2018-05-15T15:46:40-05:00 2017-06-30 560747981 DIXON HUGHES GOODMAN LLP 901 EAST CARY STREET SUITE 1000 RICHMOND VA 23219 990 2016-07-01 540946734 LIBERTY UNIVERSITY INC LIBE 4345923237 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DON MOON CFO/VP of Investment Mgmt 4345923237 2018-05-15 1 Amy Bibby P00445891 8042827636 2018-05-15 2016 2022-09-23 18:48:47Z DON MOON 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 1888506592 0 X WWW.LIBERTY.EDU X 1972 VA 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. 31 22 12755 11000 5648974 44294 20246077 13964116 1013111816 1037526114 -6154121 50245699 32901348 9574570 1060105120 1111310499 221984807 228112008 0 0 340762124 356454861 0 0 4486779 281839177 292715544 844586108 877282413 215519012 234028086 2265165058 2571559687 450422401 467549845 1814742657 2104009842 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. 0 0 716482482 228112008 920105541 Instruction of approximately 101,951 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. 43633258 0 142983394 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. 760115740 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 1 1 1 1 1 1 1 0 0 1 1 1 1 0 0 1 990 0 1 12755 1 1 1 0 0 0 0 1 1 0 0 0 1 1 0 X 31 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 VA AL NH OR SC WA WI ND NY NJ MD AK X Don Moon 4345923237 1971 UNIVERSITY BOULEVARD LYNCHBURG VA 24515 Mr Jerry Falwell CHANCELLOR/President 55.00 0.50 X X 959802 0 58725 Mr Neal Askew TrUSTEE 9.00 X 0 0 0 Mrs Gaye Overton Benson TRUSTEE 2.00 X 0 0 0 Mr Jeffrey F Benson TRUSTEE 2.00 X 0 0 0 Mr Fleet Browning TRUSTEE 2.00 X 0 0 0 Mr Brian Autry TRUSTEE 2.00 X 0 0 0 Dr Don Crain TRUSTEE 2.00 X 0 0 0 Dr Jack Dinsbeer TRUSTEE 2.00 X 0 0 0 Pastor Jonathan Falwell TRUSTEE & Vice Chancellor of Spiritual 9.00 2.00 X 50000 0 3825 Mr Harvey Gainey TRUSTEE 2.00 X 0 0 0 Dr Ronald Godwin TrUSTEE 2.00 X 0 0 0 Evangelist William F Graham TRUSTEE 2.00 X 0 0 0 Mr John Heath TRUSTEE 2.00 X 0 0 0 Mr Carroll Hudson TRUSTEE 4.00 4.00 X 0 0 0 Evangelist Tim Lee TRUSTEE 2.00 X 3000 0 0 Dr Allen McFarland TRUSTEE & adjunct professo 5.00 X 4200 0 321 Dr Gene Mims TRUSTEE 2.00 X 0 0 0 Mr Richard Osborne TRUSTEE 2.00 X 0 0 0 Mr Galen Peel Sr TRUSTEE 2.00 X 0 0 0 Dr Jerry Prevo TRUSTEE & Chairman 2.00 X 0 0 0 Mr Harold Rawlings TRUSTEE 2.00 X 0 0 0 Dr Dwight Reighard TRUSTEE 2.00 X 0 0 0 Dr David Rhodenhizer TRUSTEE 2.00 X 0 0 0 Mr Steven A Snyder TRUSTEE 2.00 X 0 0 0 Pastor Jason Suitt TRUSTEE & Adjunct professor 5.00 X 4200 0 321 Dr Jerry Thorpe TRUSTEE 2.00 X 0 0 0 Mr Gilbert Tinney Jr TRUSTEE 2.00 X 0 0 0 Dr Jerry Vines TRUSTEE 2.00 X 0 0 0 Mr Duke Westover TRUSTEE 2.00 X 0 66753 0 Mr Jeffery S Yager TRUSTEE 3.00 X 0 0 0 Mr Anthony Beckles TRUSTEE 2.00 1.00 X 0 0 0 David Corry General Counsel/Secretary 55.00 X 241004 0 34839 Ron Hawkins Provost & Chief Academic Officer 55.00 X 257524 0 32945 Don Moon CFO/VP of Investment Mgmt 55.00 2.00 X 251770 0 28688 Randall Smith EVP & COO 55.00 X 365591 0 37305 Dr Ben Gutierrez Co-Provost & VP for Academic Affairs 55.00 5.00 X 199098 0 19638 Jeff Barber Director of Athletics 55.00 X 331894 0 38924 Samuel Beaumont Senior VP of Auxiliary Service 55.00 X 208784 0 29968 Lawrence Hine Senior VP of Student Affairs 55.00 5.00 X 179753 0 29570 Chris Johnson Executive VP for Resident Enrollment 55.00 X 276888 0 35039 Ronald Kennedy Executive VP of Online Enrollment 55.00 X 244887 0 34660 David Nasser Sr. VP for Spiritual Development 55.00 X 349411 0 29442 Charles Spence SR. VP OF CAMPUS FACILITIES & TRANSPORTATION 55.00 X 238707 0 31611 Laura Wallace Executive VP of Human Resources 55.00 X 289560 0 31032 Robert Ritz Sr. VP for University Financial services 55.00 X 224904 0 32864 Alan Askew VP of Major Construction 55.00 X 193764 0 28961 John Gauger CIO & VP of Analytics 55.00 X 180843 0 30984 Turner Gill Head Coach - Football 55.00 X 893219 0 54062 Ronnie Martin Dean College of Osteopathic medicine 55.00 X 347090 0 33165 Ritchie McKay Head Coach, Men's Basketball 55.00 X 591356 0 52345 Carey Green Head Coach, Women's Basketball 55.00 X 267079 0 32119 Brian Faulkner Dean School of Law 55.00 X 264911 0 36245 Dale Layer Former highly compensated employee 55.00 X 286763 0 0 7706002 66753 777598 361 1 1 0 Construction Management Associates Inc PO Box 3020 Lynchburg VA 24503 CoNSTRUCTION 62708112 Google Inc PO Box 7247-7366 Philadelphia PA 19170 Admissions Leads Generation 17415069 Glass & Associates Inc 1601 Wythe Rd Lynchburg VA 24501 CoNSTRUCTION 14219880 HigherEducationcom 1001 McKinney St Ste 400 Houston TX 77002 Admissions Leads Generation 5871390 Microsoft Online Inc PO Box 847543 Dallas TX 75284 Admissions Leads Generation 3212120 102 73141 3254597 10636378 324647 13964116 TUITION AND FEES 611710 931701079 931701079 ROOM & BOARD 611710 77263683 73194734 4068949 STUDENT FEES 611710 12024297 12024297 STUDENT ACTIVITIES 611710 9972871 9765154 207717 BOOKSTORE/CONCESSIONS 611710 6564184 6564184 1037526114 17240009 16850 17223159 399606 399606 5821624 143332 3551171 64179 2270453 79153 2349606 143331 2206275 781895097 24637089 773129244 397252 8765853 24239837 33005690 24239837 8765853 67828 73141 54247 13581 13581 OTHER INCOME 611710 3287899 2524273 763626 Student Travel Fees 561500 1904118 1904118 SPONSORSHIPS/ADVERTISI 511120 1038319 589818 448501 581441 581441 6811777 1111310499 1063088935 5648974 28608474 2287341 2287341 225824667 225824667 6460446 5362170 1053053 45223 1320504 1096018 215242 9244 275128605 228356742 44845963 1925900 6463119 5364389 1053488 45242 47368964 39316240 7721141 331583 19713223 16361975 3213255 137993 3258788 3258788 297680 297680 61526 51066 10029 431 4645585 4645585 3846975 3192989 627057 26929 23267027 19311633 3792525 162869 5389610 4473377 878506 37727 22572115 18734855 3679255 158005 613067 508846 99930 4291 10343466 8585077 1685985 72404 10561859 8766343 1721583 73933 901946 748615 147017 6314 10554011 8759829 1720304 73878 42740768 35474838 6966745 299185 2903609 2409996 473288 20325 Purchased Services 56990048 47301740 9289378 398930 STUDENT FOOD SERVICES 26498275 21993568 4319219 185488 NON CAPITAL EQUIPMENT 18831973 15630537 3069612 131824 OTHER SUPPLIES 14612438 12128324 2381827 102287 33824778 28074565 5513439 236774 877282413 760115740 112679894 4486779 41310788 20155593 422698141 154549612 72826698 101093605 0 457947 3290686 2399512 140697 322811 14468589 14115548 1454957384 304492180 947064035 1150465204 258794081 389387764 495675078 730388817 3541138 5440129 860567 792535 4494560 1990610 2265165058 2571559687 52816330 70103244 151337067 156970249 209950530 207769474 36318474 32706878 450422401 467549845 X 1798655900 2087057966 2585845 3338088 13500912 13613788 1814742657 2104009842 2265165058 2571559687 X 234028086 49693935 5545164 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 61525 61525 877220888 877282413 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 