2024-05-14T15:35:53-05:00 2023-06-30 BDO USA 421 Fayetteville Street Suite 300 Raleigh NC 27601 990 2022-07-01 540946734 LIBERTY UNIVERSITY INC % DR ROBERT RITZ LIBE 4345924800 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DR ROBERT RITZ CFO 4345923237 2024-05-13 true DR ROBERT RITZ 999009999 SANDRA L FEINSMITH P01064157 9192781936 2024-05-13 3 2022 2023-04-26 12:10:37Z DR ROBERT RITZ 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 2815381928 false X WWW.LIBERTY.EDU X 1972 VA LIBERTY UNIVERSITY, INC. IS A DISTINCTIVELY CHRISTIAN ACADEMIC COMMUNITY, WITH A MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION TRAINING CHAMPIONS FOR CHRIST. 27 18 13165 10765 34113253 3245142 29324690 30915325 1483885774 1464462952 56917248 31160973 23978952 39137298 1594106664 1565676548 345349344 343170765 0 0 506430364 575149217 0 0 5567119 432307085 462746446 1284086793 1381066428 310019871 184610120 3991603424 4157125287 464621438 308542889 3526981986 3848582398 LIBERTY UNIVERSITY, INC. 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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. 209776235 0 134098107 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. 1165835693 true true false true false false false true false true true true false false true false false true true true true false false false true false false true true true false false false true true true true true true true false false true true true true false false true 1023 0 true 13165 true true true false false false false true true false false false true true false true false X 27 18 true false false false false false false true true false false true true true true true true true true true false NH NY OR SC WA X DR ROBERT RITZ 4345924800 1971 UNIVERSITY BLVD Lynchburg VA 24515 X Mr Danny H Freeze Jr Head Coach - Football 55.0 0.0 X 3793248 0 40181 Mr Ritchie L McKay Head Coach - Basketball 55.0 0.0 X 1402383 0 61577 Dr Jerry Prevo Trustee/President 54.0 1.0 X X 991455 0 32763 Mr Ian McCaw Director of Athletics 55.0 0.0 X 827522 0 61577 Dr Robert Ritz Chief Fin. Officer/Treasurer 53.0 2.0 X 586079 0 61577 Mr David Corry General Counsel/Secretary 55.0 0.0 X 445473 0 34176 Mr James Chadwell Head Coach - Football 55.0 0.0 X 479629 0 0 Dr Ronald Kennedy EVP for Enrollment & Marketing 55.0 0.0 X 398422 0 61227 Dr Scott Hicks Provost & Chief Academic Off. 54.0 1.0 X 416214 0 18374 Mr Scott Jackson Head Coach - Baseball 55.0 0.0 X 376041 0 54782 Dr Mark F Horstemeyer Dean, School of Engineering 55.0 0.0 X 368095 0 40782 Dr Shawn Akers Online Provost 55.0 0.0 X 382624 0 8050 Mrs Cindy Gaebe SVP of Fin.& Chief Invest Off. 50.0 5.0 X 330704 0 13343 Mr Don Moon FORMER OFFICER 40.0 0.0 X 273735 0 52318 Mr John Gauger Chief Information Officer 55.0 0.0 X 291504 0 27155 Mr Daniel Deter VP of Major Construction 55.0 0.0 X 291813 0 25676 Rev Glenn Clary EVP of Strategic P'ships 55.0 0.0 X 255026 0 58360 Mr Steve Foster EVP of Human Resources 55.0 0.0 X 263471 0 41077 Mr Craig Pettitt VP of Real Estate Management 55.0 0.0 X 250465 0 40343 Mr Charles Spence SVP of Campus Facilities & Tra 54.5 0.5 X 252713 0 37860 Mr Shon Muldrow SVP of Inclusion, Divers & Eqy 55.0 0.0 X 252577 0 36405 Mr Daniel Applewhite Deputy Gen. Counsel/Asst. Secy 55.0 0.0 X 239381 0 24101 Dr Lawrence Hine Senior VP of Student