Virginia State University Real Estate Foundation
Virginia State University Real Estate Foundation maintains operational stability despite persistent negative net assets.
EIN: 10681650 · Petersburg, VA · NTEE: B114 · Updated: 2026-03-27
Is Virginia State University Real Estate Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia State University Real Estate Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Virginia State University Real Estate Foundation
Virginia State University Real Estate Foundation (EIN: 10681650) is a nonprofit organization based in Petersburg, VA, classified under NTEE code B114. The organization reported total revenue of $2.8M and total assets of $13.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia State University Real Estate Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Virginia State University Real Estate Foundation with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Virginia State University Real Estate Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be uncompensated or compensated through an affiliated entity, which is a positive indicator for minimizing administrative overhead.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Virginia State University Real Estate Foundation's IRS 990 filings:
- Persistent negative net assets (liabilities consistently exceed assets, e.g., $11,858,256 liabilities vs. $10,715,535 assets in 2023).
- Lack of detailed explanation for the significant and growing liabilities relative to assets.
Strengths
The following positive indicators were identified for Virginia State University Real Estate Foundation:
- Consistent revenue generation exceeding expenses, indicating operational stability (e.g., $3,230,309 revenue vs. $2,615,879 expenses in 2023).
- 0% reported officer compensation across all filings, suggesting efficient administrative cost management.
- Stable asset base over the past decade, despite fluctuations in net assets.
Frequently Asked Questions about Virginia State University Real Estate Foundation
Is Virginia State University Real Estate Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Virginia State University Real Estate Foundation (EIN: 10681650) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Virginia State University Real Estate Foundation spend its money?
Virginia State University Real Estate Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Virginia State University Real Estate Foundation tax-deductible?
Virginia State University Real Estate Foundation is registered as a tax-exempt nonprofit (EIN: 10681650). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Virginia State University Real Estate Foundation financially healthy given its negative net assets?
While the foundation consistently generates more revenue than expenses, indicating operational stability, its persistent negative net assets (e.g., $10,715,535 assets vs. $11,858,256 liabilities in 2023) suggest a reliance on debt or specific financing structures that could pose long-term risks if not managed effectively.
What is the nature of the liabilities that consistently exceed assets?
The filings indicate that liabilities consistently outweigh assets, for example, $11,858,256 in liabilities against $10,715,535 in assets in 2023. A deeper dive into the specific types of liabilities (e.g., mortgages, bonds, inter-entity loans) would be necessary to fully understand their implications for the foundation's financial structure.
How does the organization manage its real estate assets and related debt?
As a real estate foundation, its core activities likely involve property acquisition, development, and management. The consistent revenue generation suggests active operations, but the high liabilities indicate significant financing, likely through mortgages or other real estate-backed debt, which is common in this sector but requires careful management.
Filing History
IRS 990 filing history for Virginia State University Real Estate Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Virginia State University Real Estate Foundation's revenue has declined by 4.2%, moving from $3.4M to $3.2M. Total assets decreased by 27.4% over the same period, from $14.8M to $10.7M. Total functional expenses fell by 19.8%, from $3.3M to $2.6M. In its most recent filing year (2023), Virginia State University Real Estate Foundation reported a surplus of $614K, with revenue exceeding expenses. The organization holds $11.9M in liabilities against $10.7M in assets (debt-to-asset ratio: 110.7%), resulting in net assets of $-1,142,721.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $2.6M | $10.7M | $11.9M | — | — |
| 2022 | $4.3M | $3.9M | $9.3M | $11.2M | — | View 990 |
| 2021 | $4.1M | $3.5M | $9.9M | $13.2M | — | View 990 |
| 2020 | $4.0M | $3.7M | $10.2M | $14.8M | — | View 990 |
| 2019 | $4.0M | $3.5M | $10.8M | $15.6M | — | View 990 |
| 2018 | $4.1M | $3.6M | $11.3M | $16.4M | — | View 990 |
| 2017 | $4.0M | $3.4M | $11.7M | $17.7M | — | View 990 |
| 2016 | $3.7M | $3.4M | $12.2M | $19.1M | — | View 990 |
| 2015 | $3.5M | $3.0M | $13.0M | $20.5M | — | View 990 |
| 2014 | $3.5M | $3.4M | $13.7M | $21.8M | — | View 990 |
| 2013 | $3.5M | $3.4M | $14.0M | $21.7M | — | View 990 |
| 2012 | $3.7M | $3.4M | $14.5M | $24.0M | — | View 990 |
| 2011 | $3.4M | $3.3M | $14.8M | $24.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $2.6M, and assets of $10.7M (revenue -24.6% year-over-year).
- 2022: Revenue of $4.3M, expenses of $3.9M, and assets of $9.3M (revenue +3.3% year-over-year).
- 2021: Revenue of $4.1M, expenses of $3.5M, and assets of $9.9M (revenue +2.5% year-over-year).
- 2020: Revenue of $4.0M, expenses of $3.7M, and assets of $10.2M (revenue +0.5% year-over-year).
- 2019: Revenue of $4.0M, expenses of $3.5M, and assets of $10.8M (revenue -1.4% year-over-year).
- 2018: Revenue of $4.1M, expenses of $3.6M, and assets of $11.3M (revenue +2.5% year-over-year).
- 2017: Revenue of $4.0M, expenses of $3.4M, and assets of $11.7M (revenue +6.8% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.4M, and assets of $12.2M (revenue +6.1% year-over-year).
- 2015: Revenue of $3.5M, expenses of $3.0M, and assets of $13.0M (revenue -0.1% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.4M, and assets of $13.7M (revenue -0.4% year-over-year).
- 2013: Revenue of $3.5M, expenses of $3.4M, and assets of $14.0M (revenue -4.7% year-over-year).
- 2012: Revenue of $3.7M, expenses of $3.4M, and assets of $14.5M (revenue +9.9% year-over-year).
- 2011: Revenue of $3.4M, expenses of $3.3M, and assets of $14.8M.
Data Sources and Methodology
This transparency report for Virginia State University Real Estate Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.