2021-05-17T13:55:13-05:00 2020-06-30 BDO USA LLP 1100 Peachtree Street Suite 700 ATLANTA GA 303094516 990 2019-07-01 540946734 LIBERTY UNIVERSITY INC % DR ROBERT RITZ LIBE 4345924800 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DR ROBERT RITZ CFO 4345923237 2021-05-17 true Sandra L Feinsmith P01064157 4046886841 2021-05-15 2019 2022-09-23 18:48:47Z DR ROBERT RITZ 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 1768369231 false X WWW.LIBERTY.EDU X 1972 VA SEE SCHEDULE O 31 23 12065 9550 5309119 1010670 24340904 16444061 1229034114 1309847537 22156313 13759215 14063754 3606577 1289595085 1343657390 286400909 303594615 0 0 396548827 436388555 0 0 2060809 318166043 353758628 1001115779 1093741798 288479306 249915592 3127381424 3367494352 430680756 457774457 2696700668 2909719895 Liberty University, Inc. is a distinctively Christian academic community, with the primary mission of providing quality collegiate education. false false 818762275 303594615 1196639136 INSTRUCTION OF APPROXIMATELY 121,334 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 FINANCIAL NEED AND ACADEMIC MERIT. 151198371 104990214 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. 969960646 true true false true false false false true false true true true false false true false false false true true true false false false true false false true true true true false false false false false true true true true true true true false false true true true true false false true 1441 0 true 12065 true true true false false false false true true false false false true false false true false X 31 23 true false false false false false false true true false false false true true true true true true false true true CO NH NY OR SC WA X DR ROBERT RITZ 4345924800 1971 UNIVERSITY BLVD Lynchburg VA 24515 X Mr Jerry Falwell Chancellor/President 55.0 0.5 X X 1805610 0 396621 Mr Hugh Freeze Head Coach-Football 55.0 0.0 X 1100866 0 37440 Mr Ritchie McKay Head Coach-Men's Basketball 55.0 0.0 X 1083687 0 37735 Mr Ian McCaw Director of Athletics 55.0 0.0 X 649599 0 34610 Mr Ronald Kennedy EVP of Enrollment & Marketing 55.0 0.0 X 551889 0 26916 Mr Turner Gill Former Highly Compensated 0.0 0.0 X 573682 0 0 Dr Peter Bell Dean, LU College of Osteopathi 55.0 0.0 X 439599 0 34940 Mr David Nasser SR VP of Spiritual Development 55.0 0.0 X 391958 0 30779 Mr John Gauger Chief Information Officer 55.0 0.0 X 345241 0 24551 Dr Robert Ritz CFO/Treasurer 55.0 0.0 X 338474 0 27000 Mr Scott Symons Linebacker Coach 55.0 0.0 X 337890 0 24893 Mr Richard Austin Tightend Coach 55.0 0.0 X 328708 0 25154 Mr Randall Smith EVP & COO/Management Consultan 55.0 0.0 X 313676 0 25236 Ms Laura Wallace EVP for Human Resources 55.0 0.0 X 304770 0 19497 Mr David Corry General Counsel/Secretary 55.0 0.0 X 294498 0 26415 Mr Don Moon SR VP of Investment Management 55.0 2.0 X 258294 0 17348 Dr Scott Hicks Provost and Chief Academic Off 55.0 0.0 X 250386 0 10952 Mr Charles Spence SR VP of Facilities Management 55.0 0.5 X 235890 0 19329 Dr Ronald Hawkins Former Officer 40.0 0.0 X 212295 0 19705 Dr Shawn Akers Online Provost 55.0 0.0 X 221308 0 9583 Mr Dan Applewhite Deputy General Counsel/Assista 55.0 0.0 X 207042 0 19731 Mr Trey Falwell VP of University Operations 55.0 0.0 X 196229 0 20204 Dr Lawrence Hine Senior VP of Student Affairs 55.0 10.0 X 184973 0 18262 Mr Christian Kennedy Former