2020-07-15T14:42:34-05:00 2019-06-30 BDO USA LLP 1100 Peachtree Street Suite 700 ATLANTA GA 303094516 990 2018-07-01 540946734 LIBERTY UNIVERSITY INC % DR ROBERT RITZ LIBE 4345924800 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DR ROBERT RITZ CFO 4345923237 2020-07-15 true Sandra L Feinsmith P01064157 4046886841 2020-07-15 38.132.154.29 58727420201975000028 2020-07-15 P A48637A4D3A10C935CF123510934335F52266694 49B7E525DB458F3B8483401679EF34D770FF257C 2018 2021-01-29 14:40:06Z DR ROBERT RITZ 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 2176565849 false X WWW.LIBERTY.EDU X 1972 VA SEE SCHEDULE O 28 20 11754 11000 5096577 1338322 28909244 24340904 1082668020 1229034114 33001962 22156313 14735745 14063754 1159314971 1289595085 236085315 286400909 0 0 362201824 396548827 0 0 2473311 308233066 318166043 906520205 1001115779 252794766 288479306 2812938906 3127381424 432447188 430680756 2380491718 2696700668 LIBERTY UNIVERSITY, INC. IS A CHRISTIAN ACADEMIC COMMUNITY IN THE TRADITION OF EVANGELICAL INSTITUTIONS OF HIGHER EDUCATION, WITH THE PRIMARY MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION. false false 732698107 286400909 1061176471 INSTRUCTION OF APPROXIMATELY 111,084 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. 136025031 0 164022981 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. 868723138 true true false true false false false true false true true true false false true true false true 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 1749 0 true 11754 true true true false false false false true true false false false true true false false false X 28 20 true false false false false false false true true false false true true true true true true true true true true 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 1099356 0 59655 Mr Anthony Beckles Trustee 4.0 1.0 X 0 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 John Borek Jr Trustee & Adjunct Professor 5.0 0.0 X 17800 0 0 Dr Don Crain Trustee 4.0 0.0 X 0 0 0 Pastor Jonathan Falwell Trustee/Vice Chancellor of Spi 9.0 2.0 X 50000 0 0 Mr Harvey Gainey Trustee 2.0 0.0 X 0 0 0 Evangelist William F Graham Trustee 2.0 0.0 X 0 0 0 Mr Pierre Guillermin Trustee 2.0 0.0 X 0 0 0 Mr John Heath Trustee 4.0 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 Dr Allen McFarland Trustee & Adjunct Professor 5.0 0.0 X 2800 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 2.0 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 2.0 0.0 X 0 0 0 Mr Steven A Snyder Trustee 4.0 0.0 X 0 0 0 Mr Jason Suitt Trustee & Adjunct Professor 0.0 0.0 X 3990 0 0 Mr Gilbert Tinney Jr Trustee 2.0 0.0 X 0 0 0 Dr Jerry Vines Trustee 2.0 0.0 X 0 0 0 Mr Duke Westover Trustee 4.0 0.0 X 0 33376 0 Mr Jeffery S Yager Trustee 4.0 0.0 X 0 0 0 Mr David Corry General Counsel/Secretary 55.0 0.0 X 246114 0 36459 Mr Dan Applewhite Deputy General Counsel/Assista 55.0 0.0 X 201785 0 21933 Dr Scott Hicks Provost and Chief Academic Off 55.0 0.0 X 330645 0 22962 Mr Don Moon SR VP of Investment Management 55.0 2.0 X 258135 0 29906 Dr Robert Ritz EVP Finance 55.0 0.0 X 314339 0 39334 Mr Randall Smith EVP & COO 55.0 0.0 X 311903 0 38164 Mr Trey Falwell VP of University Operations 55.0 0.0 X 207388 0 26922 Mr John Gauger CIO 55.0 0.0 X 252810 0 36916 Dr Lawrence Hine Senior VP of Student Affairs 55.0 5.0 X 183422 0 29560 Mr Chris Johnson EVP for Resident Enrollment 55.0 0.0 X 225124 0 33386 Mr Ronald Kennedy EVP of Enrollment & Marketing 55.0 0.0 X 393245 0 39417 Mr Ian McCaw Director of Athletics 55.0 0.0 X 492115 0 50903 Mr David Nasser SR VP of Spiritual