Civic Intelligence

Longwood University Real Estate Foundation

990 • Fiscal year 2016 • EIN 20-1612906

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization ProfileWWW.LONGWOOD.EDU/REALESTATEFOUNDATION
315 West Third StreetFarmville, VA 23901

(434) 395-2086

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

1.15x

Higher debt load relative to assets than 95% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

13.02x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

45th percentile

1.7%

Higher net margin than 45% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

4th percentile

$110,705

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

83rd percentile

12%

Faster asset growth than 83% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

89th percentile

28%

Faster revenue growth than 89% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$130,726,325

Up $13,678,205 (+12%) from 2015

Net Assets

Down

-$20,104,085

Down $2,123,965 (-12%) from 2015

Liabilities

Up

$150,830,410

Up $15,802,170 (+12%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin45th percentile

Revenue

Up

$11,587,134

Up $2,520,886 (+28%) from 2015

Expenses

Up

$11,388,172

Up $378,515 (+3.4%) from 2015

Net Income

Up

$198,962

Up $2,142,371 (+110%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$200M$0-$200MAssets 2010: $50,857,707Liabilities 2010: $58,415,146Net Assets 2010: -$7,557,4392010Assets 2011: $52,366,028Liabilities 2011: $66,028,521Net Assets 2011: -$13,662,4932011Assets 2012: $73,822,828Liabilities 2012: $89,569,138Net Assets 2012: -$15,746,3102012Assets 2013: $93,619,784Liabilities 2013: $105,469,783Net Assets 2013: -$11,849,9992013Assets 2014: $93,039,666Liabilities 2014: $109,281,370Net Assets 2014: -$16,241,7042014Assets 2015: $117,048,120Liabilities 2015: $135,028,240Net Assets 2015: -$17,980,1202015Assets 2016: $130,726,325Liabilities 2016: $150,830,410Net Assets 2016: -$20,104,0852016Assets 2017: $219,514,375Liabilities 2017: $235,368,728Net Assets 2017: -$15,854,3532017Assets 2018: $350,893,618Liabilities 2018: $368,836,731Net Assets 2018: -$17,943,1132018Assets 2019: $243,760,552Liabilities 2019: $258,422,789Net Assets 2019: -$14,662,2372019Assets 2020: $272,226,716Liabilities 2020: $294,195,430Net Assets 2020: -$21,968,7142020Assets 2021: $322,438,396Liabilities 2021: $342,936,137Net Assets 2021: -$20,497,7412021Assets 2022: $314,213,989Liabilities 2022: $340,801,955Net Assets 2022: -$26,587,9662022Assets 2023: $301,484,487Liabilities 2023: $335,070,479Net Assets 2023: -$33,585,9922023Assets 2024: $298,140,860Liabilities 2024: $334,657,692Net Assets 2024: -$36,516,8322024

Highlighted filing

2016

Assets$130,726,325
Liabilities$150,830,410
Net Assets-$20,104,085
Open 2016 Filing

Operations Trend

Revenue Growth89th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $6,441,4542010Expenses 2011: $6,708,2632011Revenue 2012: $6,064,730Expenses 2012: $8,530,541Net Income 2012: -$2,465,8112012Revenue 2013: $7,725,542Expenses 2013: $8,627,192Net Income 2013: -$901,6502013Revenue 2014: $10,223,113Expenses 2014: $11,776,353Net Income 2014: -$1,553,2402014Revenue 2015: $9,066,248Expenses 2015: $11,009,657Net Income 2015: -$1,943,4092015Revenue 2016: $11,587,134Expenses 2016: $11,388,172Net Income 2016: $198,9622016Revenue 2017: $12,570,441Expenses 2017: $13,134,357Net Income 2017: -$563,9162017Revenue 2018: $15,629,631Expenses 2018: $16,146,006Net Income 2018: -$516,3752018Revenue 2019: $22,213,163Expenses 2019: $21,274,244Net Income 2019: $938,9192019Revenue 2020: $29,646,672Expenses 2020: $26,576,229Net Income 2020: $3,070,4432020Revenue 2021: $31,911,007Expenses 2021: $30,440,034Net Income 2021: $1,470,9732021Revenue 2022: $26,239,174Expenses 2022: $32,329,399Net Income 2022: -$6,090,2252022Revenue 2023: $29,649,183Expenses 2023: $36,647,209Net Income 2023: -$6,998,0262023Revenue 2024: $35,126,384Expenses 2024: $38,577,423Net Income 2024: -$3,451,0392024

Highlighted filing

2016

Revenue$11,587,134
Expenses$11,388,172
Net Income$198,962
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$11,740,959
Mission and Program Overview

