Form 990 for tax year 2023
Filed by CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION INC.
Totals
- Total revenue
- $3,844,351
- Total expenses
- $4,063,459
- Contributions and grants received
- $0
- Grants paid
- $3,297,751
- Program service revenue
- $0
- Investment income
- $34,626
- Other revenue
- $3,809,725
- Total assets, end of year
- $121,335,730
- Total liabilities, end of year
- $110,781,762
- Net assets or fund balances, end of year
- $10,553,968
- Program services expenses (Part IX)
- $3,297,751
- Management and general expenses
- $765,708
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,297,751
Program services were 81.2% 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.
-
3 · Investment income
total $34,626 · excluded $34,626
-
6a · Gross rents
real property $13,545,782
-
6b · Less rental expenses
real property $9,736,057
-
6c · Rental income or loss
real property $3,809,725
-
6d · Net rental income or loss
total $3,809,725 · related or exempt $3,568,491 · unrelated business $241,234
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,297,751 · program services $3,297,751
-
5 · Compensation of officers, directors and key employees
total $526,905 · management and general $526,905
-
11a · Fees: management
total $114,604 · management and general $114,604
-
11b · Fees: legal
total $125 · management and general $125
-
11c · Fees: accounting
total $22,250 · management and general $22,250
-
13 · Office expenses
total $26,080 · management and general $26,080
-
19 · Conferences, conventions and meetings
total $4,087 · management and general $4,087
-
24a · Other expenses: UNRELATED BUSINESS INCO
total $68,000 · management and general $68,000
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $3,657 · management and general $3,657
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,955,880 · end of year $1,521,873
-
2 · Savings and temporary cash investments
beginning of year $1,004,309 · end of year $1,038,935
-
3 · Pledges and grants receivable
beginning of year $940,000 · end of year $400,000
-
4 · Accounts receivable
beginning of year $825,808 · end of year $1,003,884
-
9 · Prepaid expenses and deferred charges
beginning of year $359
-
10a · Land, buildings and equipment: cost or other basis
$164,258,934
-
10b · Land, buildings and equipment: accumulated depreciation
$49,933,325
-
10c · Land, buildings and equipment, net
beginning of year $113,412,031 · end of year $114,325,609
-
15 · Other assets
beginning of year $3,004,346 · end of year $3,045,429
-
17 · Accounts payable and accrued expenses
beginning of year $2,022,614 · end of year $236,668
-
20 · Tax-exempt bond liabilities
beginning of year $68,626,760 · end of year $64,386,665
-
23 · Secured mortgages and notes payable
beginning of year $40,768,675 · end of year $46,065,160
-
25 · Other liabilities
beginning of year $162,308 · end of year $93,269
-
27 · Net assets without donor restrictions
beginning of year $10,562,376 · end of year $10,553,968
Mission and programs · 2023
Mission
TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE CHRISTOPHER NEWPORT UNIVERSITY.
-
CHRISTOPHER NEWPORT UNIVERSITY - EDUCATIONAL EXPENSES GIVEN AS DIRECT SUPPORT TO CHRISTOPHER NEWPORT UNIVERSITY.
Expenses $3,297,751 · Grants $3,297,751 · Revenue $3,568,491
As filed on the 2023 return.
Listed in Part VII
-
William KellyWILLIAM KELLY
BOARD MEMBER
- Total calculated
- $224,448
- From this org
- $0
- From related orgs
- $211,882
- Other
- $12,566
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $211,882 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $40 related
- Nontaxable benefits
- $0 + $12,526 related
- Filer's total
- $0 + $224,448 related
-
Adelia P ThompsonADELIA P THOMPSON
BOARD MEMBER
- Total calculated
- $438,503
- From this org
- $0
- From related orgs
- $413,598
- Other
- $24,905
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $413,598 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $480 related
- Nontaxable benefits
- $0 + $24,425 related
- Filer's total
- $0 + $438,503 related
-
Jennifer LatourJENNIFER LATOUR
SECRETARY
- Total calculated
- $284,530
- From this org
- $0
- From related orgs
- $251,636
- Other
- $32,894
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $251,636 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $480 related
- Nontaxable benefits
- $0 + $32,414 related
- Filer's total
- $0 + $284,530 related
-
C Brad HunterC BRAD HUNTER
BOARD
- Total calculated
- $0
- Hours/week
- 1 + 30 related
-
Alan WittALAN WITT
BOARD MEMBER
- Total calculated
- $247,879
- From this org
- $0
- From related orgs
- $226,419
- Other
- $21,460
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $226,419 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $240 related
- Nontaxable benefits
- $0 + $21,220 related
- Filer's total
- $0 + $247,879 related
-
