2017-05-11T11:14:21-05:00 2016-06-30 540565834 MITCHELL WIGGINS & COMPANY LLP 1802 BAYBERRY COURT SUITE 300 RICHMOND VA 23226 990 2015-07-01 541666531 VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION VIRG 8048289292 PO BOX 843075 RICHMOND VA 232843075 TIMOTHY A GRAF TREASURER 8048289292 2017-05-10 1 M JAMES HARTSON JR CPA P00590214 8042826000 2015 2021-01-29 14:40:06Z TIMOTHY A GRAF PO BOX 843075 RICHMOND VA 232843075 8380879 0 X WWW.VCUREALESTATE.ORG X 1992 VA THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY. 15 14 0 0 0 0 0 0 7505790 8166661 7447 15146 50418 199072 7563655 8380879 30000 83000 0 0 0 0 0 0 0 5552246 6322092 5582246 6405092 1981409 1975787 81737625 93786369 53465386 63771596 28272239 30014773 THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY. 0 0 6405092 83000 8365733 TO SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF REAL ESTATE USED IN THE UNIVERSITY'S EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES. 6405092 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 13 0 1 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X X ORGANIZATION 8048289292 700 WEST GRACE STREET RICHMOND VA 232843075 R BRADFORD PARTREA DIRECTOR 1.00 X 0 0 0 H LEON SHADOWEN JR DIRECTOR 1.00 X 0 0 0 JEFFREY H GUMENICK DIRECTOR 1.00 X 0 0 0 ELIZABETH W BUONO DIRECTOR 1.00 X 0 0 0 WILLIAM A ROYALL JR DIRECTOR 1.00 X 0 0 0 CECIL SEARS DIRECTOR 1.00 X 0 0 0 CHERYLE K TOY DIRECTOR 1.00 X 0 0 0 GEORGE P EMERSON JR PRESIDENT 1.00 X X 0 0 0 DEBORAH K FOURNESS DIRECTOR 1.00 X 0 0 0 ROBERT L HANSAN VICE PRESIDENT 1.00 X X 0 0 0 DR MICHAEL RAO EX-OFFICIO DIRECTOR 1.00 X 0 637189 80971 ALEXANDER B MCMURTRIE JR DIRECTOR 1.00 X 0 0 0 PATRICIA WILKERSON DIRECTOR 1.00 X 0 0 0 JOHN C JACOBY DIRECTOR 1.00 X 0 0 0 F DAVIS DRUMHELLER JR DIRECTOR 1.00 X 0 0 0 MITZI M LEE SECRETARY 1.00 X 0 91157 20658 TIMOTHY A GRAF TREASURER 4.00 X 0 64677 6843 PAMELA CURREY FORMER TREASURER 1.00 X 0 166310 26300 0 959333 134772 0 1 1 0 RENTAL INVESTMENTS ONE LLC 2903-A BOULEVARD COLONIAL HEIGHTS VA 23834 CONSTRUCTION 1749194 AMERICAN OFFICE 309 N CALVERT STREET BALTIMORE MD 21202 CONSTRUCTION 1505353 21 DELTA FINANCIAL SERVICES 5502 SEQUOIA FARMS DR SUITE 200 CENTERVILLE VA 20120 CONSTRUCTION 398730 KBS 8050 KIMWAY DRIVE RICHMOND VA 23228 CONSTRUCTION 322169 THE TRENT CORPORATION 1840 W BROAD STREET RICHMOND VA 23220 CONSTRUCTION 156168 5 RENTAL INCOME 531190 8166661 8166661 8166661 15146 15146 MISCELLANEOUS 900099 199930 199930 LOSS FROM PASSTHROUGH 900099 -858 -858 199072 8380879 8365733 0 15146 83000 83000 324600 324600 10756 10756 21350 21350 9250 9250 1374497 1374497 1647675 1647675 2772302 2772302 69173 69173 BAD DEBTS 48639 48639 MISCELLANEOUS 31733 31733 PLANNING AND DEVELOPMEN 12117 12117 6405092 6405092 0 0 8382016 8576780 81059 119317 193877 91410286 17274401 59782720 74135885 7318750 7084639 6053763 3795188 81737625 93786369 465220 550028 5272000 5253386 36279153 46386273 7223334 9770222 4225679 1811687 53465386 63771596 X 28272239 30014773 28272239 