Civic Intelligence

Virginia Commonwealth University Real Estate Foundation

990 • Fiscal year 2017 • EIN 54-1666531

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

PO Box 843075Richmond, VA 23284-3075

(804) 828-9292

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.66x

Higher debt load relative to assets than 78% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

7.19x

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

81st percentile

24%

Higher net margin than 81% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

83rd percentile

$788,754

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

33rd percentile

1.7%

Faster asset growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

46th percentile

4.1%

Faster revenue growth than 46% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$95,409,346

Up $1,622,977 (+1.7%) from 2016

Net Assets

Up

$32,644,914

Up $2,630,141 (+8.8%) from 2016

Liabilities

Down

$62,764,432

Down $1,007,164 (-1.6%) from 2016

Revenue

Up

$8,726,249

Up $345,370 (+4.1%) from 2016

Expenses

Up

$6,629,241

Up $224,149 (+3.5%) from 2016

Net Income

Up

$2,097,008

Up $121,221 (+6.1%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2011: $69,972,898Liabilities 2011: $50,137,035Net Assets 2011: $19,835,8632011Assets 2012: $51,245,327Liabilities 2012: $28,165,690Net Assets 2012: $23,079,6372012Assets 2013: $75,251,095Liabilities 2013: $50,378,076Net Assets 2013: $24,873,0192013Assets 2014: $80,211,725Liabilities 2014: $54,035,713Net Assets 2014: $26,176,0122014Assets 2015: $81,737,625Liabilities 2015: $53,465,386Net Assets 2015: $28,272,2392015Assets 2016: $93,786,369Liabilities 2016: $63,771,596Net Assets 2016: $30,014,7732016Assets 2017: $95,409,346Liabilities 2017: $62,764,432Net Assets 2017: $32,644,9142017Assets 2018: $93,529,271Liabilities 2018: $58,261,295Net Assets 2018: $35,267,9762018Assets 2019: $93,115,473Liabilities 2019: $55,210,765Net Assets 2019: $37,904,7082019Assets 2020: $91,759,283Liabilities 2020: $50,619,228Net Assets 2020: $41,140,0552020Assets 2021: $95,872,198Liabilities 2021: $49,796,724Net Assets 2021: $46,075,4742021Assets 2022: $99,593,802Liabilities 2022: $51,623,892Net Assets 2022: $47,969,9102022Assets 2023: $98,443,315Liabilities 2023: $46,952,535Net Assets 2023: $51,490,7802023Assets 2024: $94,543,444Liabilities 2024: $38,052,506Net Assets 2024: $56,490,9382024Assets 2025: $95,921,689Liabilities 2025: $32,476,137Net Assets 2025: $63,445,5522025

Highlighted filing

2017

Assets$95,409,346
Liabilities$62,764,432
Net Assets$32,644,914

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0Expenses 2011: $7,756,7632011Expenses 2012: $5,821,2162012Revenue 2013: $6,707,463Expenses 2013: $4,914,081Net Income 2013: $1,793,3822013Revenue 2014: $6,460,794Expenses 2014: $4,599,844Net Income 2014: $1,860,9502014Revenue 2015: $7,563,655Expenses 2015: $5,582,246Net Income 2015: $1,981,4092015Revenue 2016: $8,380,879Expenses 2016: $6,405,092Net Income 2016: $1,975,7872016Revenue 2017: $8,726,249Expenses 2017: $6,629,241Net Income 2017: $2,097,0082017Revenue 2018: $9,026,883Expenses 2018: $6,642,221Net Income 2018: $2,384,6622018Revenue 2019: $9,162,429Expenses 2019: $6,732,860Net Income 2019: $2,429,5692019Revenue 2020: $8,941,579Expenses 2020: $6,294,076Net Income 2020: $2,647,5032020Revenue 2021: $7,982,693Expenses 2021: $5,887,651Net Income 2021: $2,095,0422021Revenue 2022: $9,483,023Expenses 2022: $6,417,427Net Income 2022: $3,065,5962022Revenue 2023: $10,248,910Expenses 2023: $7,516,351Net Income 2023: $2,732,5592023Revenue 2024: $10,829,382Expenses 2024: $8,240,645Net Income 2024: $2,588,7372024Revenue 2025: $12,945,192Expenses 2025: $7,708,691Net Income 2025: $5,236,5012025

