Civic Intelligence

Christopher Newport University Real Estate Foundation Inc.

990 • Fiscal year 2017 • EIN 54-1863192

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 13, 2017

Organization ProfileEXPLORE.CNU.EDU
One University PlaceNewport News, VA 23606-2998

(757) 594-7941

Siviq Scores

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

Liabilities / Assets

88th percentile

0.93x

Higher debt load relative to assets than 88% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

16.81x

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

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

95th percentile

62%

Higher net margin than 95% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

75th percentile

$875,251

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 14.2% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

21st percentile

-0.5%

Faster asset growth than 21% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

96th percentile

124%

Faster revenue growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$111,551,371

Down $542,008 (-0.5%) from 2016

Net Assets

Up

$7,594,162

Up $4,760,365 (+168%) from 2016

Liabilities

Down

$103,957,209

Down $5,302,373 (-4.9%) from 2016

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin95th percentile

Revenue

Up

$6,183,682

Up $3,422,647 (+124%) from 2016

Expenses

Up

$2,358,782

Up $148,641 (+6.7%) from 2016

Net Income

Up

$3,824,900

Up $3,274,006 (+594%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$150M$100M$50M$0-$50MAssets 2010: $60,801,211Liabilities 2010: $65,598,818Net Assets 2010: -$4,797,6072010Assets 2011: $55,211,446Liabilities 2011: $59,258,072Net Assets 2011: -$4,046,6262011Assets 2012: $59,208,142Liabilities 2012: $64,955,440Net Assets 2012: -$5,747,2982012Assets 2013: $88,820,985Liabilities 2013: $92,559,074Net Assets 2013: -$3,738,0892013Assets 2014: $114,946,716Liabilities 2014: $113,739,243Net Assets 2014: $1,207,4732014Assets 2015: $113,962,241Liabilities 2015: $112,038,811Net Assets 2015: $1,923,4302015Assets 2016: $112,093,379Liabilities 2016: $109,259,582Net Assets 2016: $2,833,7972016Assets 2017: $111,551,371Liabilities 2017: $103,957,209Net Assets 2017: $7,594,1622017Assets 2018: $108,055,650Liabilities 2018: $101,377,438Net Assets 2018: $6,678,2122018Assets 2019: $105,277,306Liabilities 2019: $97,911,594Net Assets 2019: $7,365,7122019Assets 2020: $117,249,922Liabilities 2020: $108,967,013Net Assets 2020: $8,282,9092020Assets 2021: $114,865,272Liabilities 2021: $105,617,497Net Assets 2021: $9,247,7752021Assets 2022: $113,342,924Liabilities 2022: $103,206,373Net Assets 2022: $10,136,5512022Assets 2023: $122,142,733Liabilities 2023: $111,580,357Net Assets 2023: $10,562,3762023Assets 2024: $121,335,730Liabilities 2024: $110,781,762Net Assets 2024: $10,553,9682024Assets 2025: $118,197,440Liabilities 2025: $107,309,255Net Assets 2025: $10,888,1852025

Highlighted filing

2017

Assets$111,551,371
Liabilities$103,957,209
Net Assets$7,594,162
Open 2017 Filing

Operations Trend

Revenue Growth96th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,557,6342010Expenses 2011: $1,242,3712011Expenses 2012: $1,622,8402012Expenses 2013: $2,223,9122013Revenue 2014: $6,686,805Expenses 2014: $2,354,261Net Income 2014: $4,332,5442014Revenue 2015: $2,421,262Expenses 2015: $2,126,979Net Income 2015: $294,2832015Revenue 2016: $2,761,035Expenses 2016: $2,210,141Net Income 2016: $550,8942016Revenue 2017: $6,183,682Expenses 2017: $2,358,782Net Income 2017: $3,824,9002017Revenue 2018: $2,702,890Expenses 2018: $2,687,872Net Income 2018: $15,0182018Revenue 2019: $2,634,280Expenses 2019: $2,471,213Net Income 2019: $163,0672019Revenue 2020: $3,160,598Expenses 2020: $2,556,932Net Income 2020: $603,6662020Revenue 2021: $4,260,889Expenses 2021: $3,355,323Net Income 2021: $905,5662021Revenue 2022: $4,470,833Expenses 2022: $3,549,157Net Income 2022: $921,6762022Revenue 2023: $4,121,962Expenses 2023: $3,847,537Net Income 2023: $274,4252023Revenue 2024: $3,844,351Expenses 2024: $4,063,459Net Income 2024: -$219,1082024Revenue 2025: $4,121,211Expenses 2025: $3,510,794Net Income 2025: $610,4172025