Affairs 45.0 10.0 X 215970 0 37342 Mr Scott Spear VP of Finance & Administration 53.0 2.0 X 191609 0 18977 Pastor Jonathan Falwell Trustee/Chancellor 20.0 3.0 X X 208510 0 0 Mr Matthew Cooper VP of Student Financial Svcs 55.0 0.0 X 159578 0 20968 Mr Chris Johnson Former Key Employee 40.0 0.0 X 133050 0 18693 Mr Anthony Beckles Trustee/Online Chair 42.0 1.0 X 107812 0 16373 Mr Gilbert Tinney Jr Trustee 3.0 0.0 X 74599 0 0 Dr David Rhodenhizer Trustee 3.0 0.0 X 51712 0 0 Mr Jeffery S Yager Trustee 2.0 0.0 X 46486 0 0 Dr Brian Autry Trustee & Adjunct Professor 27.0 0.0 X 44000 0 0 Dr John Borek Jr Trustee & Adjunct Professor 27.0 0.0 X 40600 0 0 Mr Chris Rhodenhizer Trustee 2.0 0.0 X 32675 0 0 Dr Don Crain Trustee 2.0 0.0 X 22575 0 0 Evangelist William F Graham Trustee 2.0 0.0 X 11900 0 0 Evangelist Tim Lee Trustee 3.0 0.0 X 10599 0 0 Mr Galen Peel Sr Trustee 2.0 0.0 X 1385 0 0 Mr Duke Westover Trustee 2.0 0.0 X 1125 0 0 Mr Carroll Hudson Trustee 3.0 0.0 X 510 0 0 Dr Gene Mims Trustee 2.0 0.0 X 510 0 0 Dr Allen McFarland Trustee 2.0 0.0 X 500 0 0 Ms Penny Nance Trustee 2.0 0.0 X 500 0 0 Mr Jeffrey F Benson Trustee 3.0 0.0 X 347 0 0 Mr Richard Osborne Trustee 3.0 0.0 X 317 0 0 Mr John Heath Trustee 2.0 0.0 X 260 0 0 Mrs Gaye Overton Benson Trustee 2.0 0.0 X 250 0 0 Dr Dwight Reighard Trustee 2.0 0.0 X 135 0 0 Dr Jerry Vines Trustee 3.0 0.0 X 135 0 0 Dr Richard G Lee Trustee 2.0 0.0 X 135 0 0 Dr Harold Rawlings Trustee 2.0 0.0 X 125 0 0 Mr Will Tinney Trustee 2.0 0.0 X 125 0 0 Ms Angela Jordan Trustee 2.0 0.0 X 0 0 0 13784663 0 888023 855 true true false Google LLC 1600 Amphitheatre Parkway MOUNTAIN VIEW CA 94043 Advertising 36030153 Sodexo Mgmt Inc-Liberty Uni loca PO Box 360170 PITTSBURGH PA 15251 food service 30358855 The Whiting-Turner Contracting Comp 300 East Joppa Road BALTIMORE MD 21286 construction 10544949 James R Vannoy Sons Constr Co In 700 Highland Oaks Drive WINSTONSALEM NC 27103 construction 9969264 HMS Holdings LTD Partnership 4400 Papa Joe Hendrick Boulevard CHARLOTTE NC 28262 advertising 8641934 371 19530739 11384586 770926 30915325 TUITION AND FEES 611710 1336194817 1336194817 ROOM & BOARD 611710 98513282 94608415 3904867 STUDENT ACTIVITIES 611710 13403000 13403000 STUDENT FEES 611710 13140400 13140400 BOOKSTORE/CONCESSIONS 611710 3211453 3211453 1464462952 55709676 1543576 54166100 0 539581 539581 13939020 130079 14234081 -295061 130079 -164982 130079 -295061 1210879792 10000 1234945037 493458 -24065245 -483458 -24548703 -483458 -24065245 42475 0 32804 9671 9671 0 0 0 0 0 0 HEALTH SERVICES 621111 29387371 4320366 25067005 OTHER INCOME 611710 5259307 1919302 3340005 STUDENT TRAVEL FEES 561500 2887274 2887274 1219076 1091355 127721 38753028 1565676548 1470292924 34113253 30355046 1924231 1924231 341246534 341246534 0 0 9353733 6173464 3180269 3028481 1998797 1029684 452436042 386142507 63047465 3246070 11825859 8835933 2892108 97818 64570030 49073678 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INCOME 401036427 F PUBLICLY TRADED EQUITIES 203848908 F HEDGE FUNDS 187842120 F COMMODITIES/OTHER ALTERNATIVES 101164155 F PRIVATE EQUITY/VENTURE CAPITAL 36262741 F 930154351 0 GIFT ANNUITIES PAYABLE 23766037 OBLIG. UNDER CAPITAL LEASES 5222995 INTEREST AGREEMENT 623182 DUE TO/FROM FA FROM C&C AVIA. -49575 29562639 1373155375 132006987 1575739 