Skip to content
Nonprofiteer
← PRESBYTERIAN COLLEGE REAL ESTATE FOUNDATION

Form 990 for tax year 2024

Filed by PRESBYTERIAN COLLEGE REAL ESTATE FOUNDATION.

Totals

Total revenue
$2,479,200
Total expenses
$3,139,195
Contributions and grants received
$36,000
Grants paid
$0
Program service revenue
$2,443,200
Investment income
$0
Other revenue
$0
Total assets, end of year
$50,437,406
Total liabilities, end of year
$53,627,833
Net assets or fund balances, end of year
-$3,190,427
Program services expenses (Part IX)
$3,019,839
Management and general expenses
$119,356
Fundraising expenses
$0
Program service expenses (Part III)
$3,019,839

Program services were 96.2% 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.

  • 1d · Related organizations

    $36,000

  • 2a · Program service revenue: LEASE INCOME FROM PC

    total $2,443,200 · related or exempt $2,443,200

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $1,011,379 · program services $918,838 · management and general $92,541

  • 22 · Depreciation, depletion and amortization

    total $2,114,916 · program services $2,101,001 · management and general $13,915

  • 24a · Other expenses: PROJECT MANAGEMENT FEES

    total $12,000 · management and general $12,000

  • 24b · Other expenses: BANK FEES

    total $900 · management and general $900

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $196,208 · end of year $226,009

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

    $87,191,601

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

    $37,082,743

  • 10c · Land, buildings and equipment, net

    beginning of year $52,195,042 · end of year $50,108,858

  • 12 · Investments: other securities

    beginning of year $98,735 · end of year $102,539

  • 23 · Secured mortgages and notes payable

    beginning of year $55,024,221 · end of year $53,627,833

  • 27 · Net assets without donor restrictions

    beginning of year -$2,534,236 · end of year -$3,190,427

Mission and programs · 2024

Mission

TO ASSIST THE COLLEGE IN ITS MODELED GROWTH BY ACQUIRING CERTAIN ASSETS AND OBLIGATIONS OF THE COLLEGE AND EXECUTING A CONSTRUCTION AND RENOVATION PLAN THE COLLEGE DEVELOPED FOR ITS PLANNED GROWTH.

  • PRESBYTERIAN COLLEGE REAL ESTATE FOUNDATION EXISTS TO BENEFIT PRESBYTERIAN COLLEGE, WHICH PROVIDES A LIBERAL ARTS EDUCATION TO APPROXIMATELY 850 FULL-TIME EQUIVALENT UNDERGRADUATE STUDENTS AND 250 GRADUATE STUDENTS.

    Expenses $3,019,839 · Revenue $2,443,200

As filed on the 2024 return.

Listed in Part VII

  • Brad Spearman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Stan Reid

    DIRECTOR (PART YEAR)

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • John Inman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Wes Nalley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • John Jeselnik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Holbrook Raynal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Steve Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 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.

Provenance

Return type
form_990
Tax year
2024
Filed
4 May 2026
IRS schema version
2024v5.5
Source object
202601249349302210

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.