2023-09-20T08:56:37-05:00 2022-12-31 BDO USA 300 E Main Street Suite 1300 Norfolk VA 23510 990 2022-01-01 541744996 Old Dominion University Real Estate Foundatio % DIRECTOR OF ACCOUNTING/CFO OLDD 7576834524 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 TARA SAUNDERS EXECUTIVE DIRECTOR 7576834524 2023-09-20 true TARA SAUNDERS 999009999 Marc Berger P01871563 7576407190 2 2022 2023-04-26 12:10:37Z TARA SAUNDERS 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 11992234 false X N/A X 1995 VA SEE SCHEDULE O SUPPLEMENTAL INFORMATION FOR ORGANIZATION'S MISSION 12 12 0 15 0 0 259685 242033 0 0 3725652 3646318 300711 342217 4286048 4230568 184238 201752 0 0 293127 309000 0 0 0 3125530 3151691 3602895 3662443 683153 568125 82050791 77759835 62244173 52540868 19806618 25218967 THE OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. false false 3483769 201752 0 AQUIRE, DEVELOP, AND MANAGE PROPERTY IN FURTHERANCE OF THE GOALS, MISSION AND OBJECTIVES OF OLD DOMINION UNIVERSITY. 3483769 true true false false false false false false false true true false false false true true true true false false false false false false false false false true false true true false false false false false false false false false false false false false false true true false false false true 6 0 true 0 false false false false false false false false false false false false X 12 12 false false false false false true false true true false false true true true true true true false false false VA X DIRECTOR OF ACCOUNTINGCFO 7576834471 4417 MONARCH WAY 4TH FLOOR Norfolk VA 23529 X BRIAN HEMPHILL EX-OFFICIO 0.5 0.0 X 0 700238 64039 MARGARET LIBBY ASST. TREASURER(THRU 10/2022) 9.0 0.0 X 0 216131 21994 TARA SAUNDERS EXECUTIVE DIRECTOR 40.0 0.0 X 0 151042 35374 MIKE LAROCK ASST. TREASURER(FROM 10/2022) 9.0 0.0 X 0 58679 11694 DONNA MANGLICMOT ASST. SECRETARY(THRU 5/2022) 13.0 0.0 X 0 20824 6615 CINDY GALL ASST. SECRETARY(FROM 10/2022) 13.0 0.0 X 0 15909 4976 LISA F CHANDLER CHAIR 0.8 0.0 X X 0 0 0 TERESA C PETERS VICE CHAIR 0.5 0.0 X X 0 0 0 JOSEPH A LOWERY SECRETARY/TREASURER 0.5 0.0 X X 0 0 0 ROBERT L DEWEY DIRECTOR EMERITUS 0.0 0.0 X 0 0 0 ROBERT M STANTON DIRECTOR EMERITUS 0.0 0.0 X 0 0 0 ROBERT BROERMANN TRUSTEE/BOV REP (THRU 06/2022) 0.5 0.0 X 0 0 0 JARED CHALK TRUSTEE 0.3 0.0 X 0 0 0 GEORGE L CONSOLVO TRUSTEE 0.3 0.0 X 0 0 0 LARRY R HILL TRUSTEE/BOV REP(FROM 07/2022) 0.5 0.0 X 0 0 0 MILES LEON TRUSTEE 0.3 0.0 X 0 0 0 KENNETH E RODMAN JR TRUSTEE 0.3 0.0 X 0 0 0 KAREN SHAFFER TRUSTEE 0.3 0.0 X 0 0 0 DEBRA K STEARNS TRUSTEE 0.3 0.0 X 0 0 0 NATHANIEL P TYLER TRUSTEE 0.3 0.0 X 0 0 0 CHAS WRIGHT TRUSTEE 0.3 0.0 X 0 0 0 0 1162823 144692 0 false true false KAUFMAN CANOLES 150 WEST MAIN STREET SUITE 2100 NORFOLK VA 23510 LEGAL SERVICES 107192 1 101100 140933 242033 0 39582 39582 0 0 2703567 2361350 342217 0 342217 342217 5392715 3614388 5392360 7956 355 3606432 3606736 3606736 0 0 0 0 0 0 0 0 0 0 4230568 3988535 201752 201752 0 0 0 0 0 309000 247200 61800 0 0 0 0 15033 15033 64050 64050 0 0 603 603 0 0 1528 1528 11775 11775 0 0 165 165 0 917 917 1857764 1857764 0 264 264 21010 21010 REAL ESTATE TAXES 1086832 1086832 BOND FEE 48986 48986 SERVICE CHARGES 4479 4469 10 REGISTRATION AND LICENSES 481 456 25 37804 3 37801 3662443 3483769 178674 0 250000 250000 2300352 2381055 3914811 3503401 1106585 1159315 0 0 0 0 