UNIVERSITY OF VIRGINIA PATENT FOUNDATION

EIN: 541045487 501(c)(3) Education

CHARLOTTESVILLE, VA

Total Revenue
$11,383,590
Total Expenses
$11,420,744
Total Assets
$19,864,383
Net Assets
$1,588,389
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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
VA
Principal Officer
RICHARD CHYLLA
Phone
4349242175
Tax Period
2024-07-01 to 2025-06-30

UNIVERSITY OF VIRGINIA PATENT FOUNDATION, founded in 1978, is a community nonprofit in the Education sector that reported $8.3M in total revenue in fiscal year 2017.

Mission

THE PRINCIPAL ACTIVITY OF THE FOUNDATION IS TO SUPPORT THE UNIVERSITY'S 2030 PLAN TO BECOME A "GREAT AND GOOD UNIVERSITY AND TO "ENABLE DISCOVERIES THAT ENRICH AND IMPROVE LIVES" VIA COMMERCIALIZATION OF UNIVERSITY RESEARCH AND INTELLECTUAL PROPERTY. THIS ACTIVITY INCLUDES SUPPORTING THE UNIVERSITY'S INDUSTRY AND TRANSLATIONAL RESEARCH INITIATIVES; PERFORMING DUE-DILIGENCE ON SOLICITED AND DISCLOSED INTELLECTUAL PROPERTY; PREPARING AND FILING PATENT APPLICATIONS, COPYRIGHTS, AND TRADEMARKS; ENGAGING IN BUSINESS DEVELOPMENT; NEGOTIATING AND EXECUTING LICENSE AGREEMENTS; SUPPORTING NEW VENTURE CREATION; INVESTING IN UVA PORTFOLIO COMPANIES; MONITORING COMPLIANCE; AND DISTRIBUTING INCOME.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $11,350,613
Investment Income $10,408
Other Revenue $22,569
TOTAL REVENUE $11,383,590

Expense Breakdown

Grants Paid $2,502,067
Salaries & Benefits $3,050,939
Fundraising Expenses $0
Program Expenses $10,073,488
Other Expenses $5,867,738
TOTAL EXPENSES $11,420,744

Year-over-Year Comparison

2024 2023 Change
Revenue $11,383,590 $9,961,448 +0.1%
Expenses $11,420,744 $9,957,478 +0.1%
Net Income $-37,154 $3,970 -10.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
6
Employees
18
Volunteers
6

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
$956,260
Total Directors
12
$2,278,420
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL LENOX DIRECTOR 1.00
Director
$0 $104,586 $737,899
JENNIFER WEST DIRECTOR 1.00
Director
$0 $115,526 $658,435
JEFFREY MARTENS DIRECTOR 1.00
Director
$0 $58,877 $469,423
RICHARD CHYLLA EXECUTIVE DIRECTOR 40.00
Officer
$405,833 $61,241 $467,074
LORI MCMAHON DIRECTOR 1.00
Director
$0 $46,968 $412,663
ROBERT CREEDEN DIRECTOR OF UVA LVG SEED FUND 40.00
Highest
$257,081 $45,031 $302,112
ROBERT DECKER BOARD SECRETARY, SENIOR PATENT COUNSEL 40.00
Officer
$235,952 $46,889 $282,841
JILL SIMANDL DIRECTOR OF FINANCE AND OPERATIONS 40.00
Officer
$170,167 $36,178 $206,345
JOSHUA MAULDIN DIRECTOR OF LICENSING 40.00
Highest
$164,147 $39,352 $203,499
JONATHAN RUDD LICENSING MANAGER 40.00
Highest
$112,762 $23,912 $136,674
CORTNEY MUSHILL LICENSING MANAGER 40.00
Highest
$105,469 $28,340 $133,809
FRED EPSTEIN DIRECTOR 1.00
Director
$0 $0 $0
PETER GRANT II CHAIR 1.00
Officer Director
$0 $0 $0
ERIK HEWLETT DIRECTOR 1.00
Director
$0 $0 $0
JOHN LAZO DIRECTOR 1.00
Director
$0 $0 $0
PAUL MICHEL DIRECTOR 1.00
Director
$0 $0 $0
RONALD NEWBOLD VICE CHAIR 1.00
Officer Director
$0 $0 $0
RICHARD TADLER DIRECTOR 1.00
Director
$0 $0 $0
KWAME ULMER TREASURER 1.00
Officer Director
$0 $0 $0
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 $11,383,590 $11,420,744 $19,864,383 $-37,154
2024 $9,961,448 $9,957,478 $19,043,316 $3,970
2023 $9,568,923 $9,563,970 $19,920,463 $4,953
2022 $9,580,641 $9,540,273 $21,114,215 $40,368
2021 $17,080,240 $17,056,232 $17,324,397 $24,008
2020 $11,092,298 $11,044,084 $16,395,232 $48,214
2019 $9,657,639 $9,613,238 $16,011,199 $44,401
2018 $8,250,055 $8,278,252 $10,184,019 $-28,197
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