LeTourneau University

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: admissions@letu.edu


Organization details

EIN: 751081109

CEO/President: Dr. Dale Lunsford

Chairman: Patrick A. Bertsche

Board size: 25

Founder: R.G. LeTourneau

Year founded: 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 begotten by the Holy Spirit, 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. LeTourneau University is committed to educational studies within the framework of a Christian theistic view of the world, of man and of man's culture in the light of biblical and natural revelation. Such a view sees no dichotomy in truth, affirms that biblical revelation and scientific inquiry are complementary rather than contradictory and requires a recognition of a personal God revealed both in nature and in the person of Jesus Christ, His Son. Thus, all truth is regarded as God-given and is considered sacred. It should be pursued with diligence and received with humility. 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 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 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.

Transparency grade

This ministry has not been assigned a transparency grade.

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating279 of 58617 of 53
Fund acquisition rating253 of 58613 of 53
Resource allocation rating170 of 58625 of 53
Asset utilization rating462 of 58629 of 53

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20172016201520142013
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%15%11%17%17%18%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%1%1%2%1%2%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
94%8%11%9%8%11%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%1%1%2%1%2%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
6%92%89%91%92%89%
 
Operating ratiosMedian % for
all ministries in
MW database
20172016201520142013
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%86%86%85%87%85%
Spending ratio Spending ratio =
Total expenses /
Total revenue
98%103%100%101%98%97%
Program output ratio Program output ratio =
Program services /
Total revenue
80%88%86%86%86%82%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
2%-3%0%-1%2%3%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%-2%0%-1%1%2%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%13%13%13%12%13%
 
Investing ratiosMedian measure
for all ministries
in MW database
20172016201520142013
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.070.490.490.490.440.44
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.692.562.612.742.772.64
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.181.261.271.331.221.17
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20172016201520142013
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.797.607.107.686.786.21
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.110.130.140.130.150.16
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.718.268.097.838.398.59
 
Solvency ratiosMedian % for
all ministries in
MW database
20172016201520142013
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%16%18%18%20%22%
Debt ratio Debt ratio =
Debt /
Total assets
0%9%9%11%11%12%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
75%171%168%167%182%176%

Financials

Balance sheet
 
Assets20172016201520142013
Cash$19,657,446$20,286,222$23,341,119$22,763,014$21,140,830
Receivables, inventories, prepaids$2,380,321$2,773,332$3,481,625$5,071,911$7,676,376
Short-term investments$30,298,116$30,175,630$24,162,364$23,997,359$25,684,171
Other current assets$0$0$0$0$0
Total current assets$52,335,883$53,235,184$50,985,108$51,832,284$54,501,377
Long-term investments$0$0$0$0$0
Fixed assets$75,351,665$78,955,265$81,895,138$85,110,189$82,956,656
Other long-term assets$6,142,835$6,724,987$6,643,431$6,579,168$6,336,884
Total long-term assets$81,494,500$85,680,252$88,538,569$91,689,357$89,293,540
Total assets$133,830,383$138,915,436$139,523,677$143,521,641$143,794,917
 
Liabilities20172016201520142013
Payables and accrued expenses$3,550,162$4,371,336$3,738,428$4,662,494$5,794,166
Other current liabilities$3,339,776$3,131,723$2,902,036$2,984,979$2,984,429
Total current liabilities$6,889,938$7,503,059$6,640,464$7,647,473$8,778,595
Debt$11,389,856$13,180,841$14,784,274$16,321,444$17,795,125
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$2,929,238$4,065,407$4,340,817$4,742,905$4,746,236
Total long-term liabilities$14,319,094$17,246,248$19,125,091$21,064,349$22,541,361
Total liabilities$21,209,032$24,749,307$25,765,555$28,711,822$31,319,956
 
Net assets20172016201520142013
Unrestricted$87,411,544$88,681,809$90,296,600$92,625,927$90,000,189
Temporarily restricted$5,685,935$6,383,883$6,846,373$5,863,500$6,417,688
Permanently restricted$19,523,872$19,100,437$16,615,149$16,320,392$16,057,084
Net assets$112,621,351$114,166,129$113,758,122$114,809,819$112,474,961
 
Revenues and expenses
 
Revenue20172016201520142013
Total contributions$5,334,183$7,812,512$6,287,246$5,211,613$7,237,793
Program service revenue$57,309,078$59,345,286$59,950,136$58,286,917$58,111,613
Membership dues$0$0$0$0$0
Investment income$1,281,980$727,020$842,448$720,041$422,842
Other revenue$147,191$175,279$153,863$30,994$229,497
Total other revenue$58,738,249$60,247,585$60,946,447$59,037,952$58,763,952
Total revenue$64,072,432$68,060,097$67,233,693$64,249,565$66,001,745
 
Expenses20172016201520142013
Program services$56,603,053$58,499,704$57,835,210$54,964,231$54,077,751
Management and general$8,609,823$8,483,146$9,082,886$7,399,445$8,483,678
Fundraising$775,667$840,616$1,056,456$870,053$1,314,491
Total expenses$65,988,543$67,823,466$67,974,552$63,233,729$63,875,920
 
Change in net assets20172016201520142013
Surplus (deficit)($1,916,111)$236,631($740,859)$1,015,836$2,125,825
Other changes in net assets$0$0$0$0$0
Total change in net assets($1,916,111)$236,631($740,859)$1,015,836$2,125,825

Response from ministry

No response has been provided by this ministry.


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.


Program accomplishments


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