2024-04-01T09:55:26-05:00 2023-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2022-07-01 271560344 CENTENNIAL FALCON PROPERTIES INC CENT 4193728262 230 MCFALL CENTER BOWLING GREEN OH 43403 SHERIDEEN STOLL VICE PRESIDENT 4193728262 2024-03-26 1 SHERIDEEN STOLL 999009999 0 AMY CIMINELLO P00796388 2695674500 2024-03-26 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SHERIDEEN STOLL 230 MCFALL CENTER BOWLING GREEN OH 43403 504485 0 X N/A X 2009 OH TO ACQUIRE, DEVELOP AND MAINTAIN PROPERTY TO BE UTILIZED FOR UNIVERSITY PURPOSES. 5 1 0 1 0 0 0 500000 0 0 0 4485 0 0 0 504485 0 0 0 0 0 0 0 0 0 723861 713600 723861 713600 -723861 -209115 14113437 13912475 9957417 9360618 4156020 4551857 X THE MISSION OF CENTENNIAL FALCON PROPERTIES, INC (THE "CORPORATION") IS TO PROVIDE VARIOUS BUILDINGS AND FACILITIES TO THE STUDENTS, FACULTY AND STAFF OF BOWLING GREEN STATE UNIVERSITY (THE "UNIVERSITY") TO ENHANCE THE LIVING AND LEARNING ENVIRONMENT AND INTERACTION OF THE UNIVERSITY COMMUNITY. SPECIFICALLY, THE CORPORATION WILL SEEK TO BUILD AND/OR REFURBISH HOUSING, RESEARCH, CLASSROOM, AND ADMINISTRATIVE FACILITIES, AND DINING, BOOKSTORE, PARKING, AND OTHER AUXILIARY FACILITIES IN AND AROUND THE UNIVERSITY COMMUNITY. 0 0 684978 0 0 TWO-BUILDING FULL SERVICE CAMPUS DINING FACILITIES, THE OAKS AND CARILLON PLACE, OPENED AUGUST 19, 2011. FOR YEAR ENDING JUNE 30, 2023, THERE WERE APPROXIMATELY 564,000 MEALS SERVED TO STUDENTS, FACULTY AND STAFF. IN-KIND SUPPORT REVENUE RECEIVED FROM BOWLING GREEN STATE UNIVERSITY RELATED TO DINING OPERATIONS WAS $596,800. SEE SCHEDULE O EXPLANATION FOR PART XI, LINE 9 FOR ADDITIONAL DETAILS. 684978 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 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 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X SHERIDEEN STOLL 4193728262 230 MCFALL CENTER BOWLING GREEN OH 43403 RODNEY ROGERS PRESIDENT 0.30 40.00 X X 0 599199 243692 SHERIDEEN STOLL VICE PRESIDENT 0.50 40.00 X X 0 336328 69054 JOE WHITEHEAD DIRECTOR 0.30 40.00 X 0 320784 72806 NATALIE JACKSON SECRETARY/TREASURER 0.30 40.00 X X 0 233307 68976 EMMANUELE CONTI DIRECTOR 0.30 0.00 X 0 0 0 0 1489618 454528 0 0 1 0 0 500000 500000 4485 4485 504485 0 0 4485 28580 28580 42 42 1790 1790 683188 683188 713600 684978 28622 0 1148752 733314 23685763 10604624 12839155 13081139 118029 97022 7501 1000 14113437 13912475 9957417 9360618 9957417 9360618 X 4156020 4551857 4156020 4551857 14113437 13912475 X -209115 604952 X X 0 1 X 1 0 X X X 1 BOWLING GREEN STATE UNIVERSITY 346402018 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2421320 2421320 19925964 9356571 10569393 909767 909767 0 428712 338286 90426 13081139 X 1109437 604952 604952 504485 0 504485 713600 0 713600 0 713600 PART X, LINE 2: THE CORPORATION HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER SECTION 501(A)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AS AN ORGANIZATION DESCRIBED IN SECTION 509(A)(C) WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE CORPORATION HAD NO SIGNIFICANT UNRELATED BUSINESS TAXABLE INCOME DURING FISCAL YEARS 2023 AND 2022; ACCORDINGLY, NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: IN-KIND SUPPORT FROM BGSU 604,952. 0 1 0 0 0 0 0 0 0 RODNEY ROGERS PRESIDENT 0 495931 0 100000 0 3268 0 226969 0 16723 0 842891 0 0 SHERIDEEN STOLL VICE PRESIDENT 0 335941 0 0 0 387 0 46940 0 22114 0 405382 0 0 JOE WHITEHEAD DIRECTOR 0 320190 0 0 0 594 0 41871 0 30935 0 393590 0 0 NATALIE JACKSON SECRETARY/TREASURER 0 233217 0 0 0 90 0 33908 0 35068 0 302283 0 0 PART I, LINE 3 THE PRESIDENT WAS COMPENSATED BY A RELATED ORGANIZATION, AND THEREFORE NONE OF THE LINE 3 BOXES HAVE BEEN CHECKED. THE RELATED ORGANIZATION USED THE FOLLOWING METHODOLOGY TO ESTABLISH THE COMPENSATION OF THE PRESIDENT OF THE FILING ORGANIZATION: APPROVAL BY THE FULL BOARD FOLLOWING AN ANALYSIS, COMPARATIVE BENCHMARKING AND RECOMMENDATION BY THE COMPENSATION COMMITTEE. PART I, LINE 4B DR. RODNEY ROGERS, UNIVERSITY PRESIDENT, PARTICIPATES IN THE UNIVERSITY'S NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT OR SECTION 457(F) PLAN. AT THE END OF EACH CONTRACT YEAR COMMENCING ON JANUARY 1, 2018 AND ENDING WITH THE CONTRACT YEAR ENDING ON JUNE 30, 2026, AN AMOUNT EQUAL TO AT LEAST 20% OF DR. ROGERS' BASE SALARY WILL BE CONTRIBUTED TO THE DEFERRED COMPENSATION ACCOUNT IN ADDITION TO ANY OTHER AMOUNTS APPROVED BY THE BOARD OF TRUSTEES. IF ROGERS IS TERMINATED DURING A CONTRACT YEAR, ROGERS' ACCOUNT SHALL BE CREDITED WITH AN AMOUNT EQUAL TO TWENTY PERCENT (20%) OF ROGERS' BASE SALARY FOR SUCH CONTRACT YEAR, DIVIDED BY TWELVE (12) AND MULTIPLIED BY THE NUMBER OF MONTHS OF THE CONTRACT YEAR THAT ROGERS WAS EMPLOYED AS THE BGSU PRESIDENT ON THE LAST DAY OF THE MONTH. FISCAL YEAR 2023 DEFERRAL AMOUNT = $154,125 FORM 990, PART VI, SECTION B, LINE 11B THE FOLLOWING INDIVIDUALS REVIEW THE 990 PRIOR TO FILING: PRESIDENT, VICE PRESIDENT, SECRETARY/TREASURER, AND DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN POLICY CONCERNING DUALITY AND CONFLICTS OF INTEREST REGARDING THE CORPORATION. THE CONFLICT OF INTEREST POLICY IS ENFORCED THROUGH REGULAR AND CONSISTENT REVIEW AND DISCUSSION AT BOARD OF DIRECTORS MEETINGS. THOSE COVERED UNDER THE CONFLICT OF INTEREST POLICY ARE DIRECTORS, OFFICERS, EMPLOYEES, AND CONSULTANTS. IF THE BOARD OF DIRECTORS OR THE CONFLICT OF INTEREST COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT AN INTERESTED PERSON HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE OF THE INTERESTED PERSON AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THAT