L S U Property Foundation
- Assets
- $13.9m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Baton Rouge, LA
- Founding
- 02/1996
- Data as of
- 06/2022
- EIN
- 72-1295979
Organization Overview
L S U Property Foundation is located in Baton Rouge, LA. The organization was established in 1996. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. L S U Property 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 06/2022, L S U Property Foundation generated $5.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $6.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER PRIVATE FINANCIAL SUPPORT VIA GIFTS OF REAL ESTATE AND EQUIPMENT FOR LSU AND THE LSU AGRICULTURAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF STUDENT-CENTRIC RETAIL FOR THE NICHOLSON GATEWAY PROJECT, WHICH PROVIDES HOUSING FOR UPPER-CLASS GRADUATE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Billy W Harrison III Chairperson | OfficerTrustee | 0.05 | $0 |
Clarence Cazalot Director | Trustee | 0.05 | $0 |
Laura Dauzat Director | Trustee | 0.05 | $0 |
Roger Jenkins Director | Trustee | 0.05 | $0 |
Marty Phillips Director | Trustee | 0.05 | $0 |
Robert M Stuart Jr President & CEO | Officer | 0.05 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rise Tigers Llc Construction Services On Roadway Project | 6/29/22 | $228,643 |
Explus Incorporated Construction Services On Memorial Tower | 6/29/22 | $124,187 |
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 | $2,524,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,524,022 |
| Total Program Service Revenue | $0 |
| Investment income | $1,093 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,995,069 |
| 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 | $5,520,184 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,379,524 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $185 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,001 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $127,809 |
| Payments to affiliates | $4,429,517 |
| Depreciation, depletion, and amortization | $673,797 |
| Insurance | $0 |
| All other expenses | $125,976 |
| Total functional expenses | $6,741,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $576,824 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,218 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,766,854 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $405,865 |
| Total assets | $13,863,761 |
| Accounts payable and accrued expenses | $422,187 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,854,924 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,777 |
| Total liabilities | $3,346,888 |
| Net assets without donor restrictions | $10,488,845 |
| Net assets with donor restrictions | $28,028 |
| 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 | $13,863,761 |