Officer 40.0 0.0 X 179715 0 21985 Mr Chris Johnson Former Key Employee 40.0 0.0 X 110323 0 17263 Pastor Jonathan Falwell Trustee/Vice Chancellor of Spi 9.0 2.0 X 54209 0 0 Mr Anthony Beckles Trustee/Online chair 4.0 1.0 X 26975 0 2091 Dr John Borek Jr Trustee & Adjunct Professor 5.0 0.0 X 16400 0 0 Dr Allen McFarland Trustee & Adjunct Professor 5.0 0.0 X 5300 0 0 Mr Brian Autry Trustee 2.0 0.0 X 0 0 0 Mrs Gaye Overton Benson Trustee 2.0 0.0 X 0 0 0 Mr Jeffrey F Benson Trustee 2.0 0.0 X 0 0 0 Dr Don Crain Trustee 4.0 0.0 X 0 0 0 Mr Harvey Gainey Trustee 4.0 0.0 X 0 0 0 Evangelist William F Graham Trustee 2.0 0.0 X 0 0 0 Mr Pierre Guillermin Trustee 0.0 0.0 X 0 0 0 Mr John Heath Trustee 4.0 0.0 X 0 0 0 Mrs Angela Jordan Trustee 2.0 0.0 X 0 0 0 Mr Carroll Hudson Trustee 4.0 2.0 X 0 0 0 Evangelist Tim Lee Trustee 2.0 0.0 X 0 0 0 Mr Richard Lee Trustee 2.0 0.0 X 0 0 0 Dr Gene Mims Trustee 2.0 0.0 X 0 0 0 Ms Penny Nance Trustee 2.0 0.0 X 0 0 0 Mr Richard Osborne Trustee 4.0 0.0 X 0 0 0 Mr Galen Peel Sr Trustee 2.0 0.0 X 0 0 0 Dr Jerry Prevo Trustee/Chairman 4.0 0.0 X 0 0 0 Mr Harold Rawlings Trustee 2.0 0.0 X 0 0 0 Dr Dwight Reighard Trustee 2.0 0.0 X 0 0 0 Dr David Rhodenhizer Trustee 4.0 0.0 X 0 0 0 Mr Steven A Snyder Trustee 4.0 0.0 X 0 0 0 Mr Gilbert Tinney Jr Trustee 4.0 0.0 X 0 0 0 Dr Jerry Vines Trustee 2.0 0.0 X 0 0 0 Mr Duke Westover Trustee 2.0 0.0 X 0 0 0 Mr Jeffery S Yager Trustee 4.0 0.0 X 0 0 0 Mr Chris Rhodenhizer Trustee 2.0 0.0 X 0 0 0 Mr Will Tinney Trustee 2.0 0.0 X 0 0 0 10916602 0 946149 488 true true false Sodexo Inc Affiliates-Liberty Uni PO Box 360170 PITTSBURGH PA 15251 Food Service 27025167 Google Inc 1600 Amphitheatre Pkwy MOUNTAIN VIEW CA 94043 Admissions Lead Gene 24825990 Construction Management Associates PO Box 3020 LYNCHBURG VA 24503 Construction 22585191 HMS Holdings Limited Partnership db 4400 Papa Joe Hendrick Blvd CHARLOTTE NC 28262 Branding Initiative 5772006 English Construction Company Inc 615 Church St LYNCHBURG VA 24504 CONSTRUCTION 5068609 157 15406 5127754 11300901 2963996 16444061 TUITION AND FEES 611710 1196639134 1196639134 ROOM & BOARD 611710 84198715 81361689 2837026 STUDENT ACTIVITIES 611710 11393811 11393811 STUDENT FEES 611710 13540980 13540980 BOOKSTORE/CONCESSIONS 611710 4074897 4074897 1309847537 22974649 837072 22137577 0 394193 394193 12867523 123392 11649013 1218510 123392 1341902 123392 1218510 403261932 575152 406731274 6321244 -3469342 -5746092 -9215434 -5746092 -3469342 4232 15406 10310 -6078 -6078 0 0 0 0 0 0 OTHER INCOME 611710 -14554 -1393539 1378985 STUDENT TRAVEL FEES 561500 707119 707119 SPONSORSHIPS/ADVERTISING 511120 1183995 1051351 132644 1876560 1343657390 1301629350 5309119 20274860 1387581 1387581 302207034 302207034 0 0 7617567 5027594 2589973 2886658 1905194 981464 339844657 295741389 42958454 1144814 8502424 6710825 1732291 59308 53392715 40591426 12562422 238867 24144534 19529514 4532341 82679 0 4638651 4638651 225000 225000 21508 21508 0 6051233 6051233 6384431 3483640 2899982 809 19894779 10918375 8879453 96951 5259620 3708976 1489003 61641 45262493 33462885 11789034 10574 544223 385110 159113 13581455 12023180 1558275 13187913 12057425 1046916 83572 0 592052 413659 177133 1260 6410891 6002742 408149 0 52942558 50110131 2832427 4716726 1314657 3402069 PURCHASED SERVICES 80999218 89753277 -8851303 97244 STUDENT FOOD SERVICES 24728136 24465138 