Development 55.0 0.0 X 366593 0 41340 Mr Charles Spence SR VP of Facilities Management 55.0 0.0 X 239197 0 33252 Dr Shawn Akers Online Provost 55.0 0.0 X 183592 0 17520 Ms Laura Wallace EVP for Human Resources 55.0 0.0 X 339217 0 32902 Mr Turner Gill Head Coach-Football 55.0 0.0 X 756221 0 54513 Mr Ritchie McKay Head Coach-Men's Basketball 55.0 0.0 X 600790 0 54479 Dr Peter Bell Dean, LU College of Osteopathi 55.0 0.0 X 439915 0 48909 Mr Carey Green Head Coach-Women's Basketball 55.0 0.0 X 313539 0 34743 Mr Brian Faulkner Dean, School of Law 55.0 0.0 X 254092 0 37801 Mr Christian Kennedy Former Officer 40.0 0.0 X 121255 0 24386 Dr Ronald Hawkins Former Officer 40.0 0.0 X 255617 0 34198 Dr Ben Gutierrez Former Key Employee 40.0 5.0 X 212560 0 27650 8673559 33376 907210 428 true true false Construction Management Associates PO Box 3020 LYNCHBURG VA 24503 Construction 36026177 English Construction Company Inc 615 Church Street LYNCHBURG VA 24504 Construction 10492624 Google Inc 1600 Amphitheatre Pkwy MOUNTAIN VIEW CA 94043 Admissions Lead Gene 18502483 highereducationcom 1001 KcKinney St Ste 400 HOUSTON TX 77002 Admissions Lead Gene 4347855 microsoft online inc PO Box 847543 DALLAS TX 75284 Admissions Lead Gene 4041192 159 9807 9000388 15330709 174882 24340904 TUITION AND FEES 611710 1121667585 1121667585 ROOM & BOARD 611710 84764165 81243383 3520782 STUDENT ACTIVITIES 611710 11509822 11509822 STUDENT FEES 611710 7406156 7406156 BOOKSTORE/CONCESSIONS 611710 3686386 3686386 1229034114 20132627 341281 19791346 0 285301 285301 12998285 124295 11813639 1184646 124295 1308941 124295 1184646 874201578 2934491 860523447 14588936 13678131 -11654445 2023686 -11654445 13678131 63470 9807 44742 18728 18728 0 0 0 0 0 0 OTHER INCOME 611710 8941059 8075273 865786 STUDENT TRAVEL FEES 561500 2379603 2379603 SPONSORSHIPS/ADVERTISING 511120 1130122 885689 244433 12450784 1289595085 1225199452 5096577 34958152 X 4633755 4633755 281767154 281767154 0 0 9563093 6311641 3251452 1739844 1148297 591547 310573684 271229529 38063150 1281005 6625874 4820390 1772354 33130 45594469 33886089 11463143 245237 22451863 17699629 4668530 83704 0 1352914 1352914 239636 239636 170385 170385 0 5632836 5632836 5832128 3556780 2271900 3448 17055550 8923319 7785984 346247 5337170 3388029 1858307 90834 38834801 24513431 14312185 9185 617205 403271 213934 11325609 10231811 1093798 14273474 12981748 1172403 119323 0 1057532 686380 369201 1951 7045879 6668869 377000 10 0 51527208 48770502 2756706 4735915 490193 4245722 PURCHASED SERVICES 70871745 70310973 504639 56133 STUDENT FOOD SERVICES 27165909 26943462 174655 47792 SUPPLIES 17681366 14726065 2914989 40312 NON CAPITAL EQUIPMENT 12746245 7582869 5162049 1327 24662536 7048952 17499911 113673 1001115779 868723138 129919330 2473311 25537275 3465233 257554719 260022494 0 0 39843001 64067607 0 175627 356125 0 1375944 3637289 349092 453064 15183535 17033223 1670868075 361913039 1258649379 1308955036 392123074 784840644 789848196 650404431 8828874 13469535 717733 649700 22571959 20207541 2812938906 3127381424 71082091 68688052 0 0 126407226 127695672 0 201886441 0 0 0 0 205052835 650000 0 0 29905036 31760591 432447188 430680756 X 2359931414 2672903339 4794568 7949333 15765736 15847996 2380491718 2696700668 2812938906 3127381424 X 288479306 28569831 -840187 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170385 170385 1000945394 1001115779 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 80303 61525 58142 170385 370355 250000 250000 250000 250000 1000000 1500000 X X DISPLAYED IN VISITOR CENTER false 