Virginia Tech Real Estate Fdn
- Assets
- $231.6m
- Revenue
- $16.9m
- Investments
- $30.2m
- Employees
- 0
- Location
- Blacksburg, VA
- Founding
- 08/1990
- Data as of
- 06/2021
- EIN
- 54-1528809
Organization Overview
Virginia Tech Real Estate Fdn is located in Blacksburg, VA. The organization was established in 1990. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Tech Real Estate Fdn 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 06/2021, Virginia Tech Real Estate Fdn generated $16.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $8.9m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION ENGAGES IN ANY AND ALL MATTERS PERTAINING TO CERTAIN REAL PROPERTY FOR THE BENEFIT OF VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY (VIRGINIA TECH).
Describe the Organization's Program Activity:
Part 3 - Line 4a
VTREF ENGAGED IN ACTIVITIES PERTAINING TO THE OWNERSHIP, DEVELOPMENT AND OPERATION OF VARIOUS PROPERTIES IN SUPPORT OF VIRGINIA TECH AND VIRGINIA TECH FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Hanson West Jr Chairman | OfficerTrustee | 2 | $0 |
Dr John E Dooley President | OfficerTrustee | 2 | $0 |
Christopher J Brightman Director | Trustee | 2 | $0 |
Deseria Creighton-Barney Director | Trustee | 2 | $0 |
Jay S Poole Director | Trustee | 2 | $0 |
Dr Timothy D Sands Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kesler Contracting & Property Management Construction Services | 6/29/21 | $120,627 |
Wm Jordan Development Llc Construction Services | 6/29/21 | $5,464,611 |
Janitorial Maintenance Solutions Inc Janitorial Services | 6/29/21 | $257,948 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $16,821,348 |
| Investment income | $55,490 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,876,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,775 |
| Pension plan accruals and contributions | $11,797 |
| Other employee benefits | $39,715 |
| Payroll taxes | $7,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,657 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $672,058 |
| Advertising and promotion | $5,000 |
| Office expenses | $25,524 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $653,718 |
| Travel | $21,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,653,355 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,095,878 |
| Insurance | $92,704 |
| All other expenses | $3,832 |
| Total functional expenses | $8,935,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,040,643 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $353,088 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,737,739 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $162,138 |
| Net Land, buildings, and equipment | $139,160,673 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,178,347 |
| Investments—program-related | $0 |
| Intangible assets | $349,250 |
| Other assets | $43,630,729 |
| Total assets | $231,612,607 |
| Accounts payable and accrued expenses | $86,073 |
| Grants payable | $0 |
| Deferred revenue | $2,399,840 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $147,352,023 |
| Other liabilities | $5,151,728 |
| Total liabilities | $154,989,664 |
| Net assets without donor restrictions | $71,954,975 |
| Net assets with donor restrictions | $4,667,968 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $231,612,607 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Forward Dc Washington, DC | $28,133,967 | $25,991,844 |
Mason Korea Llc Fairfax, VA | $8,225,008 | $12,324,735 |
Virginia Tech Real Estate Fdn Blacksburg, VA | $231,612,607 | $16,876,838 |
Building Hope Real Estate Washington, DC | $105,552,493 | $11,148,900 |
Charter School Incubator Initiative Washington, DC | $37,834,831 | $8,281,364 |
Council For Opportunity In Education Washington, DC | $3,201,325 | $8,308,398 |
Alliance For Academic Internal Medicine Inc Alexandria, VA | $13,744,999 | $6,917,370 |
Csdc Facilities Corporation Hanover, MD | $43,951,626 | $6,090,721 |
Citybridge Education Washington, DC | $3,430,657 | $5,924,866 |
Teaching Lab Washington, DC | $4,789,641 | $8,596,594 |
Fayette County Child Development Inc Oak Hill, WV | $1,256,000 | $4,245,853 |
Jackson Foundation Inc Dickson, TN | $81,442,128 | $3,275,608 |