AUBURN UNIVERSITY REAL ESTATE FOUN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

ROB WELLBAUM

Phone

3348447048

Tax Period

2023-10-01 to 2024-09-30

AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC, founded in 2005, is a small nonprofit in the Education sector that reported $342K in total revenue in fiscal year 2023. Revenue fell 92% from the prior year — a significant decline worth monitoring. Expenses of $2.7M exceeded revenue, resulting in a 684% operating deficit.

Mission

THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT OF AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION.

Program Service Accomplishments

Program 1

Expenses: $2,358,430

ADMINISTRATION AND SALE OF REAL PROPERTY AND SUBSEQUENT TRANSFER OF NET PROCEEDS TO AUBURN UNIVERSITY FOUNDATION FOR USE BY THE DEAN OF THE COLLEGE OF AGRICULTURE.

Program 2

Expenses: $89,921

EXPENSES INCURRED TO MANAGE AND MAINTAIN REAL PROPERTY IN ACCORDANCE WITH THE MISSION OF THE ORGANIZATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $337,453

Program Service Revenue $0

Investment Income $-5,130

Other Revenue $9,528

TOTAL REVENUE $341,851

Expense Breakdown

Grants Paid $2,358,430

Salaries & Benefits $108,774

Fundraising Expenses $23,392

Program Expenses $2,448,351

Other Expenses $214,197

TOTAL EXPENSES $2,681,401

Year-over-Year Comparison

	2023	2022	Change
Revenue	$341,851	$4,361,188	-0.9%
Expenses	$2,681,401	$1,423,467	+0.9%
Net Income	$-2,339,550	$2,937,721	-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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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

Volunteers

1607

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

$1,709,813

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE CATES	CHAIR	0.50	Officer Director	$0	$0	$0
PATRICK HENRY	VICE CHAIR AND TREASURER	0.50	Officer Director	$0	$0	$0
BEAU BYRD	DIRECTOR	0.50	Director	$0	$0	$0
BENNY LARUSSA	DIRECTOR (RESIGNED 7/15/2024)	0.50	Director	$0	$0	$0
DAVID WELCH	DIRECTOR	0.50	Director	$0	$0	$0
GREG WINCHESTER	DIRECTOR	0.50	Director	$0	$0	$0
JOHN THOMAS	DIRECTOR	0.50	Director	$0	$0	$0
ROB WELLBAUM	PRESIDENT	2.00	Officer	$293,808	$57,141	$402,797
ANGIE STEPHENS	VICE PRESIDENT (RETIRED 12/1/2023)	7.50	Officer	$204,063	$40,681	$273,364
ERIN LEWIS	CHIEF OPERATIONS OFFICER	3.50	Officer	$253,288	$44,871	$326,302
WILLIAM B HUGHES	CHIEF FINANCIAL OFFICER	3.50	Officer	$74,361	$35,517	$216,886
TIMOTHY JONES	ISO (VACATED 5/1/2024)	0.50	Officer	$115,072	$31,303	$163,570
CAROLYN BURROUGHS	ASSISTANT TREASURER	4.00	Officer	$80,313	$23,438	$108,877
LAUREL HENDRIX	ASSISTANT SECRETARY	1.50	Officer	$40,909	$16,350	$98,168
WANDA SPEROW	SECRETARY	1.00	Officer	$9,448	$25,373	$119,849
LEE SHEPPARD	ASST. DIR OF FINANCE	3.50	Highest	$49,927	$23,217	$134,165
CHARLES SALIBA	TECHNOLOGY ARCHITECH	0.50	Highest	$94,978	$15,232	$123,162
JOHN MORRIS	PRESIDENT (RESIGNED 8/1/2023)	0.00		$241,247	$23,092	$303,938

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	$341,851	$2,681,401	$19,330,335	$-2,339,550
2023	$4,361,188	$1,423,467	$21,647,679	$2,937,721
2022	$10,156,040	$339,289	$19,953,551	$9,816,751
2021	$4,197,642	$1,285,995	$9,739,836	$2,911,647
2020	$484,275	$1,238,649	$6,805,640	$-754,374
2019	$130,327	$444,402	$7,578,905	$-314,075
2018	$4,431,548	$822,606	$7,894,488	$3,608,942

AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC