2024-04-09T10:55:04-04:00 2023-12-31 541896113 ROBINSON FARMER COX ASSOCIATES 108 SOUTHPARK DRIVE BLACKSBURG VA 24060 990 2023-01-01 462975294 THE ROANOKE-BLACKSBURG INNOVATION NETWORK ROAN 5404439216 2200 KRAFT DRIVE SUITE 1350 BLACKSBURG VA 24060 ERIN BURCHAM VERGE PRESIDENT 5404439216 2024-04-01 true ERIN BURCHAM 999009999 false EMILY VIERS P02361155 5405527322 2024-04-09 2023 2023-04-26 12:10:37Z VALLEYS INNOVATION COUNCIL VERGE ERIN BURCHAM 2200 KRAFT DRIVE SUITE 1350 BLACKSBURG VA 24060 3656989 false X VALLEYSINNOVATION.ORG; VERGEVA.ORG X 2013 VA THE ORGANIZATION SUPPORTS THE REGION BY CONNECTING, COMMUNICATING, AND COLLABORATING WITH STAKEHOLDERS TO GROW AND STRENGTHEN OUR INNOVATION ECONOMY. 38 37 8 74 0 698775 3656989 0 0 0 698775 3656989 0 0 536610 682317 0 0 448274 854381 984884 1536698 -286109 2120291 250605 2417096 42499 42247 208106 2374849 X THE ORGANIZATION SUPPORTS THE REGION BY CONNECTING, COMMUNICATING, AND COLLABORATING WITH STAKEHOLDERS TO GROW AND STRENGTHEN OUR INNOVATION ECONCOMY. true false 593791 BIOTECH PROJECT - THIS MULTI-YEAR PROJECT INCLUDES FUNDING FROM THE COMMONWEALTH OF VIRGINIA, AS WELL AS ARPA AND NON-ARPA FUNDS FROM THE CITY OF ROANOKE, WITH NUMEROUS PROJECT PARTNERS TO BUILD A BIOTECHNOLOGY INCUBATOR IN ROANOKE. VERGE WILL LAUNCH AN INNOVATION STUDIO AND NEW PROGRAMMING TO SUPPORT THE REGION'S EARLY-STAGE BIOTECH AND DIGITAL HEALTH START-UPS. THE GRANT REPORTING PERIOD BEGAN WHEN THE GRANT WAS APPROVED ON JULY 1, 2022 WITH ARPA FUNDS NEEDING TO BE FULLY DEPLETED BY DECEMBER 2024 AND STATE AND NON-ARPA FUNDS NEEDING TO BE DEPLETED BY JUNE 2025. THE FULL FUNDING AMOUNT OF 2.2M WAS DEPOSITED IN JULY 2023 AND WAS MOVED TO A MONEY MARKET ACCOUNT AT ATLANTIC UNION. FUNDS ARE DRAWN DOWN ON A MONTHLY BASIS BASED ON PROJECT EXPENDITURES. CARILION HAS PROVIDED MATCHING FUNDS IN THE TOTAL AMOUNT OF 900K AND WILL BE PAID OUT AT APPROXIMATELY 175,000 OVER 5 YEARS. 180246 RAMP (REGIONAL ACCELERATOR AND MENTORING PROGRAM) - OFFERS TWO COHORTS PER YEAR, WITH THEIR HEADQUARTERS LOCATED IN THE GILL MEMORIAL BUILDING, ROANOKE, VIRGINIA. ACCEPTED COHORT COMPANIES ARE ENGAGED IN A 12-WEEK PROGRAM THAT FOCUSES ON MENTORING, COACHING, NETWORKING, AND EDUCATIONAL EVENTS TO HELP GROW THEIR BUSINESS, ACCESS TO CAPITAL RESOURCES, FREE OFFICE SPACE WITH HIGH-SPEED INTERNET ACCESS, 20,000 IN EQUITY FEE FUNDING, AND ADDITIONAL ALUMNI SUPPORT POST ACCELERATION. 198339 EDA - IN OCTOBER 2020, RAMP RECIEVED A MAJOR ENDORSEMENT BY THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION, WHICH AWARDED A NEARLY 1 MILLION GRANT TO VALLEYS INNOVATION COUNCIL/VERGE, WHICH THE GRANT PROJECT CLOSED ON SEPTEMBER 30, 2023. THIS GRANT IS FOCUSED ON EXPANDING PROGRAMMING IN FOUR KEY AREAS: 1. STARTUP PATHWAYS TO RESPOND TO THE NEED FOR MORE FOCUS ON PRE-ACCELERATION COMPANIES BY PROVIDING MENTOR CONNECTIONS, SUPPORTING THE HEALTH SCIENCE & TECHNOLOGY COMMERCIALIZATION FELLOWSHIP WITH FRALIN BIOMEDICAL RESEARCH INSTITUTE, AND SUPPORTING TRANSLATIONAL RESEARCH FROM VIRGINIA TECH. 2. SCALING THE ACCELERATOR-IN-RESIDENCE PROGRAM BY PROVIDING SUPPORT FOR SIX IN-RESIDENCE COHORTS OVER THE THREE-YEAR PERIOD ADDING A PROGRAM COORDINATOR TO SUPPORT THE EXPANSION, INCREASING ACCESS TO DOMAIN EXPERT MENTORS, AND PROVIDING HYBRID IN-PERSON AND VIRTUAL COURSES. 