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Nonprofiteer
← L S U PROPERTY FOUNDATION

Form 990 for tax year 2022

Filed by L S U PROPERTY FOUNDATION.

Totals

Total revenue
$5,193,162
Total expenses
$5,761,683
Contributions and grants received
$2,199,563
Grants paid
$649,399
Program service revenue
$0
Investment income
$22,136
Other revenue
$2,971,463
Total assets, end of year
$13,457,973
Total liabilities, end of year
$3,509,621
Net assets or fund balances, end of year
$9,948,352
Program services expenses (Part IX)
$5,193,439
Management and general expenses
$353,874
Fundraising expenses
$214,370
Program service expenses (Part III)
$5,193,439

Program services were 90.1% 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.

  • 1f · All other contributions, gifts and grants

    $2,199,563

  • 3 · Investment income

    total $22,136 · excluded $22,136

  • 6a · Gross rents

    real property $2,971,463

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,971,463

  • 6d · Net rental income or loss

    total $2,971,463 · excluded $2,971,463

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $649,399 · program services $649,399

  • 11a · Fees: management

    total $481 · program services $481

  • 16 · Occupancy

    total $5,000 · management and general $3,035 · fundraising $1,965

  • 20 · Interest

    total $121,976 · program services $94,426 · management and general $27,550

  • 21 · Payments to affiliates

    total $4,148,761 · program services $4,148,761

  • 22 · Depreciation, depletion and amortization

    total $660,991 · program services $120,382 · management and general $328,204 · fundraising $212,405

  • 24a · Other expenses: OTHER OPERATING SERVICE

    total $175,075 · program services $179,990 · management and general -$4,915

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $576,824 · end of year $718,116

  • 4 · Accounts receivable

    beginning of year $114,218 · end of year $43,723

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

    $16,270,044

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

    $4,192,210

  • 10c · Land, buildings and equipment, net

    beginning of year $12,766,854 · end of year $12,077,834

  • 15 · Other assets

    beginning of year $405,865 · end of year $618,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $422,187 · end of year $639,083

  • 23 · Secured mortgages and notes payable

    beginning of year $2,854,924 · end of year $2,729,086

  • 25 · Other liabilities

    beginning of year $69,777 · end of year $141,452

  • 27 · Net assets without donor restrictions

    beginning of year $10,488,845 · end of year $9,948,352

  • 28 · Net assets with donor restrictions

    beginning of year $28,028 · end of year $0

Mission and programs · 2022

Mission

THE MISSION OF THE LSU PROPERTY FOUNDATION IS TO FOSTER PRIVATE FINANCIAL SUPPORT VIA GIFTS OF REAL ESTATE AND MOVEABLE PROPERTY, AS WELL AS, FACILITATE PROJECTS ON BEHALF OF LSU AND THE LSU AGRICULTURAL CENTER.

Activities or mission (Part I)

FOSTER PRIVATE FINANCIAL SUPPORT VIA GIFTS OF REAL ESTATE AND EQUIPMENT FOR LSU AND THE LSU AGRICULTURAL CENTER.

  • OPERATION OF STUDENT-CENTRIC RETAIL FOR THE NICHOLSON GATEWAY PROJECT, WHICH PROVIDES HOUSING FOR UPPER-CLASS GRADUATE STUDENTS.

    Expenses $5,193,439 · Grants $649,399

As filed on the 2022 return.

Listed in Part VII

  • Frank Billy W Harrison III

    DIRECTOR; CHAIRPERSON 2022

    Total calculated
    $0
    Hours/week
    0.05 + 1.5 related

  • Clarence Cazalot

    DIRECTOR 2022

    Total calculated
    $0
    Hours/week
    0.05 + 1 related

  • Laura Dauzat

    DIRECTOR 2022

    Total calculated
    $0
    Hours/week
    0.05 + 1 related

  • Roger Jenkins

    DIRECTOR; CHAIRPERSON 2023

    Total calculated
    $0
    Hours/week
    0.05 + 4 related

  • Beau Fournet

    DIRECTOR 2023

    Total calculated
    $0
    Hours/week
    0.05 + 1.5 related

  • Wayne Brown

    DIRECTOR 2022

    Total calculated
    $0
    Hours/week
    0.05 + 1 related

  • Laurie Aronson

    DIRECTOR 2023

    Total calculated
    $0
    Hours/week
    0.05 + 1 related

  • Lori Garrison

    DIRECTOR 2023

    Total calculated
    $0
    Hours/week
    0.05 + 1.5 related

  • Jyric Sims

    DIRECTOR 2023

    Total calculated
    $0
    Hours/week
    0.05 + 1 related

  • Elizabeth Ronn

    DIRECTOR 2023

    Total calculated
    $0
    Hours/week
    0.05 + 1.5 related

  • Robert M Stuart Jr

    PRESIDENT & CEO

    Total calculated
    $413,290
    From this org
    $0
    From related orgs
    $393,865
    Other
    $19,425
    Hours/week
    0.05 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $366,465 related
    Bonus
    $0 + $25,000 related
    Other
    $0 + $2,400 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $1,125 related
    Filer's total
    $0 + $413,290 related

  • Kate Spikes

    TREASURER

    Total calculated
    $260,958
    From this org
    $0
    From related orgs
    $229,489
    Other
    $31,469
    Hours/week
    0.05 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,289 related
    Bonus
    $0
    Other
    $0 + $1,200 related
    Deferred
    $0 + $14,287 related
    Nontaxable benefits
    $0 + $17,182 related
    Filer's total
    $0 + $260,958 related

  • Leu Anne Greco

    SECRETARY

    Total calculated
    $205,005
    From this org
    $0
    From related orgs
    $187,769
    Other
    $17,236
    Hours/week
    0.05 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $186,569 related
    Bonus
    $0
    Other
    $0 + $1,200 related
    Deferred
    $0 + $11,759 related
    Nontaxable benefits
    $0 + $5,477 related
    Filer's total
    $0 + $205,005 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

None.

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

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.

  • LSU MUSEUM LLC

    INVESTMENT IN SHAW CENTER FOR THE ARTS, LLC · LA · income $0 · assets $0

  • FOUNDATION OFFICE BUILDING LLC

    CONSTRUCTION OF OFFICE BUILDING FOR LSU FOUNDATION · LA · income $61,223 · assets $9,868,275

  • NICHOLSON GATEWAY PROJECT LLC

    DEVELOPMENT OF NICHOLSON GATEWAY PROJECT · LA · income $2,993,635 · assets $3,224,512

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421359349303012

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