Mission

The mission of the foundation is to acquire, develop, finance, lease, hold, operate, manage and dispose of real property assets and interests for longwood university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$90,425,453$113,814,679▲ $23,389,226
Cash and Non-Interest-Bearing Accounts$932,284$2,489,231▲ $1,556,947
Other Notes and Loans Receivable, Net$149,711$147,402▼ $2,309
Prepaid Expenses and Deferred Charges$37,754$68,653▲ $30,899
Total Assets$117,048,120$130,726,325▲ $13,678,205
Other Assets Total$25,502,918$14,206,360▼ $11,296,558
Liabilities
Tax Exempt Bond Liabilities$110,610,000$110,110,000▼ $500,000
Mortgage Notes Payable Secured by Investment Property$9,884,879$24,182,948▲ $14,298,069
Other Liabilities$5,727,984$7,041,001▲ $1,313,017
Accounts Payable and Accrued Expenses$4,444,196$5,274,743▲ $830,547
Unsecured Notes Loans Payable$4,361,181$4,221,718▼ $139,463
Total Liabilities$135,028,240$150,830,410▲ $15,802,170
Net Assets / Fund Balance
Unrestricted Net Assets$-17,980,120$-20,104,085▼ $2,123,965
Total Net Assets Fund Balance$-17,980,120$-20,104,085▼ $2,123,965
Total Liabilities and Net Assets / Fund Balance$117,048,120$130,726,325▲ $13,678,205

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$88,799,350$16,870,274$105,669,624
Land$16,496,208-$16,496,208
Other Land Buildings$6,828,767$4,001,821$10,830,588
Equipment$1,690,354$2,646,592$4,336,946
Other Assets Org$29,763--
Compensation and Service Providers
Top Officer Pay4th percentile

Employees

NameTitleOtherTotal
Louise W WallerExecutive Di$110,705$110,705

Board Members and Trustees

NameTitle
Otis BrownPresident
Brad SchwartzDirector
Claire Reeves La RoacheDirector
Courtney HodgesDirector
Dr Helen P Warriner-burkeDirector
E Duffy MyrtetusDirector
Gregory F Fawcett IiDirector
Hunter WatsonDirector
Mike EvansDirector
P Kenneth Copeland JrDirector
Sherry SwinsonDirector
Thomas Ryan Frisbie-fultonDirector
Tim J Pierson Ph DDirector
W Taylor Reveley IvDirector
William FiegeDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,507,040
Investment Income
$98,623
Other Revenue
$-18,529
Change in Net Assets
$198,962

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,740,959
Revenue Not Reported on Financial Statements
$-153,825
Revenue Not Reported on Form 990
$-2,322,927
Other Revenue Adjustments
$-153,825
Total Revenue per Audited Statements
$9,418,032
Total Revenue per Form 990
$11,587,134
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,173,531
Salaries, Compensation, and Employee Benefits$214,641
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$3,882,127--$3,882,127
Interest$3,078,623--$3,078,623
Occupancy$2,659,203--$2,659,203
Fees for Services Other$171,797$69,118-$240,915
Insurance$213,718$3,190-$216,908
Current Officers, Directors, Trustees, and Key Employees$99,634$11,070-$110,704
Other Salaries and Wages$37,075$25,232-$62,307
Office Expenses-$58,012-$58,012
Fees for Services Accounting-$46,515-$46,515
All Other Expenses$36,217$366-$36,583
Other Expenses$30,193--$30,193
Other Employee Benefits$18,915$9,357-$28,272
Fees for Services Legal$21,343--$21,343
Payroll Taxes$10,697$2,661-$13,358
Total Functional Expenses$11,162,651$225,521$0$11,388,172

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$11,541,997
Expenses per Audited Statements$11,388,172
Total Expenses per Form 990$11,388,172
Expenses Not Reported on Form 990$153,825
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap Valuation$8,228,752
Security Deposits$12,229
Loan Costs$-1,199,980

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIda of Town of Farmville Va2015-05-28$110,610,000Refunding of series 2012 bonds and financing construction of arc quad

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$18,137,118$85,848,303-$1,124,579

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
Yes
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A draft copy of the 990 is given to the executive director and the board members for a period of time for changes before the 990 is filed. The final form 990 is presented at the preceeding board of trustees meeting and all board members are provided a copy to review and ask questions.”

Form 990, Page 6, Part VI, Line 15A

“Salaries are approved by longwood university.”

Form 990, Page 6, Part VI, Line 15B

“All salaries are approved by longwood university”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statement available upon request.”

