Totals
- Total revenue
- $79,233,946
- Total expenses
- $73,721,920
- Contributions and grants received
- $13,904,363
- Grants paid
- $20,446,625
- Program service revenue
- $64,025,312
- Investment income
- $1,232,566
- Other revenue
- $71,705
- Total assets, end of year
- $130,732,216
- Total liabilities, end of year
- $10,798,182
- Net assets or fund balances, end of year
- $119,934,034
- Program services expenses (Part IX)
- $63,363,583
- Management and general expenses
- $8,468,987
- Fundraising expenses
- $1,889,350
- Program service expenses (Part III)
- $63,363,583
Program services were 85.9% 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.
-
1e · Government grants (contributions)
$2,323,640
-
1f · All other contributions, gifts and grants
$11,580,723
-
1g · Noncash contributions included above
$204,898
-
2a · Program service revenue: TUITION AND FEES
total $54,155,434 · related or exempt $54,155,434
-
2b · Program service revenue: AUXILIARY
total $9,432,857 · related or exempt $9,432,857
-
2c · Program service revenue: MISCELLANEOUS
total $437,021 · related or exempt $437,021
-
3 · Investment income
total $1,292,801 · excluded $1,292,801
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $220,205
-
6b · Less rental expenses
real property $148,500
-
6c · Rental income or loss
real property $71,705 · personal property $0
-
6d · Net rental income or loss
total $71,705 · excluded $71,705
-
7a · Gross sales of assets other than inventory
securities $8,742
-
7b · Less cost or other basis and sales expenses
securities $10,505 · other assets $58,472
-
7c · Gain or loss
securities -$1,763 · other assets -$58,472
-
7d · Net gain or loss
total -$60,235 · excluded -$60,235
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $20,446,625 · program services $20,446,625
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $1,189,162 · program services $189,081 · management and general $903,990 · fundraising $96,091
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $22,157,729 · program services $18,618,024 · management and general $2,551,246 · fundraising $988,459
-
8 · Pension plan contributions
total $1,107,247 · program services $922,070 · management and general $136,223 · fundraising $48,954
-
9 · Other employee benefits
total $3,703,096 · program services $3,001,902 · management and general $529,110 · fundraising $172,084
-
10 · Payroll taxes
total $1,695,846 · program services $1,369,200 · management and general $248,004 · fundraising $78,642
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $43,636 · program services $11,019 · management and general $15,539 · fundraising $17,078
-
11c · Fees: accounting
total $88,200 · program services $6,500 · management and general $76,900 · fundraising $4,800
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $117,061 · fundraising $117,061
-
11f · Fees: investment management
total $32,668 · management and general $32,668
-
11g · Fees: other
total $5,580,885 · program services $4,534,323 · management and general $948,914 · fundraising $97,648
-
12 · Advertising and promotion
total $513,285 · program services $142,381 · management and general $365,895 · fundraising $5,009
-
13 · Office expenses
total $2,461,863 · program services $2,009,278 · management and general $324,588 · fundraising $127,997
-
14 · Information technology
total $1,075,706 · management and general $1,075,706
-
15 · Royalties
total $0
-
16 · Occupancy
total $4,540,139 · program services $4,232,698 · management and general $274,498 · fundraising $32,943
-
17 · Travel
total $1,239,716 · program services $1,021,054 · management and general $163,476 · fundraising $55,186
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $163,858 · program services $98,479 · management and general $55,454 · fundraising $9,925
-
20 · Interest
total $157,557 · program services $148,241 · management and general $9,316
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $4,880,889 · program services $4,540,488 · management and general $303,107 · fundraising $37,294
-
23 · Insurance
total $617,996 · program services $183,026 · management and general $434,970
-
24a · Other expenses: GRANT EXPENDITURES
total $1,888,409 · program services $1,888,409
-
24b · Other expenses: TAXES
total $20,347 · program services $785 · management and general $19,383 · fundraising $179
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $384,474 · end of year $248,630
-
2 · Savings and temporary cash investments
beginning of year $20,192,252 · end of year $11,997,025
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $5,306,481
-
4 · Accounts receivable
beginning of year $485,635 · end of year $586,250
-
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 $1,088,171 · end of year $617,643
-
8 · Inventories for sale or use
beginning of year $200,558 · end of year $139,969
-
9 · Prepaid expenses and deferred charges
beginning of year $644,292 · end of year $762,163
-
10a · Land, buildings and equipment: cost or other basis
$153,601,946
-
10b · Land, buildings and equipment: accumulated depreciation
$92,721,660
-
10c · Land, buildings and equipment, net
beginning of year $59,163,525 · end of year $60,880,286
-
11 · Investments: publicly traded securities
beginning of year $11,536,879 · end of year $19,277,179
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
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 $32,390,067 · end of year $30,916,590
-
17 · Accounts payable and accrued expenses
beginning of year $2,628,429 · end of year $3,782,364
-
18 · Grants payable
beginning of year $481,354 · end of year $0
-
19 · Deferred revenue
beginning of year $2,884,975 · end of year $2,633,481
-
20 · Tax-exempt bond liabilities
beginning of year $3,819,325 · end of year $2,671,039
-
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 $4,808,449 · end of year $1,711,298
-
27 · Net assets without donor restrictions
beginning of year $88,936,535 · end of year $87,519,222
-
28 · Net assets with donor restrictions
beginning of year $22,526,786 · end of year $32,414,812
Mission and programs · 2022
Mission
LETOURNEAU UNIVERSITY IS A COMPREHENSIVE INSTITUTION OF CHRISTIAN HIGHER EDUCATION WHERE EDUCATORS ENGAGE LEARNERS TO NURTURE CHRISTIAN VIRTUE, TO DEVELOP COMPETENCY AND INGENUITY IN THEIR PROFESSIONAL FIELDS, TO INTEGRATE FAITH AND WORK, AND TO SERVE THE LOCAL AND GLOBAL COMMUNITY.
