2025-10-17T07:48:16-07:00 2024-12-31 200592958 LARRY SAUNDERS & ASSOCIATES 2902 CHAMBERLAYNE AVE RICHMOND VA 23222 990 2024-01-01 010681650 VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION VIRG 8046914744 4010 J MITCHELL DRIVE PETERSBURG VA 23803 JOYCE HENDERSON EXECUTIVE DIRECTOR 8046914744 2025-10-17 true true James E Benson P00175791 8043218512 2025-10-17 2024 2025-03-06 01:10:19Z JOYCE HENDERSON 4010 J MITCHELL JONES DRIVE PETERSBURG VA 23803 2753120 false X N/A X 2002 VA VSUREF IS ORGANIZED AND OPERATED TO AQUIRE, DEVELOP, RECEIVE, MAINTAIN AND MANAGE REAL ESTATE ASSETS THAT FURTHER THE AIMS AND PURPOSES OF VIRGINIA STATE UNIVERSITY. 5 3 0 0 0 0 0 3167638 0 51369 57185 188990 2695935 3407997 2753120 0 0 0 0 0 2615879 1433145 2615879 1433145 792118 1319975 10893223 13508263 11858256 12985603 -965033 522660 VSUREF IS ORGANIZED AND OPERATED TO AQUIRE, DEVELOP, RECEIVE, MAINTAIN AND MANAGE REAL ESTATE ASSETS THAT FURTHER THE AIMS AND PURPOSES OF VIRGINIA STATE UNIVERSITY. false false 1311283 0 0 TO MANAGE THE UNIVERSITY APARTMENTS AT ETTRICK A 504 BEDROOM FACILITY FOR VIRGINIA STATE UNIVERSITY STUDENTS, IN SUPPORT OF THE UNIVERSITYS MISSION AND IN KEEPING WITH THE UNIVERSITYS STRATEGY TO OFFER A VARIETY OF HOUSING ALTERNATIVES FOR STUDENTS. 1311283 true false false false false false false false false false true false false true true true true true false false false false false false false false false true false false true false false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false false false X 5 3 false true false false false false false true true false false true true true true true true true false false LARRY SAUNDERS ASSOCIATES 8043218512 2902 CHAMBERLAYNE AVE RICHMOND VA 23222 DR MILLARD STITH PRESIDENT 0.50 X X 0 0 0 AUBREY W FOUNTAIN III TREASURER 0.50 X X 0 0 0 ALONZO BELL JR BOARD MEMBER 0.50 X 0 0 0 REGINIA BARNETT-TYLER SECRETARY 0.50 X X X 0 0 0 DR JOSEPH CHASE BOV APPOINTED LIAISON 0.50 X 0 0 0 KEVIN DAVENPORT NON-VOTING BOARD MEMBER 0.50 X X 0 0 0 JOYCE E HENDERSON EXECUTIVE DIRECTOR 30.00 X 36000 0 0 36000 0 0 false false false STUDENT HOUSING 531310 0 0 0 0 57185 0 0 REIMBUSEABLE INCOME 531110 2671975 2671975 0 0 OTHER REVENUE 531110 23960 23960 0 0 2695935 2753120 2753120 0 0 6829 6829 0 0 421902 421902 0 0 483789 483789 0 0 BANK SERVICE CHARGES 18539 18539 0 0 EMPLOYEE HIRING COST 0 0 0 0 MISC 25290 25290 0 0 OFFICE SUPPLIES 5070 5070 0 0 471726 349864 121862 0 1433145 1311283 121862 0 1492453 1806320 177688 192742 15868255 12006064 4345980 3862191 4877102 7647010 10893223 13508263 105574 89483 29862 29862 8758776 7549302 2964044 5316956 11858256 12985603 X -965033 522660 -965033 522660 10893223 13508263 X 1319975 167718 X true X true