Skip to content
Nonprofiteer
← WKU REAL ESTATE CORPORATION

Form 990 for tax year 2023

Filed by WKU REAL ESTATE CORPORATION.

Totals

Total revenue
$268,237
Total expenses
$112,348
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$39,642
Other revenue
$228,595
Total assets, end of year
$10,284,206
Total liabilities, end of year
$2,463,835
Net assets or fund balances, end of year
$7,820,371
Program services expenses (Part IX)
$94,881
Management and general expenses
$17,467
Fundraising expenses
$0
Program service expenses (Part III)
$94,881

Program services were 84.5% 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.

  • 3 · Investment income

    total $42,800 · related or exempt $15,428 · excluded $27,372

  • 6a · Gross rents

    real property $359,467

  • 6b · Less rental expenses

    real property $218,036

  • 6c · Rental income or loss

    real property $141,431

  • 6d · Net rental income or loss

    total $141,431 · related or exempt $141,431

  • 7a · Gross sales of assets other than inventory

    other assets $274,100

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

    other assets $277,258

  • 7c · Gain or loss

    other assets -$3,158

  • 7d · Net gain or loss

    total -$3,158 · related or exempt -$3,158

  • 11a · Other revenue: CHANGE IN VALUE OF SPLIT-INTE

    total $81,563 · related or exempt $81,563

  • 11b · Other revenue: KY TAX REIMBURSEMENT

    total $5,200 · related or exempt $5,200

  • 11c · Other revenue: MISCELLANEOUS

    total $401 · related or exempt $401

  • 11e · Other revenue, total

    $87,164

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $6,000 · management and general $6,000

  • 11c · Fees: accounting

    total $9,800 · management and general $9,800

  • 20 · Interest

    total $94,881 · program services $94,881

  • 24a · Other expenses: BANK FEES

    total $1,438 · management and general $1,438

  • 24b · Other expenses: OTHER MISCELLANEOUS EXPEN

    total $229 · management and general $229

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $303,979 · end of year $662,609

  • 7 · Other notes and loans receivable

    beginning of year $184,308 · end of year $140,074

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

    $7,988,676

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

    $356,373

  • 10c · Land, buildings and equipment, net

    beginning of year $6,462,188 · end of year $7,632,303

  • 15 · Other assets

    beginning of year $1,869,401 · end of year $1,849,220

  • 17 · Accounts payable and accrued expenses

    beginning of year $315 · end of year $42

  • 23 · Secured mortgages and notes payable

    beginning of year $2,379,240 · end of year $2,215,593

  • 25 · Other liabilities

    beginning of year $326,720 · end of year $248,200

  • 27 · Net assets without donor restrictions

    beginning of year $1,963,801 · end of year $3,820,371

  • 28 · Net assets with donor restrictions

    beginning of year $4,149,800 · end of year $4,000,000

Mission and programs · 2023

Mission

CHARITABLE CIVIC-IMPROVEMENT CORPORATION ESTABLISHED FOR THE BENEFIT OF WESTERN KENTUCKY UNIVERSITY

Activities or mission (Part I)

THE WKU REAL ESTATE CORPORATION IS A CHARITABLE CIVIC-IMPROVEMENT CORPORATION ESTABLISHED FOR THE BENEFIT OF WESTERN KENTUCKY UNIVERSITY.

  • PROVIDED FUNDS FOR ENDOWED SCHOLARSHIPS TO THE WKU FOUNDATION AND FACILITATES WKU CAMPUS IMPROVEMENT AND REAL ESTATE ACQUISITION/CONSTRUCTION PROJECTS.

    Expenses $94,881

As filed on the 2023 return.

Listed in Part VII

  • Gemonee Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • R Harvey Johnston III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Martens

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jack Sheidler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kim Thomas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Donald Smith

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 December 2024
IRS schema version
2023v5.0
Source object
202433479349300043

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.