Overview
What is Virginia State University Research Foundation?
Virginia State University Research Foundation (VSURF) is a nonprofit entity affiliated with Virginia State University, located in Petersburg, Virginia. Its primary role is to facilitate the university's objectives in research, public service, economic, and technological development. VSURF embodies an entrepreneurial spirit, particularly focusing on engineering, science, and technology to generate innovative ideas, methods, and opportunities. The foundation offers services in Intellectual Property management, Technology Transfer, and Commercialization, as well as supports the Office of Sponsored Research & Programs. VSURF aims to advance the university's goals and contribute to its growth within these sectors.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54%, One-Star out of Four Star Rating
The Virginia State University Research Foundation has received a One-Star rating from Charity Navigator, indicating concerns over its financial health and accountability. With an overall score of 54%, the organization demonstrates strong governance practices, including a fully independent board and established policies for conflict of interest, whistleblowing, and document retention. These factors contribute positively to its accountability metrics.
However, the foundation's financial metrics reveal significant weaknesses, particularly with a program expense ratio of only 31.41%, suggesting that a low percentage of its expenses are directed toward its programs. Additionally, the liabilities to assets ratio is at a concerning 0.17%, which negatively impacts its financial score. Despite strong governance, these financial issues raise red flags about the foundation's operational effectiveness and ability to fulfill its mission.
In summary, while the Virginia State University Research Foundation exhibits commendable governance standards, the financial challenges it faces may hinder its overall impact and sustainability. Potential donors and stakeholders should consider these aspects when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia State University Research Foundation legitimate?
Virginia State University Research Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia State University Research Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Virginia State University Research Foundation?
The Virginia State University Research Foundation (VSURF) is dedicated to supporting the university's objectives in research, public service, economic, and technological development. Acting as a representative of the university, VSURF embodies an entrepreneurial spirit and focuses on the practical applications of engineering, science, and technology. This foundation aims to foster new ideas, methods, and opportunities by providing services related to Intellectual Property management, Technology Transfer and Commercialization, and the Office of Sponsored Research & Programs. In essence, VSURF plays a crucial role in advancing the university's initiatives in these areas.
Who is the CEO of Virginia State University Research Foundation?
Dawit Haile is the Chairman of Virginia State University Research Foundation.
What is the revenue of Virginia State University Research Foundation?
Virginia State University Research Foundation's revenue in 2023 was $92,000.
Who are the executives of Virginia State University Research Foundation and what are their salaries?
Here are 8 key members and their salaries:
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- Other: $403,186
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- Other: $262,499
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- Other: $223,097
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- Other: $222,232
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- Other: $197,209
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- Other: $118,663
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- Other: $93,437
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- Other: $0
Where can I find the form 990 for Virginia State University Research Foundation?
Virginia State University Research Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Virginia State University Research Foundation
Virginia State University Research Foundation (VSURF) is dedicated to upholding the research, public service, economic, and technological development objectives of Virginia State University. Acting as a representative of the university, VSURF embodies the same entrepreneurial spirit and focuses on utilizing engineering, science, and technology to create novel ideas, methods, and opportunities. In its role, VSURF offers various services related to Intellectual Property management, Technology Transfer and Commercialization, and the Office of Sponsored Research & Programs. By doing so, VSURF supports the University in achieving its goals and fosters innovation and growth in the fields of engineering, science, and technology.
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Impact
October, 2024
Virginia State University Research Foundation (VSURF) significantly enhances the research and development landscape of Virginia State University by promoting innovation and entrepreneurship. It plays a crucial role in advancing public service, economic development, and technological progress, aligning with the university's broader objectives.
VSURF provides vital services in Intellectual Property management, facilitating the protection and commercialization of new inventions and research outcomes. Through its Technology Transfer initiatives, the foundation acts as a bridge between academic research and practical applications, helping to translate scientific advancements into marketable solutions.
Moreover, the foundation supports the Office of Sponsored Research & Programs, which fosters collaborations and secures funding opportunities for research initiatives. This strategic focus not only amplifies the university's research capabilities but also contributes to the regional economy by nurturing startups and enhancing workforce development.
Overall, VSURF embodies a commitment to leveraging engineering, science, and technology to generate innovative ideas and methodologies, making it a pivotal institution for fostering growth and progress in various sectors.
This information is meant to be a general summary of Virginia State University Research Foundation. 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 2023.
- Gross Receipts: $92,000
Assets and Liabilities:
- Total Assets: $967,471
- Total Liabilities: $1,667
- Net Assets: $965,804
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Organization Details
Founding Year
2012
Phone
(804) 524-1091Principal Officer
Dawit Haile
Main Address
1 Hayden Street, Petersburg, VA, 23806
NTEE Category
Code: B11 - Education
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