Liberty University Inc
- Assets
- $3.9b
- Revenue
- $1.5b
- Investments
- $1.1b
- Employees
- 11,573
- Location
- Lynchburg, VA
- Founding
- 01/1974
- Data as of
- 06/2021
- EIN
- 54-0946734
Organization Overview
Liberty University Inc is located in Lynchburg, VA. The organization was established in 1974. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Liberty University Inc employed 11,573 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty University Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Liberty University Inc generated $1.5b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $1.2b during the year ending 06/2021. While expenses have increased by 5.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Liberty University Inc has awarded 84 individual grants totaling $13,489,710. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LIBERTY UNIVERSITY, INC. IS A DISTINCTIVELY CHRISTIAN ACADEMIC COMMUNITY, WITH A MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION TRAINING CHAMPIONS FOR CHRIST.
Describe the Organization's Program Activity:
INSTRUCTION OF APPROXIMATELY 128,656 STUDENTS IN UNDERGRADUATE, GRADUATE AND DOCTORAL PROGRAMS FOR BOTH THE ONLINE AND RESIDENTIAL PROGRAMS. SCHOLARSHIPS, GRANTS AND OTHER FINANCIAL ASSISTANCE ARE AWARDED TO ELIGIBLE STUDENTS BASED ON PROGRAM CRITERIA, WHICH INCLUDED SCHOLASTIC MERIT, ATHLETIC EXCELLENCE, ARTISTIC PERFORMANCE, FINANCIAL NEED, HIGH SCHOOL ATTENDED AND FIELD WORKED.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Jerry Falwell Chancellor/president | OfficerTrustee | 55 | $3,528,967 |
Mr Hugh Freeze Head Coach-Football | 55 | $2,033,545 | |
Mr Ritchie Mckay Head Coach-Men's Basketball | 55 | $1,087,484 | |
Mr Ian Mccaw Director Of Athletics | Officer | 55 | $623,984 |
Mr Ronald Kennedy Evp Of Enrollment & Marketing | Officer | 55 | $571,450 |
Mr David Corry General Counsel/secretary | Officer | 55 | $483,112 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Google Inc Admissions Lead Gen. | 6/29/21 | $25,970,547 |
Construction Management Associates Construction | 6/29/21 | $27,045,962 |
Sodexo Inc Affiliates-liberty Uni Food Service | 6/29/21 | $23,388,878 |
James R Vannoy Sons Constn Co In Construction | 6/29/21 | $10,439,829 |
Hms Holdings Ltp Hendrick Motorspo Branding Initiative | 6/29/21 | $5,780,268 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $30,000 |
| Government grants | $33,622,310 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,800,343 |
| Noncash contributions included in lines 1a–1f | $444,077 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,452,653 |
| Total Program Service Revenue | $1,407,719,569 |
| Investment income | $16,206,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $318,462 |
| Net Rental Income | -$2,449,567 |
| Net Gain/Loss on Asset Sales | $42,760,645 |
| Net Income from Fundraising Events | $13,892 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,515,953,706 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,313,518 |
| Grants and other assistance to domestic individuals. | $324,770,361 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $10,287,674 |
| Compensation of current officers, directors, key employees. | $3,497,809 |
| Compensation to disqualified persons | $2,379,288 |
| Other salaries and wages | $351,899,230 |
| Pension plan accruals and contributions | $8,501,864 |
| Other employee benefits | $52,612,533 |
| Payroll taxes | $26,334,595 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,820,358 |
| Fees for services: Accounting | $298,286 |
| Fees for services: Lobbying | $301,033 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,483,602 |
| Fees for services: Other | $5,781,551 |
| Advertising and promotion | $19,049,456 |
| Office expenses | $6,145,026 |
| Information technology | $45,331,406 |
