LIBERTY UNIVERSITY INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- LIBERTY UNIVERSITY INC (EIN 54-0946734)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-05-16
- IRS object ID
- 202241369349311344
- Schema version
- 2020v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-05-16T14:24:10-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 Peachtree Street Suite 700 | AddressLine1Txt |
| City | ATLANTA | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 303094516 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540946734 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LIBERTY UNIVERSITY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % DR ROBERT RITZ | InCareOfNm |
| Business Name Control | LIBE | BusinessNameControlTxt |
| Phone | 4345924800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1971 UNIVERSITY BLVD | AddressLine1Txt |
| City | LYNCHBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24515 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR ROBERT RITZ | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 4345923237 | PhoneNum |
| Signature | 2022-05-16 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DR ROBERT | PersonFirstNm |
| Person Last | RITZ | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Sandra L Feinsmith | PreparerPersonNm |
| PTIN | P01064157 | PTIN |
| Phone | 4046886841 | PhoneNum |
| Preparation | 2022-05-16 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DR ROBERT RITZ | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1971 UNIVERSITY BLVD | AddressLine1Txt |
| City | LYNCHBURG | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24515 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $2,536,498,119 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.LIBERTY.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1972 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | LIBERTY UNIVERSITY, INC. IS A DISTINCTIVELY CHRISTIAN ACADEMIC COMMUNITY, WITH a MISSION of PROVIDING QUALITY COLLEGIATE EDUCATION training champions for christ. | ActivityOrMissionDesc |
| Voting Members Governing Body | 30 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 11573 | TotalEmployeeCnt |
| Total Volunteers | 9010 | TotalVolunteersCnt |
| Total Gross UBI | $4,081,596 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $570,346 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $16,444,061 | PYContributionsGrantsAmt |
| CY Contributions Grants | $44,452,653 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,309,847,537 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,407,719,569 | CYProgramServiceRevenueAmt |
| PY Investment Income | $13,759,215 | PYInvestmentIncomeAmt |
| CY Investment Income | $58,967,255 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,606,577 | PYOtherRevenueAmt |
| CY Other Revenue | $4,814,229 | CYOtherRevenueAmt |
| PY Total Revenue | $1,343,657,390 | PYTotalRevenueAmt |
| CY Total Revenue | $1,515,953,706 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $303,594,615 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $326,083,879 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $436,388,555 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $452,015,184 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $2,381,210 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $353,758,628 | PYOtherExpensesAmt |
| CY Other Expenses | $387,580,425 | CYOtherExpensesAmt |
| PY Total Expenses | $1,093,741,798 | PYTotalExpensesAmt |
| CY Total Expenses | $1,165,679,488 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $249,915,592 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $350,274,218 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,367,494,352 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,931,030,973 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $457,774,457 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $470,092,122 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,909,719,895 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $3,460,938,851 | NetAssetsOrFundBalancesEOYAmt |
| Mission | LIBERTY UNIVERSITY, INC. IS A DISTINCTIVELY CHRISTIAN ACADEMIC COMMUNITY, WITH a MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION training champions for Christ. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $878,983,849 | ExpenseAmt |
| Grant | $326,083,879 | GrantAmt |
| Revenue | $1,298,135,943 | RevenueAmt |
| Desc | INSTRUCTION OF APPROXIMATELY 128,656 STUDENTS IN UNDERGRADUATE, GRADUATE AND DOCTORAL PROGRAMS FOR BOTH THE ONLINE AND RESIDENTIAL PROGRAMS. SCHOLARSHIPS, GRANTS AND OTHER FINANCIAL ASSISTANCE ARE AWARDED TO ELIGIBLE STUDENTS BASED ON PROGRAM CRITERIA, WHICH INCLUDED SCHOLASTIC MERIT, ATHLETIC EXCELLENCE, ARTISTIC PERFORMANCE, FINANCIAL NEED, HIGH SCHOOL ATTENDED AND FIELD WORKED. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $163,009,711 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $112,948,232 | RevenueAmt |
| Desc | LIBERTY UNIVERSITY MAINTAINS A CAMPUS BOOKSTORE, HOUSING AND DINING FACILITIES, TRANSPORTATION SERVICES, ATHLETIC FACILITIES, BROADCASTING FACILITIES AND OTHER SUPPORT SERVICES AND FACILITIES ADDING TO THE STUDENT EXPERIENCE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $1,041,993,560 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (true) | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | Yes (true) | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (true) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | Yes (true) | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | Yes (true) | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | Yes (true) | PYExcessBenefitTransInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | Yes (true) | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (true) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (true) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (true) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | Yes (true) | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 1192 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 11573 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (true) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (true) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | true | Form8899Filedind |
| Form1098 C Filed | Yes (true) | Form1098CFiledInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (true) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 30 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | Yes (true) | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | false | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | CO | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NH | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | OR | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | SC | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | WA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR ROBERT RITZ | PersonNm |
| Phone | 4345924800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1971 UNIVERSITY BLVD | AddressLine1Txt |
| City | Lynchburg | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 24515 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (57 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Key EmployeeKeyEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Mr Jerry Falwell | ||||||||||
| Chancellor/President | 55.0 | 0.5 | Yes (X) | Yes (X) | $3,528,967 | $0 | $392,854 | |||
| Mr Hugh Freeze | ||||||||||
| Head Coach-Football | 55.0 | 0.0 | $2,033,545 | $0 | $38,440 | Yes (X) | ||||
| Mr Ritchie McKay | ||||||||||
| Head Coach-Men's Basketball | 55.0 | 0.0 | $1,087,484 | $0 | $38,735 | Yes (X) | ||||
| Mr Ian McCaw | ||||||||||
| Director of Athletics | 55.0 | 0.0 | $623,984 | $0 | $38,735 | Yes (X) | ||||
| Mr Ronald Kennedy | ||||||||||
| EVP of Enrollment & Marketing | 55.0 | 0.0 | $571,450 | $0 | $27,076 | Yes (X) | ||||
| Mr David Corry | ||||||||||
| General Counsel/Secretary | 55.0 | 0.0 | Yes (X) | $483,112 | $0 | $30,826 | ||||
| Dr Peter Bell | ||||||||||
| Dean, LU Coll. of Osteopathic | 55.0 | 0.0 | $439,499 | $0 | $34,940 | Yes (X) | ||||
| Dr Robert Ritz | ||||||||||
| CFO/TREASURER | 55.0 | 0.0 | Yes (X) | $419,246 | $0 | $31,485 | ||||
| Mr David Nasser | ||||||||||
| SR. VP OF SPIR DEV | 55.0 | 0.0 | $413,761 | $0 | $32,735 | Yes (X) | ||||
| Ms Laura Wallace | ||||||||||
| EVP for Human Resources | 55.0 | 0.0 | $413,198 | $0 | $19,826 | Yes (X) | ||||
| Dr Mark Horstemeyer | ||||||||||
| Dean, School of Engineering | 55.0 | 0.0 | $328,729 | $0 | $28,690 | Yes (X) | ||||
| mr carey green | ||||||||||
| head coach, womens basketball | 55.0 | 0.0 | $328,677 | $0 | $22,687 | Yes (X) | ||||
| Mr Turner Gill | ||||||||||
| EVP OF DIVERSITY, DEVELOPMENT | 55.0 | 0.0 | $331,089 | $0 | $8,354 | Yes (X) | ||||
| Mr Randall Smith | ||||||||||
| Former Officer | 1.0 | 0.0 | $309,940 | $0 | $25,572 | Yes (X) | ||||
| Mr John Gauger | ||||||||||
| CHIEF INFORMATION OFFICER | 55.0 | 0.0 | $252,748 | $0 | $24,551 | Yes (X) | ||||
| Mr Don Moon | ||||||||||
| SVP Finance & Investment Mgmt | 55.0 | 2.0 | Yes (X) | $258,676 | $0 | $17,348 | ||||
| Dr Scott Hicks | ||||||||||
| Provost & Chief Acad. Officer | 55.0 | 0.0 | Yes (X) | $262,986 | $0 | $10,952 | ||||
| Dr Shawn Akers | ||||||||||
| Online Provost | 55.0 | 0.0 | Yes (X) | $257,241 | $0 | $0 | ||||
| Mr Charles Spence | ||||||||||
| Sr. VP of Facilities Mgmt | 55.0 | 0.5 | $235,890 | $0 | $21,275 | Yes (X) | ||||
| mr craig pettit | ||||||||||
| VP of Real Estate Management | 55.0 | 0.0 | $234,947 | $0 | $20,781 | Yes (X) | ||||
| Dr Jerry Prevo | ||||||||||
| Trustee/President | 55.0 | 0.0 | Yes (X) | Yes (X) | $240,068 | $0 | $9,856 | |||
| mr daniel deter | ||||||||||
| VP of major construction | 55.0 | 0.0 | $217,847 | $0 | $22,576 | Yes (X) | ||||
| Mr Daniel Applewhite | ||||||||||
| Deputy Gen. Counsel/Asst. Secy | 55.0 | 0.0 | Yes (X) | $212,745 | $0 | $23,466 | ||||
| Mrs Cindy Gaebe | ||||||||||
