Virginia · Nonprofit
VIRGINIA INNOVATION PARTNERSHIP CORPORATION
VIRGINIA INNOVATION PARTNERSHIP CORPORATION (Virginia) receives grants from 1 organization whose IRS filings report $40,000 to it, the largest being VIRGINIA SATSLAB INC ($40,000). 0 of them have funded it in more than one year.
- Revenue FY2025
- $34M
- Funders on record
- 1
- Grants received
- $40k
- Net assets
- $79M
What Virginia Innovation Partnership Corporation does
Mission
Vipc grows and diversifies virginia's economy by investing in and accelerating innovation commercialization and entrepreneurship.
As stated on its FY2025 Form 990.
Programs
Virginia venture partners (vvp) focuses on direct investment, placing equity investments in early-stage science and technology-based companies through a family of funds spanning multiple generations of tech, life science, and clean energy theses. Since the program's inception in 2005, the vvp program has invested $71m in 330 seed and early stage technology, life science, and energy companies across the commonwealth. Vvp investments have attracted in $2.6b in private capital. Program service revenue consists of proceeds on liquidated investments. Additionally, funding from the state small business credit initiative (ssbci) program, under the u.s. Department of the treasury, was provided to accelerate the formation and growth of entrepreneurial businesses across the commonwealth of virginia. Approximately $173m of ssbci funding will be allocation to vipc over 10 years, vipc received $36.2m in funds in fy2024 and fy2025 (the first two years of the program for vipc).
$13,404,628 spent$9,276,815 earned by the program56% of program spendingThe commonwealth commercialization fund (ccf) drives economic growth by providing private sector and higher education and eminent researcher recruitment and retention grant funding for innovative technology research, development, and commercialization in virginia. In total, more than $64m has been awarded to 716 projects. Since the program's inception, awardees have reported more than $1.9b in follow-on funding and more than $227m in generated revenue.
$4,405,562 spentof which $3,946,096 as grants18% of program spendingUnder vipc's contract with the us department of homeland security science and technology directorate is the commercial first innovation program. Key priorities include counter-unmanned systems mitigation, detection of environmental threats, and other public safety-related technologies. Strategic initiative efforts has strategically positioned the commonwealth of virginia to assume a national leadership role in aerospace & defense (a&d), public safety, and public private sector data governance and risk mitigation as new opportunities and challenges evolve. Other program initiatives include: smart communities, partnerships with other commonwealth agencies, and the public safety innovation center.
$2,684,163 spent$2,039,477 earned by the program11% of program spendingDescription: other program services1. Entrepreneurial ecosystems2. Unmanned systems3. Federal funding assistance program
$3,493,699 spentof which $1,373,000 as grants$1,396,924 earned by the program15% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $23,988,052.
The organization over time
Each line starts at 100 in 2021, so what you read is the shape rather than the size: 150 means half as much again as 2021, 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 $80M to $93M (+16%).
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: 2022 70% · 2023 49% · 2024 36% · 2025 51%. Grants only. Government contracts and fees sit inside program revenue.
51% of VIRGINIA INNOVATION PARTNERSHIP CORPORATION’s revenue is contributions — about as donation-reliant as the typical peer (52% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 2 of the last 5 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.
Chief executive
Joe Benevento
President & CEO
Board chair
Rita Roy
Chair
As listed on its FY2025 Form 990.
Who funds it, year by year
Grant support over time, funder by funder — shade shows the grant size each year.
Left out of every figure on this page: $40k from one payer (the same organization on both sides, largest Virginia Innovation Partnership Corporation). These are real filings, and they are not money VIRGINIA INNOVATION PARTNERSHIP CORPORATION raised.
From the IRS filings of VIRGINIA INNOVATION PARTNERSHIP 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.
Where its funders are
100% of VIRGINIA INNOVATION PARTNERSHIP CORPORATION's grant income comes from Virginia funders.
Funder states come from each funder’s own filing. 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
VIRGINIA INNOVATION PARTNERSHIP CORPORATION holds deeper cash reserves than three-quarters of the 78 science & tech nonprofits its size.
this organization peer median middle 50% of peers· 78 science & tech nonprofits $10M–$100M, FY2025
Government funding VIRGINIA INNOVATION PARTNERSHIP CORPORATION receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $28.6M on record.
- Department of Homeland Security$26.7M
- Department of Commerce$1.0M
- Small Business Administration$919k
- National Aeronautics and Space Administration$49k
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 VIRGINIA INNOVATION PARTNERSHIP 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
78% of spending goes to programs.
Governance
Public support
92%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Part of a family of 1 related entity
- Virginia Innovation Partnership Authority · exempt
Screen this organization
A dated, signed PDF of the compliance screen for VIRGINIA INNOVATION PARTNERSHIP 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 VIRGINIA INNOVATION PARTNERSHIP CORPORATION?
- VIRGINIA INNOVATION PARTNERSHIP CORPORATION (Virginia) receives grants from 1 organization whose IRS filings report $40,000 to it, the largest being VIRGINIA SATSLAB INC ($40,000). 0 of them have funded it in more than one year.
- How many funders does VIRGINIA INNOVATION PARTNERSHIP CORPORATION have?
- IRS filings report 1 organization giving $40,000 in grants to VIRGINIA INNOVATION PARTNERSHIP CORPORATION.
- Who is the largest funder of VIRGINIA INNOVATION PARTNERSHIP CORPORATION?
- VIRGINIA SATSLAB INC is the largest funder on record, with $40,000 in grants. The full list of funders is on this page.
- How can an organization like VIRGINIA INNOVATION PARTNERSHIP 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 2021–2025), and the filings of 1 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