2015-05-15T15:16:30-05:00 2014-06-30 560747981 DIXON HUGHES GOODMAN LLP 4510 COX ROAD SUITE 200 GLEN ALLEN VA 230603394 990 2013-07-01 540946734 LIBERTY UNIVERSITY INC LIBE 4345923237 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DON MOON CFO 4345923237 2015-05-15 1 LESLIE ROBERTS P00040492 8042827636 2013 2016-03-07 17:11:31Z DON MOON 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 1737409392 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. 39 33 9628 5000 4457609 0 16339798 25408018 830727756 922131897 32072005 39027230 5644579 2316008 884784138 988883153 159963351 180360882 0 0 254375572 290812089 0 0 5255287 201854534 234716609 616193457 705889580 268590681 282993573 1564185422 1847567734 458248354 420235925 1105937068 1427331809 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 580101446 180360882 829231325 INSTRUCTION OF APPROXIMATELY 109,085 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. 36448255 87899594 LIBERTY UNIVERSITY MAINTAINS A CAMPUS BOOKSTORE, HOUSING AND DINING FACILITIES, TRANSPORTATION SERVICES, ATHLETIC FACILITIES, BROADCASTING FACILITIES AND OTHER SUPPORTS SERVICES AND FACILITIES ADDING TO THE STUDENT EXPERIENCE. 616549701 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 0 1 588 0 1 9628 1 1 1 1 CJ 0 0 0 1 1 1 1 0 0 0 X 39 33 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 1 0 VA NC X DON MOON CFO 4345923237 1971 UNIVERSITY BOULEVARD LYNCHBURG VA 24515 JERRY FALWELL JR CHANCELLOR/PRESIDENT 55.00 X X 871406 0 51568 MRS GAYE OVERTON BENSON TRUSTEE 2.00 X 0 0 0 DR DAVID RHODENHIZER TRUSTEE 2.00 X 0 0 0 DR JERRY THORPE TRUSTEE 2.00 X 0 0 0 DR DON CRAIN TRUSTEE 2.00 X 0 0 0 MR MARK DEMOSS TRUSTEE 4.00 X 0 0 0 MR HARVEY GAINEY TRUSTEE 2.00 X 0 0 0 DR TIM LEE TRUSTEE 2.00 X 0 0 0 DR ALLEN MCFARLAND TRUSTEE 5.00 X 4200 0 321 DR DWIGHT REIGHARD TRUSTEE 2.00 X 0 0 0 MR GILBERT TINNEY JR TRUSTEE 2.00 X 0 0 0 MR JEFFREY S YAGER TRUSTEE 3.00 X 0 0 0 MR NEAL ASKEW EXECUTIVE VICE PRESIDENT 55.00 X X 235992 0 17755 PASTOR JONATHAN FALWELL TRUSTEE 9.00 X 50000 0 3825 DR GENE MIMS TRUSTEE 2.00 X 0 0 0 DR JERRY PREVO TRUSTEE 2.00 X 0 0 0 DR DOYLE CHAUNCEY TRUSTEE 2.00 X 0 0 0 DR JERRY VINES TRUSTEE 2.00 X 0 0 0 MR FLEET BROWNING TRUSTEE 2.00 X 0 0 0 MR J MARION COMPTON TRUSTEE 2.00 X 0 0 0 REV CARL WEISER TRUSTEE 2.00 X 0 0 0 DR JACK DINSBEER TRUSTEE 2.00 X 0 0 0 MR JOHN HEATH TRUSTEE 2.00 X 0 0 0 MR RICHARD OSBORNE TRUSTEE 2.00 X 0 0 0 MR JEFFREY F BENSON TRUSTEE 2.00 X 0 0 0 MR SHERWIN COOK TRUSTEE 2.00 X 0 0 0 MR JIMMY THOMAS SR TRUSTEE 2.00 X 0 0 0 DR JEFF GINN TRUSTEE 2.00 X 36400 0 2785 DR MARK BECTON TRUSTEE 2.00 X 0 0 0 MR GALEN PEEL SR TRUSTEE 2.00 X 0 0 0 MR CARROLL HUDSON TRUSTEE 4.00 X 0 0 0 DR BEVERLY LAHAYE TRUSTEE 2.00 X 0 0 0 DR TIM LAHAYE TRUSTEE 2.00 X 0 0 0 EVANGELIST WILLIAM F GRAHAM TRUSTEE 2.00 X 0 0 0 MR STEVEN A SNYDER TRUSTEE 2.00 X 0 0 0 PASTOR JASON SUITT TRUSTEE 2.00 X 0 0 0 MR GLEN THOMAS TRUSTEE 2.00 X 0 0 0 MR JIMMY THOMAS JR TRUSTEE 2.00 X 0 0 0 MR ANTHONY BECKLES TRUSTEE 2.00 X 0 0 0 DR RONALD GODWIN SENIOR VP FOR ACADEMIC AFFAIRS/PROVOST 45.00 X 299331 0 33660 MR DON MOON CFO/VP OF INVESTMEMT MANAGEMENT 55.00 X 210960 0 25258 CHRIS JOHNSON EXEC VP FOR ENROLLMENT MGMT 55.00 X 232077 0 30157 BELINDA DEVAULT ASSISTANT SECRETARY 40.00 X 32242 0 7163 JOSEPH SHIPMAN ASSISTANT SECRETARY 40.00 X 55610 0 7829 SAMUEL BEAUMONT SENIOR