2024-05-09T13:52:29-05:00 2023-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2022-07-01 271585738 VIRGINIA TECH APPLIED RESEARCH CORPORATION VIRG 7038798142 900 N GLEBE ROAD 700 ARLINGTON VA 22203 DON MAFFEI VP, FINANCE & ADMIN 5404438577 2024-04-23 1 DON MAFFEI 999009999 0 JEFFREY G BARBOUR P01331383 5403450936 2024-04-23 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DON MAFFEI 900 N GLEBE ROAD 700 ARLINGTON VA 22203 20840201 0 X WWW.VT-ARC.ORG X 2009 VA VT-ARC PERFORMS APPLIED RESEARCH AND DEVELOPMENT, TECHNICAL SERVICES, AND COMMERCIALIZATION AS AN EXTENSION OF THE FUNDAMENTAL RESEARCH PERFORMED WITHIN VIRGINIA TECH. 13 7 86 0 0 0 6959586 12728908 11548833 7367195 -5718 2348 0 300000 18502701 20398451 0 0 0 0 7273946 10323372 0 0 0 10210307 8655895 17484253 18979267 1018448 1419184 5827376 10609175 3610438 6973053 2216938 3636122 THE MISSION OF VT-ARC IS TO EXTEND THE IMPACT OF THE VIRGINIA TECH RESEARCH AND INNOVATION ENTERPRISE, DELIVERING SUPERIOR ANALYTIC AND TECHNOLOGY SOLUTIONS TO GOVERNMENT AND NON-GOVERNMENT CUSTOMERS. 0 0 17483483 7365090 THE VIRGINIA TECH APPLIED RESEARCH CORPORATION (VT-ARC) EXTENDS THE IMPACT OF VIRGINIA TECH'S BASIC AND SCHOLARLY RESEARCH ENTERPRISE BY IDENTIFYING AND SOLVING COMPLEX PROBLEMS COMMONLY ASSOCIATED WITH APPLIED RESEARCH AND DEVELOPMENT. THE CORPORATION SEEKS TO DEVELOP INNOVATIVE SOLUTIONS TO COMPLEX NATIONAL CHALLENGES. 17483483 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 76 0 1 86 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DON MAFFEI 7038798142 900 N GLEBE ROAD ARLINGTON VA 22203 DR DANIEL SUI CHAIR 2.00 40.00 X X 0 450003 57683 JUSTICE RET ELIZABETH MCCLANAHAN SECRETARY/TREASURER 2.00 X X 0 0 0 DR REGINALD BROTHERS DIRECTOR 2.00 X 0 0 0 DR LANCE COLLINS DIRECTOR 2.00 40.00 X 0 704722 84563 DR RONALD FRICKER DIRECTOR 2.00 40.00 X 0 319456 66970 MR DEWEY HOUCK DIRECTOR 2.00 X 0 0 0 DR BRETT MALONE DIRECTOR 2.00 X 0 0 0 DR SCOTT MIDKIFF DIRECTOR 2.00 40.00 X 0 368479 68695 MR KEN MILLER DIRECTOR 2.00 40.00 X 0 358623 67650 DR KEVIN PITTS DIRECTOR 2.00 40.00 X 0 254662 33152 MR M DWIGHT SHELTON JR DIRECTOR 2.00 40.00 X 0 100665 0 MR SUMEET SINGH DIRECTOR 2.00 X 0 0 0 DR NANCY SPRUILL DIRECTOR 2.00 X 0 0 0 MS RENEE WYNN DIRECTOR 2.00 X 0 0 0 MR JOHN FORTE PRESIDENT/CEO 40.00 X 382917 0 61463 MR DON MAFFEI VP FINANCE & ADMINISTRATIO 40.00 X 287467 0 39021 MR TIMOTHY BRUMFIEL SR VP OPERATIONS & DEVELOPMET 40.00 X 257073 0 24193 DR MATT WOLFE VP TECHNOLOGY 40.00 X 243893 0 22757 MR MICHAEL DIFRANCISCO CHIEF ENGINEER 40.00 X 263637 0 53256 MS MAEGEN NIX DIVISION DIRECTOR 40.00 X 228330 0 34322 MR MICHAEL MILLER DIVISION DIRECTOR 40.00 X 210946 0 46286 DR KATHRYN KLEMIC DEPUTY