LONGWOOD UNIVERSITY REAL ESTATE FOUNDATION: Form 990, tax year 2013
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- Organization
- LONGWOOD UNIVERSITY REAL ESTATE FOUNDATION (EIN 20-1612906)
- Tax period
- 2013-01-01 to 2013-12-31
- Filed
- 2014-11-17
- IRS object ID
- 201403219349306900
- Schema version
- 2013v3.0
- 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 | 2014-11-17T13:34:41-06:00 | ReturnTs |
| Tax Period End | 2013-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 570381582 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELLIOTT DAVIS LLCPLLC | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 901 E BYRD STREET SUITE 1000 | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 23219 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 201612906 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONGWOOD UNIVERSITY REAL ESTATE FOUNDATI | BusinessNameLine1 |
| Business Name Line2 | FOUNDATION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LONG | BusinessNameControlTxt |
| Phone | 4343952086 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 315 WEST THIRD STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23901 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LOUISE W WALLER | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 4343952086 | PhoneNum |
| Signature | 2014-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JANET L BROCKLEHURST CPA | PreparerPersonNm |
| PTIN | P00449539 | PTIN |
| Phone | 8046124380 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2013 | TaxYr |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | LOUISE W WALLER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 315 WEST THIRD STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23901 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,052,546 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | TO ACQUIRE, DEVELOP, FINANCE, LEASE, HOLD, OPERATE, MANAGE AND DISPOSE OF REAL PROPERTY ASSETS AND INTERESTS FOR LONGWOOD UNIVERSITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $6,050,436 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,728,376 | CYProgramServiceRevenueAmt |
| PY Investment Income | $13,150 | PYInvestmentIncomeAmt |
| CY Investment Income | -$10,213 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,144 | PYOtherRevenueAmt |
| CY Other Revenue | $7,379 | CYOtherRevenueAmt |
| PY Total Revenue | $6,064,730 | PYTotalRevenueAmt |
| CY Total Revenue | $7,725,542 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $6,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $181,337 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $163,642 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $8,342,704 | PYOtherExpensesAmt |
| CY Other Expenses | $8,463,550 | CYOtherExpensesAmt |
| PY Total Expenses | $8,530,541 | PYTotalExpensesAmt |
| CY Total Expenses | $8,627,192 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,465,811 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$901,650 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $73,822,828 | TotalAssetsBOYAmt |
| Total Assets EOY | $93,619,784 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $89,569,138 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $105,469,783 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$15,746,310 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$11,849,999 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE MISSION OF THE FOUNDATION IS TO ACQUIRE, DEVELOP, FINANCE, LEASE, HOLD, OPERATE, MANAGE AND DISPOSE OF REAL PROPERTY ASSETS AND INTERESTS FOR LONGWOOD UNIVERSITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $8,584,983 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $7,702,007 | RevenueAmt |
| Desc | ALL PROGRAM ACTIVITIES RELATE TO THE ACQUISITION, DEVELOPMENT, FINANCING, LEASING, HOLDING, OPERATING, MANAGEMENT AND DISPOSAL OF REAL PROPERTY ASSETS AND INTERESTS OF LONGWOOD UNIVERSITY. | Desc |
| Total Program Service Expenses | $8,584,983 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 6 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | 0 | Form8899Filedind |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | VA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOUISE W WALLER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4343952358 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 315 WEST THIRD STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23901 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| OTIS BROWN | ||||||
| PRESIDENT | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| P KENNETH COPELAND JR | ||||||
| EX-OFFICIO | 0.00 | Yes (X) | $0 | $0 | $0 | |
| RICHARD W BRATCHER | ||||||
| EX-OFFICIO | 0.00 | Yes (X) | $0 | $0 | $0 | |
| BARRY J CASE | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| E DUFFY MYRTETUS | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| LOUISE WALLER | ||||||
| EXCECUTIVE DIRECTOR | 40.00 | Yes (X) | Yes (X) | $0 | $64,915 | $6,026 |
| TIM J PIERSON | ||||||
| EX-OFFICIO | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DR HELEN P WARRINER-BURKE | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| HUNTER WATSON | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| SHERRY SWINSON | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| CLAIRE REEVES LA ROCHE | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| BRAD SCWARTZ | ||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $64,915 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $6,026 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| RENT | 531110 | $7,630,462 | $7,630,462 |
