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← VIRGINIA ACADEMY OF SCIENCE ENGINEERING AND MEDICINE INC

Form 990 for tax year 2024

Filed by VIRGINIA ACADEMY OF SCIENCE ENGINEERING AND MEDICINE INC.

Totals

Total revenue
$438,858
Total expenses
$334,881
Contributions and grants received
$424,783
Grants paid
$33,000
Program service revenue
$0
Investment income
$14,075
Other revenue
$0
Total assets, end of year
$505,365
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$505,365
Program services expenses (Part IX)
$272,739
Management and general expenses
$62,142
Fundraising expenses
$0
Program service expenses (Part III)
$272,739

Program services were 81.4% 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.

  • 1b · Membership dues

    $152,500

  • 1f · All other contributions, gifts and grants

    $272,283

  • 3 · Investment income

    total $14,075 · excluded $14,075

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $33,000 · program services $33,000

  • 7 · Other salaries and wages

    total $61,250 · program services $61,250

  • 10 · Payroll taxes

    total $7,316 · program services $7,316

  • 11c · Fees: accounting

    total $2,500 · management and general $2,500

  • 11g · Fees: other

    total $118,989 · program services $81,343 · management and general $37,646

  • 12 · Advertising and promotion

    total $3,251 · program services $3,251

  • 13 · Office expenses

    total $1,825 · management and general $1,825

  • 14 · Information technology

    total $2,922 · program services $2,922

  • 17 · Travel

    total $10,772 · management and general $10,772

  • 23 · Insurance

    total $3,757 · management and general $3,757

  • 24a · Other expenses: WRITING FEES, PRINTING

    total $31,079 · program services $31,079

  • 24b · Other expenses: PUBLICATIONS

    total $24,018 · program services $24,018

  • 24c · Other expenses: EVENT EXPENSES

    total $15,628 · program services $15,628

  • 24d · Other expenses: REIMBURSEMENTS

    total $4,994 · program services $4,994

  • 24e · All other expenses

    total $13,580 · program services $7,938 · management and general $5,642

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $173,789 · end of year $178,315

  • 2 · Savings and temporary cash investments

    beginning of year $227,599 · end of year $291,675

  • 4 · Accounts receivable

    end of year $35,000

  • 15 · Other assets

    end of year $375

  • 27 · Net assets without donor restrictions

    beginning of year $401,388 · end of year $505,365

Mission and programs · 2024

Mission

THE PRIMARY PURPOSES OF VASEM SHALL BE TO:(1) INFORMPROVIDE AN INDEPENDENT RESOURCE OF EXPERTISE IN SCIENCE, ENGINEERING AND MEDICINE TO THE COMMONWEALTH OF VIRGINIA; ENVISION FUTURE TRENDS AND PROVIDE LEADERSHIP IN CATALYZING EMERGING OPPORTUNITIES;(2) ADVOCATEPROMOTE INVESTMENTS IN JOB GROWTH, RESEARCH, AND SOLUTIONS TO CHALLENGES IN SCIENCE, ENGINEERING AND TECHNOLOGY; SUPPORT EMERGING LEADERS IN SCIENCE, ENGINEERING AND MEDICNE TOWARD THEIR ELECTION IN THE NATIONIAL ACADEMIES;(3)SERVEFOSTER NEW COLLABORATIONS BETWEEN BUSINESSES AND THE COMMONWEALTH OF VIRGINIA UNIVERSITIES AND COLLEGES; GROW VIRGINIA'S COMPETITIVENESS FOR NEW BUSINESS INVESTMENTS, FEDERAL FUNDING AND JOB GROWTH.

Activities or mission (Part I)

THE PRIMARY MISSION OF VASEM SHALL BE TO:(1) INFORMPROVIDE AN INDEPENDENT RESOURCE OF EXPERTISE IN SCIENCE, ENGINEERING AND MEDICINE TO THE COMMONWEALTH OF VIRGINIA; ENVISION FUTURE TRENDS AND PROVIDE LEADERSHIP IN CATALYZING EMERGING OPPORTUNITIES;(2) ADVOCATEPROMOTE INVESTMENTS IN JOB GROWTH, RESEARCH, AND SOLUTIONS TO CHALLENGES IN SCIENCE, ENGINEERING AND TECHNOLOGY; SUPPORT EMERGING LEADERS IN SCIENCE, ENGINEERING AND MEDICNE TOWARD THEIR ELECTION IN THE NATIONIAL ACADEMIES;(3)SERVEFOSTER NEW COLLABORATIONS BETWEEN BUSINESSES AND THE COMMONWEALTH OF VIRGINIA UNIVERSITIES AND COLLEGES; GROW VIRGINIA'S COMPETITIVENESS FOR NEW BUSINESS INVESTMENTS, FEDERAL FUNDING AND JOB GROWTH.

  • PULLING TOGETHER INDIVIDUALS FROM INDUSTRY, ACADEMIC, AND GOVERNMENT 'SILOS' TO CREATE CROSS-INDUSTRY AND CROSS-DISCIPLINARY OPPORTUNITIES IN FAST-MOVING TECHNICAL FIELDS THAT INCLUDE BIG DATA, TRANSPORTAION AND AUTONOMOUS SYSTEMS AND BECOME A RESOURCE FOR LEGISLATIVE AND OTHER GROUPS AS A BRAIN TRUST FOR INDUSTRY, GOVERNMENT AND EDUCATION.

    Expenses $179,723

  • THE COMMONWEALTH OF VIRGINIA ENGINEERING AND SCIENCE (COVES) FELLOWSHIP IS A 12-WEEK FELLOWSHIP PROGRAM OF THE VIRGINIA ACADEMY OF SCIENCE, ENGINEERING AND MEDICINE (VASEM). GRADUATE STUDENT AND POSTDOCTORAL FELLOWS WILL SERVE AS SCIENCE ADVISORS IN A VARIETY OF POSSIBLE PLACEMENTS, INCLUDING LEGISLATIVE OFFICES, EXECUTIVE AGENCIES, OR PROMINENT COMPANIES AND NONPROFITS IN THE STATE OF VIRGINIA. FELLOWS WILL GAIN EXPERIENCE BY SERVING THEIR HOST OFFICE AND PERFORMING RELEVANT TASKS SUCH AS RESEARCHING, DRAFTING, AND REVISING RELEVANT POLICIES. FELLOWS WILL ALSO BE PAIRED WITH A VASEM MEMBER WHO WILL SERVE AS AN EXPERIENCED SCIENCE POLICY MENTOR THROUGHOUT THE FELLOWSHIP.

    Expenses $93,016 · Grants $33,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr Alfred Grasso

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Dr X J Meng

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Mr David Roop

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Dr Jennifer West

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Dr James Aylor

    IMMEDIATE PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Dr Anthony J Beasley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Barbara Boyan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Robert Carey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Patricia Dove

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Antonio Elias

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Anita Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Robert Kahn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Alex Krist

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Chen-Ching Liu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • General Lester L Lyles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Robert Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Thomas Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
26 February 2026
IRS schema version
2024v5.5
Source object
202600589349301200

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