| VP of Finance & Administration | 50.0 | 5.0 | $213,958 | $0 | $12,076 | Yes (X) | ||||
| Dr Lawrence Hine | ||||||||||
| Senior VP of Student Affairs | 45.0 | 10.0 | $195,574 | $0 | $18,861 | Yes (X) | ||||
| Mr Trey Falwell | ||||||||||
| VP of University Operations | 55.0 | 0.0 | $197,164 | $0 | $16,325 | Yes (X) | ||||
| Mr Chris Johnson | ||||||||||
| Former Key Employee | 40.0 | 0.0 | $127,952 | $0 | $15,805 | Yes (X) | ||||
| Dr Ronald Hawkins | ||||||||||
| Former Officer | 25.0 | 0.0 | $128,007 | $0 | $15,383 | Yes (X) | ||||
| Mr Anthony Beckles | ||||||||||
| Trustee/Online Chair | 55.0 | 2.0 | Yes (X) | $86,178 | $0 | $9,217 | ||||
| Pastor Jonathan Falwell | ||||||||||
| Trustee/Vice Chancellor of Spi | 9.0 | 2.0 | Yes (X) | $67,885 | $0 | $0 | ||||
| Mr Gilbert Tinney Jr | ||||||||||
| Trustee | 7.0 | 0.0 | Yes (X) | $43,118 | $0 | $0 | ||||
| Dr John Borek Jr | ||||||||||
| Trustee & Adjunct Professor | 5.0 | 0.0 | Yes (X) | $33,400 | $0 | $0 | ||||
| Mr Chris Rhodenhizer | ||||||||||
| Trustee | 2.0 | 0.0 | Yes (X) | $15,703 | $0 | $0 | ||||
| Dr Don Crain | ||||||||||
| Trustee | 3.0 | 0.0 | Yes (X) | $12,620 | $0 | $0 | ||||
| Mr Jeffery S Yager | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $12,045 | $0 | $0 | ||||
| Dr David Rhodenhizer | ||||||||||
| Trustee | 7.0 | 0.0 | Yes (X) | $10,845 | $0 | $0 | ||||
| Mrs Angela Jordan | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $10,200 | $0 | $0 | ||||
| Dr Dwight Reighard | ||||||||||
| Trustee | 3.0 | 0.0 | Yes (X) | $5,503 | $0 | $0 | ||||
| Dr Allen McFarland | ||||||||||
| Trustee & Adjunct Professor | 4.0 | 0.0 | Yes (X) | $3,200 | $0 | $0 | ||||
| Mr Brian Autry | ||||||||||
| Trustee | 2.0 | 0.0 | Yes (X) | $645 | $0 | $0 | ||||
| Mr Jeffrey F Benson | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr John Heath | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr Carroll Hudson | ||||||||||
| Trustee | 7.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Evangelist Tim Lee | ||||||||||
| Trustee | 7.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr Richard Lee | ||||||||||
| Trustee | 3.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Dr Gene Mims | ||||||||||
| Trustee | 2.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr Richard Osborne | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr Galen Peel Sr | ||||||||||
| Trustee | 2.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr Steven A Snyder | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mr Will Tinney | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Dr Jerry Vines | ||||||||||
| Trustee | 7.0 | 0.0 | Yes (X) | $145 | $0 | $0 | ||||
| Mrs Gaye Overton Benson | ||||||||||
| Trustee | 3.0 | 0.0 | Yes (X) | $95 | $0 | $0 | ||||
| Ms Penny Nance | ||||||||||
| Trustee | 3.0 | 0.0 | Yes (X) | $95 | $0 | $0 | ||||
| Mr Harvey Gainey | ||||||||||
| Trustee | 8.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||||
| Evangelist William F Graham | ||||||||||
| Trustee | 5.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||||
| Mr Harold Rawlings | ||||||||||
| Trustee | 2.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||||
| Mr Duke Westover | ||||||||||
| Trustee | 4.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $13,895,361 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $952,697 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 537 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Construction Management Associates | |||||
| PO Box 3020 | LYNCHBURG | VA | 24503 | construction | $27,045,962 |
| Google Inc | |||||
| 1600 Amphitheatre Pkwy | MOUNTAIN VIEW | CA | 94043 | Admissions Lead Gen. | $25,970,547 |
| Sodexo Inc Affiliates-Liberty Uni | |||||
| PO Box 360170 | PITTSBURGH | PA | 15251 | food service | $23,388,878 |
| James R Vannoy Sons Constn Co In | |||||
| 631 McGee Rd | ANDERSON | SC | 29625 | construction | $10,439,829 |
| HMS Holdings LTP Hendrick Motorspo | |||||
| 4400 Papa Joe Hendrick Blvd | CHARLOTTE | NC | 282625703 | branding initiative | $5,780,268 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 217 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $30,000 | RelatedOrganizationsAmt |
| Government Grants | $33,622,310 | GovernmentGrantsAmt |
| All Other Contributions | $10,800,343 | AllOtherContributionsAmt |
| Noncash Contributions | $444,077 | NoncashContributionsAmt |
| Total Contributions | $44,452,653 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| TUITION AND FEES | 611710 | $1,298,135,943 | $1,298,135,943 | |
| ROOM & BOARD | 611710 | $84,028,302 | $82,142,011 | $1,886,291 |
| STUDENT FEES | 611710 | $15,182,522 | $15,182,522 | |
| STUDENT ACTIVITIES | 611710 | $7,415,759 | $7,415,759 | |
| BOOKSTORE/CONCESSIONS | 611710 | $2,957,043 | $2,957,043 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,407,719,569 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $16,206,610 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $436,840 | UnrelatedBusinessRevenueAmt |
| Exclusion | $15,769,770 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $318,462 | TotalRevenueColumnAmt |
| Exclusion | $318,462 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $11,016,051 | RealAmt |
| Personal | $128,761 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $13,594,379 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$2,578,328 | RealAmt |
| Personal | $128,761 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$2,449,567 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $128,761 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$2,578,328 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,047,735,932 | SecuritiesAmt |
| Other | $1,948,564 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,004,924,446 | SecuritiesAmt |
| Other | $1,999,405 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $42,811,486 | SecuritiesAmt |
| Other | -$50,841 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $42,760,645 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$50,841 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $42,811,486 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $40,075 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $26,183 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,892 | TotalRevenueColumnAmt |
| Exclusion | $13,892 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| OTHER INCOME | 611710 | $5,214,598 | $3,687,292 | $1,527,306 |
| STUDENT TRAVEL FEES | 561500 | $983,529 | $983,529 | |
| SPONSORSHIPS/ADVERTISING | 511120 | $733,315 | $630,917 | $102,398 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $6,931,442 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,515,953,706 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,411,084,175 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $4,081,596 | UnrelatedBusinessRevenueAmt |
| Exclusion | $56,335,282 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,313,518 | TotalAmt |
| Program Services | $1,313,518 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $324,770,361 | TotalAmt |
| Program Services | $324,770,361 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,287,674 | TotalAmt |
| Program Services | $6,789,865 | ProgramServicesAmt |
| Management And General | $3,497,809 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,379,288 | TotalAmt |
| Program Services | $1,570,330 | ProgramServicesAmt |
| Management And General | $808,958 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $351,899,230 | TotalAmt |
| Program Services | $316,647,747 | ProgramServicesAmt |
| Management And General | $33,929,456 | ManagementAndGeneralAmt |
| Fundraising | $1,322,027 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,501,864 | TotalAmt |
| Program Services | $6,870,733 | ProgramServicesAmt |
| Management And General | $1,578,638 | ManagementAndGeneralAmt |
| Fundraising | $52,493 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,612,533 | TotalAmt |
| Program Services | $40,442,663 | ProgramServicesAmt |
| Management And General | $11,828,448 | ManagementAndGeneralAmt |
| Fundraising | $341,422 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,334,595 | TotalAmt |
| Program Services | $21,670,009 | ProgramServicesAmt |
| Management And General | $4,566,479 | ManagementAndGeneralAmt |
| Fundraising | $98,107 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,820,358 | TotalAmt |
| Program Services | $5,023 | ProgramServicesAmt |
| Management And General | $6,815,335 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $298,286 | TotalAmt |
| Management And General | $298,286 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $301,033 | TotalAmt |
| Management And General | $301,033 | ManagementAndGeneralAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,483,602 | TotalAmt |
| Management And General | $6,483,602 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,781,551 | TotalAmt |
| Program Services | $4,497,633 | ProgramServicesAmt |
| Management And General | $1,283,229 | ManagementAndGeneralAmt |
| Fundraising | $689 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,049,456 | TotalAmt |
| Program Services | $11,776,183 | ProgramServicesAmt |
| Management And General | $7,135,389 | ManagementAndGeneralAmt |
| Fundraising | $137,884 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,145,026 | TotalAmt |
| Program Services | $4,201,709 | ProgramServicesAmt |
| Management And General | $1,878,384 | ManagementAndGeneralAmt |
| Fundraising | $64,933 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,331,406 | TotalAmt |
| Program Services | $36,608,467 | ProgramServicesAmt |
| Management And General | $8,709,610 | ManagementAndGeneralAmt |
| Fundraising | $13,329 | FundraisingAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $468,852 | TotalAmt |
| Program Services | $334,524 | ProgramServicesAmt |
| Management And General | $134,328 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,999,034 | TotalAmt |
| Program Services | $11,712,425 | ProgramServicesAmt |
