Civic Intelligence

Lamar Institute of Technology

EIN 76-0588576 • 501(c)3 • Beaumont, TX

Profile

Management of the endowment funds which have been established to provide scholarships for students at lamar institute of technology. Serve as an advisory board for the institute, a sounding board and board of review. Listen to the lamar institute of technology's plans and provide them with suggestions on how to improve the training they provide in this region

PO Box 10085Beaumont, TX 77710

www.lit.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.04x

Higher debt load relative to assets than 33% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.59x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

8th percentile

-36%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

64th percentile

9.1%

Faster asset growth than 64% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-15%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,378,578

Up $696,517 (+9.1%) from 2023

Liabilities

Up

$325,640

Up $45,581 (+16%) from 2023

Net Assets

Up

$8,052,938

Up $650,936 (+8.8%) from 2023

Revenue

Down

$548,362

Down $95,714 (-15%) from 2023

Expenses

Up

$746,571

Up $320,060 (+75%) from 2023

Net Income

Down

-$198,209

Down $415,774 (-191%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $1,650,360Liabilities 2011: $0Net Assets 2011: $1,650,3602011Assets 2012: $2,056,680Liabilities 2012: $0Net Assets 2012: $2,056,6802012Assets 2013: $2,591,052Liabilities 2013: $66,525Net Assets 2013: $2,524,5272013Assets 2014: $3,345,078Liabilities 2014: $43,799Net Assets 2014: $3,301,2792014Assets 2015: $3,576,976Liabilities 2015: $29,221Net Assets 2015: $3,547,7552015Assets 2016: $3,848,986Liabilities 2016: $9,400Net Assets 2016: $3,839,5862016Assets 2017: $4,341,005Liabilities 2017: $4,959Net Assets 2017: $4,336,0462017Assets 2018: $5,009,657Liabilities 2018: $1,316Net Assets 2018: $5,008,3412018Assets 2019: $5,377,052Liabilities 2019: $116,290Net Assets 2019: $5,260,7622019Assets 2020: $6,772,299Liabilities 2020: $54,089Net Assets 2020: $6,718,2102020Assets 2021: $7,520,995Liabilities 2021: $51,782Net Assets 2021: $7,469,2132021Assets 2022: $6,918,633Liabilities 2022: $52,281Net Assets 2022: $6,866,3522022Assets 2023: $7,682,061Liabilities 2023: $280,059Net Assets 2023: $7,402,0022023Assets 2024: $8,378,578Liabilities 2024: $325,640Net Assets 2024: $8,052,9382024

Highlighted filing

2024

Assets$8,378,578
Liabilities$325,640
Net Assets$8,052,938

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $77,5272011Revenue 2012: $437,458Expenses 2012: $101,391Net Income 2012: $336,0672012Expenses 2013: $120,5982013Revenue 2014: $669,017Expenses 2014: $127,662Net Income 2014: $541,3552014Revenue 2015: $708,100Expenses 2015: $183,299Net Income 2015: $524,8012015Revenue 2016: $360,212Expenses 2016: $174,773Net Income 2016: $185,4392016Revenue 2017: $459,178Expenses 2017: $208,503Net Income 2017: $250,6752017Revenue 2018: $691,631Expenses 2018: $269,829Net Income 2018: $421,8022018Revenue 2019: $714,658Expenses 2019: $405,197Net Income 2019: $309,4612019Revenue 2020: $1,287,580Expenses 2020: $434,173Net Income 2020: $853,4072020Revenue 2021: $860,968Expenses 2021: $669,574Net Income 2021: $191,3942021Revenue 2022: $2,251,016Expenses 2022: $321,395Net Income 2022: $1,929,6212022Revenue 2023: $644,076Expenses 2023: $426,511Net Income 2023: $217,5652023Revenue 2024: $548,362Expenses 2024: $746,571Net Income 2024: -$198,2092024

