Overview
What is Lamar University Foundation Inc?
Lamar University Foundation Inc is a nonprofit organization based in Beaumont, Texas. Their primary mission is to support and advance Lamar University, its students, faculty, and staff. They achieve this by encouraging donations and managing investments to further educational opportunities. The foundation acts as a steward of donor contributions, enhancing the quality of services offered by the university to students, faculty, alumni, and friends. One of their key roles is managing endowment funds and other private assets given for Lamar University's benefit. Their main activity involves providing scholarships to Lamar University students, adhering to the donor's specified restrictions.
Official website here: www.lamar.edu/advancement/foundation/index.html
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star Rating)
The Lamar University Foundation Inc has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance management. The organization achieves full credit in multiple key areas, including independent board member composition and comprehensive governance policies, which demonstrate transparency and responsibility in its operations. With a program expense ratio of 83.91%, the foundation effectively allocates a significant portion of its resources to its programs, ensuring that the majority of funds directly benefit its mission.
Strengths of the foundation include a robust independent board and prudent financial management, as evidenced by its low liabilities to assets ratio and exceptional fundraising efficiency. The foundation also prioritizes governance practices by maintaining various policies aimed at ensuring ethical operation and safeguarding organizational assets. The CEO and COO are well-compensated, which may reflect their significant responsibilities within the organization.
However, it's worth noting that while the charity excels in accountability and transparency, it has not been scored on impact and measurement, culture and community, or leadership and adaptability. This gap indicates areas where additional evaluation could provide insights into the foundation's effectiveness in achieving its long-term goals. User reviews from GreatNonprofits are currently not available.
This AI summary has been generated from information found on Charity Navigator.
Is Lamar University Foundation Inc legitimate?
Lamar University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lamar University Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lamar.edu/advancement/foundation/index.html
What is the mission statement of Lamar University Foundation Inc?
Lamar University Foundation Inc's mission is centered around supporting and enhancing Lamar University. They encourage the commitment of personal and financial resources to advance the education of students. The foundation promotes the stewardship of donors to improve the quality of services provided by the university to students, faculty, alumni, and friends. Additionally, the Lamar University Foundation manages investments and serves as a trustee for endowment funds and other private assets contributed for the benefit of the university. Their primary goal is to foster the growth and development of Lamar University.
Official website here: www.lamar.edu/advancement/foundation/index.html
Who is the CEO of Lamar University Foundation Inc?
Juan J Zabala is the Ceo of Lamar University Foundation Inc. The CEO's salary of Lamar University Foundation Inc is $0 and their total compensation is $200,962.
Official website here: www.lamar.edu/advancement/foundation/index.html
What is the revenue of Lamar University Foundation Inc?
Lamar University Foundation Inc's revenue in 2022 was $9,189,349.
Official website here: www.lamar.edu/advancement/foundation/index.html
Who are the executives of Lamar University Foundation Inc and what are their salaries?
There 29 volunteers at Lamar University Foundation Inc.
Here are 31 key members and their salaries (Lamar University Foundation Inc's CEO's salary is $0 and their total compensation is $200,962):
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- Related: $168,102
- Other: $32,860
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Official website here: www.lamar.edu/advancement/foundation/index.html
Where can I find the form 990 for Lamar University Foundation Inc?
Lamar University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lamar.edu/advancement/foundation/index.html
Learn more at the official website: www.lamar.edu/advancement/foundation/index.html
Mission Statement of Lamar University Foundation Inc
Lamar University Foundation Inc is committed to fostering the growth and recognition of Lamar University, its students, faculty, and staff. The foundation's mission is twofold. Firstly, it encourages the dedication of both personal and financial resources to enhance the educational opportunities for Lamar University students. Secondly, it promotes the responsible management of donors' contributions to improve the quality of services provided by the university to students, faculty, alumni, and friends. The foundation acts as a trustee for endowment funds and other private assets donated for the benefit of Lamar University, managing its investments effectively to further its goals. In essence, Lamar University Foundation Inc plays a crucial role in supporting and enhancing the development and promotion of Lamar University, ultimately benefiting its entire community.
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Impact
October, 2024
Lamar University Foundation Inc significantly impacts the educational landscape by supporting the development and promotion of Lamar University and its community. By fostering a commitment to personal and financial resources, the Foundation enhances opportunities for students, faculty, and staff, ensuring a higher quality of education. It effectively manages investments and acts as trustee for endowment funds, facilitating the allocation of scholarships tailored to student needs as determined by donor preferences.
The Foundation's emphasis on stewardship encourages lasting relationships with donors, amplifying the resources available for educational services. This commitment not only advances the educational mission of Lamar University but also cultivates a thriving academic environment that benefits students, alumni, and the broader community in Beaumont, TX. Through its initiatives, the Lamar University Foundation Inc plays an essential role in enriching the educational experiences of countless individuals, thereby contributing to the overall growth and development of the institution.
This information is meant to be a general summary of Lamar University Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,368,743
- Gross Receipts: $22,111,331
Assets and Liabilities:
- Total Assets: $120,036,714
- Total Liabilities: $1,564,459
- Net Assets: $118,472,255
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Organization Details
Founding Year
1972
Phone
(409) 880-2117Principal Officer
Juan J Zabala
Main Address
P O Box 11500, Beaumont, TX, 77710
NTEE Category
Code: B110 - Education
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