Overview
What is Virginia Tech Intellectual Properties Inc?
Virginia Tech Intellectual Properties Inc, based in Blacksburg, Virginia, is a nonprofit organization with a mission to foster scientific research among faculty, staff, and students at Virginia Polytechnic Institute and State University (Virginia Tech). Their primary role is to manage and market the intellectual properties, such as products and processes, developed by the university's community, protecting these inventions through patents, trademarks, copyrights, or trade secrets. This organization's work aims to benefit Virginia Tech solely, encouraging and promoting research within the university, contributing to its growth and development. The organization is led by a small team of two dedicated individuals.
Official website here: www.vtip.org
Is Virginia Tech Intellectual Properties Inc legitimate?
Virginia Tech Intellectual Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Tech Intellectual Properties Inc 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: $145,760
For more financial information, click here
Official website here: www.vtip.org
What is the mission statement of Virginia Tech Intellectual Properties Inc?
Virginia Tech Intellectual Properties Inc's primary objective is to foster scientific research within Virginia Polytechnic Institute and State University (Virginia Tech). This mission is carried out by encouraging, promoting, and marketing research conducted by the university's faculty, staff, and students. The organization's role extends to managing and marketing all intellectual properties, such as patents, trademarks, copyrights, and trade secrets, developed by these individuals, with the sole aim of benefiting Virginia Tech.
Official website here: www.vtip.org
Who is the CEO of Virginia Tech Intellectual Properties Inc?
Elizabeth A Mcclanahan is the Chair of Virginia Tech Intellectual Properties Inc.
Official website here: www.vtip.org
What is the revenue of Virginia Tech Intellectual Properties Inc?
Virginia Tech Intellectual Properties Inc's revenue in 2022 was $3,370,644.
Official website here: www.vtip.org
Who are the executives of Virginia Tech Intellectual Properties Inc and what are their salaries?
The average compensation at Virginia Tech Intellectual Properties Inc during 2022 was $72,880. There are 2 employees at Virginia Tech Intellectual Properties Inc.
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $425,636
- Other: $58,621
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- Compensation: $0
- Related: $316,025
- Other: $62,644
- Compensation: $0
- Related: $331,795
- Other: $63,710
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.vtip.org
Where can I find the form 990 for Virginia Tech Intellectual Properties Inc?
Virginia Tech Intellectual Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vtip.org
Learn more at the official website: www.vtip.org
Mission Statement of Virginia Tech Intellectual Properties Inc
Virginia Tech Intellectual Properties Inc, with a mission focused solely on Virginia Polytechnic Institute and State University (Virginia Tech), aims to foster and encourage scientific research among its faculty, staff, and students. The organization's primary objective is to promote and market the intellectual properties developed by these individuals, protecting them through patents, trademarks, copyrights, or trade secrets. In essence, Virginia Tech Intellectual Properties Inc serves as a bridge between the innovative ideas and groundbreaking discoveries made within the university and their potential applications in the wider world, all for the benefit of Virginia Tech.
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Impact
October, 2024
Virginia Tech Intellectual Properties Inc. plays a crucial role in fostering innovation and scientific advancement at Virginia Polytechnic Institute and State University (Virginia Tech). By managing and marketing intellectual properties developed by the university's faculty, staff, and students, the organization ensures that valuable research outcomes are protected and commercialized effectively. This enables advancements in various fields, contributes to the university's reputation as a leader in research and development, and ultimately benefits the broader community. The organization’s efforts to promote and encourage scientific research significantly enhance the educational environment at Virginia Tech, creating opportunities for collaboration, funding, and real-world applications of academic work. Through these initiatives, Virginia Tech Intellectual Properties Inc. helps transform innovative ideas into practical solutions, driving both academic excellence and economic growth in Virginia and beyond.
This information is meant to be a general summary of Virginia Tech Intellectual Properties Inc. 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: $18,729
- Program Service Revenue: $2,485,609
- Gross Receipts: $3,370,644
Assets and Liabilities:
- Total Assets: $2,751,745
- Total Liabilities: $1,819,361
- Net Assets: $932,384
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROYALTY REVENUE
Revenue
$1,520,982
REIMBURSEMENT OF PATEN
Revenue
$960,627
TECH FEES
Revenue
$4,000
Organization Details
Founding Year
1985
Phone
(540) 951-9694Principal Officer
Elizabeth A Mcclanahan
Main Address
1311 RESEARCH CENTER DRIVE 2057, BLACKSBURG, VA, 24061
Website
www.vtip.orgNTEE Category
Code: B11 - Education
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