Highlighted filing

2024

Revenue$548,362
Expenses$746,571
Net Income-$198,209

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.38$0.33$8.05$0.55$0.75$0.20
2023Detailed filing. Detailed filing data is available for this year.$7.68$0.28$7.40$0.64$0.43$0.22
2022Detailed filing. Detailed filing data is available for this year.$6.92$0.05$6.87$2.25$0.32$1.93
2021Detailed filing. Detailed filing data is available for this year.$7.52$0.05$7.47$0.86$0.67$0.19
2020Detailed filing. Detailed filing data is available for this year.$6.77$0.05$6.72$1.29$0.43$0.85
2019Detailed filing. Detailed filing data is available for this year.$5.38$0.12$5.26$0.71$0.41$0.31
2018Detailed filing. Detailed filing data is available for this year.$5.01$0.00$5.01$0.69$0.27$0.42
2017Detailed filing. Detailed filing data is available for this year.$4.34$0.00$4.34$0.46$0.21$0.25
2016Detailed filing. Detailed filing data is available for this year.$3.85$0.01$3.84$0.36$0.17$0.19
2015Detailed filing. Detailed filing data is available for this year.$3.58$0.03$3.55$0.71$0.18$0.52
2014Summary only. Only limited summary data is available for this year.$3.35$0.04$3.30$0.67$0.13$0.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$0.07$2.52$0.12
2012Summary only. Only limited summary data is available for this year.$2.06$0.00$2.06$0.44$0.10$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.65$0.00$1.65$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2023 to Aug 31, 2024
Signed
Jul 7, 2025
Return Version
2023v6.0
Gross Receipts
$1,932,340
Mission and Program Overview

Mission

Management of the endowment funds which have been established to provide scholarships for students at lamar institute of technology. Serve as an advisory board for the institute, a sounding board and board of review. Listen to the lamar institute of technology's plans and provide them with suggestions on how to improve the training they provide in this region

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,394,277$8,148,084▲ $753,807
Cash and Non-Interest-Bearing Accounts$237,602$180,312▼ $57,290
Prepaid Expenses and Deferred Charges$50,182$50,182→ $0
Total Assets$7,682,061$8,378,578▲ $696,517
Liabilities
Accounts Payable and Accrued Expenses$229,877$325,640▲ $95,763
Other Liabilities$50,182--
Total Liabilities$280,059$325,640▲ $45,581
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,347,524$7,977,652▲ $630,128
Net Assets Without Donor Restrictions$54,478$75,286▲ $20,808
Total Net Assets Fund Balance$7,402,002$8,052,938▲ $650,936
Total Liabilities and Net Assets / Fund Balance$7,682,061$8,378,578▲ $696,517

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$138,114$138,114

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$7,469,213----
2019$5,260,762$1,287,134▲ $696,466$138,878$6,718,210
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rod CarrollAudit Chairm
Jerry VandervoortPresident
Anthony ToupsDirector
Eddie ArnoldDirector
Gisela HousemanDirector
J PeacockDirector
Jake TortoriceDirector
Jean McfaddinDirector
Jerry StumboDirector
Paul BlackburnDirector
Raymond PolkDirector
Ryan VickDirector
Herschel Stagner JrDirector CHA
Zach JohnsonDevelopment
Krista L HunterExecutive Di
Gary ParsleyInvestment C
Judy HoneycuttMember
Eva GeerSecretary
Mary Ann ReidTreasurer
David ThornhillVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$358,825
Program Service Revenue
$0
Investment Income
$356,336
Other Revenue
$-166,799
All Other Contributions
$86,000
Change in Net Assets
$-198,209
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$698,401
Other Expenses$48,170
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$698,401--$698,401
Fees for Services Accounting-$13,463-$13,463
All Other Expenses-$2,244-$2,244
Other Expenses-$1,182-$1,182
Office Expenses-$510-$510
Conferences and Meetings-$398-$398
Total Functional Expenses$698,401$48,170$0$746,571
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Lamar InstituteBeaumont, TXGovScholarships$698,401
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$166,799
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Shoot-out$126,500-$112,533-
Charity Golf to$78,500-$10,021-
Total Events$272,825-$166,799$-166,799
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 9

