2024-04-01T09:32:55-05:00 2023-06-30 FORVIS LLP 14241 DALLAS PARKWAY SUITE 1100 DALLAS TX 75254 990 2022-07-01 751081109 Letourneau University % MICHAEL HOOD LETO 9032334110 PO Box 7001 Longview TX 756077001 MICHAEL HOOD VP FINANCE AND ADM 9032334110 2024-05-15 true MICHAEL HOOD 999009999 Jeanette Verrelli P00742631 9727028262 2 2022 2023-04-26 12:10:37Z STEVEN MASON PO BOX 7001 LONGVIEW TX 756077001 79451423 false X WWW.LETU.EDU X 1946 TX LETU IS A PRIVATE, INTERDENOMINATIONAL, EVANGELICAL CHRISTIAN INSTITUTION OF MORE THAN 3,000 STUDENTS CLAIMING EVERY WORKPLACE AND EVERY NATION AS ITS MISSION FIELD. 24 23 1388 250 0 0 13459565 13904363 63899618 64025312 249188 1232566 177253 71705 77785624 79233946 19891021 20446625 0 0 28339385 29853080 109929 117061 1889350 25127048 23305154 73467383 73721920 4318241 5512026 126085853 130732216 14622532 10798182 111463321 119934034 X 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. false false 54916488 18863497 55117656 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. 5060825 1955 4913174 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. 3386270 1581173 3994482 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. 63363583 true true false false false false false true false true true false false true true false false true true false false false false true false false false false true true true false false false false false false false false false false true true false false false true true true false false true 167 0 true 1388 true true true false false false false true true false false false false false false X 24 23 true false false false false false false true true false false false true true true true true true true false X MICHAEL HOOD 9032334110 PO BOX 7001 LONGVIEW TX 756077001 X DR DALE LUNSFORD CHANCELLOR 60.0 0.0 X 426781 0 28600 DR STEVEN MASON PRESIDENT 59.0 1.0 X X 348065 0 23694 DR BEN CALDWELL PROVOST 60.0 0.0 X 168153 0 22474 MIKE HOOD VP FOR FINANCE AND ADMIN 60.0 0.0 X 154776 0 18400 TERRY A ZEITLOW VICE PRESIDENT DEVELOPMENT 60.0 0.0 X 150173 0 18238 DR SCOTT ANSON PROFESSOR, MECHANICAL ENGINEER 60.0 0.0 X 142852 0 14156 DR MATTHEW GREEN DEAN ENGINEERING & TECHNOLOGY 60.0 0.0 X 138629 0 16213 DR DON EGLE VICE PRESIDENT FOR MKTG & COMM 60.0 0.0 X 134665 0 11022 KATHLEEN MAYS DEAN OF THE SCHOOL OF BUSINESS 60.0 0.0 X 135147 0 8881 PHIL BURKS TRUSTEE 3.0 0.0 X 0 0 0 TOM BURT SECRETARY - TRUSTEE 3.0 0.0 X X 0 0 0 PAT BERTSCHE VICE CHAIR - TRUSTEE 3.0 0.0 X X 0 0 0 MICHELE CHARLES TRUSTEE Start: 11/22 3.0 0.0 X 0 0 0 DANIEL DIFRANCESCO TRUSTEE Start: 11/22 3.0 1.0 X 0 0 0 EUGENE FROST TRUSTEE 3.0 0.0 X 0 0 0 ROGER KIEFFER TRUSTEE 3.0 1.0 X 0 0 0 LOREN LEMAN TRUSTEE 3.0 0.0 X 0 0 0 LARRY MERCER TRUSTEE 3.0 1.0 X 0 0 0 MICHAEL MOSS TRUSTEE Start: 11/22 3.0 0.0 X 0 0 0 NIKITA MUMPHREY TRUSTEE 3.0 0.0 X 0 0 0 JAMES NOLT TRUSTEE 3.0 0.0 X 0 0 0 CY OATRIDGE TRUSTEE 3.0 0.0 X 0 0 0 ROGERS POPE JR TRUSTEE 3.0 0.0 X 0 0 0 JOHN ROSS TRUSTEE 3.0 1.0 X 0 0 0 JAMES SCHREDER TREASURER - TRUSTEE 3.0 0.0 X X 0 0 0 MICHAEL SCHUTT TRUSTEE 3.0 0.0 X 0 0 0 JOHN SOLHEIM TRUSTEE 3.0 0.0 X 0 0 0 WAYNE STEEGE TRUSTEE 3.0 0.0 X 0 0 0 DON STEPHENS TRUSTEE 3.0 0.0 X 0 0 0 MERLE STOLTZFUS CHAIRMAN - TRUSTEE 3.0 0.0 X X 0 0 0 KIMBERLY FISH TRUSTEE 3.0 0.0 X 0 0 0 DOUG DOUGLAS TRUSTEE 3.0 0.0 X 0 0 0 1799241 0 161678 30 false true false