Civic Intelligence

Longwood University Real Estate Foundation

990 • Fiscal year 2021 • EIN 20-1612906

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

1.06x

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

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

10.75x

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

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Net Margin

38th percentile

4.6%

Higher net margin than 38% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

4th percentile

$116,928

Higher top officer pay than 4% of similar nonprofits.

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

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Asset Growth

67th percentile

18%

Faster asset growth than 67% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Revenue Growth

41st percentile

7.6%

Faster revenue growth than 41% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$322,438,396

Up $50,211,680 (+18%) from 2020

Net Assets

Up

-$20,497,741

Up $1,470,973 (+6.7%) from 2020

Liabilities

Up

$342,936,137

Up $48,740,707 (+17%) from 2020

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin38th percentile

Revenue

Up

$31,911,007

Up $2,264,335 (+7.6%) from 2020

Expenses

Up

$30,440,034

Up $3,863,805 (+15%) from 2020

Net Income

Down

$1,470,973

Down $1,599,470 (-52%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth67th 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

2021

Assets$322,438,396
Liabilities$342,936,137
Net Assets-$20,497,741
Open 2021 Filing

Operations Trend

Revenue Growth41st 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

2021

Revenue$31,911,007
Expenses$30,440,034
Net Income$1,470,973
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$32,230,390
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$184,298,555$195,503,246▲ $11,204,691
Cash and Non-Interest-Bearing Accounts$23,105,063$13,366,011▼ $9,739,052
Prepaid Expenses and Deferred Charges$137,456$140,536▲ $3,080
Other Notes and Loans Receivable, Net$134,728$132,650▼ $2,078
Total Assets$272,226,716$322,438,396▲ $50,211,680
Other Assets Total$64,550,914$113,295,953▲ $48,745,039
Liabilities
Tax Exempt Bond Liabilities$242,535,000$292,435,000▲ $49,900,000
Mortgage Notes Payable Secured by Investment Property$36,850,438$36,332,692▼ $517,746
Accounts Payable and Accrued Expenses$9,872,620$10,986,143▲ $1,113,523
Other Liabilities$3,911,921$2,208,487▼ $1,703,434
Unsecured Notes Loans Payable$1,025,451$973,815▼ $51,636
Total Liabilities$294,195,430$342,936,137▲ $48,740,707
Net Assets / Fund Balance
Net Assets With Donor Restrictions$10,863,789$16,615,562▲ $5,751,773
Net Assets Without Donor Restrictions$-32,832,503$-37,113,303▼ $4,280,800
Total Net Assets Fund Balance$-21,968,714$-20,497,741▲ $1,470,973
Total Liabilities and Net Assets / Fund Balance$272,226,716$322,438,396▲ $50,211,680

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$150,971,556$39,060,236$190,031,792
Other Land Buildings$25,147,038$7,329,932$32,476,970
Land$17,129,278-$17,129,278
Equipment$2,255,374$4,332,710$6,588,084
Other Assets Org$267,615--
Compensation and Service Providers
Top Officer Pay4th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Louise W WallerExecutive DiFT$94,345$22,583$116,928

Board Members and Trustees

NameTitle
John W Daniel IiPresident
Courtney HodgesDirector
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
Sherri MooreSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$6,533,686
Program Service Revenue
$25,298,175
Investment Income
$34,305
Other Revenue
$44,841
All Other Contributions
$6,533,686
Change in Net Assets
$1,470,973

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,228,787
Revenue Not Reported on Financial Statements
$-317,780
Other Revenue Adjustments
$-317,780
Total Revenue per Audited Statements
$32,228,787
Total Revenue per Form 990
$31,911,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$28,560,293
Grants and Similar Amounts Paid$1,531,500
Salaries, Compensation, and Employee Benefits$348,241
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$13,339,979--$13,339,979
Depreciation Depletion$6,875,236--$6,875,236
Occupancy$5,702,055--$5,702,055
Grants to Domestic Orgs$1,531,500--$1,531,500
Insurance$455,204$4,589-$459,793
Fees for Services Other$198,128$61,057-$259,185
Other Salaries and Wages$152,511$33,404-$185,915
Current Officers, Directors, Trustees, and Key Employees$105,235$11,693-$116,928
Fees for Services Accounting-$61,071-$61,071
Office Expenses-$57,346-$57,346
Other Employee Benefits$23,506$15,574-$39,080
Payroll Taxes$6,318--$6,318
Fees for Services Legal$3,596$1,861-$5,457
Other Expenses$5,217--$5,217
Travel-$2,284-$2,284
All Other Expenses$178--$178
Total Functional Expenses$30,191,155$248,879$0$30,440,034

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$30,757,814
Expenses per Audited Statements$30,440,034
Total Expenses per Form 990$30,440,034
Expenses Not Reported on Form 990$317,780
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Longwood UniversityFarmville, VAGovGeneral Support$1,500,000
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$9,185,581
Security Deposits$12,229
Loan Costs$-6,989,323

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
CIda of Town of Farmville Va 20212021-03-29$49,900,000Financing the construction and equipping of a multipurpose special events and convocation center fac

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$126,771,074$109,698,322-$2,683,234
A$126,101,846$120,835,305-$2,290,998
C$49,900,000$685,432-$998,000

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
2022-11-15
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
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