| Management And General | $1,286,609 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,222,375 | TotalAmt |
| Program Services | $6,994,734 | ProgramServicesAmt |
| Management And General | $1,158,876 | ManagementAndGeneralAmt |
| Fundraising | $68,765 | FundraisingAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $395,959 | TotalAmt |
| Program Services | $310,428 | ProgramServicesAmt |
| Management And General | $85,332 | ManagementAndGeneralAmt |
| Fundraising | $199 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,149,676 | TotalAmt |
| Program Services | $5,729,345 | ProgramServicesAmt |
| Management And General | $420,331 | ManagementAndGeneralAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,533,499 | TotalAmt |
| Program Services | $50,669,457 | ProgramServicesAmt |
| Management And General | $2,864,042 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,837,441 | TotalAmt |
| Program Services | $653,059 | ProgramServicesAmt |
| Management And General | $4,184,382 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| PURCHASED SERVICES | $101,064,850 | $104,263,170 | -$3,287,510 | $89,190 |
| STUDENT FOOD SERVICES | $26,225,472 | $26,146,327 | $44,554 | $34,591 |
| SUPPLIES | $14,501,295 | $12,071,511 | $2,387,779 | $42,005 |
| NON CAPITAL EQUIPMENT | $12,161,188 | $14,299,877 | -$2,156,899 | $18,210 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,810,066 | TotalAmt |
| Program Services | $31,644,462 | ProgramServicesAmt |
| Management And General | $25,068,238 | ManagementAndGeneralAmt |
| Fundraising | $97,366 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,165,679,488 | TotalAmt |
| Program Services | $1,041,993,560 | ProgramServicesAmt |
| Management And General | $121,304,718 | ManagementAndGeneralAmt |
| Fundraising | $2,381,210 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,348,502 | BOYAmt |
| EOY | $13,659,158 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $320,307,379 | BOYAmt |
| EOY | $391,616,347 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,500 | BOYAmt |
| EOY | $416,840 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,954,320 | BOYAmt |
| EOY | $33,607,320 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $273,274 | BOYAmt |
| EOY | $859,690 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,269,676 | BOYAmt |
| EOY | $5,631,215 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $697,675 | BOYAmt |
| EOY | $1,340,347 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,826,134 | BOYAmt |
| EOY | $14,438,353 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,911,629,554 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $461,095,495 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,419,694,279 | BOYAmt |
| EOY | $1,450,534,059 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $627,288,983 | BOYAmt |
| EOY | $860,248,918 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $903,225,308 | BOYAmt |
| EOY | $1,135,515,033 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,220,890 | BOYAmt |
| EOY | $14,199,070 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,317,769 | BOYAmt |
| EOY | $1,235,245 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,062,663 | BOYAmt |
| EOY | $7,729,378 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,367,494,352 | BOYAmt |
| EOY | $3,931,030,973 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $88,680,388 | BOYAmt |
| EOY | $84,372,367 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $141,750,772 | BOYAmt |
| EOY | $160,581,155 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $197,589,939 | BOYAmt |
| EOY | $194,994,010 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,753,358 | BOYAmt |
| EOY | $30,144,590 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $457,774,457 | BOYAmt |
| EOY | $470,092,122 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,886,771,669 | BOYAmt |
| EOY | $3,429,256,394 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,948,226 | BOYAmt |
| EOY | $31,682,457 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,909,719,895 | BOYAmt |
| EOY | $3,460,938,851 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,367,494,352 | BOYAmt |
| EOY | $3,931,030,973 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $350,274,218 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $189,413,332 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $11,531,406 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $277,608 | FilingOrganizationsTotalAmt |
Total Direct Lobbying TotalDirectLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $23,425 | FilingOrganizationsTotalAmt |
Total Lobbying Expend TotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $301,033 | FilingOrganizationsTotalAmt |
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $1,165,378,455 | FilingOrganizationsTotalAmt |
Total Exempt Purpose Expend TotalExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $1,165,679,488 | FilingOrganizationsTotalAmt |
Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $1,000,000 | FilingOrganizationsTotalAmt |
Grassroots Nontaxable GrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $250,000 | FilingOrganizationsTotalAmt |
Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $27,608 | FilingOrganizationsTotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Lbby Expend Mns Lbbyng Non Tx | TotLbbyExpendMnsLbbyngNonTxGrp | |
| Form4720 Filed | Yes (true) | Form4720FiledInd |
Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $1,000,000 | CurrentYearMinus3Amt |
| Current Year Minus2 | $1,000,000 | CurrentYearMinus2Amt |
| Current Year Minus1 | $1,000,000 | CurrentYearMinus1Amt |
| Current Year | $1,000,000 | CurrentYearAmt |
| Total | $4,000,000 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $6,000,000 | LobbyingCeilingAmt |
Avg Total Lobbying Expend AvgTotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $58,142 | CurrentYearMinus3Amt |
| Current Year Minus2 | $170,385 | CurrentYearMinus2Amt |
| Current Year Minus1 | $88,120 | CurrentYearMinus1Amt |
| Current Year | $301,033 | CurrentYearAmt |
| Total | $617,680 | TotalAmt |
Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $250,000 | CurrentYearMinus3Amt |
| Current Year Minus2 | $250,000 | CurrentYearMinus2Amt |
| Current Year Minus1 | $250,000 | CurrentYearMinus1Amt |
| Current Year | $250,000 | CurrentYearAmt |
| Total | $1,000,000 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,500,000 | GrassrootsCeilingAmt |
Avg Grassroots Lobbying Expend AvgGrassrootsLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus1 | $32,838 | CurrentYearMinus1Amt |
| Current Year | $277,608 | CurrentYearAmt |
| Total | $310,446 | TotalAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Coll Used Scholarly Rsrch | Yes (X) | CollUsedScholarlyRsrchInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
Collection Used Other Purposes CollectionUsedOtherPurposesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Other Purposes | Yes (X) | CollectionUsedOtherPurposesInd |
| Other Purposes | DISPLAY IN University buildings | OtherPurposesDesc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Solicited Assets Sale | false | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,714,462,564 | BeginningYearBalanceAmt |
| Contributions | $216,931,978 | ContributionsAmt |
| Investment Earnings Or Losses | $225,222,906 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $18,852 | OtherExpendituresAmt |
| End Year Balance | $2,156,598,596 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,587,918,559 | BeginningYearBalanceAmt |
| Contributions | $157,959,701 | ContributionsAmt |
| Investment Earnings Or Losses | -$31,375,007 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $40,689 | OtherExpendituresAmt |
| End Year Balance | $1,714,462,564 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,432,964,225 | BeginningYearBalanceAmt |
| Contributions | $106,431,660 | ContributionsAmt |
| Investment Earnings Or Losses | $48,522,694 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $20 | OtherExpendituresAmt |
| End Year Balance | $1,587,918,559 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,290,702,848 | BeginningYearBalanceAmt |
| Contributions | $90,835,204 | ContributionsAmt |
| Investment Earnings Or Losses | $52,095,842 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $669,669 | OtherExpendituresAmt |
| End Year Balance | $1,432,964,225 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,082,996,068 | BeginningYearBalanceAmt |
| Contributions | $198,368,872 | ContributionsAmt |
| Investment Earnings Or Losses | $74,241,805 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,638 | GrantsOrScholarshipsAmt |
| Other Expenditures | $64,902,259 | OtherExpendituresAmt |
| End Year Balance | $1,290,702,848 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.99060 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.00740 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.00200 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | false | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $81,066,202 | OtherCostOrOtherBasisAmt |
| Book Value | $81,066,202 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,369,774,215 | OtherCostOrOtherBasisAmt |
| Depreciation | $237,908,836 | DepreciationAmt |
| Book Value | $1,131,865,379 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Leasehold Improvements | LeaseholdImprovementsGrp |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $261,581,444 | OtherCostOrOtherBasisAmt |
| Depreciation | $182,385,333 | DepreciationAmt |
| Book Value | $79,196,111 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $199,207,693 | OtherCostOrOtherBasisAmt |
| Depreciation | $40,801,326 | DepreciationAmt |
| Book Value | $158,406,367 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,450,534,059 | TotalBookValueLandBuildingsAmt |
| Financial Derivatives | FinancialDerivativesGrp | |
| Closely Held Equity Interests | CloselyHeldEquityInterestsGrp |
Other Securities OtherSecuritiesGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PUBLICLY TRADED EQUITIES | $241,071,468 | F |
| TRADITION FIXED INCOME | $556,351,212 | F |
| HEDGE FUNDS | $199,574,919 | F |
| PRIVATE EQUITY/VENTURE CAPITAL | $49,129,059 | F |
| COMMODITIES/OTHER ALTERNATIVES | $89,388,375 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $1,135,515,033 | TotalBookValueSecuritiesAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| GIFT ANNUITIES PAYABLE | $27,420,466 |
| OBLIGATIONS UNDER CAPITAL LEASES | $2,000,028 |
| AGREEMENT | $751,930 |
| DUE TO/FROM FA FROM C&C AVIATION | -$27,834 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $30,144,590 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $1,401,632,694 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $189,413,332 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $1,646,040 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | $11,318,750 | OtherRevenueAmt |
| Revenue Not Reported | $202,378,122 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,199,254,572 | RevenueSubtotalAmt |
| Other Revenues Not Included | $316,699,134 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $316,699,134 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,515,953,706 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $850,413,738 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $1,646,040 | DonatedServicesUseFcltsAmt |
| Other Expenses Included | -$212,656 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $1,433,384 | ExpensesNotReportedAmt |
| Expenses Subtotal | $848,980,354 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $316,699,134 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $316,699,134 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,165,679,488 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part III, Line 4: | LIBERTY UNIVERSITY HAS A COLLECTION OF DONATED ANIMAL TROPHIES AND A COLLECTION OF DONATED PAINTINGS. THE COLLECTIONS ARE DISPLAYED WITHIN THE UNIVERSITY'S FACILITIES FOR THE EDUCATION AND ENJOYMENT OF STUDENTS AND VISITORS. THERE IS NO ADMISSION CHARGE FOR VIEWING THE COLLECTIONS AND LIBERTY UNIVERSITY DOES NOT ADVERTISE THAT THE COLLECTIONS ARE OPEN TO THE GENERAL PUBLIC. |
| Part V, Line 4: | THE UNIVERSITY HAS ADOPTED DONOR-RESTRICTED ENDOWMENT AND QUASI-ENDOWMENT SPENDING POLICIES TO HELP ENSURE THE CONTINUED VIABILITY OF ENDOWMENT FUNDS AND TO PRESERVE THE LONG-TERM PURCHASING POWER OF ENDOWMENT FUNDS. INVESTMENT RETURNS ARE ACHIEVED THROUGH CAPITAL APPRECIATION (REALIZED AND UNREALIZED), CURRENT YIELD (INTEREST AND DIVIDENDS), AND NET INCOME ON ENDOWED SUBSIDIARIES. THE UNIVERSITY HAS A DIVERSIFIED ASSET ALLOCATION THAT PLACES EMPHASIS ON INVESTMENTS IN EQUITIES AND ABSOLUTE RETURN STRATEGIES TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE BOARD-APPROVED SPENDING FORMULA FOR THE DONOR RESTRICTED ENDOWMENT PROVIDES FOR SPENDING THE LESSER OF 3% OF THE ORIGINAL GIFT, INCLUDING EARNINGS RETURNED TO PRINCIPLE AS OF THE PRIOR YEAR END, OR HISTORIC ACCUMULATED EARNINGS DISTRIBUTED TO THE ENDOWMENT FUND. Part VII Investments-Other Securities Method of valuation is Net Asset Value |
| Part XI, Line 2D - Other Adjustments | Rent Expenses 13,594,379 Tax adjustment for subs filing separate returns 24,673,062 Fundraising 26,183 ASU Investment adjustment (32,022,698) Change in split interest 11,531,406 Investment expenses (6,483,582) TOTAL TO PART XI, LINE 2D 11,318,750 |
| Part XI, Line 4B - Other Adjustments | INSTITUTIONAL SCHOLARSHIPS 316,699,134 TOTAL TO Part XI, LINE 4B 316,699,134 |
| Part XII, Line 2D - Other Adjustments | Rent Expenses 13,594,379 Tax adjustment for subs filing separate returns 24,673,062 Fundraising 26,183 ASU Investment adjustment (32,022,698) Investment expenses (6,483,582) TOTAL TO PART XII, Line 2d (212,656) |
| Part XII, Line 4B - Other Adjustments | INSTITUTIONAL SCHOLARSHIPS 316,699,134 TOTAL TO Part XII, Line 4b 316,699,134 |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (true) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (true) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (true) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (true) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (true) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (true) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (true) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (true) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule E, Line 3 | EXPLANATION OF NONDISCRIMINATION POLICY: LIBERTY UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE, AND FOLLOWS A RACIALLY NON-DISCRIMINATORY POLICY AS TO STUDENTS. THIS POLICY IS ONLINE WITH LINKS AT THE BOTTOM OF VIRTUALLY EVERY UNIVERSITY WEBPAGE AND IN ALL THE BROCHURES AND CATALOGS DEALING WITH ADMISSION AND SCHOLARSHIPS. |
| Schedule E, Line 6 | EXPLANATION OF GOVERNMENT FINANCIAL AID: LIBERTY UNIVERSITY PROCESSES AND DISTRIBUTES FEDERAL AND STATE FINANCIAL AID IN THE FORM OF GRANTS, LOANS, AND SCHOLARSHIPS TO STUDENTS TO HELP WITH EDUCATION-RELATED EXPENSES. SUCH STUDENT FINANCIAL AID IS AWARDED ON THE BASIS OF FINANCIAL NEED BASED ON PRESCRIBED GOVERNMENTAL FORMULAS. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (6 entries)
| RegionRegionTxt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt | Specific Services ProvidedSpecificServicesProvidedTxt |
|---|---|---|---|
| Central America and the Caribbean | Investments | $67,829,903 | |
| South America | Program Services | $58,993 | mission trip/study abr |
| Sub-Saharan Africa | Program Services | $100,252 | mission trip/study abr |
| East Asia and the Pacific | Program Services | $14,936 | mission trip/study abr |
| North America | Program Services | $175 | distance learning |
| Central America and the Caribbean | Program Services | $200 | distance learning |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Spent | $68,004,459 | SubtotalSpentAmt |
| Total Spent | $68,004,459 | TotalSpentAmt |
| Transfer To Foreign Corp | false | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (true) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (true) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (true) | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | Athletic Golf | Event1Nm |
| Gross Receipts Event1 | $40,075 | GrossReceiptsEvent1Amt |
| Gross Revenue Event1 | $40,075 | GrossRevenueEvent1Amt |
| Non Cash Prizes Event1 | $15,623 | NonCashPrizesEvent1Amt |
| Rent Facility Costs Event1 | $6,800 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $1,204 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $2,556 | OtherDirectExpensesEvent1Amt |
| Other Events Total | 0 | OtherEventsTotalCnt |
| Gross Receipts Total | $40,075 | GrossReceiptsTotalAmt |
| Gross Revenue Total Events | $40,075 | GrossRevenueTotalEventsAmt |
| Non Cash Prizes Total Events | $15,623 | NonCashPrizesTotalEventsAmt |
| Rent Fclty Costs Total Events | $6,800 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $1,204 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $2,556 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $26,183 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $13,892 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (14 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc |
|---|---|---|---|---|---|---|---|---|---|---|
| Baptist Bible Fellowship Internatio | ||||||||||
| 720 East Kearney St | Springfield | MO | 65803 | 440610111 | 501(c)(3) | $65,000 | Billingsley Arab Christian ministries | |||
| Camp Bahamas Missions CBM Inc | ||||||||||
| 1116 Moseley Dr | Lynchburg | VA | 245021708 | 843830751 | 501(c)(3) | $45,000 | supportive christian organization | |||
| Central Missionary Clearinghouse | ||||||||||
| PO Box 219228 | Houston | TX | 772189228 | 510138300 | 501(c)(3) | $160,000 | global surge efforts | |||
| Gospel Community Church | ||||||||||
| 1301 Rivermont Ave | Lynchburg | VA | 245041006 | 271747109 | 501(c)(3) | supportive christian organization | $12,476 | cost | furniture | |
| Gainey Foundation | ||||||||||
| 1593 Galbraith Ave | Grand Rapids | MI | 49546 | 912025454 | 501(c)(3) | $50,000 | supportive christian organization | |||
| Hillside Baptist Church | ||||||||||
| 8366 W State | Springfield | MO | 658028742 | 421696045 | 501(c)(3) | $68,200 | Dr Jack Baskin initiative | |||
| Hope of Life International | ||||||||||
| PO Box 29158 | Providence | RI | 029090998 | 262061324 | 501(c)(3) | $50,000 | supportive christian organization | |||
| Hope Partners International | ||||||||||
| PO Box55056 | Saint Petersburg | FL | 337325056 | 237088912 | 501(c)(3) | $200,000 | supportive christian organization | |||
| Image Church | ||||||||||
| 13900 Church Hill | Woodbridge | VA | 221912131 | 043849085 | 501(c)(3) | $25,000 | supportive christian organization | |||
| Jay Lowder Harvest Ministries Inc | ||||||||||
| PO Box 9543 | Wichita Falls | TX | 76308 | 752904331 | 501(c)(3) | $50,000 | supportive christian organization | |||
| Jerry Vines Ministries | ||||||||||
| 202 Pheasant Hills Ct | Canton | GA | 30114 | 204857233 | 501(c)(3) | $100,000 | supportive christian organization | |||
| Samaritan's Purse | ||||||||||
| PO Box 3000 | Boone | NC | 286078721 | 581437002 | 501(c)(3) | $200,050 | supportive christian organization | |||
| Tim Lee Ministries | ||||||||||
| PO Box 461674 | Garland | TX | 750461674 | 731268199 | 501(c)(3) | $100,000 | supportive christian organization | |||
| Free Clinic of Central VA | ||||||||||
| 1016 Main St | Lynchburg | VA | 24504 | 541420756 | 501(c)(3) | community support | $8,415 | COST | Furniture | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 14 | Total501c3OrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (3 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| Missionary Assistance | 40 | $97,695 |
| Benevolence | 19 | $51,730 |
| Institutional Scholarships | 97442 | $301,385,938 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part IV | FormAndLineReferenceDesc |
