2023-03-27T16:56:14-05:00 2022-05-31 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2021-06-01 370711798 LINCOLN CHRISTIAN UNIVERSITY LINC 2177323168 100 CAMPUS VIEW DR LINCOLN IL 62656 SILAS MCCORMICK PRESIDENT 2177323168 2023-03-24 1 SILAS MCCORMICK 999009999 SAMUEL A CIGELNIK P00324762 3096714500 2023-03-24 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SILAS MCCORMICK 100 CAMPUS VIEW DR LINCOLN IL 62656 11719247 0 X WWW.LINCOLNCHRISTIAN.EDU X 1944 IL TO NUTURE AND EQUIP CHRISTIANS WITH A BIBLICAL WORLDVIEW TO SERVE AND LEAD IN THE CHURCH AND THE WORLD. 9 8 316 4 0 0 4234814 3761770 7544935 7349543 53461 -65730 2154 18404 11835364 11063987 1425335 1425093 0 0 5352677 5084669 0 0 467916 4008444 5040053 10786456 11549815 1048908 -485828 25402517 26403234 10238506 10367806 15164011 16035428 X LCU IS A HIGHER EDUCATION COMMUNITY WHOSE MISSION IS TO NUTURE AND EQUIP CHRISTIANS WITH A BIBLICAL WORLDVIEW TO SERVE AND LEAD IN THE CHURCH AND THE WORLD. LCU OFFERS DEGREES IN EDUCATION, BIBLE/BIBLICAL STUDIES AND THEOLOGY, PRE-NURSING, SCIENCE, BUSINESS ADMINISTRATION, SPORT MANAGEMENT, CHILDREN'S MINISTRY, CHRISTIAN MINISTRY, COMMUNICATION STUDIES, MEDIA ARTS & MINISTRY, PHILOSOPHY AND APOLOGETICS, PREACHING MINISTRY, PSYCHOLOGY, CHURCH HISTORY/HISTORICAL THEOLOGY, SPIRITUAL FORMATION AND MINISTRY, WORSHIP MINISTRY, YOUTH AND FAMILY MINISTRY, ORGANIZATIONAL LEADERSHIP, AND COUNSELING. DEGREES AWARDED ARE AT THE FOLLOWING LEVELS: CERTIFICATES, ASSOCIATES, BACHELORS, MASTERS, AND DOCTORATES. 0 0 6883488 1425093 7362743 LINCOLN CHRISTIAN UNIVERSITY IS A CHRISTIAN HIGHER EDUCATION COMMUNITY WHOSE MISSION IS TO NURTURE AND EQUIP CHRISTIANS WITH A BIBLICAL WORLDVIEW TO SERVE AND LEAD IN THE CHURCH AND THE WORLD. LCU OFFERS DEGREES IN EDUCATION, BIBLE/BIBLICAL STUDIES AND THEOLOGY, PRE-NURSING, SCIENCE, BUSINESS ADMINISTRATION, SPORTS MANAGEMENT, CHILDREN'S MINISTRY, CHRISTIAN MINISTRY, COMMUNICATION STUDIES, INTERCULTURAL STUDIES, MEDIA ARTS & MINISTRY, PHILOSOPHY AND APOLOGETICS, PREACHING MINISTRY, PSYCHOLOGY, CHURCH HISTORY/HISTORICAL THEOLOGY, SPIRITUAL FORMATION AND MINISTRY, WORSHIP MINISTRY, YOUTH AND FAMILY MINISTRY, ORGANIZATIONAL LEADERSHIP, AND COUNSELING. DEGREES AWARDED ARE AT THE FOLLOWING LEVELS: CERTIFICATES, ASSOCIATES, BACHELORS, MASTERS, AND DOCTORATES. 6883488 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 1 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 43 0 1 316 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIELLE FIELDS 2177323168 100 CAMPUS VIEW DR LINCOLN IL 62656 BRETT ANDERSON TRUSTEE 1.00 X 0 0 0 DAN VESELSKY VICE CHAIR 1.00 X X 0 0 0 DARRYL BOLEN TRUSTEE 1.00 X 0 0 0 ERICA VINSON TRUSTEE 1.00 X 0 0 0 GENE HARKER TRUSTEE 1.00 X 0 0 0 PAT MCDONALD SECRETARY 1.00 X X 0 0 0 SILAS MCCORMICK PRESIDENT 40.00 X X 87594 0 0 SUSAN ALBERS TRUSTEE 1.00 X 0 0 0 TAMSEN MURRAY CHAIRPERSON 2.00 X X 0 0 0 MORGAN ARSENAU TRUSTEE 1.00 X 0 0 0 CHRIS LAWLER TRUSTEE 1.00 X 0 0 0 HABEEB HABEEB