VP OF AUXILIARY SERVICE 40.00 X 137630 0 24305 DAVID CORRY GENERAL COUNSEL/SECRETARY 40.00 X 137924 0 17093 LAWRENCE HINE SENIOR VP OF STUDENT AFFAIRS 40.00 X 138107 0 26591 RONALD KENNEDY EXEC VP OF MARKETING 40.00 X 171234 0 27938 JOHNNIE MOORE JR SENIOR VP OF COMMUNICATIONS 40.00 X 148389 0 25744 CHARLES SPENCE SENIOR VP OF CONSTRUCTION PLANNING 40.00 X 153283 0 24814 LAURA WALLACE EXC VP OF HUMAN RESOURCES 40.00 X 236911 0 30589 CHRISTIAN KENNEDY EXEC VP FOR SPECIAL PROJECTS 40.00 X 49244 0 8591 RONNIE MARTIN DEAN OF COLLEGE OF OSTEOPATHIC MEDICINE 55.00 X 325466 0 31562 TURNER GILL HEAD COACH - FOOTBALL 55.00 X 687902 0 51383 MR JEFF BARBER ATHLETIC DIRECTOR 55.00 X 296967 0 34758 DALE LAYER BASKETBALL COACH 55.00 X 316205 0 36759 ROBERT RITZ VP FOR FINANCIAL AID & STATE RELATIONS 40.00 X 201338 0 20658 5028818 0 541106 254 0 1 0 ENGLISH CONSTRUCTION COMPANY INC PO BOX P7000 LYNCHBURG VA 24502 CONSTRUCTION 34707815 BRANCH & ASSOCIATES PO BOX 40051 ROANOKE VA 24022 CONSTRUCTION 33541502 PLATTFORM ADVERTISING 3425 MOMENTUM PL CHICAGO IL 60689 ADMISSIONS LEADS GENERATION 19832351 BARTON MALOW COMPANY 100 10TH ST NE STE 100 CHARLOTTESVILLE VA 22902 CONSTRUCTION 10817419 GLASS & ASSOCIATES 1601 WHYTHE RD LYNCHBURG VA 24501 CONSTRUCTION 4793023 215 17702418 7705600 323769 25408018 TUITION AND FEES 611710 830332652 830332652 ROOM & BOARD 611710 60317313 56989452 3327861 STUDENT FEES 611710 15266945 15266945 BOOKSTORE/CONCESSIONS 611710 9617605 9617605 STUDENT ACTIVITIES 611710 6597382 6412080 185302 922131897 21631560 32709 21598851 184247 184247 3886298 198278 2365386 0 1520912 198278 1719190 335797 1383393 762785655 770868 744065539 2095314 18720116 -1324446 17395670 -1324446 18720116 SPONSORSHIPS/ADVERTISING 511120 943800 709981 233819 TENNIS RECREATIONAL CENTER 711210 169143 -18110 187253 OTHER INCOME 611710 -700372 -855240 154868 412571 988883153 917130919 4457609 41886607 2142790 2142790 178218092 178218092 3813975 3165599 610236 38140 226932 188354 36309 2269 234370233 194527294 37499237 2343702 4206665 3491532 673066 42067 31432455 26088937 5029193 314325 16761829 13912318 2681893 167618 249417 207016 39907 2494 901828 748517 144293 9018 354065 293874 56650 3541 42398 35190 6784 424 3977283 3301145 636365 39773 57706508 47896402 9233041 577065 12851591 10666820 2056255 128516 5471361 4541229 875418 54714 9529670 7909626 1524747 95297 516461 428662 82634 5165 10155955 8429442 1624953 101560 7124459 5913301 1139913 71245 727779 604056 116445 7278 10826331 8985855 1732213 108263 26291525 21821966 4206644 262915 3323330 2758364 531733 33233 OTHER SUPPLIES 23678043 19652776 3788487 236780 BAD DEBT EXPENSE 21466505 17817199 3434641 214665 STUDENT FOOD SERVICES 18282056 15174106 2925129 182821 NON CAPITAL EQUIPMENT 7584737 6295332 1213558 75847 13655307 11333907 2184848 136552 705889580 616549701 84084592 5255287 184466383 100034813 200332214 175347942 419249 148138 25145412 87607554 3341601 4384117 202282 186471 4918144 4794604 855265810 196467123 501419387 658798687 539474019 375705495 97285650 431701103 759216 452842 1003401 6421865 7402567 1564185422 1847567734 48381992 59331060 161464293 116473698 220090947 217229730 28311122 27201437 458248354 420235925 X 1090894092 1411694423 5001199 4297602 10041777 11339784 1105937068 1427331809 1564185422 1847567734 X 282993573 37952377 448791 