UNIVERSITY OF VIRGINIA PATENT FOUN… - Form 990 Financial Data

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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

1978

Legal Domicile

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 mid-sized nonprofit in the Education sector that reported $11.4M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

THE UVA LICENSING AND VENTURES GROUP IS DEDICATED TO GROWING AND GUIDING UNIVERSITY INNOVATIONS WHILE IMPROVING LIVES ON GROUNDS AND AROUND THE WORLD.

Program Service Accomplishments

Program 1

Expenses: $3,667,333 Revenue: $4,617,297

PATENTING: THE PATENTING DEPARTMENT PREPARES AND FILES PATENT APPLICATIONS. DURING THE FISCAL YEAR ENDED 2025, THE UNIVERSITY OF VIRGINIA PATENT FOUNDATION D/B/A UNIVERSITY OF VIRGINIA LICENSING AND...

Program 2

Expenses: $5,251,801 Revenue: $6,755,885

LICENSING: THE LICENSING DEPARTMENT EVALUATES, MARKETS, AND LICENSES INVENTIONS. DURING THE FISCAL YEAR ENDED 2025, LVG SOLICITED 168 INVENTION DISCLOSURES FROM UVA FACULTY, STAFF, AND STUDENT...

LICENSING: THE LICENSING DEPARTMENT EVALUATES, MARKETS, AND LICENSES INVENTIONS. DURING THE FISCAL YEAR ENDED 2025, LVG SOLICITED 168 INVENTION DISCLOSURES FROM UVA FACULTY, STAFF, AND STUDENT INVENTORS AND EXECUTED 91 COMMERCIAL TRANSACTIONS.

Program 3

Expenses: $1,136,898

NEW VENTURES: UVA LVG PROVIDES RESOURCES AND EXPERTISE TO SUPPORT THE ENTREPRENEURIAL AND INVESTMENT PROCESS. DURING THE FISCAL YEAR ENDED 2025, LVG HELPED LAUNCH 8 NEW VENTURES. ADDITIONALLY, LVG...

NEW VENTURES: UVA LVG PROVIDES RESOURCES AND EXPERTISE TO SUPPORT THE ENTREPRENEURIAL AND INVESTMENT PROCESS. DURING THE FISCAL YEAR ENDED 2025, LVG HELPED LAUNCH 8 NEW VENTURES. ADDITIONALLY, LVG MANAGES AN INNOVATION FUND, WHICH IS COMPRISED OF SEED FUNDING AND VENTURE FUNDING, IN COLLABORATION WITH THE UNIVERSITY OF VIRGINIA AND THE UNIVERSITY OF VIRGINIA HEALTH SYSTEM.

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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%)

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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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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$956,260

Total Directors

$2,278,420

Key Employees

Highest Compensated

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

UNIVERSITY OF VIRGINIA PATENT FOUNDATION