Totals
- Total revenue
- $731,471
- Total expenses
- $972,517
- Contributions and grants received
- $179,500
- Grants paid
- $169,359
- Program service revenue
- $323,554
- Investment income
- $401
- Other revenue
- $228,016
- Total assets, end of year
- $6,596,729
- Total liabilities, end of year
- $10,072,259
- Net assets or fund balances, end of year
- -$3,475,530
- Program services expenses (Part IX)
- $965,132
- Management and general expenses
- $7,385
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $965,132
Program services were 99.2% 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.
-
1f · All other contributions, gifts and grants
$179,500
-
1g · Noncash contributions included above
$179,500
-
2a · Program service revenue: STUDENT HOUSING RENTAL
total $323,554 · related or exempt $323,554
-
3 · Investment income
total $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $26,328
-
6b · Less rental expenses
real property $10,152
-
6c · Rental income or loss
real property $16,176 · personal property $0
-
6d · Net rental income or loss
total $16,176 · excluded $16,176
-
7a · Gross sales of assets other than inventory
other assets $172,191
-
7b · Less cost or other basis and sales expenses
other assets $171,790
-
7c · Gain or loss
other assets $401
-
7d · Net gain or loss
total $401 · excluded $401
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: OTHER INCOME
total $26,236 · related or exempt $26,236
-
11b · Other revenue: INSURANCE PROCEEDS
total $185,604 · related or exempt $185,604
-
11e · Other revenue, total
$211,840
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $169,359 · program services $169,359
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $354,827 · program services $354,827
-
11b · Fees: legal
total $2,591 · management and general $2,591
-
11c · Fees: accounting
total $3,220 · management and general $3,220
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $1,574 · management and general $1,574
-
12 · Advertising and promotion
total $2,000 · program services $2,000
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $80,319 · program services $80,319
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $36,182 · program services $36,182
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $120,361 · program services $120,361
-
23 · Insurance
total $127,975 · program services $127,975
-
24a · Other expenses: REAL ESTATE TAX
total $61,328 · program services $61,328
-
24b · Other expenses: SELLING EXPENSE
total $938 · program services $938
-
24c · Other expenses: OTHER EXPENSE
total $11,843 · program services $11,843
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $608,169 · end of year $65,741
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $3,410 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$7,506,126
-
10b · Land, buildings and equipment: accumulated depreciation
$975,138
-
10c · Land, buildings and equipment, net
beginning of year $6,286,349 · end of year $6,530,988
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $72,371 · end of year $210,374
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $600,000 · end of year $400,000
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $9,460,041 · end of year $9,461,885
-
27 · Net assets without donor restrictions
beginning of year -$3,200,472 · end of year -$3,441,518
-
28 · Net assets with donor restrictions
beginning of year -$34,012 · end of year -$34,012
Mission and programs · 2022
Mission
CARDINAL PROPERTIES, INC. RECEIVES, HOLDS, MANAGES, AND DISPOSES OF REAL ESTATE, INTERESTS IN REAL ESTATE (INCLUDING CONSERVATION EASEMENTS), AND TANGIBLE AND INTANGIBLE PERSONAL PROPERTY FOR THE BENEFIT OF BALL STATE UNIVERSITY FOUNDATION.
Activities or mission (Part I)
CARDINAL PROPERTIES, INC. ACCEPTS AND MANAGES REAL ESTATE, INTERESTS IN REAL ESTATE, AND TANGIBLE AND INTANGIBLE PERSONAL PROPERTY FOR THE BENEFIT OF BSU FOUNDATION.
-
HOLDING AND MANAGING REAL ESTATE PROPERTIES THROUGHOUT THE YEAR USED FOR STUDENT HOUSING BY BALL STATE UNIVERSITY, AS WELL AS HOLDING AND MANAGING OTHER PROPERTIES AND REAL ESTATE ACTIVITIES OF BALL STATE UNIVERSITY FOUNDATION.