Highlighted filing

2017

Revenue$6,183,682
Expenses$2,358,782
Net Income$3,824,900
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$14,722,960
Mission and Program Overview

Mission

To receive, administer and distribute funds and property exclusively in furtherance of the educational activities and objectives of the christopher newport university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$106,420,986$107,114,405▲ $693,419
Accounts Receivable$759,718$734,478▼ $25,240
Cash and Non-Interest-Bearing Accounts$949,774$674,852▼ $274,922
Savings and Temporary Cash Investments$764,300$61,757▼ $702,543
Prepaid Expenses and Deferred Charges$8,986$21,059▲ $12,073
Total Assets$112,093,379$111,551,371▼ $542,008
Other Assets Total$3,189,615$2,944,820▼ $244,795
Liabilities
Tax Exempt Bond Liabilities$77,475,901$73,819,878▼ $3,656,023
Mortgage Notes Payable Secured by Investment Property$28,718,544$28,390,222▼ $328,322
Other Liabilities$2,475,489$1,430,726▼ $1,044,763
Accounts Payable and Accrued Expenses$589,648$316,383▼ $273,265
Total Liabilities$109,259,582$103,957,209▼ $5,302,373
Net Assets / Fund Balance
Unrestricted Net Assets$2,833,797$7,594,162▲ $4,760,365
Total Net Assets Fund Balance$2,833,797$7,594,162▲ $4,760,365
Total Liabilities and Net Assets / Fund Balance$112,093,379$111,551,371▼ $542,008

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$85,320,615$24,994,421-
Other Land Buildings$1,069,436$29,619-
Land$19,863,100--
Equipment$861,254$1,497,078-
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul S TribleBoard MemberPT$233,668$200,000$433,668
K Spencer McdonaldController & TreasurerPT-$115,836$115,836

Board Members and Trustees

NameTitle
Robert R BrownPresident
James R JosephVice President
Adelia P ThompsonBoard Member
Ann HunnicutBoard Member
C Bradford HunterBoard Member
James M HaggardBoard Member
Michael C MartinBoard Member
W Bruce JenningsBoard Member
William P Heath JrBoard Member
Douglas L HornsbyChief Executive Officer
William L BrauerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$3,300,000
Program Service Revenue
$0
Investment Income
$60,171
Other Revenue
$2,823,511
All Other Contributions
$3,300,000
Change in Net Assets
$3,824,900

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$3,300,000Appraisal
Total Noncash Contributions1$3,300,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,183,682
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$9,416,913
Total Revenue per Audited Statements
$15,600,595
Total Revenue per Form 990
$6,183,682
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,698,341
Salaries, Compensation, and Employee Benefits$437,659
Other Expenses$222,782
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,698,341--$1,698,341
Current Officers, Directors, Trustees, and Key Employees-$422,768-$422,768
Fees for Services Management-$114,810-$114,810
Fees for Services Accounting-$21,779-$21,779
Office Expenses-$21,662-$21,662
Payroll Taxes-$14,891-$14,891
Conferences and Meetings-$2,865-$2,865
Fees for Services Legal-$2,505-$2,505
Travel-$1,176-$1,176
Other Expenses-$694-$694
All Other Expenses-$343-$343
Total Functional Expenses$1,698,341$660,441$0$2,358,782

