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← INNOVATIVE STUDENT FACILITIES INC

Form 990 for tax year 2024

Filed by INNOVATIVE STUDENT FACILITIES INC.

Totals

Total revenue
$12,076,170
Total expenses
$12,078,295
Contributions and grants received
$237,083
Grants paid
$0
Program service revenue
$11,566,946
Investment income
$270,282
Other revenue
$1,859
Total assets, end of year
$157,106,643
Total liabilities, end of year
$142,772,326
Net assets or fund balances, end of year
$14,334,317
Program services expenses (Part IX)
$12,053,467
Management and general expenses
$24,828
Fundraising expenses
$0
Program service expenses (Part III)
$12,053,467

Program services were 99.8% 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

    $198,496

  • 1f · All other contributions, gifts and grants

    $38,587

  • 2a · Program service revenue: RENTAL INCOME

    total $11,566,946 · related or exempt $11,566,946

  • 3 · Investment income

    total $255,020 · excluded $255,020

  • 4 · Income from investment of tax-exempt bond proceeds

    total $15,262 · excluded $15,262

  • 11a · Other revenue: INSURANCE REIMBURSEMENT

    total $1,859 · related or exempt $1,859

  • 11e · Other revenue, total

    $1,859

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $4,915,074 · program services $4,915,074

  • 22 · Depreciation, depletion and amortization

    total $5,336,507 · program services $5,336,507

  • 24a · Other expenses: MAINTENANCE

    total $1,801,886 · program services $1,801,886

  • 24b · Other expenses: OTHER ADMINISTRATIVE EX

    total $24,828 · management and general $24,828

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,567,936 · end of year $14,256,110

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

    $190,310,621

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

    $47,460,088

  • 10c · Land, buildings and equipment, net

    beginning of year $148,167,521 · end of year $142,850,533

  • 15 · Other assets

    beginning of year $2,445,459

  • 17 · Accounts payable and accrued expenses

    beginning of year $49,111 · end of year $52,875

  • 20 · Tax-exempt bond liabilities

    beginning of year $141,229,439 · end of year $140,529,779

  • 23 · Secured mortgages and notes payable

    beginning of year $1,063,875 · end of year $891,975

  • 25 · Other liabilities

    beginning of year $1,502,049 · end of year $1,297,697

  • 27 · Net assets without donor restrictions

    beginning of year -$769,338 · end of year -$738,528

  • 28 · Net assets with donor restrictions

    beginning of year $15,105,780 · end of year $15,072,845

Mission and programs · 2024

Mission

THE PURPOSE OF INNOVATIVE STUDENT FACILITIES, INC. SHALL BE TO PROMOTE, ASSIST AND BENEFIT THE EDUCATIONAL MISSION OF LOUISIANA TECH UNIVERSITY UNDER THE MANAGEMENT AND CONTROL OF THE BOARD OF SUPERVISORS FOR THE UNIVERSITY OF LOUISIANA SYSTEM. THE IMPLEMENTATION OF THIS MISSION SHALL INCLUDE ANY LAWFUL ACTIVITY DEEMED BY THE CORPORATION NECESSARY OR ADVISABLE IN ORDER TO SUPPORT AND ASSIST THE UNIVERSITY IN CARRYING OUT ITS MISSION AND OBJECTIVES.

  • TO ACQUIRE, CONSTRUCT, DEVELOP, AND MANAGE STUDENT HOUSING & OTHER FACILITIES ON THE CAMPUS OF LOUISIANA TECH UNIVERSITY IN RUSTON, LOUISIANA. INNOVATIVE STUDENT FACILITIES LEASES THE STUDENT HOUSING TO LOUISIANA TECH UNIVERSITY.

    Expenses $12,053,467 · Revenue $11,568,805

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Dickie Crawford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr James King

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ryan Kilpatrick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Will Dearmon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Margaret Davison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Dr Jean Hall

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1

  • Chris Barr

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

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.

  • LOUISIANA TECH UNIVERSITY

    501(C)3 · UNIVERSITY · LA

  • UNIVERSITY OF LOUISIANA SYSTEM

    501(C)3 · UNIVERSITY · LA

  • LOUISIANA TECH UNIVERSITY FOUNDATION

    501(C)3 · UNIVERSITY FOUNDATION · LA

Provenance

Return type
form_990
Tax year
2024
Filed
19 February 2026
IRS schema version
2024v5.5
Source object
202610619349300101

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