Civic Intelligence

Longwood University Real Estate Foundation

990 • Fiscal year 2018 • EIN 20-1612906

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

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

1.05x

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

23.60x

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

16th percentile

-3.3%

Higher net margin than 16% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

2nd percentile

$116,484

Higher top officer pay than 2% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

97th percentile

60%

Faster asset growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

86th percentile

24%

Faster revenue growth than 86% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$350,893,618

Up $131,379,243 (+60%) from 2017

Net Assets

Down

-$17,943,113

Down $2,088,760 (-13%) from 2017

Liabilities

Up

$368,836,731

Up $133,468,003 (+57%) from 2017

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin16th percentile

Revenue

Up

$15,629,631

Up $3,059,190 (+24%) from 2017

Expenses

Up

$16,146,006

Up $3,011,649 (+23%) from 2017

Net Income

Up

-$516,375

Up $47,541 (+8.4%) from 2017

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

2018

Assets$350,893,618
Liabilities$368,836,731
Net Assets-$17,943,113
Open 2018 Filing

Operations Trend

Revenue Growth86th 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

2018

Revenue$15,629,631
Expenses$16,146,006
Net Income-$516,375
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$16,163,735
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$114,861,438$128,931,696▲ $14,070,258
Cash and Non-Interest-Bearing Accounts$3,701,503$4,234,172▲ $532,669
Other Notes and Loans Receivable, Net$302,946$296,882▼ $6,064
Prepaid Expenses and Deferred Charges$77,755$75,200▼ $2,555
Total Assets$219,514,375$350,893,618▲ $131,379,243
Other Assets Total$100,570,733$217,355,668▲ $116,784,935
Liabilities
Tax Exempt Bond Liabilities$204,010,000$331,835,000▲ $127,825,000
Mortgage Notes Payable Secured by Investment Property$24,431,496$23,663,693▼ $767,803
Accounts Payable and Accrued Expenses$4,681,881$9,404,902▲ $4,723,021
Other Liabilities$1,166,704$2,819,731▲ $1,653,027
Unsecured Notes Loans Payable$1,078,647$1,113,405▲ $34,758
Total Liabilities$235,368,728$368,836,731▲ $133,468,003
Net Assets / Fund Balance
Unrestricted Net Assets$-15,854,353$-17,943,113▼ $2,088,760
Total Net Assets Fund Balance$-15,854,353$-17,943,113▼ $2,088,760
Total Liabilities and Net Assets / Fund Balance$219,514,375$350,893,618▲ $131,379,243

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$108,179,336-$108,179,336
Other Land Buildings$-996,261$32,526,647$31,530,386
Land$17,171,797-$17,171,797
Equipment$4,576,824-$4,576,824
Other Assets Org$378,482--
Compensation and Service Providers
Top Officer Pay2nd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Louise W WallerExecutive DiPT$116,484$116,484

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,867,528
Investment Income
$1,800,863
Other Revenue
$-38,760
Change in Net Assets
$-516,375

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,007,060
Revenue Not Reported on Financial Statements
$-377,429
Revenue Not Reported on Form 990
$-1,572,385
Other Revenue Adjustments
$-377,429
Total Revenue per Audited Statements
$14,434,675
Total Revenue per Form 990
$15,629,631
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,077,342
Grants and Similar Amounts Paid$2,864,071
Salaries, Compensation, and Employee Benefits$204,593
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$4,457,718--$4,457,718
Interest$3,758,543--$3,758,543
Occupancy$3,083,636--$3,083,636
Grants to Domestic Orgs$2,864,071--$2,864,071
Insurance$258,602--$258,602
Fees for Services Other$20,785$193,640-$214,425
Office Expenses$25,954$91,219-$117,173
Current Officers, Directors, Trustees, and Key Employees$94,351$10,484-$104,835
Fees for Services Accounting-$74,375-$74,375
Other Salaries and Wages$42,826$21,043-$63,869
Other Expenses$40,269--$40,269
Other Employee Benefits$16,655$7,855-$24,510
All Other Expenses$20,089$777-$20,866
Fees for Services Legal$9,960$1,550-$11,510
Payroll Taxes$9,179$2,200-$11,379
Total Functional Expenses$15,742,863$403,143$0$16,146,006

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$16,523,435
Expenses per Audited Statements$16,146,006
Total Expenses per Form 990$16,146,006
Expenses Not Reported on Form 990$377,429
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Longwood UniversityFarmville, VAGovGeneral Support$2,714,071
Town of FarmvilleFarmville, VAGovFire Truck$150,000
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
Bond Discount & Premium$5,100,382
Interest Rate Swap Valuation$2,258,598
Security Deposits$12,229
Loan Costs$-4,551,478

Bond Issues

BondIssuerIssuedIssue PricePurpose
CIda of Town of Farmville Va2018-12-20$120,910,000To refund series 2015 bonds, finance any reserves, and pay cost of issuance
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
DIda of Town of Farmville Va2018-12-20$7,515,000To refund series 2015 bonds, finance any reserves, and pay cost of issuance

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$126,101,847$2,728,890-$2,290,998
A$110,610,000$85,848,303-$1,124,579
B$94,500,000$13,283,307-$1,200,000
D$7,423,535--$229,182

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
Louise W Waller
Title
Executive Director
Phone
4343952086
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louise W Waller
Formed
2004
Legal Domicile
Va
Voting Board Members
12
Independent Board Members
4
Employees
12

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 -1,572,385”

Financial Statement Notes

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

“Unrealized gain/loss on swap -1,572,385”

