VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION (EIN 54-1666531)
Tax period
2014-07-01 to 2015-06-30
Filed
2016-05-09
IRS object ID
201631309349302153
Schema version
2014v6.0
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

FieldValueIRS element (for citing)
Return2016-05-09T15:27:16-05:00ReturnTs
Tax Period End2015-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN540565834PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MITCHELL WIGGINS & COMPANY LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11802 BAYBERRY COURT SUITE 300AddressLine1Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23226ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2014-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN541666531EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1VIRGINIA COMMONWEALTH UNIVERSITY REALBusinessNameLine1Txt
Business Name Line2ESTATE FOUNDATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlVIRGBusinessNameControlTxt
Phone8048289292PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 843075AddressLine1Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP232843075ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonTIMOTHY A GRAFPersonNm
Person TitleTREASURERPersonTitleTxt
Phone8048289292PhoneNum
Signature2016-05-08SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonM JAMES HARTSON JR CPAPreparerPersonNm
PTINP00590214PTIN
Phone8042826000PhoneNum
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-08-17 19:52:53ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerTIMOTHY A GRAFPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 843075AddressLine1Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP232843075ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$7,563,655GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.VCUREALESTATE.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1992FormationYr
Legal Domicile StateVALegalDomicileStateCd
Activity Or MissionTHE 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.ActivityOrMissionDesc
Voting Members Governing Body15VotingMembersGoverningBodyCnt
Voting Members Independent14VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$6,431,957PYProgramServiceRevenueAmt
CY Program Service Revenue$7,505,790CYProgramServiceRevenueAmt
PY Investment Income$28,837PYInvestmentIncomeAmt
CY Investment Income$7,447CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$50,418CYOtherRevenueAmt
PY Total Revenue$6,460,794PYTotalRevenueAmt
CY Total Revenue$7,563,655CYTotalRevenueAmt
PY Grants And Similar Paid$137,100PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$30,000CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$4,462,744PYOtherExpensesAmt
CY Other Expenses$5,552,246CYOtherExpensesAmt
PY Total Expenses$4,599,844PYTotalExpensesAmt
CY Total Expenses$5,582,246CYTotalExpensesAmt
PY Revenues Less Expenses$1,860,950PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$1,981,409CYRevenuesLessExpensesAmt
Total Assets BOY$80,211,725TotalAssetsBOYAmt
Total Assets EOY$81,737,625TotalAssetsEOYAmt
Total Liabilities BOY$54,035,713TotalLiabilitiesBOYAmt
Total Liabilities EOY$53,465,386TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$26,176,012NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$28,272,239NetAssetsOrFundBalancesEOYAmt
MissionTHE 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.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$5,582,246ExpenseAmt
Grant$30,000GrantAmt
Revenue$7,556,208RevenueAmt
DescTO SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF REAL ESTATE USED IN THE UNIVERSITY'S EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES.Desc
Total Program Service Expenses$5,582,246TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (1)ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt BondsYes (1)TaxExemptBondsInd
Invest Tax Exempt Bonds0InvestTaxExemptBondsInd
Escrow Account0EscrowAccountInd
