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Nonprofiteer
← LAWRENCE TECHNOLOGICAL UNIVERSITY

Form 990 for tax year 2022

Filed by LAWRENCE TECHNOLOGICAL UNIVERSITY.

Totals

Total revenue
$81,742,284
Total expenses
$86,222,584
Contributions and grants received
$10,671,409
Grants paid
$0
Program service revenue
$68,543,410
Investment income
$2,985,070
Other revenue
-$457,605
Total assets, end of year
$205,364,493
Total liabilities, end of year
$79,159,782
Net assets or fund balances, end of year
$126,204,711
Program services expenses (Part IX)
$60,609,041
Management and general expenses
$19,091,321
Fundraising expenses
$6,522,222
Program service expenses (Part III)
$60,609,041

Program services were 70.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $4,014,774

  • 1f · All other contributions, gifts and grants

    $6,656,635

  • 1g · Noncash contributions included above

    $0

  • 2f · All other program service revenue

    total $68,543,410 · related or exempt $68,543,410 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,985,070 · related or exempt $2,985,070 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $618,768 · personal property $0

  • 6b · Less rental expenses

    real property $1,076,373 · personal property $0

  • 6c · Rental income or loss

    real property -$457,605 · personal property $0

  • 6d · Net rental income or loss

    total -$457,605 · related or exempt -$457,605 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $2,363,620 · program services $1,032,900 · management and general $1,116,780 · fundraising $213,940

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $38,878,178 · program services $29,248,590 · management and general $8,380,486 · fundraising $1,249,102

  • 8 · Pension plan contributions

    total $163,569 · program services $264,835 · management and general -$115,732 · fundraising $14,466

  • 9 · Other employee benefits

    total $2,351,806 · program services $1,998,197 · management and general $257,054 · fundraising $96,555

  • 10 · Payroll taxes

    total $2,485,870 · program services $2,114,688 · management and general $267,216 · fundraising $103,966

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $126,603 · program services $0 · management and general $126,603 · fundraising $0

  • 11c · Fees: accounting

    total $180,825 · program services $0 · management and general $180,825 · fundraising $0

  • 11d · Fees: lobbying

    total $1,295 · program services $0 · management and general $0 · fundraising $1,295

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $638,191 · program services $530,306 · management and general $13,200 · fundraising $94,685

  • 13 · Office expenses

    total $3,729,821 · program services $3,004,176 · management and general $612,349 · fundraising $113,296

  • 14 · Information technology

    total $1,769,157 · program services $1,769,157 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $2,241,332 · program services $1,860,874 · management and general $180,188 · fundraising $200,270

  • 17 · Travel

    total $2,272,828 · program services $1,942,139 · management and general $253,928 · fundraising $76,761

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $3,426,350 · program services $1,325,190 · management and general $2,015,216 · fundraising $85,944

  • 20 · Interest

    total $2,389,028 · program services $1,662,447 · management and general $547,666 · fundraising $178,915

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $6,027,722 · program services $4,471,542 · management and general $1,074,946 · fundraising $481,234

  • 23 · Insurance

    total $740,823 · program services $21,806 · management and general $719,017 · fundraising $0

  • 24a · Other expenses: BAD DEBT EXPENSES

    total $563,183 · program services $0 · management and general $563,183 · fundraising $0

  • 24b · Other expenses: EQUIPMENT RENTAL

    total $2,579,562 · program services $823,800 · management and general $1,530,758 · fundraising $225,004

  • 24c · Other expenses: PRINTING PUBLICATIONS POSTAGE OTHER

    total $514,351 · program services $247,193 · management and general $54,203 · fundraising $212,955

  • 24d · Other expenses: MISCELLANEOUS COSTS

    total $3,310,705 · program services $2,653,312 · management and general $646,954 · fundraising $10,439

  • 24e · All other expenses

    total $9,467,765 · program services $5,637,889 · management and general $666,481 · fundraising $3,163,395

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,540,010 · end of year $3,578,851

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $1,175,109 · end of year $1,092,307

  • 4 · Accounts receivable

    beginning of year $7,485,578 · end of year $7,920,182

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $283,890 · end of year $222,337

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,801,336 · end of year $2,085,883

  • 10a · Land, buildings and equipment: cost or other basis

    $220,212,097

  • 10b · Land, buildings and equipment: accumulated depreciation

    $116,585,201

  • 10c · Land, buildings and equipment, net

    beginning of year $104,262,169 · end of year $103,626,896

  • 11 · Investments: publicly traded securities

    beginning of year $77,016,769 · end of year $80,661,231

  • 12 · Investments: other securities

    beginning of year $5,859,634 · end of year $6,176,806

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,116,232 · end of year $17,421,320

  • 18 · Grants payable

    beginning of year $188,457 · end of year $173,208

  • 19 · Deferred revenue

    beginning of year $5,088,922 · end of year $5,713,232

  • 20 · Tax-exempt bond liabilities

    beginning of year $54,873,114 · end of year $54,366,739

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,361,684 · end of year $1,485,283

  • 27 · Net assets without donor restrictions

    beginning of year $57,536,125 · end of year $56,738,963

  • 28 · Net assets with donor restrictions

    beginning of year $69,259,961 · end of year $69,465,748

Mission and programs · 2022

Mission

To develop leaders through innovative and agile programs embracing theory and practice.

