Lawrence Technological University

Analysis

Lawrence Technological University is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in September 1937, 89 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lawrence Technological University reported income of $81.7m and spending of $86.2m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $66.5m to $81.7m (+23%), an average of +5.3% a year. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lawrence Technological University sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Felician University ($81.7m), Bridgewater College ($82.0m) and Des Moines University Osteopathic Medical Center ($81.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $2.4m (2.7% of expenses). Other salaries and wages came to $38.9m. At year end it held assets of $205.4m against liabilities of $79.2m, net assets of $126.2m. It reported 1,352 employees.