EIN 42-1727335

VentureWell

IRS 501(c) type
501(c)(3)
Num. employees
123
City
Year formed
2007
Most recent tax filings
2023-06-01
Description
VentureWell fosters collaboration among inventors, innovators, and entrepreneurs to solve world challenges through grants, partnering with the NIH for RADx.
Also known as...
National Collegiate Inventors and Innovators Alliance
Total revenues
$93,331,215
2023
Total expenses
$89,870,589
2023
Total assets
$53,617,163
2023
Num. employees
123
2023

Program areas at VentureWell

Radx - Venturewell serves as the network partner and administrator for the National institutes of health's rapid acceleration of diagnostics initiative, known as radx, this program aims to expand the range of innovative diagnostic technologies available to support a rapid increase in reliability, speed, and scale of testing for sars-cov-2 (the virus that causes covid-19) across the country.
I-corps program - Venturewell led courses engage participants in moving products out of the lab into the market by talking to potential customers, partners and competitors, and encountering the challenges and uncertainty of creating successful innovations.
In addition to the 3 grants programs outlined on lines 4a through 4c, nciia also: a) awards other types of grants primarily to institutions of higher education in keeping with the organization's mission of promoting invention, innovation and entrepreneurship; b) offers membership to colleges and universities across the u.s., which afford member institutions the opportunity to attend nciia-sponsored events at reduced rates, tap into the nciia network, and to apply for nciia grants; c) conducts workshops and events, including but not limited to an annual conference and workshops designed to teach technology entrepreneurship basics and how to enhance success of commercializing inventions and innovations; and d) invests in select ventures emerging from u.s. institutions of higher education.

Grants made by VentureWell

GranteeGrant descriptionAmount
Johns Hopkins University (JHU)Grants Awarded To Us-Based Faculty Or Student Teams for Global Project Explorations To Enhance Professional Development and Knowledge Base Within the Field of Biomedical Design and Innovation Or for the Development and Implementation of Bme Projects Focused on Innovation, Design, and Entrepreneurship. Funding, Hands-On Workshops, Peer Networking Opportunities, and Expert Coaching for Student Teams Working To Commercialize Their High-Impact Science and Technology Inventions.$88,000
Northwestern UniversityFunding, Hands-On Workshops, Peer Networking Opportunities, and Expert Coaching for Student Teams Working To Commercialize Their High-Impact Science and Technology Inventions.$40,000
University of MassachusettsFunding, Hands-On Workshops, Peer Networking Opportunities, and Expert Coaching for Student Teams Working To Commercialize Their High-Impact Science and Technology Inventions.$40,000
...and 41 more grants made totalling $1,034,366

Who funds VentureWell

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Lemelson FoundationTo Support Promising, Early-Stage Student Inventors in the Venture Development Process, and To Support Faculty To Cultivate the Conditions That Nurture Student Inventors.$3,053,149
The Clinton FoundationLeadership and Civic Service$440,000
Lansing Economic Area Partnership (LEAP)Eda Medtech Innovation$180,000
...and 4 more grants received

Personnel at VentureWell

NameTitleCompensation
Philip WeilersteinPresident and Chief Executive Officer / Executive Director and President$311,309
Jennifer HolmeChief of Staff , Assistant Secretary / Chief of Staff , SR.VP of Administration and Finance / Chief of Staff SR.VP of Administration and Finance / Chief of Staff and Vice President of Administration and Finance / Chief of Staff and Assistant Secretary / Vice President , Administration and Finance and Assistant Sec. / Vice President of Administration and Finance / Director of Finance and Administration / Vice President , Administration and Finance , Treas. / Vice President , Administration and Finance , Treasurer$230,366
Chris DesrosiersVice President of Finance
Ursa SchererVice President , People and Culture$198,792
Laura SampathVice President , Programs / Senior Program Officer , Global$217,858
...and 10 more key personnel

Financials for VentureWell

RevenuesFYE 06/2023
Total grants, contributions, etc.$4,725,919
Program services$88,491,570
Investment income and dividends$123,139
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-16,529
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$7,116
Total revenues$93,331,215

Form 990s for VentureWell

Fiscal year endingDate received by IRSFormPDF link
2023-062024-04-29990View PDF
2022-062023-05-10990View PDF
2021-062022-05-03990View PDF
2020-062021-05-11990View PDF
2019-062020-09-18990View PDF
...and 9 more Form 990s
Data update history
August 8, 2024
Posted financials
Added Form 990 for fiscal year 2023
July 23, 2024
Updated personnel
Identified 6 new personnel
July 10, 2024
Used new vendors
Identified 2 new vendors, including , and
January 3, 2024
Received grants
Identified 3 new grant, including a grant for $3,053,149 from Lemelson Foundation
December 23, 2023
Received grants
Identified 9 new grant, including a grant for $3,080,447 from Lemelson Foundation
Nonprofit Types
Grantmaking organizationsDisease research fundraisersSchoolsCharities
Issues
Education
Characteristics
Conducts researchOperates internationallyReceives government fundingTax deductible donationsAccepts online donations
General information
Address
100 Venture Way
Hadley, MA 01035
Metro area
Springfield, MA
County
Hampshire County, MA
Website URL
venturewell.org/ 
Phone
(413) 587-2172
Facebook page
VentureWell 
Twitter profile
@venturewell 
IRS details
EIN
42-1727335
Fiscal year end
June
Taxreturn type
Form 990
Year formed
2007
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B12: Education Fund Raising and Fund Distribution
NAICS code, primary
813212: Health and Disease Research Fundraising Organizations
Parent/child status
Independent
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