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Filing year 2023

VMI RESEARCH LABORATORIES

Lexington, Virginia·EIN 54-0737652·3
Total revenue
$3.1M
Total assets
$1.8M
Total expenses
$3.1M
Reported officers
12
Mission

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. INTIMATELY BOUND WITH THIS GOAL ARE OTHER BENEFITS INCLUDING: ENHANCING THE REPUTATION OF THE INSTITUTE AS A CONTRIBUTOR TO THE GENERAL BETTERMENT OF THE STATE AND NATION; ALLOWING FACULTY MEMBERS TO WORK CREATIVELY AND INDEPENDENTLY IN THEIR FIELDS OF INTEREST AND REPORT THEREON; ENHANCING THE OPPORTUNITY FOR CADETS TO ASSIST IN RESEARCH ACTIVITY WITH THE FACULTY AND, FINALLY, TO PROVIDE A MEANS OF FINANCIAL ASSISTANCE TO FACULTY AND CADETS IN THE FORM OF PART TIME AND/OR FULL TIME SUMMER EMPLOYMENT.

Executive compensation

Form 990 · Schedule J · 3 reported individuals · Filing year 2023

Treasurer/contractual Offi
$37k
$40k
Director of Research
director (operational)
$7k
$7k
Secretary
secretary (operational)
$2k
$3k

Teal figures restate each filed amount in 2026 dollars.

Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Plus 9 unpaid individuals.

Up 52%
from 2022

From $24k in 2022 to $37k in 2023.

$24k
2022
$37k
2023
In today's dollarsEst.
Up 45% in real terms$28k to $40k

Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend

Revenue and expenses over time

VMI RESEARCH LABORATORIES reported revenue and expenses across 2 filing years.

RevenueExpenses
$2.4M
$2.6M
2022
$3.1M
$3.1M
2023
Total revenue and total expenses from IRS Form 990 filings.
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