LeTourneau University

The information on this page was last updated 3/17/2023. If you see errors or omissions, please email: [email protected]


Summary

LeTourneau University is a place for those who learn by doing. We are makers, doers, creators. We are small enough to give every student hands-on professional experience and comprehensive enough to assemble outstanding faculty in dozens of academic programs. The world is our mission field, where our graduates carry the Good News of Jesus Christ.


Contact information

Mailing address:
LeTourneau University
2100 S Mobberly Ave
Longview, TX 75602

Website: letu.edu

Phone: 903-233-3000

Email: [email protected]


Organization details

EIN: 751081109

CEO/President: Dr. Steven D. Mason

Chairman: Patrick A. Bertsche

Board size: 26

Founder: R.G. LeTourneau

Ruling year: 1962

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 1987


Purpose

Claiming every workplace in every nation as our mission field, LeTourneau University graduates are professionals of ingenuity and Christ-like character who see life's work as a holy calling with eternal impact.


Mission statement

LeTourneau University is a comprehensive institution of Christian higher education where educators engage learners to nurture Christian virtue, to develop competency and ingenuity in their professional fields, to integrate faith and work, and to serve the local and global community.


Statement of faith

A deep faith in God is the cornerstone of LeTourneau University. We believe that no education is complete until a student understands who God is and how to relate to Him through His Son, Jesus Christ. This belief influences all that we do and teach. While we believe that everyone must have the freedom to interpret God's truth individually, LeTourneau University recognizes certain basic tenets of the Christian faith:

We believe the Scriptures of the Old and New Testaments are the only inspired, authoritative Word of God and are completely truthful and without error.

We believe in one God, eternally existing in three persons: Father, Son, and Holy Spirit.

We believe that Jesus Christ was conceived by the Holy Spirit, was born of the Virgin Mary, and is true God and true man.

We believe that man, created in the image of God, sinned and thereby incurred not only physical death but also spiritual death, which is separation from God; that all human beings are born with a sinful nature, and that those who reach moral responsibility become sinners in thought, word, and deed.

We believe that the Lord Jesus Christ died for our sins according to the Scriptures, as a representative and substitutionary sacrifice, and that all who believe in Him are justified on the basis of His shed blood.

We believe in the resurrection of the crucified body of our Lord, in His ascension into Heaven, and His present life there for us as High Priest and Advocate.

We believe in "that blessed hope," the personal, visible and imminent return of our Lord and Savior, Jesus Christ.

We believe that all who receive by faith the Lord Jesus Christ are born again of the Holy Spirit and thereby become the children of God; by Grace are we saved through faith.

We believe in the bodily resurrection of the just and unjust, the everlasting blessedness of the saved, and the everlasting conscious punishment of the lost.

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Transparency grade

A

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Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating373 of 109748 of 130
Fund acquisition rating592 of 109973 of 130
Resource allocation rating414 of 109950 of 130
Asset utilization rating344 of 109745 of 130

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
9%10%9%14%19%16%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%2%1%1%1%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
22%17%13%10%7%8%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%2%1%1%1%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
78%83%87%90%93%92%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%85%88%87%86%86%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%94%94%105%107%102%
Program output ratio Program output ratio =
Program services /
Total revenue
77%81%83%91%92%88%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%6%6%-5%-7%-2%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
6%4%4%-3%-4%-1%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%13%10%12%12%12%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.510.580.540.590.570.52
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.663.774.004.664.592.58
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.392.202.172.742.621.35
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.605.584.973.864.067.39
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.120.180.200.260.250.14
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
7.334.484.413.253.457.67
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
25%12%11%13%14%15%
Debt ratio Debt ratio =
Debt /
Total assets
13%3%4%5%6%7%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
151%152%165%149%151%163%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$20,576,726$21,355,439$12,859,089$10,795,495$21,201,089
Receivables, inventories, prepaids$1,330,485$1,281,286$1,439,257$1,556,975$1,927,972
Short-term investments$11,536,879$8,909,397$11,076,190$14,415,232$27,250,031
Other current assets$0$0$0$0$0
Total current assets$33,444,090$31,546,122$25,374,536$26,767,702$50,379,092
Long-term investments$0$0$0$0$0
Fixed assets$59,163,525$61,780,890$66,045,395$70,050,460$73,645,243
Other long-term assets$33,478,238$32,877,880$26,872,732$26,062,755$6,069,494
Total long-term assets$92,641,763$94,658,770$92,918,127$96,113,215$79,714,737
Total assets$126,085,853$126,204,892$118,292,663$122,880,917$130,093,829
 
