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Nonprofiteer
← AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC

Form 990 for tax year 2022

Filed by AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC.

Totals

Total revenue
$4,361,188
Total expenses
$1,423,467
Contributions and grants received
$4,285,975
Grants paid
$1,155,204
Program service revenue
$0
Investment income
$13,116
Other revenue
$62,097
Total assets, end of year
$21,647,679
Total liabilities, end of year
$1,518,623
Net assets or fund balances, end of year
$20,129,056
Program services expenses (Part IX)
$1,191,581
Management and general expenses
$196,512
Fundraising expenses
$35,374
Program service expenses (Part III)
$1,191,581

Program services were 83.7% 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

    $460,300

  • 1f · All other contributions, gifts and grants

    $3,825,675

  • 1g · Noncash contributions included above

    $3,886,300

  • 3 · Investment income

    total $86,051 · excluded $86,051

  • 6a · Gross rents

    real property $29,869

  • 6b · Less rental expenses

    real property $30,532

  • 6c · Rental income or loss

    real property -$663

  • 6d · Net rental income or loss

    total -$663 · excluded -$663

  • 7a · Gross sales of assets other than inventory

    other assets $935,100

  • 7b · Less cost or other basis and sales expenses

    other assets $1,008,035

  • 7c · Gain or loss

    other assets -$72,935

  • 7d · Net gain or loss

    total -$72,935 · excluded -$72,935

  • 11a · Other revenue: PROJECT MANAGEMENT FEE

    total $50,000 · excluded $50,000

  • 11b · Other revenue: OTHER ACTIVITY RELATED

    total $12,760 · excluded $12,760

  • 11e · Other revenue, total

    $62,760

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,155,204 · program services $1,155,204

  • 5 · Compensation of officers, directors and key employees

    total $114,127 · management and general $78,753 · fundraising $35,374

  • 11a · Fees: management

    total $37,095 · management and general $37,095

  • 11b · Fees: legal

    total $7,001 · program services $2,989 · management and general $4,012

  • 11c · Fees: accounting

    total $9,625 · management and general $9,625

  • 18 · Travel or entertainment for public officials

    total $7,970 · program services $1,709 · management and general $6,261

  • 23 · Insurance

    total $15,230 · program services $5,813 · management and general $9,417

  • 24a · Other expenses: ADMINISTRATIVE COSTS

    total $61,076 · program services $9,727 · management and general $51,349

  • 24b · Other expenses: REPAIR AND MAINTENANCE

    total $16,139 · program services $16,139

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $851,432 · end of year $605,017

  • 4 · Accounts receivable

    end of year $50,000

  • 7 · Other notes and loans receivable

    beginning of year $3,207,948 · end of year $3,317,419

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

    $160,652

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

    $7,174

  • 10c · Land, buildings and equipment, net

    beginning of year $76,219 · end of year $153,478

  • 15 · Other assets

    beginning of year $15,817,952 · end of year $17,521,765

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,930 · end of year $2,606

  • 19 · Deferred revenue

    beginning of year $1,623,323 · end of year $1,507,898

  • 25 · Other liabilities

    beginning of year $45,197 · end of year $8,119

  • 27 · Net assets without donor restrictions

    beginning of year $5,716,188 · end of year $5,820,706

  • 28 · Net assets with donor restrictions

    beginning of year $12,552,913 · end of year $14,308,350

Mission and programs · 2022

Mission

THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT OF AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION.

  • ADMINISTRATION AND SALE OF REAL PROPERTY AND SUBSEQUENT TRANSFER OF NET PROCEEDS TO AUBURN UNIVERSITY TO BE USED FOR CAPITAL ASSETS FOR THE UNIVERSITY AND FOR THE COLLEGE OF FORESTRY, WILDLIFE AND ENVIRONMENT, AND ACADEMIC PURPOSES FOR THE COLLEGE OF ARCHITECTURE, DESIGN, AND CONSTRUCTION.

    Expenses $619,305 · Grants $619,305

  • ADMINISTRATION AND SALE OF REAL PROPERTY AND SUBSEQUENT TRANSFER OF NET PROCEEDS TO AUBURN UNIVERSITY FOUNDATION FOR A COLLEGE OF VETERINARY MEDICINE NAMED ENDOWED SCHOLARSHIP FUND.

    Expenses $535,899 · Grants $535,899

  • EXPENSES INCURRED TO MANAGE AND MAINTAIN REAL PROPERTY IN ACCORDANCE WITH THE MISSION OF THE ORGANIZATION.

