CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION

EIN: 541863192 501(c)(3) Education

NEWPORT NEWS, VA

Total Revenue
$3,844,351
Total Expenses
$4,063,459
Total Assets
$121,335,730
Net Assets
$10,553,968
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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
VA
Principal Officer
SPENCER MCDONALD
Phone
7575947941
Tax Period
2023-07-01 to 2024-06-30

CHRISTOPHER NEWPORT UNIVERSITY REAL ESTATE FOUNDATION, founded in 1997, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2018. Expenses of $2.5M left a modest 6% surplus.

Mission

TO RECEIVE, ADMINISTER AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF THE CHRISTOPHER NEWPORT UNIVERSITY.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $34,626
Other Revenue $3,809,725
TOTAL REVENUE $3,844,351

Expense Breakdown

Grants Paid $3,297,751
Salaries & Benefits $526,905
Fundraising Expenses $0
Program Expenses $3,297,751
Other Expenses $238,803
TOTAL EXPENSES $4,063,459

Year-over-Year Comparison

2023 2022 Change
Revenue $3,844,351 $4,121,962 -0.1%
Expenses $4,063,459 $3,847,537 +0.1%
Net Income $-219,108 $274,425 -1.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
12
Employees
1
Volunteers
12

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
4
$708,864
Total Directors
16
$1,195,360
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM KELLY BOARD MEMBER 10.00
Director
$0 $12,566 $224,448
ADELIA P THOMPSON BOARD MEMBER 10.00
Director
$0 $24,905 $438,503
JENNIFER LATOUR SECRETARY 10.00
Officer Director
$0 $32,894 $284,530
C BRAD HUNTER BOARD 1.00
Director
$0 $0 $0
ALAN WITT BOARD MEMBER 1.00
Director
$0 $21,460 $247,879
ANN HUNNICUT BOARD MEMBER 1.00
Director
$0 $0 $0
RANDOLPH P BRYANT BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL C MARTIN PRESIDENT 10.00
Director
$0 $0 $0
WILLIAM P HEATH JR BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM L BRAUER BOARD MEMBER 1.00
Director
$0 $0 $0
LINDSEY CARNEY SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
W BRUCE JENNINGS BOARD MEMBER 1.00
Director
$0 $0 $0
M CLARK BALDWIN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
STEVEN A MEADE BOARD MEMBER 1.00
Director
$0 $0 $0
CHARLES WORNOM BOARD MEMBER 1.00
Director
$0 $0 $0
C LARRY POPE BOARD OF VISITORS APPOINTEE 1.00
Director
$0 $0 $0
K SPENCER MCDONALD CFO & TREASURER 20.00
Officer
$0 $13,720 $161,620
DOUGLAS L HORNSBY CHIEF EXECUTIVE OFFICER 20.00
Officer
$0 $23,915 $262,714
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
2025 No data No data No data No data
2024 $3,844,351 $4,063,459 $121,335,730 $-219,108
2023 $4,121,962 $3,847,537 $122,142,733 $274,425
2022 $4,470,833 $3,549,157 $113,342,924 $921,676
2021 $4,260,889 $3,355,323 $114,865,272 $905,566
2020 $3,160,598 $2,556,932 $117,249,922 $603,666
2019 $2,634,280 $2,471,213 $105,277,306 $163,067
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