2022-04-12T14:20:59-05:00 2021-05-31 621199757 LBMC PC PO BOX 1869 BRENTWOOD TN 370241869 990 2020-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 JEFFREY BAUGHN SENIOR VP FOR FINANCE & TECHNOLOGY 6159661000 2022-04-09 1 JEFFREY BAUGHN 999009999 JILL HUDSON P00061190 6153774600 2022-04-09 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LIPSCOMB UNIVERSITY JEFFREY BAUGHN ONE UNIVERSITY PARK DR NASHVILLE TN 37204 246323857 0 X WWW.LIPSCOMB.EDU X 1891 TN LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB ALSO SEEKS TO MAKE A POSITIVE DIFFERENCE IN THE COMMUNITY. 24 23 2571 200 19825 17949 17299060 28228701 175762977 182524563 -1568085 4215747 2057694 1288183 193551646 216257194 45342081 51764810 0 0 84476611 80534736 0 0 4019139 75110566 73969923 204929258 206269469 -11377612 9987725 475201837 502799879 290452537 281284168 184749300 221515711 X LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB SEEKS TO BE ENGAGED IN THE COMMUNITY AND TO BE A GOOD NEIGHBOR AS IT CONTINUES TO GROW. 0 0 111252766 51764810 163984753 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL AND BEYOND WITH LIFELONG LEARNING. 27908838 STUDENT SERVICES:ENGAGING STUDENT LIFE IN A DYNAMIC AND DIVERSE COMMUNITY THAT GIVES STUDENTS THE OPPORTUNITY TO BE REAL WITH THEMSELVES AND EACH OTHER WHILE PROVIDING OPPORTUNITIES FOR SPIRITUAL FAITH DEVELOPMENT THROUGH SERVICE AND LEARNING. 15964817 18603458 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 15097961 ACADEMIC SUPPORT:INCLUDES ACADEMIC COUNSELING & TESTING SERVICES, ACADEMIC PROGRAM DEVELOPMENT, UNIVERSITY DEANS, INSTRUCTIONAL TECHNOLOGY, LIBRARY SERVICES, AND OTHER AREAS DESIGNED TO ENHANCE A STUDENT'S LEARNING EXPERIENCE AND THE OVERALL QUALITY OF A STUDENT'S EDUCATION. 1329066 PUBLIC SERVICES:INCLUDES COMMUNITY OUTREACH ACTIVITIES, SPIRITUAL FORMATION ACTIVITIES, AND SUSTAINABILITY WHERE LIPSCOMB CAN POSITIVELY IMPACT COMMUNITIES AND THE ENVIRONMENT. RESEARCH:INCLUDES POTENTIAL DISCOVERIES OF NEW OUTCOMES WITH A GOAL OF ADVANCING PROGRESS BOTH INSTITUTIONALLY AND GLOBALLY. 16427027 171553448 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 1 0 0 0 0 1 6951 0 1 2571 1 1 1 1 IT 0 0 0 1 0 0 0 0 0 0 0 X 24 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X JEFFREY BAUGHN SVP FOR FINANCE & TECHNOLOGY 6159667650 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 37204 MICHAEL F ADAMS TRUSTEE 1.00 X 0 0 0 BUDDY BELL TRUSTEE 1.00 X 0 0 0 PATRICK SHAWN CHAFFIN TRUSTEE 1.00 X 0 0 0 GERALD COGGIN TRUSTEE 1.00 X 0 0 0 RICHARD G COWART TRUSTEE 1.00 X 0 0 0 DIANE CREEL TRUSTEE 1.00 X 0 0 0 MORGAN W DAVIS TRUSTEE 1.00 X 0 0 0 MITCH EDGEWORTH TRUSTEE 1.00 X 0 0 0 JAMES GRIFFITH TRUSTEE 1.00 X 0 0 0 BART HARPER TRUSTEE 1.00 X 0 0 0 BENNIE HARRIS TRUSTEE 1.00 X 0 0 0 PAULA HARRIS TRUSTEE 1.00 X 0 0 0 VAN HENLEY TRUSTEE 1.00 X 0 0 0 TOM