2019-05-15T15:56:37-05:00 2018-06-30 560747981 DIXON HUGHES GOODMAN LLP 901 EAST CARY STREET SUITE 1000 RICHMOND VA 23219 990 2017-07-01 540946734 LIBERTY UNIVERSITY INC LIBE 4345923237 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DR ROBERT RITZ EXECUTIVE VP OF FINANCE 4345923237 2019-05-15 1 AMY BIBBY P00445891 8042827636 2019-05-15 4.28.226.33 2019-05-15 10:19:29 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3CD412B09983E39150554DEC6362464A9D6A3E5C 2017 2019-02-21 02:37:17Z DON MOON 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 2140293262 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. 28 19 11725 10865 5424752 598878 13964116 28909244 1037526114 1082668020 50245699 33001962 9574570 14735745 1111310499 1159314971 228112008 236085315 0 0 356454861 362201824 0 0 4635951 292715544 308233066 877282413 906520205 234028086 252794766 2571559687 2812938906 467549845 432447188 2104009842 2380491718 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 751433794 236085315 954834701 INSTRUCTION OF APPROXIMATELY 102,940 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. 34342777 0 130662959 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. 785776571 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 1 1 1 1 1 1 1 0 0 1 1 1 1 0 0 1 1399 0 1 11725 1 1 1 0 0 0 0 1 1 0 0 0 1 1 0 X 28 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 VA AL NH OR SC WA WI ND NY NJ MD AK X DON MOON 4345923237 1971 UNIVERSITY BOULEVARD LYNCHBURG VA 24515 MR JERRY FALWELL CHANCELLOR/PRESIDENT 55.00 0.50 X X 1010087 0 57243 MR NEAL ASKEW TRUSTEE (THROUGH 11/17) 2.00 X 0 0 0 MRS GAYE OVERTON BENSON TRUSTEE 2.00 X 0 0 0 MR JEFFREY F BENSON TRUSTEE 2.00 X 0 0 0 MR FLEET BROWNING TRUSTEE (THROUGH 8/17) 0.00 X 0 0 0 DR DON CRAIN TRUSTEE 4.00 X 0 0 0 PASTOR JONATHAN FALWELL TRUSTEE & VICE CHANCELLOR OF SPIRITUAL 9.00 2.00 X 55000 0 0 MR HARVEY GAINEY TRUSTEE 2.00 X 0 0 0 DR RONALD GODWIN TRUSTEE (THROUGH 11/17) 0.00 X 0 0 0 EVANGELIST WILLIAM F GRAHAM TRUSTEE 2.00 X 0 0 0 MR JOHN HEATH TRUSTEE 4.00 X 0 0 0 MR CARROLL HUDSON TRUSTEE 4.00 4.00 X 0 0 0 EVANGELIST TIM LEE TRUSTEE 2.00 X 0 0 0 DR ALLEN MCFARLAND TRUSTEE & ADJUNCT PROFESSOR 5.00 X 3500 0 0 DR GENE MIMS TRUSTEE 2.00 X 0 0 0 MR RICHARD OSBORNE TRUSTEE 4.00 X 0 0 0 MR GALEN PEEL SR TRUSTEE 2.00 X 0 0 0 DR JERRY PREVO TRUSTEE & CHAIRMAN 2.00 X 0 0 0 MR HAROLD RAWLINGS TRUSTEE 2.00 X 0 0 0 DR DWIGHT REIGHARD TRUSTEE 2.00 X 0 0 0 DR DAVID RHODENHIZER TRUSTEE 2.00 X 0 0 0 MR STEVEN A SNYDER TRUSTEE 4.00 X 0 0 0 PASTOR JASON SUITT TRUSTEE & ADJUNCT PROFESSOR 5.00 X 4200 0 0 DR JERRY THORPE