| PARKING | 531390 | $97,914 | $97,914 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,728,376 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $16,156 | TotalRevenueColumnAmt |
| Exclusion | $16,156 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $300,635 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $327,004 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$26,369 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$26,369 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$26,369 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS INCOME | Desc |
| Business | 531390 | BusinessCd |
| Total Revenue Column | $7,379 | TotalRevenueColumnAmt |
| Exclusion | $7,379 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $7,379 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,725,542 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,702,007 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $23,535 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $106,168 | TotalAmt |
| Program Services | $95,551 | ProgramServicesAmt |
| Management And General | $10,617 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,474 | TotalAmt |
| Program Services | $51,727 | ProgramServicesAmt |
| Management And General | $5,747 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $460,097 | TotalAmt |
| Program Services | $460,097 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,135 | TotalAmt |
| Program Services | $11,308 | ProgramServicesAmt |
| Management And General | $2,827 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $78,665 | TotalAmt |
| Program Services | $62,932 | ProgramServicesAmt |
| Management And General | $15,733 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,840 | TotalAmt |
| Program Services | $50,240 | ProgramServicesAmt |
| Management And General | $1,600 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,076,828 | TotalAmt |
| Program Services | $2,076,828 | ProgramServicesAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $902 | TotalAmt |
| Management And General | $902 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,992,063 | TotalAmt |
| Program Services | $2,992,063 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,499,794 | TotalAmt |
| Program Services | $2,499,794 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $206,543 | TotalAmt |
| Program Services | $206,543 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| OTHER EXPENSE | $47,823 | $43,040 | $4,783 |
| CONDOMINIUM ASSOCIATION | $34,860 | $34,860 | $0 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,627,192 | TotalAmt |
| Program Services | $8,584,983 | ProgramServicesAmt |
| Management And General | $42,209 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $130,957 | BOYAmt |
| EOY | $539,405 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $294,374 | BOYAmt |
| EOY | $296,929 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,591 | BOYAmt |
| EOY | $41,312 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $99,676,104 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,576,362 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,379,223 | BOYAmt |
| EOY | $87,099,742 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,993,683 | BOYAmt |
| EOY | $5,642,396 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,822,828 | BOYAmt |
| EOY | $93,619,784 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,222,832 | BOYAmt |
| EOY | $819,728 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $66,635,285 | BOYAmt |
| EOY | $84,705,000 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,576,336 | BOYAmt |
| EOY | $8,033,240 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,920,212 | BOYAmt |
| EOY | $4,495,303 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,214,473 | BOYAmt |
| EOY | $7,416,512 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $89,569,138 | BOYAmt |
| EOY | $105,469,783 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$15,746,310 | BOYAmt |
| EOY | -$11,849,999 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$15,746,310 | BOYAmt |
| EOY | -$11,849,999 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,822,828 | BOYAmt |
| EOY | $93,619,784 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$901,650 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $4,797,961 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type2 | Yes (X) | SupportingOrgType2Ind |
| Certification | Yes (X) | CertificationInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONGWOOD UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 546001788 | EIN |
| Organization Type | 6 | OrganizationTypeDesc |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Supported Org Notified | Yes (1) | SupportedOrgNotifiedInd |
| US Organized | Yes (1) | USOrganizedInd |
| Support | $0 | SupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $0 | SupportSumAmt |
Form990 Schedule A Part IV Form990ScheduleAPartIVGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART I, LINE 11H, COLUMN VII | FormAndLineReferenceDesc |
| Explanation | THE FOUNDATION PROVIDES LEASING OF STUDENT HOUSING AND OTHER STUDENT RELATED FACILITIES TO LONGWOOD UNIVERSITY (THE SUPPORTED ORGANIZATION) AND SUPPORTS GENERAL REAL ESTATE AND PROPERTY MANAGEMENT FOR THE UNIVERSITY. IN LIEU OF MONETARY SUPPORT, THE FOUNDATION PROVIDED ACCESS TO THE FACILITIES UNDER LEASE AGREEMENTS, AND PAYS MANAGEMENT AND OTHER ANCILLARY SERVICE FEES TO THE UNIVERSITY. SEE SCHEDULE R. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,001,473 | OtherCostOrOtherBasisAmt |
