UNIVERSITY DEVELOPMENT GROUP INC: Form 990EZ, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- UNIVERSITY DEVELOPMENT GROUP INC (EIN 26-3118684)
- Tax period
- 2014-07-01 to 2015-06-30
- Filed
- 2015-09-09
- IRS object ID
- 201522529349200212
- Schema version
- 2014v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-09-09T09:37:38-05:00 | ReturnTs |
| Tax Period End | 2015-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 340876435 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCHLABIG & ASSOCIATES LTD | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2275 STATE ROUTE 59 | AddressLine1Txt |
| City | KENT | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 442407143 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990EZ | ReturnTypeCd |
| Tax Period Begin | 2014-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 263118684 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY DEVELOPMENT GROUP INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UNIV | BusinessNameControlTxt |
| Phone | 3302833822 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 333 | AddressLine1Txt |
| City | KENT | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 44240 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MICHAEL DREW | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 3302833822 | PhoneNum |
| Signature | 2015-07-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | THOMAS R HAGER CPA | PreparerPersonNm |
| PTIN | P00358675 | PTIN |
| Phone | 3306785203 | PhoneNum |
| Preparation | 2015-08-06 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990-EZ IRS990EZ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Website Address | N/A | WebsiteAddressTxt |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Gross Receipts | $139,880 | GrossReceiptsAmt |
| Info In Schedule O Part I | Yes (X) | InfoInScheduleOPartIInd |
| Program Service Revenue | $139,650 | ProgramServiceRevenueAmt |
| Investment Income | $230 | InvestmentIncomeAmt |
| Total Revenue | $139,880 | TotalRevenueAmt |
| Fees And Other Pymt To Ind Cntrct | $8,245 | FeesAndOtherPymtToIndCntrctAmt |
| Printing Publications Postage | $149 | PrintingPublicationsPostageAmt |
| Other Expenses Total | $221,602 | OtherExpensesTotalAmt |
| Total Expenses | $229,996 | TotalExpensesAmt |
| Excess Or Deficit For Year | -$90,116 | ExcessOrDeficitForYearAmt |
| Net Assets Or Fund Balances BOY | $233,557 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $143,441 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part II | Yes (X) | InfoInScheduleOPartIIInd |
Cash Savings And Investments CashSavingsAndInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $166,050 | BOYAmt |
| EOY | $82,363 | EOYAmt |
Other Assets Total Detail OtherAssetsTotalDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,507 | BOYAmt |
| EOY | $61,078 | EOYAmt |
Form990 Total Assets Form990TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $233,557 | BOYAmt |
| EOY | $143,441 | EOYAmt |
Net Assets Or Fund Balances NetAssetsOrFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $233,557 | BOYAmt |
| EOY | $143,441 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Primary Exempt Purpose | UNIVERSITY DEVELOPMENT GROUP, INC WAS FORMED TO MANAGE PROPERTY OWNED BY KENT STATE UNIVERSITY AND HOLD EQUITY INTERESTS OR LICENSES IN START UP ENTITIES. THE COMPANY IS A CONDUIT THAT HELPS IN FORMATION OF NEW BUSINESSES, CREATION OF JOBS AND REVITALIZATION AND GROWTH IN NORTHEAST OHIO. THEY ALSO PROMOTE ACADEMIC ACHIEVEMENT AND ENHANCE EDUCATION BY PROVIDING OPPPORTUNITIES FOR STUDENTS IN THE BUSINESS AND ENTREPRENEURIAL AREAS. | PrimaryExemptPurposeTxt |
Program Srvc Accomplishment ProgramSrvcAccomplishmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Program Srvc Accom | MANAGEMENT OF CENTENNIAL RESEARCH PARK AND LEASE AGREEMENTS WITH THE COLLEGE OF BUSINESS ADMINISTRATION'S CENTER FOR ENTREPRENEURSHIP & BUSINESS INNOVATION PROGRAM AND THE COLLEGE OF COMMUNICATION. | DescriptionProgramSrvcAccomTxt |
| Program Service Expenses | $224,502 | ProgramServiceExpensesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $224,502 | TotalProgramServiceExpensesAmt |
Officer Director Trustee Empl OfficerDirectorTrusteeEmplGrp (3 entries)
| TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt |
|---|---|---|
| MICHAEL DREW | ||
| PRESIDENT | 3.00 | $3,000 |
| LOWELL CROSKEY | ||
| DIRECTOR | 1.00 | $0 |
| RICHARD WORTHING | ||
| DIRECTOR | 1.00 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Chg Made To Orgnzng Doc Not Rpt | false | ChgMadeToOrgnzngDocNotRptInd |
| Organization Had UBI | false | OrganizationHadUBIInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Form1120 Pol Filed | false | Form1120PolFiledInd |
| Made Loans To From Officers | false | MadeLoansToFromOfficersInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| States Where Copy Of Return Is Fld | OH | StatesWhereCopyOfReturnIsFldCd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MICHAEL A DREW | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 333 | AddressLine1Txt |
| Address Line2 | PO BOX 333 | AddressLine2Txt |
| City | KENT | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 44240 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3302833822 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Foreign Office | false | ForeignOfficeInd |
| Donor Advised Fnds | false | DonorAdvisedFndsInd |
| Operate Hospital | false | OperateHospitalInd |
| Tanning Services Provided | false | TanningServicesProvidedInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| School Operating | false | SchoolOperatingInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Part VI Of Comp Of Hghst Pd Empl | NONE | PartVIOfCompOfHghstPdEmplTxt |
| Part VI Hghst Pd Cntrct Prof Srvc | NONE | PartVIHghstPdCntrctProfSrvcTxt |
| Filed Schedule A | Yes (true) | FiledScheduleAInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $124,290 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $176,419 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $140,934 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $163,313 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $139,650 | CurrentTaxYearAmt |
| Total | $744,606 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $124,290 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $176,419 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $140,934 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $163,313 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $139,650 | CurrentTaxYearAmt |
| Total | $744,606 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $744,606 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $66 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $28 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $146 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $96 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $230 | CurrentTaxYearAmt |
| Total | $566 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $387 | CurrentTaxYearMinus4YearsAmt |
| Total | $387 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $745,559 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $139,650 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.99870 | PublicSupportCY170Pct |
| Public Support PY170 | 0.99890 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, LINE 10 | FormAndLineReferenceDesc |
| Explanation | OTHER INCOME 387 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990-EZ, PART I, LINE 16 | EXPENSES INSURANCE 6,838 MANAGEMENT FEES 208,120 BUSINESS REGISTRATIONS 100 MEETING EXPENSE 115 NON-INVESTMENT DEPRECIATION 6,429 TOTAL 221,602 |
| FORM 990-EZ, PART II, LINE 24 | LEASEHOLD IMPROVEMENTS 192,877 192,877 LESS ACCUMULATED DEPRECIATION 125,370 131,799 BASIS IN START-UP COMPANIES 0 0 TOTAL 67,507 61,078 |
| FORM 990-EZ, PART III | UNIVERSITY DEVELOPMENT GROUP, INC WAS FORMED TO MANAGE PROPERTY OWNED BY KENT STATE UNIVERSITY AND HOLD EQUITY INTERESTS OR LICENSES IN START UP ENTITIES. THE COMPANY IS A CONDUIT THAT HELPS IN FORMATION OF NEW BUSINESSES, CREATION OF JOBS AND REVITALIZATION AND GROWTH IN NORTHEAST OHIO. THEY ALSO PROMOTE ACADEMIC ACHIEVEMENT AND ENHANCE EDUCATION BY PROVIDING OPPPORTUNITIES FOR STUDENTS IN THE BUSINESS AND ENTREPRENEURIAL AREAS. |
| FORM 990-EZ, PART III, LINE 28 | MANAGEMENT OF CENTENNIAL RESEARCH PARK AND LEASE AGREEMENTS WITH THE COLLEGE OF BUSINESS ADMINISTRATION'S CENTER FOR ENTREPRENEURSHIP & BUSINESS INNOVATION PROGRAM AND THE COLLEGE OF COMMUNICATION. |