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← LETOURNEAU UNIVERSITY FOUNDATION

Form 990 for tax year 2024

Filed by LETOURNEAU UNIVERSITY FOUNDATION.

Totals

Total revenue
$2,967,995
Total expenses
$424,451
Contributions and grants received
$4,740
Grants paid
$5,000
Program service revenue
$408,523
Investment income
$2,484,109
Other revenue
$70,623
Total assets, end of year
$59,295,994
Total liabilities, end of year
$12,376,671
Net assets or fund balances, end of year
$46,919,323
Program services expenses (Part IX)
$364,117
Management and general expenses
$60,334
Fundraising expenses
$0
Program service expenses (Part III)
$364,117

Program services were 85.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Bob Walker

    Board Vice Chairman

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Dan DiFrancesco

    Board Chairman

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Jim Mauldin

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Thomas E Bevan

    President

    Total calculated
    $151,188
    From this org
    $151,188
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $151,188
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $151,188

  • Larry Mercer

    Director

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Ray Baumer

    Director

    Total calculated
    $0
    Hours/week
    1

  • Steven D Mason

    President (CEO)

    Total calculated
    $423,066
    From this org
    $0
    From related orgs
    $389,402
    Other
    $33,664
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $314,566 related
    Bonus
    $0 + $12,336 related
    Other
    $0 + $62,500 related
    Deferred
    $0 + $23,000 related
    Nontaxable benefits
    $0 + $10,664 related
    Filer's total
    $0 + $423,066 related

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

  • 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

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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 April 2026
IRS schema version
2024v5.1
Source object
202641049349301519

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