2020-02-13T12:53:59-06:00 2019-06-30 540618213 HANTZMON WIEBEL LLP CPA'S 818 E JEFFERSON ST PO BOX 1408 CHARLOTTESVILLE VA 22902 990 2018-07-01 541045487 UNIVERSITY OF VIRGINIA PATENT FOUNDATION UNIV 4349242175 722 PRESTON AVENUE NO 107 CHARLOTTESVILLE VA 22903 MICHAEL P STRAIGHTIFF EXECUTIVE DIRECTOR 4349823703 2020-02-05 1 TRAVIS W SIMPSON P00481332 4342962156 64.88.174.3 2020-02-05 09:48:59 ES P 333ADFC4A8DCF07C63C112B8E9869636D289B0FC 4E68F485AE59DE8C41218FEB80293DF7611099D0 2018 2020-09-22 18:59:49Z UNIVERSITY OF VIRGINIA LICENSING & VENTURES GROUP MICHAEL P STRAIGHTIFF 722 PRESTON AVENUE NO 107 CHARLOTTESVILLE VA 22903 9657639 0 X LVG.VIRGINIA.EDU X 1978 VA 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. 10 5 24 5 0 0 4390635 4486361 3857284 5156779 2136 14499 0 0 8250055 9657639 1628753 2515499 0 0 2670328 2902916 0 0 0 3979171 4194823 8278252 9613238 -28197 44401 10184019 16011199 8840707 14623486 1343312 1387713 X 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. 0 0 3166198 1684766 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. 4820081 2515499 3472013 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. 516883 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. 286874 OTHER PROGRAM SERVICES: LVG PROVIDES A VARIETY OF OTHER PROGRAMS, GENERALLY AT THE REQUEST OF UVA. FOR THE FISCAL YEAR ENDED 2019, OTHER PROGRAM SERVICES INCLUDED THE MENINGEAL DRUG DISCOVERY PROGRAM AND OVERSIGHT OF THE UVA HEALTH SYSTEM VENTURE FUND. 286874 8790036 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 233 0 24 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X THE ORGANIZATION 4349242175 722 PRESTON AVENUE NO 107 CHARLOTTESVILLE VA 22903 ERIK HEWLETT DIRECTOR 1.00 X 0 0 0 DONALD LAING III DIRECTOR 1.00 X 0 0 0 MICHAEL LENOX DIRECTOR 1.00 40.00 X 0 437165 64456 JOHN MACFARLANE DIRECTOR 1.00 X 0 0 0 RONALD NEWBOLD DIRECTOR 1.00 X 0 0 0 PAMELA NORRIS DIRECTOR 1.00 40.00 X 0 323050 56920 MELUR RAMASUBRAMANIAN DIRECTOR 1.00 40.00 X 0 426195 46738 RICHARD SHANNON DIRECTOR 1.00 40.00 X 0 770956 504855 PETER GRANT II CHAIR 1.00 X 0 0 0 JOHN LAZO TREASURER 1.00 40.00 X 0 212794 27780 MICHAEL STRAIGHTIFF EXECUTIVE DIRECTOR 40.00 X 378648 0 50380 ROBERT CREEDEN MANAGING DIRECTOR,SEED FUND 40.00 X 198355 0 45061 ROBERT DECKER PATENT COUNSEL / SECRETARY 40.00 X 205369 0 45723 PATRICK KLEPCYK DIRECTOR OF LICENSING 40.00 X 171860 0 36473 RODNEY SPARKS PATENT COUNSEL 40.00 X 183520 0 43107 CLAUDINE WISPELWEY DIRECTOR OF OPERATIONS 40.00 X 149367 0 33248 1287119 2170160 954741 8 0 1 0 SCHWEGMAN LUNDBERG WOESSNER 1600 TCF TOWER 121 SOUTH 8TH ST MINNEAPOLIS MN 55402 OUTSIDE PATENT COUNSEL 367850 BUCHANAN INGERSOLL & ROONEY PC 1700 K STREET NW SUITE 700 WASHINGTON DC 200063807 OUTSIDE PATENT COUNSEL 238647 MEUNIER CARLING & CURFMAN LLC 999 PEACHTREE ST NE SUITE 1300 ATLANTA GA 30309 OUTSIDE PATENT COUNSEL 166459 WESTERMAN HATTORI DANIELS & ADRIAN LLP 8500 LEESBURG PIKE SUITE 7500 TYSONS