On Behalf Of Issuer0OnBehalfOfIssuerInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (1)TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document14IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members15GoverningBodyVotingMembersCnt
Independent Voting Member14IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Own WebsiteYes (X)OwnWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8048289292PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1700 WEST GRACE STREETAddressLine1Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP232843075ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerIndFormer Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
R BRADFORD PARTREA
DIRECTOR1.00Yes (X)$0$0$0
H LEON SHADOWEN JR
PRESIDENT1.00Yes (X)$0$0$0Yes (X)
JEFFREY H GUMENICK
DIRECTOR1.00Yes (X)$0$0$0
CAROL A MCCOY
DIRECTOR1.00Yes (X)$0$0$0
WILLIAM A ROYALL JR
DIRECTOR1.00Yes (X)$0$0$0
CECIL SEARS
DIRECTOR1.00Yes (X)$0$0$0
CHERYLE K TOY
DIRECTOR1.00Yes (X)$0$0$0
GEORGE P EMERSON JR
VICE PRESIDENT1.00Yes (X)$0$0$0Yes (X)
ALAN T LINGERFELT
DIRECTOR1.00Yes (X)$0$0$0
ROBERT L HANSAN
DIRECTOR1.00Yes (X)$0$0$0
DR MICHAEL RAO
EX-OFFICIO DIRECTOR1.00Yes (X)$0$641,031$79,399
JB CAMPBELL
DIRECTOR1.00Yes (X)$0$0$0
KAMLESH N DAVE
DIRECTOR1.00Yes (X)$0$0$0
JOHN C JACOBY
DIRECTOR1.00Yes (X)$0$0$0
F DAVIS DRUMHELLER JR
DIRECTOR1.00Yes (X)$0$0$0
HARRY E WYATT JR
SECRETARY1.00$0$110,087$20,255Yes (X)
PAMELA CURREY
TREASURER4.00$0$0$0Yes (X)
KEVIN W DAVENPORT
FORMER TREASURER1.00$0$130,194$33,089Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$881,312TotReportableCompRltdOrgAmt
Total Other Compensation$132,743TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedYes (1)FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
RENTAL INVESTMENTS ONE LLC
2903-A BOULEVARDCOLONIAL HEIGHTSVA23834CONSTRUCTION$9,257,455
THE TRENT CORPORATION
1840 W BROAD STREETRICHMONDVA23220CONSTRUCTION$3,138,532
21 DELTA FINANCIAL SERVICES
5502 SEQUOIA FARMS DR SUITE 200CENTERVILLEVA20120CONSTRUCTION$458,997
BARBIZON LIGHTING COMPANY
6437-G GENERAL GREEEN WAYALEXANDRIAVA22312CONSTRUCTION$149,793
HUNTON & WILLIAMS
951 EAST BYRD STREETRICHMONDVA23219LEGAL$124,488
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K5CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescRENTAL INCOMEDesc
Business531190BusinessCd
Total Revenue Column$7,505,790TotalRevenueColumnAmt
Related Or Exempt Func Income$7,505,790RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$7,505,790TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$7,447TotalRevenueColumnAmt
Exclusion$7,447ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
MISCELLANEOUS900099$81,059$81,059
LOSS FROM PASSTHROUGH900099-$30,641-$30,641
FieldValueIRS element (for citing)
Other Revenue Total$50,418OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$7,563,655TotalRevenueColumnAmt
Related Or Exempt Func Income$7,556,208RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$7,447ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$30,000TotalAmt
Program Services$30,000ProgramServicesAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$232,100TotalAmt
Program Services$232,100ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$29,088TotalAmt
Program Services$29,088ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$20,900TotalAmt
Program Services$20,900ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$5,600TotalAmt
Program Services$5,600ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$1,615,793TotalAmt
Program Services$1,615,793ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$1,386,052TotalAmt
Program Services$1,386,052ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$2,091,943TotalAmt
Program Services$2,091,943ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$71,240TotalAmt
Program Services$71,240ProgramServicesAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
PLANNING AND DEVELOPMEN$50,027$50,027
MISCELLANEOUS$29,636$29,636
BAD DEBTS$19,867$19,867

