Virginia · Nonprofit
SOVA INNOVATION HUB CORPORATION
SOVA INNOVATION HUB CORPORATION (Virginia) receives grants from 2 organizations whose IRS filings report $2,547,579 to it, the largest being MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION ($1,404,014). 2 of them have funded it in more than one year.
- Revenue FY2025
- $716k
- Funders on record
- 2
- Grants received
- $2.5M
- Net assets
- $1.0M
What Sova Innovation Hub Corporation does
Mission
To promote economic development and encourage innovation for the benefit of the communities and citizens of southern virginia by offering impactful programming for digital skills education and workforce training.
As stated on its FY2025 Form 990.
Program
To promote economic development and encourage innovation for the benefit of the communities and citizens of southern virginia by offering impactful programming for digital skills education and workforce training.
$446,388 spentof which $13,500 as grants100% of program spending
The program described on its FY2024 Form 990. Program spending in total: $446,388.
The organization over time
Each line starts at 100 in 2020, so what you read is the shape rather than the size: 150 means half as much again as 2020, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2024 to 2025, from $1.4M to $2.3M (+60%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2021 0% · 2022 21% · 2023 41% · 2024 11% · 2025 41%. Grants only. Government contracts and fees sit inside program revenue.
90% of SOVA INNOVATION HUB CORPORATION’s revenue is contributions — more donation-reliant than the typical peer (62% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 3 of the last 6 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Board chair
Thomas Deriso
Chairman
As listed on its FY2025 Form 990.
Who funds it, year by year
2020 → 2023: the base broadened from 1 funder to 2 funders, grant income rose $125k → $468k.
1 of 2 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 45% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of SOVA INNOVATION HUB CORPORATION’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
SOVA INNOVATION HUB CORPORATION leans on a few funders — its largest provides 55% of grant income and the top three 100%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
100% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund SOVA INNOVATION HUB CORPORATION.
Largest funder’s share by year: 2020 100% · 2021 70% · 2022 71% · 2023 53% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
100% of SOVA INNOVATION HUB CORPORATION's grant income comes from Virginia funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $1.1M arriving through sponsors registered in 1 state is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
SOVA INNOVATION HUB CORPORATION has grown faster than three-quarters of the 7,175 community improvement nonprofits its size.
this organization peer median middle 50% of peers· 7,175 community improvement nonprofits $100k–$1M, FY2025
Government funding SOVA INNOVATION HUB CORPORATION receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $1.3M on record.
- Department of Commerce$1.3M
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like SOVA INNOVATION HUB CORPORATION
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Virginia
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
60% of spending goes to programs.
Governance
Public support
21%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Screen this organization
A dated, signed PDF of the compliance screen for SOVA INNOVATION HUB CORPORATION: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds SOVA INNOVATION HUB CORPORATION?
- SOVA INNOVATION HUB CORPORATION (Virginia) receives grants from 2 organizations whose IRS filings report $2,547,579 to it, the largest being MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION ($1,404,014). 2 of them have funded it in more than one year.
- How many funders does SOVA INNOVATION HUB CORPORATION have?
- IRS filings report 2 organizations giving $2,547,579 in grants to SOVA INNOVATION HUB CORPORATION, 2 of which have funded it in more than one year.
- Who is the largest funder of SOVA INNOVATION HUB CORPORATION?
- MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION is the largest funder on record, with $1,404,014 in grants. The full list of funders is on this page.
- How can an organization like SOVA INNOVATION HUB CORPORATION find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Virginia. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2020–2025), and the filings of 2 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing