2024-05-15T15:26:22-05:00 2023-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2022-07-01 274910429 VIRGINIA TECH INNOVATIONS CORPORATION VIRG 5402315751 902 PRICES FORK ROAD 4000 BLACKSBURG VA 24061 AMY SEBRING CHAIRMAN 5402312977 2024-05-15 1 AMY SEBRING 999009999 0 JEFFREY G BARBOUR P01331383 5403450936 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z AMY SEBRING 902 PRICES FORK ROAD 4000 BLACKSBURG VA 24061 754122 0 X N/A X 2011 VA TO SUPPORT INNOVATIVE APPLICATIONS OF SCIENCE AND TECHNOLOGY AND PROVIDE TECHNICAL ASSISTANCE TO ENHANCE GLOBAL COMPETITIVENESS. 6 1 0 0 0 0 594698 222542 150469 425096 0 6484 0 100000 745167 754122 0 222542 0 0 631018 23039 0 0 0 105849 441819 736867 687400 8300 66722 281572 505681 277134 434521 4438 71160 X TO SUPPORT INNOVATIVE APPLICATIONS OF SCIENCE AND TECHNOLOGY AND PROVIDE TECHNICAL ASSISTANCE TO ENHANCE GLOBAL COMPETITIVENESS. 0 0 239474 222542 525096 AET GLOBAL - ARICULTURE EDUCATION TRAINING - THE CATALYZING AFGHAN AGRICULTURAL INNOVATION (CAAI) PROJECT IS A FIVE YEAR COOPERATIVE AGREEMENT AWARDED BY THE UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID) ON MAY 28TH, 2018 TO PROVIDE ASSISTANCE AND SUPPORT AGRICULTURAL EDUCATION ACTIVITIES WORKING WITH TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING AUTHORITY (TVET-A), MINISTRY OF HIGHER EDUCATION (MOHE), AND MINISTRY OF AGRICULTURE, IRRIGATION, AND LIVESTOCK (MAIL) IN FIVE PROVINCIAL AGRICULTURE UNIVERSITIES, AGRICULTURE AND VETERINARY INSTITUTES, AND AGRICULTURE HIGH SCHOOLS. DURING 2021, THESE AFGHANISTAN OPERATIONS BEGAN TO WIND DOWN. FOR 2023 AND 2022, OPERATIONS WERE MINIMAL AND ONLY RESIDUAL BALANCES ARE HELD BY THE REMAINING LEGAL ENTITY. DURING 2022, AET GLOBAL BEGAN SIMILAR OPERATIONS IN BANGLADESH. DURING 2023, VIRGINIA TECH RESEARCH CONTRACTING SERVICES, LLC (VTRCS) BEGAN OPERATIONS. THE ENTITY WAS ESTABLISHED AS A WAY FOR VTIC, AN ENTITY OF THE STATE, TO ENTER INTO CERTAIN RESEARCH PROJECTS. 239474 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 AF 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 ELIZABETH MCCLANAHAN 5402315751 902 PRICES FORK ROAD STE 4000 BLACKSBURG VA 24061 AMY SEBRING CHAIR 2.00 38.00 X X 0 164717 13860 JUSTICE ELIZABETH A MCCLANAHAN SECRETARY-TREASURER 2.00 0.00 X X 0 0 0 DR CYRIL R CLARKE BOARD MEMBER 2.00 38.00 X 0 533417 123636 DR DAN SUI BOARD MEMBER 2.00 38.00 X X 0 448201 57683 DR GURUPRASAD GHOSH BOARD MEMBER 2.00 38.00 X 0 331065 77011 SCOTT MIDKIFF BOARD MEMBER 2.00 38.00 X 0 364728 68695 KEN MILLER BOARD MEMBER 2.00 38.00 X 0 356245 67650 DON HEMPSON PRESIDENT AET GLOBAL 2.00 38.00 X 0 191063 29879 0 2389436 438414 0 0 1 0 0 222542 222542 SERVICES 900099 425096 425096 425096 6484 6484 IN KIND CONTRIBUTION 900099 100000 100000 100000 754122 525096 0 6484 222542 222542 23039 23039 492 492 12550 12550 808 808 2630 2630 MANAGEMENT SERVICES EXP 407643 407643 FOREIGN CURRENCY LOSS 10523 10523 CONTRACT SERVICES 6409 6409 BANK FEES 714 714 50 50 687400 239474 447926 0 121610 148234 134693 143253 2041 25269 212153 281572 505681 72856 92194 204278 342327 277134 434521 X 0 0 0 0 4438 71160 4438 71160 281572 505681 66722 0 X X 0 1 X 1 0 X 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 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 ADVANCES 55349 DUE FROM PMU 67327 INVESTMENT IN SUBSIDIARY 89477 212153 LOANS PAYABLE 342327 342327 1 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 5 15 PROGRAM SERVICES AGRICULTURAL EDUCATION 451581 5 15 0 0 5 15 451581 0 451581 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENT IN SUBSIDIARY 100000 0 1 0 1 0 0 0 PART III ACCOUNTING METHOD: 1 VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY 300 TURNER STREET NW SUITE 4200 BLACKSBURG VA 24061 222542 0 PROJECT GRANTS 1 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 BOARD MEMBER 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 DR GURUPRASAD GHOSH BOARD MEMBER 0 328363 0 1000 0 1702 0 46024 0 30987 0 408076 0 0 DON HEMPSON PRESIDENT AET GLOBAL 0 189147 0 1000 0 916 0 16208 0 13671 0 220942 0 0 AMY SEBRING CHAIR 0 78252 0 86000 0 465 0 7350 0 6510 0 178577 0 0 FORM 990, PART VI, SECTION B, LINE 11B 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 VTIC HAS HAD AN ESTABLISHED CONFLICT OF INTEREST POLICY SINCE IT WAS INCORPORATED. THE POLICY APPLIES TO EACH MEMBER OF THE BOARD OF DIRECTORS, ALL PRINCIPAL OFFICERS, AND KEY EMPLOYEES. 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 VTIC'S INTERESTS WHEN IT IS CONTEMPLATING ENTERING INTO BUSINESS TRANSACTIONS THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN INTERESTED PERSON OF VTIC. FORM 990, PART VI, SECTION B, LINE 15A THE FOLLOWING DESCRIBES THE PROCESS FOR DETERMINING, REVIEWING AND APPROVING COMPENSATION OF THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES. THE 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 VTIC PROVIDES FOR PUBLIC DISCLOSURE ALL DOCUMENTS REQUIRED BY LAW TO BE AVAILABLE FOR INSPECTION BY THE PUBLIC. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. AET GLOBAL LLC 902 PRICES FORK RD BLACKSBURG VA 24061 AGRICULTURAL EDUCATION VA VT IT LLC 902 PRICES FORK RD BLACKSBURG VA 24061 INFORMATION TECHNOLOGY VA VT RESEARCH CONTRACTING SERVICES LLC 902 PRICES FORK RD BLACKSBURG VA 24061 RESEARCH CONTRACTING VA VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY VIRGINIA TECH CAMPUS BLACKSBURG VA 24061 546001805 HIGHER EDUCATION VA 115 N/A 0 VT SWISS SA VIA SETTALA 8 RIVA SAN VITALE SZ 6826 ADMINISTRATION SZ 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0