Activities or mission (Part I)
LETU IS A PRIVATE, INTERDENOMINATIONAL, EVANGELICAL CHRISTIAN INSTITUTION OF MORE THAN 3,000 STUDENTS CLAIMING EVERY WORKPLACE AND EVERY NATION AS ITS MISSION FIELD.
-
TRADITIONAL STUDENT EDUCATION - LETU IS CONSISTENTLY RANKED BY US NEWS AND WORLD REPORT IN THE TOP TIER AMONG REGIONAL UNIVERSITIES IN THE WEST. LETU PROVIDES UNDERGRADUATE PROGRAMS FOR TRADITIONAL STUDENTS IN ENGINEERING, TECHNOLOGY, THE LIBERAL ARTS, NURSING, BUSINESS, AERONAUTICAL SCIENCE, EDUCATION, AND THE SCIENCES AT THE MAIN CAMPUS IN LONGVIEW, TEXAS. A TOTAL OF 283 TRADITIONAL UNDERGRADUATE STUDENTS GRADUATED DURING FISCAL YEAR 22/23. ADDITIONALLY, TRADITIONAL GRADUATE PROGRAMS IN ENGINEERING ARE OFFERED. A TOTAL OF 1 TRADITIONAL GRADUATE STUDENT GRADUATED DURING FISCAL YEAR 22/23.
Expenses $54,916,488 · Grants $18,863,497 · Revenue $55,117,656
-
NONTRADITIONAL STUDENT EDUCATION - LETU PROVIDES UNDERGRADUATE PROGRAMS FOR NONTRADITIONAL STUDENTS ONLINE AND IN-PERSON IN BIBLICAL STUDIES, BUSINESS, COMPUTER INFORMATION SYSTEMS, CYBER SECURITY, CRIMINAL JUSTICE, EDUCATION, HEALTHCARE, HUMAN SERVICES, INTERDISCIPLINARY STUDIES, AND PSYCHOLOGY. A TOTAL OF 114 NONTRADITIONAL UNDERGRADUATE STUDENTS GRADUATED DURING FISCAL YEAR 22/23. ADDITIONALLY, NONTRADITIONAL GRADUATE PROGRAMS IN BUSINESS, EDUCATION, PSYCHOLOGY, AND HEALTHCARE ADMINISTRATION ARE OFFERED. A TOTAL OF 73 NONTRADITIONAL GRADUATE STUDENTS GRADUATED DURING FISCAL YEAR 22/23.
Expenses $5,060,825 · Grants $1,955 · Revenue $4,913,174
-
OTHER PROGRAM SERVICES INCLUDE TRANSACTIONS INVOLVED WITH SUMMER AND SPORTS CAMPS, EDUCATIONAL TRIPS, GOVERNMENT AND PRIVATE GRANTS FOR RESEARCH, AND THE UNIVERSITY'S PERFORMING ARTS CENTER.