Highlighted filing

2017

Revenue$8,726,249
Expenses$6,629,241
Net Income$2,097,008
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$8,726,249
Mission and Program Overview

Mission

The foundation was founded for the purpose of accepting, acquiring, leasing, selling or disposing, operating and/or managing property for the exclusive benefit of virginia commonwealth university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$74,135,885$76,160,068▲ $2,024,183
Savings and Temporary Cash Investments$8,576,780$11,078,402▲ $2,501,622
Investments Other Securities$7,084,639$7,629,214▲ $544,575
Accounts Receivable$193,877$183,796▼ $10,081
Total Assets$93,786,369$95,409,346▲ $1,622,977
Other Assets Total$3,795,188$357,866▼ $3,437,322
Liabilities
Tax Exempt Bond Liabilities$44,145,005$41,627,250▼ $2,517,755
Mortgage Notes Payable Secured by Investment Property$9,770,222$12,007,107▲ $2,236,885
Deferred Revenue$5,253,386$4,980,796▼ $272,590
Other Liabilities$4,052,955$3,840,542▼ $212,413
Accounts Payable and Accrued Expenses$550,028$308,737▼ $241,291
Total Liabilities$63,771,596$62,764,432▼ $1,007,164
Net Assets / Fund Balance
Unrestricted Net Assets$30,014,773$32,644,914▲ $2,630,141
Total Net Assets Fund Balance$30,014,773$32,644,914▲ $2,630,141
Total Liabilities and Net Assets / Fund Balance$93,786,369$95,409,346▲ $1,622,977

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$50,235,188$17,896,528$68,131,716
Other Land Buildings$13,674,845$1,286$13,676,131
Land$11,242,276-$11,242,276
Equipment$1,007,759$2,176,343$3,184,102
Other Securities$7,580,318--
Closely Held Equity Interests$48,896--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Mitzi M LeeSecretaryPT$127,417$127,417

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Jmj Workplace InteriorsGeneral Contracting7910 W BROAD STREET, Henrico, VA 23294$674,132
Kjellstrom & Lee INCGeneral Contracting1607 OWNBY LANE, Richmond, VA 23220$389,508
The Trent CorporationGeneral Contracting1840 W BROAD STREET, Richmond, VA 23220$353,327
Dynamic Systems IntegrationGeneral Contracting572 CENTRAL DRIVE SUITE 104, Virginia Beach, VA 23454$162,161
Hourigan Construction CorpGeneral Contracting4429 BONNEY ROAD SUITE 200, Virginia Beach, VA 23462$101,244
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,661,683
Investment Income
$53,124
Other Revenue
$11,442
Change in Net Assets
$2,097,008
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,597,241
Grants and Similar Amounts Paid$32,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$2,862,675--$2,862,675
Interest$1,658,580--$1,658,580
Occupancy$1,491,909--$1,491,909
Fees for Services Management$366,900--$366,900
Insurance$47,722--$47,722
Fees for Services Legal$41,091--$41,091
Grants to Domestic Orgs$32,000--$32,000
Other Expenses$23,563--$23,563
Fees for Services Accounting$21,700--$21,700
Fees for Services Other$8,900--$8,900
Total Functional Expenses$6,629,241$0$0$6,629,241
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Virginia Commonwealth UniversityRichmond, VA115ASSISTANCE IS PROVIDED TO SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF REAL ESTATE USED IN THE UNIVERSITY'S EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES.$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
Due to Vcu - 2013 C Series Bonds$2,138,102
Bond Premium, Net of Accumulated Amortization$1,702,440

Bond Issues

BondIssuerIssuedIssue PricePurpose
AVirginia Commonwealth University2013-02-08$22,289,949To refinance cost of construction - see attached for additional information
BVirginia Commonwealth University2013-06-06$15,932,000To finance project costs of 912 west grace st. And 801 west marshall st.
CVirginia Commonwealth University2015-12-18$12,879,000To finance and refinance costs - see attached for additional information

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$22,289,949$16,220,674$3,345,000$261,206
B$15,956,823$6,041,429$2,437,223$63,596
C$12,882,202-$1,137,212$108,126

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
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
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, Part VI, Section B, Line 11B

The organization distributes a copy of the form 990 to all members of the audit committee prior to the form being filed.

