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Nonprofiteer
← SRUF CAMPUS HOUSING INC

Form 990 for tax year 2023

Filed by SRUF CAMPUS HOUSING INC.

Totals

Total revenue
$16,323,389
Total expenses
$14,584,484
Contributions and grants received
$0
Grants paid
$705,000
Program service revenue
$15,603,573
Investment income
$719,816
Other revenue
$0
Total assets, end of year
$96,236,024
Total liabilities, end of year
$100,009,503
Net assets or fund balances, end of year
-$3,773,479
Program services expenses (Part IX)
$14,501,084
Management and general expenses
$83,400
Fundraising expenses
$0
Program service expenses (Part III)
$14,501,084

Program services were 99.4% 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: STUDENT HOUSING PROJEC

    total $15,603,573 · related or exempt $15,603,573

  • 3 · Investment income

    total $484,339 · excluded $484,339

  • 7a · Gross sales of assets other than inventory

    securities $7,448,000

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

    securities $7,212,523

  • 7c · Gain or loss

    securities $235,477

  • 7d · Net gain or loss

    total $235,477 · excluded $235,477

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $705,000 · program services $705,000

  • 7 · Other salaries and wages

    total $1,408,862 · program services $1,408,862

  • 11a · Fees: management

    total $544,238 · program services $544,238

  • 11g · Fees: other

    total $56,732 · program services $27,232 · management and general $29,500

  • 16 · Occupancy

    total $271,074 · program services $271,074

  • 20 · Interest

    total $3,260,325 · program services $3,260,325

  • 22 · Depreciation, depletion and amortization

    total $3,650,039 · program services $3,650,039

  • 23 · Insurance

    total $395,461 · program services $395,461

  • 24a · Other expenses: UTILITIES

    total $1,837,284 · program services $1,837,284

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $1,834,391 · program services $1,834,391

  • 24c · Other expenses: CONTRACTED SERVICES

    total $462,142 · program services $462,142

  • 24d · Other expenses: ADMINISTRATIVE EXPENSE

    total $158,936 · program services $105,036 · management and general $53,900

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,622,703 · end of year $1,998,675

  • 2 · Savings and temporary cash investments

    beginning of year $1,822,753 · end of year $2,978,366

  • 4 · Accounts receivable

    beginning of year $4,232 · end of year $2,975

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

    $110,173,920

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

    $33,848,756

  • 10c · Land, buildings and equipment, net

    beginning of year $79,975,202 · end of year $76,325,164

  • 13 · Investments: program-related

    beginning of year $13,755,300 · end of year $14,049,391

  • 15 · Other assets

    beginning of year $916,528 · end of year $881,453

  • 17 · Accounts payable and accrued expenses

    beginning of year $163,812 · end of year $134,418

  • 23 · Secured mortgages and notes payable

    beginning of year $101,670,998 · end of year $97,690,675

  • 25 · Other liabilities

    beginning of year $1,824,709 · end of year $2,184,410

  • 27 · Net assets without donor restrictions

    beginning of year -$5,562,801 · end of year -$3,773,479

Mission and programs · 2023

Mission

SRUF CAMPUS HOUSING INC. WAS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL, COMMUNITY AND GENERAL CHARITABLE PURPOSES, INCLUDING SUCH PURPOSES AS TO PROVIDE ON-CAMPUS HOUSING AT SLIPPERY ROCK UNIVERSITY OF PENNSYLVANIA AND FOR MAKING CONTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS TAX EXEMPT ORGANIZATIONS.

Activities or mission (Part I)

SRUF CAMPUS HOUSING INC. WAS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL, COMMUNITY AND GENERAL CHARITABLE PURPOSES, INCLUDING SUCH PURPOSES AS TO PROVIDE ON-CAMPUS HOUSING AT SLIPPERY ROCK UNIVERSITY OF PENNSYLVANIA AND FOR MAKING CONTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS.

  • PROVIDE HOUSING FOR ENROLLED STUDENTS.

    Expenses $14,501,084 · Grants $705,000 · Revenue $15,603,573

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Harper

    VICE CHAIRMAN (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Terry Shulsky

    TREASURER (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Harry Bertrand

    CHAIRMAN (THRU 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Douglas McMullen

    VICE CHAIRMAN (THRU 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Mark Palmer

    CHAIRMAN (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Julie Prebula

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Walters

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • David Hollenbaugh

    EXECUTIVE DIRECTOR

    Total calculated
    $185,402
    From this org
    $0
    From related orgs
    $172,721
    Other
    $12,681
    Hours/week
    2 + 35.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,721 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,363 related
    Nontaxable benefits
    $0 + $2,318 related
    Filer's total
    $0 + $185,402 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 III, PAGE #3
COMPENSATION PAID BY A RELATED ORGANIZATION, TO THE EXECUTIVE DIRECTOR LISTED IN PART II OF SCHEDULE J, WAS BASED ON THE APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE OF THAT RELATED PARTY.

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.

  • SRUF STUDENT HOUSING LLC

    PROVIDE HOUSING FOR ENROLLED STUDENTS · PA · income $15,603,573 · assets $96,171,459

    Directly controlled by SRUF CAMPUS HOUSING INC

Provenance

Return type
form_990
Tax year
2023
Filed
25 November 2024
IRS schema version
2023v5.1
Source object
202423349349300802

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