2012-11-14T11:26:00-06:00 2011-12-31 560747981 DIXON HUGHES GOODMAN LLP 4510 COX ROAD SUITE 200 GLEN ALLEN VA 230603394 990 2011-01-01 201612906 LONGWOOD UNIVERSITY REAL ESTATE FOUNDATION LONG 4343952086 515 E MAIN STREET FARMVILLE VA 23909 P KENNETH COPELAND JR 4343952086 2012-11-10 1 JANET L BROCKLEHURST CPA P00449539 8042827636 2011 2016-02-24 21:20:13Z P KENNETH COPELAND JR 515 E MAIN STREET FARMVILLE VA 23909 6027690 0 X N/A X 2004 VA TO ACQUIRE, HOLD, AND MANAGE REAL ESTATE FOR LONGWOOD UNIVERSITY. 13 9 0 0 0 0 0 0 5738321 6003331 16339 20108 804 4251 5755464 6027690 0 123800 0 0 202557 203017 0 0 0 6238897 6381446 6441454 6708263 -685990 -680573 50857707 52366028 58415146 66028521 -7557439 -13662493 THE FOUNDATION RECEIVES, MAINTAINS, AND ADMINISTERS REAL ESTATE ASSETS AND ACTIVITIES IN SUPPORT OF THE ADVANCEMENT AND TO FURTHER THE AIMS AND PURPOSES OF LONGWOOD UNIVERSITY. 0 0 6672508 6003331 ALL EXPENSES OF THE ORGANIZATION RELATE TO THE ACQUISITION AND MANAGEMENT OF REAL ESTATE FOR THE BENEFIT OF LONGWOOD UNIVERSITY. 6672508 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 9 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 1 1 0 VA X P KENNETH COPELAND 4343952086 515 MAIN STREET FARMVILLE VA 23909 OTIS BROWN 0.00 X X 0 0 0 KATHY S WORSTER 0.00 X 0 0 0 RICHARD W BRATCHER 0.00 X 0 0 0 BARRY J CASE 0.00 X 0 0 0 E DUFFY MYRTETUS 0.00 X 0 0 0 LOUISE WALLER 0.00 X 0 0 0 TIM J PIERSON 0.00 X 0 0 0 DR HELEN P WARRINER-BURKE 0.00 X 0 0 0 HUNTER WATSON 0.00 X 0 0 0 RAYMOND E BRANN 0.00 X 0 0 0 SHERRY SWINSON 0.00 X 0 0 0 THOMAS M BAILEY 0.00 X 0 0 0 CLAIRE REEVES LA ROCHE 0.00 X 0 0 0 P KENNETH COPELAND 40.00 X 0 102175 22160 0 102175 22160 0 0 0 0 ENGLISH CONSTRUCTION 615 CHURCH STREET LYNCHBURG VA 24504 CONSTRUCTION OF FACILITIES 1694163 TOWN OF FARMVILLE 116 NORTH MAIN STREET FARMVILLE VA 23901 CONSTRUCTION OF FACILITIES 589500 HANOVER INSURANCE CO 7130 GLEN FORREST DRIVE 200 RICHMOND VA 23226 INSURANCE 104623 3 RENT 531110 5913544 5913544 PARKING 531390 89787 89787 6003331 20108 20108 MISCELLANEOUS INCOME 531390 4251 4251 4251 6027690 6003331 0 24359 123800 123800 96604 86944 9660 106413 95771 10642 391198 391198 7441 5953 1488 38349 30679 7670 43323 42275 1048 1580331 1580331 4578 301 4277 2214768 2214768 1914286 1914286 128353 128353 CONDOMINIUM ASSOCIATION 49124 49124 OTHER EXPENSE 9695 8725 970 6708263 6672508 35755 0 237938 14369 302458 298538 23225 25019 55835095 8280334 45702707 47554761 640403 3950976 4473341 50857707 52366028 487325 562419 40745000 40225000 17182821 25241102 58415146 66028521 X -7557439 -13662493 -7557439 -13662493 50857707 52366028 X -680573 -5424481 X X 0 1 1 X 0 X X X 0 0 0 LONGWOOD UNIVERSITY 546001788 6 1 1 0 1 0 SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: IN SUPPORT OF SCHEDULE A, PART I, LINE 11H, COLUMN VII - THERE IS NO MONETARY SUPPORT BECAUSE THE FOUNDATION PROVIDES LEASING OF STUDENT HOUSING AND OTHER STUDENT RELATED FACILITIES