THE INTERESTED PERSON HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. CORRECTIVE ACTION SHALL INCLUDE UNDOING THE TRANSACTION OR ARRANGEMENT TO THE EXTENT POSSIBLE AND TAKING ANY ADDITIONAL MEASURES NECESSARY TO PLACE THE CORPORATION IN A FINANCIAL POSITION THAT IS NOT WORSE THAN THE POSITION THE CORPORATION WOULD BE IN IF THE INTERESTED PERSON HAD DEALT WITH THE CORPORATION UNDER THE HIGHEST FIDUCIARY STANDARDS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S CODE OF REGULATIONS STIPULATES THE DIRECTORS WILL NOT RECEIVE SALARIES, FEES, OR COMPENSATION FOR THEIR SERVICES AS DIRECTORS OR FOR THEIR ATTENDANCE AT ANY MEETING OR COMMITTEE MEETING. THE ORGANIZATION'S CODE OF REGULATIONS STIPULATES THE OFFICERS OR KEY EMPLOYEES WILL NOT RECEIVE SALARIES, FEES OR COMPENSATION FOR THEIR SERVICES AS OFFICERS OR KEY EMPLOYEES OR FOR THEIR ATTENDANCE AT ANY MEETING OR COMMITTEE MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: IN-KIND SUPPORT FROM BGSU 596,800. IN-KIND SUPPORT FROM BGSU 8,152. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS IN THE AMOUNT OF $596,800 REPRESENTS IN-KIND SUPPORT FROM BOWLING GREEN STATE UNIVERSITY. DUE TO THE UNIVERSITY'S FOOD SERVICE MANAGEMENT AGREEMENT WITH CHARTWELLS AND IN EXCHANGE FOR USE OF THE DINING FACILITIES, THE UNIVERSITY REPAYS THE DEBT ON BEHALF OF CFP II & CFP III, AS THEY ARE OF APPROXIMATELY EQUAL VALUE. AS SUCH, CFP II & CFP III RECOGNIZES THIS PAYMENT AS A DECREASE IN CONSTRUCTION FUNDING PAYABLE AND AS IN-KIND SUPPORT REVENUE. THE DINING FACILITY ASSET AND CORRESPONDING CONSTRUCTION FUNDING DEBT RESIDE ON THE BOOKS OF CFP II & CFP III. IN-KIND SUPPORT TOTALED $596,800 ($376,364 CFP II & $220,436 CFP III). CFP I LLC 230 MCFALL CENTER BOWLING GREEN OH 43403 272469355 TO ACQUIRE, CONSTRUCT, FURNISH AND MAINTAIN STUDENT RESIDENCE HALLS OH 512637 1764472 CENTENNIAL FALCON PROPERTIES INC CFP II LLC 230 MCFALL CENTER BOWLING GREEN OH 43403 273481213 TO FINANCE, CONSTRUCT, EQUIP AND MAINTAIN A FULL SERVICE DINING FACILITY. OH 376364 6125386 CENTENNIAL FALCON PROPERTIES INC CFP III LLC 230 MCFALL CENTER BOWLING GREEN OH 43403 273971320 TO FINANCE, CONSTRUCT, EQUIP AND MAINTAIN A FULL SERVICE DINING FACILITY. OH 220436 4781589 CENTENNIAL FALCON PROPERTIES INC CFP IV LLC 230 MCFALL CENTER BOWLING GREEN OH 43403 851646374 TO OWN AND MAINTAIN VARIOUS REAL ESTATE PARCELS, FOR FUTURE USE BY THE UNIVE OH 0 1241027 CENTENNIAL FALCON PROPERTIES INC CFP V LLC 230 MCFALL CENTER BOWLING GREEN OH 43403 851632567 TO HOLD 5,691 SHARES OF STOCK IN SATELYTICS, INC. OH 0 1 CENTENNIAL FALCON PROPERTIES INC BOWLING GREEN STATE UNIVERSITY 1001 E WOOSTER STREET BOWLING GREEN OH 43403 346402018 PUBLIC UNIVERSITY OH 501(C)(3) LINE 2 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0