    Expenses $36,377

As filed on the 2022 return.

Listed in Part VII

  • STEVE CATES

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 2.46 related

  • PATRICK HENRY

    VICE CHAIR AND TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 1.46 related

  • BENNY LARUSSA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DAVID WELCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • GREG WINCHESTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1.46 related

  • JOHN THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RANDY CAMPBELL

    DIRECTOR THROUGH DEC 31, 2022

    Total calculated
    $0
    Hours/week
    0.5

  • STEVEN R SPENCER

    DIRECTOR THROUGH DEC 31, 2022

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN MORRIS

    PRESIDENT THROUGH AUG 1, 2023

    Total calculated
    $489,213
    From this org
    $381,318
    From related orgs
    $62,591
    Other
    $45,304
    Hours/week
    1 + 5.64 related

    Schedule J breakdown matched by us

    Base
    $381,318 + $62,591 related
    Bonus
    $0
    Other
    $0
    Deferred
    $30,385 + $4,987 related
    Nontaxable benefits
    $8,724 + $1,432 related
    Filer's total
    $420,427 + $69,010 related

  • ROB WELLBAUM

    PRESIDENT

    Total calculated
    $346,483
    From this org
    $224,833
    From related orgs
    $72,369
    Other
    $49,281
    Hours/week
    0 + 9.74 related

    Schedule J breakdown matched by us

    Base
    $224,833 + $72,369 related
    Bonus
    $0
    Other
    $0
    Deferred
    $29,768 + $9,581 related
    Nontaxable benefits
    $7,683 + $2,473 related
    Filer's total
    $262,284 + $84,423 related

  • ERIN LEWIS

    CHIEF OPERATIONS OFFICER

    Total calculated
    $321,677
    From this org
    $218,895
    From related orgs
    $64,098
    Other
    $38,684
    Hours/week
    0 + 9.06 related

    Schedule J breakdown matched by us

    Base
    $218,895 + $64,098 related
    Bonus
    $0
    Other
    $0
    Deferred
    $22,880 + $6,700 related
    Nontaxable benefits
    $7,074 + $2,072 related
    Filer's total
    $248,849 + $72,870 related

  • ANGIE STEPHENS

    VICE PRESIDENT

    Total calculated
    $264,573
    From this org
    $197,122
    From related orgs
    $26,880
    Other
    $40,571
    Hours/week
    8 + 4.8 related

    Schedule J breakdown matched by us

    Base
    $197,122 + $26,880 related
    Bonus
    $0
    Other
    $0
    Deferred
    $26,962 + $3,677 related
    Nontaxable benefits
    $8,937 + $1,219 related
    Filer's total
    $233,021 + $31,776 related

  • TIMOTHY JONES

    INFORMATION SECURITY OFFICER

    Total calculated
    $139,401
    From this org
    $93,995
    From related orgs
    $18,749
    Other
    $26,657
    Hours/week
    0.5 + 8.8 related

  • WILLIAM B HUGHES

    CHIEF FINANCIAL OFFICER

    Total calculated
    $159,658
    From this org
    $54,238
    From related orgs
    $77,727
    Other
    $27,693
    Hours/week
    4 + 23.56 related

    Schedule J breakdown matched by us

    Base
    $54,238 + $77,727 related
    Bonus
    $0
    Other
    $0
    Deferred
    $7,300 + $10,461 related
    Nontaxable benefits
    $4,174 + $5,982 related
    Filer's total
    $65,712 + $94,170 related

  • LAUREL HENDRIX

    ASSISTANT SECRETARY

    Total calculated
    $93,891
    From this org
    $34,138
    From related orgs
    $43,803
    Other
    $15,950
    Hours/week
    1.5 + 22.48 related

  • CAROLYN BURROUGHS

    ASSISTANT TREASURER

    Total calculated
    $82,937
    From this org
    $29,057
    From related orgs
    $35,443
    Other
    $18,437
    Hours/week
    4 + 21.98 related

  • WANDA SPEROW

    SECRETARY

    Total calculated
    $113,888
    From this org
    $8,813
    From related orgs
    $82,511
    Other
    $22,564
    Hours/week
    1 + 36.14 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.

Provenance

Return type
form_990
Tax year
2022
Filed
26 April 2024
IRS schema version
2022v5.0
Source object
202401289349300025

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