Nonprofit · EIN 54-1282820
VIRGINIA INNOVATION PARTNERSHIP CORPORATION
Tax-exempt · HERNDON, VA 20170
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $33,814,047 | $30,649,296 | $3,164,751 | $92,536,838 | $13,817,310 | $78,719,528 |
| June 30, 2024 | 990 | $47,361,433 | $39,383,995 | $7,977,438 | $79,950,256 | $4,497,266 | $75,452,990 |
| June 30, 2023 | 990 | $34,793,623 | $38,026,082 | -$3,232,459 | $85,819,315 | $15,911,707 | $69,907,608 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $17,184,914
- of which government grants
- $17,136,414
- Program service revenue
- $12,713,216
- Investment income
- $3,896,771
- Other revenue
- $19,146
Expenses
- Grants and similar amounts paid
- $5,319,096
- Compensation of officers, directors and key employees
- $1,848,018
- Other salaries and wages
- $4,682,667
- Salaries, compensation and benefits (total)
- $8,329,638
- Professional fundraising fees
- $0
- Legal fees
- $162,111
- Accounting fees
- $99,373
- Occupancy
- $359,963
- Travel
- $59,509
- Program services (functional)
- $23,988,052
- Management and general (functional)
- $6,661,244
Balance sheet and other
- Total assets, start of year
- $79,950,256
- Total assets, end of year
- $92,536,838
- Total liabilities, end of year
- $13,817,310
- Net assets, end of year
- $78,719,528
- Land, buildings and equipment
- $68,788
- Net assets without donor restrictions
- $78,719,528
- Gross receipts
- $33,814,047
- Employees
- 51
- Volunteers
- 10
- Year formed
- 1984
- 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 | Other / benefits |
|---|---|---|---|---|
| TOM WEITHMAN | CIO & VP Key employee | 40 | $310,716 | $70,681 |
| JOE BENEVENTO | PRESIDENT & CEO Officer | 40 | $329,053 | $49,234 |
| DAVE IHRIE | CHIEF TECH OFFICER Key employee | 40 | $279,163 | $56,142 |
| MARCO RUBIN | SENIOR DIRECTOR, INVESTMENT Highest-paid employee | 40 | $221,531 | $49,383 |
| BOB STOLLE | FORMER PRESIDENT & CEO Former | 40 | $257,703 | $0 |
| CONAWAY HASKINS | VP, ENTREPRENUERIAL Key employee | 40 | $190,908 | $56,411 |
| ANGELA COSTELLO | VP, MARKETING Highest-paid employee | 40 | $191,306 | $45,815 |
| ALEX EULER | SENIOR DIRECTOR, INVESTMENT Highest-paid employee | 40 | $190,720 | $45,795 |
| JEN O'DANIEL | SENIOR DIRECTOR, INVESTMENT Highest-paid employee | 40 | $190,391 | $35,205 |
| SEAN MALLON | VP, COMMERCIALIZATION THRU 09/15/24 Key employee | 40 | $180,956 | $44,389 |
| KRISTAL PARKER | CHRO Highest-paid employee | 40 | $166,399 | $42,767 |
| LESLIE WILLIAMS | CHIEF ADMINISTRATIVE OFFICER Officer | 40 | $166,935 | $32,357 |
| ROB QUARTEL | DIRECTOR Trustee or director | 1 | $2,200 | $0 |
| RITA ROY | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RICHARD HALL | DIRECTOR Trustee or director | 2 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHRIS LONG | DIRECTOR Trustee or director | 1 | $0 |
| KELLEY POWELL WILLIAMSON | DIRECTOR Trustee or director | 1 | $0 |
| LINDSAY WINTER | DIRECTOR Trustee or director | 1 | $0 |
| SHASHIKANT GUPTA | DIRECTOR Trustee or director | 1 | $0 |
| MARILYN PERKINS | DIRECTOR AS OF 07/01/24 Trustee or director, Officer | 1 | $0 |
| MARK BISHOF | DIRECTOR AS OF 07/01/24 Trustee or director | 1 | $0 |
| THE HONORABLE CAREN MERRICK | VICE CHAIR THRU 04/09/25 Trustee or director, Officer | 1 | $0 |
| THE HONORABLE JUAN PABLO SEGURA | VICE CHAIR FROM 04/10/25 Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TOM WEITMAN | CIO & VP Key employee | 40 | $305,775 | $70,052 |
| BOB STOLLE | PRESIDENT & CEO THRU 11/2023 Officer | 40 | $278,037 | $54,098 |
| DAVE IHRIE | CHIEF TECH OFFICER Key employee | 40 | $274,748 | $55,588 |
| SUSAN AITCHESON | CFO TO 2/2024 Officer | 40 | $270,100 | $44,615 |
| SEAN MALLON | VP COMMERCIALIZATION Key employee | 40 | $224,373 | $49,765 |
| MARCO RUBIN | DIR INVESTMENT SVCS Highest-paid employee | 40 | $218,018 | $48,937 |
| ANGELA COSTELLO | VP MARKETING Highest-paid employee | 40 | $188,268 | $56,010 |
| CONAWAY HASKINS | VP ENTREPRENUERIAL Highest-paid employee | 40 | $187,670 | $56,010 |
| ALEX EULER | DIR INVESTMENT SVCS Highest-paid employee | 40 | $186,277 | $45,259 |
| JEN O'DANIEL | DIR INVESTMENT SVCS Highest-paid employee | 40 | $188,357 | $34,829 |
| RITA ROY | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| BARBARA BOYAN | CHAIR THRU 12/2023 , DIRECTOR Trustee or director, Officer | 2 | $0 | $0 |
| MONIQUE ADAMS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SHASHIKANT GUPTA | DIRECTOR FROM 5/2024 Trustee or director | 1 | $0 | $0 |
| RICHARD HALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS LONG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROB QUARTEL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KELLEY POWELL WILLIAMSON | DIRECTOR FROM 8/2023 Trustee or director | 1 | $0 | $0 |