Form 990, Part VI, Section B, Line 12C

The organization monitors and enforces the conflict of interest policy by having the officers, directors and trustees sign the conflict of interest policy and disclose any conflicts, in writing, on an annual basis.

Form 990, Part VI, Section C, Line 19

The organization posts its current audited financial statement and form 990 on its web site, each year. In addition, copies of the audited financial statements are distributed to all directors. It is the policy of the organization to make available copies of financial statements, governing documents and conflict of interest information and other documents to the public.

Filing and Contact Details

Filer

Filer Name
Virginia Commonwealth University Real
EIN
54-1666531
Phone
8048289292
Address
PO BOX 843075, RICHMOND, VA 23284-3075

Signing Officer

Name
Timothy a Graf
Title
Treasurer
Phone
8048289292
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy a Graf
Formed
1992
Legal Domicile
Va
Voting Board Members
15
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Mitchell Wiggins & Company Llp
Address
1802 BAYBERRY COURT SUITE 300, RICHMOND, VA 23226
Preparer
M James Hartson Jr CPA
Phone
8042826000
Supplemental Narrative

Additional Explanations

Form 990 Part XII - Line 2(C)

The oversight process has not changed from the previous year.

Financial Statement Notes

PART X, LINE 2:

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code (irc). However, income from certain activities not directly related to each entity's tax-exempt purpose may be subject to taxation as unrelated business income. The foundation had no unrelated business income during the years ended june 30, 2017 and 2016. The organizations have determined that they do not have any material unrecognized tax benefits or obligations at june 30, 2017. The organizations include penalties and interest assessed by income taxing authorities in operating expenses, if applicable. The organizations did not incur any penalties or interest expense for the year ended june 30, 2017.

