2013-05-15T09:45:46-05:00 2012-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2011-07-01 311755006 DELAWARE STATE UNIVERSITY STUDENT HOUSING FOUNDATION % AMIR MOHAMMADI DELA 3028576200 1200 NORTH DUPONT HIGHWAY DOVER DE 19901 DR TERESA HARDEE EDD CPA 3028576200 2013-05-08 true Russlee Armstrong 2155614200 2011 2016-02-24 21:20:13Z AMIR MOHAMMADI 1200 NORTH DUPONT HIGHWAY DOVER DE 19901 11182493 false X N/A X 2002 DE THE FOUNDATION WAS ORGANIZED FOR THE PURPOSE OF ACQUIRING, DEVELOPING, CONSTRUCTING, & OPERATING STUDENT HOUSING FACILITIES FOR THE STUDENTS & FACULTY AT DELAWARE STATE UNIVERSITY. X 5 3 0 0 0 0 0 10043485 8280731 120516 56765 0 -2198800 10164001 6138696 158929 162277 0 0 697524 569364 0 0 0 8063618 5794554 8920071 6526195 1243930 -387499 51598741 16398624 51441042 16599303 157699 -200679 THE STUDENT HOUSING FOUNDATION WAS ORGANIZED FOR THE PURPOSE OF ACQUIRING, DEVELOPING, CONSTRUCTING, AND OPERATING STUDENT HOUSING FACILITIES FOR THE STUDENTS AND FACULTY AT DELAWARE STATE UNIVERSITY. FOR THE YEAR ENDED JUNE 30, 2012, THE PROPERTY HAD 416 BEDS. false false 5342282 162277 6854223 THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE HOUSING FOR DELAWARE STATE UNIVERSITY STUDENTS, PRIMARILY UPPER CLASSMEN. SERVICES INCLUDE ALL LANDLORD SERVICES ANCILLARY TO THE OPERATION OF A RESIDENTIAL FACILITY. 1110460 1426508 THE FOUNDATION PROVIDES MEAL PLANS FOR DELAWARE STATE UNIVERSITY STUDENTS WHO RESIDE IN THE ORGANIZATION'S HOUSING FACILITY. 6452742 true false false false false false false false false false true false false true false false false true false false false false false false false false false false true true true false false false false false false false false false false false false false true false true false false false false true 0 0 0 false true false false false false false false false false false X 5 3 false false false false false false false true true false false true true true true true true false false false DE X AMIR MOHAMMADI 3028576200 1200 NORTH DUPONT HIGHWAY 3RD FLOO DOVER DE 19901 X AMIR MOHAMMADI 5.0 X X 0 196272 60237 BEVERLY SWANN 5.0 X X 0 0 NED BROWN 5.0 X X 0 0 KEN TYRE 5.0 X 0 0 RODNEY MCNAIR 5.0 X 0 84377 34078 0 280649 94315 0 false true false Thompson Hospitality 505 Huntmar Park Drive Suite 350 HERNDON VA 20170 Meal Services 1110460 Tri-State Carpet 2 South Poplar Street WILMINGTON DE 19801 Repairs & Maint 286772 2 0 STUDENT HOUSING 611710 6795148 6795148 MEAL PLANS 611710 1426508 1426508 APPLICATION FEES 611710 29800 29800 DORM DAMAGES 611710 6855 6855 CONCESSION REVENUES 611710 2717 2717 19703 19703 8280731 47034 47034 0 0 5053528 5043797 9731 9731 9731 0 0 0 TRANSFER OF VILLAGE NET ASSETS -2198800 -2198800 -2198800 6138696 6081931 56765 0 162277 162277 0 0 0 0 569364 569364 0 0 0 0 8000 8000 41199 41199 0 0 35763 35763 0 0 28527 28527 266507 266507 0 0 1163 1163 0 0 894156 894156 257532 257532 1005072 1005072 68149 68149 DINING HALL FOOD SERVICE 1110460 1110460 REPAIRS AND MAINTENANCE 752220 752220 UTILITIES 673124 673124 LETTER OF CREDIT FEES 406012 406012 246670 246670 6526195 6452742 73453 0 4470 0 3113384 100004 0 0 4648461 67110 0 0 0 0 0 0 0 0 0 15767 15099746 4716728 36687296 10383018 3652711 2600484 0 0 0 0 0 0 3492419 3232241 51598741 16398624 1168732 689237 0 0 587535 236409 49684775 15673657 0 0 0 0 0 0 0 0 0 0 51441042 16599303 X 157699 -200679 0 0 0 0 157699 -200679 51598741 16398624 X -387499 29121 X false true true X false X X X X false false false DELAWARE STATE UNIVERSITY 510305893 02 true true true 5521124 1 5521124 13986946 3627523 10359423 1112800 1089205 23595 10383018 DUE FROM AFFILIATE 2682098 BOND ISSUANCE COST 411869 