Civic Intelligence

Longwood University Real Estate Foundation

990 • Fiscal year 2017 • EIN 20-1612906

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 09, 2018

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

94th percentile

1.07x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

18.72x

Higher debt load relative to revenue than 98% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

18th percentile

-4.5%

Higher net margin than 18% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

4th percentile

$114,336

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

97th percentile

68%

Faster asset growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

61st percentile

8.5%

Faster revenue growth than 61% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$219,514,375

Up $88,788,050 (+68%) from 2016

Net Assets

Up

-$15,854,353

Up $4,249,732 (+21%) from 2016

Liabilities

Up

$235,368,728

Up $84,538,318 (+56%) from 2016

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin18th percentile

Revenue

Up

$12,570,441

Up $983,307 (+8.5%) from 2016

Expenses

Up

$13,134,357

Up $1,746,185 (+15%) from 2016

Net Income

Down

-$563,916

Down $762,878 (-383%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth97th 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

2017

Assets$219,514,375
Liabilities$235,368,728
Net Assets-$15,854,353
Open 2017 Filing

Operations Trend

Revenue Growth61st 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

2017

Revenue$12,570,441
Expenses$13,134,357
Net Income-$563,916
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 9, 2018
Return Version
2017v2.3
Gross Receipts
$13,186,788
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$113,814,679$114,861,438▲ $1,046,759
Cash and Non-Interest-Bearing Accounts$2,489,231$3,701,503▲ $1,212,272
Other Notes and Loans Receivable, Net$147,402$302,946▲ $155,544
Prepaid Expenses and Deferred Charges$68,653$77,755▲ $9,102
Total Assets$130,726,325$219,514,375▲ $88,788,050
Other Assets Total$14,206,360$100,570,733▲ $86,364,373
Liabilities
Tax Exempt Bond Liabilities$110,110,000$204,010,000▲ $93,900,000
Mortgage Notes Payable Secured by Investment Property$24,182,948$24,431,496▲ $248,548
Accounts Payable and Accrued Expenses$5,274,743$4,681,881▼ $592,862
Other Liabilities$7,041,001$1,166,704▼ $5,874,297
Unsecured Notes Loans Payable$4,221,718$1,078,647▼ $3,143,071
Total Liabilities$150,830,410$235,368,728▲ $84,538,318
Net Assets / Fund Balance
Unrestricted Net Assets$-20,104,085$-15,854,353▲ $4,249,732
Total Net Assets Fund Balance$-20,104,085$-15,854,353▲ $4,249,732
Total Liabilities and Net Assets / Fund Balance$130,726,325$219,514,375▲ $88,788,050

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$87,491,434$20,311,149$107,802,583
Land$17,025,523-$17,025,523
Other Land Buildings$8,748,935$4,707,801$13,456,736
Equipment$1,595,546$2,937,202$4,532,748
Other Assets Org$36,405--
Compensation and Service Providers
Top Officer Pay4th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Louise W WallerExecutive DiFT$114,336$114,336

Board Members and Trustees

NameTitle
Bill WalshPresident
Courtney HodgesDirector
Dr Helen P Warriner-burkeDirector
E Duffy MyrtetusDirector
Gregory F Fawcett IiDirector
Hunter WatsonDirector
P Kenneth Copeland JrDirector
Sherry SwinsonDirector
Steven P GouldDirector
Tim J Pierson Ph DDirector
W Taylor Reveley IvDirector
William FiegeDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Little Diversified Arch DesignArchitecture5815 WESTPARK DRIVE, SUITE 400, Charlotte, NC 28217$1,886,295
English ConstructionConstruction615 CHURCH STREET, Lynchburg, VA 24504$1,049,338
Kensington Capital AdvisorsAdvisory4064 COLONY ROAD, Charlotte, NC 28211$109,410
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,727,018
Investment Income
$47,356
Other Revenue
$-203,933
Change in Net Assets
$-563,916

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,903,985
Revenue Not Reported on Financial Statements
$-333,544
Revenue Not Reported on Form 990
$4,813,648
Other Revenue Adjustments
$-333,544
Total Revenue per Audited Statements
$17,717,633
Total Revenue per Form 990
$12,570,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,935,418
Salaries, Compensation, and Employee Benefits$198,939
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$4,397,751--$4,397,751
Interest$4,028,101--$4,028,101
Occupancy$3,010,113--$3,010,113
Insurance$297,233$3,576-$300,809
Fees for Services Other$137,226$38,120-$175,346
Current Officers, Directors, Trustees, and Key Employees$92,606$10,290-$102,896
Office Expenses$18,333$82,020-$100,353
Fees for Services Legal$60,386$3,522-$63,908
Fees for Services Accounting-$62,036-$62,036
Other Salaries and Wages$42,164$19,311-$61,475
All Other Expenses$34,146$336-$34,482
Other Employee Benefits$15,364$7,497-$22,861
Other Expenses$22,000--$22,000
Payroll Taxes$9,554$2,153-$11,707
Total Functional Expenses$12,905,496$228,861$0$13,134,357

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$13,467,901
Expenses per Audited Statements$13,134,357
Total Expenses per Form 990$13,134,357
Expenses Not Reported on Form 990$333,544
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$3,415,104
Security Deposits$12,229
Loan Costs$-2,260,629

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
BIda of Town of Farmville Va2017-12-12$94,500,000Renovation of student housing

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$110,610,000$85,848,303-$1,124,579
B$94,500,000--$1,200,000

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
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
Bill Walsh
Title
President
Phone
4343952086
Signed
2018-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louise W Waller
Formed
2004
Legal Domicile
Va
Voting Board Members
13
Independent Board Members
6
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 4,813,648”

Financial Statement Notes

Schedule D, Page 3, Part X

“Management has evaluated the effect of the guidance provided by u.s. Gaap on accounting for uncertainty in income taxes, as well as evaluated all other tax positions 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, 2017.”