42398 27801 80303 61525 212027 250000 250000 250000 250000 1000000 1500000 X X displayed in various buildings 0 1082996068 198368872 74241805 1638 64902259 1290702848 1054487114 55364445 -26805224 50267 1082996068 126421721 925685737 2489259 109603 1054487114 101837308 20983893 3605535 5015 126421721 58646614 41270965 1959400 39671 101837308 0.98890 0.01050 0.00060 0 0 100979873 100979873 854748128 142066284 712681844 218544603 141108356 77436247 280684780 21317540 259367240 1150465204 Long/short equity funds 444460127 F Other asset backed securities 4628398 F term loans 224570990 F Master LP 13693483 F Joint Venture 43035819 F 730388817 GIFT ANNUITIES PAYABLE 31093447 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 1634476 Due to Freedom Aviation from C&C Aviation -21045 32706878 X 961294724 49693935 613350 25354284 75661569 885633155 225677344 225677344 1111310499 672027537 613350 19809118 20422468 651605069 225677344 225677344 877282413 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, 2017 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." During FYE 2017 various art pieces were donated and put on display in the 3rd floor ballroom of the Montview Student Union. 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. During FYE 2017 various art pieces were donated and put on display in the 3rd floor ballroom of the Montview Student Union. 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: UNIVERSITY INTENDS TO MAXIMIZE THE TOTAL RETURN ON ITS RETURN ON ENDOWMENT FUNDS, AND, AS SPECIFIED IN THE UNDERLYING AGREEMENTS, IT USES THE SPENDABLE PORTION FOR PURPOSES OF THE FOLLOWING: AWARDING SCHOLARSHIPS AND GRANTS TO STUDENTS; UNIVERSITY OPERATING EXPENSES; AND CHRISTIAN MINISTRY OUTREACH. 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, 2017 and 2016 would not have a significant impact on the University's results of activities. Certain subsidiaries of the University are taxed as seperate entities. Part XI, Line 2d - Other Adjustments: Change in split interest agreement 5,545,168. REVENUE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 16,139,519. EXPENSE FROM NET RENTAL INCOME 3,615,350. Fundraising Direct Expenses 54,247. Part XI, Line 4b - Other Adjustments: INSTITUTIONAL SCHOLARSHIPS 220,879,707. Financial Aid & Discounts 4,797,637. Part XII, Line 2d - Other Adjustments: EXPENSE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 16,139,521. EXPENSE FROM NET RENTAL INCOME 3,615,350. Fundraising Direct Expenses 54,247. Part XII, Line 4b - Other Adjustments: INSTITUTIONAL SCHOLARSHIPS 220,879,707. Financial Aid & Discounts 4,797,637. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 LIBERTY UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE, AND FOLLOWS A RACIALLY NON-DISCRIMINATORY POLICY AS TO STUDENTS. THIS POLICY IS ONLINE AND IN ALL THE BROCHURES AND CATALOGS DEALING WITH ADMISSION AND SCHOLARSHIPS. Schedule E, Part I, Line 6 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. Europe (Including Iceland & Greenland) - 0 3 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 31080 North America - Canada and Mexico 0 2 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 42200 Middle East and North Africa - 0 2 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 34780 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 47491862 Central America and the Caribbean 0 0 program services mission trips & study abroad 35532 Europe (Including