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,582,246TotalAmt
Program Services$5,582,246ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,893,934BOYAmt
EOY$3,267,677EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$5,606,540BOYAmt
EOY$5,114,339EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
EOY$81,059EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$146,139BOYAmt
EOY$119,317EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$74,347,749LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$14,565,029LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$44,044,489BOYAmt
EOY$59,782,720EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$7,171,118BOYAmt
EOY$7,318,750EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$21,349,505BOYAmt
EOY$6,053,763EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$80,211,725BOYAmt
EOY$81,737,625EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$3,020,537BOYAmt
EOY$465,220EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$5,468,602BOYAmt
EOY$5,272,000EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$37,780,054BOYAmt
EOY$36,279,153EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$3,370,920BOYAmt
EOY$7,223,334EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$4,395,600BOYAmt
EOY$4,225,679EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$54,035,713BOYAmt
EOY$53,465,386EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$26,176,012BOYAmt
EOY$28,272,239EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$26,176,012BOYAmt
EOY$28,272,239EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$80,211,725BOYAmt
EOY$81,737,625EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$1,981,409ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$109,320NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$5,498OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type3 Func IntYes (X)SupportingOrgType3FuncIntInd
Supported Organizations1SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp

Supported Organization Name SupportedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1VIRGINIA COMMONWEALTH UNIVERSITYBusinessNameLine1Txt
FieldValueIRS element (for citing)
EIN546001758EIN
Organization Type6OrganizationTypeCd
Governing Document ListedYes (1)GoverningDocumentListedInd
Support$30,000SupportAmt
Other Support$0OtherSupportAmt
FieldValueIRS element (for citing)
Supported Organizations Total1SupportedOrganizationsTotalCnt
Support Sum$30,000SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (1)ListedByNameGoverningDocInd
Suprt Org No IRS Determination0SuprtOrgNoIRSDeterminationInd
Supported Org Section C4560SupportedOrgSectionC456Ind
Supported Org Not Organized US0SupportedOrgNotOrganizedUSInd
Organization Change Suprt Org0OrganizationChangeSuprtOrgInd
Support Non Supported Org0SupportNonSupportedOrgInd
Payment Substantial Contribtr0PaymentSubstantialContribtrInd
Loan Disqualified Person0LoanDisqualifiedPersonInd
Controlled Disqualified Prsn0ControlledDisqualifiedPrsnInd
Disqualified Prsn Controll Int0DisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr Int0DisqualifiedPrsnOwnrIntInd
Excess Business Holdings Rules0ExcessBusinessHoldingsRulesInd
Contribution Controller0ContributionControllerInd
Contribution Family0ContributionFamilyInd
Contribution35 Controlled0Contribution35ControlledInd

Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp

FieldValueIRS element (for citing)
Timely Provided DocumentsYes (1)TimelyProvidedDocumentsInd
Officers Close RelationshipYes (1)OfficersCloseRelationshipInd
Supported Org Voice InvestmentYes (1)SupportedOrgVoiceInvestmentInd

Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp

FieldValueIRS element (for citing)
Governmental EntityYes (X)GovernmentalEntityInd

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
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.

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$8,709,641OtherCostOrOtherBasisAmt
Book Value$8,709,641BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$63,972,077OtherCostOrOtherBasisAmt
Depreciation$13,553,290DepreciationAmt
Book Value$50,418,787BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,666,031OtherCostOrOtherBasisAmt
Depreciation$1,011,739DepreciationAmt
Book Value$654,292BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$59,782,720TotalBookValueLandBuildingsAmt

Closely Held Equity Interests CloselyHeldEquityInterestsGrp

FieldValueIRS element (for citing)
Book Value$38,312BookValueAmt
Method ValuationCMethodValuationCd

