Civic Intelligence

Longwood University Real Estate Foundation

990 • Fiscal year 2020 • EIN 20-1612906

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 10, 2021

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

1.08x

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

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

9.92x

Higher debt load relative to revenue than 96% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Net Margin

70th percentile

10%

Higher net margin than 70% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Top Officer Pay

3rd percentile

$113,112

Higher top officer pay than 3% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Asset Growth

66th percentile

12%

Faster asset growth than 66% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

33%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$272,226,716

Up $28,466,164 (+12%) from 2019

Net Assets

Down

-$21,968,714

Down $7,306,477 (-50%) from 2019

Liabilities

Up

$294,195,430

Up $35,772,641 (+14%) from 2019

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin70th percentile

Revenue

Up

$29,646,672

Up $7,433,509 (+33%) from 2019

Expenses

Up

$26,576,229

Up $5,301,985 (+25%) from 2019

Net Income

Up

$3,070,443

Up $2,131,524 (+227%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth66th 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

2020

Assets$272,226,716
Liabilities$294,195,430
Net Assets-$21,968,714
Open 2020 Filing

Operations Trend

Revenue Growth91st 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

2020

Revenue$29,646,672
Expenses$26,576,229
Net Income$3,070,443
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 10, 2021
Return Version
2020v4.0
Gross Receipts
$29,996,759
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$165,672,166$184,298,555▲ $18,626,389
Cash and Non-Interest-Bearing Accounts$11,232,347$23,105,063▲ $11,872,716
Prepaid Expenses and Deferred Charges$452,345$137,456▼ $314,889
Other Notes and Loans Receivable, Net$293,053$134,728▼ $158,325
Total Assets$243,760,552$272,226,716▲ $28,466,164
Other Assets Total$66,110,641$64,550,914▼ $1,559,727
Liabilities
Tax Exempt Bond Liabilities$215,410,000$242,535,000▲ $27,125,000
Mortgage Notes Payable Secured by Investment Property$30,558,981$36,850,438▲ $6,291,457
Accounts Payable and Accrued Expenses$9,875,066$9,872,620▼ $2,446
Other Liabilities$1,505,511$3,911,921▲ $2,406,410
Unsecured Notes Loans Payable$1,073,231$1,025,451▼ $47,780
Total Liabilities$258,422,789$294,195,430▲ $35,772,641
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,860,928$10,863,789▲ $7,002,861
Net Assets Without Donor Restrictions$-18,523,165$-32,832,503▼ $14,309,338
Total Net Assets Fund Balance$-14,662,237$-21,968,714▼ $7,306,477
Total Liabilities and Net Assets / Fund Balance$243,760,552$272,226,716▲ $28,466,164

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$152,376,966$33,286,616$185,663,582
Other Land Buildings$12,177,090$6,562,457$18,739,547
Land$17,129,278-$17,129,278
Equipment$2,615,221$3,881,029$6,496,250
Other Assets Org$170,568--
Compensation and Service Providers
Top Officer Pay3rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Louise W WallerExecutive DiFT$91,106$22,006$113,112

Board Members and Trustees

NameTitle
John W Daniel IiPresident
Courtney HodgesDirector
Dr Helen P Warriner-burkeDirector
E Duffy MyrtetusDirector
Gregory F Fawcett IiDirector
Hunter WatsonDirector
Sherry SwinsonDirector
Tim J Pierson Ph DDirector
Troy S AustinDirector
W Taylor Reveley IvDirector
William FiegeDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$7,195,902
Program Service Revenue
$21,972,817
Investment Income
$472,413
Other Revenue
$5,540
All Other Contributions
$7,195,902
Change in Net Assets
$3,070,443

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,996,759
Revenue Not Reported on Financial Statements
$-350,087
Other Revenue Adjustments
$-350,087
Total Revenue per Audited Statements
$29,996,759
Total Revenue per Form 990
$29,646,672
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,543,444
Grants and Similar Amounts Paid$3,685,673
Salaries, Compensation, and Employee Benefits$347,112
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$9,676,138--$9,676,138
Depreciation Depletion$6,099,093--$6,099,093
Occupancy$4,620,232--$4,620,232
Grants to Domestic Orgs$3,685,673--$3,685,673
Insurance$380,265$3,394-$383,659
Fees for Services Other$162,268$108,514-$270,782
Other Salaries and Wages$147,335$45,030-$192,365
Current Officers, Directors, Trustees, and Key Employees$91,620$10,180-$101,800
Fees for Services Accounting-$80,788-$80,788
Office Expenses-$60,665-$60,665
Other Employee Benefits$20,644$25,722-$46,366
Other Expenses$34,362$1,289-$34,362
All Other Expenses$8,700--$8,700
Payroll Taxes$6,581--$6,581
Fees for Services Legal$3,987$1,476-$5,463
Travel-$4,861-$4,861
Total Functional Expenses$26,234,310$341,919$0$26,576,229

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$37,303,236
Expenses per Audited Statements$26,576,229
Total Expenses per Form 990$26,576,229
Expenses Not Reported on Form 990$10,727,007
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Longwood UniversityFarmville, VAGovGeneral Support$3,650,673
Prince Edward Co Vol Rescue SquadFarmville, VA501c3General Operations$30,000
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$9,468,281
Security Deposits$12,229
Loan Costs$-5,568,589

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIda of Town of Farmville Va 2020a2020-06-25$121,625,000The refunding of series 2017 bonds, acquisition of leasehold interest, and refinancing of debt.
AIda of Town of Farmville Va 2018a2018-12-20$120,910,000To refund series 2015 bonds, finance any reserves, and pay cost of issuance required under the 2018

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$126,771,074$108,337,774-$2,683,234
A$126,101,847$116,875,946-$2,290,998