Iceland & Greenland) 0 0 program services mission trips & study abroad 171778 Middle East and North Africa 0 0 program services mission trips & study abroad 46944 Russia and Neighboring States 0 0 program services mission trips & study abroad 611 South Asia 0 0 program services mission trips & study abroad 1434 Sub-Saharan Africa 0 0 program services mission trips & study abroad 119184 0 7 0 0 0 7 47854787 120618 47975405 1 0 1 1 1 0 Sports management golf tournament 51219 43690 7529 1921 3696 192 Golf Tournament 42115 42115 19675 7168 1885 890 2 47634 29451 18183 771 6914 5000 6134 140968 73141 67827 771 21596 10864 8991 5000 7024 54246 13581 1 LIBERTY UNIVERSITY FOUNDATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 541939910 501(C)(3) 893883 Supportive Christian Non-Profit Organization Academy Center of the Arts 600 Main Street LYNCHBURG VA 24504 237061145 501(C)(3) 500000 Donation Gleaning for the World PO Box 645 Lumberton NC 24538 541930105 501(C)(3) 12785 Global Missions Tim Lee Ministries PO Box 461674 Garland TX 75046 731268199 501(C)(3) 5000 General Donation University of Georgia Foundation 394 S Milledge Ave Athens GA 30605 586033837 501(C)(3) 10000 Donation for botanical garden Central VA Foundation for Economic Education & Improvement 2015 Memorial Ave LyNCHBURG VA 24501 541255814 501(C)(3) 100000 Donation to building fund 6 SCHOLARSHIPS 85206 220879707 Book N/A missionary assistance 45 147323 book n/a Benevolence 3 24800 Book N/A Part I, Line 2: DONATIONS ARE MADE TO NONPROFIT ORGANIZATIONS WHOSE PURPOSES ARE CONSISTENT WITH THE RELIGIOUS AND EDUCATIONAL PURPOSES OF LIBERTY UNIVERSITY. LIBERTY UNIVERSITY MAINTAINS CONTACT WITH ORGANIZATIONS TO ENSURE THE USE OF THE FUNDS ARE APPROPRIATE. 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 1 1 X X X 0 0 0 0 0 0 0 0 0 Mr Jerry Falwell CHANCELLOR/President 953503 0 0 0 6299 0 27000 0 31725 0 1018527 0 0 0 David Corry General Counsel/Secretary 240879 0 0 0 125 0 11903 0 22936 0 275843 0 0 0 Ron Hawkins Provost & Chief Academic Officer 257399 0 0 0 125 0 12503 0 20442 0 290469 0 0 0 Don Moon CFO/VP of Investment Mgmt 251645 0 0 0 125 0 12303 0 16385 0 280458 0 0 0 Randall Smith EVP & COO 365466 0 0 0 125 0 15278 0 22027 0 402896 0 0 0 Dr Ben Gutierrez Co-Provost & VP for Academic Affairs 198973 0 0 0 125 0 7526 0 12112 0 218736 0 0 0 Jeff Barber Director of Athletics 281166 0 0 0 50728 0 15906 0 23018 0 370818 0 0 0 Samuel Beaumont Senior VP of Auxiliary Service 208659 0 0 0 125 0 10253 0 19715 0 238752 0 0 0 Lawrence Hine Senior VP of Student Affairs 179628 0 0 0 125 0 8852 0 20718 0 209323 0 0 0 Chris Johnson Executive VP for Resident Enrollment 246064 0 0 0 30824 0 12503 0 22536 0 311927 0 0 0 Ronald Kennedy Executive VP of Online Enrollment 244762 0 0 0 125 0 12003 0 22657 0 279547 0 0 0 David Nasser Sr. VP for Spiritual Development 349286 0 0 0 125 0 17004 0 12438 0 378853 0 0 0 Charles Spence SR. VP OF CAMPUS FACILITIES & TRANSP 238582 0 0 0 125 0 11253 0 20358 0 270318 0 0 0 Laura Wallace Executive VP of Human Resources 289435 0 0 0 125 0 14091 0 16941 0 320592 0 0 0 Robert Ritz Sr. VP for University Financial serv 224904 0 0 0 0 0 10162 0 22702 0 257768 0 0 0 Alan Askew VP of Major Construction 193764 0 0 0 0 0 8283 0 20678 0 222725 0 0 0 John Gauger CIO & VP of Analytics 180843 0 0 0 0 0 8920 0 22064 0 211827 0 0 0 Turner Gill Head Coach - Football 882899 0 0 0 10320 0 21667 0 32395 0 947281 0 0 0 Ronnie Martin