Other Securities OtherSecuritiesGrp

FieldValueIRS element (for citing)
DescUNITIZED POOL HELD BY VCU FOUNDATIONDesc
Book Value$7,280,438BookValueAmt
Method ValuationFMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Securities$7,318,750TotalBookValueSecuritiesAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
CONSTRUCTION IN PROGRESS$5,675,264
OTHER$54,212
BOND ISSUANCE COSTS, NET OF ACCUMULATED AMORTIZATION$324,287
FieldValueIRS element (for citing)
Total Book Value Other Assets$6,053,763TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
BOND PREMIUM, NET OF ACCUMULATED AMORTIZATION$1,920,934
DUE TO VIRGINIA COMMONWEALTH UNIVERSITY - BONDS PAYABLE$2,304,745
FieldValueIRS element (for citing)
Total Liability$4,225,679TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE FOUNDATION AND ITS CONTROLLED AFFILIATE, MONROE PARK CAMPUS CORPORATION, ARE 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 AND ITS CONTROLLED AFFILIATE, MONROE PARK CAMPUS CORPORATION, HAD NO UNRELATED BUSINESS INCOME DURING THE YEARS ENDED JUNE 30, 2015 AND 2014. THE ORGANIZATIONS HAVE DETERMINED THAT THEY DO NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AT JUNE 30, 2015. 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, 2015.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1VIRGINIA COMMONWEALTH UNIVERSITYBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1912 W FRANKLIN STREET POST OFFICEAddressLine1Txt
Address Line2BOX 843035AddressLine2Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP232843035ZIPCd
FieldValueIRS element (for citing)
Recipient EIN546001758RecipientEIN
IRC Section115IRCSectionDesc
Cash Grant$30,000CashGrantAmt
Purpose Of GrantASSISTANCE IS PROVIDED TO SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF REAL ESTATE USED IN THE UNIVERSITY'S EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES.PurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
DR MICHAEL RAO
EX-OFFICIO DIRECTOR$0$641,031$0$0$0$0$0$0$0$79,399$0$720,430$0$0
KEVIN W DAVENPORT
FORMER TREASURER$0$130,194$0$0$0$0$0$0$0$33,089$0$163,283$0$0

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (3 entries)

Bond ReferenceBondReferenceCdBond Issuer EINBondIssuerEINCUSIPCUSIPNumBond IssuedBondIssuedDtIssue PriceIssuePriceAmtPurposePurposeDescDefeasedDefeasedIndOn Behalf Of IssuerOnBehalfOfIssuerIndPool FinancingPoolFinancingInd
VIRGINIA SMALL BUSINESS FINANCING AUTHORITY
A541300845NONEAVAIL2013-12-10$3,705,282TO REFINANCE COST OF CONSTRUCTION FOR THE TECHNOLOGY ADMIN. BUILDING.000
VIRGINIA COMMONWEALTH UNIVERSITY
B546001758NONEAVAIL2013-02-08$22,289,949TO REFINANCE COST OF CONSTRUCTION FOR BROAD AND BELVIDERE STUDENT HSG. CTR.000
VIRGINIA COMMONWEALTH UNIVERSITY
C546001758NONEAVAIL2013-06-06$15,932,000TO FINANCE PROJECT COSTS OF 912 WEST GRACE ST. AND 801 WEST MARSHALL ST.000

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (3 entries)

Bond ReferenceBondReferenceCdRetiredRetiredAmtTotal ProceedsTotalProceedsAmtIssuance Costs From ProceedsIssuanceCostsFromProceedsAmtSubstantial CompletionSubstantialCompletionYrCurrent RefundingCurrentRefundingIndAdvance RefundingAdvanceRefundingIndFinal Allocation MadeFinalAllocationMadeIndAdequate Books And Rec MaintAdequateBooksAndRecMaintIndCapital ExpendituresCapitalExpendituresAmt
A$334,344$3,705,282$31,2822005Yes (1)0Yes (1)Yes (1)
B$1,975,000$22,289,949$261,2062013Yes (1)0Yes (1)Yes (1)$5,808,069
C$1,153,785$15,956,823$63,596201500Yes (1)Yes (1)$15,893,228

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (3 entries)

Bond ReferenceBondReferenceCdOwning Bond Financed PropertyOwningBondFinancedPropertyIndAny Lease ArrangementsAnyLeaseArrangementsIndMgmt Contract Bond Fincd PropMgmtContractBondFincdPropIndAny Research AgreementsAnyResearchAgreementsIndPrivate Bus Use By OthersPrivateBusUseByOthersPctPrivate Bus Concerning UBIPrivateBusConcerningUBIPctTotal Private Business UseTotalPrivateBusinessUsePctBond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestIndChange In Use Bond Financed PropChangeInUseBondFinancedPropIndProcs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
A00000.000000.000000.0000000Yes (1)
B00000.000000.000000.0000000Yes (1)
C00000.000000.000000.0000000Yes (1)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (3 entries)