1432964225 106431660 48522694 20 1587918559 1290702848 90835204 52095842 669669 1432964225 1082996068 198368872 74241805 1638 64902259 1290702848 1054487114 55364445 -26805224 50267 1082996068 126421721 925685737 2489259 109603 1054487114 0.98900 0.01000 0.00100 false false 159136925 159136925 1155437726 187505586 967932140 223856142 144655168 79200974 132437282 29752285 102684997 1308955036 MULTI-ASSET CLASS 619172307 F PRIVATE EQUITY 11620648 F OTHER 19611476 F 650404431 0 DUE TO/FROM FA FROM C&C JETTING -17457 GIFT ANNUITIES PAYABLE 30343307 OBLIGATIONS UNDER CAPITAL LEASES 214836 INTEREST AGREEMENT 1219905 31760591 X 1040714314 28569831 1646039 0 -1441634 28774236 1011940078 0 277655007 277655007 1289595085 724505364 1646039 0 0 -601447 1044592 723460772 277655007 277655007 1001115779 Part III, Line 1A: LIBERTY UNIVERSITY HAS A COLLECTION OF SEVERAL ANIMAL TROPHIES DONATED BY A LOCAL RESIDENT. THE AUDITED FINANCIAL STATEMENTS OF THE FISCAL YEAR ENDING JUNE 30, 2019 OF LIBERTY UNIVERSITY DO NOT CONTAIN A FOOTNOTE DESCRIBING THIS COLLECTION BECAUSE IT WAS DONATED SEVERAL YEARS AGO. HOWEVER, A FOOTNOTE WITHIN THE AFS DOES DESCRIBE THE ACCOUNTING POLICY OF LIBERTY UNIVERSITY IN ACCOUNTING FOR CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES, AND OTHER SIMILAR ITEMS: "CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS HELD AS PART OF COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED." Part III, Line 4: LIBERTY UNIVERSITY HAS A COLLECTION OF SEVERAL ANIMAL TROPHIES DONATED BY A LOCAL RESIDENT. THE ANIMAL TROPHIES ARE DISPLAYED WITHin THE UNIVERSITY'S FACILITIES FOR ThE EDUCATION AND ENJOYMENT OF STUDENTS AND VISITORS. THERE IS NO ADMISSION CHARGE FOR VIEWING THE COLLECTION AND LIBERTY UNIVERSITY DOES NOT ADVERTISE THAT THE COLLECTION IS 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 X, Line 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE UNIVERSITY QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. MANAGEMENT BELIEVES THAT ANY INCOME TAX LIABILITY RESULTING FROM UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2019 AND 2018 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE UNIVERSITY'S RESULTS OF ACTIVITIES. CERTAIN SUBSIDIARIES OF THE UNIVERSITY ARE TAXED AS SEPARATE ENTITIES. The impact of taxes from taxable entities is not material to the accompanying consolidated financial statements and therefore such information has not been itemized herein. Part XI, Line 2D - Other Adjustments: Rent Expense netted with rent revenue on line 6b 11,813,639 Tax adjustment for subs requiring separate returns 23,780,291 Fundraising expense netted with fundraising rev. on line 8b 44,742 ASU 606 reclass for books not for tax (30,607,283) Change in split interest agreements not recognized for tax (840,187) Invest. expense not netted for tax return: Part X line 11f (5,632,836) TOTAL TO PART XI, LINE 2D (1,441,634) Part XI, Line 4B: INSTITUTIONAL SCHOLARSHIPS 277,655,007 TOTAL TO Part XI, LINE 4B 277,655,007 Part XII, Line 2D - Other Adjustments: Rent Expense netted with rent revenue on line 6b 11,813,639 Tax adjustment for subs requiring separate returns 23,780,291 Fundraising expense netted with fundraising rev. on line 8b 44,742 ASU 606 reclass for books not for tax (30,607,283) Invest. expense not netted for tax return: Part X line 11f (5,632,836) Total to Part XII, Line 2d (601,447) Part XII, Line 4B - Other Adjustments INSTITUTIONAL SCHOLARSHIPS 277,655,007 TOTAL TO Part XII, LINE 4B 277,655,007 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 70078724 Central America and