180599 82399 NON CAPITAL EQUIPMENT 15993497 13739681 2249063 4753 SUPPLIES 12398096 9370880 3006666 20550 39926148 25650333 14200427 75388 1093741798 969960646 121720343 2060809 3465233 10348502 260022494 320307379 0 7500 64067607 36954320 175627 273274 0 0 3637289 3269676 453064 697675 17033223 10826134 1828758435 409064156 1308955036 1419694279 784840644 627288983 650404431 903225308 13469535 15220890 649700 1317769 20207541 18062663 3127381424 3367494352 68688052 88680388 0 0 127695672 141750772 201886441 197589939 0 0 0 0 650000 0 0 0 31760591 29753358 430680756 457774457 X 2672903339 2886771669 23797329 22948226 2696700668 2909719895 3127381424 3367494352 X 249915592 -38696865 1800500 X X false false true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32838 55282 88120 1093653678 1093741798 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 61525 58142 170385 88120 378172 250000 250000 250000 250000 1000000 1500000 32838 32838 X false 1587918559 157959701 -31375007 40689 1714462564 1432964225 106431660 48522694 20 1587918559 1290702848 90835204 52095842 669669 1432964225 1082996068 198368872 74241805 1638 64902259 1290702848 1054487114 55364445 -26805224 50267 1082996068 0.99030 0.00930 0.00040 false false 81257667 81257667 1212197168 205348459 1006848709 250051547 168341559 81709988 285252053 35374138 249877915 1419694279 PUBLICLY TRADED EQUITIES 152995947 F TRADITION FIXED INCOME 491366613 F HEDGE FUNDS 137882736 F MULTI-ASSET CLASS 0 F PRIVATE EQUITY/VENTURE CAPITAL 33587094 F COMMODITIES/OTHER ALTERNATIVES 87392918 F 903225308 0 DUE TO/FROM FA FROM C&C JETTING -14413 GIFT ANNUITIES PAYABLE 27826254 OBLIGATIONS UNDER CAPITAL LEASES 760144 AGREEMENT 1181373 29753358 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. true true true true true true true false false false false false false false false true false true 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. Central America and the Caribbean Investments 44949165 Europe (Including Iceland and Greenland) Program Services mission trip/study abr 24253 Sub-Saharan Africa Program Services mission trip/study abr 1523 South America Program Services mission trip/study abr 28931 East Asia and the Pacific Program Services mission trip/study abr 2543 Middle East and North Africa Program Services mission trip/study abr 189319 Europe (Including Iceland and Greenland) Program Services DISTANCE LEARNING 3080 North America Program Services DISTANCE LEARNING 350 Middle East and North Africa Program Services DISTANCE LEARNING 175 East Asia and the Pacific Program Services DISTANCE LEARNING 200 45199539 45199539 false false true true true false LUCOM GALA 19638 15406 4232 677 5033 1359 3241 0 19638 15406 4232 677 5033 1359 3241 10310 -6078 true Liberty University Foundation 1971 University Blvd Lynchburg VA 24502 541939910 501(c)3 628378 Supportive Christian non-profit organization Vineyard Outreach America 815A Brazos St Austin TX 78701 814793936 501(c)3 99000 Issue Based Education Old Time Gospel Hour 1971 University Blvd Lynchburg VA 24502 237293001 501(c)3 36666 Supportive Christian non-profit organization Gainey Foundation 1593 Galbraith Ave Grand Rapids MI 49546 912025454 501(c)3 75000 supportive christian non-profit organization Lynchburg Humane Society Inc 3305 Naval Reserve Rd Lynchburg VA 24501 540570901 501(c)3 6000 Community Support