FORVIS LLP 14241 DALLAS PARKWAY SUITE 1100 DALLAS TX 75254 ACCOUNTING SERVICES 101864 EDWARDS AND CRESON LLC 14620 BRAY ROAD ORLANDO FL 32832 CONSULTING 117061 LEGEND AIRCRAFT MANUFACTURING LP 1810 PIPER LANE SULPHER SPRINGS TX 75482 AIRCRAFT MANUFACTURE 108932 THE 411 AGENCY 929 WHITE PORCH AVE FORNEY TX 75126 PRINTING/MARKETING 134506 ADVANTAGE BUILDING SERVICES PO BOX 5089 LONGVIEW TX 75608 CUSTODIAL SERVICES 153998 7 2323640 11580723 204898 13904363 TUITION AND FEES 611710 54155434 54155434 AUXILIARY 611710 9432857 9432857 MISCELLANEOUS 611710 437021 437021 64025312 1292801 1292801 0 0 220205 148500 71705 0 71705 71705 8742 10505 58472 -1763 -58472 -60235 -60235 0 0 0 0 0 0 0 0 0 0 79233946 64025312 1304271 0 20446625 20446625 0 0 1189162 189081 903990 96091 0 22157729 18618024 2551246 988459 1107247 922070 136223 48954 3703096 3001902 529110 172084 1695846 1369200 248004 78642 0 43636 11019 15539 17078 88200 6500 76900 4800 0 117061 117061 32668 32668 5580885 4534323 948914 97648 513285 142381 365895 5009 2461863 2009278 324588 127997 1075706 1075706 0 4540139 4232698 274498 32943 1239716 1021054 163476 55186 0 163858 98479 55454 9925 157557 148241 9316 0 4880889 4540488 303107 37294 617996 183026 434970 GRANT EXPENDITURES 1888409 1888409 TAXES 20347 785 19383 179 73721920 63363583 8468987 1889350 384474 248630 20192252 11997025 0 5306481 485635 586250 0 0 0 0 1088171 617643 200558 139969 644292 762163 153601946 92721660 59163525 60880286 11536879 19277179 0 0 0 0 0 0 32390067 30916590 126085853 130732216 2628429 3782364 481354 0 2884975 2633481 3819325 2671039 0 0 0 0 0 0 0 0 4808449 1711298 14622532 10798182 X 88936535 87519222 22526786 32414812 111463321 119934034 126085853 130732216 X 5512026 -639487 3598174 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X SEE SUPPLEMENTAL INFORMATION false 25621543 1715155 1953610 950079 508935 27831294 28532915 2216191 -4220285 893664 13614 25621543 22868311 605168 5936087 838445 38206 28532915 22054828 682371 611314 387549 92653 22868311 21706520 469167 -25554 30894 64411 22054828 0.02230 0.86380 0.11390 false true true 554179 554179 113464394 64765416 48698978 17704964 14793471 2911493 21878409 13162773 8715636 60880286 DEPOSITS 13988 CASH VALUE OF LIFE INSURANCE 6900 MINERAL RIGHTS 200 INVESTMENTS HELD IN TRUSTS 3232657 INTEREST IN AWS FDN ASSETS 1717643 INTEREST IN LETU FDN ASSETS 25302867 RIGHT OF USE ASSETS 642335 30916590 0 HELD IN CUSTODY FOR OTHERS 754269 ANNUITY CONTRACTS AND TRUSTS 58548 DEPOSITS 251135 LEASE LIABILITIES 647346 1711298 61330427 -639487 -17379864 -18019351 79349778 32668 -148500 -115832 79233946 54058361 815734 815734 53242627 32668 20446625 20479293 73721920 SCHEDULE D, PART V, LINE 4 INTENDED USE OF ORGANIZATION'S ENDOWMENT FUNDS: THE SOLE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE UNIVERSITY AND ITS MISSION OVER THE LONG TERM. PRESENTLY THE MAJORITY OF THE ENDOWMENT IS FOR GENERAL AND SPECIFIC STUDENT SCHOLARSHIPS, WITH THE REMAINDER IN SUPPORT OF AN ENGINEERING DEPARTMENT CHAIR, BUILDING MAINTENANCE, STUDENT AFFAIRS AND EDUCATIONAL SUPPORT SYSTEMS, INFORMATION TECHNOLOGY SUPPORT AND STUDENT REVOLVING LOANS. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUES PER AUDITED FINANCIALS TO TAX RETURN INSTITUTIONAL FINANCIAL AID $ (20,446,625) CHANGE IN SPLIT INTEREST AGREEMENTS $ 4,990 RELATED ORGANIZATION REVENUES $ 3,061,771 ---------------- TOTAL $ (17,379,864) SCHEDULE D, PART XI, LINE 4B RECONCILIATION OF REVENUES PER AUDITED FINANCIALS TO TAX RETURN: RENTAL EXPENSES $(148,500) SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSES PER AUDITED FINANCIALS TO TAX RETURN: RENTAL EXPENSES $ 148,500 RELATED ORGANIZATION EXPENSES $ 667,234 ------------ TOTAL $ 815,734 SCHEDULE D, PART XII, LINE 4B RECONCILIATION OF EXPENSES PER AUDITED FINANCIALS TO TAX RETURN: INSTITUTIONAL FINANCIAL SUPPORT $ 20,446,625 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 III, LINE 4 DESCRIPTION OF THE ORGANIZATION'S COLLECTIONS: THE SEFER HEBREW SCROLLS WILL BE ON DISPLAY TO EDUCATE ABOUT THE TRANSMISSION, PRESERVATION, AND TRANSLATION OF THE BIBLE. THIS WILL POSITIVELY IMPACT STUDENT'S APPRECIATION FOR GOD'S WORD. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 AVAILABILITY OF POLICY: WE ACTIVELY SEEK STUDENTS OF ALL RACES IN OUR ADMISSIONS EFFORTS. THE UNIVERSITY HAS A NONDISCRIMINATION POLICY AND A RACIALLY DIVERSE STUDENT BODY, FACULTY, AND STAFF. THE POLICY IS CONSISTENTLY COMMUNICATED. SCHEDULE E, PART I, LINE 6A FINANCIAL ASSISTANCE FROM GOVERNMENT AGENCIES: FINANCIAL AID RECEIVED FROM THE FEDERAL GOVERNMENT INCLUDES THE FEDERAL PELL GRANT, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG), FEDERAL STAFFORD LOANS, FEDERAL PARENT LOAN TO UNDERGRADUATE STUDENTS (PLUS), FEDERAL TEACH LOANS, AND FEDERAL COLLEGE WORK STUDY. X X X X X X X true EDWARDS AND CRESON LLC 14620 BARY RD ORLANDO FL 32832 CONSULTING false 0 117061 0 0 117061 0 TX true INSTITUTIONAL SCHOLARSHIPS 1285 20446625 SCHEDULE I, PART I, LINE 2 PROCEDURE FOR MONITORING USE OF FUNDS IN THE U.S.: GRANTS ARE AWARDED BASED ON ESTABLISHED CRITERIA FOR EACH GRANT. THE AVAILABILITY OF FUNDS, THE NEED PER FAFSA, AND THE DATE OF THE APPLICATION ARE ALSO CONSIDERED. THE FUNDS ARE AWARDED AND DISBURSED AFTER ALL ELIGIBILITY CRITERIA HAVE BEEN CONFIRMED. TUITION WAIVERS MUST FOLLOW THE APPROVAL PROCESS OUTLINED IN THE HUMAN RESOURCES HANDBOOK. WAIVERS ARE AWARDED AND DISBURSED BASED ON THE SCHOOL YEAR AND SEMESTER REGISTRATION. X X X true true X X X false false false false false false false false false DR BEN CALDWELL PROVOST 167929 0 0 0 224 0 12022 0 10452 0 190627 0 TERRY A ZEITLOW VICE PRESIDENT DEVELOPMENT 144322 0 5000 0 851 0 10095 0 8143 0 168411 0 DR SCOTT ANSON PROFESSOR, MECHANICAL ENGINEER 142544 0 0 0 308 0 10013 0 4143 0 157008 0 DR MATTHEW GREEN DEAN ENGINEERING & TECHNOLOGY 138416 0 0 0 213 0 9963 0 6250 0 154842 0 DR DALE LUNSFORD CHANCELLOR 321910 0 0 0 104871 0 21350 0 7250 0 455381 0 DR STEVEN MASON PRESIDENT 284398 0 0 0 63667 0 16051 0 7643 0 371759 0 MIKE HOOD VP FOR FINANCE AND ADMIN 153411 0 0 0 1365 0 10376 0 8024 0 173176 0 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. A LONGVIEW EDUCATION FINANCE CORPORATION 300640131 XXXXXXXXX 2010-08-31 15000000 EDUCATIONAL AND RELATED FACILITIES false false false A 12293287 0 15000000 0 0 0 168984 0 0 0 0 0 2014 false false true true A false false false false 0 false false false true A false false false true false false 0 false 0 false true A true SCHEDULE K, PART IV, LINE 2C, COL (A) REBATE COMPUTATION: THE REBATE COMPUTATION WAS PERFORMED IN SEPTEMBER OF 2016. X 1 5140 FMV X 4 168046 FMV X Education Supp & Equip 2 25000 FMV X Thermometer 1 6712 FMV false true false SCHEDULE M, PART I, COLUMN (B) THE AMOUNTS IN SCHEDULE M, PART I, COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS MADE. FORM 990, PART VI, LINE 1A INDEPENDENT VOTING MEMBERS: DR. STEVEN MASON IS A PAID EMPLOYEE OF THE ORGANIZATION. THEREFORE HE IS CONSIDERED NON-INDEPENDENT. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES WITH FAMILY RELATIONSHIP: TRUSTEE LARRY MERCER - FATHER; TRUSTEE MICHELE CHARLES - DAUGHTER FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: THE FORM 990 IS PREPARED BY THE ORGANIZATION'S CONTROLLER AND THEIR INDEPENDENT ACCOUNTING FIRM. THE FORM IS THEN REVIEWED BY THE VICE-PRESIDENT FOR FINANCE AND ADMINISTRATION AND THE PRESIDENT. A COPY OF THE FORM 990, EXCLUDING SCHEDULE B, IS PROVIDED TO THE FULL BOARD BEFORE SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY: A CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED ANNUALLY BY ALL BOARD OF TRUSTEE MEMBERS AS WELL AS EXECUTIVE STAFF EMPLOYEES AND ALL EMPLOYEES WITH SIGNIFICANT PURCHASING AUTHORITY. ALL WRITTEN NOTICES OF DISCLOSURES ARE REVIEWED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. ALL DISCLOSURES OF REAL OR APPARENT CONFLICT OF INTEREST SHALL BE COMMUNICATED TO THE BOARD OF TRUSTEES. 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, SECTION B, LINE 15A PROCESS FOR DETERMINING COMPENSATION OF TOP MANAGEMENT: THE PRESIDENT'S SALARY IS DETERMINED BY THE BOARD OF TRUSTEES. THE PROPOSED SALARY IS COMPARED TO THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA) ADMINISTRATIVE COMPENSATION SURVEY, COUNCIL FOR CHRISTIAN COLLEGES AND UNIVERSITIES (CCCU) AND OTHER RELEVANT SURVEY DATA. DOCUMENTATION OF THE DELIBERATION AND DECISION IS RECORDED IN THE MINUTES FOR THE EXECUTIVE SESSION OF THE BOARD OF TRUSTEES ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15B PROCESS FOR DETERMINING COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES: THE VP FOR FINANCE AND ADMINISTRATION AND PROVOST SALARY ARE DETERMINED BY THE BOARD OF TRUSTEES. THE PROPOSED SALARY IS COMPARED TO THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA) ADMINISTRATIVE COMPENSATION SURVEY, COUNCIL FOR CHRISTIAN COLLEGES AND UNIVERSITIES (CCCU) AND OTHER RELEVANT SURVEY DATA. DOCUMENTATION OF THE DELIBERATION AND DECISION IS RECORDED IN THE MINUTES FOR THE EXECUTIVE SESSION OF THE BOARD OF TRUSTEES ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 PROCESS FOR MAKING DOCUMENTS AVAILABLE: LETOURNEAU UNIVERSITY KEEPS ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON SITE AND ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS: CHANGE IN SPLIT INTEREST AGREEMENTS $ 4,990 CHANGE IN BENEFICIAL INTEREST IN RELATED ORG $ 2,394,537 REMOVAL OF LETU FOUNDATION'S NET ASSETS $ 1,198,647 ------------- TOTAL $ 3,598,174 THE LETOURNEAU UNIVERSITY FOUNDATION 2100 SOUTH MOBBERLY AVENUE LONGVIEW TX 75602 832155629 SUPPORT LETU TX 501(c)(3) 12A LETU true CHARITABLE REMAINDER TRUSTS (9) CHARITABLE TR TX NA TRUSTS RG RESEARCH AND DEVELOPMENT INC 2100 SOUTH MOBBERLY AVENUE LONGVIEW TX 75602 921045834 SUPPORT TX LETU C-CORPORATION -42716 57284 1.00000 true false false false true false false false false false false false false false true true false false true true RG RESEARCH AND DEVELOPMENT INC D 100000 FMV LETOURNEAU UNIVERSITY FOUNDATION S 349089 FMV