| Explanation | Schedule I, Part I, Line 2 DONATIONS ARE MADE TO NONPROFIT ORGANIZATIONS WHOSE PURPOSES ARE CONSISTENT WITH THE RELIGIOUS AND EDUCATIONAL PURPOSES OF LIBERTY UNIVERSITY. Schedule I, Part III, Column B GOVERNMENT FUNDED SCHOLARSHIPS FOR STUDENTS ARE MADE BASED ON FINANCIAL NEED AS PRESCRIBED BY FEDERAL AND STATE REGULATIONS. PRIVATE AND INSTITUTION FUNDED SCHOLARSHIPS ARE AWARDED BASED ON PROGRAM CRITERIA, WHICH INCLUDED SCHOLASTIC MERIT, ATHLETIC EXCELLENCE, ARTISTIC PERFORMANCE, FINANCIAL NEED, HIGH SCHOOL ATTENDED, AND FIELD WORKED. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (true) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (28 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mr Jerry Falwell | ||||||||||||||
| Chancellor/President | $830,364 | $0 | $100,000 | $0 | $2,598,603 | $0 | $385,000 | $0 | $7,854 | $0 | $3,921,821 | $0 | $0 | $0 |
| Dr Jerry Prevo | ||||||||||||||
| Trustee/President | $197,116 | $0 | $0 | $0 | $42,952 | $0 | $9,856 | $0 | $0 | $0 | $249,924 | $0 | $0 | $0 |
| Mr David Corry | ||||||||||||||
| General Counsel/Secretary | $371,862 | $0 | $111,250 | $0 | $0 | $0 | $18,750 | $0 | $12,076 | $0 | $513,938 | $0 | $0 | $0 |
| Mr Daniel Applewhite | ||||||||||||||
| Deputy Gen. Counsel/Asst. Secy | $206,211 | $0 | $6,534 | $0 | $0 | $0 | $10,731 | $0 | $12,735 | $0 | $236,211 | $0 | $0 | $0 |
| Dr Scott Hicks | ||||||||||||||
| Provost & Chief Acad. Officer | $245,986 | $0 | $0 | $0 | $17,000 | $0 | $10,661 | $0 | $291 | $0 | $273,938 | $0 | $0 | $0 |
| Mr Don Moon | ||||||||||||||
| SVP Finance & Investment Mgmt | $251,163 | $0 | $7,513 | $0 | $0 | $0 | $12,522 | $0 | $4,826 | $0 | $276,024 | $0 | $0 | $0 |
| Dr Robert Ritz | ||||||||||||||
| CFO/TREASURER | $365,996 | $0 | $11,250 | $0 | $42,000 | $0 | $18,750 | $0 | $12,735 | $0 | $450,731 | $0 | $0 | $0 |
| Mr Randall Smith | ||||||||||||||
| Former Officer | $309,940 | $0 | $0 | $0 | $0 | $0 | $15,750 | $0 | $9,822 | $0 | $335,512 | $0 | $0 | $0 |
| Dr Shawn Akers | ||||||||||||||
| Online Provost | $232,441 | $0 | $0 | $0 | $24,800 | $0 | $0 | $0 | $0 | $0 | $257,241 | $0 | $0 | $0 |
| Mr Trey Falwell | ||||||||||||||
| VP of University Operations | $197,164 | $0 | $0 | $0 | $0 | $0 | $9,750 | $0 | $6,575 | $0 | $213,489 | $0 | $0 | $0 |
| Mr John Gauger | ||||||||||||||
| CHIEF INFORMATION OFFICER | $245,263 | $0 | $7,485 | $0 | $0 | $0 | $12,475 | $0 | $12,076 | $0 | $277,299 | $0 | $0 | $0 |
| Dr Lawrence Hine | ||||||||||||||
| Senior VP of Student Affairs | $189,427 | $0 | $6,000 | $0 | $147 | $0 | $9,505 | $0 | $9,356 | $0 | $214,435 | $0 | $0 | $0 |
| Mr Ronald Kennedy | ||||||||||||||
| EVP of Enrollment & Marketing | $296,250 | $0 | $250,000 | $0 | $25,200 | $0 | $15,000 | $0 | $12,076 | $0 | $598,526 | $0 | $0 | $0 |
| Mr Ian McCaw | ||||||||||||||
| Director of Athletics | $597,599 | $0 | $9,000 | $0 | $17,385 | $0 | $26,000 | $0 | $12,735 | $0 | $662,719 | $0 | $0 | $0 |
| Mr David Nasser | ||||||||||||||
| SR. VP OF SPIR DEV | $410,096 | $0 | $0 | $0 | $3,665 | $0 | $20,000 | $0 | $12,735 | $0 | $446,496 | $0 | $0 | $0 |
| Mr Charles Spence | ||||||||||||||
| Sr. VP of Facilities Mgmt | $220,018 | $0 | $6,872 | $0 | $9,000 | $0 | $11,453 | $0 | $9,822 | $0 | $257,165 | $0 | $0 | $0 |
| Ms Laura Wallace | ||||||||||||||
| EVP for Human Resources | $304,198 | $0 | $109,000 | $0 | $0 | $0 | $15,000 | $0 | $4,826 | $0 | $433,024 | $0 | $0 | $0 |
| Mr Hugh Freeze | ||||||||||||||
| Head Coach-Football | $1,790,449 | $0 | $125,000 | $0 | $118,096 | $0 | $26,000 | $0 | $12,440 | $0 | $2,071,985 | $0 | $0 | $0 |
| Mr Ritchie McKay | ||||||||||||||
| Head Coach-Men's Basketball | $907,341 | $0 | $151,875 | $0 | $28,268 | $0 | $26,000 | $0 | $12,735 | $0 | $1,126,219 | $0 | $0 | $0 |
| Dr Peter Bell | ||||||||||||||
| Dean, LU Coll. of Osteopathic | $439,499 | $0 | $0 | $0 | $0 | $0 | $22,500 | $0 | $12,440 | $0 | $474,439 | $0 | $0 | $0 |
| Mr Turner Gill | ||||||||||||||
| EVP OF DIVERSITY, DEVELOPMENT | $129,927 | $0 | $0 | $0 | $201,162 | $0 | $5,625 | $0 | $2,729 | $0 | $339,443 | $0 | $0 | $0 |
| Dr Mark Horstemeyer | ||||||||||||||
| Dean, School of Engineering | $314,499 | $0 | $0 | $0 | $14,230 | $0 | $16,250 | $0 | $12,440 | $0 | $357,419 | $0 | $0 | $0 |
| Mr Chris Johnson | ||||||||||||||
| Former Key Employee | $95,295 | $0 | $3,000 | $0 | $29,657 | $0 | $3,542 | $0 | $12,263 | $0 | $143,757 | $0 | $0 | $0 |
| Dr Ronald Hawkins | ||||||||||||||
| Former Officer | $123,842 | $0 | $0 | $0 | $4,165 | $0 | $6,027 | $0 | $9,356 | $0 | $143,390 | $0 | $0 | $0 |
| mr daniel deter | ||||||||||||||
| VP of major construction | $205,547 | $0 | $6,300 | $0 | $6,000 | $0 | $10,500 | $0 | $12,076 | $0 | $240,423 | $0 | $0 | $0 |
| Mrs Cindy Gaebe | ||||||||||||||
| VP of Finance & Administration | $207,623 | $0 | $6,335 | $0 | $0 | $0 | $0 | $0 | $12,076 | $0 | $226,034 | $0 | $0 | $0 |
| mr craig pettit | ||||||||||||||
| VP of Real Estate Management | $229,547 | $0 | $5,400 | $0 | $0 | $0 | $9,000 | $0 | $11,781 | $0 | $255,728 | $0 | $0 | $0 |
| mr carey green | ||||||||||||||
| head coach, womens basketball | $328,677 | $0 | $0 | $0 | $0 | $0 | $13,335 | $0 | $9,352 | $0 | $351,364 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A: | TYPE OF BENEFIT: FIRST-CLASS OR CHARTER TRVEL LISTED PERSON WHO RECEIVED THE BENEFIT: TRUSTEES, OFFICERS, KEY AND HIGHLY COMPENSATED WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? FOR BUSINESS TRAVEL THE AMOUNT IS NEITHER REIMBURSED NOR IS TAXABLE; PERSONAL TRAVEL IS EITHER REIMBURSED OR TREATED AS A TAXABLE BENEFIT TYPE OF BENEFIT: TRAVEL FOR COMPANIONS LISTED PERSON WHO RECEIVED THE BENEFIT: TRUSTEES, OFFICERS, KEY AND HIGHLY COMPENSATED WAS THE BENEFIT TREATED AS TAXABLE TO THE LISTED PERSON? IF COMPANION HAD A BUSINESS PURPOSE, THE AMOUNT IS NEITHER REIMBURSED NOR TAXABLE. IF COMPANION DOES NOT HAVE A BUSINESS PURPOSE, THE AMOUNT IS EITHER REIMBURSED OR IS TREATED AS A TAXABLE BENEFIT TYPE OF BENEFIT: TAX INDEMNIFICATION AND GROSS-UP PAYMENTS LISTED PERSON WHO RECEIVED THE BENEFIT: PRESIDENT OF THE UNIVERSITY and evp of inclusion, equity and diversity WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? THE AMOUNT IS TREATED AS TAXABLE COMPENSATION TYPE OF BENEFIT: HOUSING ALLOWANCE LISTED PERSON WHO RECEIVED THE BENEFIT: EVP of inclusion, equity and diversity and sr. vp of spiritual development WAS THE BENEFIT TREATED AS TAXABLE TO THE LISTED PERSON? THE AMOUNT IS TREATED AS TAXABLE COMPENSATION, not taxable for ministerial TYPE OF BENEFIT: HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES LISTED PERSON WHO RECEIVED THE BENEFIT: PRESIDENT OF THE UNIVERSITY WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? THE AMOUNT IS TREATED AS TAXABLE COMPENSATION TYPE OF BENEFIT: PERSONAL SERVICES LISTED PERSON WHO RECEIVED THE BENEFIT: PRESIDENT OF THE UNIVERSITY WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? THE AMOUNT IS EITHER REIMBURSED OR TREATED AS TAXABLE COMPENSATION |
| PART I, LINE 3: | COMPENSATION OF THE CHANCELLOR/PRESIDENT AND OTHER OFFICERS AND KEY EMPLOYEES ARE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE. COMPARABLE SALARY DATA IS REVIEWED WHEN SALARIES ARE SET AND ADJUSTED TO DETERMINE THE REASONABLENESS OF THE COMPENSATION. |
| Part I, Line 4a: | TURNER GILL received a severance payment in the amount of $171,538. Randall Smith received a severance payment in the amount of $335,512. Jerry falwell received a severance payment in the amount of $2,475,962. PART I, LINE 4B: JERRY FALWELL WAS PROVIDED AN ADDITIONAL NONQUALIFIED RETIREMENT PLAN TO SUPPLEMENT HIS UNIVERSITY-PROVIDED 403B BENEFITS AND TO RECOGNIZE HIS YEARS OF SERVICE TO THE SCHOOL without a retirement plan. THIS BENEFIT WAS STRUCTURED SO THAT IT WAS TREATED AS HAVING BEEN EARNED AS AN ANNUAL NOTIONAL CREDIT OF $385,000 (REDUCED BY THE UNIVERSITY-PROVIDED 403B EMPLOYER CONTRIBUTIONS) TO AN ACCOUNT EARNING 6% INVESTMENT RETURNS ANNUALLY OVER THE TERM OF MR. FALWELL'S SERVICE AS PRESIDENT, INCLUDING CREDITS FOR THE PERIOD 2007-2019. ANNUAL CREDITS ATTRIBUTABLE TO SERVICE PERIODS AFTER JULY 1, 2019 REQUIRE MR. FALWELL TO BE EMPLOYED AS PRESIDENT THROUGH THE CREDITING DATE TO RECEIVE THE CREDIT, AND THE ENTIRE BENEFIT IS SUBJECT TO FORFEITURE IF CERTAIN CONDITIONS ARE NOT MET. |
| Part I, Line 7: | CERTAIN EMPLOYEES AS DISCLOSED IN PART VII AND SCHEDULE J RECEIVE BONUS PAYMENTS WHICH WOULD QUALIFY AS NON-FIXED PAYMENTS. THE AMOUNTS OF SUCH BONUSES ARE APPROVED BY EXECUTIVE LEADERSHIP OF THE ORGANIZATION IN SUCH A WAY TO ENSURE REASONABLE COMPENSATION AND AVOID CONFLICTS OF INTEREST. ALL SUCH PAYMENTS ARE REFLECTED IN THE EMPLOYEE'S W-2. |
Schedule L IRS990ScheduleL
Disqualified Person Ex Bnft Tr DisqualifiedPersonExBnftTrGrp (5 entries)
| Rln Disqualified Person OrgRlnDisqualifiedPersonOrgTxt | TransactionTransactionDesc | Transaction CorrectedTransactionCorrectedInd |
|---|---|---|
| Jerry Falwell Jr | ||
| Officer | Fringe Benefits | false |
| charles wesley falwell | ||
| Son of Officer | Comp & Fringe Benefits | false |
| Laura Falwell | ||
| Daughter in Law of Officer | Compensation | false |
| Sarah Falwell | ||
| Daughter in Law of Officer | Compensation | false |
| Estate of Macel Falwell | ||
| Estate of the Founder's Wife | Comp & Fringe Benefits | false |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Imposed | $524,284 | TaxImposedAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| RELATED TO SUBSTANTIAL CONTRIBUTOR | |||||||
| RELATED TO SUBSTANTIAL CONTRIBUTOR | Real prop. purchase | Yes (X) | $395,066 | $367,564 | false | false | Yes (true) |
| Falwell Family GST Irrevoc Trust | |||||||
| 35% Controlled Entity of Jerry Falwell, Jr. | split dollar premium | Yes (X) | $486,566 | $492,126 | false | Yes (true) | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $859,690 | TotalBalanceDueAmt |
Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp (4 entries)
| Cash GrantCashGrantAmt | Type Of AssistanceTypeOfAssistanceTxt | Assistance PurposeAssistancePurposeTxt |
|---|---|---|
| $390,474 | grants to family of board | to have comparable |
| $0 | members, officers and | benefits program for |