INGRAM TRUSTEE 1.00 X 0 0 0 MARTY KITTRELL TRUSTEE 1.00 X 0 0 0 TERRY KOONCE TRUSTEE 1.00 X 0 0 0 MARK LANIER TRUSTEE 1.00 X 0 0 0 JOHN LITTLE TRUSTEE 1.00 X 0 0 0 BILLY LONG TRUSTEE 1.00 X 0 0 0 RANDY LOWRY TRUSTEE 1.00 X 0 0 0 LISA PIERCEY TRUSTEE 1.00 X 0 0 0 KENNETH SHUMARD TRUSTEE 1.00 X 0 0 0 CICELY SIMPSON TRUSTEE 1.00 X 0 0 0 VICKI SENSING SMITH TRUSTEE 1.00 X 0 0 0 DAVID L SOLOMON TRUSTEE 1.00 X 0 0 0 JERRY COVER TRUSTEE 1.00 X 0 0 0 NEIKA B STEPHENS TRUSTEE 1.00 X 0 0 0 RANDY R LOWRY III PRESIDENT 40.00 X X 538233 0 115498 W CRAIG BLEDSOE PROVOST 40.00 X 202840 0 9213 SUSAN C GALBREATH SVP FOR STRATEGY 40.00 X 174239 0 21689 JEFFREY BAUGHN SVP OF FINANCE & TECHNOLOGY 40.00 X 119558 0 10000 JOHN R LOWRY SVP OF ADVANCEMENT 40.00 X 220174 0 26668 MATT PADEN SVP OF ENROLLMENT & STUDENT ENGAGEMENT 40.00 X 185199 0 26162 DAVID G WILSON GENERAL COUNSEL 40.00 X 161751 0 27224 DAVE BRUNO VP OF MARKETING 40.00 X 127465 0 22597 DARRELL DUNCAN VP OF FINANCE 40.00 X 139004 0 24496 KEVIN EIDSON DIRECTOR OF HEALTH & WELLNESS 40.00 X 163959 0 19469 CHRISTY HOOPER VP OF HUMAN RESOURCES 40.00 X 153625 0 26557 PHILIP N HUTCHESON DIRECTOR OF ATHLETICS 40.00 X 170681 0 30001 WALT C LEAVER III VP OF UNIVERSITY RELATIONS 40.00 X 118342 0 21030 BYRON LEWIS VP OF ENROLLMENT MANAGEMENT 40.00 X 122673 0 23871 SCOTT SAGER VP OF CHURCH SERVICES 40.00 X 93150 0 42723 BRETT HINSON VP & CIO 40.00 X 0 0 0 BRAD SHULTZ HEAD OF SCHOOL 40.00 X 137920 0 22131 WILLIAM TURNER SPECIAL COUNSEL TO THE PRESIDENT 40.00 X 127612 0 21894 CHARLES R ELDRIDGE DEAN OF COLLEGE OF BUSINESS 40.00 X 206648 0 10047 THOMAS CAMPBELL DEAN OF COLLEGE OF PHARMACY 40.00 X 224281 0 26250 PARKER ELROD DEAN OF COLLEGE OF ENGINEERING 40.00 X 200629 0 8996 DEBORAH BOYD DEAN OF COLLEGE OF EDUCATION 40.00 X 150042 0 23231 R MICHAEL FERNANDEZ DEAN OF THE GEORGE SHINN COLLEGE OF ENTERTAINMENT 40.00 X 191261 0 25910 DAVID HOLMES DEAN OF THE COLLEGE OF LIBERAL ARTS AND SCIENCES 40.00 X 163277 0 31867 DANNY TAYLOR RETIREE 40.00 X 364723 0 11457 CHARLES ACUFF COACH 40.00 X 298961 0 22716 STEPHEN HEFFINGTON ASST PROFESSOR 40.00 X 180416 0 26481 JEFFREY FOREHAND COACH 40.00 X 175068 0 25958 ROBERT G YOUNG ASSOCIATE DEAN OF PHARMACY 40.00 X 166823 0 25000 5278554 0 729136 136 0 1 0 AMERICAN CONSTRUCTORS INC PO BOX 120129 NASHVILLE TN 372120129 CONSTRUCTION 7042904 SOLOMON BUILDERS INC 4539 TROUSDALE DR NASHVILLE TN 372044513 CONSTRUCTION 6359885 SODEXO INC AND AFFILIATES PO BOX 360170 PITTSBURGH PA 152516170 FOOD SERVICE 4820573 FIRST AMERICAN EQUIPMENT FINANCE 1801 W OLYPMIC BLVD PASADENA CA 911990001 FINANCIAL SERVICES 1833537 ANTHOLOGY INC 5201 CONGRESS AVE BOCA RATON FL 33487 TECHONOLOGY 1613347 100 11455950 16772751 880554 28228701 TUITION AND FEES 611710 159059535 159059535 AUXILIARY REVENUE 611710 18603458 18603458 MISCELLANEOUS INCOME 