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NCInnovation faces scrutiny over tax filings as $13 million in grants approved

NCInnovation, a nonprofit that has received hundreds of millions in taxpayer funds to spur commercialization of public university research, amended a key tax document after failing to indicate a previously made IRS election on its 2023 Form 990, one that could shield it from potential lobbying violations.

Donna King
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NCInnovation committee votes to freeze investment plans as lawmakers weigh budget clawback

The NCInnovation investments committee voted Monday to keep the organization’s $500 million endowment fully in cash for the next 30 days, maintaining maximum flexibility as lawmakers consider legislation that could repeal the nonprofit’s authorizing statute and shift its funding model.

Donna King

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