V M I Research Laboratories

Tax-deductible

Lexington, VA501(c)(3)Since 1963EIN 54-0737652Revenue $2.1M in FY2024

On file with the IRSvmi.edu/vmirlVirginia Military Institute, 24450-0000 · Lexington, VATax-exempt since May 1967Publicly supported charity — 170(b)(1)(A)(vi)

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VMI RESEARCH LABS EXISTS TO SERVE AS THE RESEARCH AND DEVELOPMENT ARM OF THE VIRGINIA MILITARY INSTITUTE. ITS PURPOSE IS TO IMPROVE THE EFFECTIVENESS OF AND TO AID DIRECTLY OR INDIRECTLY VMI'S PRIME MISSION - EDUCATION OF THE UNDERGRADUATE STUDENT. (Continued on Schedule O)

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Run by 8 volunteers and 61 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $13K a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$56K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1.6M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
57% of total assets
Fine: liabilities are 57% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
-30% vs prior year
Spent
$2.2M
To programs
93%
Net assets
$876K
By yearFY2021–FY2024
Revenue
$2.1M
FY2024▼ -30%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.1M
FY2022$2.4M
FY2023$2.4M
FY2024$3.1M
FY2024$2.1M
Expenses
$2.2M
FY2024▼ -30%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.0M
FY2022$2.2M
FY2023$2.6M
FY2024$3.1M
FY2024$2.2M
Net assets
$876K
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2021$814K
FY2022$972K
FY2023$793K
FY2024$838K
FY2024$876K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1967.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $2.0M Management & general 7% · $155K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $56K paid to officers and key staff.

Part VII, Section A · reportable compensation
Treasurer/ Contractual Officer
$46,700Pt VII · Sec A
Director of Research
$6,600Pt VII · Sec A
Secreatary
$2,400Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Angie Fafatas$46,700$36,575$24,116$16,603$15,558
Wade E Bell$6,600$6,600$6,600$6,600$6,600
Anne Alerding$2,400$2,400$2,400$2,400$2,400

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Conducts research and provides educational programs.

Provided by the organization

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2 programs · $2.0M · in their own filed words · FY2024
01

Projects in collaboration with the united states department of agriculture, the united states army, the united states navy, the united states air force, nasa, nsa, the national science foundation, the virginia department of wildlife resources, the university of wyoming, commonwealth cyber initiative, virginia alliance for semiconductor…

$1.8Mprogram expense
02

Educational activities including international initiatives.

$248Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$1.6M
Grants paid · 5 grants · $1.8M · 2020–2024
Unitemized GrantFY2024$37,684
Unitemized GrantFY2023$547,248
Unitemized GrantFY2022$488,776
Unitemized GrantFY2021$613,108
Unitemized GrantFY2020$130,553

