2023-11-15T14:57:14-06:00 2022-12-31 541967771 CAVANAUGH NELSON PLC 999 WATERSIDE DRIVE SUITE 2250 NORFOLK VA 23510 990 2022-01-01 203950078 TIDEWATER COMMUNITY COLLEGE REAL ESTATE FOUNDATION INC TIDE 7578221726 121 COLLEGE PLACE 5TH FLOOR 510 NORFOLK VA 23510 PHILIP H PAGE JR DIRECTOR 7578221726 2023-11-15 1 PHILIP PAGE JR XXX-XX-XXXX 0 MARK A NELSON P00358004 7575784900 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHILIP H PAGE JR 121 COLLEGE PLACE 5TH FLOOR 510 NORFOLK VA 23510 2899403 0 X N/A X 2006 VA TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF TIDEWATER COMMUNITY COLLEGE. 16 15 0 15 0 0 1000 1000 245381 553011 587206 39996 139055 143418 972642 737425 0 0 0 0 0 0 0 0 0 583810 687790 583810 687790 388832 49635 15742597 20873831 3523694 9542876 12218903 11330955 TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF TIDEWATER COMMUNITY COLLEGE. 0 0 548323 553011 MATTERS PERTAINING TO REAL ESTATE PROPERTY FOR THE BENEFIT OF TIDEWATER COMMUNITY COLLEGE. 548323 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 VA X TIDEWATER COMMUNITY COLLEGE 7578221548 121 COLLEGE PLACE 5TH FLOOR STE 510 NORFOLK VA 23510 MARCIA CONSTON TCC PRESIDENT 1.00 40.00 X 0 278067 60738 PRESCOTT SHERROD CHAIR 1.00 0.00 X X 0 0 0 W CHRISTOPHER HARVEY VICE CHAIR 1.00 0.00 X X 0 0 0 JIM SPORE SECRETARY 1.00 0.00 X X 0 0 0 GORDON PARKER TREASURER 1.00 0.00 X X 0 0 0 JEFF AINSLIE DIRECTOR 1.00 0.00 X 0 0 0 ALLISON DUNLEAVY DIRECTOR 1.00 0.00 X 0 0 0 ASHTON LEWIS SR - ENDED 922 DIRECTOR 1.00 0.00 X 0 0 0 JOHN D PADGETT DIRECTOR 1.00 0.00 X 0 0 0 JANE SHORT DIRECTOR 1.00 0.00 X 0 0 0 DANIEL SPEIGHT DIRECTOR 1.00 0.00 X 0 0 0 STEVEN C WRIGHT DIRECTOR 1.00 0.00 X 0 0 0 JOHN ROWE TCC EDUCATION FOUNDATION DESIGNEE 1.00 0.00 X 0 0 0 LYNN B CLEMENTS TCC COLLEGE BOARD DESIGNEE 1.00 0.00 X 0 0 0 LEE B ARMISTEAD DIRECTOR 1.00 0.00 X 0 0 0 DORCAS HELFANT-BROWING DIRECTOR 1.00 0.00 X 0 0 0 BURRELL F SAUNDERS DIRECTOR 1.00 0.00 X 0 0 0 KATHY H DRUMM LIASON TO REAL ESTATE FOUNDATION 30.00 10.00 X 0 84238 7548 0 362305 68286 0 0 1 0 SB BALLARD CONSTRUCTION COMPANY 2828 SHIPPS CORNER RD VIRGINIA BEACH VA 23453 BUILDING RENOVATION AND DESIGN 4505609 1 1000 1000 RENTAL INCOME 531120 553011 553011 553011 144100 144100 155400 11982 143418 143418 143418 2045892 2149996 -104104 -104104 -104104 737425 553011 0 183414 44954 11697 33257 15750 15750 25891 25891 86712 48790 37922 84 84 8214 8214 240583 240583 4515 4515 850 850 211779 211779 3157 3157 REPAIRS & MAINTENANCE 32074 32074 PERSONNEL SERVICES 10000 10000 OTHER 3227 2550 677 687790 548323 139467 0 312268 296748 20861 14656 17008450 2096380 8856993 14912070 6552475 5650357 15742597 20873831 242496 884837 273041 272706 3008157 8385333 3523694 9542876 X 12218903 11330955 12218903 11330955 15742597 20873831 49635 -937583 0 X X 0 1 X 1 0 X X 1 TIDEWATER COMMUNITY COLLEGE 541268286 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X PART IV, SECTION E, LINE 1C 1) THE FOUNDATION SUPPORTS TIDEWATER COMMUNITY COLLEGE (TCC), A GOVERNMENTAL ENTITY BY PROVIDING TCC THE USE OF FALICILITIES AND LAND AT THE FOUNDATION'S PROPERTY IN SUFFOLK AT THE ANNUAL COST OF EXPENSES TO THE FOUNDATION. THE FOUNDATION PROVIDES TCC WITH OFFICE SPACE IN PROPERTY OWNED BY THE FOUNDATION AT TCCREF'S COST (E G, CONDOMINIUM FEE, PROPERTY TAX, & INSURANCE). THE FOUNDATION HAS ALSO MADE RENOVATIONS TO PROPERTY OWNED BY THE FOUNDATION TO BE USED BY THE COLLEGE FOR ACADEMIC CLASSES. PART IV, SECTION D, LINE 3 THE PRESIDENT OF TIDEWATER COMMUNITY COLLEGE IS AN APPOINTED MEMBER TO THE BOARD OF THE FOUNDATION. THE PRESIDENT IS AN ACTIVE MEMBER OF THE BOARD AND HAS A SIGNIFICANT VOICE IN THE FOUNDATION'S INVESTMENT POLICIES AND IN DIRECTING THE USE OF THE FOUNDATION'S INCOME OR ASSETS AT ALL TIMES DURING THE YEAR. 706848 706848 6045825 2096380 3949445 10255777 10255777 14912070 X -36848 -937583 177219 -760364 723516 25891 -11982 13909 737425 851100 177219 11982 189201 661899 25891 25891 687790 PART X, LINE 2: THE TCC REAL ESTATE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THE TCC REAL ESTATE FOUNDATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AS OF DECEMBER 31, 2022. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE TCC REAL ESTATE FOUNDATION HAD NO UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2022 AND 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL INCOME -11,982. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL INCOME 11,982. 0 0 0 0 0 0 0 0 0 MARCIA CONSTON TCC PRESIDENT 0 247034 0 1000 0 30033 0 44661 0 16077 0 338805 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY FINANCIAL SERVICES AND THE EXECUTIVE DIRECTOR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO CERTIFY ANNUALLY THAT EACH HAS REVIEWED THE PROVISIONS. IN THE EVENT OF A CONFLICT, THE DIRECTOR OR OFFICER WILL REFRAIN FROM CONSIDERATION OF THE PROPOSED TRANSACTION. DIRECTORS OR OFFICERS WITH CONFLICTS SHOULD NOT VOTE ON THE TRANSACTION, PARTICIPATE IN THE DISCUSSION REGARDING THE TRANSACTION, OR BE PRESENT AT THE TIME OF THE VOTE, UNLESS EXPRESSLY REQUESTED TO REMAIN. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION MAKES GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 15 A: THE FOUNDATION HAS NO FULL-TIME EMPLOYEES. ALL PERSONNEL IN SUPPORT OF THE FOUNDATION ARE EMPLOYEES OF THE TIDEWATER COMMUNITY COLLEGE, A RELATED ORGANIZATION, AND ARE SUBJECT TO THE COMPENSATION POLICIES OF THE COLLEGE. THE COLLEGE REVIEWS THE COMPENSATION OF ITS KEY EMPLOYEES ON AN ANNUAL BASIS TO ENSURE THAT COMPENSATION IS REASONABLE. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED. TIDEWATER COMMUNITY COLLEGE 121 COLLEGE PLACE NORFOLK VA 23510 511268286 EDUCATION VA GOVERNMENT 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 TIDEWATER COMMUNITY COLLEGE J 553011 FAIR MARKET VALUE TIDEWATER COMMUNITY COLLEGE O 177219 FAIR MARKET VALUE PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS: NAME OF RELATED ORGANIZATION: TIDEWATER COMMUNITY COLLEGE PRIMARY ACTIVITY: TO SUPPORT AND ASSIST TIDEWATER COMMUNITY COLLEGE WITH REAL ESTATE ACQUISITIONS.