Nonprofit · EIN 54-1666531
VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION
Tax-exempt · RICHMOND, VA 23284
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $12,945,192 | $7,708,691 | $5,236,501 | $95,921,689 | $32,476,137 | $63,445,552 |
| June 30, 2024 | 990 | $10,829,382 | $8,240,645 | $2,588,737 | $94,543,444 | $38,052,506 | $56,490,938 |
| June 30, 2023 | 990 | $10,248,910 | $7,516,351 | $2,732,559 | $98,443,315 | $46,952,535 | $51,490,780 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $11,424,206
- Investment income
- $1,520,986
- Net gain from sales of assets
- $1,394,654
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $55,807
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $48,383
- Accounting fees
- $28,300
- Occupancy
- $2,227,917
- Depreciation
- $3,404,826
- Program services (functional)
- $7,464,047
- Management and general (functional)
- $244,644
Balance sheet and other
- Total assets, start of year
- $94,543,444
- Total assets, end of year
- $95,921,689
- Total liabilities, end of year
- $32,476,137
- Net assets, end of year
- $63,445,552
- Land, buildings and equipment
- $78,030,479
- Net assets without donor restrictions
- $63,445,552
- Gross receipts
- $15,545,960
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1992
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR MICHAEL RAO | EX-OFFICIO DIRECTOR Trustee or director | 1 | $0 | $885,498 | $384,164 |
| BURT PINNOCK | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JEFF GEIGER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOSH GOLDSCHMIDT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JASON VICKERS-SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GEORGE EMERSON | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOHN BARKSDALE | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TIM DAVEY | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RENE B SHEPPERSON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JEFF TUNSTALL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRAD WELLES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR CLIFTON PEAY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 12 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR MICHAEL RAO | EX-OFFICIO DIRECTOR Trustee or director | 1 | $0 | $818,956 | $333,280 |
| BRIAN K JACKSON | VICE PRESIDENT & SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BURT PINNOCK | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RICHARD E BYRNE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS W PAPA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DR CLIFTON PEAY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GEORGE EMERSON | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOHN BARKSDALE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TIM DAVEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RENE B SHEPPERSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JEFF TUNSTALL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRAD WELLES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR MICHAEL RAO | EX-OFFICIO DIRECTOR Trustee or director | 1 | $0 | $787,036 | $372,660 |
| DEBORAH K FOURNESS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BRIAN K JACKSON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BURT PINNOCK | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RICHARD E BYRNE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT L HANSAN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOHN C JACOBY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS W PAPA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| SHANTARAM K TALEGAONKAR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GEORGE EMERSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 843075, RICHMOND, VA 23284-3075
- In care of
- % PAUL P JEZ
- Principal officer (990 for 2024)
- RENE B SHEPPERSON, PO BOX 843075, RICHMOND, VA 232843075
- Signed the 990
- RENE B SHEPPERSON, PRESIDENT
- Phone
- (804) 828-9292
- Website
- WWW.VCUREALESTATE.ORG
- Return prepared by
- BROWN EDWARDS & COMPANY LLP
Mission
THE FOUNDATION WAS FOUNDED FOR THE PURPOSE OF ACCEPTING, ACQUIRING, LEASING, SELLING OR DISPOSING, OPERATING AND/OR MANAGING PROPERTY FOR THE EXCLUSIVE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY.
Program accomplishments
- TO SUPPORT VIRGINIA COMMONWEALTH UNIVERSITY THROUGH THE MANAGEMENT OF REAL ESTATE USED IN THE UNIVERSITY'S EDUCATIONAL, SCIENTIFIC AND CHARITABLE ACTIVITIES.Expenses $7,464,047 · grants $55,807 · revenue $11,424,206
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1666531
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type III functionally integrated
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 1995
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B43)
- Assets (IRS master file)
- $95,921,689
- Income (IRS master file)
- $15,545,960
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $12,945,192 | $7,708,691 | $95,921,689 | XML |
| 990 | June 2024 | $10,829,382 | $8,240,645 | $94,543,444 | IRS |
| 990 | June 2023 | $10,248,910 | $7,516,351 | $98,443,315 | XML |
| 990 | June 2022 | $9,483,023 | $6,417,427 | $99,593,802 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-1666531).
Questions about VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION
- What is the EIN of VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION?
- The employer identification number (EIN) of VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION is 54-1666531.
- Is VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.
- Are donations to VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION?
- The 990 for the year ended June 30, 2025 names RENE B SHEPPERSON.
- Who are the officers and directors of VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 12 people; 0 received compensation from the organization.
- How much revenue does VIRGINIA COMMONWEALTH UNIVERSITY REAL ESTATE FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $12,945,192, expenses of $7,708,691 and total assets of $95,921,689 at year end.
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