Jerry vandervoort 3260 eastex freeway beaumont, tx 77703 david thornhill 116 sherwood trail silsbee, tx 777656 mary ann reid 350 pine street beaumnt, tx 77701 eva geer 1220 blalock rd 155 beaumont, tx 77701 rod carroll 695 easr railroad vidor, tx 77662 herschel stagner, jr. 801 w division street orange, tx 77630 gary parsley p.o. Box 1547 port arthur, tx 77641 eddie arnold 4655 ashdown beaumont, tx 77706 paul blackburn p.o. Box 2951 beaumont, tx 77704 judy honeycutt 985 heather lane beaumont, tx 77706 gisela houseman 12921 ih 10 orange, tx 77630 jean mcfaddin 2125 hebert road beaumont, tx 77705 j. Peacock p.o. Box 1751 beaumont, tx 77701 raymond polk 6050 navajo trail beaumont, tx 777708 jerry stumbo p.o. Box 909 port arthur, tx 77641 jake tortorice 2596 calder ave beaumont, tx 77702 anthony toups 1000 1-10 beaumont, tx 77702 ryan vick 1795 burt street beaumont, tx 77704

Form 990, Page 6, Part VI, Line 11B

A copy of form 990 is provided to the governing board and reviewed by them.

Form 990, Page 6, Part VI, Line 12C

The board members are required to sign a statement of board member responsibilities and expections for lamar institute of technology foundation, inc. See sample below: the lamar institute of technology foundation, inc. Was incorporated in june 1998 for the purpose of accepting, holding, and managing significant private financial gifts designated to support the programs, special needs, and other enhancements of the lamar institute of technology. In conformance with that purpose, individuals are elected to serve voluntarily as members of the foundation's board of directors. Directorship is a generous and selfless act of public service requiring commitment, engagement, and dedication to the mission of lamar institute of technology. Consistent with the mission of the foundation, members of the lit foundation board of directors are expected to exercise due diligence to the board by devoting: time become familiar with key aspects of the institute and foundation including but not limited to its mission, governance, finances, and strategic plans. Become vigorous advocates for the mission of the foundation; have a willingness to improve the quality of the institute through voluntary participation at a level commensurate with membership on an active board. Maintain some presence at lit and foundation functions and events (e.g. Commencement) that are integral parts of the life of the institute. Become vigorous advocates for the mission of the foundation and seek qualified individuals to join and assist the board in its mission. Devote the necessary time, attention, and preparation to function effectively as an active and effective board. Serve on one or more board committees; attend new trustee orientation, committee meetings, board meetings, and retreats as necessary. Talent be alert for opportunities to promote the purpose, goals, and objectives of the foundation. Capitalize on those opportunities especially where the potential exists for support of the institute and its programs. Participate in the foundation's efforts to identify, cultivate, and solicit potential donors and in providing stewardship for gifts received. Treasure commit to personal financial support of the institute through the foundation at a level that will inspire others to emulate that support. Work with foundation staff in securing financial support from others. Ethics exemplify the highest standards of ethical behavior acting strictly in accordance with federal, state, and local laws. Comply with all regulations and policies applicable to trustees of public colleges and universities in texas. Comply with all approved lit policies and procedures, including conflict of interest policy. Maintain the confidentiality of matters not public under the texas open meetings act.

