Overview
What is West Virginia University Research Corporation?
The West Virginia University Research Corporation, a Morgantown-based nonprofit organization, was established in accordance with West Virginia law in 1985, with the primary objective of fostering and supporting research at West Virginia University (WVU). This charitable, educational, and scientific organization facilitates research missions at the university by acting as a fiscal agent for sponsored projects and maximizing the effectiveness of technology transfer. The Research Corporation's role has contributed significantly to WVU's classification as an R1, doctoral university – highest research activity – by the Carnegie Foundation. In fiscal year 2022, research expenditures totaled $199 million, with $90 million coming from federal agencies. The organization's impressive growth led to an increase in Facilities and Administrative (F&A) costs from $31.7 million to $35.4 million. Notable increases in funding expenditures from primary federal research sponsors include the National Science Foundation, Department of Health and Human Services, and Department of Agriculture. The Research Corporation continues to invest in programs that improve faculty competitiveness and has seen a notable return in new awards.
Official website here: www.research.wvu.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 62%, Two-Star out of Four Star rating
The West Virginia University Research Corporation has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its accountability and financial practices. While the organization boasts a high program expense ratio of 92.76%, reflecting a strong commitment to its mission-related activities, it faces challenges with governance, particularly the lack of independent board members, which raises questions about oversight and transparency.
Moreover, the organization has received mixed scores in its financial policies. It scored well in areas related to audit and oversight, conflict of interest, and whistleblower policies, but it is lacking in critical documentation, such as the absence of a document retention policy and missing tax forms on its website. This gap in transparency may concern potential donors and stakeholders.
In terms of leadership compensation, the salaries of key personnel are quite high, with the director earning over $1.7 million. This significant financial outlay for top executives could attract scrutiny regarding the allocation of resources and overall financial health of the organization. While the West Virginia University Research Corporation demonstrates certain strengths, these issues highlight areas for improvement in governance and financial accountability.
This AI summary has been generated from information found on Charity Navigator.
Is West Virginia University Research Corporation legitimate?
West Virginia University Research Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Virginia University 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $25,883,192
For more financial information, click here
Official website here: www.research.wvu.edu
What is the mission statement of West Virginia University Research Corporation?
The West Virginia University Research Corporation was established in 1985 to support and foster research at West Virginia University. The organization's primary focus is to facilitate research at the university and provide evaluation, development, patenting, management, and marketing services for inventions by the faculty, staff, and students. Research is an integral part of the university's mission, and the research corporation plays a crucial role in achieving this goal by acting as a fiscal agent for sponsored projects. The corporation's unique status enables it to maximize the effectiveness of technology transfer, in addition to its economic and business development functions. With significant research funding, WVU was classified as an R1, doctoral university - highest research activity, by the Carnegie Foundation in fiscal year 2022. Sponsored award expenditures reached $199 million for fiscal year 2022, with $90 million coming from federal agencies. The corporation's investments in enhancing faculty competitiveness through programs have started to yield noticeable returns in terms of new awards. The most effective initiatives include the Program to Stimulate Competitive Research and the internal National Institutes Health (NIH) style study section at the Health Sciences Center, providing scientific review of grant applications prior to external submission to increase competitiveness. Despite the dynamic funding environment, both the university and the research corporation are deploying innovative strategies to expand the quantity and quality of funding for the research enterprise from all sources.
Official website here: www.research.wvu.edu
Who is the CEO of West Virginia University Research Corporation?
Barbara Weiss is the Director of West Virginia University Research Corporation.
Official website here: www.research.wvu.edu
What is the revenue of West Virginia University Research Corporation?
West Virginia University Research Corporation's revenue in 2022 was $154,245,456.
Official website here: www.research.wvu.edu
Who are the executives of West Virginia University Research Corporation and what are their salaries?
The average compensation at West Virginia University Research Corporation during 2022 was $42,571. There are 608 employees at West Virginia University Research Corporation.
