Civic Intelligence

Christopher Newport University Real Estate Foundation Inc.

990 • Fiscal year 2019 • EIN 54-1863192

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 07, 2019

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.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

37.17x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

58th percentile

6.2%

Higher net margin than 58% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

78th percentile

$940,341

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 35.7% of source-year revenue.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

16th percentile

-2.6%

Faster asset growth than 16% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

-2.5%

Faster revenue growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$105,277,306

Down $2,778,344 (-2.6%) from 2018

Net Assets

Up

$7,365,712

Up $687,500 (+10%) from 2018

Liabilities

Down

$97,911,594

Down $3,465,844 (-3.4%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin58th percentile

Revenue

Down

$2,634,280

Down $68,610 (-2.5%) from 2018

Expenses

Down

$2,471,213

Down $216,659 (-8.1%) from 2018

Net Income

Up

$163,067

Up $148,049 (+986%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2019

Assets$105,277,306
Liabilities$97,911,594
Net Assets$7,365,712
Open 2019 Filing

Operations Trend

Revenue Growth29th 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

2019

Revenue$2,634,280
Expenses$2,471,213
Net Income$163,067
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 7, 2019
Return Version
2018v3.1
Gross Receipts
$11,873,217
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$104,091,871$99,760,086▼ $4,331,785
Pledges and Grants Receivable-$1,100,000-
Cash and Non-Interest-Bearing Accounts$892,549$1,009,794▲ $117,245
Accounts Receivable$750,280$786,831▲ $36,551
Savings and Temporary Cash Investments$121--
Total Assets$108,055,650$105,277,306▼ $2,778,344
Other Assets Total$2,320,829$2,620,595▲ $299,766
Liabilities
Tax Exempt Bond Liabilities$70,264,049$67,287,133▼ $2,976,916
Mortgage Notes Payable Secured by Investment Property$30,168,203$29,723,617▼ $444,586
Accounts Payable and Accrued Expenses$219,448$508,659▲ $289,211
Other Liabilities$725,738$392,185▼ $333,553
Total Liabilities$101,377,438$97,911,594▼ $3,465,844
Net Assets / Fund Balance
Unrestricted Net Assets$6,678,212$7,365,712▲ $687,500
Total Net Assets Fund Balance$6,678,212$7,365,712▲ $687,500
Total Liabilities and Net Assets / Fund Balance$108,055,650$105,277,306▼ $2,778,344

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$79,066,919$31,108,221-
Other Land Buildings$1,549,481$80,686-
Land$18,859,375--
Equipment$284,311$2,020,801-
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul S TribleBoard MemberPT$477,000$463,341$477,000
K Spencer McdonaldController & TreasurerPT-$121,639$121,639

Board Members and Trustees

NameTitle
Michael C MartinPresident
M Clark BaldwinVice President
Adelia P ThompsonBoard Member
Ann HunnicutBoard Member
C Bradford HunterBoard Member
James M HaggardBoard Member
Steven a MeadeBoard Member
W Bruce JenningsBoard Member
William P Heath JrBoard Member
Douglas L HornsbyChief Executive Officer
William L BrauerSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Glave & Holmes ArchitectureArchitectural Services2110 E MAIN ST, Richmond, VA 23223$591,591
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-395,463
Other Revenue
$3,029,743
Change in Net Assets
$163,067

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,634,280
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$10,030,543
Total Revenue per Audited Statements
$12,664,823
Total Revenue per Form 990
$2,634,280
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,729,053
Salaries, Compensation, and Employee Benefits$529,512
Other Expenses$212,648
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,729,053--$1,729,053
Current Officers, Directors, Trustees, and Key Employees-$511,512-$511,512
Fees for Services Management-$114,000-$114,000
Fees for Services Legal-$32,823-$32,823
Fees for Services Accounting-$30,000-$30,000
Office Expenses-$21,219-$21,219
Payroll Taxes-$18,000-$18,000
Conferences and Meetings-$8,010-$8,010
Other Expenses-$90-$90
Travel-$11-$11
Total Functional Expenses$1,729,053$742,160$0$2,471,213

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,045,099
Expenses Not Reported on Form 990$9,582,110
Total Expenses per Form 990$2,471,213
Expenses per Audited Statements$2,462,989
Expenses Not Reported on Financial Statements$8,224
Other Expense Adjustments$8,224
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Christopher Newport UniversityNewport News, VA115Educational$1,729,053
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
Deferred Compensation$212,052
Security Deposits$119,895
Rents Paid in Advance$34,759
Due to Real Estate Foundation$25,479

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-$9,152,535$280,000
D$26,900,000-$8,750,000$1,249,755
B$10,000,000-$4,612,125$225,559
A$8,000,000-$5,585,881$78,856
A$6,886,000-$758,500$118,558
C$5,500,000-$2,429,826$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
No
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
2019-11-07
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
3
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 9:

“Impairment loss -322,614. Transfer from affiliate 76,000. Provision for income taxes 383,000.”

FORM 990, PART XII, 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. The organizations are subject to tax on debt financed rental income and alternative investments. Taxes of this nature paid during the years ended june 30, 2019 and 2018 were $0 and $28,061, respectively. There was no tax liability as of june 30, 2019 and 2018. 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, 2019 and 2018. 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 8,843,335. Uncollectible rents 20,559. Loss on sale of asset 395,602. Provision for income taxes 383,000.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses 8,843,335. Uncollectible rents 20,559. Loss on sale of asset 395,602. Impairment loss 322,614.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Income tax payments 8,224.”

Raw XML AppendixShowing 400 of 1,113 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/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10477000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt0239989
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt5225450
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10439119
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11109413
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt12198117
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CONTROLLER & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF EXECUTIVE OFFICER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01997
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-395602
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GrantAmt01729053
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01729053
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01729053
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt011873217
IRS990/GrossRentsGrp/RealAmt011790372
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt0139
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0139
IRS990/InvestmentInJointVentureInd00
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt09
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt033209708
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0104091871
IRS990/LandBldgEquipBasisNetGrp/EOYAmt099760086
IRS990/LandBldgEquipCostOrOtherBssAmt0132969794
IRS990/LegalDomicileStateCd0VA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0395602
IRS990/LessRentalExpensesGrp/RealAmt08843335
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/BOYAmt030168203
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt029723617
IRS990/NetAssetsOrFundBalancesBOYAmt06678212
IRS990/NetAssetsOrFundBalancesEOYAmt07365712
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-395602
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-395602
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt02764903
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02947037
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt0182134
IRS990/NetUnrelatedBusTxblIncmAmt0168482
IRS990/NetUnrlzdGainsLossesInvstAmt0388047
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt021219
IRS990/OfficeExpensesGrp/TotalAmt021219
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02320829
IRS990/OtherAssetsTotalGrp/EOYAmt02620595
IRS990/OtherChangesInNetAssetsAmt0136386
IRS990/OtherExpensesGrp/Desc0UNRELATED BUSINESS INCO
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2BENEVOLENT EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05315
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11180
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt290
IRS990/OtherExpensesGrp/TotalAmt05315
IRS990/OtherExpensesGrp/TotalAmt11180
IRS990/OtherExpensesGrp/TotalAmt290
IRS990/OtherLiabilitiesGrp/BOYAmt0725738
IRS990/OtherLiabilitiesGrp/EOYAmt0392185
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0WESTMORELAND MARINA
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01433
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt081273
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt11433
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt081273
IRS990/OtherRevenueTotalAmt082706
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt018000
IRS990/PayrollTaxesGrp/TotalAmt018000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01100000
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0SPENCER MCDONALD
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01938250
IRS990/PYInvestmentIncomeAmt0-105449
IRS990/PYOtherExpensesAmt0228455
IRS990/PYOtherRevenueAmt02808339
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt015018
IRS990/PYSalariesCompEmpBnftPaidAmt0521167
IRS990/PYTotalExpensesAmt02687872
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02702890
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0163067
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt02947037
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02766336
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0121
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/SupportAmt01729053
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CHRISTOPHER NEWPORT UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt01729053
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt079066919
IRS990ScheduleD/BuildingsGrp/DepreciationAmt031108221
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0110175140
IRS990ScheduleD/EquipmentGrp/BookValueAmt0284311
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02020801
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt02305112
IRS990ScheduleD/ExpensesNotReportedAmt09582110
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt08224
IRS990ScheduleD/ExpensesSubtotalAmt02462989
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt018859375
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt018859375
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0388047
IRS990ScheduleD/OtherExpensesIncludedAmt09582110
IRS990ScheduleD/OtherExpensesNotIncludedAmt08224
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01549481
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt080686
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01630167
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0212052
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1119895
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt234759
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt325479
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED COMPENSATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2RENTS PAID IN ADVANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO REAL ESTATE FOUNDATION
IRS990ScheduleD/OtherRevenueAmt09642496
IRS990ScheduleD/RevenueNotReportedAmt010030543
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02634280
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. THE ORGANIZATIONS ARE SUBJECT TO TAX ON DEBT FINANCED RENTAL INCOME AND ALTERNATIVE INVESTMENTS. TAXES OF THIS NATURE PAID DURING THE YEARS ENDED JUNE 30, 2019 AND 2018 WERE $0 AND $28,061, RESPECTIVELY. THERE WAS NO TAX LIABILITY AS OF JUNE 30, 2019 AND 2018. 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, 2019 AND 2018. 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 8,843,335. UNCOLLECTIBLE RENTS 20,559. LOSS ON SALE OF ASSET 395,602. PROVISION FOR INCOME TAXES 383,000.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES 8,843,335. UNCOLLECTIBLE RENTS 20,559. LOSS ON SALE OF ASSET 395,602. IMPAIRMENT LOSS 322,614.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3INCOME TAX PAYMENTS 8,224.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt099760086
IRS990ScheduleD/TotalExpensesPerForm990Amt02471213
IRS990ScheduleD/TotalLiabilityAmt0392185
IRS990ScheduleD/TotalRevenuePerForm990Amt02634280
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012664823
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012045099
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt01729053

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$105,277,306
Liabilities
$97,911,594
Net assets
$7,365,712
Revenue
$2,634,280
Expenses
$2,471,213
Net income
$163,067
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