Virginia Commonwealth University Intellectual Property Foundation

Analysis

Virginia Commonwealth University Intellectual Property Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in December 1997, 29 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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 Commonwealth University Intellectual Property Foundation reported income of $2.8m and spending of $3.0m, spending 106% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.4m to $2.8m (+15%), an average of +4.8% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Virginia Commonwealth University Intellectual Property Foundation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Sickle Cell Foundation of Georgia Inc ($2.8m), Idsa Education and Research Foundation ($2.8m) and Bone Health and Osteoporosis Foundation ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Other salaries and wages came to $49k. At year end it held assets of $4.8m against liabilities of $774k, net assets of $4.0m. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.