36011586 33387608 0 0 0 0 34456480 2865412 32062515 31591068 3412817 2592521 0 0 0 0 0 0 2992125 2894867 82050791 77759835 380173 476239 0 0 235486 175127 45265987 41354490 0 0 0 0 10753383 9910715 0 0 5609144 624297 62244173 52540868 X 13345064 20025605 6461554 5193362 19806618 25218967 82050791 77759835 X 568125 1817 4842407 X X false true X true false X X 1 OLD DOMINION UNIVERSITY 546000884 6 true 0 496223 1 0 496223 true false false false false false false false false false false false false false false true true false X PART IV, SECTION E, LINE 1C: THE FOUNDATION WAS CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. PART IV, SECTION D, LINE 2: PART I LINE 12G REPORTS THE ESTIMATED FAIR MARKET VALUE OF THE DONATED USE OF FACILITIES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2784820 -236376 26100 2522344 2343756 466062 24998 2784820 2112289 251856 20389 2343756 1815446 317072 20229 2112289 1897698 1500000 -63560 1518692 1815446 1.00000 0.00000 0.00000 true false 19177409 19177409 13205947 1956152 11249795 1627602 626644 1000958 445522 282616 162906 31591068 0 INTEREST RATE SWAP LIABILITY 355368 LEASE INCENTIVE LIABILITY 230000 SECURITY DEPOSIT 38929 624297 X 11443495 1817 5087099 5088916 6354579 603 -2124614 -2124011 4230568 6031146 2369306 2369306 3661840 603 603 3662443 PART XI, LINE 2D: PART XI LINE 2D INCLUDES THE CHANGE IN VALUE OF INTEREST RATE SWAPS $5,079,143 AND LOSS ON SALE OF PROPERTY AND EQUIPMENT $7,956. PART XI, LINE 4B: PART XI LINE 4B IS THE SUM OF RENTAL EXPENSES REPORTED ON PART VIII LINE 6B $2,361,350 LESS THE DECREASE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION $-236,736. PART XII, LINE 2D: PART XI AND XII LINE 2D INCLUDES RENTAL EXPENSES REPORTED ON PART VIII LINE 6B $2,361,350 AND LOSS ON SALE OF PROPERTY AND EQUIPMENT $7,956. PART X, LINE 2: OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. EXEMPT ORGANIZATIONS ARE SUBJECT TO TAX ON INCOME FROM REGULARLY CONDUCTED TRADE OR BUSINESS ACTIVITIES THAT ARE NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSE. TAX YEARS BEFORE 2019 ARE NO LONGER SUBJECT TO EXAMINATIONS. MANAGEMENT CONTINUALLY EVALUATES TAX POSITIONS REFLECTED IN THE FOUNDATION'S TAX FILINGS AND DOES NOT BELIEVE THAT ANY MATERIAL UNCERTAIN TAX POSITIONS EXIST. OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION UNIVERSITY HOUSING, LLC AND OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION 45TH STREET PARKING GARAGE, LLC ARE ORGANIZED AS SINGLE-MEMBER LIMITED LIABILITY COMPANIES AND AS SUCH, ARE CONSIDERED DISREGARDED ENTITIES FOR INCOME TAX PURPOSES AND THEIR NET ASSETS AND ACTIVITIES ARE INCLUDED IN THE TAX RETURN OF OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION. true OLD DOMINION UNIVERSITY MUSEUM FOUNDATION 4417 MONARCH WAY NORFOLK VA 23529 812652321 501(c)(3) 201752 SEE PART IV 1 0 PART I, LINE 2: Old Dominion University Real Estate Foundation provides a gift to the Museum Foundation from the excess after debt payments for the Museum building per the pledge agreement. PART II, LINE 1H: TO ASSIST THE ACTIVITIES AND OBJECTIVES OF ODU MUSEUM FOUNDATION. false false false false false false false false false MARGARET LIBBY ASST. TREASURER(THRU 10/2022) 0 216131 0 0 0 0 0 17476 0 4518 0 238125 0 0 TARA SAUNDERS EXECUTIVE DIRECTOR 0 151042 0 0 0 0 0 26866 0 8508 0 186416 0 0 BRIAN HEMPHILL