VIRGINIA INNOVATION PARTNERSHIP CORPORATION Charity Report

Public IRS 990 nonprofit record

VIRGINIA INNOVATION PARTNERSHIP CORPORATION

EIN 54-1282820 · Science & Technology (U41Z)

What they do

VIPC GROWS and DIVERSIFIES VIRGINIAS ECONOMY BY INVESTING IN and ACCELERATING INNOVATION COMMERCIALIZATION and ENTREPRENEURSHIP.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $78.30 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders23 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

70.94%of revenue went to mission work78.3% of expenses · Program services

$90.64spent for every $100 of revenueRevenue covered expenses this year.

19.70%of revenue went to management and office costs21.7% of expenses

$3.02in assets for every $1 spent this yearSome assets cannot be spent right away.

50.8%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $381,397 for TOM WEITHMAN (CIO & VP). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$33,814,047

Mission workProgram services$23,988,05270.94% of revenue78.3% of expenses

ManagementOffice and general costs$6,661,24419.70% of revenue21.7% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$3,164,7519.36% of revenueShown in gray on the chart

Total expenses$30,649,29690.64% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 78.3% mission · 21.7% management · 0.0% fundraisingTotal expenses: 90.64% of revenue

2023Expense mix: 84.0% mission · 16.0% management · 0.0% fundraisingTotal expenses: 83.16% of revenue

2022Expense mix: 86.6% mission · 13.4% management · 0.0% fundraisingTotal expenses: 109.29% of revenue

2021Expense mix: 84.4% mission · 15.6% management · 0.0% fundraisingTotal expenses: 113.98% of revenue

2020Expense mix: 84.2% mission · 15.8% management · 0.0% fundraisingTotal expenses: 28.46% of revenue

Money in and money out

Revenue$33,814,047

Expenses$30,649,296

Annual surplus $3,164,751 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$23,988,052 · 78.3% of expenses

Management and office costs$6,661,244 · 21.7% of expenses

See all reported dollar amounts

Revenue$33,814,047

Expenses$30,649,296

Assets$92,536,838

Income$33,814,047

Contributions$17,184,914

Mission work (program services)$23,988,052

Grants given$32,366,144

Average grant$74,405

Management and general$6,661,244

Accounting fees$99,373

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

TOM WEITHMANCIO & VP · 40 hrs/week $381,397Base $310,716 · Other $70,681

JOE BENEVENTOPRESIDENT & CEO · 40 hrs/week $378,287Base $329,053 · Other $49,234

DAVE IHRIECHIEF TECH OFFICER · 40 hrs/week $335,305Base $279,163 · Other $56,142

MARCO RUBINSENIOR DIRECTOR, INVESTMENT · 40 hrs/week $270,914Base $221,531 · Other $49,383

BOB STOLLEFORMER PRESIDENT & CEO · 40 hrs/week $257,703

CONAWAY HASKINSVP, ENTREPRENUERIAL · 40 hrs/week $247,319Base $190,908 · Other $56,411

ANGELA COSTELLOVP, MARKETING · 40 hrs/week $237,121Base $191,306 · Other $45,815

ALEX EULERSENIOR DIRECTOR, INVESTMENT · 40 hrs/week $236,515Base $190,720 · Other $45,795

JEN ODANIELSENIOR DIRECTOR, INVESTMENT · 40 hrs/week $225,596Base $190,391 · Other $35,205

SEAN MALLONVP, COMMERCIALIZATION THRU 09/15/24 · 40 hrs/week $225,345Base $180,956 · Other $44,389

KRISTAL PARKERCHRO · 40 hrs/week $209,166Base $166,399 · Other $42,767

LESLIE WILLIAMSCHIEF ADMINISTRATIVE OFFICER · 40 hrs/week $199,292Base $166,935 · Other $32,357

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (23)

TOM WEITHMANCIO & VP

JOE BENEVENTOPRESIDENT & CEO

DAVE IHRIECHIEF TECH OFFICER

MARCO RUBINSENIOR DIRECTOR, INVESTMENT

BOB STOLLEFORMER PRESIDENT & CEO

CONAWAY HASKINSVP, ENTREPRENUERIAL

ANGELA COSTELLOVP, MARKETING

ALEX EULERSENIOR DIRECTOR, INVESTMENT

JEN ODANIELSENIOR DIRECTOR, INVESTMENT

SEAN MALLONVP, COMMERCIALIZATION THRU 09/15/24

KRISTAL PARKERCHRO

LESLIE WILLIAMSCHIEF ADMINISTRATIVE OFFICER

ROB QUARTELDIRECTOR

KELLEY POWELL WILLIAMSONDIRECTOR

LINDSAY WINTERDIRECTOR

CHRIS LONGDIRECTOR

MARILYN PERKINSDIRECTOR AS OF 07/01/24

MARK BISHOFDIRECTOR AS OF 07/01/24

RICHARD HALLDIRECTOR

RITA ROYCHAIR

SHASHIKANT GUPTADIRECTOR

THE HONORABLE CAREN MERRICKVICE CHAIR THRU 04/09/25

THE HONORABLE JUAN PABLO SEGURAVICE CHAIR FROM 04/10/25

About this charity

Recognized since: January 1984
Location: 2214 ROCK HILL RD STE 600, HERNDON, VA 20170-4228
County: Fairfax
In care of: LESLIE WILLIAMS
Primary officer: LESLIE WILLIAMS, CHIEF ADMINISTRATIVE OFFICER

How to reach them

WebsiteVisit the charity’s website Emailinfo@VirginiaIPC.org Phone(703) 689-3035

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: CHERRY BEKAERT ADVISORY LLC
NTEE classification: Science & Technology (U41Z)
Grant-giving organization: Yes