the Caribbean 0 0 Program Services mission trip/study abr 17811 South America 0 0 Program Services mission trip/study abr 5176 North America 0 0 Program Services mission trip/study abr 35151 Europe (Including Iceland and Greenland) 0 0 Program Services mission trip/study abr 338745 South Asia 0 0 Program Services mission trip/study abr 10431 East Asia and the Pacific 0 0 Program Services mission trip/study abr 58021 Middle East and North Africa 0 0 Program Services mission trip/study abr 248695 Sub-Saharan Africa 0 0 Program Services mission trip/study abr 61025 Europe (Including Iceland and Greenland) 0 3 Program Services DISTANCE LEARNING 29600 North America 0 1 Program Services DISTANCE LEARNING 18500 Middle East and North Africa 0 1 Program Services DISTANCE LEARNING 13100 0 5 0 5 70914979 70914979 false false true true true false LUCOM GALA 13400 9807 3593 0 838 0 5844 694 3575 GOLF TOURNAMENT 51966 0 51966 0 18219 7029 1284 0 1092 1 7911 0 7911 0 746 2500 0 0 2921 73277 9807 63470 0 19803 9529 7128 694 7588 44742 18728 true Liberty University Foundation 1971 University Blvd Lynchburg VA 24515 541939910 501(c)3 736706 Supportive Christian non-profit organization Citizens United 1006 Pennsylvania Ave SE Washington DC 200024958 911433368 501(c)4 300000 issue based education Heritage Action for America 214 Massachusetts Ave NE Washington DC 200024958 272244700 501(c)4 300000 issue based education Vineyard Outreach America 815A Brazos St Austin TX 787012502 814793936 501(c)3 300000 Issue Based Education University of Lynchburg 1501 Lakeside Dr Lynchburg VA 245013113 540505922 501(c)3 250000 Community Support Lynchburg Regional Business Alliance 2015 Memorial Ave Lynchburg VA 24501 540165020 501(c)6 100000 Community Support Old Time Gospel Hour 1971 University Blvd Lynchburg VA 24515 237293001 501(c)3 43284 Supportive Christian non-profit organization Gainey Foundation 1593 Galbraith Ave Grand Rapids MI 49546 912025454 501(c)3 40000 Supportive Christian non-profit organization The Chapel at Rosemary Beach PO Box 611041 Rosemary Beach FL 324611000 205751679 501(c)3 20000 Disaster relief The Family Resource Center 2317 Commandant Gade St Thomas VI 00802 660423539 501(c)3 14777 Disaster Relief Primera Iglesia Bautista De Arecibo PO Box 9564 Cotto Station Arecibo PR 00613 660508800 501(c)3 9317 Disaster Relief A Simple Faith Church PO BOX 4943 Santa Rosa Beach FL 32439 260607033 501(c)3 6015 Hurricane Relief Lynchburg Humane Society Inc 1211 Old Graves Mill Rd Lynchburg VA 24502 540570901 501(c)3 6000 Community Support Liberty Christian Academy 3701 Candlers Mountain Rd Lynchburg VA 24502 540831546 501(c)3 6203 cost maintenance material Supportive Christian non-profit organization University of Lynchburg 1501 Lakeside Dr Lynchburg VA 245013113 540505922 501(c)3 126198 cost parking lot Community Support Ramp Church 701 Thomas Road Lynchburg VA 24502 593819255 501(c)3 11174 cost maintenance material Community Support Faith and Freedom Coalition 3700 CRESTWOOD PKWY NW STE 975 Duluth GA 300967212 270182697 501(c)4 2225000 NonPartisan voter education 13 4 Missionary Assistance 65 185667 Benevolence 49 91570 Scholarships 92875 276940472 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 false false false false false false true false Mr Jerry Falwell Chancellor/President 1099356 0 0 0 0 0 24500 0 35155 0 1159011 0 0 0 Mr David Corry General Counsel/Secretary 246114 0 0 0 0 0 12115 0 24344 0 282573 0 0 0 Mr Dan Applewhite Deputy General Counsel/Assista 201785 0 0 0 0 0 9809 0 12124 0 223718 0 0 0 Dr Scott Hicks Provost