| $0 | key employees | all employees & certain |
| $0 | others |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (39 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| Redfinch Solutions | |||
| owned by key employee | $19,200 | payments for services | false |
| JF Management | |||
| owned by key employee | $40,655 | payment for management service | false |
| Mallard Services | |||
| owned by son of key employee | $17,389 | payment for construct services | false |
| Native Enterprises | |||
| owned by son of key employee | $68,675 | payment for construct services | false |
| Spence Construction | |||
| owned by son of key employee | $106,324 | compensation | false |
| Franklin Graham | |||
| father of a board member | $25,000 | honorarium | false |
| Bernie Beckles | |||
| Wife of Board Member | $29,440 | compensation | false |
| Brandon Elrod | |||
| Son in law of Key Employee | $42,107 | compensation | false |
| Dawson Kennedy | |||
| Son of Key Employee | $10,723 | compensation | false |
| Dr Elmer Towns | |||
| Co-founder | $111,239 | compensation | false |
| Emily Hine Elrod | |||
| Daughter of Key Employee | $53,045 | compensation | false |
| Jamye Tickle | |||
| Daughter of Board Member | $34,475 | compensation | false |
| Jennifer Kennedy | |||
| Wife of Key Employee | $62,100 | compensation | false |
| Jessica Smith | |||
| Daughter of Key Employee | $31,649 | compensation | false |
| Jonathan Wallace | |||
| Son of Key Employee | $66,084 | compensation | false |
| Kathleen Spence | |||
| Wife of Key Employee | $52,273 | compensation | false |
| Laura Falwell | |||
| Daughter in law of Board Member/Officer | $78,648 | compensation | false |
| Nastaran Morgan | |||
| Sister of Key Employee | $51,500 | compensation | false |
| Sarah Falwell | |||
| Daughter in law of Board Member/Officer & wife of Key Employee | $16,385 | compensation | false |
| Shanna Akers | |||
| Wife of an officer | $211,237 | compensation | false |
| Scott Hawkins | |||
| Son of a Former Officer | $183,300 | compensation | false |
| Vincent Tickle | |||
| Son in law of Board Member | $87,295 | compensation | false |
| Virginia Dow | |||
| Sister in Law of Officer | $123,366 | compensation | false |
| Charles wesley Falwell | |||
| Son of Board Member/Officer | $72,380 | compensation | false |
| Tonia Kennedy | |||
| sister in law of key employee | $141,338 | compensation | false |
| Mark Akers | |||
| Son of Officer | $51,500 | compensation | false |
| Deidre Akers | |||
| Daughter-in-law of Officer | $44,805 | compensation | false |
| Melanie Hicks | |||
| wife of officer | $207,792 | COMPENSATION | false |
| Christopher Hicks | |||
| brother of officer | $56,280 | compensation | false |
| Dr John Gauger | |||
| father of a key employee | $11,600 | compensation | false |
| Carol Prevo | |||
| wife of a board member and officer | $39,824 | compensation | false |
| SUBSTANTIAL CONTRIBUTOR | |||
| SUBSTANTIAL CONTRIBUTOR | $590,572 | payment for fuel | false |
| SUBSTANTIAL CONTRIBUTOR | |||
| SUBSTANTIAL CONTRIBUTOR | $5,059,459 | payment for investment mgmt | false |
| SUBSTANTIAL CONTRIBUTOR | |||
| SUBSTANTIAL CONTRIBUTOR | $629,266 | payment for heating and air | false |
| SUBSTANTIAL CONTRIBUTOR | |||
| SUBSTANTIAL CONTRIBUTOR | $764,535 | payment for marketing services | false |
| SUBSTANTIAL CONTRIBUTOR | |||
| SUBSTANTIAL CONTRIBUTOR | $159,358 | payment for land & constr. | false |
| SUBSTANTIAL CONTRIBUTOR | |||
| SUBSTANTIAL CONTRIBUTOR | $23,557,992 | payment for construction svcs | false |
| Gayle Gill | |||
| wife of key employee | $18,750 | compensation | false |
| Vickey jaynes | |||
| sister of key employee | $124,335 | compensation | false |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 1 | FormAndLineReferenceDesc |
| Explanation | Jerry Falwell, Jr. engaged in the following excess benefit transactions: (i) unreimbursed use of or direction of the use of University owned aircraft for personal purposes; (ii) use of University credit cards to pay for personal charges without reimbursement; (iii) benefited from University employees providing personal services for housekeeping and groundskeeping services to his family, plus the provision of an administrative assistant services to his wife without reimbursement; (iv) use of University employees to manage capital improvements and intellectual property upgrades on his personal property without reimbursement; (v) maintenance at offsite personal property without reimbursement; (vi) excess academic benefits for the benefit of his children attending the University, and (vii) received "gross up" for tax payments for personal services in contravention of his employment agreement. With regard to Jerry Falwell Jr.'s son, Charles Wesley Falwell, and his daughters-in-laws, Laura Falwell and Sarah Falwell, each received unreasonable compensation for services provided to the University. In addition, Charles Wesley Falwell and his wife-Laura Falwell were permitted to live in University housing paying below market rent. Finally, Jerry Falwell, Jr. authorized the use of University assets to provide security services and personal care services to his mother, Macel Falwell that were unreimbursed. With regard to the computation of the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958 as disclosed in Part I, Line 2, the University only included excess benefit transactions that occurred during fiscal years ending June 30, 2016 through June 30, 2021. The University informed all disqualified persons listed above of the identified excess benefit transactions and demanded repayment. As of the date of the filing, JERRY FALWELL JR., WESLEY CHARLES FALWELL, LAURA FALWELL, AND SARAH FALWELL HAVE EXPRESSED THEIR INTENT TO MAKE PARTIAL CORRECTIONS OF the excess benefits. The University is evaluating potential additional collection options. With regard to corrective action, Sarah Falwell and Jerry Falwell, Jr. are no longer employees of the University. The University has made adjustments to the compensation of Charles Wesley Falwell and believes the compensation paid is now reasonable. Laura Falwell has changed roles at the University and the University believes the compensation paid is now reasonable. Further, Charles Wesley Falwell and Laura Falwell are no longer residing in University-owned housing. The University has taken significant actions to put new policies and procedures in place to minimize the risk of future excess benefit transactions occurring. These actions include adopting Amended and Restated Bylaws for the University that include provisions restricting the powers of the University's President to act on behalf of the University without the approval of the Board of Trustees. The University revised its Signature Authority Policy that creates significant limitations on the power of the President to approve certain transactions which are reserved to the Board of Trustees and others which required approval of a Board committee or concurrence with the President and CFO. The University also adopted a new aircraft usage policy to (1) require the Executive Committee of the Board of Trustees of the University to approve the ability of the President to exceed the number of allotted flight hours provided in President's employment agreement and (2) require contemporaneous documentation of the business purpose for each passenger on each flight and a list of passengers before each flight. The Board of Trustees of the University adopted Board of Trustees Guidelines, which included a fleshed-out process by which the Executive Committee of the Board of Trustees is to set the compensation and benefits of the President. Additionally, the adopted Board of Trustees Guidelines require the President to furnish the Executive Committee with market data on the comparability and reasonableness of compensation and benefits of other officers of the corporation, and key employees. Further, the Board of Trustees adopted a Code of Business Conduct that sets a standard of ethical conduct expected of all trustees, officers, and employees, including an expectation that such persons must avoid circumstances where their financial or other personal ties could present an actual or potential conflict of interest. The Code of Business Conduct requires that violations of the Code to be reported and the policy protects good faith reporters from retaliation and allows for anonymous reporting. The Board of Trustees adopted a more robust Whistleblower Policy, which encourages employees, trustees, and other covered persons to report "Wrongful Conduct", which is defined to include use of University property, resources, or authority for personal gain for oneself. The Whistleblower policy also protects good faith reporters from retaliation and allows for anonymous reporting. The Board of Trustees also adopted a revised Conflicts of Interest and Commitment for Senior Officers and Executives Policy, which requires senior officers and executives to disclose any potential conflicts of interest and conflicts of commitment. Under this revised policy, the resolution of such potential or actual conflicts of the President are subject to the approval of the Audit Committee and Board of Trustees. Also under this policy, the President must take steps to adopt conflict of interest policies more generally applicable to the University community. The Board of Trustees also adopted a Policy on Anti-Nepotism for Senior Officers and Executives, whereby the employment by the University of relatives or close friends of senior officers and executives (including the President), absent the approval of the Board of Trustees, is prohibited. Under this Policy, the compensation of any relatives or close friends of such individuals, if hired, must be reviewed and approved annually by the Board of Trustees. The Board also adopted a resolution requiring (1) all other University policies to be updated to be consistent with these newly adopted or updated policies and (2) University employees be trained on the new or updated policies. | ExplanationTxt |
