Christopher Newport University Real Estate Foundation Inc is located in Newport News, VA. The organization was established in 2002. According to its NTEE Classification (B99) the organization is classified as: Education 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. Christopher Newport 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.
For the year ending 06/2024, Christopher Newport University Real Estate Foundation Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $4.1m during the year ending 06/2024. While expenses have increased by 7.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE CHRISTOPHER NEWPORT UNIVERSITY.
Describe the Organization's Program Activity:
CHRISTOPHER NEWPORT UNIVERSITY - EDUCATIONAL EXPENSES GIVEN AS DIRECT SUPPORT TO CHRISTOPHER NEWPORT UNIVERSITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
William Kelly Board Member | Trustee | 10 | $0 |
Adelia P Thompson Board Member | Trustee | 10 | $0 |
Jennifer Latour Secretary | OfficerTrustee | 10 | $0 |
C Brad Hunter Board | Trustee | 1 | $0 |
Alan Witt Board Member | Trustee | 1 | $0 |
Ann Hunnicut Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Glave & Holmes Architectural Services | 6/29/23 | $214,638 |
Mcguire Woods Llp Legal Assistance | 6/29/23 | $162,905 |
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 | $0 |
Investment income | $34,626 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $3,809,725 |
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 | $3,844,351 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $3,297,751 |
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. | $526,905 |
Compensation of current officers, directors, key employees. | $526,905 |
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 | $114,604 |
Fees for services: Legal | $125 |
Fees for services: Accounting | $22,250 |
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 | $26,080 |
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 | $4,087 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $4,063,459 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,521,873 |
Savings and temporary cash investments | $1,038,935 |
Pledges and grants receivable | $400,000 |
Accounts receivable, net | $1,003,884 |
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 | $114,325,609 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $3,045,429 |
Total assets | $121,335,730 |
Accounts payable and accrued expenses | $236,668 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $64,386,665 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $46,065,160 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $93,269 |
Total liabilities | $110,781,762 |
Net assets without donor restrictions | $10,553,968 |
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 | $121,335,730 |