2013-02-18T13:10:16-06:00 2012-06-30 DABBS HICKMAN HILL & CANNON LLP 319 S MAIN ST STATESBORO GA 304580716 990 2011-07-01 300037158 GEORGIA SOUTHERN UNIVERSITY HOUSING FOUNDATION INC GEOR 9124787481 PO BOX 8020 STATESBORO GA 30460 RON CORE 9124787481 2013-02-12 WILLIAM R HICKMAN JR 9127646951 2013-02-18 X 2011 2016-03-07 17:11:31Z RON CORE PO BOX 8020 STATESBORO GA 30460 15342807 false X NONE X 2003 GA THE GEORGIA SOUTHERN UNIVERSITY HOUSING FOUNDATION, INC. EXISTS FOR THE PURPOSE OF PROVIDING STUDENT HOUSING AND FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY. THE ORGANIZATION IS RESPONSIBLE FOR BUILDING OR RENOVATING THE STUDENT HOUSING AND FACILITIES. 6 3 0 0 0 10456358 14821902 705774 520905 0 11162132 15342807 0 0 0 0 0 9138714 14840015 9138714 14840015 2023418 502792 420150832 401283276 414947692 392384806 5203140 8898470 X THE GEORGIA SOUTHERN UNIVERSITY HOUSING FOUNDATION, INC. EXISTS FOR THE PURPOSE OF PROVIDING STUDENT HOUSING AND FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY. THE ORGANIZATION IS RESPONSIBLE FOR BUILDING OR RENOVATING THE STUDENT HOUSING AND FACILITIES. false false 14840015 PROVIDING HOUSING AND FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY STUDENTS PROVIDE HOUSING AND FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY STUDENTS 14840015 true false false false false false false false false false true false false true true false true true false false false false false false false false false false false true true false false false false false false false false false false false false false false true true false false false false true 0 0 0 false false false false false false false false false false X 6 3 false false false false false false false true true false false false false true true false false false X MAURA COPELAND 9124787481 PO BOX 8020 STATESBORO GA 30460 X BROOKS A KEEL 0.50 X X 0 361600 23100 SALINDA ARTHUR 0.50 X 0 256000 23100 RON CORE 4.00 X X 0 203500 20920 TOMMY DAVID 0.50 X 0 0 0 EG MEYBOHM 0.50 X 0 0 0 BOB LANE 0.50 X 0 0 0 MAURA COPELAND 2.00 X 0 110000 11308 931100 78428 false true false THE PROPERTY MART LLC 1800 CHANDLER ROAD STATESBORO GA 30458 PROPERTY MGMT 452923 MURRAY BARNES FINISTER LLP ONE CAPITAL CITY PLAZA STE 1140 3350 PEACHTREE ROAD ATLANTA GA 30326 LEGAL FEES 111435 2 LEASE INTEREST INCOME 8522074 8522074 CAMPUS CLUB APARTMENTS 4757078 4757078 REPLACEMENT & RESERVE INCOME 809591 809591 GAIN ON CAPITAL LEASE 506978 506978 OTHER INCOME 226181 226181 14821902 520905 520905 15342807 10585729 4757078 48727 48727 81418 81418 10000 10000 10155789 10155789 1173775 1173775 115467 115467 RENTAL EXPENSES 2991768 2991768 PREPAID RENT AMORTIZATION 170352 170352 ADMINISTRATIVE 44558 44558 BOND ISSUANCE COST AMORT 40116 40116 8045 8045 14840015 14840015 0 0 3975274 5543853 30578612 29443242 426939 416009 3611958 3513769 36278903 1369404 34822117 34909499 346735932 327456904 420150832 401283276 4582639 4778420 70844564 54754480 209605000 206630000 2140000 1095000 127775489 125126906 414947692 392384806 X -5860471 8898470 11063611 5203140 8898470 420150832 401283276 X 502792 3192538 X false true true X false X X X false false false GEORGIA SOUTHERN UNIVERSITY 586002059 2 true true true 14840015 1 14840015 false false false false false false false false false false 1007387 1007387 30000000 875000 29125000 1033770 1033770 4237746 494404 3743342 34909499 NET INVESTMENT IN DIRECT FINANCING 