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Nonprofiteer
← CAMPUS DEVELOPMENT FOUNDATION INC

Form 990 for tax year 2022

Filed by CAMPUS DEVELOPMENT FOUNDATION INC.

Totals

Total revenue
$13,645,714
Total expenses
$15,151,035
Contributions and grants received
$581,321
Grants paid
$0
Program service revenue
$12,701,674
Investment income
$362,719
Other revenue
$0
Total assets, end of year
$71,847,895
Total liabilities, end of year
$80,014,868
Net assets or fund balances, end of year
-$8,166,973
Program services expenses (Part IX)
$14,987,831
Management and general expenses
$163,204
Fundraising expenses
$0
Program service expenses (Part III)
$14,987,831

Program services were 98.9% 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

    $581,321

  • 2a · Program service revenue: STUDENT HOUSING RENTAL

    total $12,701,674 · related or exempt $12,701,674

  • 3 · Investment income

    total $362,719 · excluded $362,719

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $35,745 · management and general $35,745

  • 13 · Office expenses

    total $127,459 · management and general $127,459

  • 20 · Interest

    total $2,574,926 · program services $2,574,926

  • 22 · Depreciation, depletion and amortization

    total $5,248,460 · program services $5,248,460

  • 23 · Insurance

    total $399,100 · program services $399,100

  • 24a · Other expenses: REPAIRS

    total $2,244,662 · program services $2,244,662

  • 24b · Other expenses: PERSONNEL EXPENSES

    total $2,081,864 · program services $2,081,864

  • 24c · Other expenses: MAINTENANCE

    total $1,308,426 · program services $1,308,426

  • 24d · Other expenses: UTILITIES

    total $1,068,577 · program services $1,068,577

  • 24e · All other expenses

    total $61,816 · program services $61,816

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $555,557 · end of year $199,613

  • 4 · Accounts receivable

    beginning of year $152,467 · end of year $211,140

  • 9 · Prepaid expenses and deferred charges

    beginning of year $185,001 · end of year $285,080

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

    $127,607,025

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

    $68,490,915

  • 10c · Land, buildings and equipment, net

    beginning of year $56,382,667 · end of year $59,116,110

  • 11 · Investments: publicly traded securities

    beginning of year $13,289,999 · end of year $11,976,971

  • 15 · Other assets

    beginning of year $332,914 · end of year $58,981

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,367,085 · end of year $2,121,905

  • 19 · Deferred revenue

    end of year $8,122

  • 20 · Tax-exempt bond liabilities

    beginning of year $54,513,037 · end of year $51,481,357

  • 25 · Other liabilities

    beginning of year $21,680,135 · end of year $26,403,484

  • 27 · Net assets without donor restrictions

    beginning of year -$11,661,652 · end of year -$13,166,973

  • 28 · Net assets with donor restrictions

    beginning of year $5,000,000 · end of year $5,000,000

Mission and programs · 2022

Mission

TO SUPPORT THE ORGANIZATION AND PURPOSES OF THE UNIVERSITY OF CHATTANOOGA FOUNDATION, INC. BY DEVELOPMENT OF CAPITAL PROJECTS SUCH AS STUDENT HOUSING TO SUPPORT THE UNIVERSITY.

Activities or mission (Part I)

THE CORPORATION WAS ESTABLISHED TO SUPPORT THE ORGANIZATION AND PURPOSES OF THE UNIVERSITY OF CHATTANOOGA FOUNDATION, INC. BY DEVELOPMENT OF CAPITAL PROJECTS SUCH AS STUDENT HOUSING TO SUPPORT THE UNIVERSITY.

  • PROVIDING HOUSING TO STUDENTS AT THE UNIVERSITY OF TENNESSEE AT CHATTANOOGA. HOUSING PROVIDED TO MORE THAN 1600 STUDENTS DURING THE CURRENT YEAR.

    Expenses $14,987,831 · Revenue $12,701,674

As filed on the 2022 return.

Listed in Part VII

  • Douglas A Brown

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Mike Costello

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Bill Kilbride

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Roger Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Ashlee Patten

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Steve Frost

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Frank Williamson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Suzanne Forlidas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Ladell McCullough

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Todd Womack

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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.

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.

  • CDFI PHASE I LLC

    TO DEVELOP AN ELEMENTARY SCHOOL AND STUDENT HOUSING · TN · income $12,701,674 · assets $63,572,331

    Directly controlled by CAMPUS DEVELOPMENT FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
5 December 2023
IRS schema version
2022v5.0
Source object
202410169349301356

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