| LINDSAY WINTER | DIRECTOR FROM 8/2023 Trustee or director | 1 | $0 | $0 |
| THE HONORABLE CAREN MERRICK | VICE CHAIR Officer | 1 | $0 | $0 |
| JOE BENVENTO | PRESIDENT & CEO FROM 4/2024 Officer | 40 | $0 | $0 |
990 for the year ended June 30, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BOB STOLLE | PRESIDENT & Officer | 40 | $303,313 | $57,876 |
| TOM WEITHMAN | CIO & VP Key employee | 40 | $285,924 | $66,002 |
| DAVE IHRIE | CHIEF TECH O Key employee | 40 | $257,009 | $52,320 |
| SUSAN AITCHESON | CFO Officer | 40 | $243,440 | $40,798 |
| MARCO RUBIN | DIR, INVESTM Highest-paid employee | 40 | $205,650 | $50,283 |
| SEAN MALLON | VP COMMERCIA Key employee | 40 | $209,608 | $36,797 |
| CONAWAY HASKINS | VP, ENTREPRE Highest-paid employee | 40 | $180,920 | $53,532 |
| ANGELA COSTELLO | VP, COMM & M Highest-paid employee | 40 | $181,518 | $43,476 |
| ALEX EULER | DIR, INVESTM Highest-paid employee | 40 | $162,253 | $41,236 |
| JEN O'DANIEL | DIR, INVESTM Highest-paid employee | 40 | $170,551 | $32,194 |
| MONIQUE ADAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BARBARA BOYAN | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RICHARD HALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREW KO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS LONG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HONORABLE CAREN MERRICK | VICE CHAIR Trustee or director | 1 | $0 | $0 |
| ROB QUARTEL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAULA SORRELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2214 ROCK HILL RD STE 600, HERNDON, VA 20170-4228
- Principal officer (990 for 2024)
- JOE BENEVENTO, 2214 ROCK HILL ROAD 600, HERNDON, VA 20170
- Signed the 990
- LESLIE WILLIAMS, CHIEF ADMINISTRATIVE OFFICER
- Phone
- (703) 689-3035
- Website
- WWW.VIRGINIAIPC.ORG
- Return prepared by
- CHERRY BEKAERT ADVISORY LLC
Mission
VIPC GROWS AND DIVERSIFIES VIRGINIA'S ECONOMY BY INVESTING IN AND ACCELERATING INNOVATION COMMERCIALIZATION AND ENTREPRENEURSHIP.
Program accomplishments
- 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).Expenses $13,404,628 · revenue $9,276,815
- 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.Expenses $4,405,562 · grants $3,946,096
- 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.Expenses $2,684,163 · revenue $2,039,477
- DESCRIPTION: OTHER PROGRAM SERVICES1. ENTREPRENEURIAL ECOSYSTEMS2. UNMANNED SYSTEMS3. FEDERAL FUNDING ASSISTANCE PROGRAMExpenses $3,493,699 · grants $1,373,000 · revenue $1,396,924
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
- 54-1282820
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1984
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U41Z)
- Assets (IRS master file)
- $92,536,838
- Income (IRS master file)
- $33,814,047
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $33,814,047 | $30,649,296 | $92,536,838 | IRS |
| 990 | June 2024 | $47,361,433 | $39,383,995 | $79,950,256 | IRS |
| 990 | June 2023 | $34,793,623 | $38,026,082 | $85,819,315 | XML |
| 990 | June 2022 | $22,793,161 | $25,978,938 | $75,363,860 | IRS |
| 990 | June 2021 | – | – | – | 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 54-1282820).
Questions about VIRGINIA INNOVATION PARTNERSHIP CORPORATION
- What is the EIN of VIRGINIA INNOVATION PARTNERSHIP CORPORATION?
- The employer identification number (EIN) of VIRGINIA INNOVATION PARTNERSHIP CORPORATION is 54-1282820.
- Is VIRGINIA INNOVATION PARTNERSHIP CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to VIRGINIA INNOVATION PARTNERSHIP CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VIRGINIA INNOVATION PARTNERSHIP CORPORATION 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 VIRGINIA INNOVATION PARTNERSHIP CORPORATION 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 VIRGINIA INNOVATION PARTNERSHIP CORPORATION 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 VIRGINIA INNOVATION PARTNERSHIP CORPORATION?
- The 990 for the year ended June 30, 2025 names JOE BENEVENTO.
- Who are the officers and directors of VIRGINIA INNOVATION PARTNERSHIP CORPORATION?
- The 990 for the year ended June 30, 2025 lists 23 people; 13 received compensation from the organization, the highest $310,716 (TOM WEITHMAN, CIO & VP).
- How much revenue does VIRGINIA INNOVATION PARTNERSHIP CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $33,814,047, expenses of $30,649,296 and total assets of $92,536,838 at year end.
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All nonprofits in HERNDON · Virginia · Science and technology