EX-OFFICIO 0 700238 0 0 0 0 0 41731 0 22308 0 764277 0 0 A Norfolk Redevelopment and Housing Authority 546001466 655909BS7 2015-07-29 44835000 PART VI SUPPLEMENTAL INFORMATION false true false B Norfolk Redevelopment and Housing Authority 546001466 655909BS7 2015-07-29 10605000 PART VI SUPPLEMENTAL INFORMATION false true false C Norfolk Airport Authority 546001465 000000000 2016-12-28 10000000 PART VI SUPPLEMENTAL INFORMATION false false false A 0 0 44835000 0 0 44835000 0 0 0 0 0 0 2004 true false true true B 0 0 10605000 0 0 10605000 0 0 0 0 0 0 2006 true false true true C 0 0 10000000 87000 0 0 0 0 0 10000000 0 0 2018 false false true true A false false false false 0 true false false true B false false false false 0 true false false true C false false false false 0 true false false true A false true false false true true BANK OF AMERICA NA 24. false false false 0 false true B false true false false true true BANK OF AMERICA NA 24. false false false 0 false true C false true false false false false 0 false 0 false true A false B false C false FORM 990, PART I, LINE 1: THE OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 7A: PER THE ARTICLES OF INCORPORATION, THE AFFAIRS OF THE CORPORATION SHALL BE MANAGED BY THE BOARD OF TRUSTEES CONSISTING OF NOT LESS THAN NINE (9) NOR MORE THAN THIRTEEN (13) TRUSTEES WHO ARE VOTING TRUSTEES AND WHO, EXCEPT AS PROVIDED BELOW, SHALL BE ELECTED FOR A TERM OF TWO YEARS BY A MAJORITY VOTE OF TRUSTEES PRESENT AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES. ONE TRUSTEE SHALL BE ELECTED BY THE BOARD OF VISITORS OF OLD DOMINION UNIVERSITY FOR A TERM OF TWO (2) YEARS AND UNTIL A SUCCESSOR IS ELECTED BY THE BOARD OF VISITORS. THE PRESIDENT OF OLD DOMINION UNIVERSITY SHALL SERVE AS AN EX OFFICIO MEMBER OF THE BOARD OF TRUSTEES WITHOUT VOTE. FORM 990, PART VI, SECTION B, LINE 11B: THE 990 TAX FORMS ARE REVIEWED BY THE FINANCE AND AUDIT AND EXECUTIVE COMMITTEES AND ARE PROVIDED TO VOTING MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C: ONCE THE ANNUAL INTEREST DISCLOSURE FORMS ARE RECEIVED, MANAGEMENT REVIEWS THEM TO ENSURE THERE ARE NO ISSUES. IN THE EVENT OF A CONFLICT OF INTEREST, THE AFFECTED TRUSTEE WILL ABSTAIN FROM PARTICIPATING IN THE DISCUSSION OF THE MATTER AND FROM VOTING ON IT. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: CHANGES IN NET ASSETS REPORTED ON FORM 990 PART XI LINE 9 INCLUDE THE CHANGE IN THE LIABILITY FOR INTEREST-RATE SWAPS $5,079,143 AND THE CHANGE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION -$236,736. FORM 990, PART XII, LINE 2C: THE FOUNDATION'S FINANCE AND AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. ODU REF STUDENT HOUSING LLC 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 541744996 HOUSING VA 2662716 38400762 ODU REF ODU REF 45TH STREET PARKING GARAGE LLC 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 541744996 PARKING VA 655811 8968016 ODU REF OLD DOMINION UNIVERSITY 5115 HAMPTON BLVD N NORFOLK VA 23529 546000884 REAL ESTATE VA 501(c)(3) 6 NA false false true false false false false true false false true false false false true true true false false false Part II Identification of Related Tax-Exempt Organizations: NAME OF RELATED ORGANIZATION: OLD DOMINION UNIVERSITY PRIMARY ACTIVITY: SUPPORT AND ASSIST OLD DOMINION UNIVERSITY WITH ITS REAL ESTATE TRANSACTIONS