Ncinnovation Inc
Ncinnovation Inc is a public charity based in Research Triangle Park, North Carolina. It supports university research moving toward commercialization through grants and related commercialization support, with an emphasis on creating economic opportunity in North Carolina.
Ncinnovation Inc at a glance
In short: Ncinnovation Inc gave $9.9M across 22 grants in 2025 (avg $450K), mostly in North Carolina. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $9,895,927
- +238.4% vs 2024
- Grants made (2025)
- 22
- +214.3% vs 2024
- Average grant
- $449,815
- +7.7% vs 2024
- Median grant
- $427,561
- Total assets
- $534,287,080
- +95.8% vs 2024
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to Ncinnovation Inc
- How to Apply
-
Applicants are instructed to confirm eligibility before applying, then access the grant application portal and review available opportunities. The website describes an eligibility request, account registration or login, and selection of an open opportunity.
- Contact
Mailing address: 4000 Sancar Way 400, Research Triangle Park, NC 27713
Phone: (919) 424-7262
Website: https://ncinnovation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Ncinnovation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Appalachian State University ($1.8M across 2 grants). Together the top 10 received $8.6M.
Grant Size Distribution
29 grants across all recorded years
The most common grant size was in the $250–500K range: 14 grants of 29 (48%).
Geographic Focus
Where this funder awards grants
NCInnovation’s stated mission encompasses all 100 counties in North Carolina. Its website describes a statewide network of university-based hubs across four regions: East, West, Piedmont, and Charlotte. In filing year 2025, all reported grant dollars went to North Carolina recipients.
Grant Distribution by State
Share of 2025 grant dollars across all 22 itemized grants.
States
Cities
How Ncinnovation Inc gives
- 21% of 2025 grantees were also funded in 2024. Method
Estimate from itemized grant lists in IRS Form 990 filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2024 to 2025, annual grant giving ranged from $2.9M (2024) to $9.9M (2025). In 2025 it made 22 grants totaling $9.9M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Appalachian State University Boone, NC | Ai Microscopy for Livestock Intestinal Parasite Detection | $1,195,106 |
| UNC Charlotte Charlotte, NC | Pancreatic Cancer Therapeutic | $671,357 |
| Winston-Salem State University Winston-Salem, NC | Ai-Enabled Saas Clinical Training Platform for Nurses | $655,400 |
| Appalachian State University Boone, NC | Beehive Improvement and Monitoring System | $641,951 |
| Fayetteville State University Fayetteville, NC | Hemp-based bio pesticide for use in commercial poultry houses | $627,523 |
| UNC Wilmington Wilmington, NC | Vaccine Development | $532,647 |
| Eastern Carolina University Greenville, NC | Oncology - Melanoma | $532,000 |
| UNC Chapel Hill Chapel Hill, NC | Treatment for Lung Fibrosis | $514,877 |
| UNC Chapel Hill Chapel Hill, NC | Ultrasound for Rural Settings | $500,000 |
| UNC Charlotte Charlotte, NC | Vaccine Cold Storage | $451,050 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $534,287,080 | $272,126,634 | $19,108,008 | $9,895,927 | 22 | $22,126,634 |
| 2024 | $272,938,913 | $259,079,795 | $8,161,864 | $2,924,550 | 7 | $5,899,795 |
| 2023 | $18,408,832 | $10,283,256 | $2,153,367 | — | — | $62,256 |
| 2022 | $4,795,472 | $1,750,000 | $397,780 | — | — | — |
| 2021 | $3,583,262 | $3,600,000 | $245,800 | — | — | — |
| 2020 | $100,991 | $100,000 | $10,948 | — | — | — |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
NCInnovation’s stated mission is to commercialize and scale innovation to create jobs and improve economic opportunity in all 100 North Carolina counties. Its website says it funds applied research and supports the transition of university technologies from academia toward commercial viability, including through business development services and coordination with universities and the private sector.
The funder’s 2025 grants went to North Carolina universities for projects including livestock parasite detection, cancer therapeutics, clinical training, beehive monitoring, vaccine development and storage, rural ultrasound, and infectious disease research. The grantees describe their own missions in varied terms: Appalachian State University’s foundation says it supports the university’s students, faculty, staff, and community; Fayetteville State University describes its mission as business development using a business incubator for the area surrounding campus; Western Carolina University’s stated mission is to aid and promote education and charitable activities at the university; and the NC State organizations receiving grants say they support the university’s colleges, libraries, and other university-connected functions.
