2024-08-14T08:40:29-05:00 2023-12-31 BDO USA 300 E Main St Ste 1300 Norfolk VA 23510 990 2023-01-01 541744996 Old Dominion University Real Estate Foundatio % DIRECTOR OF ACCOUNTING/CFO OLDD 7576834524 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 TARA SAUNDERS EXECUTIVE DIRECTOR 7576834524 2024-08-08 true true Marc Berger P01871563 7576407190 2024-08-12 2023 2024-08-08 14:25:15Z TARA SAUNDERS 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 11919494 false X www.odu.edu/real-estate-foundation X 1995 VA SEE SCHEDULE O SUPPLEMENTAL INFORMATION FOR ORGANIZATION'S MISSION. 12 12 0 15 0 0 242033 533533 0 0 3646318 3703818 342217 462886 4230568 4700237 201752 233146 0 0 309000 332598 0 0 0 3151691 3047754 3662443 3613498 568125 1086739 77759835 74806870 52540868 48268591 25218967 26538279 THE OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. false false 3415886 233146 0 AQUIRE, DEVELOP, AND MANAGE PROPERTY IN FURTHERANCE OF THE GOALS, MISSION AND OBJECTIVES OF OLD DOMINION UNIVERSITY. 3415886 true true false false false false false false false true true false false false true true true true false false false false false false false false false true false true true false false false false false false false false false false false false false false true true false false false true 10 0 true 0 false false false false false false false false false false false false X 12 12 false false false false false true false true true false false true true true true true true false false false VA X DIRECTOR OF ACCOUNTINGCFO 7576834471 4417 MONARCH WAY 4TH FLOOR Norfolk VA 23529 X BRIAN HEMPHILL EX-OFFICIO 0.5 0.0 X 0 759985 64067 MICHAEL S LAROCK ASSISTANT TREASURER 9.0 0.0 X 0 191386 36500 TARA F SAUNDERS EXECUTIVE DIRECTOR 40.0 0.0 X 0 171493 38817 CINDY R GALL ASSISTANT SECRETARY 13.0 0.0 X 0 65462 20601 LISA F CHANDLER CHAIR 0.8 0.0 X X 0 0 0 JARED CHALK TRUSTEE 0.3 0.0 X 0 0 0 MILES LEON TRUSTEE 0.3 0.0 X 0 0 0 JOSEPH A LOWERY SECRETARY/TREASURER 0.5 0.0 X X 0 0 0 TERESA C PETERS VICE CHAIR 0.5 0.0 X X 0 0 0 KENNETH E RODMAN JR TRUSTEE 0.3 0.0 X 0 0 0 KAREN SHAFFER TRUSTEE 0.3 0.0 X 0 0 0 JEREMY R STARKEY TRUSTEE 0.3 0.0 X 0 0 0 DEBORAH K STEARNS TRUSTEE 0.3 0.0 X 0 0 0 NATHANIEL P TYLER TRUSTEE 0.3 0.0 X 0 0 0 STEVEN C WRIGHT TRUSTEE 0.3 0.0 X 0 0 0 GEORGE L CONSOLVO DIRECTOR EMERITUS 0.0 0.0 X 0 0 0 ROBERT L DEWEY DIRECTOR EMERITUS 0.0 0.0 X 0 0 0 LARRY R HILL TRUSTEE/BOV REPRESENTATIVE 0.5 0.0 X 0 0 0 0 1188326 159985 0 false true false SAUNDERS CROUSE ARCHITECTS LLC 222 CENTRAL PARK AVENUE SUITE 1610 VIRGINIA BEACH VA 23462 ARCHITECT & ENG SVCS 120750 1 100814 432719 533533 0 170337 170337 0 0 2998761 2535875 462886 0 462886 462886 4697766 3519097 4683382 14384 3519097 3533481 3533481 0 0 0 0 0 0 0 0 0 0 4700237 4166704 233146 233146 0 0 0 0 0 332598 266078 66520 0 0 0 0 21758 21758 75650 75650 0 0 2763 2763 112 112 0 1830 23 1807 12110 12110 0 0 2276 2276 0 1223 1223 1722231 1722231 0 2765 2765 22226 22226 REAL ESTATE TAXES 1097212 1097212 BOND FEE 41640 41640 ADMINISTRATION FEES 25814 25814 REPAIRS AND MAINTENANCE 3929 3894 35 14215 4913 9302 3613498 3415886 197612 0 250000 250000 2381055 2434697 3503401 2746677 1159315 1222027 0 0 0 0 33387608 30626791 0 0 0 0 34803372 3353689 31591068 31449683 2592521 2487040 0 0 0 0 0 0 2894867 3589955 77759835 74806870 476239 566254 0 0 175127 248933 41354490 37317993 0 0 0 0 9910715 9050885 0 0 624297 1084526 52540868 48268591 X 20025605 22305921 5193362 4232358 25218967 26538279 77759835 74806870 X 1086739 17030 215543 X X false true X true false X X 1 OLD DOMINION UNIVERSITY 546000884 6 true 0 409157 1 0 409157 true false false false false false false false false false false false false false false true true false X PART IV, SECTION E, LINE 1C: THE FOUNDATION WAS CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. PART IV, SECTION D, LINE 2: PART I LINE 12G REPORTS THE ESTIMATED FAIR MARKET VALUE OF THE DONATED USE OF FACILITIES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2522344 221442 25814 2717972 2784820 -236376 26100 2522344 2343756 466062 24998 2784820 2112289 251856 20389 2343756 1815446 317072 20229 2112289 1.00000 0.00000 0.00000 true false 19177409 0 19177409 13205947 0 2316522 10889425 1145762 0 330998 814764 471656 0 348522 123134 802598 0 357647 444951 31449683 0 OPERATING LEASE LIABILITY 474330 INTEREST RATE SWAP LIABILITY 361267 LEASE INCENTIVE LIABILITY 210000 SECURITY DEPOSIT 38929 1084526 X 7465922 17030 215543 232573 7233349 2763 -2535875 -2533112 4700237 6146610 2535875 2535875 3610735 2763 2763 3613498 PART XI, LINE 2D: PART XI LINE 2D INCLUDES THE CHANGE IN THE LIABILITY FOR INTEREST-RATE SWAPS -$5,899 AND THE CHANGE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION $221,442. PART XI, LINE 4B: PART XI LINE 4B IS THE SUM OF RENTAL EXPENSES REPORTED ON PART VIII LINE 6B $2,535,875. PART XII, LINE 2D: PART XII LINE 2D INCLUDES RENTAL EXPENSES REPORTED ON PART VIII LINE 6B $2,535,875. PART X, LINE 2: OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. EXEMPT ORGANIZATIONS ARE SUBJECT TO TAX ON INCOME FROM REGULARLY CONDUCTED TRADE OR BUSINESS ACTIVITIES THAT ARE NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSE. TAX YEARS BEFORE 2020 ARE NO LONGER SUBJECT TO EXAMINATIONS. MANAGEMENT CONTINUALLY EVALUATES TAX POSITIONS REFLECTED IN THE FOUNDATION'S TAX FILINGS AND DOES NOT BELIEVE THAT ANY MATERIAL UNCERTAIN TAX POSITIONS EXIST. OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION UNIVERSITY HOUSING, LLC AND OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION 45TH STREET PARKING GARAGE, LLC ARE ORGANIZED AS SINGLE-MEMBER LIMITED LIABILITY COMPANIES AND AS SUCH, ARE CONSIDERED DISREGARDED ENTITIES FOR INCOME TAX PURPOSES AND THEIR NET ASSETS AND ACTIVITIES ARE INCLUDED IN THE TAX RETURN OF OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION. true OLD DOMINION UNIVERSITY MUSEUM FOUNDATION 4417 MONARCH WAY NORFOLK VA 23529 812652321 501(c)(3) 233146 SEE PART IV 1 0 PART I, LINE 2: OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION PROVIDES A GIFT TO THE MUSEUM FOUNDATION FROM THE EXCESS AFTER DEBT PAYMENTS FOR THE MUSEUM BUILDING PER THE PLEDGE AGREEMENT. PART II, LINE 1H: TO ASSIST THE ACTIVITIES AND OBJECTIVES OF ODU MUSEUM FOUNDATION. false false false false false false false false false BRIAN HEMPHILL EX-OFFICIO 0 759985 0 0 0 0 0 41303 0 22764 0 824052 0 0 MICHAEL S LAROCK ASSISTANT TREASURER 0 191386 0 0 0 0 0 20972 0 15528 0 227886 0 0 TARA F SAUNDERS EXECUTIVE DIRECTOR 0 171493 0 0 0 0 0 30135 0 8682 0 210310 0 0 A Norfolk Redevelopment and Housing Authority 546001466 655909BS7 2015-07-29 44835000 PART VI SUPPLEMENTAL INFORMATION