Letourneau University Foundation

Analysis

Letourneau University Foundation is a registered charity in United States, based in Longview, TX. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Letourneau University Foundation reported income of $999k and spending of $667k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $177k to $999k (+463%), an average of +54% a year. The sharpest change came in the year to June 2020, when income rose by 228%. Over the whole period it spent 24% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Letourneau University Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Tarpon Springs Band Boosters Inc ($999k), Arizona Private School Tuition Organization Apsto Inc ($999k) and Carriage House School Inc ($998k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.4% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $123k (18% of expenses). Other salaries and wages came to $150k. At year end it held assets of $34.1m against liabilities of $2.8m, net assets of $31.3m. It reported 3 employees.