Longwood University Real Estate Foundation
- Assets
- $322.4m
- Revenue
- $31.9m
- Investments
- $0.0
- Employees
- 11
- Location
- Farmville, VA
- Founding
- 12/2004
- Data as of
- 12/2021
- EIN
- 20-1612906
Organization Overview
Longwood University Real Estate Foundation is located in Farmville, VA. The organization was established in 2004. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2022, Longwood University Real Estate Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Longwood University Real Estate Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Longwood University Real Estate Foundation generated $31.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $30.4m during the year ending 12/2021. While expenses have increased by 15.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FOUNDATION IS TO ACQUIRE, DEVELOP, FINANCE, LEASE, HOLD, OPERATE, MANAGE AND DISPOSE OF REAL PROPERTY ASSETS AND INTERESTS FOR LONGWOOD UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL PROGRAM ACTIVITIES RELATE TO THE ACQUISITION, DEVELOPMENT, FINANCING, LEASING, HOLDING, OPERATING, MANAGEMENT AND DISPOSAL OF REAL PROPERTY ASSETS AND INTERESTS OF LONGWOOD UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louise W Waller Executive Di | OfficerTrustee | 40 | $0 |
Lori Blackwood Executive Di | OfficerTrustee | 40 | $0 |
Troy S Austin Director | Trustee | $0 | |
Debbie D Epperson Director | Trustee | $0 | |
William Fiege Director | Trustee | $0 | |
Courtney Hodges Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Little Diversified Arch Design Architecture | 12/30/17 | $1,886,295 |
Kensington Capital Advisors Advisory | 12/30/17 | $109,410 |
English Construction Construction | 12/30/17 | $1,049,338 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,533,686 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,533,686 |
| Total Program Service Revenue | $25,298,175 |
| Investment income | $19,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,841 |
| Net Gain/Loss on Asset Sales | $14,900 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,911,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,531,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $116,928 |
| Compensation of current officers, directors, key employees. | $11,693 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $185,915 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $39,080 |
| Payroll taxes | $6,318 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,457 |
| Fees for services: Accounting | $61,071 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $259,185 |
| Advertising and promotion | $0 |
| Office expenses | $57,346 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,702,055 |
| Travel | $2,284 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,339,979 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,875,236 |
| Insurance | $459,793 |
| All other expenses | $178 |
| Total functional expenses | $30,440,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,366,011 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $132,650 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $140,536 |
| Net Land, buildings, and equipment | $195,503,246 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $113,295,953 |
| Total assets | $322,438,396 |
| Accounts payable and accrued expenses | $10,986,143 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $292,435,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $36,332,692 |
| Unsecured mortgages and notes payable | $973,815 |
| Other liabilities | $2,208,487 |
| Total liabilities | $342,936,137 |
| Net assets without donor restrictions | -$37,113,303 |
| Net assets with donor restrictions | $16,615,562 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $322,438,396 |
Grants Awarded
Over the last fiscal year, Longwood University Real Estate Foundation has awarded $2,030,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LONGWOOD UNIVERSITY PURPOSE: GENERAL SUPPORT | $2,000,000 |
PRINCE EDWARD CO VOL RESCUE SQUAD PURPOSE: GENERAL OPERATIONS | $30,000 |