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Nonprofiteer
← VIRGINIA STATE UNIVERSITY RESEARCH FOUNDATION

Form 990 for tax year 2022

Filed by VIRGINIA STATE UNIVERSITY RESEARCH FOUNDATION.

Totals

Total revenue
$92,000
Total expenses
$31,037
Contributions and grants received
$92,000
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$967,471
Total liabilities, end of year
$1,667
Net assets or fund balances, end of year
$965,804
Program services expenses (Part IX)
$16,441
Management and general expenses
$14,596
Fundraising expenses
$0
Program service expenses (Part III)
$16,441

Program services were 53.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $92,000

  • 1g · Noncash contributions included above

    $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $11,583 · management and general $11,583

  • 11g · Fees: other

    total $4,300 · program services $1,800 · management and general $2,500

  • 17 · Travel

    total $8,397 · program services $8,397

  • 19 · Conferences, conventions and meetings

    total $3,802 · program services $3,289 · management and general $513 · fundraising $0

  • 24a · Other expenses: Direct Program Costs

    total $2,955 · program services $2,955 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $855,316 · end of year $913,499

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $4,446

  • 3 · Pledges and grants receivable

    beginning of year $49,526 · end of year $49,526

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $1,667

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $441,843 · end of year $413,220

  • 28 · Net assets with donor restrictions

    beginning of year $462,999 · end of year $552,584

Mission and programs · 2022

Mission

The purpose of Virginia State University Research Foundation (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.

Activities or mission (Part I)

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.

  • See Schedule O for detailed descriptions of the 2022-2023 program accomplishments.

    Expenses $16,441 · Revenue $90,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Makola M Abdullah

    Chairman

    Total calculated
    $403,186
    From this org
    $0
    From related orgs
    $0
    Other
    $403,186
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,186 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $403,186 related

  • Donald Palm

    Vice Chairman

    Total calculated
    $262,499
    From this org
    $0
    From related orgs
    $0
    Other
    $262,499
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,499 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $262,499 related

  • Kevin Davenport

    Director

    Total calculated
    $223,097
    From this org
    $0
    From related orgs
    $0
    Other
    $223,097
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,097 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $223,097 related

  • G Dale Wesson

    Secretary

    Total calculated
    $222,232
    From this org
    $0
    From related orgs
    $0
    Other
    $222,232
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $222,232 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $222,232 related

  • Dawit Haile

    Treasurer

    Total calculated
    $197,209
    From this org
    $0
    From related orgs
    $0
    Other
    $197,209
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,209 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $197,209 related

  • Ali Ansari

    Director

    Total calculated
    $118,663
    From this org
    $0
    From related orgs
    $0
    Other
    $118,663
    Hours/week
    2 + 40 related

  • Brian Sayre

    Director

    Total calculated
    $93,437
    From this org
    $0
    From related orgs
    $0
    Other
    $93,437
    Hours/week
    2 + 40 related

  • Ronald Johnson

    Director

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303389349300440

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