2022-04-28T12:03:54-05:00 2021-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2020-07-01 736091750 Lew Wentz Foundation LEWW 4053251434 1000 Asp Avenue No 208 Norman OK 73019 Matt Hamilton University Trustee 4053251434 2022-04-19 1 Matt Hamilton 999009999 Kim Hunwardsen CPA P00484560 6122536500 2022-04-19 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z Matt Hamilton 1000 Asp Avenue No 208 Norman OK 73019 643664 0 X N/A X 1926 ND The Foundation provides institutional loans to qualified students in order to pursue education at the University of Oklahoma. 5 4 0 5 0 0 0 0 319674 373167 1098312 270497 0 0 1417986 643664 0 0 0 0 0 0 0 0 0 433730 993534 433730 993534 984256 -349870 27442896 30923902 453 2846 27442443 30921056 None 0 0 901663 373167 The Foundation provides loans to qualified students in order to pursue their education at the University of Oklahoma. Fewer loans were awarded in the fiscal year due to COVID relief money given to students. During the year, $1,461,486 of new loans were awarded to a little over 300 students. Effective March 13, 2020 through October 13, 2020 the University did not accrue interest or services for all outstanding institutional loans due to the financial impact of COVID-19. 901663 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 1 0 1 0 0 0 1 0 0 1 0 0 0 OK X Quincy Garner 4053251434 1000 Asp Ave Room 208 Norman OK 73019 X Matt Hamilton Chairman, University Trustee 5.00 40.00 X X 0 201296 64620 Phil Albert Regent Trustee 2.00 0.00 X 0 0 0 William Lissau Bank Trustee 2.00 0.00 X 0 0 0 Jeff Northcut Settlor Trustee 2.00 0.00 X 0 0 0 Carol Burr Alumni Trustee 2.00 0.00 X 0 0 0 Bradley Burnett Secretary-Treasurer 5.00 40.00 X 0 174447 50790 0 375743 115410 0 0 1 0 University of Oklahoma 660 Parrington Oval Norman OK 73019 Administrative Services 157944 1 Student Loan Interest 611600 361972 361972 Other Program Income 900099 11195 11195 373167 270497 270497 643664 373167 0 270497 X 7500 7500 64487 64487 273059 273059 Bad Debt Expense 628604 628604 Loan Write Off at Death 8643 8643 Collection Costs 8311 8311 2930 2930 993534 901663 91871 0 761089 418968 15162060 19973018 11519747 10508379 0 23537 27442896 30923902 453 2846 453 2846 X 27442443 30921056 27442443 30921056 27442896 30923902 -349870 3828483 0 X 0 1 X 1 0 X X 1 University of Oklahoma 736017987 6 1 0 1461486 1 0 1461486 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 Part I, Line 12g(vi): The Organization is supporting the University of Oklahoma by granting loans to qualified students in order to pursue an education at the University of Oklahoma. By providing loans, the Foundation is furthering the purposes of the University. During the year, $1,461,486 of new loans were awarded. Part IV, Section A, Line 2: The Foundation is a supporting organization to the University of Oklahoma. The University of Oklahoma is a governmental affiliate exempt from tax under 115 and does not have an IRS determination letter. Part IV, Section D, Line 3: The University of Oklahoma operates the Foundation through an administrative agreement. The University provides services to the Foundation including loan approval, loan disbursement, loan collection, and accounting services for loans made by the Foundation. In order to assure the responsiveness of the Foundation to the needs of the University, one member of the board is a member of the Board of Regents of the University of Oklahoma and another member of the board is the University President. In addition, the Director of Financial Aid is designated by the University President to serve as the Secretary-Treasurer. Part IV, Section E, Line 2a: The activities of the Foundation further the exempt purposes of the University by providing loans to students to further their education at the University. All activities of the Foundation are related to the administration of the loans provided. Part IV, Section E, Line 2b: If not for the Foundation making loans to students to pursue their education at the University, the University would need to provide additional financial aid to its students. 0 Student Loans 10287006 C Net accrued interest receivable on student loans 221373 C 10508379 X 4407660 3828483 3828483 579177 64487 64487 643664 929047 0 929047 64487 64487 993534 Part X, Line 2: The Foundation believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. 0 0 0 0 0 0 0 0 0 Matt Hamilton Chairman, University Trustee 0 200078 0 0 0 1218 0 48133 0 16486 0 265915 0 0 Bradley Burnett Secretary-Treasurer 0 172934 0 0 0 1513 0 29733 0 21057 0 225237 0 0 Part II: The Organization does not pay compensation. Compensation paid to Matt Hamilton and Bradley Burnett is paid by the related organization for services rendered to the related organization. The related organization uses procedures to ensure reasonableness of compensation. Form 990, Part VI, Section A, line 7a All Board of Trustees positions are designated in the Trust document as follows: The University Trustee: The President of the University of Oklahoma or a designee recommended by the President and approved by the Foundation's Board of Trustees. The Bank Trustee: The President of the Bank of America in Oklahoma City, OK or a designee recommended by the President and approved by the Foundation's Board of Trustees. The Alumni Trustee: A member of the Alumni Association of the University of Oklahoma to be selected by the Executive Board of the Alumni Association The Settlor's Trustee: An individual appointed by the Settlor (if living), otherwise the other trustees on the Foundation board will appoint the replacement. The Regent's Trustee: A member of the Board of Regents of the University of Oklahoma and selected by the Board of Regents of the University of Oklahoma. Form 990, Part VI, Section A, line 8b The organization does not have committees that can act on behalf of the board. Form 990, Part VI, Section B, line 11b A draft of the Form 990 is provided to the board of trustees for review prior to filing with the IRS. Form 990, Part VI, Section B, line 15 The Organization does not have any employees or pay any compensation. Form 990, Part VI, Section C, line 19 The governing documents and financial statements are available upon request. Form 990, Part VII, Section A: Compensation listed in Part VII to Matt Hamilton and Bradley Burnett is for services provided to the related organization, not for services provided to Lew Wentz Foundation. The related organization uses procedures to ensure reasonableness of compensation. Form 990, Part IX, line 11g Prog Service Charges from the University of OK: Program service expenses 273,059. Management and general expenses 0. Fundraising expenses 0. Total expenses 273,059. University of Oklahoma 660 Parrington Oval Norman OK 73019 731377584 Education OK Governmental N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1