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Nonprofiteer
← RED RAIDERS FACILITIES FOUNDATION INC

Form 990 for tax year 2022

Filed by RED RAIDERS FACILITIES FOUNDATION INC.

Totals

Total revenue
$23,202,647
Total expenses
$2,571,080
Contributions and grants received
$22,662,692
Grants paid
$0
Program service revenue
$0
Investment income
$539,955
Other revenue
$0
Total assets, end of year
$143,095,740
Total liabilities, end of year
$49,597,043
Net assets or fund balances, end of year
$93,498,697
Program services expenses (Part IX)
$2,174,004
Management and general expenses
$397,076
Fundraising expenses
$0
Program service expenses (Part III)
$2,174,004

Program services were 84.6% 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

    $22,662,692

  • 1g · Noncash contributions included above

    $100,000

  • 3 · Investment income

    total $540,035 · excluded $540,035

  • 7a · Gross sales of assets other than inventory

    securities $39,579

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

    securities $39,659

  • 7c · Gain or loss

    securities -$80

  • 7d · Net gain or loss

    total -$80 · excluded -$80

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $92,038 · management and general $92,038

  • 11b · Fees: legal

    total $284,038 · management and general $284,038

  • 11c · Fees: accounting

    total $21,000 · management and general $21,000

  • 20 · Interest

    total $425,380 · program services $425,380

  • 24a · Other expenses: DEBT ISSUANCE COST

    total $1,734,279 · program services $1,734,279

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $14,345 · program services $14,345

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,950,911 · end of year $16,706,664

  • 3 · Pledges and grants receivable

    beginning of year $56,300,471 · end of year $66,730,093

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

    $59,593,013

  • 10c · Land, buildings and equipment, net

    beginning of year $2,927,993 · end of year $59,593,013

  • 15 · Other assets

    beginning of year $0 · end of year $65,970

  • 17 · Accounts payable and accrued expenses

    beginning of year $312,245 · end of year $12,727,689

  • 23 · Secured mortgages and notes payable

    end of year $36,869,354

  • 28 · Net assets with donor restrictions

    beginning of year $72,867,130 · end of year $93,498,697

Mission and programs · 2022

Mission

TO SUPPORT AND PROMOTE, AND OTHERWISE HOLD, INVEST AND ADMINISTER PROPERTY AND MAKE EXPENDITURES FOR THE BENEFIT OF ATHLETICS AT TEXAS TECH UNIVERSITY.

  • RED RAIDER FACILITIES FOUNDATION'S ACTIVITIES INCLUDED THE DEVELOPMENT OF A NEW ATHLETIC TRAINING FACILITY FOR USE BY TEXAS TECH UNIVERSITY'S FOOTBALL TEAM. DEVELOPMENT OF A NEW SOUTH END ZONE FOR TEXAS TECH UNIVERSITY. THE PROJECT WILL INCLUDE A FOUR-LEVEL BUILDING IN THE SOUTH END ZONE OF JONES AT&T STADIUM, CONNECTING VIA SKYBRIDGE TO THE SPORTS PERFORMANCE CENTER AND THE NEW ATHLETIC TRAINING FACILITY.ONCE ALL FACILITIES ARE COMPLETE THE FOUNDATION WILL TRANSFER OWNERSHIP OF THE FACILITIES TO TEXAS TECH UNIVERSITY.

    Expenses $2,174,004

As filed on the 2022 return.

Listed in Part VII

  • CHRISTOPHER HUCKABEE

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    15

  • KING SCOVELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • ALAN HASSENFLU

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

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
2022
Filed
8 December 2023
IRS schema version
2022v5.0
Source object
202323429349301207

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