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Nonprofit · EIN 54-1854399

VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION

Tax-exempt · RICHMOND, VA 23219

Financials

$2.8M$3M2022$3.3M$3.2M2023$3.9M$3.2M2024
Revenue Expenses · by fiscal year end
Financials of VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$3,946,392$3,154,296$792,096$6,341,219$549,525$5,791,694
June 30, 2024990$3,349,198$3,190,692$158,506$5,395,479$832,290$4,563,189
June 30, 2023990$2,808,546$2,987,908-$179,362$4,758,542$773,867$3,984,675
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$711,743
of which government grants
$462,700
Program service revenue
$3,197,659
Investment income
$36,990
Net gain from sales of assets
$13,947
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$69,618
Occupancy
$9,015
Program services (functional)
$2,968,655
Management and general (functional)
$185,641

Balance sheet and other

Total assets, start of year
$5,395,479
Total assets, end of year
$6,341,219
Total liabilities, end of year
$549,525
Net assets, end of year
$5,791,694
Net assets without donor restrictions
$5,791,694
Gross receipts
$3,946,392
Employees
0
Volunteers
0
Year formed
1994
State of legal domicile
VA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
DR IVELINA S METCHEVAPRESIDENT
Trustee or director, Officer
40$0$213,931$36,870
ANDREW WHITEDIRECTOR
Trustee or director
1$0$0$0
MR SPENCER WILLIAMSONDIRECTOR
Trustee or director
1$0$0$0
P SRIRAMA RAOEX-OFFICIO
Trustee or director
1$0$0$0
DR DALES JONESDIRECTOR
Trustee or director
1$0$0$0
DR REINHOLD BRANDDIRECTOR
Trustee or director
1$0$0$0
RICHARD PELLEGRINODIRECTOR
Trustee or director
1$0$0$0
990 for the year ended June 30, 2024: 6 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
DR IVELINA S METCHEVAPRESIDENT
Trustee or director, Officer
40$0$199,920$31,647
MR GARY LECLAIRDIRECTOR
Trustee or director
1$0$0$0
MR SPENCER WILLIAMSONDIRECTOR
Trustee or director
1$0$0$0
P SRIRAMA RAOEX-OFFICIO
Trustee or director
1$0$0$0
DR DALES JONESDIRECTOR
Trustee or director
1$0$0$0
DR REINHOLD BRANDDIRECTOR
Trustee or director
1$0$0$0
990 for the year ended June 30, 2023: 7 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
DR IVELINA S METCHEVAPRESIDENT
Trustee or director, Officer
40$0$186,956$29,861
MR GARY LECLAIRDIRECTOR
Trustee or director
1$0$0$0
MR SPENCER WILLIAMSONDIRECTOR
Trustee or director
1$0$0$0
P SRIRAMA RAOEX-OFFICIO
Trustee or director
1$0$0$0
DR DALES JONESDIRECTOR
Trustee or director
1$0$0$0
DR REINHOLD BRANDDIRECTOR
Trustee or director
1$0$0$0
NANCY EBERHARDTSECRETARY
Trustee or director, Officer
1$0$0$0

Address and contacts

Address (IRS master file)
800 E LEIGH ST STE 3000, RICHMOND, VA 23219-1539
Principal officer (990 for 2024)
DR IVELINA METCHEVA, 800 E LEIGH STREET 3000, RICHMOND, VA 23219
Signed the 990
DR IVELINA METCHEVA, PRESIDENT
Phone
(804) 828-5188
Return prepared by
BROWN EDWARDS & COMPANY LLP

Mission

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.

990 for the year ended June 30, 2025

Program accomplishments

  • 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.
    Expenses $2,968,655 · revenue $3,197,659

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
54-1854399
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization (509(a)(3))
Donations deductible (Pub 78)
Supporting organization of unknown type
Exempt since
1997
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$6,341,219
Income (IRS master file)
$3,946,392

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$3,946,392$3,154,296$6,341,219XML
990June 2024$3,349,198$3,190,692$5,395,479XML
990June 2023$2,808,546$2,987,908$4,758,542XML
990June 2022–––IRS
990June 2021–––IRS
990June 2019–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-1854399).

Questions about VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION

What is the EIN of VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION?
The employer identification number (EIN) of VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION is 54-1854399.
Is VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
Are donations to VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
Which annual return does VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION?
The 990 for the year ended June 30, 2025 names DR IVELINA METCHEVA.
Who are the officers and directors of VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION?
The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
How much revenue does VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $3,946,392, expenses of $3,154,296 and total assets of $6,341,219 at year end.

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