5757293 139340019 1233815356 331861192 331861192 1565676548 1051554963 1575739 773988 2349727 1049205236 331861192 331861192 1381066428 Part III, Line 4: LIBERTY UNIVERSITY HAS A COLLECTION OF DONATED ANIMAL TROPHIES AND A COLLECTION OF DONATED PAINTINGS. THE COLLECTIONS ARE DISPLAYED WITHIN THE UNIVERSITY'S FACILITIES FOR THE EDUCATION AND ENJOYMENT OF STUDENTS AND VISITORS. THERE IS NO ADMISSION CHARGE FOR VIEWING THE COLLECTIONS AND LIBERTY UNIVERSITY DOES NOT ADVERTISE THAT THE COLLECTIONS ARE 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'S ENDOWMENT IS INVESTED WITH THE PRIMARY GOAL OF PRESERVING CAPITAL TO WITHSTAND POTENTIAL FINANCIAL HARDSHIPS THROUGH GREATER ALLOCATION TO FIXED-INCOME ASSET INSTRUMENTS. PART VII INVESTMENTS-OTHER SECURITIES METHOD OF VALUATION IS NET ASSET VALUE Part XI, Line 2D - Other Adjustments: RENT EXPENSES $14,234,081 TAX ADJUSTMENT FOR SUBS FILING SEPARATE RETURNS $33,890,726 FUNDRAISING $32,804 ASU INVESTMENT ADJUSTMENT $(40,544,515) CHANGE IN SPLIT INTEREST $4,983,305 INVESTMENT EXPENSES $(6,839,108) TOTAL TO PART XI, LINE 2D $5,757,293 Part XI, Line 4B - Other Adjustments: INSTITUTIONAL SCHOLARSHIPS $331,861,192 TOTAL TO PART XI, LINE 4B $331,861,192 Part XII, Line 2D - Other Adjustments: RENT EXPENSES $14,234,081 TAX ADJUSTMENT FOR SUBS FILING SEPARATE RETURNS $33,890,726 FUNDRAISING $32,804 ASU INVESTMENT ADJUSTMENT $(40,544,515) INVESTMENT EXPENSES $(6,839,108) TOTAL TO PART XII, LINE 2D $773,988 Part XII, Line 4B - Other Adjustments: INSTITUTIONAL SCHOLARSHIPS $331,861,192 TOTAL TO PART XII, LINE 4B $331,861,192 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 0 0 Investments 60315432 Europe (Including Iceland and Greenland) 0 0 Program Services mission trip/study abr 238340 Middle East and North Africa 0 0 Program Services mission trip/study abr 216999 Sub-Saharan Africa 0 0 Program Services mission trip/study abr 108151 East Asia and the Pacific 0 0 Program Services mission trip/study abr 86663 South America 0 0 Program Services mission trip/study abr 53031 0 0 0 0 61018616 61018616 true false true true true false ATHLETIC GOLF 42475 42475 22192 7740 2409 463 0 42475 42475 22192 7740 2409 463 32804 9671 true HOPE PARTNERS INTERNATIONAL 300 Third Ave N St Petersburg FL 33701 237088912 501(c)(3) 300000 Supportive Christian Organization SAMARITAN'S PURSE PO Box 3000 Boone NC 28607 581437002 501(c)(3) 300000 Supportive Christian Organization GLOBAL SURGE INC 140 West 29th St Ste 357 Pueblo CO 81008 473556611 501(c)(3) 200000 Supportive Christian Organization LYNCHBURG BEACON OF HOPE 2600 Memorial Ave Lynchburg VA 24502 453797831 501(c)(3) 200000 Community Support JERRY VINES MINISTRIES INC 3760 Sixes Rd Ste 126-312 Canton GA 30114 204857233 501(c)(3) 100000 Supportive Christian Organization TIM LEE MINISTRIES PO Box 461674 Garland TX 750461674 731268199 501(c)(3) 100000 Supportive Christian Organization HILLSIDE BAPTIST CHURCH 8366 W State Hgwy 266 Springfield MO 65802 421696045 501(c)(3) 60000 Supportive Christian Organization LEGACY COLLEGE INC 1218 Rivermont Ave Lynchburg VA 24504 811162877 501(c)(3) 50000 community support JAY LOWDER HARVEST MINISTRIES INC PO Box 9543 Wichita Falls TX 76308 752904331 501(c)(3) 40000 Supportive Christian Organization MT PISGAH BAPTIST CHURCH AND CHRIST PO Box 341 Oliver