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

“Rental expense offsetting income -377,429”

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

“RENTAL EXPENSES 377,429”

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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/GrossReceiptsAmt016163735
IRS990/GrossRentsGrp/RealAmt0338329
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt04
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt0258602
IRS990/InsuranceGrp/TotalAmt0258602
IRS990/InterestGrp/ProgramServicesAmt03758543
IRS990/InterestGrp/TotalAmt03758543
IRS990/InvestmentIncomeGrp/ExclusionAmt01798538
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01798538
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt038
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt032526647
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0114861438
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0128931696
IRS990/LandBldgEquipCostOrOtherBssAmt0161458343
IRS990/LegalDomicileStateCd0VA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0156675
IRS990/LessRentalExpensesGrp/RealAmt0377429
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/BOYAmt024431496
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt023663693
IRS990/NetAssetsOrFundBalancesBOYAmt0-15854353
IRS990/NetAssetsOrFundBalancesEOYAmt0-17943113
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt02325
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt02325
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0-39100
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0-39100
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt03083636
IRS990/OccupancyGrp/TotalAmt03083636
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt091219
IRS990/OfficeExpensesGrp/ProgramServicesAmt025954
IRS990/OfficeExpensesGrp/TotalAmt0117173
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0100570733
IRS990/OtherAssetsTotalGrp/EOYAmt0217355668
IRS990/OtherChangesInNetAssetsAmt0-1572385
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07855
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt016655
IRS990/OtherEmployeeBenefitsGrp/TotalAmt024510
IRS990/OtherExpensesGrp/Desc0FACILITY MANAGEMENT COSTS
IRS990/OtherExpensesGrp/Desc1DESIGN COSTS-OTHER PROP
IRS990/OtherExpensesGrp/Desc2WALK TO CAMPUS COSTS
IRS990/OtherExpensesGrp/Desc3HOTEL PROGRAM COSTS
IRS990/OtherExpensesGrp/ProgramServicesAmt0780649
IRS990/OtherExpensesGrp/ProgramServicesAmt1210790
IRS990/OtherExpensesGrp/ProgramServicesAmt248786
IRS990/OtherExpensesGrp/ProgramServicesAmt340269
IRS990/OtherExpensesGrp/TotalAmt0780649
IRS990/OtherExpensesGrp/TotalAmt1210790
IRS990/OtherExpensesGrp/TotalAmt248786
IRS990/OtherExpensesGrp/TotalAmt340269
IRS990/OtherLiabilitiesGrp/BOYAmt01166704
IRS990/OtherLiabilitiesGrp/EOYAmt02819731
IRS990/OtherRevenueMiscGrp/Desc0LATE FEE REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt0340
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0340
IRS990/OtherRevenueTotalAmt0340
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt021043
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt042826
IRS990/OtherSalariesAndWagesGrp/TotalAmt063869
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0302946
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0296882
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02200
IRS990/PayrollTaxesGrp/ProgramServicesAmt09179
IRS990/PayrollTaxesGrp/TotalAmt011379
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt077755
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt075200
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/RelatedOrExemptFuncIncomeAmt013682022
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1138817
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt232516
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt314173
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013682022
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1138817
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt232516
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt314173
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt047356
IRS990/PYOtherExpensesAmt012935418
IRS990/PYOtherRevenueAmt0-203933
IRS990/PYProgramServiceRevenueAmt012727018
IRS990/PYRevenuesLessExpensesAmt0-563916
IRS990/PYSalariesCompEmpBnftPaidAmt0198939
IRS990/PYTotalExpensesAmt013134357
IRS990/PYTotalRevenueAmt012570441
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-516375
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-39100
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt013867868
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 ADDITION TO ANY MONETARY SUPPORT, THE FOUNDATION PROVIDES 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/SupportAmt02714071
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0LONGWOOD UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt02714071
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0108179336
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0108179336
IRS990ScheduleD/EquipmentGrp/BookValueAmt04576824
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04576824
IRS990ScheduleD/ExpensesNotReportedAmt0377429
IRS990ScheduleD/ExpensesSubtotalAmt016146006
IRS990ScheduleD/LandGrp/BookValueAmt017171797
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt017171797
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0213822397
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12421898
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2732891
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3378482
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM LONGWOOD
IRS990ScheduleD/OtherExpensesIncludedAmt0377429
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0-996261
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt032526647
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt031530386
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05100382
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12258598
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt212229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3-4551478
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BOND DISCOUNT & PREMIUM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST RATE SWAP VALUATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3LOAN COSTS
IRS990ScheduleD/OtherRevenueAmt0-1572385
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-377429
IRS990ScheduleD/RevenueNotReportedAmt0-1572385
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-377429
IRS990ScheduleD/RevenueSubtotalAmt016007060
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNREALIZED GAIN/LOSS ON SWAP -1,572,385
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSE OFFSETTING INCOME -377,429
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES 377,429
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0128931696
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0217355668
IRS990ScheduleD/TotalExpensesPerForm990Amt016146006
IRS990ScheduleD/TotalLiabilityAmt02819731
IRS990ScheduleD/TotalRevenuePerForm990Amt015629631
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014434675
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt016523435
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt02714071
IRS990ScheduleI/RecipientTable/CashGrantAmt1150000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/IRCSectionDesc1GOV
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1FIRE TRUCK

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$350,893,618
Liabilities
$368,836,731
Net assets
-$17,943,113
Revenue
$15,629,631
Expenses
$16,146,006
Net income
-$516,375
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