2026-01-13T14:10:06-06:00 2025-06-30 540504608 BROWN EDWARDS & COMPANY LLP 4951 LAKE BROOK DRIVE SUITE 375 GLEN ALLEN VA 23060 990 2024-07-01 541854399 VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION VIRG 8048285188 800 E LEIGH STREET 3000 RICHMOND VA 23219 DR IVELINA METCHEVA PRESIDENT 8048285188 2026-01-13 1 1 M JAMES HARTSON JR CPA P00590214 8042826000 2026-01-13 2024 2025-03-06 01:10:19Z DR IVELINA METCHEVA 800 E LEIGH STREET 3000 RICHMOND VA 23219 3946392 0 X WWW.RESEARCH.VCU.EDU X 1994 VA VIRIGNIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION'S MISSION IS TO FOSTER A CULTURE OF INNOVATION AT VIRGINIA COMMONWEALTH UNIVERSITY (VCU) AND TO PROTECT AND COMMERCIALIZE INVENTIONS CREATED BY THE VCU RESEARCH ENTERPRISE FOR THE BENEFIT OF SOCIETY. 7 3 0 0 0 0 538322 711743 2795181 3197659 15636 36990 59 0 3349198 3946392 0 0 0 0 1026 0 0 0 0 3189666 3154296 3190692 3154296 158506 792096 5395479 6341219 832290 549525 4563189 5791694 X THE FOUNDATION DETERMINES THE PATENTABILITY AND OBTAINS PATENTS ON VIRGINIA COMMONWEALTH UNIVERSITY (VCU) INVENTIONS AND MARKETS AND LICENSES SUCH INVENTIONS TO COMMERICAL ENTITIES. THE FOUNDATION'S ACTIVITIES PROMOTE RESEARCH EFFORTS AT THE SCHOOL AND RESULTING ROYALTIES PROVIDE ECONOMIC SUPPORT FOR THE UNIVERSITY. THE FOUNDATION ALSO PROVIDES PATENT AND LICENSING CLINICS FOR VCU STUDENTS AND EMPLOYED APPROXIMATELY 1 VCU STUDENT AS AN INTERN OR PART-TIME EMPLOYEE. 0 0 2968655 3197659 TO PROTECT AND COMMERCIALIZE VCU TECHNOLOGIES THROUGH PATENTING AND LICENSING. DURING THE FISCAL YEAR ENDED JUNE 30, 2024, THE VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION HAD - 1110 NEW INVENTION DISCLOSURES BY VCU INVENTORS - 171 PATENT APPLICATIONS FILED - 20 PATENTS ISSUED - 27 LICENSES AND OPTIONS - 17 PROOF-OF-CONCEPT GRANTS - 17 START-UP LICENSES AND 8 NEW VENTURES. 2968655 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 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 36 0 1 0 0 0 0 0 0 0 0 0 0 0 X 7 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X THE ORGANIZATION 8048285188 800 E LEIGH STREET NO 3000 RICHMOND VA 23219 DR IVELINA S METCHEVA PRESIDENT 40.00 X X 0 213931 36870 ANDREW WHITE DIRECTOR 1.00 X 0 0 0 MR SPENCER WILLIAMSON DIRECTOR 1.00 X 0 0 0 P SRIRAMA RAO EX-OFFICIO 1.00 X 0 0 0 DR DALES JONES DIRECTOR 1.00 X 0 0 0 DR REINHOLD BRAND DIRECTOR 1.00 X 0 0 0 RICHARD PELLEGRINO DIRECTOR 1.00 X 0 0 0 0 213931 36870 0 0 1 0 WHITHAM & COOK PC 11491 SUNSET HILLS ROAD SUITE 340 RESTON VA 20190 DEVELOPMENT COSTS 395007 LAWRENCE SCHWARTZ 1 WELWYN PLACE RICHMOND VA 23229 ROYALTIES 298086 CHRISTOPHER G EARNHART 8301 CATHARPIN LANDING ROAD SPOTSYLVANIA VA 22553 ROYALTIES 276533 RICHARD T MARCONI 13718 HICKORY NUT POINT MIDLOTHIAN VA 23112 ROYALTIES 276533 4 249043 462700 711743 ROYALTY/LICENSE FEES 900099 3084650 3084650 PATENT COST REIMBURSED 900099 113009 113009 3197659 23043 23043 13947 0 13947 13947 13947 3946392 3197659 0 36990 194522 155618 38904 69618 35180 34438 44256 44256 108573 108573 90175 90175 41298 36156 5142 9015 7212 1803 46270 11888 34382 7282 7282 ROYALTY DISTRIBUTIONS 1464855 1464855 PATENT DEVELOPMENT 711878 711878 AWARDS 290249 290249 TECH DEVELOPMENT COSTS 56871 56871 19434 19434 3154296 2968655 185641 0 903380 1026143 150270 740275 983723 7285 7506 21360 21360 0 0 3744539 4173577 5395479 6341219 832290 549525 832290 549525 X 4563189 5791694 4563189 5791694 5395479 6341219 792096 436409 0 X X 0 1 X 1 0 X X 1 VIRGINIA COMMONWEALTH UNIVERSITY 546001758 6 1 2968655 0 1 2968655 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 2143177 219713 2362890 1941031 202146 2143177 1832092 108939 1941031 1969572 -137480 1832092 1427406 542166 1969572 1.00000 1 0 21360 21360 0 0 VCU FOUNDATION FUND 1810687 F MCV FOUNDATION FUND 2362890 F 4173577 X 4338545 436409 436409 3902136 44256 44256 3946392 3110040 0 3110040 44256 44256 3154296 PART X, LINE 2: THE FOUNDATION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE FOUNDATION. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE TAXING AUTHORITIES FOR YEARS ENDING BEFORE JUNE 30, 2022. 0 0 0 0 0 0 0 0 0 DR IVELINA S METCHEVA PRESIDENT 0 213931 0 0 0 0 0 0 0 36870 0 250801 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE FOUNDATION'S BOARD OF TRUSTEES UPON ITS COMPLETION. A FINAL COPY OF FORM 990 IS MADE AVAILABLE TO THE BOARD AFTER COMPLETED. THE FORM IS FILED AND MADE AVAILABLE FOR PUBLIC INSPECTION AT THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION'S CONFLICT OF INTEREST POLICY REQUIRES THAT EACH MEMBER OF THE BOARD OF DIRECTORS SUBMIT A CONLFICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A VIRGINIA COMMONWEALTH UNIVERSITY DETERMINES THE SALARY FOR THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS CAN BE DISTRIBUTED TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE FOUNDATION'S PROCESS FOR SELECTING INDEPENDENT AUDITORS AND OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR. VIRGINIA COMMMONWEALTH UNIVERSITY 910 WEST FRANKLIN STREET RICHMOND VA 23284 546001758 PROMOTE & AID SCIENTIFIC INVESTIGATION & RESEARCH AT VCU. VA SECTION 170(B)(1)(A) 6 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 VIRGINIA COMMONWEALTH UNIVERSITY P 872378 BOOK VALUE VIRGINIA COMMONWEALTH UNIVERSITY C 249043 BOOK VALUE