EIN 46-2975294

Valleys Innovation Council Verge

IRS 501(c) type
501(c)(3)
Num. employees
8
Year formed
2013
Most recent tax filings
2023-12-01
NTEE code, primary
Description
Verge connects stakeholders to grow and strengthen the innovation economy. It received major grants for expanding programming and offering educational support.
Also known as...
The Roanoke-Blacksburg Innovation Network
Total revenues
$3,656,989
2023
Total expenses
$1,536,698
2023
Total assets
$2,417,096
2023
Num. employees
8
2023

Program areas at Valleys Innovation Council Verge

Biotech project - this multi-year project includes funding from The commonwealth of Virginia, as well as arpa and non-arpa funds from The city of roanoke, with numerous project partners to build a biotechnology incubator in roanoke. Verge will launch an Innovation studio and new programming to support The region's early-stage biotech and digital health start-ups. The grant reporting period began when The grant was approved on july 1, 2022 with arpa funds needing to be fully depleted by december 2024 and state and non-arpa funds needing to be depleted by june 2025. The full funding amount of 2.2m was deposited in july 2023 and was moved to a money market account at atlantic union. Funds are drawn down on a monthly basis based on project expenditures. Carilion has provided matching funds in The total amount of 900k and will be paid out at approximately 175,000 over 5 years.
Eda - in october 2020, ramp recieved a major endorsement by The u.s. economic development administration, which awarded a nearly 1 million grant to Valleys Innovation council/verge, which The grant project closed on september 30, 2023. This grant is focused on expanding programming in four key areas: 1. Startup pathways to respond to The need for more focus on pre-acceleration companies by providing mentor connections, supporting The health science & technology commercialization fellowship with fralin biomedical research institute, and supporting translational research from Virginia tech. 2. Scaling The accelerator-in-residence program by providing support for six in-residence cohorts over The three-year period adding a program coordinator to support The expansion, increasing access to domain expert mentors, and providing hybrid in-person and virtual courses. 3. Ehnhanced to provide alumni support through ongoing mentoring, pitchplus programming to help connections to regional Innovation ecosystem resources, and research connected workspace. 4. Resource development and research through mentor development and training, making connections to regional Innovation ecosystem resources, and research connected to tracking The growth and development of The regional Innovation economy.
Ramp (regional accelerator and mentoring program) - offers two cohorts per year, with their headquarters located in The gill memorial building, roanoke, Virginia. Accepted cohort companies are engaged in a 12-week program that focuses on mentoring, coaching, networking, and educational events to help grow their business, access to capital resources, free office space with high-speed internet access, 20,000 in equity fee funding, and additional alumni support post acceleration.
Various

Who funds Valleys Innovation Council Verge

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Virginia Innovation Partnership Corporation (CIT)Research$100,000
Carilion ClinicProgram Support$100,000
Community Foundation Serving Western VirginiaDesignated for Tech Night Award$10,000
...and 3 more grants received

Personnel at Valleys Innovation Council Verge

NameTitleCompensation
Greg FeldmannDirector$0
Meredith HundleyChief Program Officer / Program Director$97,008
Jackie LackeyVice President of Programs
Lindsey EversoleOperations and Grants Manager
Erin BurchamVerge President$138,890
...and 8 more key personnel

Financials for Valleys Innovation Council Verge

RevenuesFYE 12/2023
Total grants, contributions, etc.$3,656,989
Program services$0
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$3,656,989

Form 990s for Valleys Innovation Council Verge

Fiscal year endingDate received by IRSFormPDF link
2023-122024-04-09990View PDF
2022-122023-05-11990View PDF
2021-122022-05-12990View PDF
2020-122021-05-26990View PDF
2019-122021-01-21990View PDF
...and 6 more Form 990s
Data update history
May 24, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 20, 2024
Updated personnel
Identified 8 new personnel
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $10,000 from Community Foundation Serving Western Virginia
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
September 27, 2023
Received grants
Identified 1 new grant, including a grant for $100,000 from Carilion Clinic
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
EducationCommunity improvementEconomic development
Characteristics
Partially liquidatedReceives government fundingTax deductible donationsAccepts online donations
General information
Address
2200 Kraft Dr Suite 1350
Blacksburg, VA 24060
Metro area
Blacksburg-Christiansburg, VA
County
Montgomery County, VA
Website URL
valleysinnovation.org/ 
Phone
(540) 443-9216
IRS details
EIN
46-2975294
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2013
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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