611710 4861570 4925218 -63648 182524563 1004544 3968 1000576 23 23 2063885 775725 1288160 1288160 1517 1286643 31717554 784587 29171791 119147 2545763 665440 3211203 77965 3133238 216257194 182588211 19825 5420457 36763 36763 51728047 51728047 3447643 3447643 64498112 56155375 6238486 2104251 985149 868899 75441 40809 6841537 5598139 1239194 4204 4762295 3937534 673945 150816 133115 4455 127160 1500 72632 72632 330219 330219 3229964 2157025 853287 219652 2074266 1506700 376962 190604 8998646 4058412 4649335 290899 2803020 974760 1828260 2559292 2099161 458469 1662 1889825 1608027 227818 53980 822837 288435 532513 1889 7093291 5464130 1629161 10620261 8050340 2569921 8343241 6716927 1362225 264089 PLANT OPERATIONS 9578576 7277152 1836205 465219 FOOD SERVICE 4324127 4324127 STUDENT ASSISTANCE 2750262 2750262 MISCELLANEOUS 2516570 2631582 -115012 0 5829779 3317196 2283018 229565 206269469 171553448 30696882 4019139 6076453 12346171 21439713 0 29599966 28116466 14105669 14712281 1131245 1256047 427109352 136335507 261462738 290773845 368362 2410325 84593181 109329016 56424510 43855728 475201837 502799879 22976926 20875481 2582024 1248268 9454673 12280560 205318274 203952325 1700000 1700000 48420640 41227534 290452537 281284168 X 71421765 93778686 113327535 127737025 184749300 221515711 475201837 502799879 X 9987725 21305804 5472882 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 36667 0 0 36667 0 SCHEDULE C, PART II-B LIPSCOMB UNIVERSITY EMPLOYS ONE INDIVIDUAL WHOSE POSITION INCLUDES MEETING AND CORRESPONDING WITH THE STATE REPRESENTATIVES TO ADVOCATE FOR INCREASED FUNDING FOR THE ORGANIZATION IN THE STATE BUDGET. THE EMPLOYEE ALSO MEETS AND CORRESPONDS WITH LOCAL GOVERNMENT OFFICIALS TO INFLUENCE AGENDAS THAT ARE IMPORTANT TO THE UNIVERSITY. X X X 79700345 4637787 23242094 2721480 850561 104008185 82027830 1116854 1794871 2966158 2273052 79700345 85036837 3464849 -584504 2762404 3126948 82027830 79025131 3248324 6277943 2564561 950000 85036837 68759762 3765632 10082529 2332792 1250000 79025131 0.18262 0.81738 0 0 21212751 357233025 121494078 256951698 43638740 14841429 28797311 5024836 5024836 290773845 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 57974058 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 25479409 F INVESTMENTS - COMMON TRUST FUNDS 25875549 F 109329016 LIFE INSURANCE POLICIES 2323562 CASH FROM BOND PROCEEDS RESTRICTED FOR CAPITAL PROJECTS 9290992 OPERATING LEASE RIGHT-OF-USE ASSETS 5334092 FINANCE LEASE RIGHT-OF-USE ASSETS 26907082 43855728 ACCRUED PENSION BENEFIT LIABILITY 377615 ACCRUED POSTRETIREMENT BENEFIT OBLIGATION 6123991 FEDERAL STUDENT LOANS REFUNDABLE 1482884 OPERATING LEASE LIABILITIES 5452275 FINANCE LEASE LIABILITIES 27790769 41227534 X 191288274 21305804 4651328 25957132 165331142 330219 50595833 50926052 216257194 154521863 -465065 -465065 154986928 330219 50952322 51282541 206269469 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO PROVIDE FUNDS FOR PROFESSORSHIPS, CHAIRS AND SCHOLARSHIPS FOR STUDENTS AND GENERAL SUPPORT FOR OPERATIONS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE 501(C)(3) AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. THE UNIVERSITY RECOGNIZES THE TAX BENEFIT ASSOCIATED WITH A TAX POSITION TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE UNIVERSITY DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. IT IS THE UNIVERSITY'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. AS OF MAY 31, 2021, THE UNIVERSITY HAD ACCRUED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE UNIVERSITY IS GENERALLY SUBJECT TO U.S. FEDERAL AND TENNESSEE TAX EXAMINATION FOR THREE YEARS FROM THE DATE THE RETURN WAS FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT INC INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN -465,427. GAIN ON INTEREST RATE SWAP AGREEMENTS (UNREAL) UNREALIZED CHANGE IN CASH VALUE LIFE INS 63,614. ADJ OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE -406,516. ADJUSTMENTS OF ACTUARIAL LIABILITY FOR ANNUITIES LOSS ON FIXED ASSET DISPOSAL 362. PROGRAM EXPENSES NETTED WITH MISCELLANEOUS REVENUE ON F/S FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANEOUS REVENUE ON F/S ROUNDING 1. CONTRIBUTION OF NET ASSETS DUE TO MERGER 5,459,294. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 51,728,047. F/S INVESTMENT RECLASS 100,561. RENTAL EXP. NETTED W/ 990 REVENUE -775,725. CHANGE IN DEFINED BENEFIT RETIREMENT PLAN OBLIGATION -862,394. ADJUSTMENT OF RETIRMENT PLAN MINIMUM CONTRIBUTION 267,388. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION -78,342. ADJUSTMENT OF RETIREMENT PLAN CONTRIBUTION EXPENSE 216,298. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETUR LOSS ON FIXED ASSET DISPOSAL 362. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANEOUS REVENUE ON F/S PROGRAM EXPENSES NETTED WITH MISCELLANEOUS REVENUE ON F/S INVESTMENT INC INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN -465,427. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 51,728,047. F/S INVESTMENT RECLASS RENTAL EXP. NETTED W/ 990 REVENUE -775,725. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 LIPSCOMB UNIVERSITY PUBLISHES ITS NOTICE OF NONDISCRIMINATORY POLICY" IN BROCHURES, STUDENT HANDBOOKS, CATALOGS, ON THEIR WEBSITE AS WELL AS THEIR JOB POSTING ADS. SCHEDULE E, PART I, LINE 6 GOVERNMENT GRANTS TOTALED $11,455,950 FOR PERIOD ENDING MAY 31, 2021. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 3 1 PROGRAM SERVICES GLOBAL INSTRUCTION 150638 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 1 1 PROGRAM SERVICES GLOBAL INSTRUCTION 14534 EUROPE (INCLUDING ICELAND & GREENLAND) 3 1 PURCHASE OF REAL ESTATE GLOBAL INSTRUCTION 2850627 7 3 0 0 7 3 3015799 0 3015799 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 NASHVILLE AREA CHAMBER OF COMMERCE 211 COMMERCE STREET SUITE 100 NASHVILLE TN 37201 620304530 501(C)6 10000 SCHEDULED INVESTMENT MIDDLE TENNESSEE COUNCILBOY SCOUTS OF AMERICA 3414 HILLSBORO PIKE NASHVILLE TN 37215 620477729 501(C)3 5000 GIFT TO THE BOY SCOUTS OF AMERICA SCHOLARSHIPS 3740 51728047 FMV NONE PART I, LINE 2: LIPSCOMB UNIVERSITY HAS AN ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS AND AN ANNUAL AUDIT OF ITS FINANCIAL AID AWARDING PROCESS. IN ADDITION, FINANCIAL AID COUNSELORS ATTEND CONFERENCES AND TRAINING SESSIONS ON FINANCIAL AID AWARDING POLICIES, PROCEDURES, AND CONTROLS. X X X X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 RANDY R LOWRY III PRESIDENT 512233 0 0 0 26000 0 17688 0 97810 0 653731 0 0 0 DANNY TAYLOR RETIREE 358395 0 0 0 6328 0 6328 0 5129 0 376180 0 0 0 CHARLES ACUFF COACH 279913 0 0 0 19048 0 6223 0 16493 0 321677 0 0 0 THOMAS CAMPBELL DEAN OF COLLEGE OF PHARMACY 208301 0 0 0 15980 0 10629 0 15621 0 250531 0 0 0 JOHN R LOWRY SVP OF ADVANCEMENT 201304 0 0 0 18870 0 8806 0 17862 0 246842 0 0 0 R MICHAEL FERNANDEZ DEAN OF THE GEORGE SHINN COLLEGE OF 183010 0 0 0 8251 0 8167 0 17743 0 217171 0 0 0 CHARLES R ELDRIDGE DEAN OF COLLEGE OF BUSINESS 187345 0 0 0 19303 0 9651 0 396 0 216695 0 0 0 W CRAIG BLEDSOE PROVOST 183340 0 0 0 19500 0 8584 0 629 0 212053 0 0 0 MATT PADEN SVP OF ENROLLMENT & STUDENT ENGAGEME 172434 0 0 0 12765 0 7700 0 18462 0 211361 0 0 0 PARKER ELROD DEAN OF COLLEGE OF ENGINEERING 174629 0 0 0 26000 0 8367 0 629 0 209625 0 0 0 STEPHEN HEFFINGTON ASST PROFESSOR 167197 0 0 0 13219 0 8756 0 17725 0 206897 0 0 0 JEFFREY FOREHAND COACH 166307 0 0 0 8761 0 8167 0 17791 0 201026 0 0 0 PHILIP N HUTCHESON DIRECTOR OF ATHLETICS 149602 0 0 0 21079 0 7996 0 22005 0 200682 0 0 0 SUSAN C GALBREATH SVP FOR STRATEGY 146072 0 0 0 28167 0 7433 0 14256 0 195928 0 0 0 DAVID HOLMES DEAN OF THE COLLEGE OF LIBERAL ARTS 152777 0 0 0 10500 0 7000 0 24867 0 195144 0 0 0 ROBERT G YOUNG ASSOCIATE DEAN OF PHARMACY 157092 0 0 0 9731 0 7089 0 17911 0 191823 0 0 0 DAVID G WILSON GENERAL COUNSEL 144372 0 0 0 17379 0 7651 0 19573 0 188975 0 0 0 KEVIN EIDSON DIRECTOR OF HEALTH & WELLNESS 163959 0 0 0 0 0 0 0 19469 0 183428 0 0 0 CHRISTY HOOPER VP OF HUMAN RESOURCES 146610 0 0 0 7015 0 7015 0 19542 0 180182 0 0 0 DEBORAH BOYD DEAN OF COLLEGE OF EDUCATION 141261 0 0 0 8781 0 7232 0 15999 0 173273 0 0 0 DARRELL DUNCAN VP OF FINANCE 131601 0 0 0 7403 0 6705 0 17791 0 163500 0 0 0 BRAD SHULTZ HEAD OF SCHOOL 121202 0 0 0 16718 0 0 0 22131 0 160051 0 0 0 DAVE BRUNO VP OF MARKETING 122390 0 0 0 5075 0 6705 0 15892 0 150062 0 0 0 A LIPSCOMB UNIVERSITY 620485733 592041WB9 2016-02-24 62650000 SERIES 2016 A BONDS 0 0 0 B THE HEALTH AND EDUCATION BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 626139016 2019-04-03 110000000 SERIES 2019 A BONDS 0 0 0 C THE HEALTH AND EDUCATION BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 626139016 2019-04-03 20000000 SERIES 2019 B BONDS 0 0 0 A 3270000 62650000 849292 1 0 1 1 B 110000000 1075698 0 0 0 1 C 20000000 194562 0 0 0 0 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 0 C 0 RHONDA LOWRY PRESIDENT'S SPOUSE 66440 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 220174 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 24668 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 22500 RENTAL REAL PROPERTY 0 HARRIETTE SHIVERS EX-BOARD MEMBER 37800 RENTAL REAL PROPERTY 0 X 3000 X 36 837279 FMV AT DATE OF SALE X DUMP TRUCK SERVICES 1 40275 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 UNIVERSITY PRESIDENT RANDY LOWRY IS THE FATHER OF JOHN LOWRY VICE PRESIDENT FOR COMMUNITY & GOVERNMENT RELATIONS. FORM 990, PART VI, SECTION B, LINE 11B BOARD DELEGATES THIS RESPONSIBILITY TO THE AUDIT COMMITTEE OF THE BOARD. ONCE THE AUDIT COMMITTEE HAS APPROVED FORM 990, IT IS POSTED ON THE LIPSCOMB TRUSTEE WEBSITE PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C RELATED PARTY CONFIRMATIONS ARE REVIEWED AND FOLLOWED UP BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, AS WELL AS THE UNIVERSITY'S INDEPENDENT ACCOUNTING FIRM, LBMC, ON AN ANNUAL BASIS. ALSO, THE AUDIT COMMITTEE OF THE BOARD REVIEWS RELATED PARTY RELATIONSHIPS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD SETS THE PRESIDENT'S SALARY ANNUALLY BASED ON HIS CONTRACT. HIS INITIAL COMPENSATION WAS ESTABLISHED BASED ON A REVIEW OF MARKET DATA AND THE NEGOTIATION PROCESS. THIS SAME PROCESS OCCURS WITH OTHER OFFICERS AND KEY EMPLOYEES. SALARY POOL INCREASES ARE ALSO A COMPENENT OF ANNUAL COMPENSATION BASED ON APPROVED BUDGET FUNDING. FORM 990, PART VI, SECTION C, LINE 18 THE UNIVERSITY MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED - CHANGE IN CASH VALUE OF LIFE INSURANCE 63,614. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 78,342. ADJUSTMENTS OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE -406,516. CHANGE IN DEFINED BENEFIT RETIREMENT PLAN OBLIGATION 862,394. ADJUSTMENT FOR RETIREMENT PLAN MINIMUM CONTRIBUTION -267,388. ADJUSTMENT FOR RETIREMENT INCENTIVE PLAN EXPENSE -216,298. ADJUSTMENT TO ENDOWMENT DRAWS -100,561. ROUNDING 1. CONTRIBUTION OF NET ASSETS DUE TO MERGER 5,459,294. FORM 990, PART XIII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE PRIOR YEAR. LIPSCOMB-FLORENCE LLC 1 UNIVERSITY PARK DRIVE NASHVILLE TN 37204 HOLD REAL ESTATE TN 1000000 LIPSCOMB UNIVERSITY SE MUSIC STUDIO LLC 3100 BELMONT BLVD NASHVILLE TN 37212 MUSIC STUDIO TN 76479 322639 LIPSCOMB UNIVERSITY INSTITUTE FOR CHRISTIAN STUDIES 7640 GUADALUPE ST AUSTIN TX 78752 SEMINARY SCHOOL TX LIPSCOMB UNIVERSITY