Lamar University Foundation Inc
- Assets
- $128.3m
- Revenue
- $9.2m
- Investments
- $25.4m
- Employees
- 0
- Location
- Beaumont, TX
- Founding
- 05/1973
- Data as of
- 08/2023
- 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 08/2023, Lamar University Foundation Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $5.6m during the year ending 08/2023. While expenses have increased by 2.6% per year over the past 8 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 36 individual grants totaling $16,881,420. 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
2023
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
SUPPORT PROVIDED TO LAMAR UNIVERSITY FACULTY AS SPECIFIED BY DONOR RESTRICTIONS
OTHER SUPPORT PROVIDED TO LAMAR UNIVERSITY PROGRAMS AS SPECIFIED BY DONOR RESTRICTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juan J Zabala CEO | Officer | 6 | $0 |
Karen Nichols COO | Officer | 34 | $0 |
J Mark Smith Trustee | Trustee | 1 | $0 |
Elaine Henry Trustee | Trustee | 1 | $0 |
J Pat Parsons Trustee | Trustee | 1 | $0 |
Sandra F Clark Trste/com Chair | 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 | $4,598,080 |
| Noncash contributions included in lines 1a–1f | $263,608 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,598,080 |
| Total Program Service Revenue | $0 |
| Investment income | -$19,567 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $366,973 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,941,302 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,209,579 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,419,602 |
| 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 | $5,327 |
| Fees for services: Accounting | $16,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $196,421 |
| Fees for services: Other | $145,438 |
| Advertising and promotion | $0 |
| Office expenses | $10,261 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $156,991 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $240,449 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,012 |
| Insurance | $13,804 |
| All other expenses | $258,248 |
| Total functional expenses | $5,628,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $758,546 |
| 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 | $400,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,447,513 |
| Investments—publicly traded securities | $99,297,712 |
| Investments—other securities | $25,360,534 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,026,133 |
| Total assets | $128,290,438 |
| 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 | $1,548,480 |
| Total liabilities | $1,548,480 |
| Net assets without donor restrictions | $3,909,653 |
| Net assets with donor restrictions | $122,832,305 |
| 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 | $128,290,438 |
Grants Awarded
Over the last fiscal year, Lamar University Foundation Inc has awarded $2,009,839 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LAMAR UNIVERSITY PURPOSE: Facility & equipment | $40,216 |
LAMAR UNIVERSITY PURPOSE: Students & Student organizations | $480,679 |
LAMAR UNIVERSITY PURPOSE: Other | $619,683 |
LAMAR UNIVERSITY PURPOSE: Faculty support | $869,261 |