3. EHNHANCED TO PROVIDE ALUMNI SUPPORT THROUGH ONGOING MENTORING, PITCHPLUS PROGRAMMING TO HELP CONNECTIONS TO REGIONAL INNOVATION ECOSYSTEM RESOURCES, AND RESEARCH CONNECTED WORKSPACE. 4. RESOURCE DEVELOPMENT AND RESEARCH THROUGH MENTOR DEVELOPMENT AND TRAINING, MAKING CONNECTIONS TO REGIONAL INNOVATION ECOSYSTEM RESOURCES, AND RESEARCH CONNECTED TO TRACKING THE GROWTH AND DEVELOPMENT OF THE REGIONAL INNOVATION ECONOMY. 110087 VARIOUS 110087 1082463 true true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 true 8 true false false false false false true true false false false false false false X 38 37 false false false false false false false true true false false true true false false false false false false false VA X ERIN BURCHAM 5404439216 2200 KRAFT DRIVE SUITE 1350 BLACKSBURG VA 24060 ERIN BURCHAM VERGE PRESID 40.00 X X 138890 0 0 EDDIE AMOS GENERAL DIRE 1.00 X 0 0 0 AMY ANKRUM OFFICER; CO- 4.00 X X 0 0 0 HENRY BASS GENERAL DIRE 1.00 X 0 0 0 KEVIN BLOOMFIELD EXECUTIVE ME 2.00 X 0 0 0 GRANT BREWER GENERAL DIRE 1.00 X 0 0 0 HARVEY BROOKINS GENERAL DIRE 1.00 X 0 0 0 DAVID CATALANO EXECUTIVE ME 2.00 X 0 0 0 KATHY CLAYTOR EXECUTIVE ME 2.00 X 0 0 0 NICK CONTE GENERAL DIRE 1.00 X 0 0 0 STEVE CRITCHFIELD GENERAL DIRE 1.00 X 0 0 0 ROB DAY GENERAL DIRE 1.00 X 0 0 0 KATHERIN ELAM GENERAL DIRE 1.00 X 0 0 0 RUSS ELLIS EXECUTIVE ME 2.00 X 0 0 0 WILLIAM FRALIN GENERAL DIRE 1.00 X 0 0 0 CHERYL GIGGETTS GENERAL DIRE 1.00 X 0 0 0 AILEEN HELSEL GENERAL DIRE 1.00 X 0 0 0 ED LAWHORN GENERAL DIRE 1.00 X 0 0 0 ELIZABETH MCCLANAHAN GENERAL DIRE 1.00 X 0 0 0 JEFF MERRITT EXECUTIVE ME 2.00 X 0 0 0 MARTY MUSCATELLO EXECUTIVE ME 2.00 X 0 0 0 JOHN NEWBY GENERAL DIRE 1.00 X 0 0 0 PATRICK PATTERSON EXECUTIVE ME 2.00 X 0 0 0 ANGELA JOYNER PHD EXECUTIVE ME 2.00 X 0 0 0 BRIAN SOLLER PHD GENERAL DIRE 1.00 X 0 0 0 JOHN CAPPS PHD GENERAL DIRE 1.00 X 0 0 0 JOHN RAINONE PHD GENERAL DIRE 1.00 X 0 0 0 MICHAEL FRIEDLANDER PHD GENERAL DIRE 1.00 X 0 0 0 PAT HUBER PHD GENERAL DIRE 1.00 X 0 0 0 ROBERT SANDEL PHD GENERAL DIRE 1.00 X 0 0 0 JAMES RAMEY GENERAL DIRE 1.00 X 0 0 0 ROB SANCHEZ GENERAL DIRE 1.00 X 0 0 0 JEFF SMITH OFFICER; CO 4.00 X X 0 0 0 ROBERT STOLLE GENERAL DIRE 1.00 X 0 0 0 DANIEL SUMMERLIN OFFICER: SEC 4.00 X X 0 0 0 MARJORIE TENZER EXECUTIVE ME 2.00 X 0 0 0 CLARK WORTHY GENERAL DIRE 1.00 X 0 0 0 JUSTIN YALUNG OFFICER; TRE 4.00 X X 0 0 0 138890 2 false false false 2994280 662709 3656989 3656989 244290 178737 65553 292189 213418 78771 99071 72487 26584 46767 34217 12550 22671 3457 19214 17500 17500 37177 26058 11119 25133 24741 392 22360 16808 5552 2549 2549 CONTRACTED SERVICES 340735 126143 214592 EVENTS 289840 274590 15250 GRANT SUBAWARDS 91807 91807 MICROGRANT AWARDS 2500 2500 2109 2109 1536698 1082463 454235 0 102132 2109984 128661 299544 19812 7568 250605 2417096 42499 42247 42499 42247 X 89415 399903 118691 1974946 208106 2374849 250605 2417096 X 2120291 201155 -154703 X false true X true false X 357960 362633 949408 698775 3656989 6025765 9593 9593 367553 362633 949408 698775 3656989 6035358 6035358 367553 362633 949408 698775 3656989 6035358 1.00000 1.00000 0.