UNIVERSITY DEVELOPMENT GROUP INC: Form 990EZ, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- UNIVERSITY DEVELOPMENT GROUP INC (EIN 26-3118684)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2013-10-31
- IRS object ID
- 201303049349200765
- Schema version
- 2012v2.3
- 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) |
|---|---|---|
| Timestamp | 2013-10-31T13:07:46-05:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCHLABIG & ASSOCIATES LTD | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2275 STATE ROUTE 59 | AddressLine1 |
| City | KENT | City |
| State | OH | State |
| ZIP Code | 442407143 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990EZ | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 263118684 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY DEVELOPMENT GROUP INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | UNIV | NameControl |
| Phone | 3306785203 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 333 | AddressLine1 |
| City | KENT | City |
| State | OH | State |
| ZIP Code | 44240 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MICHAEL DREW | Name |
| Title | PRESIDENT | Title |
| Phone | 3306785203 | Phone |
| Date Signed | 2013-10-29 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | THOMAS R HAGER CPA | Name |
| Phone | 3306785203 | Phone |
| Date Prepared | 2013-10-29 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990-EZ IRS990EZ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Cash | X | MethodOfAccountingCash |
| Schedule B Not Required | X | ScheduleBNotRequired |
| Web Site | N/A | WebSite |
| Organization501c3 | X | Organization501c3 |
| Gross Receipts | 141080 | GrossReceipts |
| Info In Schedule O Part I | X | InfoInScheduleOPartI |
| Program Service Revenue | 140934 | ProgramServiceRevenue |
| Investment Income | 146 | InvestmentIncome |
| Total Revenue | 141080 | TotalRevenue |
| Fees And Oth Pymt To Ind Contractors | 11020 | FeesAndOthPymtToIndContractors |
| Printing Publications Postage | 129 | PrintingPublicationsPostage |
| Other Expenses Total | 121096 | OtherExpensesTotal |
| Total Expenses | 132245 | TotalExpenses |
| Excess Or Deficit For Year | 8835 | ExcessOrDeficitForYear |
| Net Assets Or Fund Balances BOY | 215521 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 224356 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part II | X | InfoInScheduleOPartII |
Cash Savings And Investments CashSavingsAndInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 135156 | BOY |
| EOY | 150420 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 80365 | BOY |
| EOY | 73936 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 215521 | BOY |
| EOY | 224356 | EOY |
Net Assets Or Fund Balances NetAssetsOrFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 215521 | BOY |
| EOY | 224356 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| 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. | PrimaryExemptPurpose |
Program Service Accomplishment ProgramServiceAccomplishment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Program Service 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. | DescriptionProgramServiceAccom |
| Program Service Expenses | 123655 | ProgramServiceExpenses |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | 123655 | TotalProgramServiceExpenses |
Officer Director Trustee Key Empl OfficerDirectorTrusteeKeyEmpl (3 entries)
| TitleTitle | Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition | CompensationCompensation |
|---|---|---|
| MICHAEL DREW | ||
| PRESIDENT | 3.00 | 3000 |
| LOWELL CROSKEY | ||
| DIRECTOR | 1.00 | 0 |
| RICHARD WORTHING | ||
| DIRECTOR | 1.00 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRpt |
| Made Changes To Orgnzng Etc Doc | false | MadeChangesToOrgnzngEtcDoc |
| Organization Had UBI | false | OrganizationHadUBI |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Organization Dissolved Etc | false | OrganizationDissolvedEtc |
| Did Org File Form1120 POL This Year | false | DidOrgFileForm1120POLThisYear |
| Made Loans To From Officers | false | MadeLoansToFromOfficers |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTrans |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| States Where Copy Of Return Is Filed | OH | StatesWhereCopyOfReturnIsFiled |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | MICHAEL A DREW | NamePerson |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 333 | AddressLine1 |
| Address Line2 | PO BOX 333 | AddressLine2 |
| City | KENT | City |
| State | OH | State |
| ZIP Code | 44240 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3302833822 | TelephoneNumber |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Financial Account | false | ForeignFinancialAccount |
| Foreign Office | false | ForeignOffice |
| Maintain Any Donor Advised Funds | false | MaintainAnyDonorAdvisedFunds |
| Does Org Have Hospital | false | DoesOrgHaveHospital |
| Tanning Services Provided | false | TanningServicesProvided |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction With Control Entity | false | TransactionWithControlEntity |
| Engage Political Cmpgn Activities | false | EngagePoliticalCmpgnActivities |
| Engage In Lobbying Activities | false | EngageInLobbyingActivities |
| Operating School | false | OperatingSchool |
| Trnsfrs Exempt Non Char Related Org | false | TrnsfrsExemptNonCharRelatedOrg |
| Part VI Of Comp Of Highest Paid Empl | NONE | PartVIOfCompOfHighestPaidEmpl |
| Part VIA Hghst Paid Cntrct Prof Ser | NONE | PartVIAHghstPaidCntrctProfSer |
| Filed Schedule A | true | FiledScheduleA |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 25000 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 243377 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 124290 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 176419 | CurrentTaxYearMinus1Year |
| Current Tax Year | 140934 | CurrentTaxYear |
| Total | 710020 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 25000 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 243377 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 124290 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 176419 | CurrentTaxYearMinus1Year |
| Current Tax Year | 140934 | CurrentTaxYear |
| Total | 710020 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | 710020 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 145 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 200 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 66 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 28 | CurrentTaxYearMinus1Year |
| Current Tax Year | 146 | CurrentTaxYear |
| Total | 585 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | 387 | CurrentTaxYearMinus2Years |
| Total | 387 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 710992 | TotalSupport |
| Gross Receipts From Admissions Etc | 140934 | GrossReceiptsFromAdmissionsEtc |
| First5 Years170 | X | First5Years170 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| OTHER EXPENSES | FORM 990-EZ, PART I, LINE 16 | EXPENSES OFFICE SUPPLIES 241 INSURANCE 5,978 MANAGEMENT FEES 107,548 BUSINESS REGISTRATIONS 200 FACILITIES EXPENSE 177 REPAIRS 523 NON-INVESTMENT DEPRECIATION 6,429 TOTAL 121,096 |
| OTHER ASSETS | FORM 990-EZ, PART II, LINE 24 | LEASEHOLD IMPROVEMENTS 192,877 192,877 LESS ACCUMULATED DEPRECIATION 112,512 118,941 BASIS IN START-UP COMPANIES 0 0 TOTAL 80,365 73,936 |
| PRIMARY EXEMPT PURPOSE | 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. |
| FIRST ACCOMPLISHMENT | 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. |
Compensation Explanation CompensationExplanation
Compensation Compensation (3 entries)
| MICHAEL DREW |
| LOWELL CROSKEY |
| RICHARD WORTHING |