Form 990, Page 6, Part VI, Line 19

Upon request at foundation office at lamar institute of technology

Filing and Contact Details

Filer

Filer Name
Lamar Institute of Technology
EIN
76-0588576
Phone
4098392956
Address
PO BOX 10085, BEAUMONT, TX 77710

Signing Officer

Name
Krista L Hunter
Title
Executive Director
Phone
4098392956
Signed
2025-07-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Krista L Hunter
Formed
1998
Legal Domicile
TX
Voting Board Members
36
Independent Board Members
36
Employees
0

Preparer

Firm
Theobald Demahy & Co Pc
Address
2522 CALDER ST, BEAUMONT, TX 77702-1930
Preparer
Rj Demahy
Phone
4098337556
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Management of the endowment funds which have been established to provide scholarships for students at lamar institute of technology. Serve as an advisory board for the institute, a sounding board and board of review. Listen to the lamar institute of technology's plans and provide them with suggestions on how to improve the training they provide in this region

Form 990, Page 5, Part V, Line 3B

No income subject to unrelated business inxome tax

Form 990, Part XI, Line 9

Prior year accrued schlarships 0

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine2Txt0OF TECHNOLOGY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF THE ENDOWMENT FUNDS WHICH HAVE BEEN ESTABLISHED TO PROVIDE SCHOLARSHIPS FOR STUDENTS AT LAMAR INSTITUTE OF TECHNOLOGY. SERVE AS AN ADVISORY BOARD FOR THE INSTITUTE, A SOUNDING BOARD AND BOARD OF REVIEW. LISTEN TO THE LAMAR INSTITUTE OF TECHNOLOGY'S PLANS AND PROVIDE THEM WITH SUGGESTIONS ON HOW TO IMPROVE THE TRAINING THEY PROVIDE IN THIS REGION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO INCOME SUBJECT TO UNRELATED BUSINESS INXOME TAX
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2JERRY VANDERVOORT 3260 EASTEX FREEWAY BEAUMONT, TX 77703 DAVID THORNHILL 116 SHERWOOD TRAIL SILSBEE, TX 777656 MARY ANN REID 350 PINE STREET BEAUMNT, TX 77701 EVA GEER 1220 BLALOCK RD 155 BEAUMONT, TX 77701 ROD CARROLL 695 EASR RAILROAD VIDOR, TX 77662 HERSCHEL STAGNER, JR. 801 W DIVISION STREET ORANGE, TX 77630 GARY PARSLEY P.O. BOX 1547 PORT ARTHUR, TX 77641 EDDIE ARNOLD 4655 ASHDOWN BEAUMONT, TX 77706 PAUL BLACKBURN P.O. BOX 2951 BEAUMONT, TX 77704 JUDY HONEYCUTT 985 HEATHER LANE BEAUMONT, TX 77706 GISELA HOUSEMAN 12921 IH 10 ORANGE, TX 77630 JEAN MCFADDIN 2125 HEBERT ROAD BEAUMONT, TX 77705 J. PEACOCK P.O. BOX 1751 BEAUMONT, TX 77701 RAYMOND POLK 6050 NAVAJO TRAIL BEAUMONT, TX 777708 JERRY STUMBO P.O. BOX 909 PORT ARTHUR, TX 77641 JAKE TORTORICE 2596 CALDER AVE BEAUMONT, TX 77702 ANTHONY TOUPS 1000 1-10 BEAUMONT, TX 77702 RYAN VICK 1795 BURT STREET BEAUMONT, TX 77704
