Marshall University Real Estate Foundation Inc
- Assets
- $3.7m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 11/2008
- Data as of
- 06/2022
- EIN
- 26-2912485
Organization Overview
Marshall University Real Estate Foundation Inc is located in Huntington, WV. The organization was established in 2008. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshall University Real Estate Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MARSHALL UNIVERSITY REAL ESTATE FOUNDATION IS A SUPPORTING ORGANIZATION OF THE MARSHALL UNIVERSITY FOUNDATION ORGANIZED TO CONDUCT REAL ESTATE TRANSACTIONS FOR THE BENEFIT OF MARSHALL UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUREF ENTERED INTO A LEASE ARRANGEMENT WITH MARSHALL UNIVERSITY TO CONSTRUCT AND LEASE AN EDUCATIONAL BUILDING TO THE UNIVERSITY. THE CONSTRUCTION WAS IN PROGRESS DURING THE YEAR AND CERTAIN LEASE REVENUES WERE COLLECTED IN CONJUNCTION WITH THE PROJECT.
THE ORGANIZATION ACCEPTED A PIECE OF PROPERTY FROM AN ESTATE ON BEHALF OF THE UNIVERSITY. UPON LIQUIDATION, THE PROCEEDS WILL BENEFIT A SCHOLARSHIP AT THE MARSHALL UNIVERSITY FOUNDATION.
THE ORGANIZATION ACCEPTED A PIECE OF PROPERTY IN EXCHANGE FOR A CHARITABLE GIFTS ANNUITY THE RESIDUUM OF WHICH WILL BENEFIT A SCHOLARSHIP AT THE MARSHALL UNIVERSITY FOUNDATION. THE ASSETS AND LIABILITIES WERE ASSIGNED TO THE MARSHALL UNIVERSITY FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Scott Anderson Executive Director | Officer | 3 | $0 |
Joseph B Touma Director | Trustee | 1 | $0 |
J Patrick Jones Director | Trustee | 1 | $0 |
Gary Ambler Treasurer | OfficerTrustee | 1 | $0 |
John Ashford Chair | OfficerTrustee | 2 | $0 |
Lake Polan III Secretary | OfficerTrustee | 1 | $0 |
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 | $165,000 |
| Noncash contributions included in lines 1a–1f | $165,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $165,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,615,286 |
| Net Gain/Loss on Asset Sales | -$20,857 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,759,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $860 |
| Advertising and promotion | $0 |
| Office expenses | $478 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $283 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $255 |
| All other expenses | $0 |
| Total functional expenses | $78,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,600 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,480,364 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,682,714 |
| Accounts payable and accrued expenses | $1,881,829 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,881,829 |
| Net assets without donor restrictions | $1,800,885 |
| Net assets with donor restrictions | $0 |
| 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 | $3,682,714 |
Grants Awarded
Over the last fiscal year, Marshall University Real Estate Foundation Inc has awarded $1,971,547 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE MARSHALL UNIVERSITY FOUNDATION INC PURPOSE: Establish an endowment for engineering at Marshall University. | $34,047 |
MARSHALL UNIVERSITY PURPOSE: Transferred a building upon the expiration of a lease in support of Marshall University's academic mission | $1,937,500 |