Blugold Real Estate Foundation Inc
- Assets
- $100.7m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Eau Claire, WI
- Founding
- 12/2014
- Data as of
- 06/2023
- EIN
- 47-1689874
Organization Overview
Blugold Real Estate Foundation Inc is located in Eau Claire, WI. The organization was established in 2014. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blugold 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.
For the year ending 06/2023, Blugold Real Estate Foundation Inc generated $11.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $4.4m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. THE CORPORATION SHALL BE OPERATED FOR THE BENEFIT OF AND IN ALIGNMENT WITH THE UNIVERSITY OF WISCONSIN-EAU CLAIRE FOUNDATION, INC. AND THE UNIVERSITY OF WISCONSIN-EAU CLAIRE. THE MOST SIGNIFICANT ACTIVITIES OF THE CORPORATION ARE LISTED BELOW.TO ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER, AND OTHERWISE DEAL IN REAL ESTATE FOR USE AND ENJOYMENT BY, IN FURTHERANCE OF THE PURPOSE OF, AND FOR THE EXCLUSIVE BENEFIT OF THE UNIVERSITY OF WISCONSIN-EAU CLAIRE FOUNDATION, INC. AND THE UNIVERSITY OF WISCONSIN-EAU CLAIRE.TO RENT AFFORDABLE STUDENT HOUSING AND TO CREATE AFFORDABLE LOW INCOME HOUSING PROJECTS, PRIMARILY FOR STUDENTS (ESPECIALLY FOR LOW INCOME STUDENTS), AS DETERMINED IN ACCORDANCE WITH THE INCOME LIMITS PUBLISHED BY THE FEDERAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER THE NATIONAL HOUSING ACT OF 1937.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HOLDS SEVERAL PROPERTIES TO SUPPORT THE RESIDENTIAL HOUSING NEEDS OF THE UNIVERSITY STUDENTS AND FACULTY. IN ADDITION, THE ORGANIZATION HOLDS PROPERTIES TO SUPPORT THE PROGRAMS OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Lipinski President/chair | OfficerTrustee | 1 | $0 |
Terry Mcmahon Vice President | OfficerTrustee | 1 | $0 |
Patricia Lien Assistant Secretary | OfficerTrustee | 1 | $0 |
Charlie Bauer Director (thru 10/2022) | Trustee | 1 | $0 |
Chops Hancock Director | Trustee | 1 | $0 |
Barry Moullet Director (thru 10/2022) | 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 | $4,920,907 |
| Investment income | $1,024,486 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,381,785 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,327,178 |
| 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 | $52,072 |
| 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 | $60,270 |
| Advertising and promotion | $0 |
| Office expenses | $9,496 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $518,035 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,721,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,433,789 |
| Insurance | $31,126 |
| All other expenses | $586,264 |
| Total functional expenses | $4,412,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,123,387 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,500,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,760,776 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,964 |
| Net Land, buildings, and equipment | $45,022,786 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,280,832 |
| Total assets | $100,691,745 |
| Accounts payable and accrued expenses | $453,849 |
| Grants payable | $0 |
| Deferred revenue | $2,661,677 |
| Tax-exempt bond liabilities | $28,906,342 |
| 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 | $18,251,417 |
| Total liabilities | $50,273,285 |
| Net assets without donor restrictions | $1,830,271 |
| Net assets with donor restrictions | $48,588,189 |
| 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 | $100,691,745 |