991 3749 5861315 5587695 273620 0 501138 183891 1155364 891148 123685 107619 15592236 7270504 9249353 8321732 11029540 9504390 346890 383977 479852 119511 7723445 7732651 8550187 8236139 X 2479353 1268251 2479353 1268251 11029540 9504390 -1353196 142095 0 X X 0 1 X 1 0 X X 1 VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY 546001805 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART 1, LINE 12G, COLUMN (VI) THE EXPENSES BY VIRGINIA TECH INTELLECTUAL PROPERTIES, 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). 2776284 323033 2453251 915150 886963 28187 11897652 6057658 5839994 3150 2850 300 8321732 DUE TO VTF 900000 DUE TO VT 3824403 DUE TO VT, ACCRUED INTEREST 554998 CONTRACT LIABILITY 2453250 7732651 X PART X, LINE 2: 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. X 1 1 X 0 0 0 0 0 0 0 0 0 DR CYRIL R CLARKE BOARD MEMBER 0 524443 0 1000 0 7974 0 94956 0 28680 0 657053 0 0 DR DAN SUI PRESIDENT 0 442734 0 1000 0 4467 0 37786 0 19897 0 505884 0 0 SCOTT MIDKIFF BOARD MEMBER 0 353614 0 1000 0 10114 0 37166 0 31529 0 433423 0 0 KEN MILLER BOARD MEMBER 0 345430 0 1000 0 9815 0 50133 0 17517 0 423895 0 0 ZACHARY DOERZAPH PRESIDENT (VTT) 0 313972 0 1000 0 700 0 32979 0 30553 0 379204 0 0 AMY SEBRING BOARD MEMBER 0 78252 0 86000 0 465 0 7350 0 6510 0 178577 0 0 CHRISTINE ABSHER ASSISTANT TREASURER (VTT) 0 122771 0 1000 0 577 0 18670 0 25964 0 168982 0 0 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. 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 PRESIDENT FOR REVIEW. 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 PRESIDENT 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. PART XII, LINE 2C THERE WAS NO CHANGE TO THE COMPANY'S OVERSIGHT PROCESS IN THE CURRENT YEAR. VTT LLC 902 PRICES FORK RD STE 4000 BLACKSBURG VA 24061 RESEARCH VA N/A VIRGINIA POLYTECHNIC INST & STATE UNIV 201 SOUTHGATE CENTER BLACKSBURG VA 24061 545001805 UNIVERSITY VA 501(C)(12) N/A 0 0 0 0 0 1 0 0 0 0 0 0 1 1 0 1 1 1 0 1