“Rental expense offsetting income 317,780 rental expenses -317,780 defeasement of debt 0 termination of interest derivatives 0”

Financial Statement Notes

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

“Rental expense offsetting income -317,780”

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

“RENTAL EXPENSES 317,780”

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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/GrantsToDomesticOrgsGrp/ProgramServicesAmt01531500
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01531500
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt014900
IRS990/GrossReceiptsAmt032230390
IRS990/GrossRentsGrp/RealAmt0364224
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt04
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt04589
IRS990/InsuranceGrp/ProgramServicesAmt0455204
IRS990/InsuranceGrp/TotalAmt0459793
IRS990/InterestGrp/ProgramServicesAmt013339979
IRS990/InterestGrp/TotalAmt013339979
IRS990/InvestmentIncomeGrp/ExclusionAmt019405
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt019405
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt038
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt050722878
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0184298555
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0195503246
IRS990/LandBldgEquipCostOrOtherBssAmt0246226124
IRS990/LegalDomicileStateCd0VA
IRS990/LessRentalExpensesGrp/RealAmt0319383
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/BOYAmt036850438
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt036332692
IRS990/NetAssetsOrFundBalancesBOYAmt0-21968714
IRS990/NetAssetsOrFundBalancesEOYAmt0-20497741
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt014900
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt014900
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt044841
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt044841
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-32832503
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-37113303
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt05702055
IRS990/OccupancyGrp/TotalAmt05702055
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt057346
IRS990/OfficeExpensesGrp/TotalAmt057346
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt064550914
IRS990/OtherAssetsTotalGrp/EOYAmt0113295953
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt015574
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt023506
IRS990/OtherEmployeeBenefitsGrp/TotalAmt039080
IRS990/OtherExpensesGrp/Desc0FACILITY MANAGEMENT COSTS
IRS990/OtherExpensesGrp/Desc1WALK TO CAMPUS COSTS
IRS990/OtherExpensesGrp/Desc2OTHER PROGRAM EXP
IRS990/OtherExpensesGrp/Desc3B&B OPERATING COSTS
IRS990/OtherExpensesGrp/ProgramServicesAmt01717307
IRS990/OtherExpensesGrp/ProgramServicesAmt139233
IRS990/OtherExpensesGrp/ProgramServicesAmt235952
IRS990/OtherExpensesGrp/ProgramServicesAmt35217
IRS990/OtherExpensesGrp/TotalAmt01717307
IRS990/OtherExpensesGrp/TotalAmt139233
IRS990/OtherExpensesGrp/TotalAmt235952
IRS990/OtherExpensesGrp/TotalAmt35217
IRS990/OtherLiabilitiesGrp/BOYAmt03911921
IRS990/OtherLiabilitiesGrp/EOYAmt02208487
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt033404
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0152511
IRS990/OtherSalariesAndWagesGrp/TotalAmt0185915
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0134728
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0132650
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt06318
IRS990/PayrollTaxesGrp/TotalAmt06318
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0137456
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0140536
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/RelatedOrExemptFuncIncomeAmt025107001
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1123095
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt268079
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt025107001
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1123095
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt268079
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt07195902
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt03685673
IRS990/PYInvestmentIncomeAmt0472413
IRS990/PYOtherExpensesAmt022543444
IRS990/PYOtherRevenueAmt05540
IRS990/PYProgramServiceRevenueAmt021972817
IRS990/PYRevenuesLessExpensesAmt03070443
IRS990/PYSalariesCompEmpBnftPaidAmt0347112
IRS990/PYTotalExpensesAmt026576229
IRS990/PYTotalRevenueAmt029646672
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01470973
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt044841
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt025298175
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/SupportAmt01500000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0LONGWOOD UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt01500000
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/BookValueAmt0150971556
IRS990ScheduleD/BuildingsGrp/DepreciationAmt039060236
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0190031792
IRS990ScheduleD/EquipmentGrp/BookValueAmt02255374
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04332710
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06588084
IRS990ScheduleD/ExpensesNotReportedAmt0317780
IRS990ScheduleD/ExpensesSubtotalAmt030440034
IRS990ScheduleD/LandGrp/BookValueAmt017129278
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt017129278
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt087120286
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt122129623
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt23778429
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3267615
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RIGHT OF USE ASSET - LAND LEASE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM LONGWOOD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3OTHER RECEIVABLE
IRS990ScheduleD/OtherExpensesIncludedAmt0317780
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt025147038
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07329932
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt032476970
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09185581
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt112229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-6989323
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BOND DISCOUNT & PREMIUM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LOAN COSTS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-317780
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-317780
IRS990ScheduleD/RevenueSubtotalAmt032228787
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL EXPENSE OFFSETTING INCOME -317,780
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES 317,780
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0195503246
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0113295953
IRS990ScheduleD/TotalExpensesPerForm990Amt030440034
IRS990ScheduleD/TotalLiabilityAmt02208487
IRS990ScheduleD/TotalRevenuePerForm990Amt031911007
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt032228787
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt030757814
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt01500000
IRS990ScheduleI/RecipientTable/CashGrantAmt130000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501C3

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$322,438,396
Liabilities
$342,936,137
Net assets
-$20,497,741
Revenue
$31,911,007
Expenses
$30,440,034
Net income
$1,470,973
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