Nonprofit · EIN 54-1045487
UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP
Also known as UVA PATENT FOUNDATION
Tax-exempt · CHARLOTTESVLE, VA 22903
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $11,383,590 | $11,420,744 | -$37,154 | $19,864,383 | $18,275,994 | $1,588,389 |
| June 30, 2024 | 990 | $9,961,448 | $9,957,478 | $3,970 | $19,043,316 | $17,534,090 | $1,509,226 |
| June 30, 2023 | 990 | $9,568,923 | $9,563,970 | $4,953 | $19,920,463 | $18,415,207 | $1,505,256 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $11,350,613
- Investment income
- $10,408
- Other revenue
- $22,569
Expenses
- Grants and similar amounts paid
- $2,502,067
- Compensation of officers, directors and key employees
- $938,378
- Other salaries and wages
- $1,566,068
- Salaries, compensation and benefits (total)
- $3,050,939
- Professional fundraising fees
- $0
- Legal fees
- $81,785
- Accounting fees
- $78,075
- Occupancy
- $277,603
- Depreciation
- $32,740
- Program services (functional)
- $10,073,488
- Management and general (functional)
- $1,347,256
Balance sheet and other
- Total assets, start of year
- $19,043,316
- Total assets, end of year
- $19,864,383
- Total liabilities, end of year
- $18,275,994
- Net assets, end of year
- $1,588,389
- Land, buildings and equipment
- $141,413
- Net assets without donor restrictions
- $1,588,389
- Gross receipts
- $11,489,109
- Employees
- 18
- Volunteers
- 6
- Year formed
- 1978
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL LENOX | DIRECTOR Trustee or director | 1 | $0 | $633,313 | $104,586 |
| JENNIFER WEST | DIRECTOR Trustee or director | 1 | $0 | $542,909 | $115,526 |
| JEFFREY MARTENS | DIRECTOR Trustee or director | 1 | $0 | $410,546 | $58,877 |
| RICHARD CHYLLA | EXECUTIVE DIRECTOR Officer | 40 | $405,833 | $0 | $61,241 |
| LORI MCMAHON | DIRECTOR Trustee or director | 1 | $0 | $365,695 | $46,968 |
| ROBERT CREEDEN | DIRECTOR OF UVA LVG SEED FUND Highest-paid employee | 40 | $257,081 | $0 | $45,031 |
| ROBERT DECKER | BOARD SECRETARY, SENIOR PATENT COUNSEL Officer | 40 | $235,952 | $0 | $46,889 |
| JILL SIMANDL | DIRECTOR OF FINANCE AND OPERATIONS Officer | 40 | $170,167 | $0 | $36,178 |
| JOSHUA MAULDIN | DIRECTOR OF LICENSING Highest-paid employee | 40 | $164,147 | $0 | $39,352 |
| JONATHAN RUDD | LICENSING MANAGER Highest-paid employee | 40 | $112,762 | $0 | $23,912 |
| CORTNEY MUSHILL | LICENSING MANAGER Highest-paid employee | 40 | $105,469 | $0 | $28,340 |
| FRED EPSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PETER GRANT II | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ERIK HEWLETT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN LAZO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAUL MICHEL | DIRECTOR Trustee or director | 1 | $0 |
| RONALD NEWBOLD | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| RICHARD TADLER | DIRECTOR Trustee or director | 1 | $0 |
| KWAME ULMER | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2024: 18 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MELUR RAMASUBRAMANIAN | DIRECTOR Trustee or director | 1 | $0 | $1,016,900 | $63,204 |
| MICHAEL LENOX | DIRECTOR Trustee or director | 1 | $0 | $570,490 | $77,089 |
| JENNIFER WEST | DIRECTOR Trustee or director | 1 | $0 | $508,401 | $107,480 |
| RICHARD CHYLLA | EXECUTIVE DIRECTOR Officer | 40 | $398,602 | $0 | $61,082 |
| FRED EPSTEIN | DIRECTOR Trustee or director | 1 | $0 | $330,263 | $56,015 |
| JEFFREY MARTENS | DIRECTOR Trustee or director | 1 | $0 | $269,948 | $36,697 |
| ROBERT DECKER | SENIOR PATENT COUNSEL / SECRETARY Officer | 40 | $238,261 | $0 | $52,646 |
| ROBERT CREEDEN | DIRECTOR OF UVA LVG SEED FUND Highest-paid employee | 40 | $248,761 | $0 | $38,539 |
| JILL SIMANDL | DIRECTOR OF FINANCE AND OPERATIONS Officer | 40 | $170,018 | $0 | $35,851 |
| JOSHUA MAULDIN | DIRECTOR OF LICENSING Highest-paid employee | 40 | $163,282 | $0 | $38,962 |
| PETER GRANT II | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ERIK HEWLETT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN LAZO | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LORI MCMAHON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PAUL MICHEL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RONALD NEWBOLD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RICHARD TADLER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KWAME ULMER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 15 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL LENOX | DIRECTOR Trustee or director | 1 | $0 | $533,068 | $70,554 |
| JENNIFER WEST | DIRECTOR Trustee or director | 1 | $0 | $485,162 | $101,925 |
| MELUR RAMASUBRAMANIAN | DIRECTOR Trustee or director | 1 | $0 | $443,435 | $58,705 |
| RICHARD CHYLLA | EXECUTIVE DIRECTOR Officer | 40 | $354,348 | $0 | $37,553 |
| ROBERT CREEDEN | DIRECTOR OF UVA LVG SEED FUND & NEW VENTURES Highest-paid employee | 40 | $241,009 | $0 | $47,075 |
| ROBERT DECKER | SENIOR PATENT COUNSEL Highest-paid employee | 40 | $210,886 | $0 | $52,610 |
| JOSHUA MAULDIN | DIRECTOR OF LICENSING Highest-paid employee | 40 | $147,255 | $0 | $36,107 |
| JILL SIMANDL | DIRECTOR OF FINANCE Officer | 40 | $110,154 | $0 | $14,423 |
| PETER GRANT II | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ERIK HEWLETT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN LAZO | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOHN MACFARLANE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PAUL MICHEL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RONALD NEWBOLD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KWAME ULMER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 722 PRESTON AVE STE 107, CHARLOTTESVLE, VA 22903-4400
- In care of
- % MICHAEL STRAIGHTIFF
- Principal officer (990 for 2024)
- RICHARD CHYLLA, 722 PRESTON AVENUE 107, CHARLOTTESVILLE, VA 22903
- Signed the 990
- RICHARD CHYLLA, EXECUTIVE DIRECTOR
- Phone
- (434) 924-2175
- Website
- LVG.VIRGINIA.EDU
- Return prepared by
- HANTZMON WIEBEL LLP
Mission
THE UVA LICENSING AND VENTURES GROUP IS DEDICATED TO GROWING AND GUIDING UNIVERSITY INNOVATIONS WHILE IMPROVING LIVES ON GROUNDS AND AROUND THE WORLD.
Program accomplishments
- PATENTING: THE PATENTING DEPARTMENT PREPARES AND FILES PATENT APPLICATIONS. DURING THE FISCAL YEAR ENDED 2025, THE UNIVERSITY OF VIRGINIA PATENT FOUNDATION D/B/A UNIVERSITY OF VIRGINIA LICENSING AND VENTURES GROUP (LVG OR THE FOUNDATION) WAS AWARDED 47 U.S. PATENTS.Expenses $3,667,333 · revenue $4,617,297
- LICENSING: THE LICENSING DEPARTMENT EVALUATES, MARKETS, AND LICENSES INVENTIONS. DURING THE FISCAL YEAR ENDED 2025, LVG SOLICITED 168 INVENTION DISCLOSURES FROM UVA FACULTY, STAFF, AND STUDENT INVENTORS AND EXECUTED 91 COMMERCIAL TRANSACTIONS.Expenses $5,251,801 · grants $2,502,067 · revenue $6,755,885
- NEW VENTURES: UVA LVG PROVIDES RESOURCES AND EXPERTISE TO SUPPORT THE ENTREPRENEURIAL AND INVESTMENT PROCESS. DURING THE FISCAL YEAR ENDED 2025, LVG HELPED LAUNCH 8 NEW VENTURES. ADDITIONALLY, LVG MANAGES AN INNOVATION FUND, WHICH IS COMPRISED OF SEED FUNDING AND VENTURE FUNDING, IN COLLABORATION WITH THE UNIVERSITY OF VIRGINIA AND THE UNIVERSITY OF VIRGINIA HEALTH SYSTEM.Expenses $1,136,898
- OTHER PROGRAM SERVICES: LVG PROVIDES A VARIETY OF OTHER PROGRAMS, GENERALLY AT THE REQUEST OF UVA.Expenses $17,456
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1045487
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1977
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B110)
- Assets (IRS master file)
- $19,864,383
- Income (IRS master file)
- $11,489,109
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $11,383,590 | $11,420,744 | $19,864,383 | XML |
| 990 | June 2024 | $9,961,448 | $9,957,478 | $19,043,316 | XML |
| 990 | June 2023 | $9,568,923 | $9,563,970 | $19,920,463 | XML |
| 990 | June 2022 | $9,580,641 | $9,540,273 | $21,114,215 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-1045487).
Questions about UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP
- What is the EIN of UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP?
- The employer identification number (EIN) of UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP is 54-1045487.
- Is UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1977.
- Are donations to UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP?
- The 990 for the year ended June 30, 2025 names RICHARD CHYLLA.
- Who are the officers and directors of UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP?
- The 990 for the year ended June 30, 2025 lists 19 people; 7 received compensation from the organization.
- How much revenue does UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $11,383,590, expenses of $11,420,744 and total assets of $19,864,383 at year end.
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