2025-05-07T11:54:21+00:00 2024-06-30 350921680 CROWE LLP 401 East Las Olas Blvd Suite 1100 Fort Lauderdale FL 333014230 990 2023-07-01 452337977 The Florida State University Real Estate Foundation Incorporated FLOR 8506446000 200 W COLLEGE AVENUE 310 TALLAHASSEE FL 32301 Kevin Graham Executive Director 8506440766 2025-05-07 true true Brittney Kocaj P01320603 9542028600 2025-05-07 2023 2025-03-06 01:10:19Z KEVIN GRAHAM 200 W COLLEGE AVENUE 310 TALLAHASSEE FL 32301 1962713 false X REALESTATE.FSU.EDU X 2011 FL THE FSU REAL ESTATE FOUNDATION AIDS IN THE ADVANCEMENT OF THE UNIVERSITY BY PROVIDING OVERSIGHT AND EXPERTISE FOR THE UNIVERSITY'S REAL ESTATE INITIATIVES. THE FSU REAL ESTATE FOUNDATION SUPPORTS THE UNIVERSITY AND ITS DIRECT SUPPORT ORGANIZATIONS THROUGH ADMINISTERING REAL ESTATE GIFT ACCEPTANCE, STRATEGIC LAND ACQUISITIONS, DEVELOPMENT PROJECT LEADERSHIP AND LONG TERM REAL ESTATE PLANNING. THE FSU REAL ESTATE FOUNDATION STRIVES TO BE THE SOURCE OF KNOWLEDGE AND EXPERTISE FOR THE FLORIDA STATE COMMUNITY WHERE REAL ESTATE IS CONCERNED. 2 0 0 6 0 0 332718 1076701 0 0 0 -54688 699996 648284 1032714 1670297 0 131873 0 0 206953 0 0 0 0 888387 842939 1095340 974812 -62626 695485 17285323 17164824 15833968 15017984 1451355 2146840 THE FSU REAL ESTATE FOUNDATION AIDS IN THE ADVANCEMENT OF THE UNIVERSITY BY PROVIDING OVERSIGHT AND EXPERTISE FOR THE UNIVERSITY'S REAL ESTATE INITIATIVES. THE FSU REAL ESTATE FOUNDATION SUPPORTS THE UNIVERSITY AND ITS DIRECT SUPPORT ORGANIZATIONS THROUGH ADMINISTERING REAL ESTATE GIFT ACCEPTANCE, STRATEGIC LAND ACQUISITIONS, DEVELOPMENT PROJECT LEADERSHIP AND LONG TERM REAL ESTATE PLANNING. THE FSU REAL ESTATE FOUNDATION STRIVES TO BE THE SOURCE OF KNOWLEDGE AND EXPERTISE FOR THE FLORIDA STATE COMMUNITY WHERE REAL ESTATE IS CONCERNED. false false 152589 131873 0 THE FSU REAL ESTATE FOUNDATION RECEIVES CONTRIBUTIONS OF REAL ESTATE TO HOLD, MANAGE, LEASE, MORTGAGE, DEVELOP, ADMINISTER OR SELL IN ORDER TO CONTRIBUTE OR DISTRIBUTE ALL OR A PORTION OF THE NET PROCEEDS FROM SUCH ACTIVITY TO THE UNIVERSITY, THE FLORIDA STATE UNIVERSITY FOUNDATION (FSU FOUNDATION), OR SUCH OTHER ENTITY AS THE BOARD MAY DETERMINE APPROPRIATE. THE FSU REAL ESTATE FOUNDATION MAKES EXPENDITURES, GRANTS, CONTRIBUTIONS OR DISTRIBUTIONS TO OR FOR THE BENEFIT OF THE UNIVERSITY, DIRECTLY AND/OR THROUGH THE FSU FOUNDATION. 152589 true true false false false false false false false true true false true true true true true false false false false false false false false false true false true false false false false false false false false true false false false false true false false false true X 2 0 true 0 false false false false false false false false false false false false X 2 0 false false false false false true true true true false false true true true true true true false false false FL X X JOHN CARRIGAN 8506440766 200 W COLLEGE AVENUE STE 310 TALLAHASSEE FL 32301 Marla A Vickers FSU Presidential Designee THRU APRIL 2024 2.0 38.0 X X 0 447999 51487 Richard D McCullough FSU PRESIDENT 2.0 38.0 X X 0 1365751 131166 William Sweeney Chair 1.0 39.0 X X 0 161445 20669 Brian K Swain