Raw XML AppendixShowing 400 of 786 raw XML fields

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/PersonNm14F DAVIS DRUMHELLER JR
IRS990/Form990PartVIISectionAGrp/PersonNm15MITZI M LEE
IRS990/Form990PartVIISectionAGrp/PersonNm16TIMOTHY A GRAF
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10703747
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1598532
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt16151508
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10EX-OFFICIO DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt16TREASURER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01992
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GrantAmt032000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt032000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt032000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt08726249
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt014
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt047722
IRS990/InsuranceGrp/TotalAmt047722
IRS990/InterestGrp/ProgramServicesAmt01658580
IRS990/InterestGrp/TotalAmt01658580
IRS990/InvestmentIncomeGrp/ExclusionAmt053124
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt053124
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt07084639
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt07629214
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt09
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt020074157
IRS990/LandBldgEquipBasisNetGrp/BOYAmt074135885
IRS990/LandBldgEquipBasisNetGrp/EOYAmt076160068
IRS990/LandBldgEquipCostOrOtherBssAmt096234225
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt09770222
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt012007107
IRS990/NetAssetsOrFundBalancesBOYAmt030014773
IRS990/NetAssetsOrFundBalancesEOYAmt032644914
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0533133
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt01491909
IRS990/OccupancyGrp/TotalAmt01491909
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03795188
IRS990/OtherAssetsTotalGrp/EOYAmt0357866
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1PLANNING AND DEVELOPMEN
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/ProgramServicesAmt041455
IRS990/OtherExpensesGrp/ProgramServicesAmt132746
IRS990/OtherExpensesGrp/ProgramServicesAmt223563
IRS990/OtherExpensesGrp/TotalAmt041455
IRS990/OtherExpensesGrp/TotalAmt132746
IRS990/OtherExpensesGrp/TotalAmt223563
IRS990/OtherLiabilitiesGrp/BOYAmt04052955
IRS990/OtherLiabilitiesGrp/EOYAmt03840542
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0GAIN FROM PASSTHROUGH
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt011442
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt011442
IRS990/OtherRevenueTotalAmt011442
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0TIMOTHY A GRAF
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531190
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt08661683
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt08661683
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt083000
IRS990/PYInvestmentIncomeAmt015146
IRS990/PYOtherExpensesAmt06322092
IRS990/PYOtherRevenueAmt0199072
IRS990/PYProgramServiceRevenueAmt08166661
IRS990/PYRevenuesLessExpensesAmt01975787
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt06405092
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08380879
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02097008
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt08673125
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08576780
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011078402
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY WHICH IS A PUBLIC RESEARCH UNIVERSITY IN THE COMMONWEALTH OF VIRGINIA. THE FOUNDATION ENGAGES IN THESE ACTIVITIES AT THE REQUEST OF THE UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE SUPPORTED ORGANIZATION, VIRGINIA COMMONWEALTH UNIVERSITY, HAS TWO MEMBERS OF ITS OWN GOVERNING BODY SERVING AS DIRECTORS ON THE BOARD OF THE VCU REAL ESTATE FOUNDATION. IN ADDITION, THE PRESIDENT OF THE UNIVERSITY IS AN EX-OFFICIO DIRECTOR ON THE BOARD OF THE VCU REAL ESTATE FOUNDATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2GIFTS TOTALING $1,000 WERE MADE TO VIRGINIA UNION UNIVERSITY AND VCU FOUNDATION IN MEMORY OF MR. CLARENCE TOWNES, JR., WHO WAS A FOUNDING MEMBER OF THE VCU REAL ESTATE FOUNDATION WHO SERVED ON THE BOARD FOR MORE THAN 20 YEARS. A GIFT FOR $1,000 WAS MADE TO THE VCU SCHOOL OF BUSINESS FOUNDATION IN HONOR OF MR. DAVIS DRUMHELLER'S 12 YEARS OF SERVICE AS A VCU REAL ESTATE FOUNDATION BOARD MEMBER
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 1C:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION D, LINE 3:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION A, LINE 6:
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0546001758
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt030000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0VIRGINIA COMMONWEALTH UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt030000
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt050235188
IRS990ScheduleD/BuildingsGrp/DepreciationAmt017896528
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt068131716
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt048896
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd0C
IRS990ScheduleD/EquipmentGrp/BookValueAmt01007759
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02176343

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$95.9$32.5$63.4$12.9$7.71$5.24
2024Detailed filing. Detailed filing data is available for this year.$94.5$38.1$56.5$10.8$8.24$2.59
2023Detailed filing. Detailed filing data is available for this year.$98.4$47.0$51.5$10.2$7.52$2.73
2022Detailed filing. Detailed filing data is available for this year.$99.6$51.6$48.0$9.48$6.42$3.07
2021Detailed filing. Detailed filing data is available for this year.$95.9$49.8$46.1$7.98$5.89$2.10
2020Detailed filing. Detailed filing data is available for this year.$91.8$50.6$41.1$8.94$6.29$2.65
2019Detailed filing. Detailed filing data is available for this year.$93.1$55.2$37.9$9.16$6.73$2.43
2018Detailed filing. Detailed filing data is available for this year.$93.5$58.3$35.3$9.03$6.64$2.38
2017Detailed filing. Detailed filing data is available for this year.$95.4$62.8$32.6$8.73$6.63$2.10
2016Detailed filing. Detailed filing data is available for this year.$93.8$63.8$30.0$8.38$6.41$1.98
2015Detailed filing. Detailed filing data is available for this year.$81.7$53.5$28.3$7.56$5.58$1.98
2014Detailed filing. Detailed filing data is available for this year.$80.2$54.0$26.2$6.46$4.60$1.86
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.3$50.4$24.9$6.71$4.91$1.79
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$51.2$28.2$23.1$5.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.0$50.1$19.8$7.76