Organizations Filed Purposes:
CIT's mission is to promote economic development in Virginia by attracting and retaining high technology jobs and businesses.
ENTREPRENEUR PROGRAM - CIT RECOGNIZES THAT THE AVAILABILITY OF EARLY-STAGE CAPITAL IS A CRITICAL NEED OF MANY EMERGING TECHNOLOGY COMPANIES BY MAKING CONNECTION WITH "HARD TO ACCESS" PRIVATE AND FEDERAL FUNDING SOURCES. CIT'S GROWTH ACCELERATION PROGRAM (GAP) FUNDS MAKE SEED-STAGE EQUITY INVESTMENTS IN VIRGINIA-BASED TECHNOLOGY AND LIFE SCIENCE COMPANIES WITH A HIGH POTENTIAL FOR ACHIEVING RAPID GROWTH AND GENERATING SIGNIFICANT ECONOMIC RETURN. CIT'S COMMONWEALTH ENERGY FUND(CEF) MAKES SEED-STAGE EQUITY INVESTMENTS IN VIRGINIA-BASED ENERGY VENTURES THAT HAVE ACHIEVED A "COMMERCIALLY AVAILABLE", REVENUE-READY STAGE OF DEVELOPMENT CAPABLE OF SUSTAINING A HIGH-GROWTH BUSINESS MODEL WHILE GENERATING JOBS IN VIRGINIA. CIT'S FEDERAL FUNDING ASSISTANCE PROGRAM (FFAP) IDENTIFIES AND ACCELERATES OPPORTUNITIES FOR VIRGINIA'S SMALL TECHNOLOGY BUSINESSES TO OBTAIN SBIR, STTR AND ATP AWARDS AND OTHER GOVERNMENT CONTRACTS. THE CEF IS FUNDED BY A FEDERAL GRANT. THE GAP AND FFAP ARE FUNDED PRIMARILY BY APPROPRIATIONS RECEIVED FROM THE COMMONWEALTH OF VIRGINIA.
COMMONWEALTH SUPPORT PROGRAMS- CIT SUPPORTS A WIDE RANGE OF PROGRAMS DESIGNED TO ASSESS, DEVELOP AND IMPLEMENT INITIATIVES THAT ACCELERATE THE GROWTH OF VIRGINIA'S TECHNOLOGY DRIVEN ECONOMY. THESE INITIATIVES INCLUDE PROGRAMS THAT ARE DIRECTLY MANAGED BY CIT SUCH AS MACH37, THE NATION'S ONLY ACCELERATOR FOCUSED ON CREATING NEW CYBER SECURITY COMPANIES. INITIATIVES ALSO INCLUDE PROGRAMS IN WHICH CIT IS PRIMARY STAKEHOLDER, SUCH AS: THE ADVANCEMENT AND DEVELOPMENT OF THE UNMANNED SYSTEMS INDUSTRY
BROADBAND PROGRAM - THE MISSION OF CIT'S BROADBAND PROGRAM IS TO ACCELERATE THE SOCIO-ECONOMIC GROWTH OF VIRGINIA'S RURAL AND UNDERSERVED AREAS THROUGH THE APPLICATION AND USE OF BROADBAND TELECOMMUNICATIONS. CIT SUPPORTS THE OFFICE OF TELEWORK PROMOTION AND BROADBAND ASSISTANCE, WHICH RESIDES WITHIN THE OFFICE OF THE SECRETARY OF TECHNOLOGY. IN ADDITION, CIT IS VIRGINIA'S DESIGNATED ENTITY FOR THE AMERICAN RECOVERY AND REINVESTMENT ACT BROADBAND MAPPING AND PLANNING ACTIVITIES UNDER A FEDERAL G
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Peter J Jobse | President and CEO | 40 | $369,956 |
| Paul Mcgowan | VP, Consulting Services | 40 | $310,421 |
| Tom Weithman | Managing Director and VP | 40 | $281,074 |
| Linda E Gentry | Chief Financial Officer | 40 | $255,804 |
| David Ihrie | Chief Technology Officer | 40 | $227,836 |
| Karen Jackson | VP, Broadband Programs | 40 | $165,408 |
| Teresa Sullivan | Director | 1 | $0 |
| Charles W Steger | Director | 1 | $0 |
| Timothy D Sands | Director | 1 | $0 |
| Micheal Rao | Director | 1 | $0 |
| Don Rainey | Director | 1 | $0 |
| Maurice Jones | Director | 1 | $0 |
| Ray O Johnson | Director | 1 | $0 |
| Karen Jackson | Director | 1 | $0 |
| Wayne Hunter | Director | 1 | $0 |
| Anne Holton | Director | 1 | $0 |
| Terry Hsiao | Director | 1 | $0 |
| Eric J Hansen | Director | 1 | $0 |
| Laura Fornash | Director | 1 | $0 |
| Jim Duffey | Director | 1 | $0 |
| Jim Cheng | Director | 1 | $0 |
| Karen Booth Adams | Director | 1 | $0 |
| Hooks Johnston | Vice Chairman | 2 | $0 |
| Joseph P Doherty Jr | Vice Chairman | 2 | $0 |
| David C Lucien | Chairman | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201521349349302542_public.xml