Filing and Contact Details

Filer

Filer Name
Longwood University
EIN
20-1612906
Phone
4343952086
Address
315 WEST THIRD STREET, FARMVILLE, VA 23901

Signing Officer

Name
Louise W Waller
Title
Executive Director
Phone
4343952086
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louise W Waller
Formed
2004
Legal Domicile
Va
Voting Board Members
15
Independent Board Members
5
Employees
11

Preparer

Firm
J Brocklehurst CPA Pllc
Address
3900 WESTERRE PARKWAY SUITE 300, RICHMOND, VA 23233
Preparer
Janet L Brocklehurst
Phone
8047270120
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Unrealized gain/loss on swap -2,322,927 rental expense offsetting income 153,825 rental expenses included in program exp -153,825 total -2,322,927”

Financial Statement Notes

Schedule D, Page 3, Part X

“Management has evaluated the effect of guidance provided in us gaap as well as all other tax positons that could have a significant effect on the consolidated financial statements and determined that the foundation has no uncertain tax positions as of december 31, 2016.”

Schedule D, Page 4, Part XI, Line 2D

“Unrealized gain/loss on swap -2,322,927”

Schedule D, Page 4, Part XI, Line 4B

“Rental expense offsetting income -153,825”

Schedule D, Page 4, Part XII, Line 2D

“Rental expenses included in program exp 153,825”

Raw XML AppendixShowing 400 of 638 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DI
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02004
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/SecuritiesAmt07159
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt07159
IRS990/GrossReceiptsAmt011740959
IRS990/GrossRentsGrp/RealAmt0135296
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt05
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt03190
IRS990/InsuranceGrp/ProgramServicesAmt0213718
IRS990/InsuranceGrp/TotalAmt0216908
IRS990/InterestGrp/ProgramServicesAmt03078623
IRS990/InterestGrp/TotalAmt03078623
IRS990/InvestmentIncomeGrp/ExclusionAmt091464
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt091464
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt018
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt023518687
IRS990/LandBldgEquipBasisNetGrp/BOYAmt090425453
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0113814679
IRS990/LandBldgEquipCostOrOtherBssAmt0137333366
IRS990/LegalDomicileStateCd0VA
IRS990/LessRentalExpensesGrp/RealAmt0153825
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE MISSION OF THE FOUNDATION IS TO ACQUIRE, DEVELOP, FINANCE, LEASE, HOLD, OPERATE, MANAGE AND DISPOSE OF REAL PROPERTY ASSETS AND INTERESTS FOR LONGWOOD UNIVERSITY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt09884879
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt024182948
IRS990/NetAssetsOrFundBalancesBOYAmt0-17980120
IRS990/NetAssetsOrFundBalancesEOYAmt0-20104085
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt07159
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt07159
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0-18529
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0-18529
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt02659203
IRS990/OccupancyGrp/TotalAmt02659203
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt058012
IRS990/OfficeExpensesGrp/TotalAmt058012
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt025502918
IRS990/OtherAssetsTotalGrp/EOYAmt014206360
IRS990/OtherChangesInNetAssetsAmt0-2322927
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt09357
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt018915
IRS990/OtherEmployeeBenefitsGrp/TotalAmt028272
IRS990/OtherExpensesGrp/Desc0FACILITY MANAGEMENT COSTS
IRS990/OtherExpensesGrp/Desc1UNIVERSITY EXPENSES
IRS990/OtherExpensesGrp/Desc2DESIGN COSTS-OTHER PROP
IRS990/OtherExpensesGrp/Desc3FEASIBILITY STUDY
IRS990/OtherExpensesGrp/ProgramServicesAmt0679366
IRS990/OtherExpensesGrp/ProgramServicesAmt1114289
IRS990/OtherExpensesGrp/ProgramServicesAmt2109454
IRS990/OtherExpensesGrp/ProgramServicesAmt330193
IRS990/OtherExpensesGrp/TotalAmt0679366
IRS990/OtherExpensesGrp/TotalAmt1114289
IRS990/OtherExpensesGrp/TotalAmt2109454
IRS990/OtherExpensesGrp/TotalAmt330193
IRS990/OtherLiabilitiesGrp/BOYAmt05727984
IRS990/OtherLiabilitiesGrp/EOYAmt07041001
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt025232
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt037075
IRS990/OtherSalariesAndWagesGrp/TotalAmt062307
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0149711
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0147402
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02661
IRS990/PayrollTaxesGrp/ProgramServicesAmt010697
IRS990/PayrollTaxesGrp/TotalAmt013358
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt037754
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt068653
IRS990/PrincipalOfficerNm0LOUISE W WALLER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531190
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/BusinessCd3531390
IRS990/ProgramServiceRevenueGrp/Desc0RENT
IRS990/ProgramServiceRevenueGrp/Desc1PARKING
IRS990/ProgramServiceRevenueGrp/Desc2STUDENT DAMAGES
IRS990/ProgramServiceRevenueGrp/Desc3OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt011264291
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1181530
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt233984
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt327235
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt011264291
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1181530
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt233984
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt327235
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt069982
IRS990/PYInvestmentIncomeAmt014133
IRS990/PYOtherExpensesAmt010708838
IRS990/PYProgramServiceRevenueAmt09052115
IRS990/PYRevenuesLessExpensesAmt0-1943409
IRS990/PYSalariesCompEmpBnftPaidAmt0230837
IRS990/PYTotalExpensesAmt011009657
IRS990/PYTotalRevenueAmt09066248
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0198962
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-18529
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt011507040
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE REAL ESTATE FOUNDATION BOARD OF DIRECTORS IS APPOINTED BY LONGWOOD UNIVERSITY BOARD OF VISITORS AND INCLUDES 4 EX-OFFICIO DIRECTORS THAT HOLD OFFICIAL POSITIONS AT THE UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE FOUNDATION PROVIDES LEASING OF STUDENT HOUSING AND OTHER STUDENT RELATED FACILITIES TO LONGWOOD UNIVERSITY (THE SUPPORTED ORGANIZATION) AND SUPPORTS GENERAL REAL ESTATE AND PROPERTY MANAGEMENT FOR THE UNIVERSITY. IN LIEU OF MONETARY SUPPORT, THE FOUNDATION PROVIDED ACCESS TO THE FACILITIES UNDER LEASE AGREEMENTS, AND PAYS MANAGEMENT AND OTHER ANCILLARY SERVICE FEES TO THE UNIVERSITY. SEE SCHEDULE R.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION C, LINE 1
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SUPPLEMENTAL INFORMATION
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd0false
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0546001788
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0LONGWOOD UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt088799350
IRS990ScheduleD/BuildingsGrp/DepreciationAmt016870274
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0105669624
IRS990ScheduleD/EquipmentGrp/BookValueAmt01690354
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02646592
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04336946
IRS990ScheduleD/ExpensesNotReportedAmt0153825
IRS990ScheduleD/ExpensesSubtotalAmt011388172
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt016496208
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt016496208
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011826527
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11785189
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2365456
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3199425
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt429763
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM LONGWOOD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3OTHER RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4RENT RECEIVABLE
IRS990ScheduleD/OtherExpensesIncludedAmt0153825
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06828767
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04001821
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt010830588
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08228752
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt112229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-1199980
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTEREST RATE SWAP VALUATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LOAN COSTS
IRS990ScheduleD/OtherRevenueAmt0-2322927
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-153825
IRS990ScheduleD/RevenueNotReportedAmt0-2322927
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-153825
IRS990ScheduleD/RevenueSubtotalAmt011740959
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THE EFFECT OF GUIDANCE PROVIDED IN US GAAP AS WELL AS ALL OTHER TAX POSITONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE CONSOLIDATED FINANCIAL STATEMENTS AND DETERMINED THAT THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1UNREALIZED GAIN/LOSS ON SWAP -2,322,927
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSE OFFSETTING INCOME -153,825