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF FORM 990 IS PROVIDED TO THE GOVERNING BOARD AND REVIEWED BY THEM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD MEMBERS ARE REQUIRED TO SIGN A STATEMENT OF BOARD MEMBER RESPONSIBILITIES AND EXPECTIONS FOR LAMAR INSTITUTE OF TECHNOLOGY FOUNDATION, INC. SEE SAMPLE BELOW: THE LAMAR INSTITUTE OF TECHNOLOGY FOUNDATION, INC. WAS INCORPORATED IN JUNE 1998 FOR THE PURPOSE OF ACCEPTING, HOLDING, AND MANAGING SIGNIFICANT PRIVATE FINANCIAL GIFTS DESIGNATED TO SUPPORT THE PROGRAMS, SPECIAL NEEDS, AND OTHER ENHANCEMENTS OF THE LAMAR INSTITUTE OF TECHNOLOGY. IN CONFORMANCE WITH THAT PURPOSE, INDIVIDUALS ARE ELECTED TO SERVE VOLUNTARILY AS MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS. DIRECTORSHIP IS A GENEROUS AND SELFLESS ACT OF PUBLIC SERVICE REQUIRING COMMITMENT, ENGAGEMENT, AND DEDICATION TO THE MISSION OF LAMAR INSTITUTE OF TECHNOLOGY. CONSISTENT WITH THE MISSION OF THE FOUNDATION, MEMBERS OF THE LIT FOUNDATION BOARD OF DIRECTORS ARE EXPECTED TO EXERCISE DUE DILIGENCE TO THE BOARD BY DEVOTING: TIME BECOME FAMILIAR WITH KEY ASPECTS OF THE INSTITUTE AND FOUNDATION INCLUDING BUT NOT LIMITED TO ITS MISSION, GOVERNANCE, FINANCES, AND STRATEGIC PLANS. BECOME VIGOROUS ADVOCATES FOR THE MISSION OF THE FOUNDATION; HAVE A WILLINGNESS TO IMPROVE THE QUALITY OF THE INSTITUTE THROUGH VOLUNTARY PARTICIPATION AT A LEVEL COMMENSURATE WITH MEMBERSHIP ON AN ACTIVE BOARD. MAINTAIN SOME PRESENCE AT LIT AND FOUNDATION FUNCTIONS AND EVENTS (E.G. COMMENCEMENT) THAT ARE INTEGRAL PARTS OF THE LIFE OF THE INSTITUTE. BECOME VIGOROUS ADVOCATES FOR THE MISSION OF THE FOUNDATION AND SEEK QUALIFIED INDIVIDUALS TO JOIN AND ASSIST THE BOARD IN ITS MISSION. DEVOTE THE NECESSARY TIME, ATTENTION, AND PREPARATION TO FUNCTION EFFECTIVELY AS AN ACTIVE AND EFFECTIVE BOARD. SERVE ON ONE OR MORE BOARD COMMITTEES; ATTEND NEW TRUSTEE ORIENTATION, COMMITTEE MEETINGS, BOARD MEETINGS, AND RETREATS AS NECESSARY. TALENT BE ALERT FOR OPPORTUNITIES TO PROMOTE THE PURPOSE, GOALS, AND OBJECTIVES OF THE FOUNDATION. CAPITALIZE ON THOSE OPPORTUNITIES ESPECIALLY WHERE THE POTENTIAL EXISTS FOR SUPPORT OF THE INSTITUTE AND ITS PROGRAMS. PARTICIPATE IN THE FOUNDATION'S EFFORTS TO IDENTIFY, CULTIVATE, AND SOLICIT POTENTIAL DONORS AND IN PROVIDING STEWARDSHIP FOR GIFTS RECEIVED. TREASURE COMMIT TO PERSONAL FINANCIAL SUPPORT OF THE INSTITUTE THROUGH THE FOUNDATION AT A LEVEL THAT WILL INSPIRE OTHERS TO EMULATE THAT SUPPORT. WORK WITH FOUNDATION STAFF IN SECURING FINANCIAL SUPPORT FROM OTHERS. ETHICS EXEMPLIFY THE HIGHEST STANDARDS OF ETHICAL BEHAVIOR ACTING STRICTLY IN ACCORDANCE WITH FEDERAL, STATE, AND LOCAL LAWS. COMPLY WITH ALL REGULATIONS AND POLICIES APPLICABLE TO TRUSTEES OF PUBLIC COLLEGES AND UNIVERSITIES IN TEXAS. COMPLY WITH ALL APPROVED LIT POLICIES AND PROCEDURES, INCLUDING CONFLICT OF INTEREST POLICY. MAINTAIN THE CONFIDENTIALITY OF MATTERS NOT PUBLIC UNDER THE TEXAS OPEN MEETINGS ACT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST AT FOUNDATION OFFICE AT LAMAR INSTITUTE OF TECHNOLOGY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PRIOR YEAR ACCRUED SCHLARSHIPS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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