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$10,840,230
Expenses Not Reported on Form 990$8,481,448
Expenses per Audited Statements$2,358,782
Total Expenses per Form 990$2,358,782
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Christopher Newport UniversityNewport News, VA115Educational$1,698,341
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Vendor and Board MemberProperty Management Services With Robert Brown and Associates Inc. Where Robert Brown Is an Owner.No$131,488
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fair Value of Hedge$1,047,369
Deferred Compensation$316,736
Security Deposits$48,268
Rents Paid in Advance$18,353

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIndustrial Development Authority of the City of Newport News Virginia2013-12-18$41,290,000To finance acquisition of properties deemed essential for expansion
DIndustrial Development Authority of the City of Newport News Va2004-07-01$26,900,000To finance acquisition of properties deemed essential for expansion
AEconomic Development Authority of the County of James City Va2001-03-01$8,000,000To finance acquisition of properties deemed essential for expansion
BEconomic Development Authority of the City of Poquoson2001-11-01$7,474,590To finance acquisition of properties deemed essential for expansion
AIndustrial Development Authority of the City of Newport News Va2015-06-23$6,886,000REFINANCE INDEBTEDNESS
CEconomic Development Authority of Richmond County Va2002-07-01$4,259,290To finance acquisition of properties deemed essential for expansion

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$41,290,000-$6,661,722$280,000
D$26,900,000-$6,495,000$1,249,755
B$10,000,000-$3,864,645$225,559
A$8,000,000-$5,441,881$78,856
A$6,886,000-$289,000$118,558
C$5,500,000-$2,003,874$109,335

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
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
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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

“Each member of the board received a pdf copy of the tax return through e-mail.”

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

“Annually, directors must disclose interest that could give rise to conflict. If a conflict arises, it is documented in the minutes and any vote requires abstinence of the affected board member.”

Form 990, Part VI, Section B, Line 15A

“The compensation committee meets and an agreement is drafted by an attorney. The organization receives a compensation opinion from a professional company. The agreement is then ratified by the full board.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are not made available to the public.”

Filing and Contact Details

Filer

Filer Name
Christopher Newport University
EIN
54-1863192
Phone
7575947941
Address
ONE UNIVERSITY PLACE, NEWPORT NEWS, VA 23606-2998

Signing Officer

Name
Spencer Mcdonald
Title
Controller
Phone
7575947941
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Spencer Mcdonald
Formed
1997
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
8
Employees
1
Volunteers
8

Preparer

Firm
Pbmares Llp
Address
701 TOWN CENTER DRIVE SUITE 900, NEWPORT NEWS, VA 23606
Preparer
Jennifer N French
Phone
7578731587
Supplemental Narrative

Additional Explanations

Form 990 Part XI, Line 2C

“The audit committee meets at least once a year. Annually, the independent auditors present the audited financial statements and management report to the audit committee. This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The christopher newport university education foundation and real estate foundations are each not-for-profit organizations that are exempt from income taxes under section 501(c)(3) of the internal revenue code, except for income from unrelated business income. During the year ended june 30, 2017, quarterly estimated taxes were paid. Unrelated business income tax liability as of june 30, 2017 and 2016 was approximately $0 and $2,603, respectively. Neither of the organizations have been classified as a private foundation. Fasb asc 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The organizations' management has evaluated the impact of the standard to its financial statements. Management is not aware of any material uncertain tax positions, and has not accrued the effect of any uncertain tax positions as of june 30, 2017 and 2016. The organizations' income tax returns are subject to examination by taxing authorities, generally for a period of three years from the date they were filed. The organizations recognize interest and penalties incurred, if any, related to income tax positions as other interest expense and penalties expense, respectively.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses 8,480,825. Uncollectible rents 623.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses 8,480,825. Uncollectible rents 623.”