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3858144 201155 201155 3656989 3656989 1691401 154703 154703 1536698 1536698 FORM 990, PAGE 2, PART III, LINE 2 BIOTECH PROGRAM SERVICES FORM 990, PAGE 2, PART III, LINE 4A BIOTECH PROJECT - THIS MULTI-YEAR PROJECT INCLUDES FUNDING FROM THE COMMONWEALTH OF VIRGINIA, AS WELL AS ARPA AND NON-ARPA FUNDS FROM THE CITY OF ROANOKE, WITH NUMEROUS PROJECT PARTNERS TO BUILD A BIOTECHNOLOGY INCUBATOR IN ROANOKE. VERGE WILL LAUNCH AN INNOVATION STUDIO AND NEW PROGRAMMING TO SUPPORT THE REGION'S EARLY-STAGE BIOTECH AND DIGITAL HEALTH START-UPS. THE GRANT REPORTING PERIOD BEGAN WHEN THE GRANT WAS APPROVED ON JULY 1, 2022 WITH ARPA FUNDS NEEDING TO BE FULLY DEPLETED BY DECEMBER 2024 AND STATE AND NON-ARPA FUNDS NEEDING TO BE DEPLETED BY JUNE 2025. THE FULL FUNDING AMOUNT OF 2.2M WAS DEPOSITED IN JULY 2023 AND WAS MOVED TO A MONEY MARKET ACCOUNT AT ATLANTIC UNION. FUNDS ARE DRAWN DOWN ON A MONTHLY BASIS BASED ON PROJECT EXPENDITURES. CARILION HAS PROVIDED MATCHING FUNDS IN THE TOTAL AMOUNT OF 900K AND WILL BE PAID OUT AT APPROXIMATELY 175,000 OVER 5 YEARS. FORM 990, PAGE 2, PART III, LINE 4C EDA - IN OCTOBER 2020, RAMP RECIEVED A MAJOR ENDORSEMENT BY THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION, WHICH AWARDED A NEARLY 1 MILLION GRANT TO VALLEYS INNOVATION COUNCIL/VERGE, WHICH THE GRANT PROJECT CLOSED ON SEPTEMBER 30, 2023. THIS GRANT IS FOCUSED ON EXPANDING PROGRAMMING IN FOUR KEY AREAS: 1. STARTUP PATHWAYS TO RESPOND TO THE NEED FOR MORE FOCUS ON PRE-ACCELERATION COMPANIES BY PROVIDING MENTOR CONNECTIONS, SUPPORTING THE HEALTH SCIENCE & TECHNOLOGY COMMERCIALIZATION FELLOWSHIP WITH FRALIN BIOMEDICAL RESEARCH INSTITUTE, AND SUPPORTING TRANSLATIONAL RESEARCH FROM VIRGINIA TECH. 2. SCALING THE ACCELERATOR-IN-RESIDENCE PROGRAM BY PROVIDING SUPPORT FOR SIX IN-RESIDENCE COHORTS OVER THE THREE-YEAR PERIOD ADDING A PROGRAM COORDINATOR TO SUPPORT THE EXPANSION, INCREASING ACCESS TO DOMAIN EXPERT MENTORS, AND PROVIDING HYBRID IN-PERSON AND VIRTUAL COURSES. 3. EHNHANCED TO PROVIDE ALUMNI SUPPORT THROUGH ONGOING MENTORING, PITCHPLUS PROGRAMMING TO HELP CONNECTIONS TO REGIONAL INNOVATION ECOSYSTEM RESOURCES, AND RESEARCH CONNECTED WORKSPACE. 4. RESOURCE DEVELOPMENT AND RESEARCH THROUGH MENTOR DEVELOPMENT AND TRAINING, MAKING CONNECTIONS TO REGIONAL INNOVATION ECOSYSTEM RESOURCES, AND RESEARCH CONNECTED TO TRACKING THE GROWTH AND DEVELOPMENT OF THE REGIONAL INNOVATION ECONOMY. FORM 990, PAGE 2, PART III, LINE 4D VARIOUS FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE BOARD'S EXECUTIVE COMMITTEE AND KEY STAFF BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE AT THE ORGANIZATION'S LOCATION UPON REQUEST. FORM 990, PART XI, LINE 9 DONATED FACILITIES RECOGNIZED DURING YEAR -154,703