| Royalties | $468,852 |
| Occupancy | $12,999,034 |
| Travel | $8,222,375 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $395,959 |
| Interest | $6,149,676 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,533,499 |
| Insurance | $4,837,441 |
| All other expenses | $56,810,066 |
| Total functional expenses | $1,165,679,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,659,158 |
| Savings and temporary cash investments | $391,616,347 |
| Pledges and grants receivable | $416,840 |
| Accounts receivable, net | $33,607,320 |
| Loans from Officers, Directors, or Controlling Persons | $859,690 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,631,215 |
| Inventories for sale or use | $1,340,347 |
| Prepaid expenses and deferred charges | $14,438,353 |
| Net Land, buildings, and equipment | $1,450,534,059 |
| Investments—publicly traded securities | $860,248,918 |
| Investments—other securities | $1,135,515,033 |
| Investments—program-related | $14,199,070 |
| Intangible assets | $1,235,245 |
| Other assets | $7,729,378 |
| Total assets | $3,931,030,973 |
| Accounts payable and accrued expenses | $84,372,367 |
| Grants payable | $0 |
| Deferred revenue | $160,581,155 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $194,994,010 |
| Other liabilities | $30,144,590 |
| Total liabilities | $470,092,122 |
| Net assets without donor restrictions | $3,429,256,394 |
| Net assets with donor restrictions | $31,682,457 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,931,030,973 |
Grants Awarded
Over the last fiscal year, Liberty University Inc has awarded $1,134,141 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Boone, NC PURPOSE: supportive christian organization | $200,050 |
St Petersburg, FL PURPOSE: supportive christian organization | $200,000 |
Houston, TX PURPOSE: global surge efforts | $160,000 |
Canton, GA PURPOSE: supportive christian organization | $100,000 |
Garland, TX PURPOSE: supportive christian organization | $100,000 |
HILLSIDE BAPTIST CHURCH PURPOSE: Dr Jack Baskin initiative | $68,200 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Liberty University Inc has recieved totaling $73,942.
| Awarding Organization | Amount |
|---|---|
Tazewell Community Foundation Tazewell, VA PURPOSE: EDUCATIONAL | $54,030 |
Champion For Christ Foundation Inc Greenville, SC PURPOSE: TO SUPPORT THE COST AND EXPENSES OF HIGHER LEARNING | $7,500 |
Naphcare Charitable Foundation Birmingham, AL PURPOSE: COLLEGE SCHOLARSHIP FOR SAMUEL BODINE | $4,412 |
Gerald F Smith Scholarship Foundati On Winchester, VA PURPOSE: SCHOLARSHIP | $2,500 |
Clarence H Martin Trust Scholarship Fund Dallas, TX PURPOSE: SCHOLARSHIP FBO KATE MURPHY | $2,500 |
Dorothy Maes Tr Uw 05-025-2148000 Dallas, TX PURPOSE: SCHOLARSHIP | $2,000 |
Endowment Analysis
| Beg. Balance | $1,714,462,564 |
| Earnings | $225,222,906 |
| Net Contributions | $216,931,978 |
| Other Expense | $18,852 |
| Ending Balance | $2,156,598,596 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Howard University Washington, DC | $1,667,010,000 | $1,025,632,000 |
American University Washington, DC | $2,059,436,434 | $862,369,744 |
Wake Forest University Winstonsalem, NC | $2,570,183,256 | $681,736,258 |
University Of Richmond Richmond, VA | $3,926,462,707 | $713,801,637 |
Belmont University Nashville, TN | $1,474,473,117 | $464,356,154 |
Catholic University Of America Washington, DC | $943,835,203 | $334,648,312 |
Elon University Elon, NC | $1,076,200,947 | $374,224,853 |
Loyola University Maryland Inc Baltimore, MD | $700,282,931 | $288,447,259 |
Campbell University Inc Buies Creek, NC | $678,742,436 | $263,777,466 |
Lipscomb University Nashville, TN | $502,799,879 | $216,257,194 |
Gallaudet University Washington, DC | $475,474,360 | $202,751,628 |
Hampton University Hampton, VA | $893,877,520 | $270,327,094 |