VA 22182 OUTSIDE PATENT COUNSEL 159777 VORYS SATER SEYMOUR AND PEASE 1909 K STREET NW SUITE 900 WASHINGTON DC 200061152 OUTSIDE PATENT COUNSEL 146148 6 4486361 4486361 LICENSE FEES & ROYALTI 900099 3472013 3472013 PATENT COSTS REIMBURSE 900099 1684766 1684766 5156779 14499 14499 9657639 5156779 0 14499 2515499 2515499 453357 249347 204010 1890541 1584191 306350 174033 138293 35740 245343 196060 49283 139642 111191 28451 59142 56248 2894 42270 42270 4323 4323 27482 24271 3211 37355 30116 7239 98560 74260 24300 949825 949825 245346 185435 59911 64641 47792 16849 62362 46985 15377 37959 25555 12404 PATENT DEVELOPMENT COST 2281680 2281680 CONSULTING FEES 227732 227732 INTERNS & FUND FELLOWS 24686 21163 3523 UNCOLLECTIBLE ROYALTY & 15816 15816 15644 8577 7067 9613238 8790036 823202 0 200 200 1674979 4348062 2183986 1544761 219967 223750 629330 466701 188816 162629 5916071 9731797 10184019 16011199 1351903 2610268 223969 84995 7264835 11928223 8840707 14623486 X 1343312 1387713 1343312 1387713 10184019 16011199 44401 0 X X 0 1 X 1 0 X X 1 UNIVERSITY OF VIRGINIA 546001796 6 1 8790036 0 1 8790036 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X SCHEDULE A, PART VI, SECTION E, LINE 1C 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. IF THESE ACTIVITIES WERE NOT PERFORMED BY THE FOUNDATION, THEY WOULD BE PERFORMED BY THE UNIVERSITY. ALL EXPENSES INCURRED FOR EXECUTING THESE ACTIVITIES ARE FOR THE BENEFIT OF THE UNIVERSITY, AND CONSEQUENTLY, FOR THEIR SUPPORT. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36922 4908 32014 115792 91426 24366 476616 370367 106249 162629 RESTRICTED CASH 721 DEPOSIT 14583 PREPAID ROYALTY DISTRIBUTIONS 243131 INVESTMENTS HELD FOR VENTURE FUND 6425000 INVESTMENTS HELD FOR UVA LVG SEED FUND 3048362 9731797 DISTRIBUTIONS PAYABLE TO UVA 600083 DISTRIBUTIONS PAYABLE TO I&SA FUND 809926 DISTRIBUTIONS PAYABLE TO INVENTORS 712029 DISTRIBUTIONS PAYABLE TO OTHERS 19856 ACCRUED VACATION 54115 LAWYERS' ESCROW ACCOUNT 721 FEES AND ROYALTIES RECEIVED IN ADVANCE 258131 INVESTMENTS HELD FOR VENTURE FUND 6425000 INVESTMENTS HELD FOR UVA LVG SEED FUND 3048362 11928223 X 9657639 0 9657639 0 9657639 9613238 0 9613238 0 9613238 PART X, LINE 2: THE FOUNDATION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE FOUNDATION. 1 UNIVERSITY OF VIRGINIA UNIVERSITY AVENUE CHARLOTTESVILLE VA 22902 546001796 170(B)(1)(A)(VI) 2515499 THE FOUNDATION IS A SUPPORTING ORGANIZATION FOR THE UNIVERSITY OF VIRGINIA. THE AMOUNT OF CASH PAID TO THE UNIVERSITY FOR DISTRIBUTIONS OF ROYALITIES TO THE INNOVATION & SCHOLARLY ACTIVITIES FUND AND TO THE UNIVERSITY IS BASED ON THE AGREEMENT BETWEEN THE FOUNDATION AND THE UNIVERSITY OF VIRGINIA. THE PAYMENT DOES NOT INCLUDE ANY REFUND FOR OVERPAYMENT OF FEES FOR SERVICES RENDERED. 