VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION (EIN 01-0681650)
- Tax period
- 2016-01-01 to 2016-12-31
- Filed
- 2017-11-15
- IRS object ID
- 201733199349302503
- Schema version
- 2016v3.0
- 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 | 2017-11-15T06:04:04-08:00 | ReturnTs |
| Tax Period End | 2016-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
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 | 2016-01-01 | 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 | 2017-07-05 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JAMES E BENSON | PreparerPersonNm |
| Phone | 8043218512 | PhoneNum |
| Preparation | 2017-11-15 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 74.92.186.34 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2017-11-15 | IPDt |
| IP Tm | 06:03:49 | IPTm |
| IP Timezone | PS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 79A4E6F460CBAE547C0272EBBF491FC2364909AD | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 79A4E6F460CBAE547C0272EBBF491FC2364909AD | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | 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 | $3,728,341 | 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 |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,501,416 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,706,007 | CYProgramServiceRevenueAmt |
| PY Investment Income | $50 | PYInvestmentIncomeAmt |
| CY Investment Income | $104 | CYInvestmentIncomeAmt |
| PY Other Revenue | $17,079 | PYOtherRevenueAmt |
| CY Other Revenue | $22,230 | CYOtherRevenueAmt |
| PY Total Revenue | $3,518,545 | PYTotalRevenueAmt |
| CY Total Revenue | $3,728,341 | 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 | $3,033,851 | PYOtherExpensesAmt |
| CY Other Expenses | $3,350,399 | CYOtherExpensesAmt |
| PY Total Expenses | $3,033,851 | PYTotalExpensesAmt |
| CY Total Expenses | $3,350,399 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $484,694 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $377,942 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $12,954,995 | TotalAssetsBOYAmt |
| Total Assets EOY | $12,224,878 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $20,379,584 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $19,066,789 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$7,424,589 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$6,841,911 | 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 | $3,350,399 | ExpenseAmt |
| Revenue | $3,706,007 | RevenueAmt |
| Desc | 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. | Desc |
| Total Program Service Expenses | $3,350,399 | 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 |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| 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 With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| 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 |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 1 | 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 | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
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 | ||
| DR LETIZIA GAMBRELL-BOONE | |||||||
| SECRETARY | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JAY STEGMAIER | |||||||
| 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) | $50,500 | $0 | $0 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $50,500 | TotalReportableCompFromOrgAmt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| GREYSTAR | |||||
| SUITE 2100 | IRVING | TX | 75039 | PROPERTY MANAGEMENT | $123,600 |
| COMCAST | |||||
| POBOX 3006 | SOUTHEASTERN | PA | 19398 | WIRELESS SERVICES | $117,767 |
| GROOME TRANSPORTATION | |||||
| 2289 DABNEY ROAD | RICHMOND | VA | 23230 | SHUTTLE SERVICE | $126,165 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STUDENT HOUSING | Desc |
| Business | 531310 | BusinessCd |
| Total Revenue Column | $3,706,007 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,706,007 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $104 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER REVENUE | Desc |
| Business | 531110 | BusinessCd |
| Total Revenue Column | $22,230 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $22,230 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $22,230 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,728,341 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,728,341 | RelatedOrExemptFuncIncomeAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,185 | TotalAmt |
| Program Services | $72,185 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,703 | TotalAmt |
| Program Services | $1,703 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $835,158 | TotalAmt |
| Program Services | $835,158 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $610,426 | TotalAmt |
| Program Services | $610,426 | 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 | $17,776 | $17,776 | $0 | $0 |
| EMPLOYEE HIRING COST | $3,961 | $3,961 | $0 | $0 |
| MISC | $66,584 | $66,584 | $0 | $0 |
| OFFICE SUPPLIES | $32,406 | $32,406 | $0 | $0 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,710,200 | TotalAmt |
| Program Services | $1,710,200 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,350,399 | TotalAmt |
| Program Services | $3,350,399 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,501,162 | BOYAmt |
| EOY | $2,580,169 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,354 | BOYAmt |
| EOY | $15,282 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,635 | BOYAmt |
| EOY | $4,384 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $16,021,792 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $8,503,470 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,121,061 | BOYAmt |
| EOY | $7,518,322 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,312,783 | BOYAmt |
| EOY | $2,106,721 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,954,995 | BOYAmt |
| EOY | $12,224,878 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,188 | BOYAmt |
| EOY | $180,851 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,024 | BOYAmt |