Bond ReferenceBondReferenceCdForm8038 T FiledForm8038TFiledIndRebate Not Due YetRebateNotDueYetIndException To RebateExceptionToRebateIndNo Rebate DueNoRebateDueIndVariable Rate IssueVariableRateIssueIndHedge Identified In Bks And RecHedgeIdentifiedInBksAndRecIndGross Proceeds Invested In GICGrossProceedsInvestedInGICIndGross Proceeds InvestedGrossProceedsInvestedIndWritten Proc To Monitor ReqsWrittenProcToMonitorReqsInd
A00Yes (1)00000Yes (1)
B0Yes (1)Yes (1)00000Yes (1)
C00Yes (1)00000Yes (1)

Procedures Corrective Action ProceduresCorrectiveActionGrp (3 entries)

Bond ReferenceBondReferenceCdProcedures Corrective ActionProceduresCorrectiveActionInd
AYes (1)
BYes (1)
CYes (1)

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11THE 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 12CTHE 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 19THE 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 XI, LINE 9:TRANSFERS FROM MONROE PARK CAMPUS CORPORATION - RELATED ENTITY 5,498.
FORM 990 PART XII - LINE 2(C)THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)

Primary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtEINEIN
535 WEST BROAD LLC
REAL ESTATE HOLDING COMPANYVA$0$4,542,095VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION
VENTURE DEVELOPMENT LLC
REAL ESTATE HOLDING COMPANYVA$0$0VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION
800 WBS LLC
REAL ESTATE HOLDING COMPANYVA$0$0VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION474504437

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtControlled OrganizationControlledOrganizationIndDirect Controlling NADirectControllingNACd
MONROE PARK CAMPUS CORPORATION
809 WEST BROAD STREETRICHMONDVA232843075541661945TO SOLELY ASSIST AND SUPPORT VIRGINIA COMMONWEALTH UNIVERSITYVA501(C)(3)170(B)(1)(A)(VI)VCU REAL ESTATE FOUNDATIONYes (1)
VIRGINIA COMMONWEALTH UNIVERSITY
912 W FRANKLIN STREET POST OFFICE BRICHMONDVA232843035546001758PUBLIC UNIVERSITY WITH TWO MAIN CAMPUSESVA1150N/A

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1ART STATION LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1700 W GRACE STREETAddressLine1Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP232843040ZIPCd
FieldValueIRS element (for citing)
EIN462661466EIN
Primary ActivitiesRENTAL REAL ESTATEPrimaryActivitiesTxt
Legal Domicile StateVALegalDomicileStateCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1VCU REAL ESTATE FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Predominant Income TypeRELATEDPredominantIncomeTypeTxt
Share Of Total Income-$30,641ShareOfTotalIncomeAmt
Share Of EOY Assets$665,992ShareOfEOYAssetsAmt
Disproportionate Allocations0DisproportionateAllocationsInd
General Or Managing PartnerYes (1)GeneralOrManagingPartnerInd
Ownership0.99000OwnershipPct
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth OrgYes (1)RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other OrgYes (1)TransferToOtherOrgInd
Transfer From Other OrgYes (1)TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (6 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmt
VIRGINIA COMMONWEALTH UNIVERSITY
J$7,356,858
VIRGINIA COMMONWEALTH UNIVERSITY
R$30,000
VIRGINIA COMMONWEALTH UNIVERSITY
E$35,212,960
VIRGINIA COMMONWEALTH UNIVERSITY
P$1,046,441
MONROE PARK CAMPUS CORPORATION
S$5,498
VIRGINIA COMMONWEALTH UNIVERSITY
S$1,103,087

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