Grantmaking
In filing year 2025, NCInnovation reported 22 grants totaling $9,895,927. Grant amounts ranged from $102,600 to $1,195,106, with a median of $427,561. All reported grant dollars went to recipients in North Carolina.
Among the largest 2025 awards were $1,195,106 to Appalachian State University for AI microscopy to detect livestock intestinal parasites; $671,357 to UNC Charlotte for a pancreatic cancer therapeutic; $655,400 to Winston-Salem State University for an AI-enabled clinical training platform for nurses; and $641,951 to Appalachian State University for a beehive improvement and monitoring system. Other large awards included $627,523 to Fayetteville State University for a hemp-based biopesticide for commercial poultry houses, $532,647 to UNC Wilmington for vaccine development, and $514,877 to UNC Chapel Hill for a treatment for lung fibrosis. NCInnovation also reported awards to NC State University organizations of $358,448 and $221,390.
NCInnovation’s filing describes a spring grant cycle in May 2025 and a fall cycle in December 2025. Its website says awards are generally expected to fall between $200,000 and $1 million, though award amounts may vary. Core grants are described as two-year, milestone-based awards, with funding released in tranches when milestones are met. The website says applied researchers at all 16 UNC System universities are eligible; North Carolina Community Colleges System institutions are also eligible, with community colleges currently advised to partner with one or more universities. Private companies cannot serve as lead institutions. Proposals must define technology at Technology Readiness Level 3 or higher. NCInnovation states that it is industry agnostic and prioritizes projects with strong commercialization potential and economic impact in North Carolina.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Kelly King as chair, Kirk Bradley as vice chair, and Blannie Miller as secretary. It also lists Art Pope, Ben Teague, J. Cantey Alexander, Jeff Turner, and Kelly Fuller as board members. Beth Friedrich is listed as a board member through November 13, 2024, and Deanna Ballard as a board member beginning July 11, 2024.
Ncinnovation Inc is led by J. Bennet Waters, President & CEO on filings since 2022; 9 of 23 officers listed in 2025 are compensated.
Officers on the 2025 filing
J. Bennet Waters
President & CEO
On filings since 2022
40 hrs/week
$597K (2024) → $611K (2025)
Kelly King
Chair
Board Chair → Chair, 2024
On filings since 2023
1 hr/week
No compensation reported
Louis Judge III
Senior Regional Innovation Director
New on the 2025 filing
40 hrs/week
$139K (2025)
M. Derrick Welch
Senior Regional Innovation Director
New on the 2025 filing
40 hrs/week
$141K (2025)
Mary Lou Bourne
Senior Regional Innovation Director
New on the 2025 filing
40 hrs/week
$139K (2025)
Kelly Fuller
Board Member
On filings since 2023
1 hr/week
$180K (2023) → $0 (2025)
Michelle Bolas
Executive Vice President & CIO
Executive Vice President → Executive Vice President & CIO, 2024
On filings since 2023
40 hrs/week
$338K (2024) → $406K (2025)
Josh Howard
Senior Vice President & Chief Risk Officer
On filings since 2024
40 hrs/week
$277K (2025)
Linda Hall
Executive Vice President & CFO
On filings since 2024
40 hrs/week
$235K (2025)
Erica Shrader
Vice President & Corporate Affairs
New on the 2025 filing
40 hrs/week
$174K (2025)
Erin Hopper
Vice President, Grants & Research
New on the 2025 filing
40 hrs/week
$182K (2025)
Kirk Bradley
Vice Chair
President → Board Vice Chair, 2023
Board Vice Chair → Vice Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Stan Kelly
Board Member
On filings since 2023
1 hr/week
No compensation reported
Ven Poole
Board Member
On filings since 2023
1 hr/week
No compensation reported
Art Pope
Board Member
On filings since 2024
1 hr/week
No compensation reported
Ben Teague
Board Member
On filings since 2024
1 hr/week
No compensation reported
Beth Friedrich
Board Member
On filings since 2024
1 hr/week
No compensation reported
Blannie Miller
Secretary
On filings since 2024
1 hr/week
No compensation reported
J. Cantey Alexander
Board Member
On filings since 2024
1 hr/week
No compensation reported
Jeff Turner
Board Member
On filings since 2024
1 hr/week
No compensation reported
Todd Kasper
Board Member
On filings since 2024
1 hr/week
No compensation reported
Deanna Ballard
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Wayne Sasser
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (11)
- Former: Jeff Sural (2024) — Senior Vice President & Chief Strategy Officer · Filing note: Thru 93023
- Former: Bennet Waters (2023) — Executive Officio President & CEO
- Former: Bob Ingram (2023) — Board Chair
- Former: Harold Martin Sr. PhD (2023) — Board Member
- Former: Kelli Brown (2023) — Board Member
- Former: Lonnie C. Poole III (2023) — Board Member
- Former: Peter Hans (2023) — Board Member
- Former: Philip Rogers (2023) — Board Member
- Former: Sharon Gaber PhD (2023) — Board Member
- Former: Jack Bailey (2020–2022) — Vice President
- Former: Neal Fowler (2020–2022) — Secretary & Treasurer
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $611K, to J Bennet Waters (President & CEO). 9 officers or directors reported compensation on that filing.
