Virginia Biosciences Health Research Corporation
- Assets
- $18.8m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Richmond, VA
- Founding
- 10/2014
- Data as of
- 06/2022
- EIN
- 46-1961453
Organization Overview
Virginia Biosciences Health Research Corporation is located in Richmond, VA. The organization was established in 2014. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Virginia Biosciences Health Research Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Biosciences Health Research Corporation 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 06/2022, Virginia Biosciences Health Research Corporation generated $7.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $3.1m during the year ending 06/2022. While expenses have increased by 6.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Virginia Biosciences Health Research Corporation has awarded 42 individual grants totaling $18,242,328. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HUMAN HEALTH BY ACCELERATING TRANSLATIONAL RESEARCH THROUGH COLLABORATIONS BETWEEN VIRGINIA RESEARCH UNIVERSITIES AND INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATE STRONGER WORKING PARTNERSHIP BETWEEN VIRGINIA ACADEMIC RESEARCH UNIVERSITIES, THE BIOTECHNOLOGY INDUSTRY, AND HEALTH DELIVERY SYSTEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Grisham President & CEO | Officer | 40 | $200,000 |
Suzanne Zeta PHD VP | Officer | 40 | $118,944 |
Thomas D Roberts III Secretary | OfficerTrustee | 1 | $0 |
David X Cifu MD Chair | OfficerTrustee | 1 | $0 |
Morris W Foster PHD Treasurer | OfficerTrustee | 1 | $0 |
Howard P Kern Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,500,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $300,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,800,000 |
| Total Program Service Revenue | $0 |
| Investment income | $1,213 |
| 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 | $7,801,213 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,658,018 |
| 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. | $200,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,227 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,402 |
| Payroll taxes | $23,069 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,132 |
| Fees for services: Accounting | $30,951 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $850 |
| Office expenses | $757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,391 |
| Travel | $724 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $403 |
| Total functional expenses | $3,121,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,989,215 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,800,000 |
| 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 | $13,850 |
| 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 | $18,803,065 |
| Accounts payable and accrued expenses | $264,296 |
| Grants payable | $0 |
| Deferred revenue | $1,350 |
| 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 | $265,646 |
| Net assets without donor restrictions | $8,238,419 |
| Net assets with donor restrictions | $10,299,000 |
| 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 | $18,803,065 |
Grants Awarded
Over the last fiscal year, Virginia Biosciences Health Research Corporation has awarded $2,658,017 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Charlottesville, VA PURPOSE: TO FOSTER LIFE SCIENCES RESEARCH | $1,563,700 |
VIRGINIA COMMONWEALTH UNIVERSITY PURPOSE: TO FOSTER LIFE SCIENCES RESEARCH | $467,600 |
Norfolk, VA PURPOSE: TO FOSTER LIFE SCIENCES RESEARCH | $261,717 |
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY PURPOSE: TO FOSTER LIFE SCIENCES RESEARCH | $255,000 |
GEORGE MASON UNIVERSITY PURPOSE: TO FOSTER LIFE SCIENCES RESEARCH | $100,000 |
OLD DOMINION UNIVERSITY PURPOSE: TO FOSTER LIFE SCIENCES RESEARCH | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Academy Of Managed Care Pharmacy A New Jersey Nonprofit Corporation Alexandria, VA | $27,096,439 | $20,779,074 |
Energetics Technology Center Inc Indian Head, MD | $3,510,946 | $10,768,646 |
Virginia Health Information Richmond, VA | $10,541,245 | $9,704,861 |
Ash Registry Inc Washington, DC | $2,547,175 | $1,111,574 |
Patuxent Partnership Inc Lexington Park, MD | $2,842,060 | $6,374,195 |
Kentucky Science And Technology Corporation Lexington, KY | $21,953,282 | $6,206,221 |
Deltares Usa Inc Silver Spring, MD | $2,728,282 | $4,807,660 |
If Foundation Washington, DC | $30,380,143 | $2,916,137 |
Virginia Biosciences Health Research Corporation Richmond, VA | $18,803,065 | $7,801,213 |
Institute For The Advancement Of Food And Nutrition Sciences Washington, DC | $7,160,347 | $2,744,380 |
Data Catalyst Institute Washington, DC | $0 | $1,410,054 |
Building Change Inc Richmond, VA | $163,183 | $1,312,788 |