Overview
What is Virginia Tech Applied Research Corporation?
The Virginia Tech Applied Research Corporation (VT-ARC) is a nonprofit organization located at 900 N Glebe Road 700, Arlington, Virginia, 22203. Its mission is to expand the reach of Virginia Tech's fundamental research by addressing complex problems related to applied research and development. VT-ARC specializes in applied research, development, technical services, and commercialization, acting as an extension of Virginia Tech's research enterprise. With a workforce of 54 employees, the corporation focuses on delivering superior analytic and technology solutions to government and non-government customers to tackle national challenges.
Official website here: www.vt-arc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 84%, Three-Star out of Four Star rating.
Virginia Tech Applied Research Corporation holds a solid Three-Star rating from Charity Navigator, reflecting its commendable accountability and financial management. The organization excels in governance, with a majority of independent board members and strong policies in place, including those for conflict of interest and whistleblower protections. Their financial oversight is robust, evidenced by a well-structured audit and oversight committee, as well as a commitment to transparency through proper documentation practices.
The organization shows a strong commitment to its mission, as indicated by a high program expense ratio of 84.55%, which suggests that a significant portion of its funds is directed towards its programs rather than administrative costs. However, its liabilities to assets ratio is noted at 65.72%, which may raise some concerns regarding financial stability and the organization's ability to manage its debts effectively.
Overall, while Virginia Tech Applied Research Corporation demonstrates strong governance and programmatic focus, potential donors might want to consider the implications of its financial ratio on long-term sustainability. The organization’s transparency and adherence to accountability standards provide confidence in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Tech Applied Research Corporation legitimate?
Virginia Tech Applied Research Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Tech Applied Research Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $615,501
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,427,288
For more financial information, click here
Official website here: www.vt-arc.org
What is the mission statement of Virginia Tech Applied Research Corporation?
The Virginia Tech Applied Research Corporation (VT-ARC) is dedicated to extending the impact of Virginia Tech's research and innovation enterprise. By identifying and addressing complex problems associated with applied research and development, VT-ARC delivers superior analytic and technology solutions to both government and non-government clients. The mission of VT-ARC is to develop innovative solutions to national challenges through the application of Virginia Tech's fundamental research. The corporation's work focuses on delivering advanced technologies and insights that address the complexities of modern issues. Through its applied research approach, VT-ARC aims to make a significant impact in various domains and contribute to the overall progress of society.
Official website here: www.vt-arc.org
Who is the CEO of Virginia Tech Applied Research Corporation?
Don Maffei is the Chair of Virginia Tech Applied Research Corporation. The CEO's salary of Virginia Tech Applied Research Corporation is $319,417 and their total compensation is $352,097.
Official website here: www.vt-arc.org
What is the revenue of Virginia Tech Applied Research Corporation?
Virginia Tech Applied Research Corporation's revenue in 2022 was $18,502,701.
Official website here: www.vt-arc.org
Who are the executives of Virginia Tech Applied Research Corporation and what are their salaries?
The average compensation at Virginia Tech Applied Research Corporation during 2022 was $111,904. There are 54 employees at Virginia Tech Applied Research Corporation.
Here are 22 key members and their salaries (Virginia Tech Applied Research Corporation's CEO's salary is $319,417 and their total compensation is $352,097):
- Compensation: $0
- Related: $428,672
- Other: $58,621
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $675,086
- Other: $81,092
- Compensation: $0
- Related: $326,648
- Other: $68,538
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $349,427
- Other: $66,700
- Compensation: $0
- Related: $334,096
- Other: $63,710
- Compensation: $0
- Related: $134,220
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $319,417
- Related: $0
- Other: $32,680
- Compensation: $302,284
- Related: $0
- Other: $28,083
- Compensation: $226,494
- Related: $0
- Other: $22,568
- Compensation: $213,711
- Related: $0
- Other: $21,137
- Compensation: $245,366
- Related: $0
- Other: $28,408
- Compensation: $168,551
- Related: $0
- Other: $17,670
- Compensation: $168,256
- Related: $0
- Other: $18,678
- Compensation: $190,393
- Related: $0
- Other: $18,767
- Compensation: $175,124
- Related: $0
- Other: $19,447
Official website here: www.vt-arc.org
Where can I find the form 990 for Virginia Tech Applied Research Corporation?
Virginia Tech Applied Research Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vt-arc.org
Learn more at the official website: www.vt-arc.org
Mission Statement of Virginia Tech Applied Research Corporation
Virginia Tech Applied Research Corporation (VT-ARC) is an organization that builds on the fundamental research conducted within Virginia Tech. In doing so, it extends the reach and impact of the Virginia Tech research and innovation enterprise. With a commitment to delivering superior analytic and technology solutions, VT-ARC tackles complex problems related to applied research and development. The corporation is dedicated to creating innovative solutions to address national challenges. By identifying and addressing intricate issues, VT-ARC effectively bridges the gap between the theoretical findings of Virginia Tech's research and their practical application. In essence, VT-ARC acts as an extension of Virginia Tech, transforming groundbreaking ideas into tangible, real-world solutions for both government and non-government clients.
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Impact
October, 2024
Virginia Tech Applied Research Corporation (VT-ARC) plays a crucial role in transforming fundamental research into practical applications, addressing complex challenges faced by government and non-government organizations. By leveraging the extensive research capabilities of Virginia Tech, VT-ARC engages in applied research, development, and commercialization efforts that deliver innovative solutions tailored to the needs of its clients.
Located in Arlington, Virginia, VT-ARC focuses on solving intricate problems through advanced analytics and technology solutions. Its mission emphasizes enhancing the impact of the university's research by bridging the gap between theoretical knowledge and real-world applications. This approach allows VT-ARC to tackle national challenges across various fields, contributing to advancements in areas such as science and technology.
The corporation’s work not only supports federal and state initiatives but also fosters collaboration with industry partners, thereby promoting innovation and economic growth within the region. By prioritizing the identification and resolution of complex issues, VT-ARC significantly enhances the effectiveness of research initiatives and helps drive progress in critical sectors.
This information is meant to be a general summary of Virginia Tech Applied Research Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$5,718
- Program Service Revenue: $11,548,833
- Gross Receipts: $18,948,580
Assets and Liabilities:
- Total Assets: $5,827,376
- Total Liabilities: $3,610,438
- Net Assets: $2,216,938
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESEARCH CONTRACT REVENUE
Revenue
$11,548,833
Organization Details
Founding Year
2009
Phone
(703) 879-8142Principal Officer
Don Maffei
Main Address
900 N GLEBE ROAD 700, ARLINGTON, VA, 22203
Website
www.vt-arc.orgNTEE Category
Code: U05 - Science research
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