30014773 81737625 93786369 1975787 -233253 0 X X 0 1 X 1 0 X X 1 VIRGINIA COMMONWEALTH UNIVERSITY 546001758 6 1 30000 0 1 30000 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 X PART IV, SECTION E, LINE 1C: THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY WHICH IS A PUBLIC RESEARCH UNIVERSITY IN THE COMMONWEALTH OF VIRGINIA. THE FOUNDATION ENGAGES IN THESE ACTIVITIES AT THE REQUEST OF THE UNIVERSITY. PART IV, SECTION D, LINE 3: THE SUPPORTED ORGANIZATION, VIRGINIA COMMONWEALTH UNIVERSITY, HAS TWO MEMBERS OF ITS OWN GOVERNING BODY SERVING AS DIRECTORS ON THE BOARD OF THE VCU REAL ESTATE FOUNDATION. IN ADDITION, THE PRESIDENT OF THE UNIVERSITY IS AN EX-OFFICIO DIRECTOR ON THE BOARD OF THE VCU REAL ESTATE FOUNDATION. PART IV, LINE 6 THE BOARD OF TRUSTEES VOTED TO MAKE A ONE-TIME DONATION OF $50,000 TO THE MONROE PARK CONSERVANCY. THE CONSERVANCY IS WORKING TO RENOVATE MONROE PARK, WHICH IS CENTRAL TO THE VIRGINIA COMMONWEALTH UNIVERSITY CAMPUS, AND A PRIORITY FOR THE UNIVERSITY. 20465731 20465731 67760453 15611278 52149175 3184102 1663123 1520979 74135885 37454 C UNITIZED POOL HELD BY VCU FOUNDATION 7047185 F 7084639 BOND PREMIUM, NET OF ACCUMULATED AMORTIZATION 1811687 1811687 X PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO EACH ENTITY'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE FOUNDATION HAD NO UNRELATED BUSINESS INCOME DURING THE YEARS ENDED JUNE 30, 2016 AND 2015. THE ORGANIZATIONS HAVE DETERMINED THAT THEY DO NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AT JUNE 30, 2016. THE ORGANIZATIONS INCLUDE PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES IN OPERATING EXPENSES, IF APPLICABLE. THE ORGANIZATIONS DID NOT INCUR ANY PENALTIES OR INTEREST EXPENSE FOR THE YEAR ENDED JUNE 30, 2016. 1 VIRGINIA COMMONWEALTH UNIVERSITY 912 W FRANKLIN STREET POST OFFICE BOX 843035 RICHMOND VA 232843035 546001758 115 30000 ASSISTANCE IS PROVIDED TO SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF REAL ESTATE USED IN THE UNIVERSITY'S EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES. MONROE PARK CONSERVANCY PO BOX 25926 RICHMOND VA 23260 383840559 501(C)(3) 50000 TO SUPPORT THE RENOVATION OF MONROE PARK 2 0 0 0 0 0 0 0 0 0 DR MICHAEL RAO EX-OFFICIO DIRECTOR 0 637189 0 0 0 0 0 0 0 80971 0 718160 0 0 PAMELA CURREY FORMER TREASURER 0 166310 0 0 0 0 0 0 0 26300 0 192610 0 0 A VIRGINIA COMMONWEALTH UNIVERSITY 546001758 000000000 2013-02-08 22289949 TO REFINANCE COST OF CONSTRUCTION - SEE ATTACHED FOR ADDITIONAL INFORMATION 0 0 0 B VIRGINIA COMMONWEALTH UNIVERSITY 546001758 000000000 2013-06-06 15932000 TO FINANCE PROJECT COSTS OF 912 WEST GRACE ST. AND 801 WEST MARSHALL ST. 0 0 0 C VIRGINIA COMMONWEALTH UNIVERSITY 546001758 000000000 2015-12-18 12879000 TO FINANCE AND REFINANCE COSTS - SEE ATTACHED FOR ADDITIONAL INFORMATION 0 0 0 A 2645000 22289949 261206 5808069 16220674 2013 1 0 1 1 B 1786083 15956823 63596 15893228 2015 0 0 1 1 C 339912 12882202 108126 6522406 6041429 210241 2016 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 