VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION: Form 990, tax year 2023
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- Organization
- VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION (EIN 01-0681650)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-31
- IRS object ID
- 202443059349300229
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-10-31T06:51:59-07:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 200592958 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LARRY SAUNDERS & ASSOCIATES | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2902 CHAMBERLAYNE AVE | AddressLine1Txt |
| City | RICHMOND | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23222 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 010681650 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VIRG | BusinessNameControlTxt |
| Phone | 8046914744 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4010 J MITCHELL DRIVE | AddressLine1Txt |
| City | PETERSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23803 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOYCE HENDERSON | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 8046914744 | PhoneNum |
| Signature | 2024-10-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | James E Benson | PreparerPersonNm |
| PTIN | P00175791 | PTIN |
| Phone | 8043218512 | PhoneNum |
| Preparation | 2024-10-31 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOYCE HENDERSON | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4010 J MITCHELL JONES DRIVE | AddressLine1Txt |
| City | PETERSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23803 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,230,309 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2002 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | VSUREF IS ORGANIZED AND OPERATED TO AQUIRE, DEVELOP, RECEIVE, MAINTAIN AND MANAGE REAL ESTATE ASSETS THAT FURTHER THE AIMS AND PURPOSES OF VIRGINIA STATE UNIVERSITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $4,262,655 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,167,638 | CYProgramServiceRevenueAmt |
| PY Investment Income | $11,948 | PYInvestmentIncomeAmt |
| CY Investment Income | $51,369 | CYInvestmentIncomeAmt |
| PY Other Revenue | $9,667 | PYOtherRevenueAmt |
| CY Other Revenue | $11,302 | CYOtherRevenueAmt |
| PY Total Revenue | $4,284,270 | PYTotalRevenueAmt |
| CY Total Revenue | $3,230,309 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,920,367 | PYOtherExpensesAmt |
| CY Other Expenses | $2,615,879 | CYOtherExpensesAmt |
| PY Total Expenses | $3,920,367 | PYTotalExpensesAmt |
| CY Total Expenses | $2,615,879 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $363,903 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $614,430 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $9,306,796 | TotalAssetsBOYAmt |
| Total Assets EOY | $10,715,535 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $11,175,339 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $11,858,256 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$1,868,543 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$1,142,721 | NetAssetsOrFundBalancesEOYAmt |
| Mission | VSUREF IS ORGANIZED AND OPERATED TO AQUIRE, DEVELOP, RECEIVE, MAINTAIN AND MANAGE REAL ESTATE ASSETS THAT FURTHER THE AIMS AND PURPOSES OF VIRGINIA STATE UNIVERSITY. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $2,436,627 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $2,167,638 | RevenueAmt |
| Desc | TO MANAGE THE UNIVERSITY APARTMENTS AT ETTRICK A 504 BEDROOM FACILITY FOR VIRGINIA STATE UNIVERSITY STUDENTS, IN SUPPORT OF THE UNIVERSITYS MISSION AND IN KEEPING WITH THE UNIVERSITYS STRATEGY TO OFFER A VARIETY OF HOUSING ALTERNATIVES FOR STUDENTS. | Desc |
| Total Program Service Expenses | $2,436,627 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (true) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LARRY SAUNDERS ASSOCIATES | PersonNm |
| Phone | 8043218512 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2902 CHAMBERLAYNE AVE | AddressLine1Txt |
| City | RICHMOND | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23222 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Institutional TrusteeInstitutionalTrusteeInd |
|---|---|---|---|---|---|---|---|
| DR MILLARD STITH | |||||||
| PRESIDENT | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| AUBREY W FOUNTAIN III | |||||||
| TREASURER | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ALONZO BELL JR | |||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | ||
| REGINIA BARNETT-TYLER | |||||||
| SECRETARY | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | Yes (X) |
| DR HAROLD GREEN | |||||||
| BOV APPOINTED LIAISON | 0.50 | Yes (X) | $0 | $0 | $0 | ||
| KEVIN DAVENPORT NON-VOTING | |||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JOYCE E HENDERSON | |||||||
| EXECUTIVE DIRECTOR | 30.00 | Yes (X) | $36,000 | $36,000 | $36,000 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $36,000 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $36,000 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $36,000 | TotalOtherCompensationAmt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGUIRE WOODS | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | GATEWAY PLAZA 800 E CANAL ST | AddressLine1Txt |
