Virginia State University Research Foundation
- Assets
- $967.5k
- Revenue
- $92.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Petersburg, VA
- Founding
- 06/2013
- Data as of
- 06/2023
- EIN
- 46-0666326
Organization Overview
Virginia State University Research Foundation is located in Petersburg, VA. The organization was established in 2013. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia State University Research Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Virginia State University Research Foundation generated $92.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $31.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (19.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF VSURF IS TO SUPPORT THE VIRGINIA STATE UNIVERSITY'S ("UNIVERSITY") OBJECTIVES FOR RESEARCH, PUBLIC SERVICE, ECONOMIC AND TECHNOLOGICAL DEVELOPMENT. AS A REPRESENTATIVE OF THE UNIVERSITY, VSURF EXEMPLIFIES THE SAME SPIRIT OF ENTREPRENEURSHIP AND FOCUSES ON THE APPLICATIONS OF ENGINEERING, SCIENCE AND TECHNOLOGY TO DEVELOP NEW IDEAS, METHODS AND OPPORTUNITIES. IN ITS CAPACITY, VSURF WILL PROVIDE SEVERAL SERVICES RELATED TO INTELLECTUAL PROPERTY MANAGEMENT, TECHNOLOGY TRANSFER AND COMMERCIALIZATION, AND THE OFFICE OF SPONSORED RESEARCH & PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR DETAILED DESCRIPTIONS OF THE 2022-2023 PROGRAM ACCOMPLISHMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Makola M Abdullah Chairman | OfficerTrustee | 2 | $0 |
Donald Palm Vice Chairman | OfficerTrustee | 2 | $0 |
Kevin Davenport Director | Trustee | 2 | $0 |
G Dale Wesson Secretary | OfficerTrustee | 2 | $0 |
Dawit Haile Treasurer | OfficerTrustee | 2 | $0 |
Ali Ansari Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,583 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,300 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,397 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,802 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,955 |
| Total functional expenses | $31,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $913,499 |
| Savings and temporary cash investments | $4,446 |
| Pledges and grants receivable | $49,526 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $967,471 |
| Accounts payable and accrued expenses | $1,667 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,667 |
| Net assets without donor restrictions | $413,220 |
| Net assets with donor restrictions | $552,584 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $967,471 |
Grants Awarded
Over the last fiscal year, Virginia State University Research Foundation has awarded $529,556 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
XAVIER UNIVERSITY PURPOSE: To provide research, data collection and professional development for teachers in areas where students are under performing in mathematics and algebra. | $95,027 |
SOUTHERN INITIATIVE ALGEBRA PROJECT PURPOSE: To provide program and professional development for sites determined by VSURF. | $223,295 |
LINCOLN UNIVERSITY PURPOSE: Grant funds to be used for research, data collection and professional development of teachers for students in localities that are under performing in the mathematics and algebra. | $103,646 |
DILLARD UNIVERSITY PURPOSE: Grant funds to use for research, data collection and professional development of teachers that are in localities in which the students are under performing in mathematics and algebra. | $107,588 |