Activities or mission (Part I)

A higher educational University by its mission to develop leaders through innovative and agile programs embracing theory and practice. The University's Vision is to be a preeminent private university producing leaders with an entrepreneurial spirit and global view.

  • Higher Education : Associates, Baccalaureate, Graduate Program Services were provided to 3,447 students and 600 received degrees. This activity contributes importantly to the University's purpose by providing funding for educational services at less than the aggregate costs of these services. This is the exempt purpose of the University.

    Expenses $50,474,650 · Revenue $61,313,331

  • Higher Education : Campus apartments, residences, and residential services were provided for 938 students primarily in housing. These activities are important components for the University's primary exempt purpose of providing educational services. These activities include housing, cafeteria services, bookstore services, and other related services deemed necessary for the students.

    Expenses $697,347 · Revenue $6,517,843

  • Higher Education : Student Activities - Academic associations, student government, recreational and athletic programs. Participation in various associations were used by 2,505 students. These activities are important components for the University's primary exempt purposes of providing educational services. These activities include library, copier, transcripts, fines and other various services.

    Expenses $9,437,044 · Revenue $712,236

As filed on the 2022 return.

Listed in Part VII

  • Tarek Sobh

    PRESIDENT

    Total calculated
    $737,203
    From this org
    $737,203
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $737,203
    Bonus
    $0
    Other
    $0
    Deferred
    $4,575
    Nontaxable benefits
    $25,248
    Filer's total
    $767,026

  • Nabil Grace

    Dean of Engineering

    Total calculated
    $403,196
    From this org
    $403,196
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $403,196
    Bonus
    $0
    Other
    $0
    Deferred
    $4,575
    Nontaxable benefits
    $20,608
    Filer's total
    $428,379

  • Daniel Radomski

    EXECUTIVE DIRECTOR OF ACCELERATOR

    Total calculated
    $366,723
    From this org
    $366,723
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $366,723
    Bonus
    $0
    Other
    $0
    Deferred
    $45,750
    Nontaxable benefits
    $19,955
    Filer's total
    $432,428

  • Linda Height

    Chief Financial Officer

    Total calculated
    $241,277
    From this org
    $241,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,277
    Bonus
    $0
    Other
    $0
    Deferred
    $3,615
    Nontaxable benefits
    $17,457
    Filer's total
    $262,349

  • Richard Heist

    PROVOST

    Total calculated
    $240,000
    From this org
    $240,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,000
    Bonus
    $0
    Other
    $0
    Deferred
    $3,600
    Nontaxable benefits
    $15,888
    Filer's total
    $259,488

  • Karl Daubmann

    Dean of Architecture

    Total calculated
    $226,425
    From this org
    $226,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,425
    Bonus
    $0
    Other
    $0
    Deferred
    $3,390
    Nontaxable benefits
    $18,353
    Filer's total
    $248,168

  • Bahman Mirshab

    Dean of College of Management

    Total calculated
    $223,985
    From this org
    $223,985
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,985
    Bonus
    $0
    Other
    $0
    Deferred
    $3,345
    Nontaxable benefits
    $28,793
    Filer's total
    $256,123

  • Lisa Kujawa

    Associate Provost

    Total calculated
    $215,618
    From this org
    $215,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,618
    Bonus
    $0
    Other
    $0
    Deferred
    $3,225
    Nontaxable benefits
    $26,682
    Filer's total
    $245,525

  • Kevin Finn

    VP OF PHILANTHROPY

    Total calculated
    $213,940
    From this org
    $213,940
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,940
    Bonus
    $0
    Other
    $0
    Deferred
    $3,195
    Nontaxable benefits
    $14,226
    Filer's total
    $231,361

  • Patrick Nelson

    INTERIM DEAN OF ARTS AND SCIENCES

    Total calculated
    $179,294
    From this org
    $179,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,294
    Bonus
    $0
    Other
    $0
    Deferred
    $2,685
    Nontaxable benefits
    $12,282
    Filer's total
    $194,261

  • Srinivas Kambhampati

    Dean of Arts & Science

    Total calculated
    $174,720
    From this org
    $174,720
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Greg Cascione

    VP OF PHILANTHROPY

    Total calculated
    $105,374
    From this org
    $105,374
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Victor A Saroki

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Raymond Khan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David B Wohleen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Douglas E Ebert

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    3

  • Larry D Lyons

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Mitchell Clauw

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Daniel W Winey

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Nicholson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Beth Howell Baker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Donna Bell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jeff Lemmer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christine Barman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Beverly Hannah-Jones

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Martin Manna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Niki Kennedy MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
AN AUTOMOBILE AND HOUSING RESIDENCE IS FURNISHED FOR THE PRESIDENT OF THE UNIVERSITY.
Schedule J, Part I, Line 3
THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR DOCUMENTING THE UNIVERSITY'S PRESIDENT COMPENSATION WHICH IS DONE ANNUALLY.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
10 January 2024
IRS schema version
2022v5.0
Source object
202430169349300518

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