VIRGINIA BIOSCIENCES HEALTH RESEARCH CORPORATION

EIN: 461961453 501(c)(3) Science & Technology

RICHMOND, VA

Total Revenue
$7,885,549
Total Expenses
$7,916,981
Total Assets
$15,811,648
Net Assets
$15,621,648
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
VA
Principal Officer
MICHAEL GRISHAM
Phone
8045455799
Tax Period
2023-07-01 to 2024-06-30

VIRGINIA BIOSCIENCES HEALTH RESEARCH CORPORATION, founded in 2013, is a community nonprofit in the Science & Technology sector that reported $7.9M in total revenue in fiscal year 2023. Revenue surged 2089% from the prior year, signaling strong growth momentum.

Mission

TO ADVANCE ECONOMIC DEVELOPMENT BY CREATING COMPETITIVE CRITICAL MASS FOR VIRGINIA LIFE SCIENCES THROUGH COLLABORATIONS WITH OUR RESEARCH UNIVERSITIES AND INDUSTRY, TO ATTRACT RESEARCH AND COMMERCIALIZATION CAPITAL TO VIRGINIA AND TO CATALYZE THE COMMERCIALIZATION OF VIRGINIA'S INNOVATIONS THAT MEET LARGE, UNMET MEDICAL NEEDS, IMPROVE HUMAN HEALTH AND TO CREATE MANY MORE HIGH-PAYING LIFE SCIENCE JOBS IN VIRGINIA.

Program Service Accomplishments

Program 1
Expenses: $7,826,705

CREATE STRONGER WORKING PARTNERSHIP BETWEEN VIRGINIA ACADEMIC RESEARCH UNIVERSITIES, THE BIOTECHNOLOGY INDUSTRY, AND HEALTH DELIVERY SYSTEMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,568,370
Program Service Revenue $0
Investment Income $317,179
Other Revenue $0
TOTAL REVENUE $7,885,549

Expense Breakdown

Grants Paid $3,019,383
Salaries & Benefits $403,259
Fundraising Expenses $0
Program Expenses $7,826,705
Other Expenses $4,494,339
TOTAL EXPENSES $7,916,981

Year-over-Year Comparison

2023 2022 Change
Revenue $7,885,549 $360,182 +20.9%
Expenses $7,916,981 $3,244,521 +1.4%
Net Income $-31,432 $-2,884,339 -1.0%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
15
Independent Members
15
Employees
2
Volunteers
11

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$379,000
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID X CIFU MD CHAIR 1.00
Officer Director
$0 $0 $0
KYP SIRINAKIS VICE CHAIR 1.00
Officer Director
$0 $0 $0
MORRIS W FOSTER PHD TREASURER 1.00
Officer Director
$0 $0 $0
THOMAS D ROBERTS III SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL FRIEDLANDER PHD DIRECTOR 0.50
Director
$0 $0 $0
CHARLES ANAMELECHI PHD DIRECTOR 0.50
Director
$0 $0 $0
ANDRE MARSHALL PHD DIRECTOR 0.50
Director
$0 $0 $0
HOWARD P KERN DIRECTOR 0.50
Director
$0 $0 $0
MELUR RAMASUBRAMANIAN PHD DIRECTOR 0.50
Director
$0 $0 $0
VINCE BARNETT DIRECTOR 0.50
Director
$0 $0 $0
DENNIS MANOS PHD DIRECTOR 0.50
Director
$0 $0 $0
JEFF CONROY DIRECTOR 0.50
Director
$0 $0 $0
SRIRAMA RAO PHD DIRECTOR 0.50
Director
$0 $0 $0
MILTON BROWN MD PHD DIRECTOR 0.50
Director
$0 $0 $0
JOSEPH BENEVENTO DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL GRISHAM PRESIDENT & CEO 40.00
Officer
$200,000 $0 $200,000
SUZANNE ZETA PHD VP 40.00
Officer
$155,000 $24,000 $179,000
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $7,885,549 $7,916,981 $15,811,648 $-31,432
2023 $360,182 $3,244,521 $15,800,580 $-2,884,339
2022 $7,801,213 $3,121,531 $18,803,065 $4,679,682
2021 $5,300,132 $3,027,220 $14,010,465 $2,272,912
2020 $7,853,248 $3,641,424 $11,820,580 $4,211,824
2019 $354,109 $4,629,656 $7,983,102 $-4,275,547
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