2025-05-12T08:14:15-05:00 2024-06-30 333709623 COHNREZNICK ADVISORY LLC 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2023-07-01 273576298 BUCKNELL REAL ESTATE INC BUCK 5705773811 701 MOORE AVENUE SUITE 219 MARTS LEWISBURG PA 17837 ELIZABETH D STEWART INTERIM PRESIDENT/VP 5705773811 2025-05-08 1 1 LORI ROTHE YOKOBOSKY P01273422 4107834900 2025-05-07 2023 2025-03-06 01:10:19Z ELIZABETH D STEWART 701 MOORE AVENUE SUITE 219 MARTS LEWISBURG PA 17837 177000 0 X N/A X 2010 PA BUCKNELL REAL ESTATE, INC. WAS FORMED FOR THE SOLE PURPOSE OF ACQUIRING AND HOLDING TITLE TO, LEASING AND REHABILITATING REAL ESTATE ON BEHALF OF BUCKNELL UNIVERSITY. 4 1 0 1 57949 0 0 0 0 0 0 0 177000 177000 177000 177000 0 0 0 0 0 0 0 0 0 899839 874048 899839 874048 -722839 -697048 8087751 7697738 17092083 17399118 -9004332 -9701380 BUCKNELL REAL ESTATE, INC. WAS FORMED FOR THE SOLE PURPOSE OF ACQUIRING AND HOLDING TITLE TO, LEASING AND REHABILITATING REAL ESTATE ON BEHALF OF BUCKNELL UNIVERSITY. 0 0 ACQUIRED, REHABILITATED, AND HELD 3 PROPERTIES ON BEHALF OF BUCKNELL UNIVERSITY, ITS PARENT ORGANIZATION. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 4 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X ELIZABETH D STEWART 5705773811 701 MOORE AVENUE SUITE 219 MARTS LEWISBURG PA 17837 ELIZABETH D STEWART INTERIM PRES/VP 0.10 40.00 X X 0 206876 33222 RONALD E STAUFFER II DIRECTOR 0.10 40.00 X 0 138897 40964 LORI WILSON SECRETARY 0.10 40.00 X X 0 137319 47327 ELLEN RUBY DIRECTOR 0.10 X 0 0 0 EILEEN E PETULA FORMER PRESIDENT 0.10 40.00 X 0 280170 28896 0 763262 150409 0 1 1 0 0 177000 0 177000 177000 119051 57949 177000 119051 57949 0 21223 5293 1001 163519 672087 REPAIRS AND MAINTENANCE 10925 874048 X 307007 527238 16527231 9370373 7772347 7156858 8397 13642 8087751 7697738 16190000 16190000 902083 1209118 17092083 17399118 X -9004332 -9701380 -9004332 -9701380 8087751 7697738 -697048 0 X X 0 1 X 0 0 121138 121138 15336422 8374125 6962297 1069671 996248 73423 7156858 AMOUNTS OWED TO BUCKNELL UNIV 1209118 1209118 X PART X, LINE 2: BUCKNELL REAL ESTATE, INC. ("BRE") RECORDS INCOME TAX LIABILITIES AND ASSETS USING A THRESHOLD OF MORE LIKELY THAN NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. BRE DOES NOT BELIEVE THAT THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR COSTS THAT SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. 0 0 0 EILEEN E PETULA FORMER PRESIDENT 0 280170 0 0 0 0 0 14125 0 14771 0 309066 0 0 ELIZABETH D STEWART INTERIM PRES/VP 0 206805 0 0 0 71 0 21192 0 12030 0 240098 0 0 LORI WILSON SECRETARY 0 137319 0 0 0 0 0 14844 0 32483 0 184646 0 0 RONALD E STAUFFER II DIRECTOR 0 138897 0 0 0 0 0 14995 0 25969 0 179861 0 0 PART I LINE 3 METHODS USED TO ESTABLISH COMPENSATION BY RELATED ORGANIZATIO THE RELATED ORGANIZATION USED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT FORM 990 OF OTHER ORGANIZATIONS COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING INDIVIDUALS HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER BASED ON THEIR POSITIONS WITHIN BUCKNELL REAL ESTATE'S RELATED ORGANIZATION, BUCKNELL UNIVERSITY. BUCKNELL REAL ESTATE BUCKNELL UNIVERSITY ELIZABETH STEWART - INTERIM PRESIDENT/ ASSOCIATE VP FOR FINANCE/ VICE PRESIDENT ASSISTANT SECRETARY LORI WILSON - SECRETARY EMPLOYEE RONALD E. STAUFFER, II - BOARD MEMBER EMPLOYEE FORM 990, PART VI, SECTION B, LINE 11B THE FINAL FORM 990 IS REVIEWED WITH THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES ARE REQUIRED TO COMPLETE AND SUBMIT AN ANNUAL