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$2.0M
Fees for servicesLn 2g$129K
Investment incomeLn 3$8K
Money outPt IX
$2.2M
Ln 25
Programscol B$2.0M
Managementcol C$155K
Owns and owesPt X
$876K
net assets · Ln 32
Cash and savingsLn 1–2$791K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
11
listed · VII A
PaidVII A3
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$2.0M
Fees for servicesLn 2g$129K
Investment incomeLn 3$8K
Other incomeLn 4–11$72
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$255K
SavingsLn 2$536K
Cash and savings togetherLn 1–2$791K
InvestmentsLn 11–13$565K
Land, buildings, equipmentLn 10c$19K
Other assetsLn 15$0
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.1M
Net assetsLn 32$876K
OperationsPt I, VI
EmployeesI 561
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$395K$791K
InvestmentsLn 11–13$494K$565K
Land, buildings, equipmentLn 10c$57K$19K
Total assetsLn 16$1.8M$2.0M
LiabilitiesLn 26$937K$1.1M
Net assetsLn 32$838K$876K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$38K$38K
Pay of current officers, directors and key staffLn 5$56K$56K
Other salaries and wagesLn 7$743K$743K
Other employee benefitsLn 9$140K$140K
Payroll taxesLn 10$171K$168K$4K
Other fees for servicesLn 11g$558K$552K$6K$0
Office expensesLn 13$15K$13K$1K
Information technologyLn 14$13K$11K$3K
TravelLn 17$148K$148K
Depreciation, depletion and amortizationLn 22$38K$38K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$230K$145K$85K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$2.2M$2.0M$155K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $3.1M$3.1M−$36K$838K 990 PDF
FY2023 $2.4M$2.6M−$230K$793K 990 PDF
FY2022 $2.4M$2.2M$203K$972K 990 PDF
FY2021 $1.1M$1.0M$114K$814K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,129,593 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,991,875
I-9 Program service revenuePrior year $3,043,249$129,346
I-10 Investment incomePrior year $7,829$8,300
I-11 Other revenuePrior year $0$72
I-12 Total revenuePrior year $3,051,078$2,129,593
I-13 Grants and similar amounts paidPrior year $547,248$37,684
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,323,948$1,110,961
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,216,325$1,004,354
I-18 Total expensesPrior year $3,087,521$2,152,999
I-19 Revenue less expensesPrior year −$36,443−$23,406
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,129,593 across 6 lines filed
VIII-1e Government grants$1,991,875
VIII-1h Total contributions, gifts and grants$1,991,875
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $129,346$129,346
VIII-3 Investment incomeExcluded from tax $8,300$8,300
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $72$72
VIII-12 Total revenueRelated to mission $129,346 · Unrelated business $0 · Excluded from tax $8,372$2,129,593
Part IX · Statement of functional expenses $2,152,999 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $37,684$37,684
IX-5 Pay of current officers, directors and key staffManagement $55,700$55,700
IX-7 Other salaries and wagesPrograms $743,382$743,382
IX-9 Other employee benefitsPrograms $140,380$140,380
IX-10 Payroll taxesPrograms $167,600 · Management $3,899$171,499
IX-11g Other fees for servicesPrograms $552,170 · Management $5,876 · Fundraising $0$558,046
IX-13 Office expensesPrograms $13,379 · Management $1,477$14,856
IX-14 Information technologyPrograms $10,605 · Management $2,629$13,234
IX-17 TravelPrograms $147,886$147,886
IX-22 Depreciation, depletion and amortizationPrograms $38,265$38,265
IX-23 InsurancePrograms $1,773$1,773
IX-24 Other expenses (24a–d)Programs $145,086 · Management $85,208$230,294
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $1,998,210 · Management $154,789 · Fundraising $0$2,152,999
Part X · Balance sheet $2,025,981 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $16,305$254,787
X-2 Savings and temporary cash investmentsStart of year $378,912$535,963
X-3 Pledges and grants receivableStart of year $700,505$530,850
X-4 Accounts receivableStart of year $121,710$120,507
X-9 Prepaid expenses and deferred chargesStart of year $6,196$541
X-10c Land, buildings and equipment, netStart of year $56,792$18,527
X-11 Publicly traded securitiesStart of year $494,348$564,806
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $1,774,768$2,025,981
X-17 Accounts payable and accrued expensesStart of year $124,645$41,196
X-25 Other liabilitiesStart of year $812,533$1,108,392
X-26 Total liabilitiesStart of year $937,178$1,149,588
X-27 Net assets without donor restrictionsStart of year $613,959$721,035
X-28 Net assets with donor restrictionsStart of year $223,631$155,358
X-32 Total net assets or fund balancesStart of year $837,590$876,393
X-33 Total liabilities and net assetsStart of year $1,774,768$2,025,981
Part XI · Reconciliation of net assets $876,393 net assets at year end
XI-1 Total revenue$2,129,593
XI-2 Total expenses$2,152,999
XI-3 Revenue less expenses−$23,406
XI-4 Net assets at start of year$837,590
XI-5 Net unrealized gains (losses) on investments$62,209
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$876,393

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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