Spring TN 37840 620984129 501(c)(3) 40000 Supportive Christian Organization GAINEY FOUNDATION 6093 Clay Ave SW Grand Rapids MI 49548 912025454 501(c)(3) 25000 Supportive Christian Organization M4K LYNCHBURG INC 1611 Langhorne Rd Lynchburg VA 24503 811738785 501(c)(3) 14000 community support CHRISTIAN EMPLOYERS ALLIANCE 6101 Associated Blvd Everett WA 98203 811433310 501(c)(3) 10000 Supportive Christian Organization LYNCHBURG HUMANE SOCIETY INC 1211 Old Graves Mill Rd Lynchburg VA 24502 540570901 501(c)(3) 6000 community support WORLD HELP PO Box 501 Forest VA 245510501 541615454 501(c)(3) 16298 Supportive Christian Organization HOPE OUT LOUD 1168 Lake Meadow Ln Forest VA 24551 900595714 501(c)(3) 20000 Supportive Christian Organization CAMPBELL AVE BAPTIST CHURCH 3705 Campbell Ave Lynchburg VA 24501 541250826 501(c)(3) 17500 FMV vehicle Supportive Christian Organization LIBERTY CHRISTIAN ACADEMY 100 Mountain View Rd Lynchburg VA 24502 540831546 501(c)(3) 72940 COST/FMV Turf/Crosswalk/Vehi. Supportive Christian Organization THOMAS ROAD BAPTIST CHURCH 1 Mountain View Dr Lynchburg VA 245022689 260061907 501(c)(3) 320285 FMV Vehicle/Equipment Supportive Christian Organization LIBERTY COUNSEL INC PO BOX 540774 ORLANDO FL 32854 592986294 501(c)(3) 605533 COST/FMV SERVICES/RENT Supportive Christian Organization 20 0 INSTITUTIONAL SCHOLARSHIPS 106730 322547922 MISSIONARY ASSISTANCE 22 41481 BENEVOLENCE 24 36491 8000 FMV VEHICLE 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. 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 X true false false false false false false true false Mr Danny H Freeze Jr Head Coach - Football 3344722 0 280151 0 168375 0 27000 0 13181 0 3833429 0 0 0 Mr Ritchie L McKay Head Coach - Basketball 1223635 0 178748 0 0 0 47500 0 14077 0 1463960 0 0 0 Dr Jerry Prevo Trustee/President 748491 0 242964 0 0 0 27000 0 5763 0 1024218 0 0 0 Mr Ian McCaw Director of Athletics 697821 0 129566 0 135 0 47500 0 14077 0 889099 0 0 0 Dr Robert Ritz Chief Fin. Officer/Treasurer 510824 0 45195 0 30060 0 47500 0 14077 0 647656 0 0 0 Mr David Corry General Counsel/Secretary 412673 0 32800 0 0 0 20833 0 13343 0 479649 0 0 0 Mr James Chadwell Head Coach - Football 335083 0 144546 0 0 0 0 0 0 0 479629 0 0 0 Dr Ronald Kennedy EVP for Enrollment & Marketing 318142 0 30780 0 49500 0 47500 0 13727 0 459649 0 0 0 Dr Scott Hicks Provost & Chief Academic Off. 361991 0 31823 0 22400 0 18083 0 291 0 434588 0 0 0 Mr Scott Jackson Head Coach - Baseball 282828 0 93213 0 0 0 41000 0 13782 0 430823 0 0 0 Dr Mark F Horstemeyer Dean, School of Engineering 359573 0 2000 0 6522 0 27000 0 13782 0 408877 0 0 0 Dr Shawn Akers Online Provost 149709 0 0 0 232915 0 7841 0 209 0 390674 0 0 0 Mrs Cindy Gaebe SVP of Fin.& Chief Invest Off. 284004 0 46700 0 0 0 0 0 13343 0 344047 0 0 0 Mr Don Moon FORMER OFFICER 252700 0 21035 0 0 0 47000 0 5318 0 326053 0 0 0 Mr John Gauger Chief Information Officer 271544 0 19960 0 0 0 13812 0 13343 0 318659 0 0 0 Mr Daniel Deter VP of Major Construction 247745 0 44068 0 0 0 12333 0 13343 0 317489 0 0 0 Rev Glenn Clary EVP of Strategic P'ships 220578 0 34448 0 0 0 47500 0 10860 0 313386 0 0 0 Mr Steve Foster EVP of Human Resources 239203 0 22960 0 1308 0 27000 0 14077 0 304548 0 0 0 Mr Craig Pettitt VP of Real Estate Management 231745 0 18720 0 