and Chief Academic Off 230645 0 100000 0 0 0 8982 0 13980 0 353607 0 0 0 Mr Don Moon SR VP of Investment Management 258135 0 0 0 0 0 12522 0 17384 0 288041 0 0 0 Dr Robert Ritz EVP Finance 314339 0 0 0 0 0 14000 0 25334 0 353673 0 0 0 Mr Randall Smith EVP & COO 311903 0 0 0 0 0 15750 0 22414 0 350067 0 0 0 Mr Trey Falwell VP of University Operations 207388 0 0 0 0 0 10167 0 16755 0 234310 0 0 0 Mr John Gauger CIO 252810 0 0 0 0 0 12475 0 24441 0 289726 0 0 0 Dr Lawrence Hine Senior VP of Student Affairs 183422 0 0 0 0 0 9009 0 20551 0 212982 0 0 0 Mr Chris Johnson EVP for Resident Enrollment 225124 0 0 0 0 0 10150 0 23236 0 258510 0 0 0 Mr Ronald Kennedy EVP of Enrollment & Marketing 268245 0 125000 0 0 0 13264 0 26153 0 432662 0 0 0 Mr Ian McCaw Director of Athletics 492115 0 0 0 0 0 22500 0 28403 0 543018 0 0 0 Mr David Nasser SR VP of Spiritual Development 366593 0 0 0 0 0 17307 0 24033 0 407933 0 0 0 Mr Charles Spence SR VP of Facilities Management 239197 0 0 0 0 0 11453 0 21799 0 272449 0 0 0 Dr Shawn Akers Online Provost 183592 0 0 0 0 0 6897 0 10623 0 201112 0 0 0 Ms Laura Wallace EVP for Human Resources 289217 0 50000 0 0 0 14342 0 18560 0 372119 0 0 0 Mr Turner Gill Head Coach-Football 756221 0 0 0 0 0 24500 0 30013 0 810734 0 0 0 Mr Ritchie McKay Head Coach-Men's Basketball 600790 0 0 0 0 0 24500 0 29979 0 655269 0 0 0 Dr Peter Bell Dean, LU College of Osteopathi 439915 0 0 0 0 0 22500 0 26409 0 488824 0 0 0 Mr Carey Green Head Coach-Women's Basketball 313539 0 0 0 0 0 12111 0 22632 0 348282 0 0 0 Mr Brian Faulkner Dean, School of Law 254092 0 0 0 0 0 12849 0 24952 0 291893 0 0 0 Dr Ben Gutierrez Former Key Employee 212560 0 0 0 0 0 9081 0 18569 0 240210 0 0 0 Mr Christian Kennedy Former Officer 121255 0 0 0 0 0 6167 0 18219 0 145641 0 0 0 Dr Ronald Hawkins Former Officer 255617 0 0 0 0 0 12600 0 21598 0 289815 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: 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 Head Football Coach, Turner Gill resigned effective 12/14/2018, and received all compensation through 12/14/2018 as per normal HR practice with a resignation. In addition, the University and Coach Gill executed a contract addendum effective 12/3/2018 that specified a set dollar amount that Coach Gill would receive to conclude his contract pay with the University. This set dollar amount was paid 1/15/2019. 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 1074238 0 0 76341830 20596481 0 2013 true false true true A false false true true false 0.01450 0.00020 0.01470 true false false true A true false false 0 false 0 false true A false Schedule K, Part I, Bond issues: (F) Description of Purpose REFINANCE DEBT,EDUCATIONAL RELATED NEW CONSTRUCTION PART I COLUMN F: REFINANCE DEBT: 44,476,507 PART I COLUMN F: CONSTRUCT EDUCATIONALLY RELATED FACILITIES: 76,341,830 Jerry Falwell President/Trustee A/R for Services X 175627 175627 false true true related to substantial contributor related to substantial contributor Real Prop. Purchase X 292885 288331 false false true 463958 439634 Grants to Dependents Education Benefits Tim Lee Board Member 12739 flight on univ. aircraft assist wounded war vets Bernie Beckles Wife of Board Member 20500 compensation false Brandon Elrod Son in law of Key Employee 51119 compensation false Wendy Kennedy Spouse of Former Officer 91667 compensation false Dr Elmer Towns Co-founder 133585 compensation false Emily Hine Elrod Daughter of Key Employee 57201 compensation false Jennifer Kennedy Wife of Key Employee 60600 compensation false Jennifer Nasser Wife of Key Employee 