Overview
What is Virginia Commonwealth University Intellectual Property Foundation?
The Virginia Commonwealth University Intellectual Property Foundation, located at 800 E Leigh Street, Richmond, VA 23219, is a nonprofit organization dedicated to fostering innovation at Virginia Commonwealth University (VCU). Their primary mission is to protect and commercialize inventions developed by VCU researchers, benefiting society. During the fiscal year ending June 30, 2022, they processed 122 invention disclosures, filed 144 patent applications, issued 18 patents, and secured 27 licenses, engaging with 10 targeted industries and launching 11 new startups. The foundation's activities not only promote research efforts at the university but also provide economic support. They offer patent and licensing clinics for VCU students, employing approximately one VCU student as an intern or part-time employee.
Official website here: www.research.vcu.edu
Is Virginia Commonwealth University Intellectual Property Foundation legitimate?
Virginia Commonwealth University Intellectual Property Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Commonwealth University Intellectual Property 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: $38,190
For more financial information, click here
Official website here: www.research.vcu.edu
What is the mission statement of Virginia Commonwealth University Intellectual Property Foundation?
The Virginia Commonwealth University Intellectual Property Foundation's mission is centered around fostering a culture of innovation within Virginia Commonwealth University (VCU). Their primary goal is to protect and commercialize inventions created by the VCU research community for the benefit of society. To accomplish this, the foundation assesses the patentability of VCU inventions and obtains patents on them. They then market and license these inventions to commercial entities. The activities of the foundation not only support research efforts at the university but also generate economic support for it. Additionally, the foundation offers patent and licensing clinics for VCU students, providing opportunities for practical experience, with one student often employed as an intern or part-time employee.
Official website here: www.research.vcu.edu
Who is the CEO of Virginia Commonwealth University Intellectual Property Foundation?
Dr Ivelina Metcheva is the President of Virginia Commonwealth University Intellectual Property Foundation.
Official website here: www.research.vcu.edu
What is the revenue of Virginia Commonwealth University Intellectual Property Foundation?
Virginia Commonwealth University Intellectual Property Foundation's revenue in 2022 was $3,452,341.
Official website here: www.research.vcu.edu
Who are the executives of Virginia Commonwealth University Intellectual Property Foundation and what are their salaries?
The average compensation at Virginia Commonwealth University Intellectual Property Foundation during 2022 was $4,243. There are 9 employees at Virginia Commonwealth University Intellectual Property Foundation.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $169,901
- Other: $28,649
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.research.vcu.edu
Where can I find the form 990 for Virginia Commonwealth University Intellectual Property Foundation?
Virginia Commonwealth University Intellectual Property Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.research.vcu.edu
Learn more at the official website: www.research.vcu.edu
Mission Statement of Virginia Commonwealth University Intellectual Property Foundation
The Virginia Commonwealth University Intellectual Property Foundation aims to cultivate a culture of innovation within Virginia Commonwealth University (VCU). Its primary objective is to protect and commercialize inventions conceived by the VCU research community for the betterment of society. The foundation evaluates the patentability of these inventions, securing patents where appropriate. It then markets and licenses these patented inventions to commercial entities, thereby promoting research efforts at the university. The economic gains derived from these royalty payments are channeled back into supporting the university. Furthermore, the foundation offers patent and licensing clinics for VCU students, employing one student as an intern or part-time employee.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Virginia Commonwealth University Intellectual Property Foundation significantly enhances the culture of innovation at Virginia Commonwealth University (VCU) by protecting and commercializing inventions from the university's research endeavors. In the fiscal year ending June 30, 2022, this impact was evidenced by 122 invention disclosures and 144 patent applications filed, resulting in 18 patents issued and 27 licenses granted.
The Foundation bridges the gap between academic research and commercial application, facilitating targeted industry engagements—117 in total—that foster collaborations and drive economic growth. By creating business opportunities, including the establishment of 10 startups, the foundation not only enriches the entrepreneurial ecosystem but also channel resources back to support ongoing research at VCU through generated royalties.
Additionally, the Foundation plays a vital role in education and industry readiness by hosting patent and licensing clinics for students, thereby equipping the next generation of innovators with critical knowledge and experience. The employment of VCU students as interns and part-time employees further integrates educational growth into its mission, ensuring that the benefits of innovation extend not just regionally, but contribute to societal advancement.
This information is meant to be a general summary of Virginia Commonwealth University Intellectual Property 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 2022.
- Investment Income: $34,433
- Program Service Revenue: $3,038,457
- Gross Receipts: $3,452,341
Assets and Liabilities:
- Total Assets: $4,582,975
- Total Liabilities: $652,297
- Net Assets: $3,930,678
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROYALTY/LICENSE FEES
Revenue
$2,823,225
PATENT COST REIMBURSED
Revenue
$215,232
Organization Details
Founding Year
1994
Phone
(804) 828-5188Principal Officer
Dr Ivelina Metcheva
Main Address
800 E LEIGH STREET 3000, RICHMOND, VA, 23219
Website
www.research.vcu.eduNTEE Category
Code: H99Z - Medical research
If you are a representative of Virginia Commonwealth University Intellectual Property Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.