0 0 27000 0 13343 0 290808 0 0 0 Mr Charles Spence SVP of Campus Facilities & Tra 234389 0 18324 0 0 0 27000 0 10860 0 290573 0 0 0 Mr Shon Muldrow SVP of Inclusion, Divers & Eqy 235577 0 17000 0 0 0 22417 0 13988 0 288982 0 0 0 Mr Daniel Applewhite Deputy Gen. Counsel/Asst. Secy 219538 0 19843 0 0 0 10024 0 14077 0 263482 0 0 0 Dr Lawrence Hine Senior VP of Student Affairs 198970 0 17000 0 0 0 27000 0 10342 0 253312 0 0 0 Mr Scott Spear VP of Finance & Administration 178009 0 13600 0 0 0 5250 0 13727 0 210586 0 0 0 Pastor Jonathan Falwell Trustee/Chancellor 200000 0 8510 0 0 0 0 0 0 0 208510 0 0 0 Mr Matthew Cooper VP of Student Financial Svcs 147578 0 12000 0 0 0 7625 0 13343 0 180546 0 0 0 Mr Chris Johnson Former Key Employee 124050 0 9000 0 0 0 5000 0 13693 0 151743 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 AND TRUSTEES WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? THE AMOUNT IS TREATED AS TAXABLE COMPENSATION. TYPE OF BENEFIT: HOUSING ALLOWANCE LISTED PERSON WHO RECEIVED THE BENEFIT: PRESIDENT OF THE UNIVERSITY AND VP OF MAJOR CONSTRUCTION WAS THE BENEFIT TREATED AS TAXABLE TO THE LISTED PERSON? THE AMOUNT IS TREATED AS TAXABLE COMPENSATION UNLESS EXCLUDED UNDER THE INTERNAL REVENUE CODE. TYPE OF BENEFIT: HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES LISTED PERSON WHO RECEIVED THE BENEFIT: HEAD FOOTBALL COACH 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 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: DR. SHAWN AKERS RECEIVED A SEVERANCE PAYMENT OF $200,200. 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 EMPLOYEE'S W-2. Falwell Family GST Irrevoc Trust 35% Controlled Entity of Jerry Falwell, Jr. split dollar premium X 486566 503514 false true true Jerry Falwell Jr Former President Excess Bene Receivab X 1188750 1179663 true false false Charles Wesley Falwell Son of Former President Excess Bene Receivab X 80622 80622 true false false Sarah Falwell Daughter-in-Law of Former President Excess Bene Receivab X 106461 91461 true false false Laura Falwell Daughter-in-Law of Former President Excess Bene Receivab X 85504 85504 true false false Estate of Macel Falwell Estate of Founder's Wife Excess Bene Receivab X 38440 38440 true false false Related to Substantial Contributor SISTER CO. TO SUBSTANTIAL CONTRIBUTOR Real Estate Purchase X 395066 339712 false false true JERRY PREVO PRESIDENT RECEIVABLE FOR EXPEN X 2862 2862 false false false 2321778 NONE NONE 309743 GRANTS TO FAMILY OF BOARD TO HAVE COMPARABLE Bernette Beckles Wife of Board Member 31800 compensation false Andrea Parker Daughter of Board member 27100 compensation false Jamye Tickle Daughter of Board Member 35400 compensation false Vincent Todd Tickle Son in law of Board Member 105793 compensation false Laura Falwell Daughter in Law of Former President 75096 compensation false Charles Wesley Falwell Son of Former President 42653 compensation false Paige Falwell Daughter-in-Law of Board Member 35869 compensation false Phillip McFarland Son of Board Member 51460 compensation false Carol Prevo Wife of Officer 32445 compensation false Dr Elmer Towns Co-founder 99656 compensation false Marcus Akers son of officer 30000 compensation false Deidre Akers daughter-in-law of officer 12688 compensation false Shanna Akers wife of officer 179392 compensation