LONGWOOD UNIVERSITY REAL ESTATE FOUNDATION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- LONGWOOD UNIVERSITY REAL ESTATE FOUNDATION (EIN 20-1612906)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-11-14
- IRS object ID
- 201123189349306312
- Schema version
- 2010v3.4
- 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 | 2011-11-14T15:40:18-06:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DIXON HUGHES GOODMAN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4510 COX ROAD SUITE 200 | AddressLine1 |
| City | GLEN ALLEN | City |
| State | VA | State |
| ZIP Code | 230603394 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 201612906 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONGWOOD UNIVERSITY REAL ESTATE FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | LONG | NameControl |
| Phone | 4343952086 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 515 E MAIN STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23909 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | P KENNETH COPELAND JR | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 4343952086 | Phone |
| Date Signed | 2011-11-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JANET L BROCKLEHURST CPA | Name |
| Phone | 8042827636 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | P KENNETH COPELAND JR | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 515 E MAIN STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23909 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 5911287 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | N/A | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2004 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | TO ACQUIRE, HOLD, AND MANAGE REAL ESTATE FOR LONGWOOD UNIVERSITY. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 7 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 221747 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 5224669 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 5738321 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -8678 | InvestmentIncomePriorYear |
| Investment Income Current Year | 16339 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 804 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 5437738 | TotalRevenuePriorYear |
| Total Revenue Current Year | 5755464 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 191772 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 202557 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 5938354 | OtherExpensePriorYear |
| Other Expenses Current Year | 6238897 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 6130126 | TotalExpensesPriorYear |
| Total Expenses Current Year | 6441454 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -692388 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -685990 | RevenuesLessExpensesCY |
| Total Assets BOY | 50365583 | TotalAssetsBOY |
| Total Assets EOY | 50857707 | TotalAssetsEOY |
| Total Liabilities BOY | 55543200 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 58415146 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -5177617 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -7557439 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE FOUNDATION RECEIVES, MAINTAINS, AND ADMINISTERS REAL ESTATE ASSETS AND ACTIVITIES IN SUPPORT OF THE ADVANCEMENT AND TO FURTHER THE AIMS AND PURPOSES OF LONGWOOD UNIVERSITY. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 6404025 | Expense |
| Revenue | 5736098 | Revenue |
| Description | ALL EXPENSES OF THE ORGANIZATION RELATE TO THE ACQUISITION AND MANAGEMENT OF REAL ESTATE FOR THE BENEFIT OF LONGWOOD UNIVERSITY. | Description |
| Total Program Service Expense | 6404025 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 1 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Form8899 Filed | 0 | Form8899Filed |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 7 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 0 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 0 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | P KENNETH COPELAND | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4343952086 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 515 MAIN STREET | AddressLine1 |
| City | FARMVILLE | City |
| State | VA | State |
| ZIP Code | 23909 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (14 entries)
| TitleTitle | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Average Hours Per WeekAverageHoursPerWeek |
|---|---|---|---|---|---|---|
| OTIS BROWN | ||||||
| PRESIDENT | X | X | 0 | 0 | 0 | |
| KATHY S WORSTER | ||||||
| EX-OFFICIO | X | 0 | 0 | 0 | ||
| RICHARD W BRATCHER | ||||||
| EX-OFFICIO | X | 0 | 0 | 0 | ||
| BARRY J CASE | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| E DUFFY MYRTETUS | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| LOUISE WALLER | ||||||
| EX-OFFICIO | X | 0 | 0 | 0 | ||
| TIM J PIERSON | ||||||
| EX-OFFICIO | X | 0 | 0 | 0 | ||
| DR HELEN P WARRINER-BURKE | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| HUNTER WATSON | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| RAYMOND E BRANN | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| SHERRY SWINSON | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| THOMAS M BAILEY | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| CLAIRE REEVES LA ROCHE | ||||||
| DIRECTOR | X | 0 | 0 | 0 | ||
| P KENNETH COPELAND | ||||||
| EXECUTIVE DIRECTOR | X | 0 | 103854 | 21906 | 40.00 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 103854 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 21906 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ENGLISH CONSTRUCTION | |||||
| 615 CHURCH STREET | LYNCHBURG | VA | 24504 | CONSTRUCTION OF FACILITIES | 1377329 |
| HAROLD COLLINS CLEARING & GRADING | |||||
