2025-05-15T15:33:47-05:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 200 SOUTH 10TH ST STE 900 RICHMOND VA 23219 990 2023-07-01 541282820 VIRGINIA INNOVATION PARTNERSHIP CORPORATION VIRG 7036893035 2214 ROCK HILL ROAD 600 HERNDON VA 20170 LESLIE WILLIAMS CHIEF ADMINISTRATIVE OFFICER 7036893035 2025-05-15 1 1 BREE-ANN WEIDNER P01319397 8046735700 2023 2025-03-06 01:10:19Z JOE BENEVENTO 2214 ROCK HILL ROAD 600 HERNDON VA 20170 47361433 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 45 10 0 0 17232371 17267032 14820183 26074011 2705381 4006105 35688 14285 34793623 47361433 8979239 8044452 0 0 7710789 8184926 0 0 0 21336054 23154617 38026082 39383995 -3232459 7977438 85819315 79950256 15911707 4497266 69907608 75452990 X VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP. 0 0 9266331 11197847 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 $62.6M IN 323 SEED AND EARLY STAGE TECHNOLOGY, LIFE SCIENCE, AND ENERGY COMPANIES ACROSS THE COMMONWEALTH. VVP INVESTMENTS HAVE ATTRACTED IN $2.2B 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 $18.2M IN FUNDS IN FY2024. 8103190 7144452 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. 5286840 5766122 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. 10444414 900000 9110042 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 0 0 0 0 0 0 0 0 0 TOM WEITMAN CIO & VP 303765 0 0 0 2010 0 36452 0 33600 0 375827 0 0 0 BOB STOLLE PRESIDENT & CEO THRU 11/2023 275000 0 0 0 3037 0 33000 0 21098 0 332135 0 0 0 DAVE IHRIE CHIEF TECH OFFICER 271435 0 0 0 3313 0 32572 0 23016 0 330336 0 0 0 SUSAN AITCHESON CFO TO 2/2024 268090 0 0 0 2010 0 32171 0 12444 0 314715 0 0 0 SEAN MALLON VP COMMERCIALIZATION 222855 0 0 0 1518 0 26743 0 23022 0 274138 0 0 0 MARCO RUBIN DIR INVESTMENT SVCS 216008 0 0 0 2010 0 25921 0 23016 0 266955 0 0 0 ANGELA COSTELLO VP MARKETING 186750 0 0 0 1518 0 22410 0 33600 0 244278 0 0 0 CONAWAY HASKINS VP ENTREPRENUERIAL 186750 0 0 0 920 0 22410 0 33600 0 243680 0 0 0 ALEX EULER DIR INVESTMENT SVCS 185357 0 0 0 920 0 22243 0 23016 0 231536 0 0 0 JEN O'DANIEL DIR INVESTMENT SVCS 186543 0 1000 0 814 0 22385 0 12444 0 223186 0 0 0 PART I, LINE 3 SPECIFIC TO THE PRESIDENT AND CEO, AN EXECUTIVE SEARCH FIRM CONDUCTED A NATIONWIDE SEARCH. HIGHLY RATED CANDIDATES WERE INTERVIEWED BY INTERNAL AND EXTERNAL STAKEHOLDERS. UPON FINAL CANDIDATE SELECTION, A MARKET RATE ASSESSMENT OF COMPENSATION WAS BASELINED AGAINST COMPARABLES. COMPENSATION WAS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. 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 THE CAO, 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. IN ADDITION, THE PRESIDENT AND CEO IS REQUIRED TO NOTIFY THE CHAIRMAN OF THE BOARD OF DIRECTORS, IN WRITING, OF ALL AFFILIATIONS WITH ANY INDIVIDUAL OR ORGANIZATION THAT SOLICITS VIPC SERVICES. 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 THE COMPENSATION OF THE PRESIDENT AND CEO IS SET BY THE BOARD OF DIRECTORS. SEE SCHEDULE J, LINE 3 FOR MORE INFORMATION. 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 139,094. 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