AUBURN UNIVERSITY REAL ESTATE FOUNDATION INC

EIN: 562535892 501(c)(3) Education

AUBURN, AL

Total Revenue
$341,851
Total Expenses
$2,681,401
Total Assets
$19,330,335
Net Assets
$17,905,129
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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
AL
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 community nonprofit in the Education sector that reported $4.4M in total revenue in fiscal year 2017. Revenue surged 519% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.6M, a strong 81% operating margin.

Mission

THE ORGANIZATION OPERATES FOR THE EXCLUSIVE BENEFIT AND ADVANCING THE MISSION OF AUBURN UNIVERSITY, AN EDUCATIONAL, LAND-GRANT INSTITUTION WHICH IS TAX EXEMPT UNDER IRC SECTION 115 AND AUBURN UNIVERSITY FOUNDATION, A NONPROFIT CORPORATION WHICH WAS ORGANIZED FOR THE SUPPORT OF AUBURN UNIVERSITY.

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

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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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Governance

Voting Members
6
Independent Members
6
Employees
18
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
10
$1,709,813
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
2
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
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