Double Bowler Properties Corp
- Assets
- $11.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- University Hall Dayto, OH
- Founding
- 04/2015
- Data as of
- 06/2021
- EIN
- 47-1335210
Organization Overview
Double Bowler Properties Corp is located in University Hall Dayto, OH. The organization was established in 2015. 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. Double Bowler Properties Corp 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 06/2021, Double Bowler Properties Corp generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 6 years. 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
TO EXPAND THE EDUCATIONAL OPPORTUNITIES AVAILABLE TO THE STUDENTS, FACULTY AND STAFF OF WRIGHT STATE UNIVERSITY BY DEVELOPING, OPERATING, AND MAINTAINING FACILITIES FOR THE BENEFIT OF THE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION, EITHER DIRECTLY OR THROUGH ITS WHOLLY OWNED SUBSIDIARIES, ACQUIRES REAL PROPERTY IN THE AREAS SURROUNDING THE WRIGHT STATE UNIVERSITY CAMPUSES FOR THE BENEFIT OF WRIGHT STATE UNIVERSITY. SUBSTANTIALLY ALL THE PROPERTY ACQUIRED BY PURCHASE WILL BE LEASED AT COST PURSUANT TO A MASTER LEASE AGREEMENT BETWEEN DOUBLE BOWLER PROPERTIES CORP. (AND ITS WHOLLY OWNED SUBSIDIARIES) AND WRIGHT STATE UNIVERSITY. TO DATE, THE ORGANIZATION, EITHER DIRECTLY OR THROUGH ITS WHOLLY OWNED SUBSIDIARIES, HAS ACQUIRED SEVEN PROPERTIES AND LEASED FIVE OF THOSE PROPERTIES TO WSU. WSU IS USING THESE PROPERTIES FOR UNIVERSITY PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Bridges Chairman | OfficerTrustee | 1 | $0 |
Greg Sample President, CEO | OfficerTrustee | 1 | $0 |
Dr Anuj Goyal Member | Trustee | 1 | $0 |
Burhan Kawosa Member | Trustee | 1 | $0 |
Sue Edwards Member | Trustee | 1 | $0 |
Tom Gunlock Member | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,519,016 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,552,848 |
| 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 | $49,510 |
| Fees for services: Legal | $66,579 |
| Fees for services: Accounting | $62,690 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,742 |
| Advertising and promotion | $0 |
| Office expenses | $4,869 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $210,880 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $546,342 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $336,253 |
| Insurance | $26,498 |
| All other expenses | $3,194 |
| Total functional expenses | $1,520,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447,913 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $61,956 |
| 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 | $147,330 |
| Net Land, buildings, and equipment | $10,673,303 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,430,502 |
| Accounts payable and accrued expenses | $273,240 |
| Grants payable | $0 |
| Deferred revenue | $41,204 |
| Tax-exempt bond liabilities | $7,935,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,039,059 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,288,503 |
| Net assets without donor restrictions | $0 |
| 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 | $1,141,999 |
| Total liabilities and net assets/fund balances | $11,430,502 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
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 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Ers Strategic Properties Inc Rootstown, OH | $122,229,530 | $11,683,070 |
Employee Benefit Trust Of Northampton Co Area Community Coll Bethlehem, PA | $1,194,772 | $10,407,527 |