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Nonprofiteer
← LAMAR UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by LAMAR UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$14,317,021
Total expenses
$6,617,644
Contributions and grants received
$8,886,444
Grants paid
$2,912,710
Program service revenue
$0
Investment income
$5,297,906
Other revenue
$132,671
Total assets, end of year
$151,399,653
Total liabilities, end of year
$4,365,137
Net assets or fund balances, end of year
$147,034,516
Program services expenses (Part IX)
$5,702,216
Management and general expenses
$605,600
Fundraising expenses
$309,828
Program service expenses (Part III)
$5,702,216

Program services were 86.2% 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.

  • 1f · All other contributions, gifts and grants

    $8,886,444

  • 1g · Noncash contributions included above

    $5,237,007

  • 3 · Investment income

    total $340,986 · excluded $340,986

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

    total $0

  • 5 · Royalties

    total $177,853 · excluded $177,853

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $41,058,962

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

    securities $36,102,042

  • 7c · Gain or loss

    securities $4,956,920

  • 7d · Net gain or loss

    total $4,956,920 · excluded $4,956,920

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Change in value of life insurance

    total -$20,612 · excluded -$20,612

  • 11b · Other revenue: Change in value of oil & gas

    total -$89,345 · excluded -$89,345

  • 11c · Other revenue: Miscellaneous

    total $64,775 · excluded $64,775

  • 11e · Other revenue, total

    -$45,182

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $2,912,710 · program services $2,912,710

  • 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 $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $1,780 · management and general $1,780

  • 11c · Fees: accounting

    total $17,771 · management and general $17,771

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $173,599 · management and general $173,599

  • 11g · Fees: other

    total $148,374 · program services $148,374

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $11,633 · management and general $11,633

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $153,149 · program services $104,588 · management and general $13,730 · fundraising $34,831

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,479 · management and general $2,479

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Personnel

    total $1,064,875 · program services $635,344 · management and general $305,307 · fundraising $124,224

  • 24b · Other expenses: Equipment & supplies

    total $948,003 · program services $912,278 · management and general $35,725

  • 24c · Other expenses: General operational support

    total $376,482 · program services $373,680 · management and general $546 · fundraising $2,256

  • 24d · Other expenses: Community, campus, and alumni

    total $259,061 · program services $257,347 · fundraising $1,714

  • 24e · All other expenses

    total $547,728 · program services $357,895 · management and general $43,030 · fundraising $146,803

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $758,546 · end of year $498,690

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $400,000 · end of year $200,000

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $1,390,124

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

    $34,435

  • 10c · Land, buildings and equipment, net

    beginning of year $1,447,513 · end of year $1,355,689

  • 11 · Investments: publicly traded securities

    beginning of year $99,297,712 · end of year $111,289,521

  • 12 · Investments: other securities

    beginning of year $25,360,534 · end of year $37,050,232

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $1,026,133 · end of year $1,005,521

  • 25 · Other liabilities

    beginning of year $1,548,480 · end of year $4,365,137

  • 27 · Net assets without donor restrictions

    beginning of year $3,909,653 · end of year $4,157,607

  • 28 · Net assets with donor restrictions

    beginning of year $122,832,305 · end of year $142,876,909

Mission and programs · 2023

Mission

The Foundation supports the development and promotion of Lamar University, its students, faculty and staff. The Lamar University Foundation supports and enhances Lamar University by encouraging the commitment of personal and financial resources to further the education of Lamar University students. The Foundation promotes the stewardship of donors to enhance the quality of services provided by the University to student, faculty, alumni and friends. The Lamar University Foundation manages the investments, serves as trustee of the endowment funds and other private assets contributed for the benefit of Lamar University.

  • Scholarships provided to Lamar University students as specified by donor restrictions

    Expenses $2,910,954 · Grants $2,910,954

  • Other support provided to Lamar University students and student organizations as specified by donor restrictions

    Expenses $1,444,589

  • Support provided to Lamar University faculty as specified by donor restrictions

    Expenses $850,277 · Grants $1,756

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Juan J Zabala

    CEO

    Total calculated
    $235,106
    From this org
    $0
    From related orgs
    $196,898
    Other
    $38,208
    Hours/week
    6

    Schedule J breakdown matched by us

    Base
    not reported + $196,898 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $18,760 related
    Nontaxable benefits
    not reported + $19,448 related
    Filer's total
    not reported + $235,106 related

  • Karen Nichols

    COO

    Total calculated
    $82,994
    From this org
    $0
    From related orgs
    $75,497
    Other
    $7,497
    Hours/week
    34

  • Fred Vernon II

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Elaine Henry

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • J Pat Parsons

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jared Boudreaux

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Michael L Burrow

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Yolanda Conyers

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Rena Clark

    Secy/Com Chair

    Total calculated
    $0
    Hours/week
    3

  • Jerry Dearing

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Vernon Durden

    Trste/Com Chair

    Total calculated
    $0
    Hours/week
    3

  • Phillip E Fuller

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Terry Garth

    Vice Chairman

    Total calculated
    $0
    Hours/week
    3

  • Ann Die Hasselmo

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Gisela Houseman

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mike Jenkins

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Carmen Jordan

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Clayton Lau

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Catherine Long

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Becky Mason

    Chairman

    Total calculated
    $0
    Hours/week
    3

  • Larry Norwood

    Trste/Com Chair

    Total calculated
    $0
    Hours/week
    3

  • Ellen Rienstra

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lori Ryerkerk

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Don Shaver

    Past Chairman

    Total calculated
    $0
    Hours/week
    3

  • Mike Turner

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Joe Vernon

    Treas/Com Chair

    Total calculated
    $0
    Hours/week
    3

  • Herman Wilson Jr

    Trustee

    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

None.

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

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

Provenance

Return type
form_990
Tax year
2023
Filed
26 February 2025
IRS schema version
2023v6.0
Source object
202530579349301318

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