false true false B Norfolk Redevelopment and Housing Authority 546001466 655909BS7 2015-07-29 10605000 PART VI SUPPLEMENTAL INFORMATION false true false C Norfolk Airport Authority 546001465 000000000 2016-12-28 10000000 PART VI SUPPLEMENTAL INFORMATION false false false A 0 0 44835000 0 0 44835000 0 0 0 0 0 0 2004 true false true true B 0 0 10605000 0 0 10605000 0 0 0 0 0 0 2006 true false true true C 0 0 10000000 0 0 0 0 0 0 10000000 0 0 2018 false false true true A false false false false 0 true false false true B false false false false 0 true false false true C false false false false 0 true false false true A false true false false true true BANK OF AMERICA NA 24. false false false 0 false true B false true false false true true BANK OF AMERICA NA 24. false false false 0 false true C false true false false true false 0 false 0 false true A false B false C false FORM 990, PART I, LINE 1: THE OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION IS A TAX-EXEMPT, NONPROFIT ORGANIZATION CREATED TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF OLD DOMINION UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 7A: PER THE ARTICLES OF INCORPORATION, THE AFFAIRS OF THE CORPORATION SHALL BE MANAGED BY THE BOARD OF TRUSTEES CONSISTING OF NOT LESS THAN NINE (9) NOR MORE THAN THIRTEEN (13) TRUSTEES WHO ARE VOTING TRUSTEES AND WHO, EXCEPT AS PROVIDED BELOW, SHALL BE ELECTED FOR A TERM OF TWO YEARS BY A MAJORITY VOTE OF TRUSTEES PRESENT AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES. ONE TRUSTEE SHALL BE ELECTED BY THE BOARD OF VISITORS OF OLD DOMINION UNIVERSITY FOR A TERM OF TWO (2) YEARS AND UNTIL A SUCCESSOR IS ELECTED BY THE BOARD OF VISITORS. THE PRESIDENT OF OLD DOMINION UNIVERSITY SHALL SERVE AS AN EX OFFICIO MEMBER OF THE BOARD OF TRUSTEES WITHOUT VOTE. FORM 990, PART VI, SECTION B, LINE 11B: THE 990 TAX FORMS ARE REVIEWED BY THE FINANCE AND AUDIT AND EXECUTIVE COMMITTEES AND ARE PROVIDED TO VOTING MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C: ONCE THE ANNUAL INTEREST DISCLOSURE FORMS ARE RECEIVED, MANAGEMENT REVIEWS THEM TO ENSURE THERE ARE NO ISSUES. IN THE EVENT OF A CONFLICT OF INTEREST, THE AFFECTED TRUSTEE WILL ABSTAIN FROM PARTICIPATING IN THE DISCUSSION OF THE MATTER AND FROM VOTING ON IT. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: CHANGES IN NET ASSETS REPORTED ON FORM 990 PART XI LINE 9 INCLUDES THE CHANGE IN THE LIABILITY FOR INTEREST-RATE SWAPS -$5,899 AND THE CHANGE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION $221,442. FORM 990, PART XII, LINE 2C: THE FOUNDATION'S FINANCE AND AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. ODU REF STUDENT HOUSING LLC 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 541744996 HOUSING VA 2641376 35020524 ODU REF ODU REF 45TH STREET PARKING GARAGE LLC 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 541744996 PARKING VA 651255 7988438 ODU REF OLD DOMINION UNIVERSITY 5115 HAMPTON BLVD N NORFOLK VA 23529 546000884 REAL ESTATE VA 501(c)(3) 6 NA false false true false false false false true false false true false false false true true false false false false Part II Identification of Related Tax-Exempt Organizations: NAME OF RELATED ORGANIZATION: OLD DOMINION UNIVERSITY PRIMARY ACTIVITY: SUPPORT AND ASSIST OLD DOMINION UNIVERSITY WITH ITS REAL ESTATE TRANSACTIONS.