Bucknell Real Estate Inc

“The following individuals have business relationships with each other based on their positions within bucknell real estate's related organization, bucknell university. Bucknell real estate bucknell university elizabeth stewart - interim president/ associate vp for finance/ vice president assistant secretary lori wilson - secretary employee ronald e. Stauffer, ii - board member employee”

“The final form 990 is reviewed with the board of trustees prior to filing.”

“All trustees are required to complete and submit an annual conflict of interest statement to the organization's secretary. All statements are reviewed by the secretary to determine if the possible conflicts of interest noted are actual conflicts and what action should be taken including prohibiting an individual from participating in any deliberations, decisions or transactions related to the conflict, and whether disclosures regarding the conflict should be made in financial statements or other documents.”

“Bucknell real estate, inc. Is included in bucknell university's audited consolidated financial statements, which are published on the university's website. Governing documents and policies are available upon request.”

“As part of a new markets tax credit project in lewisburg, pa, bucknell university loaned $12,022,694 in december 2010 to an entity controlled by wells fargo community investment holdings, llc. That entity then loaned the $12,022,694 and an additional $4,167,306 to wells fargo community development enterprises 7, llc, which in turn loaned those funds to bucknell real estate, inc. In december 2010. The funds were used for the acquisition and improvement of certain properties in lewisburg, pa. In fiscal year 2019 the university wound down the new market tax credit. As part of that process the university became the sole holder of the $16,190,000 loan. The loans require interest payable quarterly at 1.01% with principal payments beginning april 1, 2018 through january 1, 2046. Interest paid to bucknell university relating to loan a was $163,519 for the year ended june 30, 2024.”

“Bucknell real estate, inc.'s financial statements are included in the consolidated financial statements of bucknell university. The university's financial statements are reviewed by the university's audit, compliance, and risk management committee. The consolidated financial statements are also presented to the board of bucknell real estate, inc. The university's audit, compliance, and risk management committee is charged with the duty of selection of the independent accountant for the consolidated financial statements.”