DIVISION DIRECTOR 40.00 X 202692 0 19900 MR GLENN SMITH SENIOR SYSTEMS ENGINEER 40.00 X 189682 0 35451 2266637 2556610 715362 9 0 1 0 JTHOMPSON CONSTRUCTION LLC 215 N PAYNE ST ALEXANDRIA VA 22314 CONSTRUCTION SERVICES 249527 PALMER CONTRACTING LLC 400 BELLE AIR LN WARRENTON VA 20186 CONSTRUCTION SERVICES 214361 LAURA BARNES-WRIGHT CONSULTATION 490 MCBEE RD BELLBROOK OH 45305 TECHNICAL CONSULTING SERVICES 164050 HUTCHISON PLLC 701 CORPORATE CENTER DR STE 250 RALEIGH NC 27607 LEGAL SERVICES 122058 CORGEVITY 9745 DAYTON AVE N SEATTLE WA 98103 IT SERVICES 109714 6 12728908 12728908 RESEARCH CONTRACT REVENUE 541700 7367195 7367195 7367195 4453 4453 439645 439645 0 2105 -2105 -2105 -2105 FORGIVENESS OF DEBT 541700 300000 300000 300000 20398451 7365090 0 304453 X 661272 661272 7923280 7830795 92485 713414 650774 62640 455425 415437 39988 569981 519934 50047 124481 124481 149282 149282 4174895 4112065 62830 140901 113365 27536 910193 892279 17914 85538 59070 26468 99740 99740 40736 40736 52853 52853 OTHER DIRECT COSTS 2877276 2849028 28248 18979267 17483483 1495784 0 1118115 957750 1692315 2611772 2187386 635630 386090 337920 5867745 4304753 443470 1562992 0 4503111 5827376 10609175 2511522 1840252 21640 0 1077276 5132801 3610438 6973053 X 2216938 3636122 2216938 3636122 5827376 10609175 1419184 0 X X 0 1 X 1 1 1 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 1 1 X PART IV, SECTION D, LINE 3: VT'S OVERSIGHT OF VT-ARC'S INVESTMENT POLICIES AND USE OF INCOME/ASSETS OCCURS THROUGH THE VT-ARC BOARD OF DIRECTORS. VT-ARC'S CHIEF EXECUTIVE OFFICER IS RESPONSIBLE FOR POLICY AND INCOME AND ASSET MANAGEMENT ON AN OPERATIONAL BASIS AND REPORTS TO THE VT-ARC BOARD OF DIRECTORS AT LEAST QUARTERLY DURING THE TAX YEAR (AND MORE FREQUENTLY WHEN BOARD COMMITTEES ARE INCLUDED). VT'S VOICE IN VT-ARC IS SIGNIFICANT DUE TO THE FACT THAT 5 BOARD SEATS ARE HELD BY THE ADMINISTRATIVE LEADERSHIP OF VIRGINIA TECH AS "EX OFFICIO" DIRECTORS. VT LEADERSHIP REVIEWS VARIOUS CORPORATE POLICIES AND INCOME/ASSET MANAGEMENT THROUGH BOARD COMMITTEES THAT INCLUDE GOVERNANCE, AUDIT, COMPENSATION, AND EXECUTIVE. SECTION A, PART I, LINE 12G OTHER SUPPORT - THE EXPENSES INCURRED BY VIRGINIA TECH APPLIED RESEARCH CORPORATION (VT-ARC) THAT ARE RECORDED ON FORM 990, PART IX WERE EXPENDED TO PROVIDE SUPPORT AND MANAGEMENT TO VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VT), ITS SUPPORTED ORGANIZATION. PART IV, SECTION E, LINE 1C: VT-ARC SUPPORTED VT THROUGH SEVERAL ACTIVITIES RELATED TO THE RESEARCH AND OUTREACH MISSIONS OF THE UNIVERSITY. VT-ARC TEAMED WITH VT ON SEVERAL PROPOSAL ACTIVITIES, AND IS WORKING WITH VT PERSONNEL BOTH AS SUBCONTRACTORS AND AS INDEPENDENT SUBJECT MATTER