Innovative Student Facilities Inc
- Assets
- $158.2m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Ruston, LA
- Founding
- 06/2003
- Data as of
- 06/2024
- EIN
- 68-0522870
Organization Overview
Innovative Student Facilities Inc is located in Ruston, LA. The organization was established in 2003. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Innovative Student Facilities 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF INNOVATIVE STUDENT FACILITIES, INC. SHALL BE TO PROMOTE, ASSIST AND BENEFIT THE EDUCATIONAL MISSION OF LOUISIANA TECH UNIVERSITY UNDER THE MANAGEMENT AND CONTROL OF THE BOARD OF SUPERVISORS FOR THE UNIVERSITY OF LOUISIANA SYSTEM. THE IMPLEMENTATION OF THIS MISSION SHALL INCLUDE ANY LAWFUL ACTIVITY DEEMED BY THE CORPORATION NECESSARY OR ADVISABLE IN ORDER TO SUPPORT AND ASSIST THE UNIVERSITY IN CARRYING OUT ITS MISSION AND OBJECTIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACQUIRE, CONSTRUCT, DEVELOP, AND MANAGE STUDENT HOUSING & OTHER FACILITIES ON THE CAMPUS OF LOUISIANA TECH UNIVERSITY IN RUSTON, LOUISIANA. INNOVATIVE STUDENT FACILITIES LEASES THE STUDENT HOUSING TO LOUISIANA TECH UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Dickie Crawford Director | Trustee | 2 | $0 |
Dr James King Director | Trustee | 1 | $0 |
Dan Hollingsworth Director | Trustee | 0.1 | $0 |
Russell Nolan Director | Trustee | 0.1 | $0 |
Connie Howard Sec/treasurer | OfficerTrustee | 0.1 | $0 |
Dr Jean Hall Vice Chairman | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trane Us Inc Hvac Repair & Maintenance | 6/29/24 | $818,820 |
City Of Ruston Pedestrian Trail Reimbursement | 6/29/24 | $631,609 |
Lincoln Builders Of Ruston Construction Services | 6/29/24 | $150,000 |
Clean Masters Maintenance Systems Cleaning Services | 6/29/24 | $145,830 |
Darbonne Construction Cleaning Services | 6/29/24 | $121,684 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $18,500 |
| 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 | $18,500 |
| Total Program Service Revenue | $11,151,879 |
| Investment income | $334,396 |
| Tax Exempt Bond Proceeds | $401,049 |
| 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 | $12,210,997 |
| 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 | $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 | $0 |
| 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 | $5,635,030 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,413,326 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,723,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,567,936 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $148,167,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,445,459 |
| Total assets | $158,180,916 |
| Accounts payable and accrued expenses | $49,111 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $141,229,439 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,063,875 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,502,049 |
| Total liabilities | $143,844,474 |
| Net assets without donor restrictions | -$769,338 |
| Net assets with donor restrictions | $15,105,780 |
| 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 | $158,180,916 |