Dean College of Osteopathic medicine 347090 0 0 0 0 0 12250 0 20915 0 380255 0 0 0 Ritchie McKay Head Coach, Men's Basketball 570311 0 0 0 21045 0 24000 0 28345 0 643701 0 0 0 Carey Green Head Coach, Women's Basketball 267079 0 0 0 0 0 11343 0 20776 0 299198 0 0 0 Brian Faulkner Dean School of Law 264911 0 0 0 0 0 12753 0 23492 0 301156 0 0 0 Dale Layer Former highly compensated employee 286763 0 0 0 0 0 0 0 0 0 286763 0 0 0 Part I, Line 1a TYPE OF BENEFIT: FIRST-CLASS OR CHARTER TRAVEL LISTED PERSON WHO RECEIVED THE BENEFIT: PRESIDENT OF LIBERTY UNIVERSITY WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? FOR BUSINESS TRAVEL THE AMOUNT IS NEITHER REIMBURSED NOR IS TAXABLE; FOR PERSONAL TRAVEL, LIBERTY UNIVERSITY IS REIMBURSED SO AMOUNT IS NOT TAXABLE TYPE OF BENEFIT: TRAVEL FOR COMPANIONS LISTED PERSON WHO RECEIVED THE BENEFIT: PRESIDENT OF LIBERTY UNIVERSITY WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? FOR PERSONAL TRAVEL, LIBERTY UNIVERSITY IS REIMBURSED SO AMOUNT IS NOT TAXABLE 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. COMPENSATION IS FURTHER REVIEWED DURING THE BUDGETING PROCESS. A VIRGINIA COLLEGE BUILDING AUTHORITY 541249154 927781WR1 2010-12-21 121891446 Refinance debt, educational related new construction 0 0 0 A 23880025 121891446 1074238 76341830 20595353 2013 1 0 0 1 A 0 0 1 1 0 0.00650 0.02330 0.02980 1 0 1 A 1 0 0 0 0 1 A 1 Part I Column F: Refinance debt: 44,476,507 Part I Column F: Construct educationally related facilities: 76,341,830 substantial contributor Substantial Contributor Construction management agent for LU projects X 750000 457947 0 0 1 457947 424825 Grants to Dependents of Board Members, officers, & key employees education benefits for dependents of employees Thomas road baptist church related party 22000000 Liberty University purchased school buildings and land from Thomas Road Ba 0 Bernie Beckles Wife OF BOARD MEMBER 18494 Compensation 0 Laura Falwell Daughter in law of board member and Officer 56915 compensation 0 jennifer kennedy wife of a key employee 51887 compensation 0 Brandon Elrod son in law of key employee 39341 compensation 0 Sarah Falwell Daughter in law of board member and Officer 56840 compensation 0 JF Management owned by son of BOARD MEMBER and officer 50117 compensation 0 wesley falwell son of BOARD MEMBER and officer 51463 compensation 0 Jessica Smith Daughter of a Key Employee 23986 compensation 0 Jerry Falwell III son of BOARD MEMBER and officer 119113 compensation 0 Jonathan Wallace Son of a key employee 79166 compensation 0 joshua spence Son of a key employee 42638 compensation 0 kathleen spence Wife of a key employee 54466 compensation 0 Nastaran Morgan Sister of a key employee 44774 compensation 0 Ryan D Rush Son in law OF BOARD MEMBER 34556 compensation 0 Scott Hawkins Son of an officer 208681 compensation 0 Tammy Gutierrez Wife of an officer 81060 compensation 0 Vincent Tickle Son in law OF BOARD MEMBER 77498 compensation 0 Virginia Dow Sister in Law of a key employee 97157 compensation 0 Donna Barber Wife of key employee 10092 compensation 0 Dr Elmer Towns Co-founder 122257 compensation 0 Redfinch Solutions Business owned by key employee 123950 Payment paid for services; rent received 0 substantial contributor substantial contributor 114833 payment for equipment and software renewal 0 substantial contributor substantial contributor 196059 payment for equipment 0 substantial contributor substantial