Lamar University Foundation Inc
- Assets
- $120.0m
- Revenue
- $9.2m
- Investments
- $21.6m
- Employees
- 0
- Location
- Beaumont, TX
- Founding
- 05/1973
- Data as of
- 08/2022
- EIN
- 23-7298265
Organization Overview
Lamar University Foundation Inc is located in Beaumont, TX. The organization was established in 1973. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lamar University Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2022, Lamar University Foundation Inc generated $9.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $5.5m during the year ending 08/2022. While expenses have increased by 2.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lamar University Foundation Inc has awarded 40 individual grants totaling $20,391,067. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS PROVIDED TO LAMAR UNIVERSITY STUDENTS AS SPECIFIED BY DONOR RESTRICTIONS
OTHER SUPPORT PROVIDED TO LAMAR UNIVERSITY PROGRAMS AS SPECIFIED BY DONOR RESTRICTIONS
SUPPORT PROVIDED TO LAMAR UNIVERSITY FACULTY AS SPECIFIED BY DONOR RESTRICTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra F Clark Trste/com Chair | OfficerTrustee | 3 | $0 |
Terry Garth Trste/com Chair | OfficerTrustee | 3 | $0 |
Larry Norwood Trste/com Chair | OfficerTrustee | 3 | $0 |
Joe Vernon Treasurer | OfficerTrustee | 3 | $0 |
Michele Smith Trste/com Chair | OfficerTrustee | 3 | $0 |
Becky Mason Vice Chairman | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,243,447 |
| Noncash contributions included in lines 1a–1f | $351,597 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,243,447 |
| Total Program Service Revenue | $0 |
| Investment income | -$129,650 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $752,567 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,498,393 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,189,349 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,387,073 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $390 |
| Fees for services: Accounting | $16,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $263,216 |
| Fees for services: Other | $118,755 |
| Advertising and promotion | $0 |
| Office expenses | $11,561 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,229 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $503,563 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,283 |
| Insurance | $19,547 |
| All other expenses | $296,844 |
| Total functional expenses | $5,492,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,383,485 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,231,412 |
| Investments—publicly traded securities | $94,799,777 |
| Investments—other securities | $21,585,330 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,036,710 |
| Total assets | $120,036,714 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,564,459 |
| Total liabilities | $1,564,459 |
| Net assets without donor restrictions | $3,712,902 |
| Net assets with donor restrictions | $114,759,353 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $120,036,714 |
Grants Awarded
Over the last fiscal year, Lamar University Foundation Inc has awarded $2,074,467 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LAMAR UNIVERSITY PURPOSE: Other | $1,243,376 |
LAMAR UNIVERSITY PURPOSE: Faculty support | $638,343 |
LAMAR UNIVERSITY PURPOSE: Students & Student organizations | $99,846 |
LAMAR UNIVERSITY PURPOSE: Facility & equipment | $92,902 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Lamar University Foundation Inc has recieved totaling $429,307.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $193,050 |
H C & C B Locke Charitable Tr Uw Dallas, TX PURPOSE: FUNDS TO RELIEVE SHORTAGE | $50,000 |
National Gift Annuity Foundation Jacksonville, FL PURPOSE: General Support | $48,088 |
Gay D And William F Scott Family Foundation Wilmington, DE PURPOSE: GENERAL CHARITABLE | $26,000 |
Foundation For Southeast Texas Inc Beaumont, TX PURPOSE: GENERAL SUPPORT | $19,686 |
Foundation For Southeast Texas Inc Beaumont, TX PURPOSE: GENERAL SUPPORT | $18,946 |
Endowment Analysis
| Beg. Balance | $126,251,670 |
| Earnings | $9,376,912 |
| Admin Expense | $1,467,146 |
| Net Contributions | $5,825,732 |
| Grants | $4,849,069 |
| Ending Balance | $135,138,099 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisiana At Lafayette Foundation Lafayette, LA | $292,703,277 | $46,235,918 |
Louisiana Tech University Foundation Inc Ruston, LA | $117,962,998 | $18,845,072 |
New Mexico State University Foundation Inc Las Cruces, NM | $355,498,587 | $111,307,691 |
America Can Cars For Kids Dallas, TX | $4,240,577 | $12,374,341 |
Friends Of Imagine International Academy Of North Texas Mckinney, TX | $32,038,501 | $13,231,420 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX | $379,261,425 | $375,406 |
University Of Texas Law School Foundation Austin, TX | $263,458,115 | $22,437,207 |
Dallas Seminary Foundation Dallas, TX | $76,216,359 | $8,000,736 |
Sul Ross State University Foundation Alpine, TX | $1,687,998 | $1,230,429 |
University Of New Orleans Foundation New Orleans, LA | $129,213,862 | $21,783,517 |
Grambling High Foundation Grambling, LA | $36,491,619 | $11,923,300 |
University Of Houston Foundation Houston, TX | $176,095,945 | $16,062,659 |