Louisiana Tech University Foundation Inc
- Assets
- $108.7m
- Revenue
- $19.1m
- Investments
- $6.1m
- Employees
- 1
- Location
- Ruston, LA
- Founding
- 10/1964
- Data as of
- 06/2022
- EIN
- 72-6021176
Organization Overview
Louisiana Tech University Foundation Inc is located in Ruston, LA. The organization was established in 1964. 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. Louisiana Tech 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 06/2022, Louisiana Tech University Foundation Inc generated $19.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $17.0m during the year ending 06/2022. While expenses have increased by 1.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LOUISIANA TECH UNIVERSITY FOUNDATION WAS ORGANIZED TO SOLICIT, RECEIVE, HOLD, INVEST AND TRANSFER FUNDS FOR THE BENEFIT OF LOUISIANA TECH UNIVERSITY. THE FOUNDATION ALSO ASSISTS LOUISIANA TECH UNIVERSITY IN MEETING THE CRITERIA FOR ACCREDITATION AS OUTLINED BY THE COMMISSION ON COLLEGES FOR THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AMOUNTS EXPENDED FOR SCHOLARSHIPS, EQUIPMENT, SUPPLIES, FACILITIES, AND OTHER ITEMS THAT HELP PROMOTE, IMPROVE, OR SUSTAIN PROGRAMS OF LOUISIANA TECH UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin L Denny Director | Trustee | 2 | $0 |
Bill Bradley Director | Trustee | 2 | $0 |
Katie Hall Director | Trustee | 2 | $0 |
Caroline Reaves Director | Trustee | 2 | $0 |
Chris Richardson Director | Trustee | 2 | $0 |
David G Darland Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skip Holtz Football Coach | 6/29/22 | $1,385,679 |
Michael L Walpole Architect Llc Architect Deisgn Fees | 6/29/22 | $665,140 |
Sonny Cumbie Football Coach | 6/29/22 | $552,303 |
Aramark Campus Services Food Service Provider | 6/29/22 | $347,952 |
Triad Builders Of Ruston Inc Sculpture Plaza Services | 6/29/22 | $302,147 |
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 | $14,518,240 |
| Noncash contributions included in lines 1a–1f | $1,166,714 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,518,240 |
| Total Program Service Revenue | $0 |
| Investment income | $1,313,076 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $251,127 |
| Net Gain/Loss on Asset Sales | $991,463 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,125,681 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,443,495 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $802 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,983 |
| Fees for services: Accounting | $53,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $150,301 |
| Fees for services: Other | $80,726 |
| Advertising and promotion | $1,314 |
| Office expenses | $7,407 |
| Information technology | $219,694 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $24,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,937 |
| Interest | $99,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,435 |
| Insurance | $13,191 |
| All other expenses | $2,898,900 |
| Total functional expenses | $17,036,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,606,952 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,612,380 |
| Accounts receivable, net | $186,970 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,304,170 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $311,250 |
| Net Land, buildings, and equipment | $1,367,775 |
| Investments—publicly traded securities | $67,234,095 |
| Investments—other securities | $6,094,398 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,932,335 |
| Total assets | $108,650,325 |
| Accounts payable and accrued expenses | $654,315 |
| Grants payable | $0 |
| Deferred revenue | $876,141 |
| 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 | $15,235,845 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,521,923 |
| Total liabilities | $53,288,224 |
| Net assets without donor restrictions | $2,351,328 |
| Net assets with donor restrictions | $53,010,773 |
| 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 | $108,650,325 |