Faith and Freedom Coalition PO Box 957736 Duluth GA 300959540 270182697 501(c)4 100000 non-partisan voter education American Job Alliance Inc PO Box 1665 Chesapeake VA 233271665 274445379 501(c)4 10000 non-partisan voter education Angel Armies Inc PO Box 524 Alpharetta GA 300090524 833682484 501(c)3 50000 Christian Outreach Camp Bahamas Ministries 1116 Moseley Drive Lynchburg VA 245021708 541872460 501(c)3 70000 supportive Christian organization Feed My Starving Children 401 93rd Ave NW Coon Rapids MN 554335822 411601449 501(c)3 48000 Christian Outreach Freedom 424 2306 Bedford Ave Lynchburg VA 245032701 264320885 501(c)3 6495 Christian Outreach Jerry Vines Ministries 202 Pheasant Hills Ct Canton GA 30114 204857233 501(c)3 20000 supportive christian non-profit organization Tim Lee Ministries PO Box 461674 Garland TX 750461674 731268199 501(c)3 55000 supportive christian non-profit organization Johnson Health Center 320 Federal St Lynchburg VA 24504 541287905 501(c)3 8100 COST KN95 masks COVID relief CVFP 1111 Corporate Park Dr STE D Forest VA 24551 541663754 44449 COST KN95 masks COVID relief 12 3 Missionary Assistance 67 175974 Benevolence 43 41946 Institutional Scholarships 94046 293983133 Part IV 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. GRANTS TO 501(C)(4) ORGANIZATIONS ARE CONTRACTUALLY OBLIGATED TO USE FUNDS SOLELY IN A MANNER CONSISTENT WITH APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE GOVERNING 501(C)(3) ORGANIZATIONS. FUNDS ARE PROHIBITED FROM BEING EXPENDED FOR ELECTION PURPOSES, INCLUDING CONTRIBUTIONS TO ANY CANDIDATE OR POLITICAL ORGANIZATION, OR TO INFLUENCE ANY ELECTION FOR PUBLIC OFFICE. 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. X X X X X X true true X X X X true true false false false false false true false Mr Jerry Falwell Chancellor/President 1555610 250000 385000 0 11621 0 2202231 0 0 0 Mr David Corry General Counsel/Secretary 294498 0 14339 0 12076 0 320913 0 0 0 Mr Dan Applewhite Deputy General Counsel/Assista 207042 10274 0 9457 0 226773 0 0 0 Dr Scott Hicks Provost and Chief Academic Off 250386 10661 0 291 0 261338 0 0 0 Mr Don Moon SR VP of Investment Management 258294 12522 0 4826 0 275642 0 0 0 Dr Robert Ritz CFO/Treasurer 338474 14594 0 12406 0 365474 0 0 0 Mr Randall Smith EVP & COO/Management Consultan 313676 15750 0 9486 0 338912 0 0 0 Dr Shawn Akers Online Provost 221308 9583 0 0 0 230891 0 0 0 Mr Trey Falwell VP of University Operations 196229 9750 0 10454 0 216433 0 0 0 Mr John Gauger Chief Information Officer 252726 92515 12475 0 12076 0 369792 0 0 0 Mr Ronald Kennedy EVP of Enrollment & Marketing 310889 241000 15000 0 11916 0 578805 0 0 0 Mr Ian McCaw Director of Athletics 649599 21875 0 12735 0 684209 0 0 0 Mr David Nasser SR VP of Spiritual Development 391958 18044 0 12735 0 422737 0 0 0 Mr Charles Spence SR VP of Facilities Management 235890 9507 0 9822 0 255219 0 0 0 Ms Laura Wallace EVP for Human Resources 304770 14671 0 4826 0 324267 0 0 0 Mr Hugh Freeze Head Coach-Football 1100866 25000 0 12440 0 1138306 0 0 0 Mr Ritchie McKay Head Coach-Men's Basketball 983687 100000 25000 0 12735 0 1121422 0 0 0 Dr Peter Bell Dean, LU College of Osteopathi 439599 22500 0 12440 0 474539 0 0 0 Mr Scott Symons Linebacker Coach 337890 13750 0 11143 0 362783 0 0 0 Mr Richard Austin Tightend Coach 328708 13750 0 11404 0 353862 0 0 0 Mr Turner Gill Former