NPC Highlights: Annual Report to Congress

CMR 15 - 24

Highlights of the Executive Summary of the
Department of Veterans Affairs (VA)
2014 Nonprofit Corporations (NPC) Annual Report
(based upon reports submitted in June 2015)

General

• All 83 of the NPCs submitted annual reports.
• 99 percent of NPC revenues were subject to outside independent audits (14 NPCs either fell below the amount that triggers the annual audit requirement or fell within the 3 year intervening period); and
• 45 NPCs reported increased overall revenue in 2014, compared to 47 in fiscal year 2013.

Revenues

Revenue Sources	2014	2013	% Change
Private	$ 73,809,000	$ 74,867,000	-1%
Governmental	191,964,000	187,759,000	+2%
Other	2,226,000	2,305,000	-3%
Total NPC Revenues	$ 267,999,000	$ 264,931,000	+1%

2014 Revenue Type	Research	Education	Other - general revenue (i.e., interest income)
	$264.1 million (98%)	$1.9 million (1%)	$2.0 million (1%)

Revenue Range	# of NPCs - 2014	# of NPCs - 2013	# of NPCs - 2012
Below $500K	29 (36%)	27 (33%)	32 (40%)
$500K - $1M	12 (14%)	15 (18%)	10 (12%)
$1M - $10M	35 (42%)	34 (41%)	33 (41%)
$10M and Above	7 ( 8%)	7 ( 8%)	6 ( 7%)
Total NPCs	83	83	81

Expenses

	2014	2013	% Change
Total NPC Expenditures	$268.1 million	$262.1 million	+2%

Selected NPC activities other than direct support for research projects and education activities:

• Renovate and upgrade VA research infrastructure;
• Provide funds, staffing, and training support to VA and affiliate universities to help cover Institutional Review Board requirements;
• Pay for expenses related to recruitment of research investigators to the VA system;
• Fund seed grants to new investigators to aid them in establishing their VA research careers;
• Employ support staff for VA research projects;
• Cover the cost of training VA research personnel in topics such as research compliance, good clinical practice, and board governance;
• Underwrite bridge funding for VA investigators who are between research grant awards;
• Support travel and registration fees for VA investigators to attend scientific conferences;
• Procure personnel, equipment, and supplies for VA animal research facilities;
• Provide funds for research pharmaceutical staff and equipment; and
• Host national educational conferences for VA personnel with incidental attendance by health professionals from surrounding communities.

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