Old Dominion University Real Estate Foundation
- Assets
- $82.1m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 01/1995
- Data as of
- 12/2021
- EIN
- 54-1744996
Organization Overview
Old Dominion University Real Estate Foundation is located in Norfolk, VA. The organization was established in 1995. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Dominion University Real Estate 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, Old Dominion University Real Estate Foundation generated $4.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. 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 OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS.. SEE SUPPLEMENTAL INFORMATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
AQUIRE, DEVELOP, AND MANAGE PROPERTY IN FURTHERANCE OF THE GOALS, MISSION AND OBJECTIVES OF OLD DOMINION UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George L Consolvo Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Teresa C Peters Vice Chair | OfficerTrustee | 0.5 | $0 |
Lisa F Chandler Chair | OfficerTrustee | 0.8 | $0 |
Tara Saunders Executive Director | Officer | 40 | $0 |
Donna Manglicmot Assistant Secretary | Officer | 13 | $0 |
Margaret Libby Assistant Treasurer | Officer | 9 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clancy Theys Construction Company Construction | 12/30/19 | $1,109,014 |
Acorn Sign Graphics Signage | 12/30/19 | $175,380 |
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 | $259,685 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $259,685 |
| Total Program Service Revenue | $0 |
| Investment income | $2,332 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $300,711 |
| Net Gain/Loss on Asset Sales | $3,723,320 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,286,048 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $184,238 |
| 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. | $293,127 |
| Compensation of current officers, directors, key employees. | $213,188 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $675 |
| Fees for services: Accounting | $57,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,766 |
| Information technology | $11,470 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $27 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $632 |
| Interest | $2,005,759 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $265 |
| Insurance | $21,395 |
| All other expenses | -$53,105 |
| Total functional expenses | $3,602,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,000 |
| Savings and temporary cash investments | $2,300,352 |
| Pledges and grants receivable | $3,914,811 |
| Accounts receivable, net | $1,106,585 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,011,586 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $32,062,515 |
| Investments—publicly traded securities | $3,412,817 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,992,125 |
| Total assets | $82,050,791 |
| Accounts payable and accrued expenses | $380,173 |
| Grants payable | $0 |
| Deferred revenue | $235,486 |
| Tax-exempt bond liabilities | $45,265,987 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,753,383 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,609,144 |
| Total liabilities | $62,244,173 |
| Net assets without donor restrictions | $13,345,064 |
| Net assets with donor restrictions | $6,461,554 |
| 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 | $82,050,791 |
Grants Awarded
Over the last fiscal year, Old Dominion University Real Estate Foundation has awarded $184,238 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Norfolk, VA PURPOSE: To assist the activities and objectives of ODU Museum Foundation. | $172,707 |
OLD DOMINION UNIVERSITY PURPOSE: To Assist the Activities of the Old Dominion University | $11,531 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Old Dominion University Real Estate Foundation has recieved totaling $75,000.
| Awarding Organization | Amount |
|---|---|
Old Dominion University Educational Foundation Norfolk, VA PURPOSE: To assist with the activities and objectives of Old Dominion University Real Estate Foundation. | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Executive Leadership Council Inc Washington, DC | $54,122,664 | $27,390,915 |
Stoddard Baptist Home Washington, DC | $9,543,224 | $16,392,235 |
Voter Registration Project Washington, DC | $11,195,050 | $17,087,982 |
Yum Brands Foundation Inc Louisville, KY | $62,047,633 | $1,353,894 |
Robert F Kennedy Center For Justice And Human Rights Washington, DC | $60,116,357 | $7,527,165 |
Mvle Inc Springfield, VA | $9,312,046 | $13,677,162 |
Valley Health Care Inc Mill Creek, WV | $12,122,859 | $14,871,772 |
Potomac Institute For Policy Studies Arlington, VA | $5,742,038 | $10,808,828 |
The Daily Planet Inc Richmond, VA | $12,184,739 | $13,097,113 |
Target Community & Educational Services Inc Westminster, MD | $11,202,014 | $11,395,481 |
National Association Of Landscape Professionals Inc Fairfax, VA | $7,212,406 | $10,869,487 |
Bill Of Rights Institute Arlington, VA | $5,390,472 | $9,362,557 |