Marshall University Real Estate Foundation Inc
- Assets
- $180.9k
- Revenue
- $127.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 11/2008
- Data as of
- 06/2021
- 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
2021
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 HELD A PIECE OF COMMERCIAL PROPERTY WHICH IT LEASED TO MARSHALL UNIVERSITY FOR USE IN PROVIDING EDUCATION SERVICES. NET PROCEEDS FROM PROGRAM RENTALS WERE TRANSFERRED TO THE MARSHALL UNIVERSITY FOUNDATION TO FUND AN ENDOWMENT FOR ENGINEERING. THE LEASE EXPIRED OCT 1, AND THE PROPERTY WAS TRANSFERRED TO THE MARSHALL UNIVERSITY AT THAT TIME.
THE ORGANIZATION ACCEPTED A PIECE OF PROPERTY IN EXCHANGE FOR A CHARITABLE GIFT ANNUITY THE RESIDUUM OF WHICH WILL BENEFIT A SCHOLARSHIP AT THE MARSHALL UNIVERSITY FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Ambler Treasurer | OfficerTrustee | 1 | $0 |
John Ashford Chair | OfficerTrustee | 2 | $0 |
Lake Polan III Secretary | OfficerTrustee | 1 | $0 |
R Scott Anderson Executive Director | Officer | 5 | $0 |
Timothy Haymaker Director | Trustee | 1 | $0 |
J Patrick Jones Director | Trustee | 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 | $99,077 |
| Noncash contributions included in lines 1a–1f | $99,077 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,077 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,695 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $127,772 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,974,566 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $53 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $34,375 |
| Insurance | $1,693 |
| All other expenses | $0 |
| Total functional expenses | $2,012,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $218 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160,000 |
| Total assets | $180,894 |
| Accounts payable and accrued expenses | $0 |
| 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 | $60,923 |
| Total liabilities | $60,923 |
| Net assets without donor restrictions | $20,894 |
| Net assets with donor restrictions | $99,077 |
| 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 | $180,894 |
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 |
|---|---|
MARSHALL UNIVERSITY PURPOSE: Transferred a building upon the expiration of a lease in support of Marshall University's academic mission | $1,937,500 |
Huntington, WV PURPOSE: Establish an endowment for engineering at Marshall University. | $34,047 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
University Of Virginia Investment Management Company Charlottesville, VA | $10,038,884,501 | $457,345,731 |
University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
Old Dominion University Educational Foundation Norfolk, VA | $390,141,589 | $33,517,872 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |
Marshall University Foundation Incorporated Huntington, WV | $365,151,220 | $39,444,191 |
Friends Of Breakthrough Schools Cleveland, OH | $75,617,435 | $14,315,646 |
Virginia Commonwealth University Foundation Richmond, VA | $117,210,353 | $9,637,107 |
University Of Virginia Healt Foundation Charlottesville, VA | $89,840,390 | $9,560,297 |