OTHER ASSETS 138274 3232241 6138696 6526195 -387499 29121 29121 -358378 6005540 29121 -162277 -133156 6138696 6138696 6363918 6363918 162277 162277 6526195 RECONCILIATION OF NET ASSETS SCHEDULE D, PART XI, LINE 8 Net unrealized gains $29,121 RECONCILIATION OF REVENUE SCHEDULE D, PART XII LINE 2D - SCHOLARSHIP EXPENSES (RECLASS) $(162,277) RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII LINE 4B - SCHOLARSHIP EXPENSES (RECLASS) $162,277 true SCHOLARSHIPS 35 162227 Schedule I, Part I, Line 1 Delaware Student Housing Foundation offers scholarships to students of Delaware State University based on merit and need. These scholarships are remitted directly to the University to defray the costs of matriculating at the University. As such, there is no need to monitor the grants. false false false false false false false false false AMIR MOHAMMADI 0 183272 0 0 0 13000 0 36823 0 23414 0 256509 Series 2004 B&C 516000145 0490236BM 2004-01-21 35900000 New Constr Residence Hall true false false SERIES 2004 A 516000145 090236AY2 2004-01-21 18420000 Refinance of 2000 and 2002 false false false 0 33870000 35991450 0 0 0 0 0 0 0 0 0 false false true true 0 0 18053757 1183219 0 16247596 194098 0 0 0 0 0 true false true true false false true false false 0.00000 0.05700 0.05700 true false false false false 0.00000 0.00000 0.00000 true false true true WACHOVIA BANK 1. false true false 0 true false false false false 0 0 false false University Village Apartments 2012-03-01 2198800 Net Book Value 510305893 Delaware State University North Dupont Highway Dover DE 19901 501(c)(3) false false false false FORM 990, PART VI, SECTION B, LINE 11 THE STUDENT HOUSING FOUNDATION'S FORM 990 WAS PREPARED BY AN INTERNATIONAL PUBLIC ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. A COPY OF THE DRAFT FORM 990 WAS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. EACH BOARD MEMBER WAS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE FORM 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION OPERATES UNDER THE CONFLICT OF INTEREST POLICY OF ITS PARENT ORGANIZATION, DELAWARE STATE UNIVERSITY. EACH OFFICER, DIRECTOR, TRUSTEE, AND KEY EMPLOYEE OF THE UNIVERSITY IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE UNIVERSITY. THE UNIVERSITY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINES 13 AND 14 THE ORGANIZATION OPERATES UNDER THE WHISTLEBLOWER AND DOCUMENT RETENTION POLICIES OF ITS PARENT ORGANIZATION, DELAWARE STATE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT PROVIDE ANY COMPENSATION TO THE INDIVIDUALS LISTED ON PART VII OF THE FORM 990. ALL COMPENSATION PAID TO THESE INDIVIDUALS IS PAID BY A RELATED ORGANIZATION, DELAWARE STATE UNIVERSITY. THE PROCESS USED TO DETERMINE THE COMPENSATION OF THESE INDIVIDUALSS IS REPORTED ON THAT ORGANIZATION'S FORM 990. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. TAX-EXEMPT BONDS SCHEDULE K, PART III, LINE 4 & LINE 6 Although the private business use percentage exceeded the permitted private business use limitation for qualified 501(c)(3) bonds for this fiscal year, the Foundation expects to reduce the private business use in future years such that the limit over the term of the bonds and economic life of the bond-financed facilities does not exceed the limitation. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:AMIR MOHAMMADI TITLE:PRESIDENT HOURS:55 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:RODNEY MCNAIR TITLE:Trustee HOURS:35 DELAWARE STATE UNIVERSITY 1200 NORTH DUPONT HIGHWAY DOVER DE 19901 510305893 EDUCATION DE 501(c)(3) 2 false false false false false false false false false false true true false true true true true false false