VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION (EIN 010681650) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Phone

8046914744

Tax Period

2024-01-01 to 2024-12-31

VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION, founded in 2002, is a community nonprofit in the Education sector that reported $4.1M in total revenue in fiscal year 2018. Expenses of $3.6M left a modest 11% surplus.

Mission

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.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $57,185

Other Revenue $2,695,935

TOTAL REVENUE $2,753,120

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,311,283

Other Expenses $1,433,145

TOTAL EXPENSES $1,433,145

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,753,120	$3,407,997	-0.2%
Expenses	$1,433,145	$2,615,879	-0.5%
Net Income	$1,319,975	$792,118	+0.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$36,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR MILLARD STITH	PRESIDENT	0.50	Officer Director	$0	$0	$0
AUBREY W FOUNTAIN III	TREASURER	0.50	Officer Director	$0	$0	$0
ALONZO BELL JR	BOARD MEMBER	0.50	Director	$0	$0	$0
REGINIA BARNETT-TYLER	SECRETARY	0.50	Officer Director	$0	$0	$0
DR JOSEPH CHASE	BOV APPOINTED LIAISON	0.50	Director	$0	$0	$0
KEVIN DAVENPORT NON-VOTING	BOARD MEMBER	0.50	Director	$0	$0	$0
JOYCE E HENDERSON	EXECUTIVE DIRECTOR	30.00	Officer	$36,000	$0	$36,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,753,120	$1,433,145	$13,508,263	$1,319,975
2023	$3,230,309	$2,615,879	$10,715,535	$614,430
2022	$4,284,270	$3,920,367	$9,306,796	$363,903
2021	$4,148,229	$3,520,373	$9,858,832	$627,856
2020	$4,048,175	$3,727,847	$10,167,530	$320,328
2019	$4,029,074	$3,515,318	$10,805,076	$513,756
2018	$4,084,452	$3,627,365	$11,314,391	$457,087

VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION