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Nonprofiteer
← STUDENT LODGING INC

Form 990 for tax year 2024

Filed by STUDENT LODGING INC.

Totals

Total revenue
$7,819,870
Total expenses
$7,738,963
Contributions and grants received
$0
Grants paid
$333,895
Program service revenue
$7,471,998
Investment income
$247,220
Other revenue
$100,652
Total assets, end of year
$35,942,101
Total liabilities, end of year
$30,518,440
Net assets or fund balances, end of year
$5,423,661
Program services expenses (Part IX)
$6,499,659
Management and general expenses
$1,239,304
Fundraising expenses
$0
Program service expenses (Part III)
$6,499,659

Program services were 84.0% 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.

  • 2a · Program service revenue: APARTMENT RENTALS

    total $7,471,998 · related or exempt $7,471,998

  • 3 · Investment income

    total $247,220 · excluded $247,220

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $88,019 · related or exempt $88,019

  • 11b · Other revenue: WASHER/DRYER COMMISSIO

    total $12,633 · excluded $12,633

  • 11e · Other revenue, total

    $100,652

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $333,895 · program services $333,895

  • 11a · Fees: management

    total $1,173,160 · management and general $1,173,160

  • 11b · Fees: legal

    total $27,984 · management and general $27,984

  • 11c · Fees: accounting

    total $31,030 · management and general $31,030

  • 11g · Fees: other

    total $560,758 · program services $560,758

  • 13 · Office expenses

    total $32,296 · program services $25,166 · management and general $7,130

  • 16 · Occupancy

    total $910,694 · program services $910,694

  • 17 · Travel

    total $2,474 · program services $2,474

  • 20 · Interest

    total $1,267,567 · program services $1,267,567

  • 22 · Depreciation, depletion and amortization

    total $1,767,983 · program services $1,767,983

  • 23 · Insurance

    total $439,574 · program services $439,574

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $610,201 · program services $610,201

  • 24b · Other expenses: STUDENT ORGANIZATION SU

    total $200,000 · program services $200,000

  • 24c · Other expenses: HEALTH INSURANCE

    total $163,267 · program services $163,267

  • 24d · Other expenses: MISCELLANEOUS

    total $100,741 · program services $100,741

  • 24e · All other expenses

    total $117,339 · program services $117,339

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $650 · end of year $650

  • 2 · Savings and temporary cash investments

    beginning of year $6,561,875 · end of year $6,859,992

  • 4 · Accounts receivable

    beginning of year $155,564 · end of year $158,835

  • 7 · Other notes and loans receivable

    beginning of year $502,500 · end of year $472,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $180,128 · end of year $235,721

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

    $58,426,484

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

    $30,649,299

  • 10c · Land, buildings and equipment, net

    beginning of year $29,080,310 · end of year $27,777,185

  • 15 · Other assets

    beginning of year $852,365 · end of year $437,218

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,062,264 · end of year $1,129,737

  • 19 · Deferred revenue

    beginning of year $223,937 · end of year $192,902

  • 20 · Tax-exempt bond liabilities

    beginning of year $29,016,987 · end of year $28,134,216

  • 25 · Other liabilities

    beginning of year $1,023,652 · end of year $1,061,585

  • 27 · Net assets without donor restrictions

    beginning of year $6,006,552 · end of year $5,423,661

Mission and programs · 2024

Mission

TO PROVIDE, OPERATE AND MAINTAIN FACILITIES TO HOUSE STUDENTS AND OTHER WORTHY PERSONS; TO ESTABLISH, PROVIDE, OPERATE AND MAINTAIN SUCH OTHER FACILITIES AND ACTIVITIES AS THE BOARD OF DIRECTORS AND THE CORPORATION DEEM DESIRABLE FOR STUDENT WELFARE; AND ENGAGING IN ANY OTHER ACTIVITIES OR ENTERPRISES WHICH THE BOARD OF DIRECTORS AND THE CORPORATION DEEM DESIRABLE FOR STUDENT WELFARE.

  • STUDENT LODGING, INC. OWNS AND MAINTAINS TWO RESIDENCE HALLS, APARTMENT COMPLEXES, AND OTHER RENTAL UNITS THAT PROVIDE HOUSING FOR WORTHY PERSONS.

    Expenses $6,499,659 · Grants $333,895 · Revenue $7,560,017

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

Listed in Part VII

  • Andrew Olenik

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Sarah Dillon

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Geoffrey Beers

    CHIEF EXECUTIVE OFFICER/VICE CHAIRPERSON

    Total calculated
    $354,685
    From this org
    $0
    From related orgs
    $284,058
    Other
    $70,627
    Hours/week
    17.5 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,649 related
    Bonus
    $0 + $15,409 related
    Other
    $0
    Deferred
    $0 + $50,574 related
    Nontaxable benefits
    $0 + $20,053 related
    Filer's total
    $0 + $354,685 related

  • Stephen Kepchar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Rachel Lamb

    STUDENT REP/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Philip Loht

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Robert J Sempsey

    CORPORATE SECRETARY

    Total calculated
    $323,032
    From this org
    $0
    From related orgs
    $252,435
    Other
    $70,597
    Hours/week
    17.5 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,057 related
    Bonus
    $0 + $13,378 related
    Other
    $0
    Deferred
    $0 + $50,544 related
    Nontaxable benefits
    $0 + $20,053 related
    Filer's total
    $0 + $323,032 related

  • Andrew Kehl

    CHIEF FINANCIAL OFFICER

    Total calculated
    $260,668
    From this org
    $0
    From related orgs
    $193,374
    Other
    $67,294
    Hours/week
    17.5 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,430 related
    Bonus
    $0 + $26,944 related
    Other
    $0
    Deferred
    $0 + $47,241 related
    Nontaxable benefits
    $0 + $20,053 related
    Filer's total
    $0 + $260,668 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 3
IRONSTONE TOTAL BUSINESS SUPPORT, A RELATED ORGANIZATION, USES THE FORM 990S OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACTS, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION.
PART I, LINE 4B
GEOFFREY BEERS, CEO, PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN THROUGH IRONSTONE TOTAL BUSINESS SUPPORT, A RELATED ENTITY. CONTRIBUTIONS TO THE PLAN FOR THE CALENDAR YEAR 2024 WERE $19,317. ROBERT SEMPSEY, CBO, PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN THROUGH IRONSTONE TOTAL BUSINESS SUPPORT, A RELATED ENTITY. CONTRIBUTIONS TO THE PLAN FOR THE CALENDAR YEAR 2024 WERE $13,499.

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
2024
Filed
22 December 2025
IRS schema version
2024v5.2
Source object
202513579349300931

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