Civic Intelligence

The Letourneau University Foundation

EIN 83-2155629 • 501(c)3 • Longview, TX

Profile

Utilizing a professional, biblically informed approach we serve as a guide to carefully designed estate and legacy plans that in their conveyed charitable intent expressly benefit letourneau university in its work of raising up men and women who see their life's work as a holy calling, making mission fields of every workplace in every nation.

2100 South Mobberly AveLongview, TX 75602

n/A

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.08x

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

501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

2.81x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

83rd percentile

33%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

70th percentile

12%

Faster asset growth than 70% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-71%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$65,798,391

Up $31,712,098 (+93%) from 2023

Liabilities

Up

$23,383,993

Up $20,579,176 (+734%) from 2023

Net Assets

Up

$42,414,398

Up $11,132,922 (+36%) from 2023

Revenue

Up

$2,402,098

Up $1,403,489 (+141%) from 2023

Expenses

Up

$978,804

Up $311,570 (+47%) from 2023

Net Income

Up

$1,423,294

Up $1,091,919 (+330%) from 2023

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2019: $20,645,104Liabilities 2019: $0Net Assets 2019: $20,645,1042019Assets 2020: $21,879,104Liabilities 2020: $17,551Net Assets 2020: $21,861,5532020Assets 2021: $29,394,281Liabilities 2021: $722,866Net Assets 2021: $28,671,4152021Assets 2022: $30,343,194Liabilities 2022: $1,787,842Net Assets 2022: $28,555,3522022Assets 2023: $34,086,293Liabilities 2023: $2,804,817Net Assets 2023: $31,281,4762023Assets 2024: $65,798,391Liabilities 2024: $23,383,993Net Assets 2024: $42,414,3982024

Highlighted filing

2024

Assets$65,798,391
Liabilities$23,383,993
Net Assets$42,414,398

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2019: $177,489Expenses 2019: $71,946Net Income 2019: $105,5432019Revenue 2020: $581,778Expenses 2020: $153,409Net Income 2020: $428,3692020Revenue 2021: $1,429,688Expenses 2021: $177,227Net Income 2021: $1,252,4612021Revenue 2022: $3,412,001Expenses 2022: $484,916Net Income 2022: $2,927,0852022Revenue 2023: $998,609Expenses 2023: $667,234Net Income 2023: $331,3752023Revenue 2024: $2,402,098Expenses 2024: $978,804Net Income 2024: $1,423,2942024

Highlighted filing

2024

Revenue$2,402,098
Expenses$978,804
Net Income$1,423,294

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 8, 2025
Return Version
2023v6.0
Gross Receipts
$4,698,775
Mission and Program Overview

Mission

Utilizing a professional, biblically informed approach we serve as a guide to carefully designed estate and legacy plans that in their conveyed charitable intent expressly benefit letourneau university in its work of raising up men and women who see their life's work as a holy calling, making mission fields of every workplace in every nation.

To support letourneau university

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$33,936,036$65,584,057▲ $31,648,021
Cash and Non-Interest-Bearing Accounts$26,239$124,325▲ $98,086
Accounts Receivable$80,088$76,975▼ $3,113
Land, Buildings, and Equipment, Net$43,930$13,034▼ $30,896
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$34,086,293$65,798,391▲ $31,712,098
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$21,804$22,666,979▲ $22,645,175
Other Liabilities$2,783,013$717,014▼ $2,065,999
Total Liabilities$2,804,817$23,383,993▲ $20,579,176
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,019,655$35,422,294▲ $10,402,639
Net Assets With Donor Restrictions$6,261,821$6,992,104▲ $730,283
Total Net Assets Fund Balance$31,281,476$42,414,398▲ $11,132,922
Total Liabilities and Net Assets / Fund Balance$34,086,293$65,798,391▲ $31,712,098

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$13,034$26,068$39,102

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$27,831,294$6,984,113▲ $3,923,178$513,120$37,458,704
2022$25,621,543$1,715,155▲ $1,953,610$508,935$27,831,294
2021$28,532,915$2,216,191▼ $4,220,285$13,614$25,621,543
2020$22,868,311$605,168▲ $5,936,087$38,206$28,532,915
2019$22,054,828$682,371▲ $611,314$92,653$22,868,311
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas E BevanPresident (CEO)FT$147,500$24,871$172,371