| 2113 CUMBERLAND ROAD | FARMVILLE | VA | 23901 | CONSTRUCTION OF FACILITIES | 224550 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| RENT | 531110 | 5648534 | 5648534 |
| PARKING | 531390 | 89787 | 89787 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 5738321 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 18562 | TotalRevenueColumn |
| Exclusion | $18,562 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 153600 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 155823 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -2223 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -2223 | TotalRevenueColumn |
| Related Or Exempt Function Income | -2223 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MISCELLANEOUS INCOME | Description |
| Business Code | 531390 | BusinessCode |
| Total Revenue Column | 804 | TotalRevenueColumn |
| Exclusion | $804 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 804 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 5755464 | TotalRevenueColumn |
| Related Or Exempt Function Income | 5736098 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $19,366 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 97854 | Total |
| Program Services | 88069 | ProgramServices |
| Management And General | 9785 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 104703 | Total |
| Program Services | 94232 | ProgramServices |
| Management And General | 10471 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 404175 | Total |
| Program Services | 404175 | ProgramServices |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 21341 | Total |
| Program Services | 17073 | ProgramServices |
| Management And General | 4268 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25800 | Total |
| Program Services | 20640 | ProgramServices |
| Management And General | 5160 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13396 | Total |
| Program Services | 10717 | ProgramServices |
| Management And General | 2679 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 855 | Total |
| Program Services | 855 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 34223 | Total |
| Program Services | 33793 | ProgramServices |
| Management And General | 430 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1601877 | Total |
| Program Services | 1601877 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 927 | Total |
| Program Services | 834 | ProgramServices |
| Management And General | 93 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4420 | Total |
| Program Services | 1292 | ProgramServices |
| Management And General | 3128 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2132152 | Total |
| Program Services | 2132152 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1768643 | Total |
| Program Services | 1768643 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 119398 | Total |
| Program Services | 119398 | ProgramServices |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| CONTRIBUTIONS TO LONGWO | 51917 | 51917 | |
| CONDOMINIUM ASSOCIATION | 45625 | 45625 | |
| OTHER EXPENSE | 14148 | 12733 | 1415 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6441454 | Total |
| Program Services | 6404025 | ProgramServices |
| Management And General | 37429 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 224398 | BOY |
| EOY | 237938 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 304409 | BOY |
| EOY | 302458 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9926 | BOY |
| EOY | 23225 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 52131897 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 6429190 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 45540592 | BOY |
| EOY | 45702707 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 640403 | BOY |
| EOY | 640403 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3645855 | BOY |
| EOY | 3950976 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50365583 | BOY |
| EOY | 50857707 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 709210 | BOY |
| EOY | 487325 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41200000 | BOY |
| EOY | 40745000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13633990 | BOY |
| EOY | 17182821 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55543200 | BOY |
| EOY | 58415146 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -5177617 | BOY |
| EOY | -7557439 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -5177617 | BOY |
| EOY | -7557439 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50365583 | BOY |
| EOY | 50857707 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -685990 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -1693832 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type2 | X | SupportingOrg509a3Type2 |
| Certification Checkbox | X | CertificationCheckbox |
| Contrib By Controlling Individual | 0 | ContribByControllingIndividual |
| Contribution By Related Party | 0 | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | 0 | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONGWOOD UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 546001788 | EIN |
| Type Of Organization | 6 | TypeOfOrganization |
| Listed In Governing Doc | 1 | ListedInGoverningDoc |
| Organized In US | 1 | OrganizedInUS |
| Amount | $0 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 1 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 0 | SumOfAmounts |
| General Explanation | SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: IN SUPPORT OF SCHEDULE A, PART I, LINE 11H, COLUMN VII - THERE IS NO MONETARY SUPPORT BECAUSE THE FOUNDATION PROVIDES LEASING OF STUDENT HOUSING AND OTHER STUDENT RELATED FACILITIES TO LONGWOOD UNIVERSITY (THE SUPPORTED ORGANIZATION). THEREFORE, IN LIEU OF MONETARY SUPPORT, THE FOUNDATION PROVIDED ACCESS TO THE FACILITIES UNDER LEASE AGREEMENTS, AND PAID TO LONGWOOD UNIVERSITY, MANAGEMENT FEES AND OTHER ANCILLARY SERVICE FEES THAT WERE PROVIDED BY THE UNIVERSITY. SEE SCHEDULE R. | GeneralExplanation |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7153857 | OtherCostOrOtherBasis |
