2025-11-10T11:16:11+00:00 2024-12-31 135381590 BDO USA 300 E MAIN STREET STE 1300 NORFOLK VA 23510 990 2024-01-01 541744996 OLD DOMINION UNIVERSITY REAL ESTATE FOUNDATION OLDD 7576834524 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 TARA F SAUNDERS EXECUTIVE DIRECTOR 2025-11-10 true true TODD TERESCO P00247720 7576407190 2025-11-10 2024 2025-03-06 01:10:19Z TARA F SAUNDERS 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 27655807 false X https://www.odu.edu/real-estate-foundation X 1995 VA 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. 12 12 0 16 0 533533 10108801 0 0 3703818 3935732 462886 399679 4700237 14444212 233146 259841 0 0 332598 383052 0 0 0 3047754 3075509 3613498 3718402 1086739 10725810 74806870 89422100 48268591 51366304 26538279 38055796 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 3501626 259841 0 AQUIRE, DEVELOP, AND MANAGE PROPERTY IN FURTHERANCE OF THE GOALS, MISSION AND OBJECTIVES OF OLD DOMINION UNIVERSITY. 3501626 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 true false false false true true false false false false true 8 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 false true true true true true true false false false false VA X DIRECTOR OF ACCOUNTINGCFO 7576834471 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 Joseph A Lowery Secretary/Treasurer 0.5 0 X X 0 0 0 Teresa C Peters Vice Chair 0.5 0 X X 0 0 0 Brian K Holland Trustee/BOV Representative (AS OF 7/24) 0.5 0 X 0 0 0 Brian O Hemphill Ex-Officio 0.5 0 X 0 891663 71094 Deborah K Stearns Trustee 0.3 0 X 0 0 0 Jared Chalk Trustee 0.3 0 X 0 0 0 Jeremy R Starkey Trustee 0.3 0 X 0 0 0 Karen Shaffer Trustee 0.3 0 X 0 0 0 Kenneth E Rodman Jr Trustee 0.3 0 X 0 0 0 Larry R Hill Trustee/BOV Representative (THRU 6/24) 0.5 0 X 0 0 0 Lisa F Chandler Chair 0.8 0 X 0 0 0 Miles B Leon Trustee 0.3 0 X 0 0 0 Nathaniel P Tyler Trustee 0.3 0 X 0 0 0 Steven C Wright Trustee 0.3 0 X 0 0 0 Cindy R Gall Assistant Secretary 13.0 0 X 0 71422 20960 Mike LaRock Assistant Treasurer 9.0 0 X 0 202990 38368 Tara F Saunders Executive Director 40.0 0 X 0 202496 42562 0 1368571 172984 0 false true false SAUNDERS CROUSE ARCHITECTS LLC 222 CENTRAL PARK AVENUE SUITE 1610 Suite 1610 VIRGINIA BEACH VA 23462 ARCHITECT & ENG SVCS 888331 1 10108801 4537242 10108801 0 0 0 0 0 340963 340963 3386895 2987216 399679 0 399679 399679 10298567 3520581 10224379 74188 3520581 3594769 3594769 0 0 0 0 0 0 14444212 0 0 4335411 259841 259841 0 0 383052 306442 76610 246 246 79750 79750 5634 5634 4500 4500 0 0 12373 12373 770 770 1098 1098 1575101 1575101 4190 4190 26371 26371 REAL ESTATE TAXES 1211826 1211826 PROPERTY AND EQUIPMENT RENTAL 66144 63644 2500 BOND FEE 43896 43896 ADMINISTRATION FEES 28393 28393 15217 5569 9648 0 3718402 3501626 216776 0 250000 250000 2434697 3360953 2746677 1395326 1222027 1264722 0 0 0 0 30626791 27742074 44082587 3923458 31449683 40159129 2487040 11356338 0 0 3589955 3893558 74806870 89422100 566254 409457 248933 370675 37317993 35986823 0 0 9050885 13993545 1084526 605804 48268591 51366304 X 22305921 25234611 4232358 12821185 26538279 38055796 74806870 89422100 X 10725810 -10415 802122 X false true true false X X X 1 OLD DOMINION UNIVERSITY 546000884 6 true 0 440441 1 0 440441 true false false false false false false false false false false false false false false true true false X Schedule A, Part V, Section D Line 2 PART I LINE 12G REPORTS THE ESTIMATED FAIR MARKET VALUE OF THE DONATED USE OF FACILITIES. Schedule A, Part IV, Section E, Line 1c The Organization Supported A Government Entity Explanation 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2717972 265790 28393 2955369 2522344 221442 25814 2717972 2784820 -236376 26100 2522344 2343756 466062 24998 