| City | RICHMOND | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23219 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LEGAL CONSULTATION | ServicesDesc |
| Compensation | $150,094 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STUDENT HOUSING | Desc |
| Business | 531310 | BusinessCd |
| Total Revenue Column | $2,167,638 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,000,000 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,167,638 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $51,369 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER REVENUE | Desc |
| Business | 531110 | BusinessCd |
| Total Revenue Column | $11,302 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,302 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $11,302 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,230,309 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,230,309 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,450 | TotalAmt |
| Program Services | $40,450 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,661 | TotalAmt |
| Program Services | $1,661 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $458,323 | TotalAmt |
| Program Services | $458,323 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $482,784 | TotalAmt |
| Program Services | $482,784 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| BANK SERVICE CHARGES | $10,864 | $10,864 | $0 | $0 |
| EMPLOYEE HIRING COST | $2,436 | $2,436 | $0 | $0 |
| MISC | $12,099 | $12,099 | $0 | $0 |
| OFFICE SUPPLIES | $34,526 | $34,526 | $0 | $0 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,572,736 | TotalAmt |
| Program Services | $1,393,484 | ProgramServicesAmt |
| Management And General | $179,252 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,615,879 | TotalAmt |
| Program Services | $2,436,627 | ProgramServicesAmt |
| Management And General | $179,252 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,040,753 | BOYAmt |
| EOY | $1,492,453 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,106 | BOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $15,868,255 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,522,275 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,828,764 | BOYAmt |
| EOY | $4,345,980 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,426,173 | BOYAmt |
| EOY | $4,877,102 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,306,796 | BOYAmt |
| EOY | $10,715,535 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $396,872 | BOYAmt |
| EOY | $105,574 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $198,884 | BOYAmt |
| EOY | $29,862 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,913,247 | BOYAmt |
| EOY | $8,758,776 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $666,336 | BOYAmt |
| EOY | $2,964,044 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,175,339 | BOYAmt |
| EOY | $11,858,256 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$1,868,543 | BOYAmt |
| EOY | -$1,142,721 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$1,868,543 | BOYAmt |
| EOY | -$1,142,721 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,306,796 | BOYAmt |
| EOY | $10,715,535 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $614,430 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $111,392 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | Yes (true) | AccountantCompileOrReviewInd |
Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Organization | Yes (X) | CollegeOrganizationInd |
| Other Support Sum | $0 | OtherSupportSumAmt |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $0 | SubstantialContributorsTotAmt |
| Public Support Total170 | $0 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $4,284,270 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,230,309 | CurrentTaxYearAmt |
| Total | $7,514,579 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $7,514,579 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $7,514,579 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.00000 | PublicSupportCY170Pct |
| Public Support PY170 | 0.00000 | PublicSupportPY170Pct |
| Private Foundation170 | Yes (X) | PrivateFoundation170Ind |
| Public Support Total509 | $0 | PublicSupportTotal509Amt |
| Public Support CY509 | 0 | PublicSupportCY509Pct |
| Investment Income CY | 0 | InvestmentIncomeCYPct |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $542,828 | OtherCostOrOtherBasisAmt |
| Book Value | $542,828 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,409,488 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,687,455 | DepreciationAmt |
| Book Value | $3,722,033 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,446,131 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,432,101 | DepreciationAmt |
| Book Value | $14,030 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $469,808 | OtherCostOrOtherBasisAmt |
| Depreciation | $402,719 | DepreciationAmt |
| Book Value | $67,089 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,345,980 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| SECURITY DEPOSITS | $0 |
| TENANT RENT RECEIVBLE | $0 |
| RESTRICTED CASH DEBT SERVICE | $2,377,102 |
| DEFERRED BOND | $0 |
| DUE FROM VSU TROJAN DEVELOPMENT COMPANY | $0 |
| DUE FROM VSU FOUNDATION | $0 |
| RESTRICTED CASH ECONOMIC DEVELOPMENT | $2,500,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $4,877,102 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| INTEREST SWAP | $448,518 |
| TENANT SECURITY DEPOSIT | $15,526 |
| ACCRUED PROPERTY MANAGEMENT FEES | $0 |
| LINE OF CREDIT | $0 |
| REFUNDABLE ADVANCE | $2,500,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,964,044 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $3,230,309 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $3,230,309 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $3,230,309 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,615,879 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $2,615,879 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $2,615,879 | TotalExpensesPerForm990Amt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | false | GrantRecordsMaintainedInd |
| Total Other Org | 1 | TotalOtherOrgCnt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VA SMALL BUSINESS FINANCING AUTHORITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 541300845 | BondIssuerEIN |
| CUSIP | 928104KL1 | CUSIPNum |
| Bond Issued | 2008-08-01 | BondIssuedDt |
| Issue Price | $21,845,842 | IssuePriceAmt |
| Purpose | REFINANCING OF BONDS | PurposeDesc |
| Defeased | false | DefeasedInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Pool Financing | false | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $21,845,842 | TotalProceedsAmt |
| In Reserve Fund | $1,067,675 | InReserveFundAmt |
| Issuance Costs From Proceeds | $187,799 | IssuanceCostsFromProceedsAmt |
| Capital Expenditures | $20,590,368 | CapitalExpendituresAmt |
| Refunding Tax Exempt Bonds | Yes (true) | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | false | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (true) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (true) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | false | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | false | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | false | MgmtContractBondFincdPropInd |
| Any Research Agreements | false | AnyResearchAgreementsInd |
| Private Bus Use By Others | 0.00000 | PrivateBusUseByOthersPct |
| Private Bus Concerning UBI | 0.00000 | PrivateBusConcerningUBIPct |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUsePct |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedPropInd |
| Change In Use Bond Financed Prop | 0.00000 | ChangeInUseBondFinancedPropPct |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiledInd |
| Rebate Not Due Yet | Yes (true) | RebateNotDueYetInd |
| Variable Rate Issue | Yes (true) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | false | HedgeIdentifiedInBksAndRecInd |
| Term Of Hedge | 0.000000000000 | TermOfHedgePct |
| Term Of GIC | 0.000000000000 | TermOfGICPct |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | false | ProceduresCorrectiveActionInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (18 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Pt XI | CHANGE IN FAIR VALUE OF INTEREST RATE SWAP OBLIGATION |
| Pt VI, Line 19 | THE FINANCIAL STATEMENTS AND ALL GOVERNING DOCUMENTS ARE AVAILABLE FOR PUBLIC ACCESS UPON REQUEST |
| Pt VI, Line 11b | THE FORM 990 IS GIVEN TO THE EXECUTIVE DIRECTOR WHO REVIEWS IT AND GOES OVER WITH THE BOARD OF DIRECTORS FOR THEIR APPROVAL TO BE ISSUED. |
| Pt VI, Line 15a | THE ORGANIZATION DID A VERBAL SURVEY OF OTHER STATE UNIVERSITIES IN VIRGINIA TO LEARN ABOUT COMPENSATION FOR THEIR FOUNDATION EXECUTIVE DIRECTOR AND ALSO REVIEWED SALARY DATA (FROM SALARY.COM) FOR FOUNDATION EXECUTIVE DIRECTORS WITHIN THE STATE OF VIRGINIA FOCUSING ON SALARY INFORMATION FOR PETERSBURG, RICHMOND AND NORFOLK. |
| Pt VI, Line 3 | GREYSTAR WAS GRANTED MANAGEMENT DUTIES THROUGH JUNE 30, 2023, AND VIRGINIA STATE UNIVERSITY ASSUMED MANAGEMENT DUTIES EFFECTIVE JULY 1, 2023. |
| Pt VI, Line 12c | POLICY IMPLEMENTED IN 2015. BOARD MEMBERS REQUIRED TO UPDATE THE CONFLICT OF INTEREST FORM ANNUALLY AND WHEN CIRCUMSTANCES CHANGE THE INFORMATION ON FILE. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR SECURING THE ANNUAL UPDATES. |
| Form 990, Part IX, Line 24e | PERSONNEL SERVICES 478258. 478258. 0. 0. |
| Form 990, Part IX, Line 24e | POSTAGE 456. 456. 0. 0. |
| Form 990, Part IX, Line 24e | PROFESSIONAL FEES 377667. 285915. 91752. 0. |
| Form 990, Part IX, Line 24e | PROPERTY MANAGEMENT FEES 87500. 0. 87500. 0. |
| Form 990, Part IX, Line 24e | REPAIRS,MAINTENANCE 347553. 347553. 0. 0. |
| Form 990, Part IX, Line 24e | TELEPHONE 6733. 6733. 0. 0. |
| Form 990, Part IX, Line 24e | TRAINING 2752. 2752. 0. 0. |
| Form 990, Part IX, Line 24e | UTILITIES 210104. 210104. 0. 0. |
| Form 990, Part IX, Line 24e | BAD DEBT EXPENSE 0. 0. 0. 0. |
| Form 990, Part IX, Line 24e | ROUNDING DIFFERENCE 0. 0. 0. 0. |
| Form 990, Part IX, Line 24e | INSURANCE 61713. 61713. 0. 0. |
| Form 990, Part IX, Line 24e | CONTRIBUTIONS 0. 0. 0. 0. |
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