Schedule M IRS990ScheduleM
| Field | Value | IRS element (for citing) |
|---|---|---|
| Works Of Art | WorksOfArtGrp | |
| Art Historical Treasures | ArtHistoricalTreasuresGrp | |
| Art Fractional Interest | ArtFractionalInterestGrp | |
| Books And Publications | BooksAndPublicationsGrp | |
| Clothing And Household Goods | ClothingAndHouseholdGoodsGrp | |
| Cars And Other Vehicles | CarsAndOtherVehiclesGrp |
Boats And Planes BoatsAndPlanesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $215,383 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | appraisal | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Intellectual Property | IntellectualPropertyGrp |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 7 | ContributionCnt |
| Noncash Contributions Rpt F990 | $187,215 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities Closely Held Stock | SecuritiesCloselyHeldStockGrp | |
| Secur Prtnrshp Trust Intrsts | SecurPrtnrshpTrustIntrstsGrp | |
| Securities Miscellaneous | SecuritiesMiscellaneousGrp | |
| Qualified Contrib Hist Struct | QualifiedContribHistStructGrp | |
| Qualified Contrib Other | QualifiedContribOtherGrp | |
| Real Estate Residential | RealEstateResidentialGrp | |
| Real Estate Commercial | RealEstateCommercialGrp | |
| Real Estate Other | RealEstateOtherGrp |
Collectibles CollectiblesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $5,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Food Inventory | FoodInventoryGrp | |
| Drugs And Medical Supplies | DrugsAndMedicalSuppliesGrp | |
| Taxidermy | TaxidermyGrp | |
| Historical Artifacts | HistoricalArtifactsGrp | |
| Scientific Specimens | ScientificSpecimensGrp | |
| Archaeological Artifacts | ArchaeologicalArtifactsGrp |
Other Non Cash Contri Table OtherNonCashContriTableGrp (3 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | Horses | 2 | $19,900 | FMV |
| Yes (X) | Equipment | 2 | $9,379 | FMV |
| Yes (X) | LUGGAGE | 1 | $7,200 | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 2 | Form8283ReceivedCnt |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | false | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART 1, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: | LIBERTY UNIVERSITY, INC. IS A distinctively CHristian ACADEMIC COMMUNITY, WITH a MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION TRAINING CHAMPIONS FOR CHRIST. FORM 990, PART VI, SECTION A, LINE 1A: THE EXECUTIVE COMMITTEE OF THE BOARD IS THE GOVERNING BODY OF THE ORGANIZATION BETWEEN BOARD MEETINGS WITH POWERS TO DO EVERYTHING THE BOARD CAN DO, EXCEPT CHANGE COMPOSITION OF ANY STANDING COMMITTEE; ADD OR REMOVE TRUSTEES; ESTABLISH BOARD POLICY; RESCIND OR CHANGE PRIOR DECISIONS OF THE BOARD; CHANGE ARTICLES OF INCORPORATION OR BYLAWS; ADOPT COMPENSATION FOR BOARD OR COMMITTEE SERVICE; AND HIRE OR TERMINATE THE PRESIDENT. |
| FORM 990, PART VI, SECTION A, LINE 2: | MR. JERRY FALWELL, JR. AND MR. JONATHAN FALWELL Sat ON THE BOARD OF TRUSTEES AND ARE BROTHERS. MR. TREY FALWELL was A KEY EMPLOYEE. MR. JERRY FALWELL AND MR TREY FALWELL ARE FATHER AND SON. MR. JEFFREY F. BENSON AND MRS. GAYE OVERTON BENSON CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE HUSBAND AND WIFE. BOARD MEMBERS HARVEY GAINEY AND ANGELA JORDAN ARE FATHER/DAUGHTER. BOARD MEMBERS DAVID RHODENHIZER AND CHRIS RHODENHIZER ARE FATHER/SON. Board members Gilbert Tinney and Will Tinney are father/son. Form 990, Part VI, Section A, Line 4: BOTH THE ARTICLES OF INCORPORATION AND BYLAWS WERE SIGNIFICANTLY AMENDED IN THE TAX YEAR TO PROVIDE AN INCREASED SPIRITUAL EMPhASIS, IMPROVED MEETING PROCEDURES AND BETTER APPLICATION OF BOARD GOVERNANCE PRINCIPLES. ON SPIRITUAL EMPHASIS, THE DOCUMENTS: STRENGTHENED THE STATEMENT OF THE ROLE OF THOMAS ROAD BAPTIST CHURCH AND ITS RELATIONSHIP WITH THE UNIVERSITY; AFFIRMATIVELY TIED IN ALL UNIVERSITY FUNCTIONS, OPERATIONS AND PROGRAMS TO THE HOLY BIBLE AND DOCTRINAL POSITION; RELIANCE ON BIBLICAL AND SCRIPTURAL VALUES ALONE INSTEAD OF LESS CERTAIN TERM OF "EVANGELICAL ADDITIONS TO DOCTRINAL STATEMENT EXPLICITLY REFERENCING EXAMPLES OF BOTH VIRTUOUS AND SINFUL BEHAVIOR; EXPLICITLY STATED BIBLICAL POSITIONS ON LIFE, MARRIAGE, SEX, GENDER, DRUNKENNESS, GOVERNMENT, THE CHURCH AND MORE IN DOCTRINAL POSITION; CREATION OF CHANCELLOR OF SPIRITUAL AFFAIRS POSITION TO PROVIDE MORAL LEADERSHIP, ACCOUNTABILITY AND DISCIPLESHIP TO EXECUTIVES, ADVICE ON IMPLEMENTING SPIRITUAL MISSION, GUIDANCE IN THE SCHOOL OF DIVINITY, OVERSIGHT OF THE OFFICE OF SPIRITUAL DEVELOPMENT, COORDINATION OF CONVOCATIONS AND CAMPUS CHURCH SERVICES, AND REPORTS TO BOARD ON DEVIATIONS FROM SPIRITUAL MISSION AND DOCTRINAL POSITION; AND HOLDING TRUSTEES, PRESIDENT, CHANCELLOR OF SPIRITUAL AFFAIRS AND NON-TRUSTEE COMMITTEE MEMBERS TO HIGH STANDARDS OF CHRISTIAN BEHAVIOR CONSISTENT WITH THE DOCTRINAL POSITION. ON MEETING PROCEDURES, REVISED PROCEDURES FOR CALLING MEETINGS WITH SHORTER NOTICE; AND PROVIDED CONDITIONS FOR REMOTE PARTICIPATION IN MEETINGS. ON GOVERNANCE PRINCIPLES, INCREASED THE MINIMUM SIZE OF THE BOARD FROM 5 TO 20 AND DECREASED THE MAXIMUM SIZE FROM 50 TO 40; CLARIFIED PROCEDURES FOR RESIGNATION AND OPTING FOR EMERITUS TRUSTEE STATUS; REALLOCATED VARIOUS POWERS FROM THE PRESIDENT TO THE BOARD, INCLUDING: SPENDING AUTHORITY, CONTRACTING AND BORROWING LIMITS, AND ASSET ACQUISITION AND SALE OVERSIGHT; SET OUT THE ROLES OF THE CHAIRMAN AND VICE CHAIRMAN, INCLUDING CHAIRMAN SERVING ON THE EXECUTIVE COMMITTEE; CLARIFIED ROLE OF EXECUTIVE COMMITTEE AND EXTENDED RECOMMENDATIONS AND EVALUATION RESPONSIBILITIES REGARDING PRESIDENT AND CHANCELLOR OF SPIRITUAL AFFAIRS; REQUIRED TIMELY REPORT OF ALL SUBSTANTIVE ACTIONS OF THE EXECUTIVE COMMITTEE TO THE FULL BOARD; CREATED AN ACADEMIC AND STUDENT AFFAIRS COMMITTEE CONCERNED WITH THE ACADEMIC, STUDENT LIFE, STUDENT SERVICES AND DIVERSITY PROGRAMS; CREATED A BUDGET AND FINANCE COMMITTEE TO REVIEW BUDGET PROPOSALS, FISCAL POLICY AND SPENDING; CREATED A FACILITIES AND CAMPUS DEVELOPMENT COMMITTEE FOCUSED ON THE PHYSICAL PLANT, MASTER PLANNING AND NEW CAPITAL PROJECT PRE-APPROVAL; CROSS MEMBERSHIP ON CERTAIN COMMITTEES TO FACILITATE COMMUNICATION AND COORDINATION; AND INCLUDED GOOD GOVERNANCE PRINCIPLES ON CONFLICTS OF INTEREST, NON-TRUSTEE COMMITTEE MEMBERS. Form 990, Part VI, Section A, Line 5: 1. A University employee inappropriately redirected check payments received to incorrect accounts and entities in order to allegedly misuse the funds for personal expenses between 1999 and 2006. The estimated total dollar amount is $282,661.36. The employee was terminated June 8, 2006. The employee entered a repayment plan on December 12, 2006 with payments made through May 13, 2022. 2. Unrelated to above, see schedule L part I. |
| FORM 990, PART VI, SECTION B, LINE 11B: | FORM 990 FOR FY JUNE 30, 2021 WAS PROVIDED BEFORE FILING TO THE PRESIDENT, CHIEF FINANCIAL OFFICER, IN-HOUSE LEGAL COUNSEL AND THE BOARD OF TRUSTEES FOR REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 12C: | The University has adopted a policy of Conflicts of Interest for Trustees. The Secretary is responsible for distributing and collecting signed Disclosure Statements at the time a Trustee is first elected, annually, and at the time a Trustee becomes aware of a potential conflict. After receiving disclosures from the Trustees, the Secretary will summarize the material information contained in the Disclosure Statements or other disclosure and deliver a report to the Audit Committee and the General Counsel. The resolution of any conflict or perceived conflict that is identified by the Secretary will be determined by the Audit Committee or, upon the referral by the Audit Committee or the Chairman of the Audit Committee, by the Board of Trustees. The General Counsel will advise on any legal requirements arising from any actual or apparent Conflict of Interest, including those situations where it would be appropriate or required for the Trustee to recuse him or herself from Board deliberations or votes. To the extent any actual or apparent Conflict of Interest involves a transaction under consideration by the Board of Trustees or a Committee of the Board, the Trustee's interest must be disclosed and known to the Board or the applicable Committee prior to the authorization, approval or ratification of the transaction. The University has adopted a policy of Conflicts of Interest and Commitment for Senior Officers and Executives. The Secretary is responsible for distributing the Disclosure Statements and collecting signed Disclosure Statements at the time a Senior Officer or Executive is first appointed or hired. Annually, the Secretary will disseminate and provide annual Disclosure Statements to all Senior Officers and Executives. After receiving disclosures from the Senior Officers and Executives, the Secretary will summarize the material information contained in the Disclosure Statements or other disclosure and timely deliver a report to the President of the University, the Chief Financial Officer and the Audit Committee. The resolution of any actual or perceived Conflict of Interest that is identified by the Secretary will be determined by the President, Chancellor of Spiritual Affairs, Chief Financial Officer or Internal Auditor will be determined in consultation with the Chairman of the Audit Committee and subject to the approval of the Audit Committee or Board of Trustees. |
| FORM 990, PART VI, SECTION B, LINE 15: | COMPENSATION OF THE CHANCELLOR/PRESIDENT AND OTHER OFFICERS AND KEY EMPLOYEES ARE REVIEWED WHEN SALARIES ARE SET AND ADJUSTED TO DETERMINE THE REASONABLENESS OF THE COMPENSATION. COMPENSATION IS FURTHER REVIEWED DURING THE BUDGETING PROCESS. NO ONE VOTES ON THEIR OWN SALARY DURING THE PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19: | LIBERTY UNIVERSITY DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION. HOWEVER, SOME DOCUMENTS MAY BE AVAILABLE IN THE PUBLIC RECORD AND/OR ON THE INTERNET. FOR EXAMPLE, LIBERTY UNIVERSITY'S ARTICLES OF INCORPORATION ARE FILED WITH THE VIRGINIA STATE CORPORATION COMMISSION AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE DAC BOND WEBSITE. |