contributor 504849 payments for fuel, payments received for advertising 0 substantial contributor substantial contributor 25003223 payment for construction services, payment received for suite rental and ad 0 substantial contributor substantial contributor 4742601 payment for investment management services 0 substantial contributor substantial contributor 145038503 payment for construction services, payment received for rent & interest 0 substantial contributor substantial contributor 105698 payment for heating and air installation and service, payments received for 0 substantial contributor substantial contributor 44892 payment for rent & payments received for advertising 0 Schedule L, Part IV, Business Transactions Involving Interested Persons The compensation amounts also include benefits. X 2 39112 FAIR MARKET VALUE X 3 30614 FAIR MARKET VALUE X Horses 7 239500 FAIR MARKET VALUE X Video Equipment 1 8596 FAIR MARKET VALUE X Oriental Rug 1 4700 FAIR MARKET VALUE X Christmas Decorations 1 2125 FAIR MARKET VALUE 0 1 0 Form 990, Part VI, Section A, line 2 MR. JERRY FALWELL, JR. AND MR. JONATHAN FALWELL CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE BROTHERS. 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, 2017 was provided before filing to the Chancellor/President, In-house Legal Counsel, Chief Financial officer, director of accounting 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 CFO 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 annually BY THE EXECUTIVE COMMITTEE. COMPARABLE SALARY DATA IS REVIEWED WHEN SALARIES ARE SET AND ADJUSTED TO DETERMINE THE REASONABLENESS OF THE COMPENSATION. COMPENSATION IS FURTHER REVIEWED DURING THE BUDGETING PROCESS. Form 990, Part VI, Section C, line 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, line 9: CHANGE IN SPLIT INTEREST AGREEMENT 5,545,164. Form 990, Part XII, Line 2c: The organization did not change its oversight process or selection process during the tax year. C&C Jetting LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 540946734 AIRFARE FOR UNIVERSITY AFFAIRS VA -2140396 8774419 LIBERTY UNIVERSITY INC Ivy Hill Recreation LLC 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 460903360 RecrEATION VA -34407 2762352 lIBERTY UNIVERSITY INC LIBERTY MOUNTAIN CONFERENCE CENTER LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 275427434 CENTER FOR EDUCATIONAL CONFERENCES VA -13674 285496 LIBERTY UNIVERSITY INC LIBERTY RIDGE LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 270714028 REAL ESTATE HOLDINGS VA 247338 9907349 LIBERTY UNIVERSITY INC LU CANDLERS STATION HOLDINGSLLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 271753489 REAL ESTATE HOLDINGS VA 831216 25073532 LIBERTY UNIVERSITY INC LU PLAZA HOLDINGSLLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 270217985 REAL ESTATE HOLDINGS VA 603512 25750042 LIBERTY UNIVERSITY INC Morning Star Broadcasting LLC 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 463731118 television broadcasting VA 22861940 24673064 liBERTY UNIVERSITY INC crossroads investments llc 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 473991939 real ESTATE HOLDINGS VA 2183 349209 lIBERTY UNIVERSITY INC liberty mountain medical group llc 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 472935244 medical education VA -531838 518256 lIBERTY UNIVERSITY INC Burton Realty I 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 540946734 REAL ESTATE HOLDINGS