67619 compensation false Jessica Smith Daughter of Key Employee 41811 compensation false Jonathan Wallace Son of Key Employee 78395 compensation false Kathleen Spence Wife of Key Employee 58333 compensation false Laura Falwell Daughter in law of Board Member/Officer 59193 compensation false Nastaran Morgan Sister of Key Employee 53826 compensation false Robert N Ritz Son of Officer 32433 compensation false Rudy Nasser Son of Key Employee 25550 compensation false Sarah Falwell Wife of Key Employee 72211 compensation false Scott Dow Nephew of Officer 33942 compensation false Scott Hawkins Son of Former Officer 195103 compensation false Tammy Gutierrez Wife of former key employee 28280 compensation false Vincent Tickle Son in law of Board Member 100033 compensation false Virginia Dow Sister in Law of Officer 91581 compensation false Wesley Falwell Son of Board Member/Officer 78489 compensation false Cedar Ridge Management owned by son of board member/officer 40748 payment for services false JF Management owned by key employee 46340 payment for services false Redfinch Solutions owned by key employee 96000 payment for services false Spence Construction Remodeling owned by the son of a key employee 125217 construction services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 506369 demolition services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 283567 survey, engineer, planning false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 584004 Fuel Services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 389645 heating and air installation false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 36170574 construction services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 860759 media services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 4697824 investment management services false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 5773212 sponsorship false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 329409 vehicle repair services false Part II, Line 2 Due to security concerns related to using outside contractors, the University performed repair and renovation work on the presidents personal residence which is also used for University purposes. Upon completion and invoicing, the president promptly reimbursed the University for these costs on August 15, 2019. See disclosure below. X 4 46003 FMV X Horses 2 19900 FMV X Equipment 2 108979 FMV false true false FORM 990, PART 1, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: LIBERTY UNIVERSITY, INC. IS A CHRISTIAN ACADEMIC COMMUNITY IN THE TRADITION OF EVANGELICAL INSTITUTIONS OF HIGHER EDUCATION, WITH THE PRIMARY MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION. 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. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 FOR FY JUNE 30, 2019 WAS PROVIDED BEFORE FILING TO THE CHANCELLOR/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 AND, PURSUANT TO THE BYLAWS, BRINGS ANY DISCLOSED CONFLICTS OF INTEREST TO THE AUDIT COMMITTEE. IF A CONFLICT OF INTEREST ARISES IT IS HANDLED ON A CASE BY CASE BASIS WHERE LEGAL COUNSEL, THE CHAIRMAN OF THE BOARD OF TRUSTEES 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 and the audited financial statements are available on the DAC Bond website. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: Change in Split Interest Agreement (840,187) FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. C&C Aviation LLC 1971 University Blvd Lynchburg VA 24515 540946734 Univ. 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