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 42398 42398 705847182 705889580 1000000 250000 0 0 12011 1000000 1000000 1000000 3012011 4518017 60054 165168 23137 42398 290757 3003 250000 250000 250000 753003 1129505 60054 98763 1759 160576 X 0 101837308 20983893 3605535 5015 126421721 58646614 41270965 1959400 39671 101837308 54106338 2476947 2117275 53946 58646614 50659154 1653378 3851499 50158 2007533 54106340 7432405 41881783 1602884 257919 50659153 0.90800 0.08900 0.00300 0 0 64528870 64528870 459355486 95880819 363474667 211399240 87241517 124157723 119982214 13344787 106637427 658798687 LONG/SHORT EQUITY FUNDS 150772503 F MASTER LIMITED PARTNERSHIPS 35469095 F OTHER ASSET BACKED SECURITIES 6024144 F TERM LOANS 239435361 F 431701103 GIFT ANNUITIES PAYABLE 24729998 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 2285343 OBLIGATIONS UNDER CAPITAL LEASES 195249 DUE TO FREEDOM AVIATION FROM C&C JETTING -9153 27201437 X 860626662 37952377 12009224 49961601 810665061 178218092 178218092 988883153 539231920 11560432 11560432 527671488 178218092 178218092 705889580 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, 2014 OF LIBERTY UNIVERSITY DOES 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 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: 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, 2014 AND 2013 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE UNIVERSITY'S RESULTS OF ACTIVITIES. THE UNIVERSITY HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2014. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2011 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT 448,791. REVENUE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 9,195,047. EXPENSE FROM NET RENTAL INCOME 2,365,386. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 178,218,092. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 9,195,046. EXPENSE FROM NET RENTAL INCOME 2,365,386. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 178,218,092. 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. 62300 NORTH AMERICA - CANADA AND MEXICO 0 2 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 85920 MIDDLE EAST AND NORTH AFRICA - 0 3 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 90100 EAST ASIA AND THE PACIFIC - 0 1 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 6300 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 78223326 0 9 0 0 0 9 78467946 0 78467946 1 0 1 1 1 0 1 GRACE CITY CHURCH PO BOX 97815 LAS VEGAS NV 89193 453753315 501(C)(3) 5000 STUDENT INTERNSHIPS SIM (SERVING IN MISSIONS) PO BOX 7900 CHARLOTTE NC 28241 221936391 501(C)(3) 10998 ADVANCE THE GOSPEL OF JESUS CHRIST WORLD HELP PO BOX 501 FOREST VA 24551 541615454 501(C)(3) 72430 SUPPORT OF STUDENTS IN CHRISTIAN MISSIONS TEENPACT 610 MOOREFIELD PARK DRIVE RICHMOND VA 23236 582252295 501(C)(3) 20000 STUDENT LEADERSHIP SCHOOLS ACADEMY OF FINE ARTS 600 MAIN ST LYNCHBURG VA 24504 237061145 501(C)(3) 170681 SUPPORT THE FINE ARTS OF LYNCHBURG SOUTHERN BAPTIST CONSERVATIVES OF VA 4956 DOMINION BLVD GLEN ALLEN VA 23060 541672892 501(C)(3) 34000 STUDENT INTERNSHIPS P & B FOUNDATION 2004 VALENCIA TERRACE CHARLOTTE NC 28226 237083912 501(C)(3) 500000 GLOBAL MISSIONS LIBERTY UNIVERSITY FOUNDATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 541939910 501(C)(3) 1056981 GENERAL SUPPORT OLD TIME GOSPEL HOUR 