Past Chair THRU APRIL 2024 1.0 0 X 0 0 0 Frank Nardozza Director THRU APRIL 2024 1.0 0 X 0 0 0 Heather Cave Director THRU APRIL 2024 1.0 39.0 X 0 80059 30203 Jay M Caplin Chair Emeritus THRU APRIL 2024 1.0 0 X 0 0 0 John Crossman Director THRU APRIL 2024 1.0 0 X 0 0 0 Kyle D Riva Director THRU APRIL 2024 1.0 1.0 X 0 0 0 Vivian de las Cuevas-Diaz Director THRU APRIL 2024 1.0 0 X 0 0 0 Brady Adcox Secretary 6.0 32.0 X 0 86204 33456 John F Carrigan Treasurer 2.0 38.0 X 0 166261 82235 Kevin C Graham Vice President 12.0 28.0 X 0 206508 51267 Michael Hartline INTERIM PRESIDENT UNTIL 10/1/22 0.0 40.0 X 0 431897 39546 0 2946124 440029 0 true true false 0 102701 974000 974000 1076701 0 0 0 0 0 730671 82416 648255 0 648255 648255 155312 210000 0 -54688 -54688 -54688 Other income 900099 29 29 0 0 0 0 29 1670297 0 0 593596 131873 131873 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6100 0 6100 0 0 0 0 0 0 0 0 0 0 0 7395 0 7395 0 239 0 239 0 3437 0 3437 0 18196 0 18196 0 0 0 0 0 0 0 0 3945 0 3945 0 0 0 0 0 2335 0 2335 0 401563 0 401563 0 0 0 0 0 340386 2166 338220 0 37336 0 37336 0 Carrying costs 18550 18550 0 0 Other expenses 2215 0 2215 0 Entertainment 1242 0 1242 0 0 0 0 0 974812 152589 822223 0 0 0 0 0 988442 742716 5252 4889 0 0 0 61106 32053 13684000 1055243 11919727 12628757 1450000 1450000 0 2860796 2306409 17285323 17164824 7088 2268 0 15826880 15015716 15833968 15017984 X 1503192 1077280 -51837 1069560 1451355 2146840 17285323 17164824 695485 0 X X false true X false false X X X 1 FSU FOUNDATION 596152180 5 true 131873 0 1 131873 0 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2397400 2397400 11286600 1055243 10231357 12628757 TRUSTS - LIFE ESTATE 1450000 F 1450000 SEMINOLE BOOSTERS LEASE RECEIVABLE 2241187 J&C SHIFUN LEASE RECEIVABLE 65222 2306409 FSU RESEARCH FOUNDATION NOTE 11255197 DEFERRED Lease 2306409 DEFERRED Life insurance policy 4110 DEFERRED Life estate 1450000 15015716 X 1918945 166232 82416 248648 1670297 0 0 1670297 1223460 166232 82416 248648 974812 0 0 974812 Schedule D, Part XI, Line 2(b) DONATED SERVICES AND USE OF FACILITIES IN-KIND OCCUPANCY RENT - 25,771 SALARIES AND EXPENSES PAID BY FLORIDA STATE UNIVERSITY - 140,461 TOTAL TO SCHEDULE D, PART XI, LINE 2B - 166,232 Schedule D, Part XII, Line 2(a) DONATED SERVICES AND USE OF FACILITIES IN-KIND OCCUPANCY RENT - 25,771 SALARIES AND EXPENSES PAID BY FLORIDA STATE UNIVERSITY - 140,461 TOTAL TO SCHEDULE D, PART XII, LINE 2A - 166,232 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Pursuant to a determination letter received from the Internal Revenue Service (IRS), the Real Estate Foundation is a non-profit corporation exempt from federal income taxes under Internal Revenue Code Section 501(c)(3), with the exception of any unrelated business income. The Real Estate Foundation is classified as a Type I supporting organization under section 509(a)(3). The Real Estate Foundation has reviewed its tax status and related filings and determined that there are no tax positions that would have a material impact on the financial statements for which an obligation needs to be recorded. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RENTAL EXPENSES - 82416 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSES - 82416 true FSU FOUNDATION 325 W COLLEGE AVENUE TALLAHASSEE FL 32301 596152180 501(C)(3) 131873 ACADEMIC SUPPORT 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE REAL ESTATE FOUNDATION TRANSFERRED PROCEEDS OF $131,873 TO THE FSU FOUNDATION FROM THE SALE OF PROPERTY. THE ACCOUNTING MANAGER PROVIDES AN APPROVED DISBURSEMENT REQUEST TO TRANSFER THE FUNDS. AT THE TIME OF THE TRANSFER, THE ORGANIZATION AUDITS THE DISBURSEMENT TO ENSURE THAT IT MEETS THE INTENT OF THE AGREEMENT. THE REAL ESTATE FOUNDATION KEEPS RECORDS OF THE DISBURSEMENTS AS PART OF ITS ACCOUNTS PAYABLE DOCUMENTATION. false false false false false false false false false Michael Hartline INTERIM PRESIDENT UNTIL 10/1/22 0 406845 0 0 0 25052 0 27667 0 11879 0 471443 0 0 William Sweeney Chair 0 161445 0 0 0 0 0 20626 0 43 0 182114 0 0 Marla A Vickers FSU Presidential Designee THRU APRIL 2024 0 424874 0 20000 0 3125 0 41144 0 10343 0 499486 0 0 Richard D McCullough FSU PRESIDENT 0 857836 0 337785 0 170130 0 98769 0 32397 0 1496917 0 0 Kevin C Graham Vice President 0 201508 0 5000 0 0 0 25804 0 25463 0 257775 0 0 John F Carrigan Treasurer 0 166261 0 0 0 0 0 56696 0 25539 0 248496 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation THE FOUNDATION PRESIDENT IS AN EMPLOYEE OF FLORIDA STATE UNIVERSITY, A RELATED ORGANIZATION. FOUNDATION PRESIDENT COMPENSATION IS REVIEWED AND SET BY THE PRESIDENT OF THE UNIVERSITY OR A DESIGNEE, IN ACCORDANCE WITH THE UNIVERSITY'S POLICIES. THESE POLICIES REQUIRE THAT COMPARABLE DATA BE USED TO DETERMINE THAT MANAGEMENT IS COMPENSATED FAIRLY AND COMPETITIVELY WHEN COMPARED TO SIMILAR ROLES IN OTHER FOUNDATIONS NATIONALLY. X 2 54000 Market value X 1 920000 Market value 2 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THE ORGANIZATION USES THE FLORIDA STATE UNIVERSITY FOUNDATION TO SOLICIT GIFTS OF REAL ESTATE AND IN RETURN PROVIDES ADVICE AND EXPERTISE. IN ADDITION, THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION MAY ENGAGE THE SERVICES OF REAL ESTATE AGENTS OR OTHER THIRD PARTIES TO ASSIST WITH THE ACQUISITION OR SALE OF PROPERTIES. Schedule M, Part I Explanations of reporting method for number of contributions Real estate - Residential - number of contributions Real estate - Commercial - number of contributions Form 990, Part V, Line 2a Form W-3 ALL EMPLOYEES OF THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION ARE EMPLOYEES OF THE FLORIDA STATE UNIVERSITY, A RELATED ORGANIZATION. DURING CALENDAR YEAR 2023, THERE WERE 3 EMPLOYEES PRIMARILY DEDICATED TO WORKING FOR THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION. Form 990, Part VI, Line 15 COMPENSATION FOR MANAGEMENT COMPENSATION FOR MANAGEMENT IS REVIEWED AND SET BY THE PRESIDENT OF FSU, OR HIS DESIGNEE, IN ACCORDANCE WITH THE UNIVERSITY'S POLICIES. THESE POLICIES REQUIRE THAT COMPARABLE DATA BE USED TO DETERMINE THAT MANAGEMENT IS COMPENSATED FAIRLY AND COMPETITIVELY WHEN COMPARED TO SIMILAR ROLES IN OTHER FOUNDATIONS NATIONALLY. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body DIRECTORS ARE APPOINTED BY UNIVERSITY OR UNIVERSITY DIRECT SUPPORT ORGANIZATION REPRESENTATIVES WITH PRIOR APPROVAL OF THE BOARD CHAIR, UNIVERSITY PRESIDENT, AND FSU FOUNDATION PRESIDENT. ELECTED DIRECTORS ARE REVIEWED AND RECOMMENDED BY THE BOARD DEVELOPMENT COMMITTEE AND ELECTED BY A MAJORITY VOTE OF THE BOARD WITH PRIOR APPROVAL OF THE UNIVERSITY PRESIDENT. THE DIRECTOR EMERITUS IS THE IMMEDIATE PAST BOARD CHAIR. THE UNIVERSITY BOARD OF TRUSTEES SHALL APPROVE ALL BOARD APPOINTMENTS TO THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION. In April 2024, in collaboration with representatives of the Florida State University, the governing body unanimously voted to dissolve the organization. At this time, the governing body authorized officers of the organization to: -Execute and file with the Florida Department of State the Articles of Dissolution and Plan of Distribution of Assets -Perform any and all acts, execution and delivery of any other documents, consents, resolutions, conveyances, certificates, and agreements of any kind which may be necessary or desirable to wind up the affairs and dissolve the FSU Real Estate Foundation, and -Implement, execute, or effect this dissolution, including, without limitation, all filings and/or acts required by any state or federal law or regulation to wind up its affairs. As of June 30, 2024, the officers to whom these responsibilities have been delegated are in the process of completing all filings and actions required to legally dissolve the organization. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders PER THE FLORIDA EXCELLENCES IN HIGHER EDUCATION ACT OF 2018, SIGNED INTO LAW ON MARCH 11, 2018, THE UNIVERSITY BOARD OF TRUSTEES SHALL APPROVE BOARD APPOINTMENTS TO THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION. In April 2024, in collaboration with representatives of the Florida State University, the governing body unanimously voted to dissolve the organization. No additional appointments to the Board of the FSU Real Estate Foundation are expected prior to dissolution. Form 990, Part VI, Line 11b Review of form 990 by governing body THE SECRETARY AND TREASURER OF THE ORGANIZATION REVIEW THE FORM 990 AND RESOLVE ANY ISSUES OR QUESTIONS WITH THE INDEPENDENT ACCOUNTING FIRM THAT PREPARES THE FORM. IT IS THE RESPONSIBILITY OF THE ORGANIZATION'S OFFICERS TO CONFIRM THAT THIS FORM REPRESENTS THE FSU REAL ESTATE FOUNDATION'S FINANCIAL CONDITION FOR THE PERIOD BEING REPORTED AND DOES NOT CONTAIN ANY UNTRUE STATEMENTS OR OMIT ANY MATERIAL FACTS. THE DRAFT FORM 990 IS PROVIDED TO EACH VOTING BOARD MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM WITH THE IRS. DISTRIBUTION IS IN THE FORM OF ELECTRONIC MAIL. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY ALL DIRECTORS ARE ASKED TO COMPLETE A CONFLICT OF INTEREST FORM. THIS PROCESS IS MONITORED BY STAFF OF THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION TO ENSURE THAT COMPLETED FORMS ARE RETURNED BY ALL MEMBERS WITH INDIVIDUAL FOLLOW UP, WHEN NECESSARY. HARD COPIES OF ALL FORMS ARE RETAINED. IT IS THE RESPONSIBILITY OF STAFF OF THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION TO INFORM THE BOARD CHAIR AND COMMITTEE CHAIRPERSONS OF ANY EXISTING CONFLICTS SO THAT THEY CAN BE SURE THAT BOARD MEMBERS RECUSE THEMSELVES FROM ANY DISCUSSIONS AND/OR ACTIONS INCLUDING VOTES ON ISSUES WHERE THERE IS A CONFLICT OF INTEREST. Form 990, Part VI, Line 19 Required documents available to the public THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION'S FINANCIAL STATEMENTS, FORM 990 AND 990-T, IF APPLICABLE, ARE AVAILABLE ON THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION'S WEBSITE AND UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH BY IRC SECTION 6104(D). Form 990, Part XII, Line 2c Change of oversight process or selection process THE FLORIDA STATE UNIVERSITY REAL ESTATE FOUNDATION BOARD OF DIRECTORS VOTED TO DISSOLVE ON APRIL 19, 2024, ASSIGNING ALL POWERS NEEDED TO EXECUTE THE WINDING DOWN TO THE VICE PRESIDENT OF THE BOARD. THE FLORIDA STATE UNIVERSITY 600 W COLLEGE AVENUE TALLAHASSEE FL 32306 591961248 EDUCATION FL 501(c)(3) 2 NA false THE FLORIDA STATE UNIVERSITY FOUNDATION 325 W COLLEGE AVENUE TALLAHASSEE FL 32301 596152180 DSO FL 501(c)(3) 5 THE FLORIDA STATE UNIVERSITY false FSU RESEARCH FOUNDATION 2000 LEVY AVE BLDG A STE 351 TALLAHASSEE FL 32310 593211153 DSO FL 501(c)(3) Type I THE FLORIDA STATE UNIVERSITY false FSU ALUMNI ASSOCIATION INC 1030 W TENNESSEE STREET TALLAHASSEE FL 32304 590705420 DSO FL 501(c)(3) 7 THE FLORIDA STATE UNIVERSITY false SEMINOLE BOOSTERS INC PO BOX 1353 TALLAHASSEE FL 32302 591561180 DSO FL 501(c)(3) 7 THE FLORIDA STATE UNIVERSITY false FSU INTERNATIONAL PROGRAMS ASSOC INC PO BOX 3062420 TALLAHASSEE FL 32306 593153341 DSO FL 501(c)(3) Type I THE FLORIDA STATE UNIVERSITY false FLORIDA STATE UNIVERSITY SCHOOLS INC 3000 SCHOOL HOUSE ROAD TALLAHASSEE FL 32311 593726188 DEVELOPMENT RESEARCH SCHOOL FL 501(c)(3) 2 THE FLORIDA STATE UNIVERSITY false THE JOHN & MABLE RINGLING MUSEUM OF ART 5401 BAY SHORE ROAD SARASOTA FL 34243 596214423 DSO FL 501(c)(3) Type I THE FLORIDA STATE UNIVERSITY false FLORIDA MEDICAL PRACTICE PLAN INC 1115 WEST CALL STREET TALLAHASSEE FL 32306 571234883 FACULTY MEDICAL PRACTICE PLAN FL 501(c)(3) Type I THE FLORIDA STATE UNIVERSITY false FSU MAGNET RESEARCH AND DEVELOPMENT INC 109 WESTCOTT BUILDING TALLAHASSEE FL 32306 134356799 DSO FL 501(c)(3) Type I THE FLORIDA STATE UNIVERSITY false FSU COLLEGE OF BUSINESS STUDENT INVEST FSU 821 ACADEMIC WAY TALLAHASSEE FL 32306 264028305 DSO FL 501(c)(3) 5 THE FLORIDA STATE UNIVERSITY false FSU ATHLETICS ASSOCIATION INC 403 STADIUM DRIVE WEST TALLAHASSEE FL 32306 813227626 DSO FL 501(c)(3) Type I THE FLORIDA STATE UNIVERSITY false BOSWORTH EDUC FDFLORIDA TW 4900 TIEDEMAN ROAD OH-01-49-0381 BROOKLYN OH 44144 346776855 Nonexempt charitable trust OH 4947 (a)(1) FSU Foundation false FLORIDA STATE UNIVERSITY PANAMA CITY DEVELOPMENTAL LABORATORY CHARTER SCHOO L INC 2430 ST ANDREWS BLVD PANAMA CITY FL 32405 320783410 DEVELOPMENT RESEARCH SCHOOL FL 501(c)(3) 2 FLORIDA STATE UNIVERSITY false false true true true true false false false false false true true true true true true true false true