Highly Compensated 573682 0 0 0 0 573682 0 0 0 Dr Lawrence Hine Senior VP of Student Affairs 184973 9009 0 9253 0 203235 0 0 0 Mr Chris Johnson Former Key Employee 110323 5000 0 12263 0 127586 0 0 0 Mr Christian Kennedy Former Officer 179715 9250 0 12735 0 201700 0 0 0 Dr Ronald Hawkins Former Officer 212295 10452 0 9253 0 232000 0 0 0 PART I, LINE 1A: TYPE OF BENEFIT: FIRST-CLASS OR CHARTER TRAVEL 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 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: MENS BASKETBALL COACH WAS THE BENEFIT TREATED AS TAXABLE TO THE LISTED PERSON? THE AMOUNT IS TREATED AS TAXABLE COMPENSATION 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. 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 employees W-2. A VIRGINIA COLLEGE BUILDING AUTHORITY 541249154 927781WR1 2010-12-21 121891446 REFINANCE DEBT,EDUCATIONAL RELATED false false false A 23880025 121891446 0 0 0 0 0 1074238 0 76341830 20596481 0 2013 true false true true A false false true true false 0.00380 0.00010 0.00390 true false false true A true false false 0 false 0 false true A false Schedule K, Part I, Bond issues: PART I COLUMN F: REFINANCE DEBT: 44,476,507 PART I COLUMN F: CONSTRUCT EDUCATIONALLY RELATED FACILITIES: 76,341,830 Jerry Falwell Jr President/Trustee A/R for Services X 114 114 false false true RELATED TO SUBSTANTIAL CONTRIBUTOR RELATED TO SUBSTANTIAL CONTRIBUTOR Real prop. purchase X 292885 273160 false false true 273274 383265 grants to dependents education benefits TIM LEE BOARD MEMBER 7655 FLIGHT ON UNIV AIRCRAFT ASSIST WOUNDED WAR VET Cedar Ridge Management owned by son of board member/officer 12293 compensation false Jennifer Nasser Spouse of Key Employee 31841 compensation false JF Management owned by key employee 63683 compensation false Redfinch Solutions owned by key employee 115200 PAYMENT FOR SERVICES false Wendy Kennedy WIFE OF FORMER OFFICER/KEY EMPLOYEE 108333 compensation false Mallard Services owned by son of key employee 8255 compensation false Native Enterprises owned by son of key employee 271014 compensation false Spence Construction owned by son of key employee 497283 compensation false Bernie Beckles Wife of Board Member 26000 compensation false Brandon Elrod Son in law of Key Employee 53104 compensation false Dr Elmer Towns CO-FOUNDER 123271 compensation false Emily Hine Elrod Daughter of Key Employee 55861 compensation false Jennifer Kennedy Wife of Key Employee 62100 compensation false Jessica Smith Daughter of Key Employee 40493 compensation false Jonathan Wallace Son of Key Employee 77315 compensation false Kathleen Spence Wife of Key Employee 54760 compensation false Laura Falwell Daughter in law of Board Member/Officer 76049 compensation false Nastaran Morgan Sister of Key Employee 56198 compensation false Robert N Ritz Son of Officer 14693 compensation false Sarah Falwell Daughter in law of Board Member/Officer & wife of Key Employee 67389 compensation false Scott Dow Nephew of Officer 43104 compensation false Scott Hawkins Son of a Former Officer 192920 compensation false Vincent Tickle Son in law of Board Member 95766 compensation false Virginia Dow Sister in Law of Officer 96971 compensation false Wesley Falwell Son of Board Member/Officer 101070 compensation false Tonia Kennedy sister in law of key employee 152420 compensation false Mark Akers Son of Officer 