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 237293001 501(C)(3) 12596 GENERAL SUPPORT THOMAS ROAD BAPTIST CHURCH 1 MOUNTAIN VIEW RD LYNCHBURG VA 24502 260061907 501(C)(3) 60000 GENERAL SUPPORT UNITED WAY 1010 MILLER PARL SQUARE LYNCHBURG VA 24501 540505923 501(C)(3) 25000 DISASTER RELIEF LIBERTY GODPARENT HOME 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 521372460 501(C)(3) 102328 CHRISTIAN OUTREACH FOR UNWED MOTHERS 12 SCHOLARSHIPS 73735 178218092 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, FIELD WORKED AND SUPERIOR SCHOLARSHIP APPLICATION. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JERRY FALWELL JR CHANCELLOR/PRESIDENT 871406 0 0 0 0 0 22500 0 29068 0 922974 0 0 0 MR NEAL ASKEW EXECUTIVE VICE PRESIDENT 235992 0 0 0 0 0 0 0 17755 0 253747 0 0 0 DR RONALD GODWIN SENIOR VP FOR ACADEMIC AFFAIRS/PROVO 299331 0 0 0 0 0 15000 0 18660 0 332991 0 0 0 MR DON MOON CFO/VP OF INVESTMEMT MANAGEMENT 210960 0 0 0 0 0 10300 0 14958 0 236218 0 0 0 CHRIS JOHNSON EXEC VP FOR ENROLLMENT MGMT 232077 0 0 0 0 0 10300 0 19857 0 262234 0 0 0 SAMUEL BEAUMONT SENIOR VP OF AUXILIARY SERVICE 137630 0 0 0 0 0 6760 0 17545 0 161935 0 0 0 DAVID CORRY GENERAL COUNSEL/SECRETARY 137924 0 0 0 0 0 6836 0 10257 0 155017 0 0 0 LAWRENCE HINE SENIOR VP OF STUDENT AFFAIRS 138107 0 0 0 0 0 6850 0 19741 0 164698 0 0 0 RONALD KENNEDY EXEC VP OF MARKETING 171234 0 0 0 0 0 7725 0 20213 0 199172 0 0 0 JOHNNIE MOORE JR SENIOR VP OF COMMUNICATIONS 148389 0 0 0 0 0 7530 0 18214 0 174133 0 0 0 CHARLES SPENCE SENIOR VP OF CONSTRUCTION PLANNING 153283 0 0 0 0 0 7039 0 17775 0 178097 0 0 0 LAURA WALLACE EXC VP OF HUMAN RESOURCES 236911 0 0 0 0 0 11587 0 19002 0 267500 0 0 0 RONNIE MARTIN DEAN OF COLLEGE OF OSTEOPATHIC MEDIC 325466 0 0 0 0 0 11375 0 20187 0 357028 0 0 0 TURNER GILL HEAD COACH - FOOTBALL 687902 0 0 0 0 0 24042 0 27341 0 739285 0 0 0 MR JEFF BARBER ATHLETIC DIRECTOR 296967 0 0 0 0 0 12712 0 22046 0 331725 0 0 0 DALE LAYER BASKETBALL COACH 316205 0 0 0 0 0 14418 0 22341 0 352964 0 0 0 ROBERT RITZ VP FOR FINANCIAL AID & STATE RELATIO 201338 0 0 0 0 0 0 0 20658 0 221996 0 0 0 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. THE CHANCELLOR/PRESIDENT'S TOTAL COMPENSATION WAS DETERMINED BY A COMPREHENSIVE MARKET ANALYSIS CONDUCTED BY AN EXECUTIVE COMPENSATION TEAM IN 2011-2012, BASED ON COMPARATIVE DATA OF TOP EXECUTIVES IN SIMILARLY SITUATED INSTITUTIONS. 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 0.00720 0.01390 0.02110 1 0 1 A 0 1 0 0 0 0 0 0 1 A 1 234712 SCHOLARSHIPS SCHOLARSHIPS ALAN ASKEW SON OF BOARD MEMBER 126591 EMPLOYMENT COMPENSATION 0 REBECCA FALWELL WIFE OF BOARD MEMBER 54371 EMPLOYMENT COMPENSATION 0 PAUL DEMOSS BROTHER OF BOARD MEMBER 28167 CONSULTING SERVICES 0 BERNIE BECKLES WIFE OF BOARD MEMBER 28700 EMPLOYMENT COMPENSATION 0 RYAN D RUSH SON IN LAW OF BOARD MEMBER 31500 EMPLOYMENT COMPENSATION 0 MATT PARKER SON IN LAW OF BOARD MEMBER 41175 EMPLOYMENT COMPENSATION 0 JERRY FALWELL III SON OF BOARD MEMBER 45971 EMPLOYMENT COMPENSATION 0 X 2 39994 STOCK MARKET AVERAGE X HORSES 3 267000 FAIR MARKET VALUE X LANDSCAPING M 1 13275 FAIR MARKET VALUE X BACKHOE 1 3500 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. DR. TIM LAHAYE AND DR. BEVERLY LAHAYE CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE HUSBAND AND WIFE. MR. JEFFREY F. BENSON AND MRS. GAYE OVERTON BENSON CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE HUSBAND AND WIFE. MR. JIMMY THOMAS, SR. AND MR. JIMMY THOMAS, JR. CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE FATHER AND SON. MR. JIMMY THOMAS, SR. AND MR. GLEN THOMAS CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE FATHER AND SON. MR. JIMMY THOMAS, JR. AND MR. GLEN THOMAS CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 FOR FY JUNE 30, 2014 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, LINE 12B: TRUSTEES AND CERTAIN OFFICERS ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS BUT OTHER OFFICERS AND KEY EMPLOYEES ARE NOT REQUIRED TO DISCLOSE ANNUALLY. STARTING FYE 2015, THERE IS A REQUIREMENT FOR ALL OFFICERS AND KEY EMPLOYEES TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE COMMITTEE REVIEWS THE CONFLICT OF INTEREST ANNUALLY OR WHEN A NEW BOARD MEMBER IS APPOINTED TO THE BOARD. 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. THE CHANCELLOR/PRESIDENT'S TOTAL COMPENSATION WAS DETERMINED BY A COMPREHENSIVE MARKET ANALYSIS CONDUCTED BY AN EXECUTIVE COMPENSATION TEAM IN 2011-2012, BASED ON COMPARATIVE DATA OF TOP EXECUTIVES IN SIMILARLY SITUATED INSTITUTIONS. 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 448,791. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. C&C JETTING 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 540946734 AIRFARE FOR UNIVERSITY AFFAIRS VA -862670 5606084 LIBERTY UNIVERSITY INC LU PLAZA HOLDINGSLLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 270217985 REAL ESTATE HOLDINGS VA 422425 19673744 LIBERTY UNIVERSITY INC LU CANDLERS STATION HOLDINGSLLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 271753489 REAL ESTATE HOLDINGS VA 1171804 22081296 LIBERTY UNIVERSITY INC LIBERTY RIDGE LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 270714028 REAL ESTATE HOLDINGS VA 164824 1835931 LIBERTY UNIVERSITY INC LU RAQUET SPORTS LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 274785690 RECREATION VA -109677 75446 LIBERTY UNIVERSITY INC LIBERTY MOUNTAIN CONFERENCE CENTER LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 275427434 CENTER FOR EDUCATIONAL CONFERENCES VA 20289 1093517 LIBERTY UNIVERSITY INC IVY HILL RECREATION LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 460903360 RECREATION VA -18499 2810652 LIBERTY UNIVERSITY INC MORNING STAR BROADCASTING LLC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 463731118 TELEVISION BROADCASTING VA -21039 1411535 LIBERTY UNIVERSITY INC THOMAS ROAD BAPTIST CHURCH CORPORATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 260061907 RELIGIOUS VA 501(C)(3) LINE 1 0 LIBERTY UNIVERSITY FOUNDATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 541939910 RELIGIOUS DC 501(C)(3) LINE 9 N/A 0 FALWELL AVIATION INC DBA FREEDOM AVIATION 310 HANGAR ROAD LYNCHBURG VA 24502 540755641 PROVIDES FLIGHT INSTRUCTION TO STUDENTS AND CHARTER SERVICES TO PUBLIC VA LIBERTY UNIVERSITY INC C -91864 5921194 1.00000 1 LIBERTY MOUNTAIN CAPITAL INC 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 272376207 INVESTMENT HOLDINGS COMPANY VA LIBERTY UNIVERSITY INC C -1918 299305 1.00000 1 G&J THOMAS INC PO BOX 228 FOREST VA 24551 450596703 STUDENT HOUSING VA LIBERTY UNIVERSITY INC S 33243 2240948 1.00000 1 1 1 0 1 0 0 0 0 0 1 1 1 1 1 1 1 0 0 0 FALWELL AVIATION INC DBA FREEDOM AVIATION A 32709 ACCRUAL G&J THOMAS INC P 377685 CASH