Here are 22 key members and their salaries:
- Compensation: $0
- Related: $255,447
- Other: $38,963
- Compensation: $0
- Related: $385,821
- Other: $17,400
- Compensation: $0
- Related: $796,709
- Other: $25,405
- Compensation: $0
- Related: $335,472
- Other: $31,488
- Compensation: $0
- Related: $238,071
- Other: $30,267
- Compensation: $0
- Related: $261,118
- Other: $24,646
- Compensation: $0
- Related: $434,456
- Other: $45,838
- Compensation: $0
- Related: $956,198
- Other: $22,870
- Compensation: $0
- Related: $374,353
- Other: $24,240
- Compensation: $0
- Related: $396,358
- Other: $49,738
- Compensation: $0
- Related: $413,665
- Other: $33,403
- Compensation: $0
- Related: $290,477
- Other: $50,123
- Compensation: $0
- Related: $164,235
- Other: $30,195
- Compensation: $0
- Related: $39,180
- Other: $2,991
- Compensation: $0
- Related: $134,680
- Other: $15,654
- Compensation: $158,781
- Related: $0
- Other: $26,655
- Compensation: $194,601
- Related: $0
- Other: $7,068
- Compensation: $121,035
- Related: $0
- Other: $6,026
- Compensation: $133,030
- Related: $0
- Other: $31,454
- Compensation: $120,078
- Related: $0
- Other: $7,200
- Compensation: $0
- Related: $22,993
- Other: $0
- Compensation: $0
- Related: $60,000
- Other: $0
Official website here: www.research.wvu.edu
Where can I find the form 990 for West Virginia University Research Corporation?
West Virginia University Research Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.research.wvu.edu
Learn more at the official website: www.research.wvu.edu
Mission Statement of West Virginia University Research Corporation
West Virginia University Research Corporation, a charitable organization established in 1985, plays a pivotal role in fostering and supporting research at West Virginia University (WVU). This nonprofit is dedicated to facilitating the research mission of the university through various services. It provides evaluation, development, patents, management, and marketing for inventions created by the faculty, staff, and students of WVU.
The Research Corporation's primary objective is to nurture the research activities at West Virginia University. It operates as a fiscal agent for sponsored projects, helping maximize the effectiveness of technology transfer and contributing to economic and business development. The success of the Research Corporation is evident in WVU's classification as an R1, doctoral university – highest research activity, by the Carnegie Foundation in fiscal year 2022. Sponsored award expenditures reached $199 million for fiscal year 2022, with $90 million coming from federal agencies. Consequently, facilities and administrative costs increased from $31.7 million to $35.4 million.
Furthermore, the Research Corporation has seen growth in funded expenditures from its primary federal research sponsors, such as the National Science Foundation, Department of Health and Human Services, Department of Agriculture, National Aeronautics and Space Administration, and Department of Energy. The implementation of programs by the Research Office, particularly the Program to Stimulate Competitive Research and the internal National Institutes Health (NIH) style Study Section at the Health Sciences Center, has yielded a noticeable return in terms of new grants. Despite a dynamic funding environment, the University and the Research Corporation continue to explore innovative strategies to expand the quantity and quality of funding for the research enterprise.
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Impact
October, 2024
The West Virginia University Research Corporation plays a vital role in fostering and supporting research initiatives at West Virginia University. Established in 1985, it operates to enhance the university's research capabilities, providing essential services such as evaluation, development, patenting, management, and marketing for innovations generated by faculty, staff, and students.
This organization is a key player in the university's mission, acting as a fiscal agent for sponsored projects. Its impact is evident in the significant funding growth, with sponsored award expenditures reaching $199 million in fiscal year 2022, a substantial increase from the previous year. Federal support plays a crucial role, comprising $90 million of this total. The Research Corporation's initiatives, such as programs aimed at increasing faculty competitiveness, have yielded tangible results, boosting the dollar value of new awards and enhancing the likelihood of successful grant submissions.
Additionally, the success in securing federal funding from agencies like the National Science Foundation and the Department of Health and Human Services indicates the university's growing prominence as an R1 doctoral institution, recognized among the nation’s top research institutions. The increase in facilities and administrative costs recovered also reflects the rising efficiency and effectiveness of the research operations managed by the Research Corporation.
Overall, the West Virginia University Research Corporation not only elevates the university's research profile but also contributes significantly to economic development and innovation within the region, positioning WVU as a critical hub for academic and practical advancements in various fields.
This information is meant to be a general summary of West Virginia University 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: $1,313,609
- Program Service Revenue: $19,841,092
- Gross Receipts: $157,814,492
Assets and Liabilities:
- Total Assets: $161,819,057
- Total Liabilities: $121,785,027
- Net Assets: $40,034,030
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SCI RESEARCH & DEV SER
Revenue
$19,841,092
Organization Details
Founding Year
1985
Phone
(304) 293-4008Principal Officer
Barbara Weiss
Main Address
PO BOX 6005 ONE WATERFRONT PLACE, MORGANTOWN, WV, 26506
Website
www.research.wvu.eduNTEE Category
Code: B43I - Education
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