VA 4124 7977131 lIBERTY UNIVERSITY INC Burton Realty II 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 540946734 REAL ESTATE HOLDINGS VA 4299 8316584 lIBERTY UNIVERSITY INC Burton Realty III 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 540946734 REAL ESTATE HOLDINGS VA 88 169726 lIBERTY UNIVERSITY INC Burton Realty IV 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 540946734 REAL ESTATE HOLDINGS VA 88 169726 lIBERTY UNIVERSITY INC Burton Realty V 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 540946734 REAL ESTATE HOLDINGS VA 88 169726 lIBERTY UNIVERSITY INC Burton Realty VI 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 540946734 REAL ESTATE HOLDINGS VA 88 169726 lIBERTY UNIVERSITY INC liberty motion picture company 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 465653798 cinematic arts VA -21788 34563 lIBERTY UNIVERSITY INC airport plaza holdings llc 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 471347963 reaL ESTATE HOLDINGS VA 417449 7136239 lIBERTY UNIVERSITY INC Red Tie Music LLC 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 461340766 To facilitate the publishing efforts of students VA 21586 154312 lIBERTY UNIVERSITY INC Liberty Health Services LLC 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 475575947 investment in medical entities to achieve medical school COCA Accreditation VA 16846 2184396 lIBERTY UNIVERSITY INC LUCOM Graduate Medical Education Services LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 540946734 Medical Health Education VA 0 0 lIBERTY UNIVERSITY INC Thomas Road Baptist Church Corporation 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 260061907 RELIGIOUS VA 501(c)(3) Line 1 board of trustees 0 LIBERTY UNIVERSITY FOUNDATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 541939910 RELIGIOUS DC 501(c)(3) Line 10 Liberty University Inc 1 Old Time Gospel Hour 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 237293001 RelIGIOUS VA 501(c)(3) Line 10 Liberty University Inc 1 Liberty Christian Academy 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 540831546 Primary and Secondary Education VA 501(c)(3) Line 2 Liberty University Inc 1 liberty university endowment trust 1971 UNIVERSITY BLVD lYNCHBURG VA 24515 541851119 reLIGIOUS VA 501(c)(3) Line 10 liberty University Inc 1 River Ridge Mall JV LLC 2030 Hamilton Place Blvd Suite 500 Chattanooga TN 374216000 811762010 Rental Real Estate TN Liberty University Inc Investment/Unrelated 2547878 44309269 0 55650 0 0.75000 Freedom Aviation 310 HANGAR ROAD LYNCHBURG VA 24502 540755641 PROVIDES FLIGHT INSTRUCTION TO STUDENTS AND CHARTER SERVICES TO PUBLIC VA LIBERTY UNIVERSITY INC C 471245 6304266 1.00000 1 G&J THOMAS Inc 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 450596703 STUDENT HOUSING VA LIBERTY UNIVERSITY INC S 112116 4922879 1.00000 1 LIBERTY MOUNTAIN CAPITAL Inc 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 272376207 INVESTMENT HOLDINGS COMPANY VA LIBERTY UNIVERSITY INC C 76024 457527 1.00000 1 1 1 0 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 Freedom Aviation A 108302 ACCRUAL Old time gospel hour A 15416 aCCRUAL liberty university foundation B 893883 aCCRUAL Freedom Aviation B 462923 ACCRUAL freedom Aviation D 3500000 acCRUAL old time gospel hour D 311778 aCCRUAL Freedom Aviation J 186491 aCCRUAL G&J Thomas Inc K 468435 aCCRUAL Freedom Aviation M 4186665 aCCRUAL liberty christian academy Q 137342 aCCRUAL