1 0 PART I, LINE 2: THE AMOUNT OF SUPPORT PROVIDED TO THE UNIVERSITY OF VIRGINIA IS DETERMINED BY THE FOUNDATION'S TOTAL PROGRAM SERVICE EXPENSES. THE FOUNDATION IS FUNCTIONALLY INTEGRATED AND ALL PROGRAM EXPENSES INCURRED ARE FOR THE BENEFIT OF THE UNIVERSITY OF VIRGINIA, AND CONSEQUENTLY, FOR THEIR SUPPORT. X X 0 0 0 0 0 0 0 0 0 MICHAEL LENOX DIRECTOR 0 429574 0 5000 0 2591 0 41365 0 23091 0 501621 0 0 PAMELA NORRIS DIRECTOR 0 313993 0 7068 0 1989 0 33342 0 23578 0 379970 0 0 MELUR RAMASUBRAMANIAN DIRECTOR 0 337243 0 85000 0 3952 0 30638 0 16100 0 472933 0 0 RICHARD SHANNON DIRECTOR 0 765073 0 0 0 5883 0 474211 0 30644 0 1275811 0 0 JOHN LAZO TREASURER 0 210174 0 0 0 2620 0 18868 0 8912 0 240574 0 0 MICHAEL STRAIGHTIFF EXECUTIVE DIRECTOR 378648 0 0 0 0 0 34307 0 16073 0 429028 0 0 0 ROBERT CREEDEN MANAGING DIRECTOR,SEED FUND 198355 0 0 0 0 0 20800 0 24261 0 243416 0 0 0 ROBERT DECKER PATENT COUNSEL / SECRETARY 205369 0 0 0 0 0 20665 0 25058 0 251092 0 0 0 PATRICK KLEPCYK DIRECTOR OF LICENSING 171860 0 0 0 0 0 18096 0 18377 0 208333 0 0 0 RODNEY SPARKS PATENT COUNSEL 183520 0 0 0 0 0 18751 0 24356 0 226627 0 0 0 CLAUDINE WISPELWEY DIRECTOR OF OPERATIONS 149367 0 0 0 0 0 15704 0 17544 0 182615 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LVG'S CONFLICT OF INTEREST POLICY STATES THAT EACH MEMBER OF THE BOARD OF DIRECTORS SUBMIT A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S SALARY IS DETERMINED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD. KEY EMPLOYEE'S SALARIES ARE DETERMINED BY THE EXECUTIVE DIRECTOR AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 18 FORMS 1023 AND 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII THE FOUNDATION'S BOARD OF DIRECTORS HAS AN AUDIT COMMITTEE THAT IS RESPONSIBLE FOR SELECTION AND RETENTION OF THE INDEPENDENT AUDITORS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEARS. FORM 990 PART VII AND SCHEDULE J PART II CERTAIN DIRECTORS ARE FULL TIME EMPLOYEES OF THE UNIVERSITY OF VIRGINIA, THE SUPPORTED ORGANIZATION. COMPENSATION PAID BY THE UNIVERSITY OF VIRGINIA FOR THESE DIRECTORS IS REPORTED ON FORM 990 PART VII AND SCHEDULE J PART II. FORM 990, PART VII AND SCHEDULE J, PART II FOUR OF THE FOUNDATION'S BOARD MEMBERS ARE APPOINTED BY THE UNIVERSITY OF VIRGINIA. NUMEROUS OTHER BOARD MEMBERS ARE AFFILIATED WITH THE UNIVERSITY. SCHEDULE A, PART I, LINE 11G, COLUMN V THE AMOUNT OF SUPPORT PROVIDED TO THE UNIVERSITY OF VIRGINIA IS DETERMINED BY THE FOUNDATION'S TOTAL PROGRAM SERVICE EXPENSES. THE FOUNDATION IS FUNCTIONALLY INTEGRATED AND ALL PROGRAM EXPENSES INCURRED ARE FOR THE BENEFIT OF THE UNIVERSITY OF VIRGINIA, AND CONSEQUENTLY, FOR THEIR SUPPORT. UVA APPS LLC 722 PRESTON AVENUE SUITE 107 CHARLOTTESVILLE VA 22903 465427394 LICENSING OF INTERNET APPLICATIONS VA 0 1694 UNIVERSITY OF VIRGINIA PATENT FOUNDATION DBA UNIVERSITY OF VIRGINIA LICENSI UNIVERSITY OF VIRGINIA (RECTOR & BOARD) UNIVERSITY AVENUE CHARLOTTESVILLE VA 22902 546001796 PROMOTE & AID SCIENTIFIC INVESTIGATION & RESEARCH AT UNIVERSITY OF VIRGINIA VA SECTION 170(B)(1)(A) 6 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0