X true false X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4284270 3230309 7514579 0 0 7514579 0.00000 0.00000 X 0 0 0 0 542828 542828 12409488 9150685 3258803 2446131 2433939 12192 469808 421440 48368 3862191 SECURITY DEPOSITS 0 TENANT RENT RECEIVBLE 0 RESTRICTED CASH DEBT SERVICE 2626380 DEFERRED BOND 0 DUE FROM VSU TROJAN DEVELOPMENT COMPANY 0 DUE FROM VSU FOUNDATION 0 RESTRICTED CASH ECONOMIC DEVELOPMENT 5020630 7647010 INTEREST SWAP 280800 TENANT SECURITY DEPOSIT 15526 ACCRUED PROPERTY MANAGEMENT FEES 0 LINE OF CREDIT 0 REFUNDABLE ADVANCE 5020630 5316956 2753120 2753120 2753120 1433145 1433145 1433145 false 1 A VA SMALL BUSINESS FINANCING AUTHORITY 541300845 928104KL1 2008-08-01 21845842 REFINANCING OF BONDS false false false A 21845842 1067675 187799 20590368 true false true true A false false false false 0.00000 0.00000 0.00000 false 0.00000 A false true false 0.000000000000 0.000000000000 A false Pt XI CHANGE IN FAIR VALUE OF INTEREST RATE SWAP OBLIGATION Pt VI, Line 19 THE FINANCIAL STATEMENTS AND ALL GOVERNING DOCUMENTS ARE AVAILABLE FOR PUBLIC ACCESS UPON REQUEST Pt VI, Line 11b THE FORM 990 IS GIVEN TO THE EXECUTIVE DIRECTOR WHO REVIEWS IT AND GOES OVER WITH THE BOARD OF DIRECTORS FOR THEIR APPROVAL TO BE ISSUED. Pt VI, Line 15a THE ORGANIZATION DID A VERBAL SURVEY OF OTHER STATE UNIVERSITIES IN VIRGINIA TO LEARN ABOUT COMPENSATION FOR THEIR FOUNDATION EXECUTIVE DIRECTOR AND ALSO REVIEWED SALARY DATA (FROM SALARY.COM) FOR FOUNDATION EXECUTIVE DIRECTORS WITHIN THE STATE OF VIRGINIA FOCUSING ON SALARY INFORMATION FOR PETERSBURG, RICHMOND AND NORFOLK. Pt VI, Line 3 GREYSTAR WAS GRANTED MANAGEMENT DUTIES THROUGH JUNE 30, 2023, AND VIRGINIA STATE UNIVERSITY ASSUMED MANAGEMENT DUTIES EFFECTIVE JULY 1, 2023. Pt VI, Line 12c POLICY IMPLEMENTED IN 2015. BOARD MEMBERS REQUIRED TO UPDATE THE CONFLICT OF INTEREST FORM ANNUALLY AND WHEN CIRCUMSTANCES CHANGE THE INFORMATION ON FILE. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR SECURING THE ANNUAL UPDATES. Form 990, Part IX, Line 24e PERSONNEL SERVICES 25. 25. 0. 0. Form 990, Part IX, Line 24e POSTAGE 0. 0. 0. 0. Form 990, Part IX, Line 24e PROFESSIONAL FEES 205705. 83843. 121862. 0. Form 990, Part IX, Line 24e PROPERTY MANAGEMENT FEES 0. 0. 0. 0. Form 990, Part IX, Line 24e REPAIRS,MAINTENANCE 60203. 60203. 0. 0. Form 990, Part IX, Line 24e TELEPHONE 2609. 2609. 0. 0. Form 990, Part IX, Line 24e TRAINING 0. 0. 0. 0. Form 990, Part IX, Line 24e UTILITIES 132550. 132550. 0. 0. Form 990, Part IX, Line 24e BAD DEBT EXPENSE 0. 0. 0. 0. Form 990, Part IX, Line 24e ROUNDING DIFFERENCE 0. 0. 0. 0. Form 990, Part IX, Line 24e INSURANCE 3634. 3634. 0. 0. Form 990, Part IX, Line 24e CONTRIBUTIONS 67000. 67000. 0. 0.