Overview
What is Virginia Biotechnology Research Park Activation Capital?
Virginia Biotechnology Research Park Activation Capital, based in Richmond, Virginia, serves as a pivotal entity for the local innovation ecosystem. As an anchor in the knowledge-based community, it offers leadership and vision, embracing risk-taking and sharing credit for success. Specifically, Activation Capital supports Lighthouse Labs' Regional Acceleration Program and hosts the SCOREboard Business Model Competition, fostering entrepreneurship and innovation within the region.
Official website here: www.vabiotech.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating.
Virginia Biotechnology Research Park Activation Capital has received a rating of 71% from Charity Navigator, which classifies it with a Two-Star rating. This indicates that while the organization demonstrates some strengths in financial accountability and transparency, there are key areas for improvement, particularly in governance policies and financial management practices.
The nonprofit boasts a fully independent board and high scores for its financial statements and material asset diversion, reflecting good practices in oversight and resource allocation. Additionally, it shows a strong commitment to program expenses, with an impressive program expense ratio of 91.63%, suggesting that a significant portion of its funds is directed towards its mission.
However, the organization faces criticism for lacking essential governance policies, such as a conflict of interest policy, a whistleblower policy, and a document retention policy. Moreover, its liabilities to assets ratio is relatively high at 67.17%, which may indicate potential financial vulnerability. Addressing these limitations could enhance its credibility and overall performance in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Biotechnology Research Park Activation Capital legitimate?
Virginia Biotechnology Research Park Activation Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Biotechnology Research Park Activation Capital 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: $465,929
For more financial information, click here
Official website here: www.vabiotech.com
What is the mission statement of Virginia Biotechnology Research Park Activation Capital?
The Virginia Biotechnology Research Park Activation Council, serving as a pillar for the knowledge-based community, provides leadership and vision to the Richmond regional innovation ecosystem. This organization is committed to fostering an environment that encourages invention, takes calculated risks, and openly shares credit for success. In this role, they support programs such as Lighthouse Labs' regional acceleration program and host business model competitions, contributing to the advancement of innovation within the ecosystem.
Official website here: www.vabiotech.com
Who is the CEO of Virginia Biotechnology Research Park Activation Capital?
Chandra Briggman is the Ceo of Virginia Biotechnology Research Park Activation Capital. The CEO's salary of Virginia Biotechnology Research Park Activation Capital is $0 and their total compensation is $0.
Official website here: www.vabiotech.com
What is the revenue of Virginia Biotechnology Research Park Activation Capital?
Virginia Biotechnology Research Park Activation Capital's revenue in 2022 was $1,876,994.
Official website here: www.vabiotech.com
Who are the executives of Virginia Biotechnology Research Park Activation Capital and what are their salaries?
There 60 volunteers at Virginia Biotechnology Research Park Activation Capital.
Here are 20 key members and their salaries (Virginia Biotechnology Research Park Activation Capital's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $139,828
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Official website here: www.vabiotech.com
Where can I find the form 990 for Virginia Biotechnology Research Park Activation Capital?
Virginia Biotechnology Research Park Activation Capital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vabiotech.com
Learn more at the official website: www.vabiotech.com
Mission Statement of Virginia Biotechnology Research Park Activation Capital
Virginia Biotechnology Research Park Activation Council, serving as the anchor for the knowledge-based community, provides leadership and vision to the Richmond regional innovation ecosystem. With a willingness to invent, take risks, and share credit for success, this organization plays a pivotal role in fostering innovation. To accomplish this mission, Virginia Biotechnology Research Park Activation Council supports initiatives such as Lighthouse Labs Regional Acceleration Program and hosts events like the Scoreboard Business Model Competition. These activities allow the organization to contribute significantly to the growth and development of the regional innovation ecosystem.
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Impact
July, 2024
The impact of Virginia Biotechnology Research Park Activation Capital is evident in its support and promotion of the Richmond regional innovation ecosystem. By providing leadership, vision, and a willingness to take risks, this organization plays a crucial role in fostering a knowledge-based community in the area. Through initiatives like the Lighthouse Labs regional acceleration program and hosting the Scoreboard Business Model Competition, Virginia Biotechnology Research Park Activation Capital actively contributes to the growth and development of local businesses and entrepreneurs. Their commitment to sharing credit for success further underscores their dedication to community improvement and advancement.
This information is meant to be a general summary of Virginia Biotechnology Research Park Activation Capital. 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.
- Gross Receipts: $1,876,994
Assets and Liabilities:
- Total Assets: $1,634,872
- Total Liabilities: $314,828
- Net Assets: $1,320,044
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Organization Details
Founding Year
1992
Phone
(804) 828-0963Principal Officer
Chandra Briggman
Main Address
800 EAST LEIGH STREET, RICHMOND, VA, 23219
Website
www.vabiotech.comNTEE Category
Code: S41Z - Community improvement
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