Expenses $3,386,270 · Grants $1,581,173 · Revenue $3,994,482
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Dale LunsfordDR DALE LUNSFORD
CHANCELLOR
- Total calculated
- $455,381
- From this org
- $426,781
- From related orgs
- $0
- Other
- $28,600
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $321,910
- Bonus
- $0
- Other
- $104,871
- Deferred
- $21,350
- Nontaxable benefits
- $7,250
- Filer's total
- $455,381
-
Dr Steven MasonDR STEVEN MASON
PRESIDENT
- Total calculated
- $371,759
- From this org
- $348,065
- From related orgs
- $0
- Other
- $23,694
- Hours/week
- 59 + 1 related
Schedule J breakdown matched by us
- Base
- $284,398
- Bonus
- $0
- Other
- $63,667
- Deferred
- $16,051
- Nontaxable benefits
- $7,643
- Filer's total
- $371,759
-
Dr Ben CaldwellDR BEN CALDWELL
PROVOST
- Total calculated
- $190,627
- From this org
- $168,153
- From related orgs
- $0
- Other
- $22,474
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $167,929
- Bonus
- $0
- Other
- $224
- Deferred
- $12,022
- Nontaxable benefits
- $10,452
- Filer's total
- $190,627
-
Mike HoodMIKE HOOD
VP FOR FINANCE AND ADMIN
- Total calculated
- $173,176
- From this org
- $154,776
- From related orgs
- $0
- Other
- $18,400
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $153,411
- Bonus
- $0
- Other
- $1,365
- Deferred
- $10,376
- Nontaxable benefits
- $8,024
- Filer's total
- $173,176
-
Terry A ZeitlowTERRY A ZEITLOW
VICE PRESIDENT DEVELOPMENT
- Total calculated
- $168,411
- From this org
- $150,173
- From related orgs
- $0
- Other
- $18,238
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $144,322
- Bonus
- $5,000
- Other
- $851
- Deferred
- $10,095
- Nontaxable benefits
- $8,143
- Filer's total
- $168,411
-
Dr Scott AnsonDR SCOTT ANSON
PROFESSOR, MECHANICAL ENGINEER
- Total calculated
- $157,008
- From this org
- $142,852
- From related orgs
- $0
- Other
- $14,156
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $142,544
- Bonus
- $0
- Other
- $308
- Deferred
- $10,013
- Nontaxable benefits
- $4,143
- Filer's total
- $157,008
-
Dr Matthew GreenDR MATTHEW GREEN
DEAN ENGINEERING & TECHNOLOGY
- Total calculated
- $154,842
- From this org
- $138,629
- From related orgs
- $0
- Other
- $16,213
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $138,416
- Bonus
- $0
- Other
- $213
- Deferred
- $9,963
- Nontaxable benefits
- $6,250
- Filer's total
- $154,842
-
Dr Don EgleDR DON EGLE
VICE PRESIDENT FOR MKTG & COMM
- Total calculated
- $145,687
- From this org
- $134,665
- From related orgs
- $0
- Other
- $11,022
- Hours/week
- 60
-
Kathleen MaysKATHLEEN MAYS
DEAN OF THE SCHOOL OF BUSINESS
- Total calculated
- $144,028
- From this org
- $135,147
- From related orgs
- $0
- Other
- $8,881
- Hours/week
- 60
-
Phil BurksPHIL BURKS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Tom BurtTOM BURT
SECRETARY - TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Pat BertschePAT BERTSCHE
VICE CHAIR - TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Michele CharlesMICHELE CHARLES
TRUSTEE Start: 11/22
- Total calculated
- $0
- Hours/week
- 3
-
Daniel DifrancescoDANIEL DIFRANCESCO
TRUSTEE Start: 11/22
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Eugene FrostEUGENE FROST
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Roger KiefferROGER KIEFFER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Loren LemanLOREN LEMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Larry MercerLARRY MERCER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Michael MossMICHAEL MOSS
TRUSTEE Start: 11/22
- Total calculated
- $0
- Hours/week
- 3
-
Nikita MumphreyNIKITA MUMPHREY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
James NoltJAMES NOLT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Cy OatridgeCY OATRIDGE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Rogers Pope JrROGERS POPE JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
John RossJOHN ROSS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
James SchrederJAMES SCHREDER
TREASURER - TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Michael SchuttMICHAEL SCHUTT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
John SolheimJOHN SOLHEIM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Wayne SteegeWAYNE STEEGE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Don StephensDON STEPHENS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Merle StoltzfusMERLE STOLTZFUS
CHAIRMAN - TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Kimberly FishKIMBERLY FISH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Doug DouglasDOUG DOUGLAS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
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 · First-class or charter travel
- 1a · Housing allowance or residence for personal use
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Written employment contract
- 3 · Compensation survey or study
- 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
- BENEFITS PROVIDED BY THE ORGANIZATION: HOUSING FOR THE PRESIDENT IS PAID FOR BY THE UNIVERSITY. THE EXCLUSION RULES UNDER SECT. 119 ARE NOT MET, AND AS A RESULT, THE ALLOWANCE IS TAXABLE COMPENSATION TO THE PRESIDENT AND IS PROPERLY RECORDED AS SUCH ON HIS W-2. THE UNIVERSITY PROVIDES A COUNTRY CLUB MEMBERSHIP IN THE PRESIDENT'S NAME THAT IS USED FOR BUSINESS RELATED ENTERTAINING. ON OCCASION, THE UNIVERSITY HAS PURCHASED FIRST CLASS COMMERCIAL AIRFARE FOR THE PRESIDENT WHEN HIS SCHEDULE AND/OR SEAT AVAILABILITY REQUIRE IT. DR. DALE LUNSFORD, CHANCELLOR, ALSO RECEIVED A HOUSING ALLOWANCE AND AIRFARE IN TAX YEAR 2022.
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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
THE LETOURNEAU UNIVERSITY FOUNDATION
501(c)(3) · SUPPORT LETU · TX · controlled entity
Directly controlled by LETU
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER TRUSTS (9)
TRUSTS · CHARITABLE TR · TX
Directly controlled by NA
-
RG RESEARCH AND DEVELOPMENT INC
C-CORPORATION · SUPPORT · TX · 100% owned · share of income -$42,716 · share of assets $57,284 · controlled entity
Directly controlled by LETU
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202430929349300218
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