Morgantown, WV
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)West Virginia University Innovation Corporation, founded in 2015, is a community nonprofit in the Science & Technology sector that reported $1.5M in total revenue in fiscal year 2023. Revenue fell 37% from the prior year — a significant decline worth monitoring. Expenses of $8.2M exceeded revenue, resulting in a 447% operating deficit.
To offer a wide range of strategic partnerships, academia, employment and community opportunities to the state, while promoting innovation and critical thinking within our workforce. Our vision is to catalyze economic growth and improve health outcomes through the advancement of science, medicine and technology in West Virginia and beyond.
In 2022, WVUIC acquired a substantial manufacturing, development, and research facility as a donation the Facility. With the acquisition of the Facility, WVUIC will further its purpose of i providing...
In 2022, WVUIC acquired a substantial manufacturing, development, and research facility as a donation the Facility. With the acquisition of the Facility, WVUIC will further its purpose of i providing facilities, resources, and support to facilitate the development or incubation of companies that will improve the economic development of the region through contractual agreements designed to maximize the stimulation, protection, and exploitation of intellectual property within the University community and ii encouraging, promoting, and supporting activities of the University related to the entrepreneurship and the development, testing, and evaluation of new technologies, research, and innovation by assisting and evaluating technologies and projects owned by the federal government and private industry.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $1,493,034 | $2,370,971 | -0.4% |
| Expenses | $8,167,782 | $4,926,198 | +0.7% |
| Net Income | $-6,674,748 | $-2,555,227 | +1.6% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Albert Wright Jr | WVUHS President/WVUIC Director | 000.25 |
Director
|
$0 | $409,396 | $3,955,695 |
| Douglas Coffman | WVUHS CFO/WVUIC Director through July 2023 | 000.25 |
Director
|
$0 | $25,873 | $800,899 |
| Stacey K Armstrong | WVUIC President | 020.00 |
Officer
|
$537,826 | $107,324 | $645,150 |
| Nicholas Barcellona | WVUHS CFO/WVUIC Director starting August 2023 | 000.25 |
Director
|
$0 | $78,064 | $449,047 |
| J Robert Alsop | WVU VP for Strategic Initiatives/WVUIC Director | 000.25 |
Director
|
$0 | $19,800 | $440,348 |
| Felicia Imbrogno | WVUHS AVP Senior Corporate Counsel/WVUIC Assistant Secretary | 000.25 |
Director
|
$0 | $42,626 | $336,474 |
| David Kosslow | WVU Associate VP for Finance Treasury/WVUIC Assistant Treasurer | 012.50 |
Officer
|
$0 | $34,684 | $224,502 |
| Erica Steratore | WVUIC Associate VP | 040.00 |
Highest
|
$179,430 | $17,529 | $196,959 |
| Randy Strimel | Director Facilities Engineering | 040.00 |
Highest
|
$167,221 | $28,816 | $196,037 |
| Rossi Wiles | WVU Deputy General Counsel for Innovation Research/WVUIC Secretary | 012.50 |
Officer
|
$0 | $19,910 | $185,681 |
| Stephen Johnson | Manager Facilities Engineering | 040.00 |
Highest
|
$95,417 | $34,642 | $130,059 |
| Rob Snare | Director Security | 040.00 |
Highest
|
$118,521 | $5,313 | $123,834 |
| Joe Farber | Team Leader Facilities | 040.00 |
Highest
|
$99,957 | $19,530 | $119,487 |
| Thomas Heywood | Director | 000.25 |
Director
|
$0 | $0 | $0 |
| Marston Becker | Director | 000.25 |
Director
|
$0 | $0 | $0 |
| Michael Graney | Director | 000.25 |
Director
|
$0 | $0 | $0 |
| Thomas V Flaherty | Director | 000.25 |
Director
|
$0 | $0 | $0 |
| William D Wilmoth | Director | 000.25 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $1,493,034 | $8,167,782 | $57,398,686 | $-6,674,748 |
| 2022 | $11,450,000 | $4,408,606 | $58,733,877 | $7,041,394 |
| 2022 | $2,370,971 | $4,926,198 | $58,745,858 | $-2,555,227 |
| 2021 | $5,942,099 | $4,495,121 | $2,905,835 | $1,446,978 |
| 2020 | $4,046,281 | $5,375,855 | $3,495,085 | $-1,329,574 |
| 2019 | $4,275,131 | $5,597,999 | $4,654,420 | $-1,322,868 |
| 2018 | $3,837,215 | $5,182,187 | $4,513,331 | $-1,344,972 |
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