Expenses $965,132 · Grants $169,359 · Revenue $535,394
As filed on the 2022 return.
Listed in Part VII
-
Geoffrey S MearnsGEOFFREY S MEARNS
BOARD MEMBER
- Total calculated
- $573,092
- From this org
- $0
- From related orgs
- $514,908
- Other
- $58,184
- Hours/week
- 1 + 54 related
Schedule J breakdown matched by us
- Base
- $0 + $504,585 related
- Bonus
- $0 + $7,500 related
- Other
- $0 + $2,823 related
- Deferred
- $0 + $53,507 related
- Nontaxable benefits
- $0 + $4,677 related
- Filer's total
- $0 + $573,092 related
-
Alan T FinnALAN T FINN
BOARD MEMBER
- Total calculated
- $311,996
- From this org
- $0
- From related orgs
- $281,674
- Other
- $30,322
- Hours/week
- 1 + 54 related
Schedule J breakdown matched by us
- Base
- $0 + $281,674 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $19,881 related
- Nontaxable benefits
- $0 + $10,441 related
- Filer's total
- $0 + $311,996 related
-
Jean Kramer CrosbyJEAN KRAMER CROSBY
BOARD MEMBER
- Total calculated
- $286,231
- From this org
- $0
- From related orgs
- $255,420
- Other
- $30,811
- Hours/week
- 2 + 53 related
Schedule J breakdown matched by us
- Base
- $0 + $255,420 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $26,628 related
- Nontaxable benefits
- $0 + $4,183 related
- Filer's total
- $0 + $286,231 related
-
Donald Ray AllenDONALD RAY ALLEN
BOARD MEMBER
- Total calculated
- $222,276
- From this org
- $0
- From related orgs
- $201,383
- Other
- $20,893
- Hours/week
- 2 + 53 related
Schedule J breakdown matched by us
- Base
- $0 + $199,883 related
- Bonus
- $0 + $1,500 related
- Other
- $0
- Deferred
- $0 + $10,450 related
- Nontaxable benefits
- $0 + $10,443 related
- Filer's total
- $0 + $222,276 related
-
Stephen J WachtmannSTEPHEN J WACHTMANN
SECRETARY/TREASURER
- Total calculated
- $179,747
- From this org
- $0
- From related orgs
- $152,337
- Other
- $27,410
- Hours/week
- 2 + 53 related
Schedule J breakdown matched by us
- Base
- $0 + $152,337 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $16,955 related
- Nontaxable benefits
- $0 + $10,455 related
- Filer's total
- $0 + $179,747 related
-
Randall E PondRANDALL E POND
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Kenneth R BrinerKENNETH R BRINER
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Sundesh ShahSUNDESH SHAH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Charles V SursaCHARLES V SURSA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gregory E ZimmermanGREGORY E ZIMMERMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Michael RayMICHAEL RAY
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1 + 2 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
The filer's explanations (Part III)
- SCHEDULE J, PART I
- PROCESS TO REVIEW COMPENSATION: CARDINAL PROPERTIES DOES NOT HAVE EMPLOYEES. PER THE ADMINISTRATIVE AGREEMENT WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL PROPERTIES IS PROVIDED EMPLOYEES FROM BALL STATE UNIVERSITY FOUNDATION.
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
-
BALL STATE UNIVERSITY FOUNDATION
$169,359
SEE PART IV
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.
-
BALL STATE UNIVERISTY FOUNDATION
501(C)(3) · SUPPORT · IN
Directly controlled by NA
-
501(C)(3) · INVESTMENTS · IN
Directly controlled by BS UNIV FDN
-
BALL STATE UNIVERSITY
115 · EDUCATION · IN
Directly controlled by NA
-
BALL STATE UNIVERSITY ALUMNI ASSOCIATION
501(C)(3) · ALUMNI SPT · IN
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202430909349300423
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