| Book Value | 7153857 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 30964878 | OtherCostOrOtherBasis |
| Depreciation | 4628073 | Depreciation |
| Book Value | 26336805 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11135258 | OtherCostOrOtherBasis |
| Depreciation | 927998 | Depreciation |
| Book Value | 10207260 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2112356 | OtherCostOrOtherBasis |
| Depreciation | 873119 | Depreciation |
| Book Value | 1239237 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 765548 | OtherCostOrOtherBasis |
| Book Value | 765548 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 45702707 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets (5 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| DUE FROM LONGWOOD UNIVERSITY | 294550 |
| NET LOAN COSTS | 1294081 |
| RESTRICTED DEPOSITS AND FUNDED RESERVES | 2301845 |
| DUE FROM LONGWOOD UNIVERSITY FOUNDATION | 54000 |
| OTHER ASSETS | 6500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 3950976 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| LINE OF CREDIT | $6,928,954 |
| LONG TERM DEBT | $3,079,981 |
| SWAP VALUATION | $7,171,986 |
| DEFFERED INCOME | $1,900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 17182821 | TotalOfAmounts |
| Total Revenue | 5755464 | TotalRevenue |
| Total Expenses | 6441454 | TotalExpenses |
| Excess Or Deficit For Year | -685990 | ExcessOrDeficitForYear |
| Other | -$1,693,832 | OtherAmount |
| Total Adjustments | -1693832 | TotalAdjustments |
| Excess Or Deficit Per FS | -2379822 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 4061632 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | -1693832 | OtherRevenues |
| Revenue Not Rptd F990 | -1693832 | RevenueNotRptdF990 |
| Revenue Subtotal | 5755464 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 5755464 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 6441454 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 6441454 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 6441454 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | 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 FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2010. FISCAL YEARS ENDING ON OR AFTER DECEMBER 31, 2010 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | UNREALIZED LOSS ON INTEREST RATE SWAP -1,693,832. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | UNREALIZED LOSS ON INTEREST RATE SWAP -1,693,832. |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF FARMVILLE VIRGINIA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| CUSIP Number | 311617AD6 | CUSIPNumber |
| Date Issued | 2007-12-07 | DateIssued |
| Issue Price | 41855000 | IssuePrice |
| Description Of Purpose | TO FINANCE AQUISITION OF PROPERTY HELD FOR BENEFIT OF LONGWOOD UNIVERSITY | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Proceeds | 41855000 | TotalProceeds |
| Amount In Reserve Fund | 1366848 | AmountInReserveFund |
| Issuance Costs From Proceeds | 1376527 | IssuanceCostsFromProceeds |
| Capital Expenditures | 33982 | CapitalExpenditures |
| Year Of Subst Completion | 2010 | YearOfSubstCompletion |
| Current Refunding | 1 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Post Issuance Compliance Procdrs | 0 | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 1 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BANK OF | BusinessNameLine1 |
| Business Name Line2 | AMERICA/MERRILL | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 26.750000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 WAS PRESENTED AT A BOARD OF TRUSTEES MEETING AND ALL BOARD MEMBERS WERE PROVIDED A COPY TO REVIEW AND ASK QUESTIONS. | |
| SALARIES ARE APPROVED BY LONGWOOD UNIVERSITY. | FORM 990, PART VI, SECTION B, LINE 15 | |
| THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 | |
| THE EXECUTIVE DIRECTOR'S COMPENSATION INCLUDES A $6,000 STIPEND PAID BY LONGWOOD UNIVERSITY FOR HIS SERVICES AS AN ADJUNCT PROFESSOR IN THE BUSINESS SCHOOL. | FORM 990, PART VII, SECTION A, LINE 1A: | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | UNREALIZED LOSS ON INTEREST RATE SWAP -1,693,832. TOTAL TO FORM 990, PART XI, LINE 5: -1,693,832. | FORM 990, PART XI, LINE 5: |
| THERE WERE NO CHANGES TO THE PROCESS DURING 2010. | FORM 990, PART XIII, LINE 2C: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (3 entries)
| Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Direct Controlling Entity NADirectControllingEntityNA |
|---|---|---|---|---|
| LONGWOOD HOUSING FOUNDATION LLC | ||||
| HOLDS TITLE TO 3 STUDENT HOUSING PROJECTS | VA | 3912934 | 40426775 | N/A |
| LONGWOOD WOODLAND POND HOUSING FOUNDATION LLC | ||||
| HOLDS TITLE TO CONDOMINIUM UNITS | VA | 52112 | 1626908 | N/A |
| LONGWOOD WOODLAND POND DEVELOPMENT FOUNDATION LLC | ||||
| HOLDS TITLE TO UNDEVELOPED LAND | VA | 0 | 315000 | N/A |
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LONGWOOD UNIVERSITY | BusinessNameLine1 |
Address US AddressUS
| 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 | PrimaryActivities |
| Legal Domicile State | VA | LegalDomicileState |
| Exempt Code Section | STATE GOVERNMENT | ExemptCodeSection |
| Public Charity Status | LINE 6 | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 1 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 1 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 1 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 1 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 1 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |