2024-10-31T06:51:59-07:00 2023-12-31 200592958 LARRY SAUNDERS & ASSOCIATES 2902 CHAMBERLAYNE AVE RICHMOND VA 23222 990 2023-01-01 010681650 VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION VIRG 8046914744 4010 J MITCHELL DRIVE PETERSBURG VA 23803 JOYCE HENDERSON EXECUTIVE DIRECTOR 8046914744 2024-10-29 true true James E Benson P00175791 8043218512 2024-10-31 2023 2024-10-15 13:58:12Z JOYCE HENDERSON 4010 J MITCHELL JONES DRIVE PETERSBURG VA 23803 3230309 false X N/A X 2002 VA 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. 5 3 0 0 0 0 0 4262655 3167638 11948 51369 9667 11302 4284270 3230309 0 0 0 0 0 3920367 2615879 3920367 2615879 363903 614430 9306796 10715535 11175339 11858256 -1868543 -1142721 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. false false 2436627 0 2167638 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. 2436627 true false false false false false false false false false true false false true true true true true false false false false false false false false false true false false true false false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false false false X 5 3 false true false false false false false true true false false true true true true true true true false false LARRY SAUNDERS ASSOCIATES 8043218512 2902 CHAMBERLAYNE AVE RICHMOND VA 23222 DR MILLARD STITH PRESIDENT 0.50 X X 0 0 0 AUBREY W FOUNTAIN III TREASURER 0.50 X X 0 0 0 ALONZO BELL JR BOARD MEMBER 0.50 X 0 0 0 REGINIA BARNETT-TYLER SECRETARY 0.50 X X X 0 0 0 DR HAROLD GREEN BOV APPOINTED LIAISON 0.50 X 0 0 0 KEVIN DAVENPORT NON-VOTING BOARD MEMBER 0.50 X X 0 0 0 JOYCE E HENDERSON EXECUTIVE DIRECTOR 30.00 X 36000 36000 36000 36000 36000 36000 false false false MCGUIRE WOODS GATEWAY PLAZA 800 E CANAL ST RICHMOND VA 23219 LEGAL CONSULTATION 150094 1 STUDENT HOUSING 531310 2167638 0 0 1000000 0 0 3167638 51369 0 0 OTHER REVENUE 531110 11302 11302 0 0 11302 3230309 3230309 0 0 40450 40450 0 0 1661 1661 0 0 458323 458323 0 0 482784 482784 0 0 BANK SERVICE CHARGES 10864 10864 0 0 EMPLOYEE HIRING COST 2436 2436 0 0 MISC 12099 12099 0 0 OFFICE SUPPLIES 34526 34526 0 0 1572736 1393484 179252 0 2615879 2436627 179252 0 2040753 1492453 11106 15868255 11522275 4828764 4345980 2426173 4877102 9306796 10715535 396872 105574 198884 29862 9913247 8758776 666336 2964044 11175339 11858256 X -1868543 -1142721 -1868543 -1142721 9306796 10715535 X 614430 111392 X true X true X true false X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4284270 3230309 7514579 0 0 7514579 7514579 0.00000 0.00000 X 0 0 0 0 542828 542828 12409488 8687455 3722033 2446131 2432101 14030 469808 402719 67089 4345980 SECURITY DEPOSITS 0 TENANT RENT RECEIVBLE 0 RESTRICTED CASH DEBT SERVICE 2377102 DEFERRED BOND 0 DUE FROM VSU TROJAN DEVELOPMENT COMPANY 0 DUE FROM VSU FOUNDATION 0 RESTRICTED CASH ECONOMIC DEVELOPMENT 2500000 4877102 INTEREST SWAP 448518 TENANT SECURITY DEPOSIT 15526 ACCRUED PROPERTY MANAGEMENT FEES 0 LINE OF CREDIT 0 REFUNDABLE ADVANCE 2500000 2964044 3230309 3230309 3230309 2615879 2615879 2615879 false 1 A VA SMALL BUSINESS FINANCING AUTHORITY 541300845 928104KL1 2008-08-01 21845842 REFINANCING OF BONDS false false false A 21845842 1067675 187799 20590368 true false true true A false false false false 0.00000 0.00000 0.00000 false 0.00000 A false true true false 0.000000000000 0.000000000000 A false 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.