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$130,726,325
Liabilities
$150,830,410
Net assets
-$20,104,085
Revenue
$11,587,134
Expenses
$11,388,172
Net income
$198,962
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$298$335$36.5$35.1$38.6$3.45
2023Detailed filing. Detailed filing data is available for this year.$301$335$33.6$29.6$36.6$7.00
2022Detailed filing. Detailed filing data is available for this year.$314$341$26.6$26.2$32.3$6.09
2021Detailed filing. Detailed filing data is available for this year.$322$343$20.5$31.9$30.4$1.47
2020Detailed filing. Detailed filing data is available for this year.$272$294$22.0$29.6$26.6$3.07
2019Detailed filing. Detailed filing data is available for this year.$244$258$14.7$22.2$21.3$0.94
2018Detailed filing. Detailed filing data is available for this year.$351$369$17.9$15.6$16.1$0.52
2017Detailed filing. Detailed filing data is available for this year.$220$235$15.9$12.6$13.1$0.56
2016Detailed filing. Detailed filing data is available for this year.$131$151$20.1$11.6$11.4$0.20
2015Detailed filing. Detailed filing data is available for this year.$117$135$18.0$9.07$11.0$1.94
2014Detailed filing. Detailed filing data is available for this year.$93.0$109$16.2$10.2$11.8$1.55
2013Detailed filing. Detailed filing data is available for this year.$93.6$105$11.8$7.73$8.63$0.90
2012Summary only. Only limited summary data is available for this year.$73.8$89.6$15.7$6.06$8.53$2.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.4$66.0$13.7$6.71
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.9$58.4$7.56$6.44