TO LONGWOOD UNIVERSITY (THE SUPPORTED ORGANIZATION). THEREFORE, IN LIEU OF MONETARY SUPPORT, THE FOUNDATION PROVIDED ACCESS TO THE FACILITIES UNDER LEASE AGREEMENTS, AND PAID TO LONGWOOD UNIVERSITY, MANAGEMENT FEES AND OTHER ANCILLARY SERVICE FEES THAT WERE PROVIDED BY THE UNIVERSITY. SEE SCHEDULE R. 7472657 7472657 31790613 5668636 26121977 448999 310627 138372 2247306 1086929 1160377 13875520 1214142 12661378 47554761 DUE FROM LONGWOOD UNIVERSITY 192785 NET LOAN COSTS 1256215 RESTRICTED DEPOSITS AND FUNDED RESERVES 2960165 DUE FROM LONGWOOD UNIVERSITY FOUNDATION 57676 OTHER ASSETS 6500 4473341 LINE OF CREDIT 7732106 LONG TERM DEBT 4912529 SWAP VALUATION 12596467 25241102 6027690 6708263 -680573 -5424481 -5424481 -6105054 603209 -5424481 -5424481 6027690 0 6027690 6708263 0 6708263 0 6708263 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND THE TAX STATUTES OF THE COMMONWEALTH OF VIRGINIA; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATIONS WHOLLY OWNED SUBSIDIARIES ARE DISREGARDED ENTITIES FOR TAX PURPOSES AND ARE INCLUDED IN THE FOUNDATIONS FILINGS. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2011. FISCAL YEARS ENDING ON OR AFTER 2008 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -5,424,481. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -5,424,481. 0 LONGWOOD UNIVERSITY 201 HIGH STREET FARMVILLE VA 23909 546001788 STATE GOVERNMENT 123800 RENOVATIONS ON CAMPUS BED & BREAKFAST FACILITY. 1 0 INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF FARMVILLE VIRGINIA 311617AD6 2007-12-07 41855000 TO FINANCE AQUISITION OF PROPERTY HELD FOR BENEFIT OF LONGWOOD UNIVERSITY 0 0 0 41855000 1366848 1376527 2010 1 0 1 1 0 0 0 0 1 0 1 1 BANK OF AMERICA/MERRILL 30.000000000000 0 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 A DRAFT COPY OF THE 990 IS GIVEN TO THE EXECUTIVE DIRECTOR AND THE BOARD MEMBERS FOR A PERIOD OF TIME FOR CHANGES BEFORE THE 990 IS FILE. THE FINAL FORM 990 IS PRESENTED AT THE PRECEEDING BOARD OF TRUSTEES MEETING AND ALL BOARD MEMBERS WERE PROVIDED A COPY TO REVIEW AND ASK QUESTIONS. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE APPROVED BY LONGWOOD UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED LOSS ON INTEREST RATE SWAP -5,424,481. TOTAL TO FORM 990, PART XI, LINE 5: -5,424,481. FORM 990, PART XIII, LINE 2C: THERE WERE NO CHANGES TO THE PROCESS DURING THE FISCAL YEAR. LONGWOOD HOUSING FOUNDATION LLC HOLDS TITLE TO 3 STUDENT HOUSING PROJECTS VA 398004 39944193 N/A LONGWOOD WOODLAND POND HOUSING FOUNDATION LLC HOLDS TITLE TO CONDOMINIUM UNITS VA 76103 1562445 N/A LONGWOOD WOODLAND POND DEVELOPMENT FOUNDATION LLC HOLDS TITLE TO UNDEVELOPED LAND VA 0 315000 N/A LONGWOOD NORTH CAMPUS HOUSING LLC HOLDS TITLE TO STUDENT HOUSING PROJECTS VA 0 2357634 N/A LONGWOOD UNIVERSITY 201 HIGH STREET FARMVILLE VA 23909 546001788 HIGHER EDUCATION VA STATE GOVERNMENT LINE 6 N/A 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 1 0