167690621 INTEREST INCOME RECEIVABLE 110932132 REPLACEMENT RESERVE 43937458 NET BOND ISSUANCE COST 3149211 CONSTRUCTION IN PROGRESS 1195528 OTHER RECEIVABLE 551954 327456904 UNEARNED INTEREST INCOME 110932132 DUE TO GEORGIA SOUTHERN UNIVERSTIY 6104928 REPLACEMENT RESERVE PAYABLE 5585342 BOND ISSUANCE COSTS, NET 2032478 UNEARNED REVENUE 287111 OTHER PAYABLES 184915 125126906 15342807 14840015 502792 502792 15342807 15342807 15342807 14840015 14840015 14840015 false false false false false false false false false BROOKS A KEEL 342200 19400 23100 384700 SALINDA ARTHUR 250000 6000 23100 279100 RON CORE 203500 20920 224420 STUDENT HOUSING REV BND SERIES 2008 2008-03-06 69000000 PROCEEDS TO FINANCE THE COSTS OF THE ACQUISITION, CONSTRUCTION AND false true false REVENUE BONDS SERIES 2005A 2005-03-09 35530000 PROCEEDS USED TO FINANCE OR REFINANCE, IN WHOLE OR IN PART, THE COST OF false true false LEASE REVENUE BONDS SERIES 2004 2004-05-03 35900000 PROCEEDS TO FINANCE OR REIMBURSE, IN WHOLE OR IN PART, THE COST OF THE false true false STUDENT HSING REV BONDS SERIES 2011 2011-05-26 42770000 TO ACQUIRE AND IMPROVE APPROXIMATELY 276 UNITS AND 984 BEDS OF STUDENT false true false 2008 false false true true 2006 false false true true 2005 false false true true 2012 false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false PURPOSE OF ISSUE DESCRIPTION SCHEDULE K STUDENT HOUSING REV BND SERIES 2008 EQUIPPING OF STUDENT HOUSING COMPRISING APPROXIMATELY 1473 BEDS AND RELATED AMENITIES LOCATED AT THE CAMPUS OF GEORGIA SOUTHERN UNIVERSITY TO FUND CAPITALIZED INTEREST ON THE SERIES 2008 BONDS TO FUND A DEBT SERVICE RESERVE TO PAY COSTS OF ISSUANCE OF THE SERIES 2008 BONDS AND TO PAY THE PREMIUM FOR A FINANCIAL GUARANTY INSURANCE POLICY FOR THE SERIES 2008 BONDS TO BE ISSUED BY THE BOND INSURER REVENUE BONDS SERIES 2005A CONSTRUCTION AND RENOVATION OF THE EXISTING RECREATION ACTIVITY CENTER THE RAC LOCATED ON THE CAMPUS OF GEORGIA SOUTHERN UNIVERSITY STATESBORO GEORGIA INCLUDING THE ERECTION OF AN ADDITION TO THE RAC AND THE CONSTRUCTION AND RENOVATION OF SIX ATHLETIC FIELDS AND ADDITIONAL PARKING FACILITIES TO FUND CAPITALIZED INTEREST ON THE BONDS TO FUND A DEBT SERVICE RESERVE FUND FOR THE BONDS AND TO PAY THE COSTS OF ISSUING THE BONDS INCLUDING THE PREMIUM FOR A FINANCIAL GUARANTY INSURANCE POLICY FOR THE BONDS LEASE REVENUE BONDS SERIES 2004 DEMOLITION ACQUISITION CONSTRUCTION AND IMPROVEMENT OF CERTAIN LAND BUILDINGS AND PROPERTY LOCATED ON THE CAMPUS OF GEORGIA SOUTHERN UNIVERSITY STATESBORO GEORGIA INCLUDING THE CONSTRUCTION OF AN APPROXIMATELY 782 BED STUDENT HOUSING FACILITY AND CONSTRUCTION AND IMPROVEMENTS TO ATHLETIC FACILITIES COMPRISED OF A TRACK A SOCCER FIELD A WEIGHT ROOM RENOVATION AND EXPANSION AND A BASEBALL STADIUM RENOVATION AND EXPANSION TO FUND CAPITALIZED INTEREST ON THE BONDS TO FUND A DEBT SERVICE RESERVE FUND FOR THE BONDS AND TO PAY THE COSTS OF ISSUING THE BONDS INCLUDING THE PREMIUM FOR A FINANCIAL GUARANTY INSURANCE POLICY FOR THE BONDS STUDENT HSING REV BONDS SERIES 2011 HOUSING AND AMENITIES INCLUDING POOL AND SURFACE PARKING ORGANIZATION'S MISSION FORM 990 - ORGANIZATION'S MISSION THE GEORGIA SOUTHERN UNIVERSITY HOUSING FOUNDATION, INC. EXISTS FOR THE PURPOSE OF PROVIDING STUDENT HOUSING AND FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY. THE ORGANIZATION IS RESPONSIBLE FOR BUILDING OR RENOVATING THE STUDENT HOUSING AND FACILITIES. ALL OTHER ACCOMPLISHMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4D PROVIDE HOUSING AND FACILITIES FOR GEORGIA SOUTHERN UNIVERSITY STUDENTS ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE TREASURER AND SECRETARY REVIEW THE FORM 990 BEFORE FILING. