Nonprofit · EIN 54-1323858
VTIP INC
Tax-exempt · BLACKSBURG, VA 24060
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $4,025,789 | $3,927,089 | $98,700 | $3,905,652 | $1,683,643 | $2,222,009 |
| June 30, 2024 | 990 | $4,589,538 | $3,953,402 | $636,136 | $4,046,203 | $1,938,546 | $2,107,657 |
| June 30, 2023 | 990 | $3,898,747 | $3,436,633 | $462,114 | $3,574,255 | $2,118,791 | $1,455,464 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $935,908
- Program service revenue
- $3,029,850
- Investment income
- $60,031
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $935,908
- Other salaries and wages
- $202,166
- Salaries, compensation and benefits (total)
- $254,173
- Professional fundraising fees
- $0
- Legal fees
- $24,542
- Accounting fees
- $63,083
- Occupancy
- $11,444
- Depreciation
- $1,417
- Program services (functional)
- $3,302,707
- Management and general (functional)
- $624,382
Balance sheet and other
- Total assets, start of year
- $4,046,203
- Total assets, end of year
- $3,905,652
- Total liabilities, end of year
- $1,683,643
- Net assets, end of year
- $2,222,009
- Land, buildings and equipment
- $2,322
- Net assets without donor restrictions
- $2,222,009
- Gross receipts
- $4,025,789
- Employees
- 4
- Volunteers
- 0
- Year formed
- 1985
- 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 |
|---|---|---|---|---|---|
| DR X J MENG | DIRECTOR Trustee or director | 1 | $0 | $397,194 | $71,995 |
| DR BRANDY SALMON | DIRECTOR Trustee or director, Officer | 1 | $0 | $333,259 | $72,911 |
| SIMON ALLEN | DIRECTOR Trustee or director, Officer | 1 | $0 | $315,046 | $43,216 |
| GRANT BREWER | DIRECTOR Trustee or director, Officer | 1 | $0 | $194,387 | $46,459 |
| DR DANIEL SUI | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JUSTICE ELIZABETH A MCCLANAHAN | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ROBERT BERTIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NELSON CHU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN NEWBY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR JENNIFER REYNOLDS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 13 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR DANIEL SUI | CHAIR Trustee or director, Officer | 1 | $0 | $474,123 | $60,796 |
| KEN MILLER | DIRECTOR Trustee or director | 1 | $0 | $376,127 | $71,292 |
| DR X J MENG | DIRECTOR Trustee or director | 1 | $0 | $361,973 | $68,231 |
| BRANDY SALMON | PRESIDENT Officer | 1 | $0 | $280,684 | $44,463 |
| JUSTICE ELIZABETH A MCCLANAHAN | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DR BRETT MALONE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JAMES RAMEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ARTHUR SPIVY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT BERTIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR VINOD CHACHRA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NELSON CHU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN NEWBY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR JENNIFER REYNOLDS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR DANIEL SUI | CHAIR Trustee or director, Officer | 1 | $0 | $450,003 | $57,683 |
| DR X J MENG | DIRECTOR Trustee or director | 1 | $0 | $387,919 | $69,991 |
| KEN MILLER | DIRECTOR Trustee or director | 1 | $0 | $358,623 | $67,650 |
| JUSTICE ELIZABETH A MCCLANAHAN | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DR BRETT MALONE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JAMES RAMEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ARTHUR SPIVY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT BERTIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR VINOD CHACHRA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NELSON CHU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN NEWBY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR JENNIFER REYNOLDS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRANDY SALMON | PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1311 RESEARCH CENTER DR STE 2057, BLACKSBURG, VA 24060-6700
- In care of
- % MARGARET ROSE
- Principal officer (990 for 2024)
- GRANT BREWER, 1311 RESEARCH CENTER DRIVE 2057, BLACKSBURG, VA 24061
- Signed the 990
- GRANT BREWER, PRESIDENT
- Phone
- (540) 231-1231
- Website
- WWW.VTIP.ORG
- Return prepared by
- BROWN EDWARDS & COMPANY LLP
Mission
TO PROMOTE, ENCOURAGE, AND MARKET SCIENTIFIC RESEARCH BY THE FACULTY, STAFF AND STUDENTS SOLELY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).
Program accomplishments
- THE COMPANY MANAGED AND MARKETED ALL INTELLECTUAL PROPERTIES (I.E. PRODUCTS AND PROCESSES WHICH MAY BE PROTECTED BY EITHER A PATENT, TRADEMARK, COPYRIGHT, OR TRADE SECRET) DEVELOPED BY FACULTY, STAFF, OR STUDENTS OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).Expenses $3,302,707 · grants $935,908 · revenue $3,029,850
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
- 54-1323858
- 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
- 1985
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,905,652
- Income (IRS master file)
- $4,025,789
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $4,025,789 | $3,927,089 | $3,905,652 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $4,589,538 | $3,953,402 | $4,046,203 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $3,898,747 | $3,436,633 | $3,574,255 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $3,370,644 | $3,141,992 | $2,751,745 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | 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 54-1323858).
Questions about VTIP INC
- What is the EIN of VTIP INC?
- The employer identification number (EIN) of VTIP INC is 54-1323858.
- Is VTIP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1985.
- Are donations to VTIP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does VTIP INC 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 VTIP INC 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 VTIP INC 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 VTIP INC?
- The 990 for the year ended June 30, 2025 names GRANT BREWER.
- Who are the officers and directors of VTIP INC?
- The 990 for the year ended June 30, 2025 lists 10 people; 0 received compensation from the organization.
- How much revenue does VTIP INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $4,025,789, expenses of $3,927,089 and total assets of $3,905,652 at year end.
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