Overview
What is Virginia State University Real Estate Foundation?
Virginia State University Real Estate Foundation is a nonprofit organization situated in Petersburg, Virginia, with an address at 4010 J Mitchell Drive, 23803. Its primary mission is to support Virginia State University by managing the university apartments at Ettrick, a 504-bedroom facility, aligning with the institution's strategy to offer diverse housing options for students. To achieve its objectives, VSUREF acquires, develops, receives, maintains, and manages real estate assets to advance the goals and purposes of Virginia State University.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
The Virginia State University Real Estate Foundation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The overall score reflects a strong commitment to financial transparency, with the foundation achieving perfect scores in several key areas, including independent board membership, audit oversight, and conflict of interest policies.
One notable strength is the foundation's program expense ratio, which stands at an impressive 95.45%. This suggests that the majority of its expenditures are directed towards programmatic activities rather than administrative costs, aligning with best practices for nonprofit organizations. Additionally, the presence of a majority independent board reinforces its governance and accountability standards.
However, the foundation's liabilities to assets ratio of 120.07% raises some concerns, indicating potential financial risk. This metric suggests that the organization's liabilities exceed its assets, highlighting a need for careful financial management moving forward. Overall, while the foundation demonstrates strong governance practices, it may need to address its financial sustainability to ensure long-term effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia State University Real Estate Foundation legitimate?
Virginia State University Real Estate Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia State University Real Estate Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Virginia State University Real Estate Foundation?
The Virginia State University Real Estate Foundation (VSUREF) is organized and operated with the primary objective of acquiring, developing, receiving, maintaining, and managing real estate assets. These activities are aimed at supporting and furthering the goals and objectives of Virginia State University. Specifically, VSUREF manages the University Apartments at Ettrick, a 504-bedroom facility, providing housing options for students in alignment with the university's mission and strategy. The foundation's work contributes to offering a diverse range of housing alternatives for Virginia State University students.
Who is the CEO of Virginia State University Real Estate Foundation?
Joyce E Henderson is the Executive Director of Virginia State University Real Estate Foundation.
What is the revenue of Virginia State University Real Estate Foundation?
Virginia State University Real Estate Foundation's revenue in 2022 was $4,284,270.
Who are the executives of Virginia State University Real Estate Foundation and what are their salaries?
Here are 7 key members and their salaries:
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- Compensation: $36,000
- Related: $36,000
- Other: $36,000
Where can I find the form 990 for Virginia State University Real Estate Foundation?
Virginia State University Real Estate Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Virginia State University Real Estate Foundation
Virginia State University Real Estate Foundation, abbreviated as VSUREF, is organized and operated with a mission to acquire, develop, receive, maintain, and manage real estate assets that align with the aims and purposes of Virginia State University. This nonprofit entity focuses on managing the University Apartments at Ettrick, a 504-bedroom facility, specifically for Virginia State University students. By doing so, VSUREF supports the university's mission and adheres to its strategy of offering a variety of housing alternatives for students.
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Impact
July, 2024
The Virginia State University Real Estate Foundation plays a crucial role in supporting Virginia State University's mission by managing the University Apartments at Ettrick, a 504-bedroom facility for students. This initiative aligns with the university's strategy to offer a variety of housing alternatives for its students, enhancing their overall campus experience. By acquiring, developing, maintaining, and managing real estate assets, VSUREF directly contributes to advancing the aims and purposes of Virginia State University in the realm of education.
This information is meant to be a general summary of Virginia State University Real Estate Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $11,948
- Program Service Revenue: $4,262,655
- Gross Receipts: $4,284,270
Assets and Liabilities:
- Total Assets: $9,306,796
- Total Liabilities: $11,175,339
- Net Assets: -$1,868,543
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT HOUSING
Revenue
$4,262,655
Organization Details
Founding Year
2002
Phone
(804) 691-4744Principal Officer
Joyce E Henderson
Main Address
4010 J MITCHELL DRIVE, PETERSBURG, VA, 23803
NTEE Category
Code: B114 - Education
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