VIRGINIA INNOVATION PARTNERSHIP CORPORATION (EIN 541282820) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

JOE BENEVENTO

Phone

7036893035

Tax Period

2022-07-01 to 2023-06-30

VIRGINIA INNOVATION PARTNERSHIP CORPORATION, founded in 1984, is a mid-sized nonprofit in the Science & Technology sector that reported $76.1M in total revenue in fiscal year 2020. Revenue surged 167% from the prior year, signaling strong growth momentum. The organization ran a surplus of $54.4M, a strong 72% operating margin.

Mission

VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $17,232,371

Program Service Revenue $14,820,183

Investment Income $2,705,381

Other Revenue $35,688

TOTAL REVENUE $34,793,623

Expense Breakdown

Grants Paid $8,979,239

Salaries & Benefits $7,710,789

Fundraising Expenses $0

Program Expenses $32,947,439

Other Expenses $21,336,054

TOTAL EXPENSES $38,026,082

Year-over-Year Comparison

	2022	2021	Change
Revenue	$34,793,623	$22,793,161	+0.5%
Expenses	$38,026,082	$25,978,938	+0.5%
Net Income	$-3,232,459	$-3,185,777	+0.0%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$645,427

Total Directors

Key Employees

$907,660

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOB STOLLE	PRESIDENT &	40.00	Officer	$303,313	$57,876	$361,189
TOM WEITHMAN	CIO & VP	40.00	Key Emp	$285,924	$66,002	$351,926
DAVE IHRIE	CHIEF TECH O	40.00	Key Emp	$257,009	$52,320	$309,329
SUSAN AITCHESON	CFO	40.00	Officer	$243,440	$40,798	$284,238
MARCO RUBIN	DIR, INVESTM	40.00	Highest	$205,650	$50,283	$255,933
SEAN MALLON	VP COMMERCIA	40.00	Key Emp	$209,608	$36,797	$246,405
CONAWAY HASKINS	VP, ENTREPRE	40.00	Highest	$180,920	$53,532	$234,452
ANGELA COSTELLO	VP, COMM & M	40.00	Highest	$181,518	$43,476	$224,994
ALEX EULER	DIR, INVESTM	40.00	Highest	$162,253	$41,236	$203,489
JEN O'DANIEL	DIR, INVESTM	40.00	Highest	$170,551	$32,194	$202,745
MONIQUE ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA BOYAN	CHAIR	2.00	Officer Director	$0	$0	$0
RICHARD HALL	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW KO	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS LONG	DIRECTOR	1.00	Director	$0	$0	$0
HONORABLE CAREN MERRICK	VICE CHAIR	1.00	Director	$0	$0	$0
ROB QUARTEL	DIRECTOR	1.00	Director	$0	$0	$0
PAULA SORRELL	DIRECTOR	1.00	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$34,793,623	$38,026,082	$85,819,315	$-3,232,459
2022	$22,793,161	$25,978,938	$75,363,860	$-3,185,777
2021	$76,061,606	$21,650,254	$80,085,835	$54,411,352

VIRGINIA INNOVATION PARTNERSHIP CORPORATION