Virginia Tech Innovations Corporation

Analysis

Virginia Tech Innovations Corporation is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in August 2012, 14 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Tech Innovations Corporation reported income of $754k and spending of $687k, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $832k to $754k (-9.4%), an average of -3.2% a year. The sharpest change came in the year to June 2022, when income rose by 64%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia Tech Innovations Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($754k), Washington Studio School Inc ($754k) and Karis Community ($754k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 56% of the total. Other salaries and wages came to $23k. At year end it held assets of $506k against liabilities of $435k, net assets of $71k.