Frequently asked questions about Ncinnovation Inc
How much does Ncinnovation Inc give each year?
Ncinnovation Inc gave $9.9M across 22 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $2.9M across 7 grants.
What is Ncinnovation Inc's typical grant size?
Ncinnovation Inc's median grant in 2025 was $427,561, and its average grant was $449,815, across 22 grants on its 2025 IRS Form 990.
Where does Ncinnovation Inc give grants?
Ncinnovation Inc gives mostly in North Carolina: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Greensboro, NC (4 grants), Greenville, NC (3 grants), Boone, NC (2 grants) and Charlotte, NC (2 grants).
Does Ncinnovation Inc give general operating support?
Not in 2025: none of the 22 grants with a stated purpose on Ncinnovation Inc's 2025 IRS Form 990 were described as general or operating support.
Who are Ncinnovation Inc's largest grantees?
Ncinnovation Inc's largest 2025 grantees include Appalachian State University ($1,837,057 across 2 grants), Eastern Carolina University ($1,129,852 across 3 grants) and UNC Charlotte ($1,122,407 across 2 grants), according to its 2025 IRS Form 990. Together they received 41% of its itemized 2025 grant dollars.
How large is Ncinnovation Inc?
Ncinnovation Inc reported $534.3M in total assets on its 2025 IRS Form 990. Its revenue that year was $272.1M.
What does Ncinnovation Inc fund?
NCInnovation’s stated mission is to commercialize and scale innovation to create jobs and improve economic opportunity in all 100 North Carolina counties. See mission & focus areas ↑
How do I apply for a grant from Ncinnovation Inc?
Applicants are instructed to confirm eligibility before applying, then access the grant application portal and review available opportunities. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Ncinnovation Inc's EIN?
Ncinnovation Inc's EIN (Employer Identification Number) is 84-4902334. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2024 (received by the IRS September 9, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Ncinnovation Inc funds
Education Open opportunities, soonest deadline first.
- Creative Impact Grants $500 - $2,500 · Due October 19, 2026
- Community and School Grants $28,000 total pool; 10-15 grants expected · Due October 19, 2026
- Mary Pinola/Crescenta Valley Chamber Education Fund $500 - $5,000 for ongoing programs; up to $15,000 for Strategic Initiative Grants · Due October 19, 2026
Explore Open Grants
Browse active grant opportunities in Ncinnovation Inc's focus areas in our free grants database
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More similar funders
More Funders in North Carolina
Cite this profile
Grantable. (2026). Ncinnovation Inc funder profile. GrantGraph. Retrieved October 19, 2026, from https://grantable.co/funders/ncinnovation-inc-morg_862c8bd5fdc145c58aedcaa5bc1c09c1
BibTeX
@misc{grantable_844902334_2026,
author = {{Grantable}},
title = {{Ncinnovation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/ncinnovation-inc-morg_862c8bd5fdc145c58aedcaa5bc1c09c1},
note = {Accessed 2026-10-19. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Ncinnovation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Ncinnovation Inc down — hundreds of funders to go?