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

“Unrealized gain/loss on swap 4,813,648”

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

“Rental expense offsetting income -333,544”

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

“RENTAL EXPENSES 333,544”

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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/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE DI
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IRS990/FormationYr02004
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossReceiptsAmt013186788
IRS990/GrossRentsGrp/RealAmt0306164
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IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt06
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt03576
IRS990/InsuranceGrp/ProgramServicesAmt0297233
IRS990/InsuranceGrp/TotalAmt0300809
IRS990/InterestGrp/ProgramServicesAmt04028101
IRS990/InterestGrp/TotalAmt04028101
IRS990/InvestmentIncomeGrp/ExclusionAmt026409
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt026409
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IRS990/InvestTaxExemptBondsInd0false
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt0113814679
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0114861438
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IRS990/LegalDomicileStateCd0VA
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IRS990/LessRentalExpensesGrp/RealAmt0333544
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
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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.
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt020947
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0-27380
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0-27380
IRS990/NetUnrelatedBusTxblIncmAmt0-27380
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt03010113
IRS990/OccupancyGrp/TotalAmt03010113
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt082020
IRS990/OfficeExpensesGrp/ProgramServicesAmt018333
IRS990/OfficeExpensesGrp/TotalAmt0100353
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt014206360
IRS990/OtherAssetsTotalGrp/EOYAmt0100570733
IRS990/OtherChangesInNetAssetsAmt04813648
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07497
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt015364
IRS990/OtherEmployeeBenefitsGrp/TotalAmt022861
IRS990/OtherExpensesGrp/Desc0FACILITY MANAGEMENT COSTS
IRS990/OtherExpensesGrp/Desc1WALK TO CAMPUS COSTS
IRS990/OtherExpensesGrp/Desc2DESIGN COSTS-OTHER PROP
IRS990/OtherExpensesGrp/Desc3DESIGN FEES
IRS990/OtherExpensesGrp/ProgramServicesAmt0663482
IRS990/OtherExpensesGrp/ProgramServicesAmt144327
IRS990/OtherExpensesGrp/ProgramServicesAmt232710
IRS990/OtherExpensesGrp/ProgramServicesAmt322000
IRS990/OtherExpensesGrp/TotalAmt0663482
IRS990/OtherExpensesGrp/TotalAmt144327
IRS990/OtherExpensesGrp/TotalAmt232710
IRS990/OtherExpensesGrp/TotalAmt322000
IRS990/OtherLiabilitiesGrp/BOYAmt07041001
IRS990/OtherLiabilitiesGrp/EOYAmt01166704
IRS990/OtherRevenueMiscGrp/Desc0LOSS ON DEFEASEMENT OF DEBT
IRS990/OtherRevenueMiscGrp/ExclusionAmt0-176553
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0-176553
IRS990/OtherRevenueTotalAmt0-176553
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt019311
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt042164
IRS990/OtherSalariesAndWagesGrp/TotalAmt061475
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0147402
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0302946
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02153
IRS990/PayrollTaxesGrp/ProgramServicesAmt09554
IRS990/PayrollTaxesGrp/TotalAmt011707
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt068653
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt077755
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/Desc2OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3STUDENT DAMAGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt012505656
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1141837
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt239806
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt339719
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt012505656
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1141837
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt239806
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt339719
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt098623
IRS990/PYOtherExpensesAmt011173531
IRS990/PYOtherRevenueAmt0-18529
IRS990/PYProgramServiceRevenueAmt011507040
IRS990/PYRevenuesLessExpensesAmt0198962
IRS990/PYSalariesCompEmpBnftPaidAmt0214641
IRS990/PYTotalExpensesAmt011388172
IRS990/PYTotalRevenueAmt011587134
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-563916
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-27380
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt012727018
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
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0LONGWOOD UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt087491434
IRS990ScheduleD/BuildingsGrp/DepreciationAmt020311149
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01595546
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02937202
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04532748
IRS990ScheduleD/ExpensesNotReportedAmt0333544
IRS990ScheduleD/ExpensesSubtotalAmt013134357
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt017025523
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt017025523
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt098408449
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11635191
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2453188
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt337500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt436405
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM LONGWOOD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM LONGWOOD FDN
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4OTHER RECEIVABLE
IRS990ScheduleD/OtherExpensesIncludedAmt0333544
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt08748935
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04707801
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013456736
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03415104
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt112229

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$219,514,375
Liabilities
$235,368,728
Net assets
-$15,854,353
Revenue
$12,570,441
Expenses
$13,134,357
Net income
-$563,916
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