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 35% controlled entity
No
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
2021-11-10
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
5

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

“Defeasement of debt -5,112,319 termination of interest derivatives -5,264,601 total -10,376,920”

Financial Statement Notes

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

“Rental expense offsetting income -350,087”

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

“Rental expenses 350,087 loss on extinguishment of debt 5,112,319 loss on derivatives 5,264,601”

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IRS990/GrossReceiptsAmt029996759
IRS990/GrossRentsGrp/RealAmt0355627
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt04
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt03394
IRS990/InsuranceGrp/ProgramServicesAmt0380265
IRS990/InsuranceGrp/TotalAmt0383659
IRS990/InterestGrp/ProgramServicesAmt09676138
IRS990/InterestGrp/TotalAmt09676138
IRS990/InvestmentIncomeGrp/ExclusionAmt0472413
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0472413
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt035
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt043730102
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0165672166
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0184298555
IRS990/LandBldgEquipCostOrOtherBssAmt0228028657
IRS990/LegalDomicileStateCd0VA
IRS990/LessRentalExpensesGrp/RealAmt0350087
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/BOYAmt030558981
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt036850438
IRS990/NetAssetsOrFundBalancesBOYAmt0-14662237
IRS990/NetAssetsOrFundBalancesEOYAmt0-21968714
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt05540
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt05540
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-18523165
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-32832503
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt04620232
IRS990/OccupancyGrp/TotalAmt04620232
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt060665
IRS990/OfficeExpensesGrp/TotalAmt060665
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt066110641
IRS990/OtherAssetsTotalGrp/EOYAmt064550914
IRS990/OtherChangesInNetAssetsAmt0-10376920
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt025722
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt020644
IRS990/OtherEmployeeBenefitsGrp/TotalAmt046366
IRS990/OtherExpensesGrp/Desc0FACILITY MANAGEMENT COSTS
IRS990/OtherExpensesGrp/Desc1OTHER PROGRAM EXP
IRS990/OtherExpensesGrp/Desc2WALK TO CAMPUS COSTS
IRS990/OtherExpensesGrp/Desc3B&B OPERATING COSTS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01289
IRS990/OtherExpensesGrp/ProgramServicesAmt01209376
IRS990/OtherExpensesGrp/ProgramServicesAmt149167
IRS990/OtherExpensesGrp/ProgramServicesAmt238869
IRS990/OtherExpensesGrp/ProgramServicesAmt334362
IRS990/OtherExpensesGrp/TotalAmt01209376
IRS990/OtherExpensesGrp/TotalAmt150456
IRS990/OtherExpensesGrp/TotalAmt238869
IRS990/OtherExpensesGrp/TotalAmt334362
IRS990/OtherLiabilitiesGrp/BOYAmt01505511
IRS990/OtherLiabilitiesGrp/EOYAmt03911921
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt045030
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0147335
IRS990/OtherSalariesAndWagesGrp/TotalAmt0192365
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0293053
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0134728
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt06581
IRS990/PayrollTaxesGrp/TotalAmt06581
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0452345
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0137456
IRS990/PrincipalOfficerNm0LOUISE W WALLER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531190
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0RENT
IRS990/ProgramServiceRevenueGrp/Desc1PARKING
IRS990/ProgramServiceRevenueGrp/Desc2OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt021813455
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1138642
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt220720
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt021813455
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1138642
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt220720
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt03907709
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt02470444
IRS990/PYInvestmentIncomeAmt01643594
IRS990/PYOtherExpensesAmt018519424
IRS990/PYOtherRevenueAmt0-11083
IRS990/PYProgramServiceRevenueAmt016672943
IRS990/PYRevenuesLessExpensesAmt0938919
IRS990/PYSalariesCompEmpBnftPaidAmt0284376
IRS990/PYTotalExpensesAmt021274244
IRS990/PYTotalRevenueAmt022213163
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt03070443
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt05540
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt021972817
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/SupportAmt03650673
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0LONGWOOD UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt03650673
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0152376966
IRS990ScheduleD/BuildingsGrp/DepreciationAmt033286616
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0185663582
IRS990ScheduleD/EquipmentGrp/BookValueAmt02615221
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03881029
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06496250
IRS990ScheduleD/ExpensesNotReportedAmt010727007
IRS990ScheduleD/ExpensesSubtotalAmt026576229
IRS990ScheduleD/LandGrp/BookValueAmt017129278
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt017129278
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt040477819
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt122704623
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21197904
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3170568
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RIGHT OF USE ASSET - LAND LEASE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM LONGWOOD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3OTHER RECEIVABLE
IRS990ScheduleD/OtherExpensesIncludedAmt010727007
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt012177090
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06562457
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018739547
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09468281
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt112229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-5568589
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BOND DISCOUNT & PREMIUM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LOAN COSTS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-350087
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-350087
IRS990ScheduleD/RevenueSubtotalAmt029996759
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL EXPENSE OFFSETTING INCOME -350,087
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES 350,087 LOSS ON EXTINGUISHMENT OF DEBT 5,112,319 LOSS ON DERIVATIVES 5,264,601
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0184298555
IRS990ScheduleD/TotalBookValueOtherAssetsAmt064550914
IRS990ScheduleD/TotalExpensesPerForm990Amt026576229
IRS990ScheduleD/TotalLiabilityAmt03911921
IRS990ScheduleD/TotalRevenuePerForm990Amt029646672
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt029996759
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt037303236
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt03650673
IRS990ScheduleI/RecipientTable/CashGrantAmt130000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GENERAL OPERATIONS

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$272,226,716
Liabilities
$294,195,430
Net assets
-$21,968,714
Revenue
$29,646,672
Expenses
$26,576,229
Net income
$3,070,443
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