TRUSTEE 1.00 X 0 0 0 WARREN KNOLES TRUSTEE 1.00 X 0 0 0 TANNER GREEN TRUSTEE 1.00 X 0 0 0 JENNIFER ARMSTRONG TRUSTEE 1.00 X 0 0 0 DANIELLE FIELDS VICE PRESIDENT OF FINANCE 40.00 X 64584 0 9350 152178 0 9350 0 0 0 0 PIONEER COLLEGE CATERERS 25055 WEST VALLEY PARKWAY STE 120 OLATHE KS 66061 FOOD SERVICE 719723 1 1485 23200 636988 3100097 367016 3761770 SCHOOL OF UNDERGRADUATE STUDIES 611000 2708497 2708497 AUXILIARY 611000 1584923 1584923 SEMINARY 611000 1138218 1138218 NON-TRADITIONAL EDUCATION 611000 1027071 1027071 MISCELLANEOUS 611000 781052 781052 109782 109782 7349543 147222 147222 13200 0 13200 13200 13200 378127 51700 377780 264999 347 -213299 -212952 -212952 17685 23200 12481 5204 5204 11063987 7362743 0 -60526 X 1309498 1309498 115595 115595 465848 235464 151923 78461 3720149 2582200 916818 221131 643207 133453 452605 57149 255465 169658 67566 18241 6460 6460 69017 69017 41705 41705 219209 176095 43114 71861 46024 25057 780 325103 123140 168183 33780 339147 339147 492447 153739 338708 86628 54938 27334 4356 13123 8482 559 4082 355229 355229 835553 747578 87975 MISCELLANEOUS 1121538 60765 1017423 43350 FOOD SERVICES 617608 617608 BAD DEBT 347569 347569 CONSULTANTS 97515 65321 31599 595 341 -71299 65649 5991 11549815 6883488 4198411 467916 1001548 1024364 1379394 2124742 483533 165428 530144 2065929 6721 6721 64625 29020 34007482 21874966 13117830 12132516 4118209 3980576 12087 12087 4667892 4841317 20534 20534 25402517 26403234 431672 399244 475399 421514 8193070 8457166 1138365 1089882 10238506 10367806 X 4373786 4764084 10790225 11271344 15164011 16035428 25402517 26403234 -485828 -195334 1552579 0 X X 0 1 X 1 1 1 X 2298468 2612495 2320266 4234814 3761770 15227813 2298468 2612495 2320266 4234814 3761770 15227813 47461 15180352 109790 138932 106915 49444 160422 565503 15793316 41261108 0.96120 0.95120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5715377 193371 -293110 192956 5422682 5385565 191458 695410 557056 5715377 5301066 109682 42074 67257 5385565 5336831 202720 -66530 171955 5301066 5227120 121188 59390 70867 5336831 0.00000 1.00000 0.00000 0 0 633755 633755 22010771 11454139 10556632 7424152 7381974 42178 3938804 3038853 899951 12132516 FARMLAND 4659298 F PARSONAGE 182019 F 4841317 ANNUITY LIABILITY 690598 CHARITABLE TRUST LIABILITY 40605 FEDERAL PERKINS LIABILITY 358679 1089882 X 9485634 -195334 -195334 9680968 41705 1341314 1383019 11063987 10166796 0 10166796 41705 1341314 1383019 11549815 PART X, LINE 2: ON JUNE 1, 2009, THE UNIVERSITY ADOPTED THE FINANCIAL ACCOUNTING STANDARDS BOARD'S NEW ACCOUNTING REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS. UNDER THESE NEW REQUIREMENTS, A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD IS INITIALLY AND SUBSEQUENTLY MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE UNIVERSITY DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY FOR UNRECOGNIZED TAX BENEFITS AS A RESULT OF IMPLEMENTING THE NEW REQUIREMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST REVENUE 1,425,094. CHANGE IN VALUE OF SPLIT-INTEREST -71,299. FUNDRAISING EXPENSES -12,481. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST REVENUE 1,425,094. CHANGE IN VALUE OF SPLIT-INTEREST -71,299. FUNDRAISING EXPENSES -12,481. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 6 LCU RECEIVES FINANCIAL AID FROM THE STATE OF ILLINOIS AND AID FROM THE FEDERAL GOVERNMENT IN THE FORM OF PELL GRANTS, SEOG, FEDERAL DIRECT STUDENT LOANS, ACADEMIC COMPETITIVENESS GRANTS, AND PERKINS LOANS. 0 0 0 0 0 0 0 0 0 0 10% INTERNATIONAL STUDENT GRANT FOR CHINESE CITIZENS STUDYING AT LCU CHINA 17 115595 PER SEMESTER, ON ACCOUNT 0 0 0 0 0 0 PART III ACCOUNTING METHOD: GOLF OUTING 8485 2750 5735 2251 537 3040 EVENING AT LCU GALA 32400 20450 11950 2234 435 3984 40885 23200 17685 2251 2771 435 7024 12481 5204 0 TRADITIONAL UNDERGRADUATE STUDENTS 213 875454 NON-TRADITIONAL UNDERGRADUATE 22 30486 SEMINARY/GRADUATE STUDENT GRANTS 104 194721 ENDOWED SCHOLARSHIPS 102 208837 X 1 2000 BLUE BOOK VALUE X 8 179416 STOCK MARKET VALUE X 1 185000 APPRAISAL X RESTAURANT GIFT CARDS 6 600 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD DELEGATES THE PREPARATION AND FILING OF THE ORGANIZATION'S IRS FORM 990 TO THE PRESIDENT (OR HIS DESIGNEE). THE FINANCE TEAM SHALL REVIEW AND APPROVE THE IRS FORM 990 ANNUAL TAX FILING PRIOR TO SUBMISSION, AND THE BOARD SHALL RECEIVE A COPY OF THE IRS FORM 990 PRIOR TO ITS SUBMISSION. THE FINANCE TEAM SHALL VERIFY THAT THE COMPLETED IRS FORM 990 IS FILED ACCORDING TO IRS DEADLINES. CONSISTENT WITH THE REQUIREMENTS OF 6104(D) OF THE INTERNAL REVENUE CODE AND THE REGULATIONS THERE UNDER, COPIES OF THE ORGANIZATION'S FORM 990 SHALL BE MADE AVAILABLE, UPON REQUEST, IN A TIMELY MANNER, AND SUBJECT TO THE CHARGES PERMITTED BY LAW TO ANY INDIVIDUALS WHO REQUEST IT. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD OF TRUSTEES AND KEY OFFICERS ARE REQUIRED TO SIGN CONFLICT OF INTEREST AGREEMENTS WHERE THEY WOULD DISCLOSE PERTINENT INFORMATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S SALARY REGULARLY. THE PRESIDENT'S CABINET AND HR DIRECTOR REVIEW THE SALARIES OF KEY EMPLOYEES, REGULARLY REVIEWING BENCHMARK DATA FOR COMPARISON. FORM 990, PART VI, SECTION C, LINE 19 LCU'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST AGREEMENTS, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER SERVICES: PROGRAM SERVICE EXPENSES 176,095. MANAGEMENT AND GENERAL EXPENSES 43,114. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 219,209. FORM 990, PART IX, LINE 24E BANK FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 65,649. FUNDRAISING EXPENSES 5,991. TOTAL EXPENSES 71,640. CHANGE IN SPLIT INTEREST VALUE: PROGRAM SERVICE EXPENSES -71,299. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES -71,299. FORM 990, PART XII, LINE 2C: THE FINANCE TEAM OVERSEES THE SELECTION OF THE INDEPENDENT AUDITOR AND THE AUDITING PROCESS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.