Virginia Tech Real Estate Fdn
- Assets
- $287.3m
- Revenue
- $14.5m
- Investments
- $33.4m
- Employees
- 0
- Location
- Blacksburg, VA
- Founding
- 08/1990
- Data as of
- 06/2022
- EIN
- 54-1528809
Organization Overview
Virginia Tech Real Estate Fdn is located in Blacksburg, VA. The organization was established in 1990. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., 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. Virginia Tech Real Estate Fdn 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 06/2022, Virginia Tech Real Estate Fdn generated $14.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $9.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION ENGAGES IN ANY AND ALL MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).
Describe the Organization's Program Activity:
Part 3 - Line 4a
VTREF ENGAGED IN ACTIVITIES PERTAINING TO THE OWNERSHIP, DEVELOPMENT AND OPERATION OF VARIOUS PROPERTIES IN SUPPORT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Starlette B Johnson Chairman | OfficerTrustee | 2 | $0 |
Jacqueline L Archer Director | Trustee | 2 | $0 |
Christopher J Brightman Director | Trustee | 2 | $0 |
Deseria Creighton-Barney Director | Trustee | 2 | $0 |
Letitia A Long Director | Trustee | 2 | $0 |
William N Park Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monarc Construction Inc Construction Services | 6/29/22 | $459,938 |
Janitorial & Maintenance Solutions Inc Janitorial Services | 6/29/22 | $267,823 |
Mc Dean Cyber Security | 6/29/22 | $102,138 |
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 | $14,397,794 |
| Investment income | $137,751 |
| 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 | $14,535,545 |
| 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 | $375,083 |
| Pension plan accruals and contributions | $13,826 |
| Other employee benefits | $33,603 |
| Payroll taxes | $9,098 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,652 |
| Fees for services: Accounting | $4,277 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $634,651 |
| Advertising and promotion | $0 |
| Office expenses | $165,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $796,259 |
| Travel | $57,633 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,647,334 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,197,290 |
| Insurance | $104,144 |
| All other expenses | $10,519 |
| Total functional expenses | $9,650,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,879,300 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $187,925 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,195,351 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $255,801 |
| Net Land, buildings, and equipment | $183,828,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $33,426,131 |
| Investments—program-related | $0 |
| Intangible assets | $323,850 |
| Other assets | $42,221,459 |
| Total assets | $287,318,402 |
| Accounts payable and accrued expenses | $5,861,603 |
| Grants payable | $0 |
| Deferred revenue | $13,005,542 |
| 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 | $180,267,690 |
| Other liabilities | $7,247,385 |
| Total liabilities | $206,382,220 |
| Net assets without donor restrictions | $76,268,214 |
| Net assets with donor restrictions | $4,667,968 |
| 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 | $287,318,402 |