60556 compensation false Deidre Akers Daughter-in-law of Officer 40987 COMPENSATION false Melanie Hicks wife of officer 221088 compensation false Christopher Hicks brother of officer 25420 compensation false Jonathan Hicks Nephew of Officer 13372 compensation false Dawson Kennedy Son of Key Employee 11628 compensation false Paul McCaw Son of Key Employee 16220 compensation false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 220926 payment for course development false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 658126 payment for construction servi false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 581645 payment for construction servi false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 444626 payment for fuel false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 100900 payment for construction false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 4769389 payment for investment mgmt false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 609480 payment for services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 536840 payment for heating and air false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 741460 multi-media rights agreement false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 738920 payment for demolition service false X 4 30909 FMV X 2 1250000 FMV X 1 1428737 FMV X Horses 3 85000 FMV X Equipment 3 169350 FMV false true false FORM 990, PART 1, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: Liberty University, Inc. is a distinctively Christian academic community, with the primary mission of providing quality collegiate education. 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 AND MR. JONATHAN FALWELL CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE BROTHERS. MR. TREY FALWELL IS 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 Gilbert Tinney and Will Tinney are father and son. Board members Harvey Gainey and Angela Jordan are father and daughter. Board members David Rhodenhizer and Chris Rhodenhizer are father and son. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 FOR FY JUNE 30, 2020 WAS PROVIDED BEFORE FILING TO THE acting president, IN-HOUSE LEGAL COUNSEL, CHIEF FINANCIAL OFFICER AND THE EXECUTIVE COMMITTEE OF THE BOARD (WHICH IS THE GOVERNING BODY OF THE ORGANIZATION BETWEEN BOARD MEETINGS) FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C: THE SENIOR VP OF INVESTMENT MANAGEMENT COLLECTS ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES. IF A CONFLICT OF INTEREST ARISES, IT IS HANDLED ON A CASE BY CASE BASIS WHERE LEGAL COUNSEL AND THE PRESIDENT OF THE UNIVERSITY DECIDE ON THE MOST APPROPRIATE COURSE OF ACTION. RECUSAL FROM ANY DELIBERATIONS AND VOTE CONCERNING MATTERS IMPACTED BY THE CONFLICT WOULD BE THE TYPICAL SOLUTION. 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 Universitys Articles of Incorporation are filed with the Virginia State Corporation Commission. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: Change in Split Interest Agreement 1,800,500 FORM 990, PART XII, LINe 2b The audit of Liberty University's FY20 financial statements was not yet complete at the time of this filing. Form 990, Part XII, Line 3b The audit of Liberty University's FY20 audited financial statements was not yet complete at the time of this filing. 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