2024-04-01T11:10:16-05:00 2023-06-30 FORVIS LLP 14241 DALLAS PARKWAY SUITE 1100 DALLAS TX 75254 990 2022-07-01 832155629 The Letourneau University Foundation % SHARED LOCATION LETO 9032334110 2100 South Mobberly Ave Longview TX 75602 THOMAS E BEVAN PRESIDENT (CEO) 9032334110 2024-05-15 true THOMAS E BEVAN 999009999 Jeanette Verrelli P00742631 9727028262 3 2022 2023-04-26 12:10:37Z THOMAS E BEVAN 2100 SOUTH MOBBERLY AVE LONGVIEW TX 75602 3749613 false X N/A X 2018 TX TO SUPPORT LETOURNEAU UNIVERSITY 9 7 3 7 0 0 2953014 13825 250945 333371 208042 649436 0 1977 3412001 998609 0 0 0 0 220156 338877 0 0 18565 264760 328357 484916 667234 2927085 331375 30343194 34086293 1787842 2804817 28555352 31281476 X 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. false false 0 0 335348 IN FULFILLMENT OF OUR MISSION, WE HAVE ENGAGED NUMEROUS LETOURNEAU UNIVERSITY ALUMNI AND CONSTITUENCY, AND ASSISTED THEM IN THE COMPLETION OF THEIR LEGACY PLANNING. IN SERVICE TO THEIR STATED WISHES IN THOSE ESTATE AND LEGACY PLANS, WE HAVE THEN CONSULTATIVELY ARRIVED AT LEGACY GIFT DESIGNS THAT INURE TO THE BENEFIT OF LETOURNEAU UNIVERSITY - SOME THROUGH OUTRIGHT TESTAMENTARY BEQUESTS; OTHERS BY MEANS OF THE REMAINDER INTEREST FOR THE UNIVERSITY IN CHARITABLE SPLIT INTEREST IRREVOCABLE TRUSTS. 0 true false false false false false false false false true true false false false true false false true false false false false false false false false false false false true false false false false false false false false false false false false false true true false false false true 0 0 3 true false false false false false false false false false false false false X 9 7 false false false false false true true true true false false true true true true true true true false false X SHARED LOCATION 9032334110 2100 SOUTH MOBBERLY AVE LONGVIEW TX 75602 DR STEVEN MASON PRESIDENT, LETOURNEAU UNIV. 1.0 59.0 X 0 348065 23694 Thomas E Bevan President (CEO) 50.0 0.0 X X 112500 0 10125 Daniel Difrancesco Board Chairman 1.0 3.0 X X 0 0 0 Kenneth Moore DIRECTOR 1.0 0.0 X 0 0 0 Jim Mauldin SECRETARY/TREASURER 1.0 0.0 X X 0 0 0 Bob Walker BOARD VICE CHAIRMAN 1.0 0.0 X X 0 0 0 ROGER KIEFFER DIRECTOR 1.0 3.0 X 0 0 0 JOHN ROSS DIRECTOR 1.0 3.0 X 0 0 0 LARRY MERCER DIRECTOR 1.0 3.0 X 0 0 0 112500 348065 33819 1 false true false 0 13825 13825 ENDOWMENT MANAGEMENT FEE REVENUE 900099 333371 333371 333371 693877 693877 0 0 0 0 0 2706563 2751004 -44441 -44441 -44441 0 0 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 900099 1977 1977 1977 998609 335348 649436 0 0 0 0 122625 122625 0 150000 150000 8405 8405 38408 38408 19439 19439 27555 27555 17078 17078 4800 4800 0 0 146139 146139 63331 63331 5009 5009 24278 24278 0 0 7189 7189 18565 18565 0 0 0 0 14413 14413 0 667234 0 648669 18565 34538 26239 0 0 0 0 79722 80088 0 0 0 0 0 0 0 0 0 0 72067 28137 58397 43930 30170537 33936036 0 0 0 0 0 0 0 0 30343194 34086293 31658 21804 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1756184 2783013 1787842 2804817 X 20426197 25019655 8129155 6261821 28555352 31281476 30343194 34086293 X 331375 2401521 -6772 X false true X true false X X X 1 LETOURNEAU UNIVERSITY 751081109 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false true 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 false 72067 28137 43930 43930 0 ANNUITIES AND TRUSTS PAYABLE 2783013 2783013 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 ENDOWMENT FUNDS: THE ENDOWMENT FUNDS ARE HELD EXCLUSIVELY FOR THE BENEFIT OF LETOURNEAU UNIVERSITY. X X false false false false false false false false false DR STEVEN MASON PRESIDENT, LETOURNEAU UNIV. 284398 0 63667 16051 7643 371759 FORM 990, PART VI, SECTION A, LINE 7A POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE 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, SECTION A, LINE 7B GOVERNANCE DECISIONS RESERVED TO PERSONS OTHER THAN THE GOVERNING BODY: 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, 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 MANAGEMENT. A COPY 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 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, SECTION B, LINE 15A PROCESS FOR DETERMINING PRESIDENT'S (CEO) COMPENSATION: 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, SECTION C, LINE 19 PROCESS FOR MAKING DOCUMENTS AVAILABLE: 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. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS: TRANSFER FROM UNIVERSITY: $ 349,089 CHANGE IN SPLIT INTEREST AGREEMENT: (338,359) CHANGE IN ANNUITY (17,502) -------------- TOTAL $ (6,772) LETOURNEAU UNIVERSITY PO BOX 7001 LONGVIEW TX 75607 751081109 SCHOOL TX 501(C)(3) 2 NA false CHARITABLE REMAINDER TRUSTS (5) CHARITABLE TR TX NA TRUSTS RG Research and Development Inc 2100 South Mobberly Avenue Longview TX 75602 921045834 support TX LETU C-Corporation true false false true false false false false false false false false false false true true false false true true