| Book Value | $9,001,473 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $75,659,191 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,291,152 | DepreciationAmt |
| Book Value | $67,368,039 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $603,369 | OtherCostOrOtherBasisAmt |
| Depreciation | $228,166 | DepreciationAmt |
| Book Value | $375,203 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,650,250 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,574,757 | DepreciationAmt |
| Book Value | $2,075,493 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,761,821 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,482,287 | DepreciationAmt |
| Book Value | $8,279,534 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $87,099,742 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DUE FROM LONGWOOD UNIVERSITY | $285,818 |
| NET LOAN COSTS | $794,291 |
| RESTRICTED DEPOSITS AND FUNDED RESERVES | $4,504,611 |
| DUE FROM LONGWOOD UNIVERSITY FOUNDATION | $57,676 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $5,642,396 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SWAP VALUATION | Desc |
| Amt | $7,416,512 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $7,416,512 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $12,523,503 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $4,797,961 | OtherRevenueAmt |
| Revenue Not Reported | $4,797,961 | RevenueNotReportedAmt |
| Revenue Subtotal | $7,725,542 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $7,725,542 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $0 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $0 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $0 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND THE TAX STATUTES OF THE COMMONWEALTH OF VIRGINIA; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATIONS WHOLLY OWNED SUBSIDIARIES ARE DISREGARDED ENTITIES FOR TAX PURPOSES AND ARE INCLUDED IN THE FOUNDATIONS FILINGS. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2013. FISCAL YEARS ENDING ON OR AFTER 2010 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | UNREALIZED LOSS ON INTEREST RATE SWAP 4,797,961. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|
| INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF FARMVILLE VIRGINIA | |||||||
| A | 546001272 | 2012-08-31 | $45,000,000 | TO FINANCE AQUISITION OF PROPERTY HELD FOR BENEFIT OF LONGWOOD UNIVERSITY | 0 | 0 | 0 |
| INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF FARMVILLE VIRGINIA | |||||||
| B | 546001272 | 2012-08-31 | $40,400,000 | TO FINANCE AQUISITION OF PROPERTY HELD FOR BENEFIT OF LONGWOOD UNIVERSITY | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Capitalized InterestCapitalizedInterestAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Other Spent ProceedsOtherSpentProceedsAmt | UnspentUnspentAmt | Current RefundingCurrentRefundingInd | Advance RefundingAdvanceRefundingInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd | Substantial CompletionSubstantialCompletionYr |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $43,676,852 | $1,000,000 | $275,677 | $323,148 | $22,157,733 | $2,478,727 | $17,441,567 | 0 | 0 | 0 | Yes (1) | |
| B | $40,400,000 | $2,000,000 | $176,852 | $38,223,148 | Yes (1) | 0 | Yes (1) | Yes (1) | 2010 |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 |
| B | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd | Business Name Line2HedgeProviderName/BusinessNameLine2 | Term Of HedgeTermOfHedgePct | Superintegrated HedgeSuperintegratedHedgeInd | Hedge TerminatedHedgeTerminatedInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (no name) | |||||||||||||
| A | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| BANK OF AMERICA | |||||||||||||
| B | 0 | 0 | Yes (1) | 0 | Yes (1) | Yes (1) | 0 | 0 | 0 | NA | 23.750000000000 | 0 | 0 |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | 0 |
| B | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | A DRAFT COPY OF THE 990 IS GIVEN TO THE EXECUTIVE DIRECTOR AND THE BOARD MEMBERS FOR A PERIOD OF TIME FOR CHANGES BEFORE THE 990 IS FILED. THE FINAL FORM 990 IS PRESENTED AT THE PRECEEDING BOARD OF TRUSTEES MEETING AND ALL BOARD MEMBERS WERE PROVIDED A COPY TO REVIEW AND ASK QUESTIONS. |
| FORM 990, PART VI, SECTION B, LINE 15 | SALARIES ARE APPROVED BY LONGWOOD UNIVERSITY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | UNREALIZED LOSS ON INTEREST RATE SWAP 4,797,961. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|
| LONGWOOD HOUSING FOUNDATION LLC | ||||
| HOLDS TITLE TO 3 STUDENT HOUSING PROJECTS | VA | $10,752,467 | $42,513,629 | N/A |
| LONGWOOD WOODLAND POND HOUSING FOUNDATION LLC | ||||
| HOLDS TITLE TO CONDOMINIUM UNITS | VA | $107,340 | $1,714,876 | N/A |
| LONGWOOD WOODLAND POND DEVELOPMENT FOUNDATION LLC | ||||
| HOLDS TITLE TO UNDEVELOPED LAND | VA | $0 | $315,000 | N/A |
| LONGWOOD NORTH CAMPUS HOUSING LLC | ||||
| HOLDS TITLE TO STUDENT HOUSING PROJECTS | VA | $1,323,320 | $45,806,626 | N/A |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONGWOOD UNIVERSITY | BusinessNameLine1 |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 HIGH STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23909 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 546001788 | EIN |
| Primary Activities | HIGHER EDUCATION | PrimaryActivitiesTxt |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Exempt Code Section | STATE GOVERNMENT | ExemptCodeSectionTxt |
| Public Charity Status | LINE 6 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (1) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |