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Nonprofiteer
← RAGIN CAJUN FACILITIES INC

Form 990 for tax year 2022

Filed by RAGIN CAJUN FACILITIES INC.

Totals

Total revenue
$22,381,265
Total expenses
$23,858,114
Contributions and grants received
$6,179,571
Grants paid
$51,416
Program service revenue
$15,956,848
Investment income
$244,846
Other revenue
$0
Total assets, end of year
$255,803,741
Total liabilities, end of year
$246,469,579
Net assets or fund balances, end of year
$9,334,162
Program services expenses (Part IX)
$23,858,114
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$23,858,114

Program services were 100.0% 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.

  • 1d · Related organizations

    $2,596,820

  • 1e · Government grants (contributions)

    $80,890

  • 1f · All other contributions, gifts and grants

    $3,501,861

  • 2a · Program service revenue: RENTAL INCOME - STUDENT HOUSING

    total $15,956,848 · related or exempt $15,956,848

  • 3 · Investment income

    total $244,846 · excluded $244,846

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $51,416 · program services $51,416

  • 11b · Fees: legal

    total $6,969 · program services $6,969

  • 20 · Interest

    total $9,280,747 · program services $9,280,747

  • 22 · Depreciation, depletion and amortization

    total $13,249,621 · program services $13,249,621

  • 23 · Insurance

    total $38,978 · program services $38,978

  • 24a · Other expenses: REPAIRS, MAINTENANCE

    total $1,230,383 · program services $1,230,383

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,074,380 · end of year $5,651,498

  • 2 · Savings and temporary cash investments

    beginning of year $5,087,262 · end of year $6,335,679

  • 4 · Accounts receivable

    beginning of year $2,481 · end of year $24,639

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

    $351,136,671

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

    $110,965,467

  • 10c · Land, buildings and equipment, net

    beginning of year $252,975,736 · end of year $240,171,204

  • 15 · Other assets

    beginning of year $410,881 · end of year $3,620,721

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,151,241 · end of year $4,448,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $249,041,178 · end of year $241,424,625

  • 24 · Unsecured notes and loans payable

    beginning of year $487,310 · end of year $345,116

  • 25 · Other liabilities

    beginning of year $60,000 · end of year $251,838

  • 27 · Net assets without donor restrictions

    beginning of year $2,179,886 · end of year -$1,031,602

  • 28 · Net assets with donor restrictions

    beginning of year $8,631,125 · end of year $10,365,764

Mission and programs · 2022

Mission

TO PROMOTE, ASSIST AND BENEFIT THE MISSION OF THE UNIVERSITY OF LOUISIANA AT LAFAYETTE BY ENGAGING IN ANY LAWFUL ACTIVITY IN WHICH A NONPROFIT CORPORATION MEETING THE REQUIREMENTS OF SECTION 501(C)(3) OF THE IRS CODE MAY PARTICIPATE.

Activities or mission (Part I)

PROMOTE, ASSIST, AND BENEFIT THE EDUCATIONAL MISSION OF UNIVERSITY OF LOUISIANA AT LAFAYETTE

  • PROVIDED STUDENT HOUSING FOR THE UNIVERSITY OF LOUISIANA AT LAFAYETTE - 468 BED APARTMENT COMPLEX; CONSTRUCTION WAS COMPLETED ON THE SECOND PHASE OF THE LEGACY PARK APARTMENT COMPLEX AND ADDITIONAL UNITS WERE ADDED IN JULY, 2010. DURING FISCAL YEAR ENDED JUNE 30, 2012 CONSTRUCTION WAS COMPLETED ON TWO NEW RESIDENCE HALLS AND A PARKING GARAGE WHICH WERE PLACED IN SERVICE. BY JUNE 30, 2014 AN ADDITIONAL TWO NEW RESIDENCE HALLS WERE COMPLETED ALONG WITH RENOVATIONS TO FOUR RESIDENCE HALLS AND CONSTRUCTION OF A SIX LEVEL PARKING GARAGE. IN THE FISCAL YEAR ENDED JUNE 30, 2015 IMPROVEMENTS TO CAJUN FIELD STADIUM WERE COMPLETED IN OCTOBER, 2014, AND THE NEW STUDENT UNION OPENED IN JANUARY, 2015. IN SEPTEMBER, 2015 THE TRACK AND SOCCER FACILITIES AND THE ATHLETIC PRACTICE FACILITY WERE COMPLETED. IMPROVEMENTS TO THE UNIVERSITY'S CAJUNDOME FACILITY WERE BEGUN IN THE FISCAL YEAR ENDED 6/30/16. IN FISCAL YEAR ENDED 06/30/18, CONSTRUCTION OF A NEW BASEBALL STADIUM BEGAN AS WELL AS CONSTRUCTION OF A NEW STUDENT HOUSING AND PARKING PROJECT LOCATED AT THE CORNER OF JOHNSTON ST AND LEWIS ST IN LAFAYETTE, LA. THE BASEBALL STADIUM PROJECT WAS COMPLETED IN 2018 AND THE STUDENT HOUSING AND PARKING PROJECT WAS OFFICIALLY COMPLETED IN 2020. IMPROVEMENTS TO THE UNIVERSITY'S CAJUNDOME FACILITY WERE ALSO MADE DURING 2020,2021 AND 2022.

    Expenses $23,858,114 · Grants $51,416 · Revenue $15,956,848

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Fontenot

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Hebert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jerry Luke Leblanc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wayne Domingue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

  • UNIVERSITY OF LOUISIANA AT LAFAYETTE

    $51,416

    FOR CONSTRUCTION COSTS FOR ONE OF THE UNIVERSITY'S PROJECTS

Provenance

Return type
form_990
Tax year
2022
Filed
18 December 2023
IRS schema version
2022v5.0
Source object
202303529349300465

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