2011-05-16T16:17:41-04:00 2010-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2009-07-01 311755006 DELAWARE STATE UNIVERSITY STUDENT HOUSING FOUNDATION DELA 3028576200 1200 NORTH DUPONT HIGHWAY DOVER DE 19901 AMIR MOHAMMADI 3028576200 2011-05-16 true 2155614200 2009 2016-02-24 21:20:13Z AMIR MOHAMMADI 1200 NORTH DUPONT HIGHWAY DOVER DE 19901 13093120 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. 5 3 0 0 0 0 0 0 638381 9877219 1414 88887 0 0 639795 9966106 0 167425 0 0 61279 598255 0 0 0 681799 7835044 743078 8600724 -103283 1365382 52621524 51420469 55191408 52426017 -2569884 -1005548 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, 2010, THE PROPERTY HAD 1,040 BEDS AND 4 ROOMS FOR OFFICE SPACE. false false 6330406 167425 7934862 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. 1790114 0 1942357 THE FOUNDATION PROVIDES MEAL PLANS FOR DELAWARE STATE UNIVERSITY STUDENTS WHO RESIDE IN THE ORGANIZATION'S HOUSING FACILITY. 8120520 true false false false false false false false false true 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 false false true false false false true 0 0 0 false false false false false false false false false 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 222705 13981 BEVERLY SWANN 5.0 X 0 0 0 NED BROWN 5.0 X 0 0 0 KEN TYRE 5.0 X 0 0 0 RODNEY MCNAIR 40.0 X 123714 0 18302 123714 222705 32283 1 false true false Thompson Hospitality 505 Huntmar Park Drive Suite 350 HERNDON VA 20170 Meal Services 1790114 Outside Unlimited 119 Maple Lane PO Box 252 TOUGHKENAMAN PA 19374 SNOW REMOVAL 257965 Grant Thornton LLP 1901 S Meyers Road Suite 455 OAKBROOK TERRACE IL 601815243 AUDITING SERVICES 188162 3 0 STUDENT HOUSING 611710 7822287 7822287 MEAL PLANS 611710 1824245 1824245 DINING HALL 611710 118113 118113 APPLICATION FEES 611710 52540 52540 DORM DAMAGES 611710 4653 4653 55381 55381 9877219 88086 88086 0 0 3127815 3127014 801 801 801 0 0 0 0 9966106 9877219 0 88887 0 167425 167425 0 0 0 0 598255 598255 0 0 0 0 57288 57288 188162 188162 0 0 42967 42967 0 358 358 68997 68997 148538 148538 0 0 70 70 0 0 970668 970668 310524 310524 1539058 1539058 78524 78524 DINING HALL FOOD SERVICE 1790114 1790114 REPAIRS AND MAINTENANCE 974356 974356 UTILITIES 871898 871898 LETTER OF CREDIT FEES 401664 401664 BAD DEBTS 50360 50360 341498 341498 8600724 8120520 480204 0 4370 4470 3869813 509589 378197 277108 48224839 10120949 39592773 38103890 7663870 8202011 1112501 4323401 52621524 51420469 2688736 1124992 549922 586902 51616063 50702919 336687 11204 55191408 52426017 X -2569884 -1005548 -2569884 -1005548 52621524 51420469 X false true true X true true X X X X false false false DELAWARE STATE UNIVERSITY 510305893 02 true true true 310524 1 310524 44847631 7101627 37746004 329701 329701 3047507 3019322 28185 38103890 DUE FROM AFFILIATE 3281019 DEFERRED CHARGES 705336 OTHER ASSETS 337046 4323401 0 INTEREST RATE SWAP 11204 11204 9966106 8600724 1365382 198954 198954 1564336 9997635 198954 198954 9798681 167425 167425 9966106 8433299 -167425 -167425 8600724 8600724 INCOME TAXES FORM 990, SCHEDULE D, PART X, LINE 2 The Delaware State University Student Housing Foundation is organized as a non-profit corporation under the laws of Delaware and is exempt from taxes under Section 501(c)(3) of the Internal Revenue Code. RECONCILIATION OF NET ASSETS SCHEDULE D, PART XI, LINE 8 RECONCILIATION OF REVENUE SCHEDULE D, PART XII LINE 4B - SCHOLARSHIP EXPENSES (RECLASS TO EXPENSE) 167,425 RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII LINE 2D - SCHOLARSHIP EXPENSES (RECLASS TO REVENUE) 167,425 true SCHOLARSHIPS 30 167425 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 College. As such, thre is no need to monitor the grants. false false false false false false false false false AMIR MOHAMMADI 0 177811 0 14495 0 30399 0 0 0 13981 0 236686 0 0 Series 2004 A 516000145 090236AY2 2004-01-21 18420000 REFINANCE OF 2000 AND 2002 false false Series 2004 B & C 516000145 0490236BM 2004-01-21 36300000 NEW CONSTR RESIDENCE HALL false false 18053757 1183219 16247596 true false true true 35991450 2232144 32413638 2004 false false true true false false true false true 0.05700 0.00000 0.05700 true false false false true true wachovia bank 1. false true false FORM 990, PART VI, SECTION B, LINE 11 THE STUDENT HOUSING FOUNDATION'S FORM 990 WAS PREPARED BY A NATIONALLY RENOWNED 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 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 INDIVIDULAS 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 RETIANING 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. Prior Year Revenue and Expenses Form 990, Part I The Delaware State University Student Housing Foundation changed its year end from May 31 to June 30 in the prior year. Accordingly, the Foundation filed a full year May 31, 2009 Form 990 and a short period, one month, June 30, 2009 Form 990. The prior year amounts for revenue and expenses reported on this Form 990, Part I Summary reflect only the one month activity reported on the June 30, 2009 Form 990 whereas the current year amounts for revenue and expenses reflect the full year June 30, 2010. 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. 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 true true false true true true true false false DELAWARE STATE UNIVERSITY O 310524