CONFLICT OF INTEREST STATEMENT TO THE ORGANIZATION'S SECRETARY. ALL STATEMENTS ARE REVIEWED BY THE SECRETARY TO DETERMINE IF THE POSSIBLE CONFLICTS OF INTEREST NOTED ARE ACTUAL CONFLICTS AND WHAT ACTION SHOULD BE TAKEN INCLUDING PROHIBITING AN INDIVIDUAL FROM PARTICIPATING IN ANY DELIBERATIONS, DECISIONS OR TRANSACTIONS RELATED TO THE CONFLICT, AND WHETHER DISCLOSURES REGARDING THE CONFLICT SHOULD BE MADE IN FINANCIAL STATEMENTS OR OTHER DOCUMENTS. FORM 990, PART VI, SECTION C, LINE 19 BUCKNELL REAL ESTATE, INC. IS INCLUDED IN BUCKNELL UNIVERSITY'S AUDITED CONSOLIDATED FINANCIAL STATEMENTS, WHICH ARE PUBLISHED ON THE UNIVERSITY'S WEBSITE. GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FORM 990, PART X, LINE 23 AS PART OF A NEW MARKETS TAX CREDIT PROJECT IN LEWISBURG, PA, BUCKNELL UNIVERSITY LOANED $12,022,694 IN DECEMBER 2010 TO AN ENTITY CONTROLLED BY WELLS FARGO COMMUNITY INVESTMENT HOLDINGS, LLC. THAT ENTITY THEN LOANED THE $12,022,694 AND AN ADDITIONAL $4,167,306 TO WELLS FARGO COMMUNITY DEVELOPMENT ENTERPRISES 7, LLC, WHICH IN TURN LOANED THOSE FUNDS TO BUCKNELL REAL ESTATE, INC. IN DECEMBER 2010. THE FUNDS WERE USED FOR THE ACQUISITION AND IMPROVEMENT OF CERTAIN PROPERTIES IN LEWISBURG, PA. IN FISCAL YEAR 2019 THE UNIVERSITY WOUND DOWN THE NEW MARKET TAX CREDIT. AS PART OF THAT PROCESS THE UNIVERSITY BECAME THE SOLE HOLDER OF THE $16,190,000 LOAN. THE LOANS REQUIRE INTEREST PAYABLE QUARTERLY AT 1.01% WITH PRINCIPAL PAYMENTS BEGINNING APRIL 1, 2018 THROUGH JANUARY 1, 2046. INTEREST PAID TO BUCKNELL UNIVERSITY RELATING TO LOAN A WAS $163,519 FOR THE YEAR ENDED JUNE 30, 2024. FORM 990, PART XII, LINE 2 BUCKNELL REAL ESTATE, INC.'S FINANCIAL STATEMENTS ARE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF BUCKNELL UNIVERSITY. THE UNIVERSITY'S FINANCIAL STATEMENTS ARE REVIEWED BY THE UNIVERSITY'S AUDIT, COMPLIANCE, AND RISK MANAGEMENT COMMITTEE. THE CONSOLIDATED FINANCIAL STATEMENTS ARE ALSO PRESENTED TO THE BOARD OF BUCKNELL REAL ESTATE, INC. THE UNIVERSITY'S AUDIT, COMPLIANCE, AND RISK MANAGEMENT COMMITTEE IS CHARGED WITH THE DUTY OF SELECTION OF THE INDEPENDENT ACCOUNTANT FOR THE CONSOLIDATED FINANCIAL STATEMENTS. BUCKNELL UNIVERSITY 1 DENT DRIVE FINANCE OFFICE LEWISBURG PA 17837 240772407 INSTITUTION OF HIGHER EDUICATION PA 501(C)(3) LINE 2 N/A 0 BISON VENTURES INC 701 MOORE AVE LEWISBURG PA 17837 264730096 BOOKSTORE OPERATIONS PA N/A C 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 FORM 990, SCHEDULE R, PART V, 1R AS PART OF A NEW MARKETS TAX CREDIT PROJECT IN LEWISBURG, PA, BUCKNELL UNIVERSITY LOANED $12,022,694 IN DECEMBER 2010 TO AN ENTITY CONTROLLED BY WELLS FARGO COMMUNITY INVESTMENT HOLDINGS, LLC. THAT ENTITY THEN LOANED THE $12,022,694 (LOAN A) AND AN ADDITIONAL $4,167,306 (LOAN B) TO WELLS FARGO COMMUNITY DEVELOPMENT ENTERPRISES 7, LLC, WHICH IN TURN LOANED THOSE FUNDS TO BUCKNELL REAL ESTATE, INC. IN DECEMBER 2010. THE FUNDS WERE USED FOR THE ACQUISITION AND IMPROVEMENT OF CERTAIN PROPERTIES IN LEWISBURG, PA. IN FISCAL YEAR 2019 THE UNIVERSITY WOUND DOWN THE NEW MARKET TAX CREDIT. AS PART OF THAT PROCESS THE UNIVERSITY BECAME THE SOLE HOLDER OF THE $16,190,000 LOAN. THE LOANS REQUIRE INTEREST PAYABLE QUARTERLY AT 1.01% WITH PRINCIPAL PAYMENTS BEGINNING APRIL 1, 2018 THROUGH JANUARY 1, 2046. INTEREST PAID TO BUCKNELL UNIVERSITY RELATING TO LOAN A WAS $163,519 FOR THE YEAR ENDED JUNE 30, 2024. AS NOTED ON SCHEDULE D, PART X, AT JUNE 30, 2024, BUCKNELL REAL ESTATE, INC. OWES BUCKNELL UNIVERSITY $1,209,118.