| EOY | $52,045 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,669,850 | BOYAmt |
| EOY | $15,825,377 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,536,522 | BOYAmt |
| EOY | $3,008,516 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,379,584 | BOYAmt |
| EOY | $19,066,789 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$7,424,589 | BOYAmt |
| EOY | -$6,841,911 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$7,424,589 | BOYAmt |
| EOY | -$6,841,911 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,954,995 | BOYAmt |
| EOY | $12,224,878 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $377,942 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $204,736 | 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 |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,529,260 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,503,467 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,498,024 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,501,416 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,706,007 | CurrentTaxYearAmt |
| Total | $17,738,174 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,529,260 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,503,467 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,498,024 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,501,416 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,706,007 | CurrentTaxYearAmt |
| Total | $17,738,174 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $17,738,174 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $258 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $220 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $50 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $50 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $50 | CurrentTaxYearAmt |
| Total | $628 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $176,267 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $26,508 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $18,360 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $17,079 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $22,230 | CurrentTaxYearAmt |
| Total | $260,444 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $17,999,246 | TotalSupportAmt |
| Public Support CY170 | 0.98550 | PublicSupportCY170Pct |
| Public Support PY170 | 0.98570 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
| Public Support Total509 | $0 | PublicSupportTotal509Amt |
| Public Support CY509 | 0 | PublicSupportCY509Pct |
| Investment Income CY | 0 | InvestmentIncomeCYPct |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Pt II Ln 10 | FormAndLineReferenceDesc |
| Explanation | Other Income Part II, Line 10 Description: OTHER INCOME 2012: 176267. 2013: 26508. 2014: 18360. 2015: 17079. 2016: 22230. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | $12,014,292 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,038,798 | DepreciationAmt |
| Book Value | $6,975,494 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,435,448 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,435,448 | DepreciationAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,029,224 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,029,224 | DepreciationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,518,322 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| SECURITY DEPOSITS | $57,600 |
| TENANT RENT RECEIVBLE | $37,778 |
| RESTRICTED CASH DEBT SERVICE | $2,011,343 |
| DEFERRED BOND | |
| DUE FROM VSU TROJAN DEVELOPMENT COMPANY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $2,106,721 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| INTEREST SWAP | $2,950,916 |
| TENANT SECURITY DEPOSIT | $57,600 |
| ACCRUED PROPERTY MANAGEMENT FEES | |
| LINE OF CREDIT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,008,516 | TotalLiabilityAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VSU TUITION ASSISTANCE FUND | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 UNIVERSITY AVENUE | AddressLine1Txt |
| City | PETERSBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23806 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 546001811 | RecipientEIN |
| Cash Grant | $55,000 | CashGrantAmt |
| Valuation Method Used | CASH | ValuationMethodUsedDesc |
| Non Cash Assistance | 0 | NonCashAssistanceDesc |
| Purpose Of Grant | TUITION | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 |
| Current Refunding | Yes (true) | CurrentRefundingInd |
| Advance Refunding | false | AdvanceRefundingInd |
| 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 |
| Engage Bond Counsel Contracts | false | EngageBondCounselContractsInd |
| Any Research Agreements | false | AnyResearchAgreementsInd |
| Private Bus Use By Others | 0.00000 | PrivateBusUseByOthersPct |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUsePct |
| Bond Iss Meet Prvt Sec Pymt Test | false | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | false | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiledInd |
| Variable Rate Issue | Yes (true) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | false | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | false | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | false | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | false | WrittenProcToMonitorReqsInd |
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 |
| 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 467498. 467498. 0. 0. |
| Form 990, Part IX, Line 24e | POSTAGE 1052. 1052. 0. 0. |
| Form 990, Part IX, Line 24e | PROFESSIONAL FEES 105384. 105384. 0. 0. |
| Form 990, Part IX, Line 24e | PROPERTY MANAGEMENT FEES 123600. 123600. 0. 0. |
| Form 990, Part IX, Line 24e | REPAIRS,MAINTENANCE 563034. 563034. 0. 0. |
| Form 990, Part IX, Line 24e | TELEPHONE 7704. 7704. 0. 0. |
| Form 990, Part IX, Line 24e | TRAINING 10290. 10290. 0. 0. |
| Form 990, Part IX, Line 24e | UTILITIES 348572. 348572. 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 27401. 27401. 0. 0. |
| Form 990, Part IX, Line 24e | CONTRIBUTIONS 55665. 55665. 0. 0. |
Comments