| FORM 990, PART VII, section a, line (b) average hours per week | Board members contribute their time and services upon request and on as needed basis, which, throughout the year, may differ from the average number of hours per week. |
| Form 990, Part XI, Line 9, CHANGES IN NET ASSETS: | CHANGE IN SPLIT INTEREST AGREEMENT 11,531,406 |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (38 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| 4400 Campbell Avenue LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $0 | $226,216 | Liberty Univ |
| 4414 Campbell Avenue LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $0 | $225,688 | Liberty Univ |
| 4420 Campbell Avenue LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $0 | $31,649 | Liberty Univ |
| 4132 Richmond Highway LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $10,800 | $485,182 | Liberty Univ |
| 4180 Richmond Highway LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $18,000 | $817,105 | Liberty Univ |
| 4228 Richmond Highway LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $0 | $291,134 | Liberty Univ |
| 4306 Richmond Highway LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real Estate | VA | $0 | $429,179 | Liberty Univ |
| 4500 Richmond Highway LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $0 | $114,485 | Liberty Univ |
| Holcomb Path LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real Estate | VA | $0 | $61,188 | Liberty Univ |
| 747 River Road LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real Estate | VA | $0 | $89,467 | Liberty Univ |
| Airport Plaza Holdings LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 471347963 | Real Estate | VA | $544,580 | $7,854,367 | Liberty Univ |
| Burton Realty I LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $33,608 | $8,172,410 | Liberty Univ |
| Burton Realty II LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real Estate | VA | $35,038 | $8,520,172 | Liberty Univ |
| Burton Realty III LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real Estate | VA | $715 | $173,881 | Liberty Univ |
| Burton Realty IV LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $715 | $173,881 | Liberty Univ |
| Burton Realty V LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real estate | VA | $715 | $173,881 | Liberty Univ |
| Burton Realty VI LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | REAL ESTATE | VA | $715 | $173,881 | Liberty Univ |
| C & C Aviation LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Univ. Travel | VA | $809,525 | $14,189,583 | Liberty Univ |
| Crossroads Investments LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 473991939 | REAL ESTATE | VA | $0 | $975,301 | Liberty Univ |
| Currus Holdings LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 841924710 | REAL ESTATE | VA | $0 | $5,121,975 | Liberty Univ |
| Eleanor's Bench LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Student Prod | VA | $0 | $0 | Liberty Univ |
| Ivy Hill Recreation LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 460903360 | Student Rec | VA | $103,204 | $0 | Liberty Univ |
| Jerry Falwell Ministries LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 832633425 | Donations | VA | $25,893 | $40,556 | Liberty Univ |
| Liberty Health Services LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 475575947 | health svcs | VA | $442,749 | $2,852,638 | Liberty Univ |
| Liberty Motion Pictures LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 465653798 | Student Prod | VA | $0 | $11,899 | Liberty Univ |
| Liberty Mountain Medical Group LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 472935244 | COCA accredia | VA | $1,446,517 | $3,039,309 | Liberty Univ |
| Liberty Ridge LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 270714028 | Real Estate | VA | $299,265 | $9,062,906 | Liberty Univ |
| LU Candler's Mountain Road Holdings LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | Real Estate | VA | $0 | $6,124,211 | Liberty Univ |
| LU Candlers Station Holdings LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 271753489 | Real estate | VA | $2,263,973 | $13,708,817 | Liberty Univ |
| LU Plaza Holdings LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 270217985 | Real Estate | VA | $1,580,464 | $15,832,263 | Liberty Univ |
| LU Wards Road Center Holdings LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 825392968 | Real Estate | VA | $671,449 | $7,141,144 | Liberty Univ |
| LUCOM Graduate Medical Education Service | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 831769271 | Med Education | VA | $0 | $0 | Liberty Univ |
| Morning Star Broadcasting LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 463731118 | TV Broadcast | VA | $0 | $632,645 | Liberty Univ |
| Philanthropy Lynchburg LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 364962693 | RETAIL SALES | VA | $785,345 | $1,177,384 | LIBERTY UNIV |
| Red Tie Music LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 461340766 | Student Publi | VA | $77,160 | $195,944 | LIBERTY UNIV |
| River Ridge Mall JV LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 811762010 | REAL ESTATE | VA | $6,811,143 | $69,196,791 | LIBERTY UNIV |
| Vertical Ventures LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | TELECOM ASSET | VA | $0 | $0 | LIBERTY UNIV |
| CFA-Wards Road LLC | |||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540946734 | real estate | VA | $0 | $0 | Liberty Univ |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| THOMAS ROAD BAPTIST CHURCH CORPORATION | ||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 260061907 | Religious | VA | 501(C)(3) | line 1 | Board of Dea | false |
| Old Time Gospel Hour | ||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 237293001 | Religious | VA | 501(C)(3) | line 10 | Liberty Univ | Yes (true) |
| Liberty University Foundation | ||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 541939910 | Religious | DC | 501(C)(3) | line 10 | Liberty Univ | Yes (true) |
| Liberty Christian Academy | ||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 540831546 | Education | VA | 501(C)(3) | line 2 | Liberty Univ | Yes (true) |
| Liberty University Endowment Trust | ||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 541851119 | Religious | VA | 501(C)(3) | line 12 | Liberty Univ | Yes (true) |
| Liberty Broadcasting Network Inc | ||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 541381866 | Religious | VA | 501(C)(3) | line 10 | Liberty Univ | Yes (true) |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (9 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Disproportionate AllocationsDisproportionateAllocationsInd | UBI Code VUBICodeVAmt | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Permanens Capital Defensive Income Fund | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 383945161 | Investing | DE | Permanens Assoc | excluded | $5,619,082 | $179,538,103 | false | $0 | false | 0.70500 |
| Permanens Alternative Fund LP | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 820801083 | Investing | DE | Permanens Assoc | excluded | $602,135 | $137,295,304 | false | $198,832 | false | 0.71580 |
| Permanens Capital Equities Fund LP | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 454748424 | Investing | DE | Permanens Assoc | excluded | $12,505,079 | $109,642,054 | false | $0 | false | 0.81120 |
| Permanens Capital Floating Rate Fund LP | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 800939712 | Investing | DE | Permanens Assoc | excluded | $2,002,688 | $77,241,436 | false | $0 | false | 0.53160 |
| Permanens Capital Physical Precious Meta | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 900838101 | Investing | DE | Permanens Assoc | excluded | $0 | $54,099,110 | false | $0 | false | 0.53940 |
| Permanens Non-Agency RMBS Allocation Fun | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 901003099 | Investing | DE | Permanens Assoc | excluded | $7,338,404 | $185,120,539 | false | $0 | false | 0.52210 |
| Spectrum Capital Securities Institutiona | ||||||||||||||
| 2 High Ridge Park | Stamford | CT | 06905 | 832764754 | Investing | DE | Spectrum Asset | excluded | $2,055,483 | $46,021,037 | false | $0 | false | 0.56600 |
| Usonian Japan Value US Dollar Hedged Fun | ||||||||||||||
| 353 N Clark St Suite 3501 | Chicago | IL | 60654 | 611810824 | Investing | DE | Usonian Investm | excluded | -$650,195 | $6,659,740 | false | $0 | false | 0.54440 |
| Permanens Capital Short Duration High Yi | ||||||||||||||
| 545 Madison Avenue 12th Floor | New York | NY | 10022 | 320476370 | Investing | DE | Permanens Assoc | excluded | $1,704,428 | $53,816,917 | false | $0 | false | 0.31380 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Freedom Aviation Inc | ||||||||||||
| 310 Hangar Rd | Lynchburg | VA | 24502 | 540755641 | Aviation | VA | Liberty Univers | C Corp | $917,736 | $11,006,123 | 1.00000 | Yes (true) |
| Liberty Mountain Capital Inc | ||||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 272376207 | Investment | VA | Liberty Univers | C Corp | -$2,898 | $502,737 | 1.00000 | Yes (true) |
| Liberty Village Community Association In | ||||||||||||
| 1971 University Blvd | Lynchburg | VA | 24515 | 862524000 | Property Mgmt | VA | Liberty Univers | C Corp | $0 | $0 | 0.60000 | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (true) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (true) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (true) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (5 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Freedom Aviation | ||
| A | $18,804 | ACCRUAL |
| Old Time Gospel Hour | ||
| A | $7,794 | ACCRUAL |
| FREEDOM AVIATION | ||
| D | $508,571 | ACCRUAL |
| FREEDOM AVIATION | ||
| M | $6,351,869 | ACCRUAL |
| FREEDOM AVIATION | ||
| P | $224,319 | ACCRUAL |