Liabilities20222021202020192018
Payables and accrued expenses$3,109,783$3,314,653$3,027,368$3,870,216$3,999,698
Other current liabilities$2,884,975$3,035,779$3,546,040$2,725,743$2,818,985
Total current liabilities$5,994,758$6,350,432$6,573,408$6,595,959$6,818,683
Debt$3,819,325$4,929,053$5,979,823$7,864,104$9,662,426
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$4,808,449$2,084,828$2,244,566$2,249,360$2,443,563
Total long-term liabilities$8,627,774$7,013,881$8,224,389$10,113,464$12,105,989
Total liabilities$14,622,532$13,364,313$14,797,797$16,709,423$18,924,672
 
Net assets20222021202020192018
Without donor restrictions$88,936,535$88,960,072$77,888,647$81,292,260$85,538,523
With donor restrictions$22,526,786$23,880,507$25,606,219$24,879,234$25,630,634
Net assets$111,463,321$112,840,579$103,494,866$106,171,494$111,169,157
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$13,459,565$9,689,523$6,309,611$4,672,156$5,628,494
Program service revenue$63,899,618$61,902,798$59,170,398$59,522,790$59,104,608
Membership dues$0$0$0$0$0
Investment income$249,188$1,073,348$694,220$1,365,896$1,942,382
Other revenue$177,253$26,633($17,336)$105,167$136,145
Total other revenue$64,326,059$63,002,779$59,847,282$60,993,853$61,183,135
Total revenue$77,785,624$72,692,302$66,156,893$65,666,009$66,811,629
 
Expenses20222021202020192018
Program services$62,679,513$60,467,747$60,274,289$60,725,312$58,885,857
Management and general$9,487,838$7,182,810$8,296,384$8,619,268$8,406,211
Fundraising$1,300,032$919,398$898,496$893,086$900,421
Total expenses$73,467,383$68,569,955$69,469,169$70,237,666$68,192,489
 
Change in net assets20222021202020192018
Surplus (deficit)$4,318,241$4,122,347($3,312,276)($4,571,657)($1,380,860)
Other changes in net assets$0$0$0$0$0
Total change in net assets$4,318,241$4,122,347($3,312,276)($4,571,657)($1,380,860)

Compensation

NameTitleCompensation
Dr Dale LunsfordChancellor$406,361
Dr Steven MasonPresident$332,240
Steven StarrettDean Engineering Technology$192,518
Dr Ben CaldwellProvost$168,830
Terry A ZeitlowVice President Development$157,960
Mike HoodVP For Finance and Admin$155,947
Don EgleVice President For Mktg & Comm$131,131
Kathleen MaysDean School of Business$116,410

Compensation data as of: 6/30/2022


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/17/2023. To update the information below, please email: [email protected]


History

LeTourneau University is named for its founder, R.G. LeTourneau, one of the world's greatest inventors of earthmoving equipment. A businessman and devout Christian, LeTourneau toured Longview, Texas, with his wife, Evelyn, in 1946 to consider a manufacturing site for his next earthmoving equipment factory. While flying over a sprawling complex of a vacated Army hospital consisting of over 200 frame buildings, Mrs. LeTourneau inquired about the facility. When told it was no longer in use, she suggested establishing a school to educate returning World War II veterans.

The site became LeTourneau Technical Institute, founded in 1946 with only male students. In 1961 the school became LeTourneau College, a co-educational four-year school. In 1989 LeTourneau College became LeTourneau University, a SACSCOC and ABET accredited, nondenominational Christian university, offering four-year and two-year degree programs in engineering, technology, the liberal arts, business, aeronautical science, education, and the sciences, plus master's degree programs in business and education.

In that same year, the university began expanding into offering programs for working adults in evening and weekend classes. Calling it the LEAP program, which stood for LeTourneau Education for Adult Professionals, classes with the same students making a group, or cohort, met weekly for six to eight weeks per course. Cohorts were kept on track through to degree completion with students automatically enrolled in each next class, and as each class finished, the next course began in the same location the following week with a different professor. Many other universities have adopted this format to reach working adults.

Today, more than 1,150 students attend LeTourneau University classes online or at our educational centers in Dallas and Houston, and might not step foot onto the university's beautiful main campus in Longview, Texas unless they come for graduation. The university has eight schools. Currently, LeTourneau University is led by its sixth president, Dr. Dale A. Lunsford, and its board of trustees.

LeTourneau University is an unapologetically Christian university. While it has no direct denominational ties, it welcomes students of all denominations who love and seek after God. It is a place where students have found a deeper relationship with Him, grown in their spiritual walk and discovered God's purpose for their lives.

Currently, LeTourneau University is led by its seventh president, Dr. Steven D. Mason, and its board of trustees.

LeTourneau University is an unapologetically Christian university. While it has no direct denominational ties, it welcomes students of all denominations who love and seek after God. It is a place where students have found a deeper relationship with Him, grown in their spiritual walk and discovered God's purpose for their lives.


Program accomplishments


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