University Development Foundation
- Assets
- $499.5k
- Revenue
- $124.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Woodland, CA
- Founding
- 05/2001
- Data as of
- 12/2021
- EIN
- 31-1708531
Organization Overview
University Development Foundation is located in Woodland, CA. The organization was established in 2001. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, University Development Foundation generated $124.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $99.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY DEVELOPMENT FOUNDATION IS A NONPROFIT ORGANIZATION FORMED TO HELP DEVELOP A PRIVATE UNIVERSITY IN PLACER COUNTY, CALIFORNIA. ACTIVITIES PRIOR TO 2021 HAD BEEN PRIMARILY LIMITED TO A DONATION OF LAND, A PORTION OF WHICH IS TO SERVE AS THE UNIVERSITY CAMPUS. THE REMAINDER WAS TO BE SOLD AS A RESIDENTIAL COMMUNITY DEVELOPMENT TO GENERATE FUNDS FOR AN ENDOWMENT FUND FOR THE UNIVERSITY.IN 2021, UNIVERSITY DEVELOPMENT FOUNDATION DONATED/SOLD THE LAND TO HILLSDALE COLLEGE (A PUBLIC CHARITY) FOR DEVELOPMENT OF THE UNIVERSITY. THE SPLIT OF THIS TRANSACTION WAS INTENDED TO COVER OUTSTSANDING DEBT ON THE PROPERTY AND TRANSACTIONAL EXPENSES WITH THE REMAINDER A DONATION TO HILLSDALE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Dave Lucchetti Board Member | 1 | $0 | |
Mr Scott Powell Board Member | 1 | $0 | |
Kyriakos Tsakopoulos President | 10 | $0 | |
David Siegel Treasurer & Secretary | 2 | $0 | |
Hon Kevin Culhane Board Member | 1 | $0 | |
Dr Gregory Graves Board Member | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jr Hanson Consulting Llc | 12/30/21 | $117,000 |
Downey Brand Llp | 12/30/21 | $128,828 |
Ryan Claycomb | 12/30/21 | $100,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $96,030 |
| Net Gain on Sale of Assets | $28,701 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $124,731 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $8,776 |
| Taxes | $126,094 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $35,848 |
| Total operating and administrative expenses | $381,572 |
| Contributions, gifts, grants paid | $99,417,894 |
| Total expenses and disbursements | $99,799,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $499,472 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $499,472 |
| Accounts payable and accrued expenses | $445,365 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $445,365 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Development Foundation Woodland, CA | $499,472 | $124,731 |
The Planetary Society Pasadena, CA | $9,508,979 | $4,905,895 |
Prevention Institute Oakland, CA | $12,910,812 | $7,921,442 |
Society For The Study Of Native Arts & Sciences Berkeley, CA | $8,524,775 | $6,247,781 |
Undercurrent Inc San Rafael, CA | $5,890,053 | $8,348,585 |
Solve Me Cfs Initiative Inc Glendale, CA | $1,880,953 | $2,192,325 |
Unreported Story Society Marina Del Ray, CA | $399,103 | $3,017,560 |
Truthout Sacramento, CA | $881,852 | $2,314,333 |
Heyday Berkeley, CA | $2,111,683 | $2,251,217 |
Capital & Main Los Angeles, CA | $794,047 | $1,843,155 |
University Of California Press Foundation Oakland, CA | $23,332,542 | $983,531 |
Center For Accessible Technology Berkeley, CA | $1,757,069 | $1,896,017 |