Ann HunnicutANN HUNNICUT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Randolph P BryantRANDOLPH P BRYANT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Michael C MartinMICHAEL C MARTIN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 10
-
William P Heath JrWILLIAM P HEATH JR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
William L BrauerWILLIAM L BRAUER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lindsey Carney SmithLINDSEY CARNEY SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
W Bruce JenningsW BRUCE JENNINGS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
M Clark BaldwinM CLARK BALDWIN
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Steven A MeadeSTEVEN A MEADE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Charles WornomCHARLES WORNOM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
C Larry PopeC LARRY POPE
BOARD OF VISITORS APPOINTEE
- Total calculated
- $0
- Hours/week
- 1
-
K Spencer McDonaldK SPENCER MCDONALD
CFO & TREASURER
- Total calculated
- $161,620
- From this org
- $0
- From related orgs
- $147,900
- Other
- $13,720
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $147,900 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $480 related
- Nontaxable benefits
- $0 + $13,240 related
- Filer's total
- $0 + $161,620 related
-
Douglas L HornsbyDOUGLAS L HORNSBY
CHIEF EXECUTIVE OFFICER
- Total calculated
- $262,714
- From this org
- $0
- From related orgs
- $238,799
- Other
- $23,915
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $238,799 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $480 related
- Nontaxable benefits
- $0 + $23,435 related
- Filer's total
- $0 + $262,714 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
CHRISTOPHER NEWPORT UNIVERSITY
$3,297,751
EDUCATIONAL
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.
-
CHRISTOPHER NEWPORT UNIVERSITY
170(B)(1)(A)(IV) · EDUCATION · VA
-
CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION
501(C)(3) · SUPPORT OF UNIVERSITY · VA
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.
-
RAPPAHANNOCK HALL AT CHRISTOPHER NEWPORT UNIVERSITY LLC
REAL ESTATE HOLDING COMPANY · VA · income $3,863,773 · assets $29,026,070
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU VILLAGE LAND LLC
REAL ESTATE HOLDING COMPANY · VA · income $5,285,707 · assets $16,133,102
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU BARCLAY TWO LLC
REAL ESTATE HOLDING COMPANY · VA · income $586,186 · assets $13,296,593
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU HIDENWOOD SHOPPING CENTER LLC
REAL ESTATE HOLDING COMPANY · VA · income $976,355 · assets $9,624,720
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU OFFICE PARK LLC
REAL ESTATE HOLDING COMPANY · VA · income $1,322,069 · assets $6,633,562
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU UNIVERSITY APARTMENTS LLC
REAL ESTATE HOLDING COMPANY · VA · income $4,154,508 · assets $4,103,796
Directly controlled by CNU REAL ESTATE FOUNDATION
-
UNIVERSITY PLACE RETAIL LLC
REAL ESTATE HOLDING COMPANY · VA · income $79,288 · assets $2,956,593
Directly controlled by CNU REAL ESTATE FOUNDATION
-
MARINER EAST LLC
REAL ESTATE HOLDING COMPANY · VA · income -$374,776 · assets $2,501,626
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU SOC LLC
REAL ESTATE HOLDING COMPANY · VA · income -$10,040 · assets $901,070
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU SPCOM LLC
REAL ESTATE HOLDING COMPANY · VA · assets $797,648
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU PROPERTIES LLC
REAL ESTATE HOLDING COMPANY · VA · income $610,092 · assets $745,961
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU 12396 WARWICK LLC
REAL ESTATE HOLDING COMPANY · VA · income -$113,934 · assets $594,625
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU VILLAGE RETAIL LLC
REAL ESTATE HOLDING COMPANY · VA · assets $205,166
Directly controlled by CNU REAL ESTATE FOUNDATION
-
WARWICK PROPERTIES EAST LLC
REAL ESTATE HOLDING COMPANY · VA · income -$10 · assets $216,895
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU OFFICE PARK GUARANTOR LLC
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU RAPPAHANNOCK CONDOMINIUM OWNERS ASSOCIATION
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU HIDEN HUSSEY LLC
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU COMMERCIAL LLC
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU VILLAGE LLC
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU WARWICK TWO LLC
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
-
CNU 12340 WARWICK LLC
REAL ESTATE HOLDING COMPANY · VA
Directly controlled by CNU REAL ESTATE FOUNDATION
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CNU RAPPAHANNOCK CONDOMINIUM ASSOCIATION
C · CONDOMINIUM ASSOCIATION · VA · 100% owned
-
CNU VILLAGE CONDOMINIUM UNIT OWNERS' ASSOCIATION INC
C · CONDOMINIUM ASSOCIATION · VA · 100% owned
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 17 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202432919349301308
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