Raw XML AppendixShowing 400 of 1,143 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/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt2206714
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt8215408
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11105578
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt12188885
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CONTROLLER & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF EXECUTIVE OFFICER
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IRS990/Form990TFiledInd01
IRS990/FormationYr01997
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt058454
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GrantAmt01698341
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01698341
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01698341
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0116908
IRS990/GrossReceiptsAmt014722960
IRS990/GrossRentsGrp/RealAmt011291346
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt01717
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01717
IRS990/InvestmentInJointVentureInd00
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt07
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt026521118
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0106420986
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0107114405
IRS990/LandBldgEquipCostOrOtherBssAmt0133635523
IRS990/LegalDomicileStateCd0VA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt058454
IRS990/LessRentalExpensesGrp/RealAmt08480824
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE CHRISTOPHER NEWPORT UNIVERSITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt028718544
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt028390222
IRS990/NetAssetsOrFundBalancesBOYAmt02833797
IRS990/NetAssetsOrFundBalancesEOYAmt07594162
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt058454
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt058454
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt02662664
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02810522
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0147858
IRS990/NetUnrelatedBusTxblIncmAmt0121356
IRS990/NetUnrlzdGainsLossesInvstAmt0935465
IRS990/NoncashContributionsAmt03300000
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt021662
IRS990/OfficeExpensesGrp/TotalAmt021662
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03189615
IRS990/OtherAssetsTotalGrp/EOYAmt02944820
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0UNRELATED BUSINESS INCO
IRS990/OtherExpensesGrp/Desc1MISC ADJUSTMENTS
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3MEALS AND ENTERTAINMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt032201
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt123862
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2885
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3694
IRS990/OtherExpensesGrp/TotalAmt032201
IRS990/OtherExpensesGrp/TotalAmt123862
IRS990/OtherExpensesGrp/TotalAmt2885
IRS990/OtherExpensesGrp/TotalAmt3694
IRS990/OtherLiabilitiesGrp/BOYAmt02475489
IRS990/OtherLiabilitiesGrp/EOYAmt01430726
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0WESTMORELAND MARINA
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt015
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt012974
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt115
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt012974
IRS990/OtherRevenueTotalAmt012989
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014891
IRS990/PayrollTaxesGrp/TotalAmt014891
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08986
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt021059
IRS990/PrincipalOfficerNm0SPENCER MCDONALD
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt030000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01633904
IRS990/PYInvestmentIncomeAmt02617
IRS990/PYOtherExpensesAmt0146629
IRS990/PYOtherRevenueAmt02728418
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0550894
IRS990/PYSalariesCompEmpBnftPaidAmt0429608
IRS990/PYTotalExpensesAmt02210141
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02761035
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt03824900
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt02810522
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02656791
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0764300
IRS990/SavingsAndTempCashInvstGrp/EOYAmt061757
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/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE CNU REAL ESTATE FOUNDATION IS A NONPROFIT CORPORATION WHICH FUNCTIONS AS A CHARITABLE FOUNDATION TO ASSIST, SUPPORT AND FOSTER THE MISSION OF CHRISTOPHER NEWPORT UNIVERSITY. THE REAL ESTATE FOUNDATION ACCOMPLISHED THIS MISSION BY: - PROVIDING THE UNIVERSITY WITH GUIDANCE AND DECISION-MAKING INFORMATION IN THE MATTERS OF REAL ESTATE AND REAL ESTATE VALUE AND ACQUISITION; - FUNCTIONING AS A HOLDING COMPANY AND MANAGER OF NON-CAMPUS PROPERTIES; - ADVISING CNU LEADERSHIP IN THE SECURING OF REAL ESTATE FOR INVESTMENT PURPOSES AND; - PROVIDING DIRECT SUPPORT TO THE UNIVERSITY TO ASSIST IN ITS OPERATIONS; - PROVIDING REAL ESTATE INFORMATION IN SUPPORT OF THE GROWTH AND GROWTH MANAGEMENT STRATEGIES OF THE UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1AS CHRISTOPHER NEWPORT UNIVERSITY CONTINUES TO GROW REAL ESTATE ACQUISITION AND MANAGEMENT WILL CONTINUE TO BE AND IMPORTANT ROLE OF CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION E, LINE 2A