Board Members and Trustees

NameTitle
Daniel DifrancescoBoard Chairman
Dr Steven MasonPresident, Letourneau Univ.
Bob WalkerBoard Vice Chairman
John RossDirector
Kenneth MooreDirector
Larry MercerDirector
Roger KiefferDirector
Jim MauldinSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,740
Program Service Revenue
$301,178
Investment Income
$2,095,879
Other Revenue
$301
All Other Contributions
$4,740
Change in Net Assets
$1,423,294
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$636,707
Salaries, Compensation, and Employee Benefits$292,097
Grants and Similar Amounts Paid$50,000
Total Fundraising Expense$11,093
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$439,736-$439,736
Current Officers, Directors, Trustees, and Key Employees-$172,371-$172,371
Fees for Services Other$0$128,990$0$128,990
Other Salaries and Wages-$85,583-$85,583
Grants to Domestic Orgs$50,000--$50,000
Payroll Taxes-$17,620-$17,620
Other Employee Benefits-$16,523-$16,523
Office Expenses-$15,454-$15,454
Fees for Services Legal-$15,051-$15,051
Travel--$11,093$11,093
Depreciation Depletion-$10,256-$10,256
Occupancy-$9,270-$9,270
Fees for Services Accounting-$3,800-$3,800
Advertising-$3,057-$3,057
Total Functional Expenses$50,000$917,711$11,093$978,804
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
LeTourneau UniversityLongview, TX501(c)(3)General Funding$50,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities and Trusts Payable$717,014
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

A majority of the board members are appointed by letourneau university, acting through its trustees, or a committee of persons delegated such authority by the trustees.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

Letourneau university trustee representation on the foundation board of directors serves as the university's voice on all governance decisions of the foundation.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The form 990 is prepared by the organization's controller and their independent accounting firm. The form is then reviewed by management. A copy is provided to the full board before submission to the irs.

Form 990, Part VI, Line 12C Conflict of interest policy

A conflict of interest questionnaire is completed annually by all board members as well as executive staff employees and all employees with significant purchasing authority. All written notices of disclosures are reviewed by management. All disclosures of real or apparent conflict of interest shall be communicated to the board of directors. An employee who believes that he or she or a member of his or her family might have a real or apparent conflict of interest must abstain from: participating in discussions or deliberations with respect to the subject of the conflict, using his or her personal influence to affect deliberations, making motions, voting, executing agreements, or taking similar actions on behalf of the organizations where the conflict of interest might pertain.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The president's (ceo) compensation is determined in collaboration between the governing bodies of the foundation and letourneau university. The governing bodies use comparability data and amounts are deliberated and recorded in the minutes.

Form 990, Part VI, Line 19 Required documents available to the public

The letourneau university foundation keeps its governing documents, conflicts of interest policy, and financial statements on site and are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Letourneau University Foundation
EIN
83-2155629
Phone
9032334110
Address
2100 South Mobberly Ave, Longview, TX 75602

Signing Officer

Name
Thomas E Bevan
Title
CEO
Phone
9032334110
Signed
2025-05-08
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
7
Employees
3
Volunteers
0

Preparer

Firm
Forvis Mazars LLP
Address
14221 Dallas Parkway Suite 400, Dallas, TX 75254
Preparer
Jeanette Verrelli
Phone
9727028262
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

Other Fees - Total Expense: 128990, Program Service Expense: , Management and General Expenses: 128990, Fundraising Expenses: ;

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Change in Split Interest Agreement - -22816; Transfer to University - 6325993; Change in Annuity - 3224;

Financial Statement Notes

Schedule D, Part X, Line 2 ASC 740 Footnote

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part V, Line 4 Intended uses of endowment funds

The endowment funds are held exclusively for the benefit of letourneau university.

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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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IRS990/MissionDesc0UTILIZING A PROFESSIONAL, BIBLICALLY INFORMED APPROACH WE SERVE AS A GUIDE TO CAREFULLY DESIGNED ESTATE AND LEGACY PLANS THAT IN THEIR CONVEYED CHARITABLE INTENT EXPRESSLY BENEFIT LETOURNEAU UNIVERSITY IN ITS WORK OF RAISING UP MEN AND WOMEN WHO SEE THEIR LIFE'S WORK AS A HOLY CALLING, MAKING MISSION FIELDS OF EVERY WORKPLACE IN EVERY NATION.
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0LETOURNEAU UNIVERSITY
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IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.0201
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IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.823
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ENDOWMENT FUNDS ARE HELD EXCLUSIVELY FOR THE BENEFIT OF LETOURNEAU UNIVERSITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 ASC 740 Footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part V, Line 4 Intended uses of endowment funds
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IRS990ScheduleD/TotalLiabilityAmt0717014
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0General Funding
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LeTourneau University
IRS990ScheduleI/RecipientTable/RecipientEIN0751081109
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO Box 7001
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Longview
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE LETOURNEAU UNIVERSITY FOUNDATION IS A SUPPORTING ORGANIZATION FOR LETOURNEAU UNIVERSITY, A RELATED 501(C)(3) ORGANIZATION. DUE TO THE NATURE OF THE RELATIONSHIP, NO MONITORING OF FUNDS REQUIRED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds.
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