1 1 0 0 0 0 1 B 0 1 1 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K SUPPLENTAL INFORMATION ADDITIONAL INFORMATION FOR PART I - LINE A: ISSUE A: TO FINANCE THE COST OF CONSTRUCTING THE GILMER STREET ADDITION TO THE BROAD AND BELVIDERE STUDENT HOUSING CENTER, AND TO REFUND THE VIRGINIA COMMONWEALTH UNIVERSITY GENERAL REVENUE PLEDGE BOND SERIES 2003, ORIGINALLY ISSUED MARCH 6, 2003 TO FINANCE THE COST OF CONSTRUCTING THE BROAD AND BELVIDERE STUDENT HOUSING CENTER. ADDITIONAL INFORMATION FOR PART I - LINE C: ISSUE C: TO FINANCE AND REFINANCE COSTS OF ACQUIRING AND IMPROVING SIX PROPERTIES, INCLUDING THE REFUNDING OF THE VIRGINIA SMALL BUSINESS FINANCING AUTHORITY REVENUE NOTE (VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION) SERIES 2005, AS REISSUED ON DECEMBER 10, 2013. PART IV, LINE 2C: ISSUE A - REBATE CALCULATION WAS PERFORMED ON SEPTEMBER 13, 2016. THE REBATE COMPLIANCE REPORT STATES THAT THE SIX-MONTH SPENDING EXCEPTION WAS MET, AS OF AUGUST 8, 2014. THEREFORE, NO REBATE IS DUE. ISSUE B - REBATE CALCULATION WAS PERFORMED ON JUNE 25, 2015. THE REBATE COMPLIANCE REPORT STATES THAT THE SPENDING EXCEPTION WAS MET AS OF JUNE 6, 2015. THEREFORE, NO REBATE IS DUE. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION DISTRIBUTES A COPY OF THE FORM 990 TO ALL MEMBERS OF THE AUDIT COMMITTEE PRIOR TO THE FORM BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY BY HAVING THE OFFICERS, DIRECTORS AND TRUSTEES SIGN THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS, IN WRITING, ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION POSTS ITS CURRENT AUDITED FINANCIAL STATEMENT AND FORM 990 ON ITS WEB SITE, EACH YEAR. IN ADDITION, COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE DISTRIBUTED TO ALL DIRECTORS. IT IS THE POLICY OF THE ORGANIZATION TO MAKE AVAILABLE COPIES OF FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFICT OF INTEREST INFORMATION AND OTHER DOCUMENTS TO THE PUBLIC. FORM 990 PART XII - LINE 2(C) THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. 535 WEST BROAD LLC REAL ESTATE HOLDING COMPANY VA 0 4556325 VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION VENTURE DEVELOPMENT LLC REAL ESTATE HOLDING COMPANY VA 0 0 VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION 800 WBS LLC 474504437 REAL ESTATE HOLDING COMPANY VA 0 0 VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION VIRGINIA COMMONWEALTH UNIVERSITY 912 W FRANKLIN STREET POST OFFICE B RICHMOND VA 232843035 546001758 PUBLIC UNIVERSITY WITH TWO MAIN CAMPUSES VA 115 N/A 0 ART STATION LLC 700 W GRACE STREET RICHMOND VA 232843040 462661466 RENTAL REAL ESTATE VA VCU REAL ESTATE FOUNDATION RELATED -858 657193 0 1 0.99000 1 1 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 1 VIRGINIA COMMONWEALTH UNIVERSITY J 7947793 ART STATION LLC A 169956 VIRGINIA COMMONWEALTH UNIVERSITY E 46386273 VIRGINIA COMMONWEALTH UNIVERSITY P 1094046 VIRGINIA COMMONWEALTH UNIVERSITY S 1295641 VIRGINIA COMMONWEALTH UNIVERSITY B 30000