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Virginia Innovation Partnership Corporation

EIN 54-1282820 · Herndon, VA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP.

Income
$33.8 million
Spending
$30.6 million
Spent on programs
78%
Reserves
30.8 months of spending
Largest source of income
government grants, 51%
Employees
51
Volunteers
10
Highest pay
$381,397, cio & vp

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 68% of charities in its peer group (science, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 30.8 months of spending.

  • Debt

    20 of 20

    It owes 15% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 9% of income.

  • Income trend

    0 of 15

    Income fell 29% on the year before.

  • Spending floor

    15 of 15

    78% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 85 out of 100. Higher than 18% of charities in its peer group (science, $10m to $100m).

  • Independent board

    25 of 25

    10 of 10 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $13.4 million spent. VIRGINIA VENTURE PARTNERS (VVP) FOCUSES ON DIRECT INVESTMENT, PLACING EQUITY INVESTMENTS IN EARLY-STAGE SCIENCE AND TECHNOLOGY-BASED COMPANIES THROUGH A FAMILY OF FUNDS SPANNING MULTIPLE GENERATIONS OF TECH, LIFE SCIENCE, AND CLEAN ENERGY THESES. SINCE THE PROGRAM'S INCEPTION IN 2005, THE VVP PROGRAM HAS INVESTED $71M IN 330 SEED AND EARLY STAGE TECHNOLOGY, LIFE SCIENCE, AND ENERGY COMPANIES ACROSS THE COMMONWEALTH. VVP INVESTMENTS HAVE ATTRACTED IN $2.6B IN PRIVATE CAPITAL. PROGRAM SERVICE REVENUE CONSISTS OF PROCEEDS ON LIQUIDATED INVESTMENTS. ADDITIONALLY, FUNDING FROM THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) PROGRAM, UNDER THE U.S. DEPARTMENT OF THE TREASURY, WAS PROVIDED TO ACCELERATE THE FORMATION AND GROWTH OF ENTREPRENEURIAL BUSINESSES ACROSS THE COMMONWEALTH OF VIRGINIA. APPROXIMATELY $173M OF SSBCI FUNDING WILL BE ALLOCATION TO VIPC OVER 10 YEARS, VIPC RECEIVED $36.2M IN FUNDS IN FY2024 AND FY2025 (THE FIRST TWO YEARS OF THE PROGRAM FOR VIPC).
  2. $4.4 million spent. THE COMMONWEALTH COMMERCIALIZATION FUND (CCF) DRIVES ECONOMIC GROWTH BY PROVIDING PRIVATE SECTOR AND HIGHER EDUCATION AND EMINENT RESEARCHER RECRUITMENT AND RETENTION GRANT FUNDING FOR INNOVATIVE TECHNOLOGY RESEARCH, DEVELOPMENT, AND COMMERCIALIZATION IN VIRGINIA. IN TOTAL, MORE THAN $64M HAS BEEN AWARDED TO 716 PROJECTS. SINCE THE PROGRAM'S INCEPTION, AWARDEES HAVE REPORTED MORE THAN $1.9B IN FOLLOW-ON FUNDING AND MORE THAN $227M IN GENERATED REVENUE.
  3. $2.7 million spent. UNDER VIPC'S CONTRACT WITH THE US DEPARTMENT OF HOMELAND SECURITY SCIENCE AND TECHNOLOGY DIRECTORATE IS THE COMMERCIAL FIRST INNOVATION PROGRAM. KEY PRIORITIES INCLUDE COUNTER-UNMANNED SYSTEMS MITIGATION, DETECTION OF ENVIRONMENTAL THREATS, AND OTHER PUBLIC SAFETY-RELATED TECHNOLOGIES. STRATEGIC INITIATIVE EFFORTS HAS STRATEGICALLY POSITIONED THE COMMONWEALTH OF VIRGINIA TO ASSUME A NATIONAL LEADERSHIP ROLE IN AEROSPACE & DEFENSE (A&D), PUBLIC SAFETY, AND PUBLIC PRIVATE SECTOR DATA GOVERNANCE AND RISK MITIGATION AS NEW OPPORTUNITIES AND CHALLENGES EVOLVE. OTHER PROGRAM INITIATIVES INCLUDE: SMART COMMUNITIES, PARTNERSHIPS WITH OTHER COMMONWEALTH AGENCIES, AND THE PUBLIC SAFETY INNOVATION CENTER.
  4. $3.5 million spent. DESCRIPTION: OTHER PROGRAM SERVICES1. ENTREPRENEURIAL ECOSYSTEMS2. UNMANNED SYSTEMS3. FEDERAL FUNDING ASSISTANCE PROGRAM

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 1984.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.