2020-11-05T07:39:12-08:00 2019-12-31 LARRY SAUNDERS & ASSOCIATES 2902 CHAMBERLAYNE AVE RICHMOND VA 23222 990 2019-01-01 010681650 VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION VIRG 8046914744 4010 J MITCHELL DRIVE PETERSBURG VA 23803 JOYCE HENDERSON EXECUTIVE DIRECTOR 8046914744 2020-09-09 true James E Benson P00175791 8043218512 2020-11-05 74.92.186.34 2020-11-05 07:39:06 PS P DA80334D9CDF0A929F6BB3264DBDFA54930B60E3 DA80334D9CDF0A929F6BB3264DBDFA54930B60E3 2019 2021-01-29 14:40:06Z JOYCE HENDERSON 4010 J MITCHELL JONES DRIVE PETERSBURG VA 23803 4029074 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 4059655 3999892 13075 17038 11722 12144 4084452 4029074 0 0 0 0 0 3627365 3515318 3627365 3515318 457087 513756 11314391 10805076 16415255 15562566 -5100864 -4757490 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 3362734 0 3999892 TO MANAGE THE UNIVERSITY APARTMENTS AT ETTRICK A 504 BEDROOM FACILITY FOR VIRGINIA STATE UNIVERSITY STUDENTS, IN SUPPORT OF THE UNIVERSITY'S MISSION AND IN KEEPING WITH THE UNIVERSITY'S STRATEGY TO OFFER A VARIETY OF HOUSING ALTERNATIVES FOR STUDENTS. 3362734 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 true true 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 DR LETIZIA GAMBRELL-BOONE SECRETARY 0.50 X X X 0 0 0 JAY STEGMAIER 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 0 0 36000 0 0 false false false GREYSTAR SUITE 2100 IRVING TX 75039 PROPERTY MANAGEMENT 128889 COMCAST POBOX 3006 SOUTHEASTERN PA 19398 WIRELESS SERVICES 117000 GROOME TRANSPORTATION 2289 DABNEY ROAD RICHMOND VA 23230 SHUTTLE SERVICE 109205 3 STUDENT HOUSING 531310 3999892 0 0 3999892 17038 0 0 OTHER REVENUE 531110 12144 12144 0 0 12144 4029074 4029074 0 0 80271 80271 0 0 6557 6557 0 0 697918 697918 0 0 551883 551883 0 0 BANK SERVICE CHARGES 6889 6889 0 0 EMPLOYEE HIRING COST 5941 5941 0 0 MISC 8268 8268 0 0 OFFICE SUPPLIES 48490 48490 0 0 2109101 1956517 152584 0 3515318 3362734 152584 0 2601262 2267518 0 6708 7106 16254623 10277332 6301661 5977291 2404760 2553161 11314391 10805076 309182 282663 54149 13183 14021433 13066960 2030491 2199760 16415255 15562566 X -5100864 -4757490 -5100864 -4757490 11314391 10805076 X 513756 -170382 X true X true X true false X 0 3501416 3706007 3946517 11153940 0 0 3501416 3706007 3946517 11153940 0 11153940 50 50 3955 4055 0 17079 22230 33252 72561 11230556 0.99320 0.99360 X 0 0 0 Pt II Ln 10 Other Income Part II, Line 10 Description: OTHER INCOME 2015: 17079. 2016: 22230. 2017: 33252. 0 542828 542828 12014292 6858075 5156217 2621978 2430336 191642 1075525 988921 86604 5977291 SECURITY DEPOSITS 49956 TENANT RENT RECEIVBLE 155112 RESTRICTED CASH DEBT SERVICE 2348093 DEFERRED BOND 0 DUE FROM VSU TROJAN DEVELOPMENT COMPANY 0 DUE FROM VSU FOUNDATION 0 2553161 INTEREST SWAP 2136798 TENANT SECURITY DEPOSIT 51837 ACCRUED PROPERTY MANAGEMENT FEES 11125 LINE OF CREDIT 0 2199760 4029074 4029074 4029074 3515318 3515318 3515318 true VSU TUITION ASSISTANCE FUND 100 UNIVERSITY AVENUE PETERSBURG VA 23806 546001811 25000 0 CASH 0 TUITION 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 false 0.00000 0.00000 0.00000 false false 0.00000 false A false true false 0.000000000000 false 0.000000000000 false false 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 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 584148. 584148. 0. 0. Form 990, Part IX, Line 24e POSTAGE 318. 318. 0. 0. Form 990, Part IX, Line 24e PROFESSIONAL FEES 101945. 78250. 23695. 0. Form 990, Part IX, Line 24e PROPERTY MANAGEMENT FEES 128889. 0. 128889. 0. Form 990, Part IX, Line 24e REPAIRS,MAINTENANCE 837015. 837015. 0. 0. Form 990, Part IX, Line 24e TELEPHONE 9615. 9615. 0. 0. Form 990, Part IX, Line 24e TRAINING 7784. 7784. 0. 0. Form 990, Part IX, Line 24e UTILITIES 343088. 343088. 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 36299. 36299. 0. 0. Form 990, Part IX, Line 24e CONTRIBUTIONS 60000. 60000. 0. 0.