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Nonprofiteer
← OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION

Form 990 for tax year 2022

Filed by OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION.

Totals

Total revenue
$4,230,568
Total expenses
$3,662,443
Contributions and grants received
$242,033
Grants paid
$201,752
Program service revenue
$0
Investment income
$3,646,318
Other revenue
$342,217
Total assets, end of year
$77,759,835
Total liabilities, end of year
$52,540,868
Net assets or fund balances, end of year
$25,218,967
Program services expenses (Part IX)
$3,483,769
Management and general expenses
$178,674
Fundraising expenses
$0
Program service expenses (Part III)
$3,483,769

Program services were 95.1% 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.

  • 1d · Related organizations

    $101,100

  • 1f · All other contributions, gifts and grants

    $140,933

  • 3 · Investment income

    total $39,582 · excluded $39,582

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $2,703,567

  • 6b · Less rental expenses

    real property $2,361,350

  • 6c · Rental income or loss

    real property $342,217 · personal property $0

  • 6d · Net rental income or loss

    total $342,217 · excluded $342,217

  • 7a · Gross sales of assets other than inventory

    securities $5,392,715 · other assets $3,614,388

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

    securities $5,392,360 · other assets $7,956

  • 7c · Gain or loss

    securities $355 · other assets $3,606,432

  • 7d · Net gain or loss

    total $3,606,736 · excluded $3,606,736

  • 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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $201,752 · program services $201,752

  • 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 $309,000 · program services $247,200 · management and general $61,800

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $15,033 · program services $15,033

  • 11c · Fees: accounting

    total $64,050 · management and general $64,050

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $603 · management and general $603

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $1,528 · management and general $1,528

  • 14 · Information technology

    total $11,775 · management and general $11,775

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $165 · management and general $165

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $917 · management and general $917

  • 20 · Interest

    total $1,857,764 · program services $1,857,764

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $264 · program services $264

  • 23 · Insurance

    total $21,010 · program services $21,010

  • 24a · Other expenses: REAL ESTATE TAXES

    total $1,086,832 · program services $1,086,832

  • 24b · Other expenses: BOND FEE

    total $48,986 · program services $48,986

  • 24c · Other expenses: SERVICE CHARGES

    total $4,479 · program services $4,469 · management and general $10

  • 24d · Other expenses: REGISTRATION AND LICENSES

    total $481 · program services $456 · management and general $25

  • 24e · All other expenses

    total $37,804 · program services $3 · management and general $37,801

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $250,000 · end of year $250,000

  • 2 · Savings and temporary cash investments

    beginning of year $2,300,352 · end of year $2,381,055

  • 3 · Pledges and grants receivable

    beginning of year $3,914,811 · end of year $3,503,401

  • 4 · Accounts receivable

    beginning of year $1,106,585 · end of year $1,159,315

  • 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 $36,011,586 · end of year $33,387,608

  • 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

    $34,456,480

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

    $2,865,412

  • 10c · Land, buildings and equipment, net

    beginning of year $32,062,515 · end of year $31,591,068

  • 11 · Investments: publicly traded securities

    beginning of year $3,412,817 · end of year $2,592,521

  • 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 $2,992,125 · end of year $2,894,867

  • 17 · Accounts payable and accrued expenses

    beginning of year $380,173 · end of year $476,239

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $235,486 · end of year $175,127

  • 20 · Tax-exempt bond liabilities

    beginning of year $45,265,987 · end of year $41,354,490

  • 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 $10,753,383 · end of year $9,910,715

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,609,144 · end of year $624,297

  • 27 · Net assets without donor restrictions

    beginning of year $13,345,064 · end of year $20,025,605

  • 28 · Net assets with donor restrictions

    beginning of year $6,461,554 · end of year $5,193,362

Mission and programs · 2022

Mission

THE OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY.

Activities or mission (Part I)

SEE SCHEDULE O SUPPLEMENTAL INFORMATION FOR ORGANIZATION'S MISSION

  • AQUIRE, DEVELOP, AND MANAGE PROPERTY IN FURTHERANCE OF THE GOALS, MISSION AND OBJECTIVES OF OLD DOMINION UNIVERSITY.

    Expenses $3,483,769 · Grants $201,752

As filed on the 2022 return.

Listed in Part VII

  • Brian Hemphill

    EX-OFFICIO

    Total calculated
    $764,277
    From this org
    $0
    From related orgs
    $700,238
    Other
    $64,039
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $700,238 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $41,731 related
    Nontaxable benefits
    $0 + $22,308 related
    Filer's total
    $0 + $764,277 related

  • Margaret Libby

    ASST. TREASURER(THRU 10/2022)

    Total calculated
    $238,125
    From this org
    $0
    From related orgs
    $216,131
    Other
    $21,994
    Hours/week
    9

    Schedule J breakdown matched by us

    Base
    $0 + $216,131 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $17,476 related
    Nontaxable benefits
    $0 + $4,518 related
    Filer's total
    $0 + $238,125 related

  • Tara Saunders

    EXECUTIVE DIRECTOR

    Total calculated
    $186,416
    From this org
    $0
    From related orgs
    $151,042
    Other
    $35,374
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $151,042 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $26,866 related
    Nontaxable benefits
    $0 + $8,508 related
    Filer's total
    $0 + $186,416 related

  • Mike Larock

    ASST. TREASURER(FROM 10/2022)

    Total calculated
    $70,373
    From this org
    $0
    From related orgs
    $58,679
    Other
    $11,694
    Hours/week
    9

  • Donna Manglicmot

    ASST. SECRETARY(THRU 5/2022)

    Total calculated
    $27,439
    From this org
    $0
    From related orgs
    $20,824
    Other
    $6,615
    Hours/week
    13

  • Cindy Gall

    ASST. SECRETARY(FROM 10/2022)

    Total calculated
    $20,885
    From this org
    $0
    From related orgs
    $15,909
    Other
    $4,976
    Hours/week
    13

  • Lisa F Chandler

    CHAIR

    Total calculated
    $0
    Hours/week
    0.8

  • Teresa C Peters

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph A Lowery

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Robert L Dewey

    DIRECTOR EMERITUS

    Total calculated
    $0
    Hours/week
    0

  • Robert M Stanton

    DIRECTOR EMERITUS

    Total calculated
    $0
    Hours/week
    0

  • Robert Broermann

    TRUSTEE/BOV REP (THRU 06/2022)

    Total calculated
    $0
    Hours/week
    0.5

  • Jared Chalk

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • George L Consolvo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Larry R Hill

    TRUSTEE/BOV REP(FROM 07/2022)

    Total calculated
    $0
    Hours/week
    0.5

  • Miles Leon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Kenneth E Rodman Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Karen Shaffer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Debra K Stearns

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Nathaniel P Tyler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Chas Wright

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

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.

  • OLD DOMINION UNIVERSITY

    501(c)(3) · REAL ESTATE · VA

    Directly controlled by NA

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.

Provenance

Return type
form_990
Tax year
2022
Filed
20 September 2023
IRS schema version
2022v5.0
Source object
202322639349300017

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