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Nonprofiteer
← VSU AUXILIARY SERVICES REAL ESTATEFOUNDATION INC

Form 990 for tax year 2022

Filed by VSU AUXILIARY SERVICES REAL ESTATEFOUNDATION INC.

Totals

Total revenue
$10,158,393
Total expenses
$7,605,408
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,065,323
Investment income
$93,070
Other revenue
$0
Total assets, end of year
$159,668,855
Total liabilities, end of year
$150,441,263
Net assets or fund balances, end of year
$9,227,592
Program services expenses (Part IX)
$7,605,408
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$7,605,408

Program services were 100.0% 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: Interest from capital leases

    total $5,253,457 · related or exempt $5,253,457

  • 2b · Program service revenue: Administrative fees

    total $4,811,866 · related or exempt $4,811,866

  • 3 · Investment income

    total $93,070 · excluded $93,070

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $4,906,658 · program services $4,906,658

  • 22 · Depreciation, depletion and amortization

    total $98,467 · program services $98,467

  • 23 · Insurance

    total $286,700 · program services $286,700

  • 24a · Other expenses: Repair and replacement

    total $2,184,550 · program services $2,184,550

  • 24b · Other expenses: Fees

    total $127,208 · program services $127,208

  • 24e · All other expenses

    total $1,825 · program services $1,825

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,048,711 · end of year $17,654,138

  • 7 · Other notes and loans receivable

    beginning of year $148,611,114 · end of year $141,764,740

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,289 · end of year $22,639

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

    $227,338

  • 10c · Land, buildings and equipment, net

    beginning of year $227,338 · end of year $227,338

  • 20 · Tax-exempt bond liabilities

    beginning of year $141,065,000 · end of year $135,475,000

  • 25 · Other liabilities

    beginning of year $16,170,845 · end of year $14,966,263

  • 27 · Net assets without donor restrictions

    beginning of year $6,674,607 · end of year $9,227,592

Mission and programs · 2022

Mission

To develop Valdosta State University's facilities and infrastructure as identified in the University's strategic planning process and the master plan of the University.

Activities or mission (Part I)

Facilities maintenance and leasing for benefit of Valdosta State University.

  • Provide administrative services over facilities leased to Valdosta State University.

    Expenses $7,605,408 · Revenue $10,065,323

As filed on the 2022 return.

Listed in Part VII

  • Jane Peeples

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • David Durland

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Scott Purvis

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Jeffry Lovell

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Cynamon Willis

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Jeff Smith

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Vince Miller

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Shannon McGee

    Director

    Total calculated
    $141,609
    From this org
    $0
    From related orgs
    $141,609
    Other
    $0
    Hours/week
    14 + 26 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.

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.

  • VSU Aux Serv RE - Parking & Health LLC

    Capital Lease · GA

    Directly controlled by VSU Auxiliary Services

  • VSU Aux Serv RE - Student Union LLC

    Capital Lease · GA

    Directly controlled by VSU Auxiliary Services

  • VSU Aux Serv RE - Georgia Reade Hopper LLC

    Capital Lease · GA

    Directly controlled by VSU Auxiliary Services

  • VSU Aux Serv RE - Acquisition LLC

    Support · GA

    Directly controlled by VSU Auxiliary Services

  • VSU Aux Serv RE - Centennial Lowndes & Patterson LLC

    Capital Lease · GA

    Directly controlled by VSU Auxiliary Services

Provenance

Return type
form_990
Tax year
2022
Filed
10 August 2023
IRS schema version
2022v5.0
Source object
202332269349300318

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