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SCHEDULE A, PART IV, SECTION E, LINE 2B
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0540701501
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt01698341
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CHRISTOPHER NEWPORT UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt01698341
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt085320615
IRS990ScheduleD/BuildingsGrp/DepreciationAmt024994421
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0110315036
IRS990ScheduleD/EquipmentGrp/BookValueAmt0861254
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01497078
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt02358332
IRS990ScheduleD/ExpensesNotReportedAmt08481448
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02358782
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt019863100
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt019863100
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0935465
IRS990ScheduleD/OtherExpensesIncludedAmt08481448
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01069436
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt029619
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01099055
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0316736
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11047369
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt248268
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt318353
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED COMPENSATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1FAIR VALUE OF HEDGE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3RENTS PAID IN ADVANCE
IRS990ScheduleD/OtherRevenueAmt08481448
IRS990ScheduleD/RevenueNotReportedAmt09416913
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06183682
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION AND REAL ESTATE FOUNDATIONS ARE EACH NOT-FOR-PROFIT ORGANIZATIONS THAT ARE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME FROM UNRELATED BUSINESS INCOME. DURING THE YEAR ENDED JUNE 30, 2017, QUARTERLY ESTIMATED TAXES WERE PAID. UNRELATED BUSINESS INCOME TAX LIABILITY AS OF JUNE 30, 2017 AND 2016 WAS APPROXIMATELY $0 AND $2,603, RESPECTIVELY. NEITHER OF THE ORGANIZATIONS HAVE BEEN CLASSIFIED AS A PRIVATE FOUNDATION. FASB ASC 740 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATIONS' MANAGEMENT HAS EVALUATED THE IMPACT OF THE STANDARD TO ITS FINANCIAL STATEMENTS. MANAGEMENT IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS, AND HAS NOT ACCRUED THE EFFECT OF ANY UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2017 AND 2016. THE ORGANIZATIONS' INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THEY WERE FILED. THE ORGANIZATIONS RECOGNIZE INTEREST AND PENALTIES INCURRED, IF ANY, RELATED TO INCOME TAX POSITIONS AS OTHER INTEREST EXPENSE AND PENALTIES EXPENSE, RESPECTIVELY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES 8,480,825. UNCOLLECTIBLE RENTS 623.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES 8,480,825. UNCOLLECTIBLE RENTS 623.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$111,551,371
Liabilities
$103,957,209
Net assets
$7,594,162
Revenue
$6,183,682
Expenses
$2,358,782
Net income
$3,824,900
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$118$107$10.9$4.12$3.51$0.61
2024Detailed filing. Detailed filing data is available for this year.$121$111$10.6$3.84$4.06$0.22
2023Detailed filing. Detailed filing data is available for this year.$122$112$10.6$4.12$3.85$0.27
2022Detailed filing. Detailed filing data is available for this year.$113$103$10.1$4.47$3.55$0.92
2021Detailed filing. Detailed filing data is available for this year.$115$106$9.25$4.26$3.36$0.91
2020Detailed filing. Detailed filing data is available for this year.$117$109$8.28$3.16$2.56$0.60
2019Detailed filing. Detailed filing data is available for this year.$105$97.9$7.37$2.63$2.47$0.16
2018Detailed filing. Detailed filing data is available for this year.$108$101$6.68$2.70$2.69$0.02
2017Detailed filing. Detailed filing data is available for this year.$112$104$7.59$6.18$2.36$3.82
2016Detailed filing. Detailed filing data is available for this year.$112$109$2.83$2.76$2.21$0.55
2015Detailed filing. Detailed filing data is available for this year.$114$112$1.92$2.42$2.13$0.29
2014Detailed filing. Detailed filing data is available for this year.$115$114$1.21$6.69$2.35$4.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.8$92.6$3.74$2.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.2$65.0$5.75$1.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.2$59.3$4.05$1.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.8$65.6$4.80$3.56