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE GOVERNING BOARD, AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE EMMA.ORG WEBSITE. GROUP RETURN METHOD FORM 990, PAGE 7, PART VII PARENT ORGANIZATION HAS FILED A CONSOLIDATED RETURN RELATED ORGANIZATIONS FORM 990, PAGE 7, PART VII THE FOLLOWING OFFICERS SPEND APPROXIMATELY 40+ AVERAGE HOURS PER WEEK ON RELATED ORGANIZATIONS: BROOKS KEEL, RON CORE, MAURA COPELAND, AND SALINDA ARTHUR. THE FOLLOWING OFFICERS DO NOT SPEND ANY HOURS ON RELATED ORGANIZATIONS: TOMMY DAVID, E.G. MAYBOHM, AND BOB LANE. OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 5 DUE TO THE NATURE OF INVESTMENTS HELD BY THE ORGANIZATION, UNREALIZED GAINS AND LOSSES ARE REPORTED UNDER COMPREHENSIVE INCOME ON THE AUDITED FINANCIAL STATEMENTS. THESE FLUCTUATIONS DO NOT CONSTITUTE INCOME FOR TAX RETURN PURPOSES, SO ARE ADJUSTED OUT. THE CURRENT YEAR UNREALIZED LOSS WAS 25,616, RESULTING IN A DECREASE TO NET ASSETS. UPON FURTHER REVIEW OF A CAPITAL LEASE, THE ORGANIZATION DETERMINED THAT THE LEASE AMOUNT WAS NOT IN AGREEMENT WITH THE FINAL CAPITAL LEASE RECEIVED FROM THE STATE OF GEORGIA. A PRIOR PERIOD ADJUSTMENT WAS RECORDED TO AGREE THE CAPITAL LEASE TO THE VERIFIED AMORTIZATION SCHEDULES. THIS ADJUSTMENT REMOVED THE REPLACEMENT RESESERVE RECEIVABLE AND DEFERRAL AND ADJUSTED THE RELATED PRINCPAL AND INTEREST INCOME RECEIVABLE. THIS RESULTED IN A PRIOR PERIOD ADJUSTMENT INCREASING NET ASSETS IN THE AMOUNT OF 3,318,154. IN ADDITION, MANAGEMENT DECIDED TO REMOVE THE ADMINISTRATIVE FEES RECEIVABLE AND RELATED DEFERRAL FOR ALL SUBSIDIARIES. THEY DETERMINED THAT THESE AMOUNTS WERE BASED ON THE PRO-FORMA FINANCIAL CASH FLOW ANALYSIS AND NOT THE ACTUAL BOND DUCUMENTS OR LEASE AGREEMENTS. THE ADMINISTRATIVE FEES RECEIVABLE AND THE RELATED DEFERRAL DID NOT AGREE DUE TO A TIMING ISSUE OF THE RECEIPT OF LEASE PAYMENTS, RESULTING IN A PRIOR PERIOD ADJUSTMENT INCREASING NET ASSETS BY 100,000 WHEN THESE ACCOUNTS WERE REMOVED. GSU HOUSING FOUNDATION 1 PO BOX 8020 STATESBORO GA 30460 LEASE GA 1797621 58164214 GSUHF INC GSU HOUSING FOUNDATION 2 PO BOX 8020 STATESBORO GA 30460 LEASE GA 1780296 53358333 GSUHF INC GSU HOUSING FOUNDATION 3 PO BOX 8020 STATESBORO GA 30460 LEASE GA 2326236 69785788 GSUHF INC GSU HOUSING FOUNDATION 4 PO BOX 8020 STATESBORO GA 30460 LEASE GA 4430500 159798863 GSUHF INC GSU HOUSING FOUNDATION 5 PO BOX 8020 STATESBORO GA 30460 REAL ESTAT GA 4953352 58910265 GSUHF INC GSU HOUSING FOUNDATION 6 PO BOX 8020 STATESBORO GA 30460 LEASE GA 1195528 GSUHF INC GASO TEMPORARY DINING LLC PO BOX 8020 STATESBORO GA 30460 LEASE GA 85416 GSUHF INC GEORGIA SOUTHERN UNIVERSITY PO BOX 8020 STATESBORO GA 30460 586002059 UNIVERSITY GA 170(B) 2 N/A false false false false false true false false false true true false false true true true false false false GEORGIA SOUTHERN UNIVERSITY E 6104928 GENERAL LEDGER ACCOUNTS GEORGIA SOUTHERN UNIVERSITY I 9861748 LEASE AMORT SCHEDULES GEORGIA SOUTHERN UNIVERSITY J 50 LAND LEASE GEORGIA SOUTHERN UNIVERSITY M SEE BELOWINCLUDE IN PROF GEORGIA SOUTHERN UNIVERSITY N 76524 PROF SVCS GEORGIA SOUTHERN UNIVERSITY O 76524 REIMBURSEMENT FOR PROF SV