Nonprofit · EIN 61-1764272
WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION
Tax-exempt · MORGANTOWN, WV 26506
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,710,934 | $8,512,578 | -$5,801,644 | $55,994,734 | $15,710,578 | $40,284,156 |
| December 31, 2023 | 990 | $1,493,034 | $8,167,782 | -$6,674,748 | $57,398,686 | $11,312,886 | $46,085,800 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,953,113
- Investment income
- $10,867
- Net rental income
- $736,934
- Net gain from sales of assets
- $1,262
- Other revenue
- $746,954
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $746,976
- Other salaries and wages
- $2,023,948
- Salaries, compensation and benefits (total)
- $3,370,615
- Professional fundraising fees
- $0
- Occupancy
- $1,689,956
- Travel
- $12,284
- Depreciation
- $1,100,868
- Program services (functional)
- $2,529,251
- Management and general (functional)
- $5,983,327
Balance sheet and other
- Total assets, start of year
- $57,398,686
- Total assets, end of year
- $55,994,734
- Total liabilities, end of year
- $15,710,578
- Net assets, end of year
- $40,284,156
- Land, buildings and equipment
- $54,589,528
- Net assets without donor restrictions
- -$3,109,630
- Net assets with donor restrictions
- $43,393,786
- Gross receipts
- $3,640,009
- Employees
- 35
- Volunteers
- 6
- Year formed
- 2015
- State of legal domicile
- WV
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Albert Wright Jr | WVUHS President/WVUIC Director/Chair Trustee or director, Officer | 0.25 | $0 | $2,297,899 | $428,379 |
| Nicholas Barcellona | WVUHS CFO/WVUIC Director/Treasurer Trustee or director, Officer | 0.25 | $0 | $1,039,954 | $193,947 |
| Jessica R Alsop | WVUHS Chief Legal Officer/Director starting 12.11.25 Trustee or director | 0.25 | $0 | $773,088 | $160,895 |
| Stacey K Armstrong | WVUIC President Officer | 20 | $558,924 | $0 | $188,052 |
| David Kosslow | WVU Associate VP for Finance Treasury/WVUIC Assistant Treasurer Officer | 12.5 | $0 | $188,959 | $38,078 |
| Erica Steratore | AVP, WVUIC Highest-paid employee | 40 | $190,234 | $0 | $33,337 |
| Randy Strimel | Director Facilities Engineering Highest-paid employee | 40 | $178,540 | $0 | $32,775 |
| Rossi Wiles | WVU Deputy General Counsel for Innovation Research/WVUIC Secretary Officer | 12.5 | $0 | $168,053 | $21,739 |
| Nicholas Blank | Senior Project Manager Highest-paid employee | 40 | $124,371 | $0 | $43,703 |
| Chris Boland | Manager Accounting Highest-paid employee | 40 | $127,462 | $0 | $18,042 |
| Rob Snare | Director Operations Highest-paid employee | 40 | $132,190 | $0 | $5,482 |
| Thomas Heywood | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| Marston Becker | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| Michael Graney | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| Thomas V Flaherty | Director Trustee or director | 0.25 | $0 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William D Wilmoth | Director Trustee or director | 0.25 | $0 |
| Clay B Marsh | Director, Secretary Trustee or director, Officer | 0.25 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Albert Wright Jr | WVUHS President/WVUIC Director Trustee or director | 0.25 | $0 | $3,546,299 | $409,396 |
| Douglas Coffman | WVUHS CFO/WVUIC Director through July 2023 Trustee or director | 0.25 | $0 | $775,026 | $25,873 |
| Stacey K Armstrong | WVUIC President Officer | 20 | $537,826 | $0 | $107,324 |
| Nicholas Barcellona | WVUHS CFO/WVUIC Director starting August 2023 Trustee or director | 0.25 | $0 | $370,983 | $78,064 |
| J Robert Alsop | WVU VP for Strategic Initiatives/WVUIC Director Trustee or director | 0.25 | $0 | $420,548 | $19,800 |
| Felicia Imbrogno | WVUHS AVP Senior Corporate Counsel/WVUIC Assistant Secretary Trustee or director | 0.25 | $0 | $293,848 | $42,626 |
| David Kosslow | WVU Associate VP for Finance Treasury/WVUIC Assistant Treasurer Officer | 12.5 | $0 | $189,818 | $34,684 |
| Erica Steratore | WVUIC Associate VP Highest-paid employee | 40 | $179,430 | $0 | $17,529 |
| Randy Strimel | Director Facilities Engineering Highest-paid employee | 40 | $167,221 | $0 | $28,816 |
| Rossi Wiles | WVU Deputy General Counsel for Innovation Research/WVUIC Secretary Officer | 12.5 | $0 | $165,771 | $19,910 |
| Stephen Johnson | Manager Facilities Engineering Highest-paid employee | 40 | $95,417 | $0 | $34,642 |
| Rob Snare | Director Security Highest-paid employee | 40 | $118,521 | $0 | $5,313 |
| Joe Farber | Team Leader Facilities Highest-paid employee | 40 | $99,957 | $0 | $19,530 |
| Thomas Heywood | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| Marston Becker | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| Michael Graney | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| Thomas V Flaherty | Director Trustee or director | 0.25 | $0 | $0 | $0 |
| William D Wilmoth | Director Trustee or director | 0.25 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 8034, MORGANTOWN, WV 26506-8034
- In care of
- % ROSSI E WILES
- Principal officer (990 for 2024)
- Stacey Armstrong, 1085 Van Voorhis Rd STE 500, Morgantown, WV 26505
- Signed the 990
- Stacey Armstrong, President
- Phone
- (304) 974-3810
Mission
To offer a wide range of strategic partnerships, academia, employment and community opportunities to the state, while promoting innovation and critical thinking within our workforce. Our vision is to catalyze economic growth and improve health outcomes through the advancement of science, medicine and technology in West Virginia and beyond.
Program accomplishments
- In 2022, WVUIC acquired a substantial manufacturing, development, and research facility as a donation the Facility. With the acquisition of the Facility, WVUIC will further its purpose of i providing facilities, resources, and support to facilitate the development or incubation of companies that will improve the economic development of the region through contractual agreements designed to maximize the stimulation, protection, and exploitation of intellectual property within the University community and ii encouraging, promoting, and supporting activities of the University related to the entrepreneurship and the development, testing, and evaluation of new technologies, research, and innovation by assisting and evaluating technologies and projects owned by the federal government and private industry.Expenses $2,529,251 · revenue $2,690,114
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 61-1764272
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U99)
- Assets (IRS master file)
- $55,994,734
- Income (IRS master file)
- $3,640,009
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,710,934 | $8,512,578 | $55,994,734 | IRS |
| 990 | December 2023 | $1,493,034 | $8,167,782 | $57,398,686 | XML |
| 990 | December 2022 | $2,370,971 | $4,926,198 | $58,745,858 | IRS |
| 990 | June 2022 | $11,450,000 | $4,408,606 | $58,733,877 | 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 61-1764272).
Questions about WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION
- What is the EIN of WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION?
- The employer identification number (EIN) of WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION is 61-1764272.
- Is WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WEST VIRGINIA UNIVERSITY INNOVATION 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 WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION?
- The 990 for the year ended December 31, 2024 names Stacey Armstrong.
- Who are the officers and directors of WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION?
- The 990 for the year ended December 31, 2024 lists 17 people; 6 received compensation from the organization.
- How much revenue does WEST VIRGINIA UNIVERSITY INNOVATION CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,710,934, expenses of $8,512,578 and total assets of $55,994,734 at year end.
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