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Nonprofiteer
← BLUGOLD REAL ESTATE FOUNDATION INC

Form 990 for tax year 2022

Filed by BLUGOLD REAL ESTATE FOUNDATION INC.

Totals

Total revenue
$11,327,178
Total expenses
$4,412,794
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,920,907
Investment income
$6,406,271
Other revenue
$0
Total assets, end of year
$100,691,745
Total liabilities, end of year
$50,273,285
Net assets or fund balances, end of year
$50,418,460
Program services expenses (Part IX)
$4,235,603
Management and general expenses
$177,191
Fundraising expenses
$0
Program service expenses (Part III)
$4,235,603

Program services were 96.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: UNIVERSITY HOUSING

    total $4,920,907 · related or exempt $4,920,907

  • 3 · Investment income

    total $1,024,486 · excluded $1,024,486

  • 7a · Gross sales of assets other than inventory

    other assets $8,175,323

  • 7b · Less cost or other basis and sales expenses

    other assets $2,793,538

  • 7c · Gain or loss

    other assets $5,381,785

  • 7d · Net gain or loss

    total $5,381,785 · excluded $5,381,785

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $52,072 · management and general $52,072

  • 11g · Fees: other

    total $60,270 · program services $4,900 · management and general $55,370

  • 13 · Office expenses

    total $9,496 · program services $892 · management and general $8,604

  • 16 · Occupancy

    total $518,035 · program services $517,016 · management and general $1,019

  • 20 · Interest

    total $1,721,742 · program services $1,721,742

  • 22 · Depreciation, depletion and amortization

    total $1,433,789 · program services $1,404,789 · management and general $29,000

  • 23 · Insurance

    total $31,126 · management and general $31,126

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $586,264 · program services $586,264

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,084,002 · end of year $4,123,387

  • 3 · Pledges and grants receivable

    beginning of year $37,000,000 · end of year $20,500,000

  • 7 · Other notes and loans receivable

    beginning of year $5,262,980 · end of year $29,760,776

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,513 · end of year $3,964

  • 10a · Land, buildings and equipment: cost or other basis

    $56,731,451

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,708,665

  • 10c · Land, buildings and equipment, net

    beginning of year $49,199,228 · end of year $45,022,786

  • 15 · Other assets

    beginning of year $330,979 · end of year $1,280,832

  • 17 · Accounts payable and accrued expenses

    beginning of year $423,071 · end of year $453,849

  • 19 · Deferred revenue

    beginning of year $3,122,231 · end of year $2,661,677

  • 20 · Tax-exempt bond liabilities

    beginning of year $29,871,054 · end of year $28,906,342

  • 23 · Secured mortgages and notes payable

    beginning of year $21,246 · end of year $0

  • 25 · Other liabilities

    beginning of year $17,939,024 · end of year $18,251,417

  • 27 · Net assets without donor restrictions

    beginning of year $409,804 · end of year $1,830,271

  • 28 · Net assets with donor restrictions

    beginning of year $43,094,272 · end of year $48,588,189

Mission and programs · 2022

Mission

N/A

Activities or mission (Part I)

THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. THE CORPORATION SHALL BE OPERATED FOR THE BENEFIT OF AND IN ALIGNMENT WITH THE UNIVERSITY OF WISCONSIN-EAU CLAIRE FOUNDATION, INC. AND THE UNIVERSITY OF WISCONSIN-EAU CLAIRE. THE MOST SIGNIFICANT ACTIVITIES OF THE CORPORATION ARE LISTED BELOW.TO ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER, AND OTHERWISE DEAL IN REAL ESTATE FOR USE AND ENJOYMENT BY, IN FURTHERANCE OF THE PURPOSE OF, AND FOR THE EXCLUSIVE BENEFIT OF THE UNIVERSITY OF WISCONSIN-EAU CLAIRE FOUNDATION, INC. AND THE UNIVERSITY OF WISCONSIN-EAU CLAIRE.TO RENT AFFORDABLE STUDENT HOUSING AND TO CREATE AFFORDABLE LOW INCOME HOUSING PROJECTS, PRIMARILY FOR STUDENTS (ESPECIALLY FOR LOW INCOME STUDENTS), AS DETERMINED IN ACCORDANCE WITH THE INCOME LIMITS PUBLISHED BY THE FEDERAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER THE NATIONAL HOUSING ACT OF 1937.

  • THE ORGANIZATION HOLDS SEVERAL PROPERTIES TO SUPPORT THE RESIDENTIAL HOUSING NEEDS OF THE UNIVERSITY STUDENTS AND FACULTY. IN ADDITION, THE ORGANIZATION HOLDS PROPERTIES TO SUPPORT THE PROGRAMS OF THE UNIVERSITY.

    Expenses $4,235,603 · Revenue $4,920,907

As filed on the 2022 return.

Listed in Part VII

  • Neil Lipinski

    PRESIDENT/CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.1 related

  • Terry McMahon

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Patricia Lien

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 0.1 related

  • Charlie Bauer

    DIRECTOR (THRU 10/2022)

    Total calculated
    $0
    Hours/week
    1

  • Chops Hancock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.1 related

  • Barry Moullet

    DIRECTOR (THRU 10/2022)

    Total calculated
    $0
    Hours/week
    1

  • Tim Olson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Semingson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kimera M Way

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 50 related

  • Coby Kohn

    TREASURER (THRU 10/2022)/CONTRACTED ACCT.

    Total calculated
    $0
    Hours/week
    1 + 45 related

  • Aspen Ryskoski

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 45 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BLUGOLD REAL ESTATE LLC

    REAL ESTATE · WI · income $352,163 · assets $6,979,476

    Directly controlled by BLUGOLD REAL ESTATE FOUNDATION INC

  • GTNT LLC

    REAL ESTATE · WI · income $0 · assets $321,568

    Directly controlled by BLUGOLD REAL ESTATE FOUNDATION INC

  • HAYMARKET CONCEPTS LLC

    REAL ESTATE · WI · income $2,658,327 · assets $25,287,141

    Directly controlled by BLUGOLD REAL ESTATE FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
12 March 2024
IRS schema version
2022v5.0
Source object
202411069349301171

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