2026-08-12T13:12:11-07:00 2025-12-31 200592958 LARRY SAUNDERS & ASSOCIATES 2902 CHAMBERLAYNE AVE RICHMOND VA 23222 990 2025-01-01 010681650 VIRGINIA STATE UNIVERSITY REAL ESTATE FOUNDATION VIRG 8045245995 4010 J MITCHELL JONES DRIVE PETERSBURG VA 23803 KEVIN DAVENPORT EXECUTIVE DIRECTOR 8045245995 2026-08-12 true James E Benson P00175791 8043218512 2026-08-12 2025 2025-03-06 01:10:19Z JOYCE HENDERSON 4010 J MITCHELL JONES DRIVE PETERSBURG VA 23803 6197002 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 3900000 0 0 57185 156430 2695935 2140572 2753120 6197002 0 0 0 0 0 1433145 1338081 1433145 1338081 1319975 4858921 13508263 6523008 12985603 1185263 522660 5337745 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 1174094 0 6197002 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. 1174094 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 false false false false false true 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 51833 0 0 51833 0 0 false false false INNATECH ENTERPRISES LLC 576 N BIRDNECK RD 183 VIRGINIA BEACH VA 23451 MONTHLY SECURITY MONITORING 227384 MCQUIRE WOODS 800 E CANAL STREET RICHMOND VA 232193916 LEGAL SERVICES 139932 2 3900000 3900000 STUDENT HOUSING 531310 0 0 0 0 0 0 0 156430 0 0 REIMBUSEABLE INCOME 531110 2110710 2110710 0 0 OTHER REVENUE 531110 29862 29862 0 0 2140572 6197002 2297002 0 0 9732 9732 0 0 181053 181053 0 0 482459 482459 0 0 BANK SERVICE CHARGES 19725 19725 0 0 EMPLOYEE HIRING COST 0 0 0 0 MISC 7086 7086 0 0 OFFICE SUPPLIES 7051 7051 0 0 630975 466988 163987 0 1338081 1174094 163987 0 1806320 1645190 192742 205376 15868255 12488523 3862191 3379732 7647010 1292710 13508263 6523008 89483 68063 29862 0 7549302 0 5316956 1117200 12985603 1185263 X 522660 5337745 522660 5337745 13508263 6523008 X 4858921 -43836 X true X true X true false X 0 0 0 0 3900000 3900000 0 0 0 0 0 3900000 3900000 0 3900000 4284270 3230309 2753120 6197002 16464701 0 0 20364701 0.19150 0.00000 X 0 0 0 Pt II Ln 17a The VSUREF received $3,900,000 in contributions for the bonds payoff. 0 542828 542828 12409488 9599512 2809976 2446131 2446131 0 469808 442880 26928 3379732 SECURITY DEPOSITS 0 TENANT RENT RECEIVBLE 0 RESTRICTED CASH DEBT SERVICE 0 DEFERRED BOND 0 DUE FROM VSU TROJAN DEVELOPMENT COMPANY 0 DUE FROM VSU FOUNDATION 0 RESTRICTED CASH ECONOMIC DEVELOPMENT 1100000 OTHER CURRENT ASSETS 192710 1292710 INTEREST SWAP 0 TENANT SECURITY DEPOSIT 17200 ACCRUED PROPERTY MANAGEMENT FEES 0 LINE OF CREDIT 0 REFUNDABLE ADVANCE 1100000 1117200 6197002 6197002 6197002 1338081 1338081 1338081 false 1 A VA SMALL BUSINESS FINANCE AUTHORITY 541300845 928104KL1 2008-08-01 21845842 REFNANCING OF BONDS false false false A B 20590368 MILLIARD STITH BOARD CHAIRMAN 25000 DONATION TO COMMUNITY CENTER false KEVIN DAVENPORT BOARD MEMBER 3000 CONTRIBUTION TO ENDOWMENT FUND 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. Pt XI OTHER CHANGES CONSIST OF LOSS ON EXTINGUISHMENT OF BONDS Pt XI CHANGE IN FAIR VALUE OF INTEREST OF SWAP AND OTHER. Form 990, Part IX, Line 24e PERSONNEL SERVICES 0. 0. 0. 0. Form 990, Part IX, Line 24e POSTAGE 0. 0. 0. 0. Form 990, Part IX, Line 24e PROFESSIONAL FEES 405358. 241371. 163987. 0. Form 990, Part IX, Line 24e PROPERTY MANAGEMENT FEES 0. 0. 0. 0. Form 990, Part IX, Line 24e REPAIRS,MAINTENANCE 80088. 80088. 0. 0. Form 990, Part IX, Line 24e TELEPHONE 2826. 2826. 0. 0. Form 990, Part IX, Line 24e TRAINING 0. 0. 0. 0. Form 990, Part IX, Line 24e UTILITIES 111146. 111146. 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 3557. 3557. 0. 0. Form 990, Part IX, Line 24e CONTRIBUTIONS 28000. 28000. 0. 0.