2784820 2112289 251856 20389 2343756 1.0 0.0 0.0 true false 23169891 23169891 17672142 2732275 14939867 1145762 407382 738380 471656 387518 84138 1623136 396283 1226853 40159129 Federal Income Taxes OPERATING LEASE LIABILITY 374716 LEASE INCENTIVE LIABILITY 190000 SECURITY DEPOSIT 41088 INTEREST RATE SWAP LIABILITY 605804 X 18217501 -10415 3789338 3778923 14438578 5634 0 5634 14444212 6699984 2987216 2987216 3712768 5634 0 5634 3718402 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote 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 2021 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 STUDENT 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. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF INTEREST RATE SWAPS - 536332 CHANGE IN VALUE OF INVESTMENTS HELD BY ODU EF VALUE OF DONATED SERVICES - 265790 RENTAL EXPENSES REPORTED ON PART VIII LINE 6B - 2987216 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSES REPORTED ON PART VIII LINE 6B - 2987216 true Old Dominion University Museum Fdn 4417 Monarch Way Norfolk VA 23529 812652321 501 (c) (3) 259841 TO ASSIST THE ACTIVITIES AND OBJECTIVES OF ODU MUSEUM FOUNDATION. 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds 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. false false false false false false false false false Brian O Hemphill Ex-Officio 0 891663 0 0 0 0 0 47148 0 23946 0 962757 0 0 Mike LaRock Assistant Treasurer 0 202990 0 0 0 0 0 22024 0 16344 0 241358 0 0 Tara F Saunders Executive Director 0 202496 0 0 0 0 0 33436 0 9126 0 245058 0 0 A NORFOLK REDEVELOPMENT AND HOUSING AUTHORITY 546001466 655909BS7 2015-07-29 44835000 REFINANCE CONSTRUCTION OF STUDENT HOUSING false true false B NORFOLK REDEVELOPMENT AND HOUSING AUTHORITY 546001466 655909BS7 2015-07-29 10605000 REFINANCE CONSTRUCTION OF PARKING GARAGE false true false C NORFOLK AIRPORT AUTHORITY 546001465 000000000 2016-12-28 10000000 FINANCE CONSTRUCTION OF MUSEUM false false false A 44835000 44835000 2004 true false true true B 10605000 10605000 2006 true false true true C 10000000 10000000 2018 false false true true A false false false false false false 0 0 0.0 true false 0 false true B false false false false false false 0 0 0.0 true false 0 false true C false false false false false false 0 0 0.0 true false 0 false true A false false false false true true BANK OF AMERICA NA 24.0 false false false 0 false false true B false false false false true true BANK OF AMERICA NA 24.0 false false false 0 false false true C false false false false true false 0 false false false 0 false false true A false B false C false 1 4537242 Market value 0 false true false Schedule M, Part I FOR LINE 9(B), THE NUMBER OF STOCK DONATIONS RECEIVED (NOT SHARES) IS REPORTED. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body 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, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy 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, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN THE LIABILITY FOR INTEREST-RATE SWAPS - 536332; CHANGE IN THE VALUE OF INVESTMENTS HELD BY OLD DOMINION UNIVERSITY EDUCATIONAL FOUNDATION - 265790; Total - 802122; 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 2689161 31676152 ODU REF ODU REF 45TH STREET PARKING GARAGE LLC 4417 MONARCH WAY 4TH FLOOR NORFOLK VA 23529 541744996 PARKING VA 624821 7020145 ODU REF OLD DOMINION UNIVERSITY 5115 HAMPTON BLVD N NORFOLK VA 23529 546000884 SUPPORT AND ASSIST OLD DOMINION UNIVERSITY WITH ITS REAL ESTATE TRANSACTIONS. 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 Schedule R, Part II Old Dominion University Primary Activity: Support and assist Old Dominion University with its real estate transactions