EXPERTS. VT-ARC ALSO CONDUCTED COLLABORATIVE BUSINESS DEVELOPMENT ACTIVITIES WITH UNIVERSITY FACULTY CULMINATING IN RESEARCH AWARDS WITH NATIONAL SECURITY CUSTOMERS IN THE FEDERAL GOVERNMENT. VT-ARC ENTERED INTO SEVERAL RESEARCH CONTRACTS AND DATA SHARING AGREEMENTS FOR THE BENEFIT OF VT. DUE TO VARIOUS TERMS AND CONDITIONS THAT WERE UNACCEPTABLE TO VT AS A STATE AGENCY, VT-ARC ACCEPTED THE TERMS AND CONDITIONS TO ALLOW VT RESEARCHERS TO RECEIVE 'PASS-THROUGH' RESEARCH SUB-CONTRACTS FROM VT-ARC AND/OR ACCESS CRITICAL RESEARCH DATA. VT-ARC'S NORTHERN VIRGINIA SECURE FACILITY WAS MADE AVAILABLE TO VT FACULTY FOR COLLABORATION AND CLASSIFIED MEETINGS WITH CUSTOMERS AND RESEARCH PARTNERS. VT-ARC CONDUCTED EVALUATIVE CAPABILITY STUDIES FOR THE PURPOSES OF IDENTIFYING NEW MARKETS AND COMMERCIALIZATION PATHWAYS FOR VIRGINIA TECH RESEARCH AND TECHNOLOGY. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5293526 3823278 1470248 288467 212030 76437 285752 269445 16307 1562992 OTHER RECEIVABLES 7326 ROU ASSET 4495785 4503111 LINES OF CREDIT & NOTES PAYABLE 637016 LEASE LIABILITY 4495785 5132801 X 20838096 439645 439645 20398451 0 20398451 19418912 439645 439645 18979267 0 18979267 PART X, LINE 2: INCOME TAX FOOTNOTE VT-ARC 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. VT-ARC'S FEDERAL INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. VT-ARC 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 FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: LEASE REVENUE PART XII, LINE 2D - OTHER ADJUSTMENTS: LEASE EXPENSE 1 X X 0 0 0 0 0 0 0 0 0 DR LANCE COLLINS DIRECTOR 0 693154 0 1000 0 10568 0 51850 0 32713 0 789285 0 0 DR DANIEL SUI CHAIR 0 444536 0 1000 0 4467 0 37786 0 19897 0 507686 0 0 MR JOHN FORTE PRESIDENT/CEO 307350 0 75000 0 567 0 30735 0 30728 0 444380 0 0 0 DR SCOTT MIDKIFF DIRECTOR 0 357365 0 1000 0 10114 0 37166 0 31529 0 437174 0 0 MR KEN MILLER DIRECTOR 0 347808 0 1000 0 9815 0 50133 0 17517 0 426273 0 0 DR RONALD FRICKER DIRECTOR 0 313616 0 1000 0 4840 0 43540 0 23430 0 386426 0 0 MR DON MAFFEI VP FINANCE & ADMINISTRATIO 251900 0 35000 0 567 0 25190 0 13831 0 326488 0 0 0 MR MICHAEL DIFRANCISCO CHIEF ENGINEER 238084 0 25000 0 553 0 23254 0 30002 0 316893 0 0 0 DR KEVIN PITTS DIRECTOR 0 201705 0 51000 0 1957 0 17145 0 16007 0 287814 0 0 MR TIMOTHY BRUMFIEL SR VP OPERATIONS & DEVELOPMET 221550 0 35000 0 523 0 22155 0 2038 0 281266 0 0 0 DR MATT WOLFE VP TECHNOLOGY 208400 0 35000 0 493 0 20840 0 1917 0 266650 0 0 0 MS MAEGEN NIX DIVISION DIRECTOR 212875 0 15000 0 455 0 21288 0 13034 0 262652 0 0 0 MR MICHAEL MILLER DIVISION DIRECTOR 195500 0 15000 0 446 0 18775 0 27511 0 257232 0 0 0 MR GLENN SMITH SENIOR SYSTEMS ENGINEER 186750 0 