Liberty University Inc
- Assets
- $3.9b
- Revenue
- $1.5b
- Investments
- $1.1b
- Employees
- 12,037
- 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 06/2022, Liberty University Inc employed 12,037 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 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $1.2b during the year ending 06/2021. While expenses have increased by 4.7% per year over the past 7 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 88 individual grants totaling $14,518,853. 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
990
Mission & Program ActivityExcerpts From the 990 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:
Part 3 - Line 4a
INSTRUCTION OF APPROXIMATELY 130,000 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 Danny H Freeze Jr Head Coach - Football | 55 | $3,422,437 | |
Mr Ritchie L Mckay Head Coach - Basketball | 55 | $1,328,945 | |
Dr Jerry Prevo Trustee/president | OfficerTrustee | 54 | $1,017,244 |
Mr Ian Mccaw Director Of Athletics | Officer | 55 | $828,221 |
Mr David Nasser Sr. VP For Spiritual Developmt | Officer | 55 | $592,573 |
Mr Ronald Kennedy Evp For Enrollment & Marketing | Officer | 55 | $473,519 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Google Llc Admissions Lead Gen. | 6/29/22 | $31,221,217 |
Sodexo Mgmt Inc-liberty Uni Loca Food Service | 6/29/22 | $27,511,121 |
James R Vannoy Sons Constr Co In Construction | 6/29/22 | $7,152,771 |
Meta Platforms Inc Admissions Lead Gen. | 6/29/22 | $6,631,373 |
Sycom Technologies Llc It Service Mgmt | 6/29/22 | $6,359,787 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,452,653 |
| 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 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 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 | $0 |
| 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 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,460,938,851 |
Grants Awarded
Over the last fiscal year, Liberty University Inc has awarded $2,286,231 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRA HEALTH FOUNDATION INC PURPOSE: community support | $25,285 |
CONCERNED WOMEN FOR AMERICA PURPOSE: sponsorship of leadership summit | $50,000 |
FRIENDS OF LYNCHBURG PUBLIC LIBRARY PURPOSE: community support | $20,000 |
HOPE PARTNERS INTERNATIONAL PURPOSE: supportive Christian organization | $414,960 |
JUBILEE FAMILY DEVELOPMENT CENTER PURPOSE: community support | $25,000 |
LEGACY COLLEGE INC PURPOSE: community support | $50,000 |