VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION

EIN: 541854399 501(c)(3) Medical Research

RICHMOND, VA

Total Revenue
$3,946,392
Total Expenses
$3,154,296
Total Assets
$6,341,219
Net Assets
$5,791,694
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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
1994
Legal Domicile
VA
Principal Officer
DR IVELINA METCHEVA
Phone
8048285188
Tax Period
2024-07-01 to 2025-06-30

VIRGINIA COMMONWEALTH UNIVERSITY INTELLECTUAL PROPERTY FOUNDATION, founded in 1994, is a community nonprofit in the Medical Research sector that reported $3.9M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $792K, a strong 20% operating margin.

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.

Program Service Accomplishments

Program 1
Expenses: $2,968,655 Revenue: $3,197,659

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 -...

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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.

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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 (2024)

Revenue Breakdown

Contributions & Grants $711,743
Program Service Revenue $3,197,659
Investment Income $36,990
Other Revenue $0
TOTAL REVENUE $3,946,392

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,968,655
Other Expenses $3,154,296
TOTAL EXPENSES $3,154,296

Year-over-Year Comparison

2024 2023 Change
Revenue $3,946,392 $3,349,198 +0.2%
Expenses $3,154,296 $3,190,692 0.0%
Net Income $792,096 $158,506 +4.0%
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
7
Independent Members
3
Employees
N/A
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
1
$250,801
Total Directors
7
$250,801
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR IVELINA S METCHEVA PRESIDENT 40.00
Officer Director
$0 $36,870 $250,801
ANDREW WHITE DIRECTOR 1.00
Director
$0 $0 $0
MR SPENCER WILLIAMSON DIRECTOR 1.00
Director
$0 $0 $0
P SRIRAMA RAO EX-OFFICIO 1.00
Director
$0 $0 $0
DR DALES JONES DIRECTOR 1.00
Director
$0 $0 $0
DR REINHOLD BRAND DIRECTOR 1.00
Director
$0 $0 $0
RICHARD PELLEGRINO 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 $3,946,392 $3,154,296 $6,341,219 $792,096
2024 $3,349,198 $3,190,692 $5,395,479 $158,506
2023 $2,808,546 $2,987,908 $4,758,542 $-179,362
2022 $3,452,341 $3,503,592 $4,582,975 $-51,251
2021 $2,855,474 $2,935,342 $4,910,012 $-79,868
2020 $2,442,400 $2,678,377 $4,538,318 $-235,977
2019 $2,548,417 $2,893,770 $4,240,527 $-345,353
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