Mission
TO PROMOTE ECONOMIC DEVELOPMENT AND ENCOURAGE INNOVATION FOR THE BENEFIT OF THE COMMUNITIES AND CITIZENS OF SOUTHERN VIRGINIA BY OFFERING IMPACTFUL PROGRAMMING FOR DIGITAL SKILLS EDUCATION AND WORKFORCE TRAINING.
Public Charity
SOVA INNOVATION HUB CORPORATION
SOVA INNOVATION HUB CORPORATION is a nonprofit organization categorized as Public Charity based in SOUTH BOSTON, VA. Its most recent IRS filing (2025) reports revenue of $716K, expenses of $749K, total assets of $2.3M. Imperigo tracks 13 reported grant relationships connected to this organization totaling approximately $2.6M.
EIN: 842208618
SOUTH BOSTON, VA
Economic Development
NTEE: S30
Latest filing: 2025
Total Revenue$716K
Total Expenses$749K
Total Assets$2.3M
Grant Records13
Funding Total$2.6M
Filing Years2021–2025
Where $100 goes at Sova Innovation Hub Corporation
How Sova Innovation Hub Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 6 years.
$51
Programs
the work itself
$49
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $51 for programs
$51
To promote economic development and encourage innovation for the benefit of the communities and citizens of southern virginia by offering impactful programming for digital skills education and workforce…
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
CONTRIBUTION
$250,325
GENERAL SUPPORT
$92,500
GENERAL SUPPORT
$92,500
CONTRIBUTION
$257,000
GENERAL SUPPORT
$108,415
Showing up to 5 of 13 total records — full history available with membership.
Officers & Directors
VICE CHAIR
Jeremy Satterfield
TREASURER
Phillip Lloyd
CHAIRMAN
Thomas Deriso
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $716K | $749K | $2.3M |
| 2024 | $502K | $511K | $1.4M |
| 2023 | $716K | $750K | $1.6M |
| 2022 | $891K | $584K | $1.2M |
| 2021 | $961K | $395K | $798K |
Between 2021 and 2025, reported annual revenue declined from $961K to $716K (-25%), with total assets most recently reported at $2.3M.
Interactive year-over-year charts and full filing details available with membership.