2500 0 432 0 18675 0 16776 0 225133 0 0 0 DR KATHRYN KLEMIC DEPUTY DIVISION DIRECTOR 182233 0 20000 0 459 0 18223 0 1677 0 222592 0 0 0 PART I, LINE 1A VT-ARC MAY PROVIDE FIRST CLASS OR CHARTER TRAVEL IN SITUATIONS WHERE OTHER ACCOMMODATIONS ARE NOT REASONABLY AVAILABLE TO MEET NECESSARY MISSION REQUIREMENTS, SUCH AS WHERE LESS THAN FIRST CLASS ACCOMMODATIONS WOULD REQUIRE CIRCUITOUS ROUTING, REQUIRE TRAVEL DURING UNREASONABLE HOURS, GREATLY INCREASE THE DURATION OF THE FLIGHT, RESULT IN ADDITIONAL COSTS THAT WOULD OFFSET THE TRANSPORTATION SAVINGS, OR OFFER ACCOMMODATIONS THAT ARE NOT REASONABLY ADEQUATE FOR THE PHYSICAL OR MEDICAL NEEDS OF THE TRAVELER. FORM 990, PART VI, SECTION B, LINE 11B THIS FORM 990 IS PREPARED BY BROWN, EDWARDS & COMPANY, LLP BASED ON INFORMATION PROVIDED BY MANAGEMENT. THE FORM 990 IS REVIEWED INTERNALLY BY THE CFO AND CEO AND VT-ARC'S OUTSIDE COUNSEL. THE FORM 990 IS PROVIDED TO THE VT-ARC AUDIT COMMITTEE AND THEN TO THE WHOLE BOARD FOR APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH OFFICER, DIRECTOR AND KEY EMPLOYEE OF THE CORPORATION SUBMITS A CONFLICT OF INTEREST DISCLOSURE STATEMENT WHICH IS REVIEWED BY LEGAL COUNSEL AND THE AUDIT COMMITTEE TO ENSURE THAT THERE ARE NO ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE VT-ARC CEO IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE VT-ARC BOARD, TAKING INTO ACCOUNT SURVEY INFORMATION FOR CEOS OF COMPANIES OF COMPARABLE SIZE, SECTOR AND LOCATION, MARKET CONDITIONS, AND PERFORMANCE. THIS PROCESS IS COMPLETED ANNUALLY AND IS EFFECTIVE AT THE START OF THE FISCAL YEAR. ALSO NOTE THAT A SIMILAR PROCESS IS USED FOR THE VP, FINANCE & ADMIN (CFO); VP, OPERATIONS & DEVELOPMENT; AND VP, TECHNOLOGY. BENEFITS PAID TO THE CEO WERE ESTABLISHED CONSISTENT WITH THE AFFILIATION AGREEMENT WITH THE UNIVERSITY, WHICH REQUIRES SUCH BENEFITS OF UNIVERSITY AFFILIATES TO BE AS CLOSE AS PRACTICABLE TO THE BENEFITS OFFERED TO SIMILARLY SITUATED STAFF AT VIRGINIA TECH. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ARE ALSO AVAILABLE TO THE PUBLIC THROUGH VT-ARC. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 1,873,615. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,873,615. SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 2,238,450. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,238,450. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 62,830. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 62,830. PART XII, LINE 2C THIS PROCESS IS UNCHANGED FROM THE PRIOR YEAR. VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY 201 SOUTHGATE CENTER BLACKSBURG VA 24060 546001805 UNIVERSITY VA 115(1) 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0