2022-10-10T09:01:00-05:00 2021-12-31 BDO USA LLP 150 Boush Street Suite 1100 Norfolk VA 23510 990 2021-01-01 541744996 Old Dominion Unversity Real Estate Foundation % DIRECTOR OF ACCOUNTING/CFO OLDD 7576834524 4417 Monarch Way 4th Floor Norfolk VA 23529 Tara Saunders Executive Director 7576834524 2022-10-07 true Tara Saunders 999009999 Marc Berger P01871563 7576407190 3 2021 2022-09-23 18:48:47Z Tara Saunders 4417 Monarch Way 4th Floor Norfolk VA 23529 9697975 false X N/A X 1995 VA THE OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS.. SEE SUPPLEMENTAL INFORMATION 12 12 0 14 0 0 301916 259685 0 0 3812705 3725652 285166 300711 4399787 4286048 237687 184238 0 0 285989 293127 0 0 0 3367304 3125530 3890980 3602895 508807 683153 84903572 82050791 69026412 62244173 15877160 19806618 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 3308777 184238 0 AQUIRE, DEVELOP, AND MANAGE PROPERTY IN FURTHERANCE OF THE GOALS, MISSION AND OBJECTIVES OF OLD DOMINION UNIVERSITY. 3308777 true true false false false false false false false false 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 4 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 John R Broderick Ex-Officio (THRU 06/21) 0.5 0.0 X 0 1160470 94938 Brian Hemphill Ex-Officio (From 07/21) 0.5 0.0 X 0 355324 37910 Margaret Libby Assistant Treasurer 9.0 0.0 X 0 182924 39259 Tara Saunders Executive Director 40.0 0.0 X 0 148667 36860 Donna Manglicmot Assistant Secretary 13.0 0.0 X 0 43780 15705 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 George L Consolvo 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 (From 07/21) 0.5 0.0 X 0 0 0 Warren D Harris Trustee 0.3 0.0 X 0 0 0 Larry R Hill Trustee (THRU 06/21) 0.0 0.0 X 0 0 0 Miles Leon Trustee 0.3 0.0 X 0 0 0 Joseph A Lowery 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 1891165 224672 0 true true false 0 259685 259685 0 2332 2332 0 0 1924121 1623410 300711 0 300711 300711 3788565 3723272 3788517 0 48 3723272 3723320 3723320 0 0 0 0 0 0 0 0 0 0 4286048 4026363 184238 184238 0 0 0 293127 79939 213188 0 0 0 0 0 0 675 525 150 57350 57350 0 0 0 0 0 2766 2766 11470 11470 0 0 27 27 0 632 632 2005759 2005759 0 265 265 21395 21395 REAL ESTATE TAXES 1060566 1060566 BOND FEE 11003 11003 SERVICE CHARGES 4087 4081 6 ORGANIZATIONAL MEMBERSHIPS 2640 2640 -53105 -58994 5889 3602895 3308777 294118 0 0 250000 2543822 2300352 5130127 3914811 1059993 1106585 0 0 0 0 38347052 36011586 0 0 0 0 34516689 2454174 32278562 32062515 3081415 3412817 0 0 0 0 0 0 2462601 2992125 84903572 82050791 290615 380173 0 0 238430 235486 49062484 45265987 0 0 0 0 11027801 10753383 0 0 8407082 5609144 69026412 62244173 X 8200291 13345064 7676869 6461554 15877160 19806618 84903572 82050791 X 683153 -857 3247162 X false true X true false X X 1 OLD DOMINION UNIVERSITY 546000884 6 true 0 342834 1 0 342834 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 19177409 19177409 13014785 1495268 11519517 1877408 738337 1139071 447088 220570 226518 32062515 0 INTEREST RATE SWAP LIABILITY 5434510 LEASE INCENTIVE LIABILITY 150000 SECURITY DEPOSIT 24634 5609144 X 9604497 -857 105900 5213406 5318449 4286048 4286048 5675039 105900 1966244 2072144 3602895 3602895 Part XI, Line 2D - Other PART XI LINE 2D IS THE SUM OF RENTAL EXPENSES REPORTED ON PART VIII LINE 6B $1,623,410, IMPUTED RENT OF $342,834, CHANGE IN VALUE OF INTEREST RATE SWAPS $2,781,100 AND THE INCREASE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION $466,062. Part XII, Line 2D - Other PART XII LINE 2D INCLUDES RENTAL EXPENSES REPORTED ON PART VIII LINE 6B $1,623,410 AND IMPUTED RENT OF $342,834. 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 2018 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. Old Dominion University Museum Foundation 4417 Monarch Way Norfolk VA 23529 812652321 501(c)(3) 172707 To assist the activities and objectives of ODU Museum Foundation. Old Dominion University 5115 Hampton Blvd N Norfolk VA 23529 546000884 GOV 11531 book equipment To Assist the Activities of the Old Dominion University 1 1 false false false false false false false false false Margaret Libby Assistant Treasurer 0 182924 0 0 0 0 0 31027 0 8232 0 222183 0 0 Tara Saunders Executive Director 0 148667 0 0 0 0 0 25232 0 11628 0 185527 0 0 John R Broderick Ex-Officio (THRU 06/21) 0 1160470 0 0 0 0 0 79956 0 14985 0 1255411 0 0 Brian Hemphill Ex-Officio (From 07/21) 0 355324 0 0 0 0 0 26756 0 11154 0 393234 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 0 0 0 0 44835000 0 0 2004 true false true true B 0 0 10605000 0 0 0 0 0 0 10605000 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 true false false false 0 true false false true B true 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 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 DECREASE IN THE LIABILITY FOR INTEREST-RATE SWAPS $2,781,100, THE DECREASE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION $466,062 AND THE INCREASE IN THE DONATED SERVICES DUE TO UNIVERSITY 6,566. 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. 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 Old Dominion University J 1126516 FMV Old Dominion University G 3723272 FMV Old Dominion University O 293127 Part of Salary 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