UNIVERSITY OF VIRGINIA PATENT FOUNDATION
722 PRESTON AVENUE NO 107, CHARLOTTESVILLE, VA 22903 lvg.virginia.edu

Total Revenue
$9,657,639
Total Expenses
$9,613,238
Net Assets
$1,387,713

Organizations Filed Purposes: TO MAXIMIZE THE IMPACT OF UVA'S INNOVATION ASSETS VIA COMMERCIALIZATION, WHILE PROVIDING HIGH LEVELS OF CUSTOMER SERVICE, VALUE-ADDED BUSINESS DEVELOPMENT, NEW VENTURE CREATION, AND A FOCUS ON DRIVING QUALITY TRANSACTIONS.

THE PRINCIPAL ACTIVITY OF THE FOUNDATION IS TO SUPPORT THE UNIVERSITY'S MISSION TO "ADVANCE KNOWLEDGE AND SERVE THE COMMONWEALTH OF VIRGINIA, THE NATION, AND THE WORLD THROUGH... INNOVATION" VIA COMMERCIALIZATION OF UNIVERSITY RESEARCH AND INTELLECTUAL PROPERTY. THIS ACTIVITY INCLUDES SUPPORTING THE UNIVERSITY'S INDUSTRY AND TRANSLATIONAL RESEARCH INITIATIVES; PERFORMING DUE-DILIGENCE ON SOLICITED AND DISCLOSED INTELLECTUAL PROPERTY; PREPARING AND FILING PATENT APPLICATIONS, COPYRIGHTS, AND TRADEMARKS; ENGAGING IN BUSINESS DEVELOPMENT; NEGOTIATING AND EXECUTING LICENSE AGREEMENTS; SUPPORTING NEW VENTURE CREATION; INVESTING IN UVA PORTFOLIO COMPANIES; MONITORING COMPLIANCE; AND DISTRIBUTING INCOME.

PATENTING: THE PATENTING DEPARTMENT PREPARES AND FILES PATENT APPLICATIONS. DURING THE FISCAL YEAR ENDED 2019, THE UNIVERSITY OF VIRGINIA PATENT FOUNDATION D/B/A UNIVERSITY OF VIRGINIA LICENSING AND VENTURES GROUP (LVG OR THE FOUNDATION) PREPARED AND FILED 125 U.S. PROVISIONAL PATENT APPLICATIONS AND WAS ISSUED 128 PATENTS, 52 OF WHICH WERE U.S. PATENTS.

LICENSING: THE LICENSING DEPARTMENT EVALUATES, MARKETS, AND LICENSES INVENTIONS. DURING THE FISCAL YEAR ENDED 2019, LVG SOLICITED 238 INVENTION DISCLSOURES FROM UVA FACULTY, STAFF, AND STUDENT INVENTORS AND EXECUTED 78 COMMERCIAL TRANSACTIONS.

NEW VENTURES: LVG PROVIDES RESOURCES AND EXPERTISE TO SUPPORT THE ENTREPRENEURIAL AND INVESTMENT PROCESS. DURING THE FISCAL YEAR ENDED 2019, LVG HELPED LAUNCH 9 NEW VENTURES. ADDITIONALLY, LVG MANAGES AN INNOVATION FUND, WHICH IS COMPRISED OF SEED FUNDING AND VENTURE FUNDING, IN COLLABORATION WITH THE UNIVERSITY OF VIRGINIA AND THE UNIVERSITY OF VIRGINIA HEALTH SYSTEM.

Executives Listed on Filing

Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing

NameTitleHours Per WeekTotal Salary
Michael StraightiffEXECUTIVE DIRECTOR40$378,648
Robert DeckerPATENT COUNSEL / SECRETARY40$205,369
Robert CreedenMANAGING DIRECTOR,SEED FUND40$198,355
Rodney SparksPATENT COUNSEL40$183,520
Patrick KlepcykDIRECTOR OF LICENSING40$171,860
Claudine WispelweyDIRECTOR OF OPERATIONS40$149,367
John LazoTREASURER1$0
Peter Grant IiCHAIR1$0
Richard ShannonDIRECTOR1$0
Melur RamasubramanianDIRECTOR1$0
Pamela NorrisDIRECTOR1$0
Ronald NewboldDIRECTOR1$0
John MacfarlaneDIRECTOR1$0
Michael LenoxDIRECTOR1$0
Donald Laing IiiDIRECTOR1$0
Erik HewlettDIRECTOR1$0

Data for this page was sourced from XML published by IRS (public 990 form dataset) from: https://s3.amazonaws.com/irs-form-990/202010449349301211_public.xml