false Vickey Jaynes sister of officer 138327 compensation false Melanie Hicks wife of officer 226110 compensation false Christopher Hicks brother of officer 58440 compensation false Virginia Dow Sister in Law of Officer 130982 compensation false Mary Guman Sister of Key Employee 10770 compensation false Edward Barnhouse Son in law of Key Employee 75521 compensation false Brandon Elrod Son in law of Key Employee 54378 compensation false Jessica Smith Daughter of Key Employee 45510 compensation false Dawson Kennedy Son of Key Employee 19518 compensation false Jennifer Kennedy Wife of Key Employee 75538 compensation false Reganne Kennedy daughter of key employee 10311 compensation false Tonia Kennedy sister in law of key employee 171735 compensation false Scott Hawkins son of former officer 158913 compensation false Nastaran Morgan sister of former key employee 58929 compensation false Jonathan Wallace son of former key employee 68851 compensation false Matthew Holcomb Son in Law of Board Member 22644 compensation false W Franklin Graham Father of Trustee 75000 speaking services false DuCar International LLC owned by trustee 79732 travel services false Substantial Contributor substantial contributor 30082349 construction services false Substantial Contributor substantial contributor 5761934 Sponsorship false Substantial Contributor substantial contributor 5357900 Investment Mgmt Services false Substantial Contributor substantial contributor 1836932 Heating/Air Services false Substantial Contributor substantial contributor 965647 Fuel Services false Substantial Contributor substantial contributor 482525 Purchase of Equipment false Substantial Contributor 35% owned business of substantial contributor 132771 Purchase of Supplies false Substantial Contributor Substantial Contributor 211138 Construction Services false Substantial Contributor Substantial Contributor 394492 Heating/Air Services false Substantial Contributor 35% owned business of substantial contributor 186683 Marketing Services false X 2 56150 Valuation X 372991 FMV X 5 157606 FMV X 1 5219 FMV X HORSE 1 160000 Valuation X Equipment 1 16000 FMV X HAY 1 2670 FMV X GIFT CARDS 6 290 FMV 4 false true false FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: LIBERTY UNIVERSITY, INC. IS A DISTINCTIVELY CHRISTIAN ACADEMIC COMMUNITY, WITH A MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION TRAINING CHAMPIONS FOR CHRIST. FORM 990, PART VI, SECTION A, LINE 1A: THE EXECUTIVE COMMITTEE OF THE BOARD IS THE GOVERNING BODY OF THE ORGANIZATION BETWEEN BOARD MEETINGS WITH POWERS TO DO EVERYTHING THE BOARD CAN DO, EXCEPT CHANGE COMPOSITION OF ANY STANDING COMMITTEE; ADD OR REMOVE TRUSTEES; ESTABLISH BOARD POLICY; CHANGE ARTICLES OF INCORPORATION OR BYLAWS; ADOPT COMPENSATION FOR BOARD OR COMMITTEE SERVICE; AND HIRE OR TERMINATE THE PRESIDENT. FORM 990, PART VI, SECTION A, LINE 2: BOARD MEMBERS JEFFREY F. BENSON AND GAYE OVERTON BENSON ARE HUSBAND/WIFE. BOARD MEMBERS DAVID RHODENHIZER AND CHRIS RHODENHIZER ARE FATHER/SON. BOARD MEMBERS GILBERT TINNEY AND WILL TINNEY WERE FATHER/SON. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 FOR FY JUNE 30, 2023 WAS PROVIDED BEFORE FILING TO THE PRESIDENT, CHIEF FINANCIAL OFFICER, IN-HOUSE LEGAL COUNSEL AND THE BOARD OF TRUSTEES FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C: THE UNIVERSITY HAS ADOPTED A POLICY OF CONFLICTS OF INTEREST FOR TRUSTEES. THE SECRETARY IS RESPONSIBLE FOR DISTRIBUTING AND COLLECTING SIGNED DISCLOSURE STATEMENTS AT THE TIME A TRUSTEE IS FIRST ELECTED, ANNUALLY, AND AT THE TIME A TRUSTEE BECOMES AWARE OF A POTENTIAL CONFLICT. AFTER RECEIVING DISCLOSURES FROM THE TRUSTEES, THE SECRETARY WILL SUMMARIZE THE MATERIAL INFORMATION CONTAINED IN THE DISCLOSURE STATEMENTS OR OTHER DISCLOSURE AND DELIVER A REPORT TO THE AUDIT COMMITTEE AND THE GENERAL COUNSEL. THE RESOLUTION OF ANY CONFLICT OR PERCEIVED CONFLICT THAT IS IDENTIFIED BY THE SECRETARY WILL BE DETERMINED BY THE AUDIT COMMITTEE OR, UPON THE REFERRAL BY THE AUDIT COMMITTEE OR THE CHAIRMAN OF THE AUDIT COMMITTEE, BY THE BOARD OF TRUSTEES. THE GENERAL COUNSEL WILL ADVISE ON ANY LEGAL REQUIREMENTS ARISING FROM ANY ACTUAL OR APPARENT CONFLICT OF INTEREST, INCLUDING THOSE SITUATIONS WHERE IT WOULD BE APPROPRIATE OR REQUIRED FOR THE TRUSTEE TO RECUSE HIM OR HERSELF FROM BOARD DELIBERATIONS OR VOTES. TO THE EXTENT ANY ACTUAL OR APPARENT CONFLICT OF INTEREST INVOLVES A TRANSACTION UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR A COMMITTEE OF THE BOARD, THE TRUSTEE'S INTEREST MUST BE DISCLOSED AND KNOWN TO THE BOARD OR THE APPLICABLE COMMITTEE PRIOR TO THE AUTHORIZATION, APPROVAL OR RATIFICATION OF THE TRANSACTION. THE UNIVERSITY HAS ADOPTED A POLICY OF CONFLICTS OF INTEREST AND COMMITMENT FOR SENIOR OFFICERS AND EXECUTIVES. THE SECRETARY IS RESPONSIBLE FOR DISTRIBUTING THE DISCLOSURE STATEMENTS AND COLLECTING SIGNED DISCLOSURE STATEMENTS AT THE TIME A SENIOR OFFICER OR EXECUTIVE IS FIRST APPOINTED OR HIRED. ANNUALLY, THE SECRETARY WILL DISSEMINATE AND PROVIDE ANNUAL DISCLOSURE STATEMENTS TO ALL SENIOR OFFICERS AND EXECUTIVES. AFTER RECEIVING DISCLOSURES FROM THE SENIOR OFFICERS AND EXECUTIVES, THE SECRETARY WILL SUMMARIZE THE MATERIAL INFORMATION CONTAINED IN THE DISCLOSURE STATEMENTS OR OTHER DISCLOSURE AND TIMELY DELIVER A REPORT TO THE PRESIDENT OF THE UNIVERSITY, THE CHIEF FINANCIAL OFFICER AND THE AUDIT COMMITTEE. THE RESOLUTION OF ANY ACTUAL OR PERCEIVED CONFLICT OF INTEREST THAT IS IDENTIFIED BY THE SECRETARY WILL BE DETERMINED BY THE PRESIDENT, CHANCELLOR OF SPIRITUAL AFFAIRS, CHIEF FINANCIAL OFFICER OR INTERNAL AUDITOR WILL BE DETERMINED IN CONSULTATION WITH THE CHAIRMAN OF THE AUDIT COMMITTEE AND SUBJECT TO THE APPROVAL OF THE AUDIT COMMITTEE OR BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 A & B: COMPENSATION OF THEPRESIDENT 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 OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR. HOWEVER, SOME DOCUMENTS ARE AVAILABLE TO THE PUBLIC VIA THE PUBLIC RECORD AND/OR THIRD-PARTY SITES ON THE INTERNET. FOR EXAMPLE, LIBERTY UNIVERSITY'S ARTICLES OF INCORPORATION ARE FILED WITH THE VIRGINIA STATE CORPORATION COMMISSION AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE FAC.GOV WEBSITE. LIBERTY UNIVERSITY MAKES ITS CONFLICT OF INTEREST POLICIES AVAILABLE TO THE PUBLIC ON ITS WEBSITE. FORM 990, PART VII, SECTION A, LINE (B) AVERAGE HOURS PER WEEK: BOARD MEMBERS CONTRIBUTE THEIR TIME AND SERVICES UPON REQUEST AND ON AS NEEDED BASIS, WHICH, THROUGHOUT THE YEAR, MAY DIFFER FROM THE AVERAGE NUMBER OF HOURS PER WEEK. 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