TRUSTEE (THROUGH 11/17) 2.00 X 0 0 0 MR GILBERT TINNEY JR TRUSTEE 2.00 X 0 0 0 DR JERRY VINES TRUSTEE 2.00 X 0 0 0 MR DUKE WESTOVER TRUSTEE 4.00 X 0 66753 0 MR JEFFERY S YAGER TRUSTEE 4.00 X 0 0 0 MR ANTHONY BECKLES TRUSTEE 4.00 1.00 X 0 0 0 MR BRIAN AUTRY TRUSTEE 2.00 X 0 0 0 DR JOHN BOREK JR TRUSTEE & ADJUNCT PROFESSOR 5.00 X 27000 0 0 MS PENNY NANCE TRUSTEE 2.00 X 0 0 0 MR DAVID CORRY GENERAL COUNSEL/SECRETARY 55.00 X 240084 0 35663 DR RONALD HAWKINS PROVOST & CHIEF ACADEMIC OFFICER 55.00 X 253866 0 33667 MR DON MOON CFO/VP OF INVESTMENT MGMT 55.00 2.00 X 252200 0 29380 MR RANDALL SMITH EVP & COO 55.00 X 812738 0 40365 DR ROBERT RITZ EVP OF FINANCE 55.00 X 228528 0 33838 JOHN GAUGER CIO 55.00 X 236724 0 35463 JERRY FALWELL III VP OF UNIVERSITY SUPPORT SERVICES 55.00 X 165209 0 23866 SAMUEL BEAUMONT SENIOR VP OF AUXILIARY SERVICE 55.00 X 213145 0 29832 LAWRENCE HINE SENIOR VP OF STUDENT AFFAIRS 55.00 5.00 X 179576 0 28934 CHRIS JOHNSON EVP FOR RESIDENT ENROLLMENT 55.00 X 275567 0 35858 RONALD KENNEDY EVP OF ONLINE ENROLLMENT 55.00 X 294835 0 36221 IAN MCCAW DIRECTOR OF ATHLETICS 55.00 X 476076 0 49697 DR BEN GUTIERREZ CO-PROVOST & VP FOR ACADEMIC AFFAIRS 55.00 5.00 X 216037 0 22342 DAVID NASSER SR. VP OF SPIRITUAL DEVELOPMENT 55.00 X 352015 0 29759 CHARLES SPENCE SR. VP OF FACILITIES MANAGEMENT 55.00 X 238278 0 32384 LAURA WALLACE EVP OF HUMAN RESOURCES 55.00 X 288567 0 31711 TURNER GILL HEAD COACH - FOOTBALL 55.00 X 755126 0 53946 RITCHIE MCKAY HEAD COACH - MENS BASKETBALL 55.00 X 589194 0 51239 RAY MORRISON ASST DEAN, CLINICAL EDUCATION 55.00 X 259175 0 23532 DR PETER BELL DEAN, LU COLLEGE OF OSTEOPATHIC MEDICINE 55.00 X 328054 0 33411 CAREY GREEN HEAD COACH - WOMENS BASKETBALL 55.00 X 258906 0 33236 JEFF BARBER FORMER KEY EMPLOYEE 0.00 X 321350 0 38294 8335037 66753 819881 418 1 1 0 CONSTRUCTION MANAGEMENT ASSOCIATES INC PO BOX 3020 LYNCHBURG VA 24503 CONSTRUCTION 64138990 GOOGLE INC PO BOX 7247-7366 PHILADELPHIA PA 19170 ADMISSIONS LEAD GENERATION 11916300 GLASS & ASSOCIATES INC 1601 WYTHE RD LYNCHBURG VA 24501 CONSTRUCTION 10324025 PERMANENS CAPITAL LP 545 MADISON AVE FL 12 NEW YORK NY 10022 INVESTMENT MANAGEMENT 4126542 MITCHELL MATTHEWS & ASSOCIATES PO BOX 5603 CHARLOTTESVILLE VA 22905 ARCHITECTURAL SERVICES 3519211 170 66711 3887933 24954600 5036425 28909244 TUITION AND FEES 611710 977715464 977715464 ROOM & BOARD 611710 83057101 79084283 3972818 STUDENT ACTIVITIES 611710 9517721 9517721 STUDENT FEES 611710 6204153 6204153 BOOKSTORE/CONCESSIONS 611710 6173581 6173581 1082668020 16083826 17011 16066815 364416 364416 13929842 83109 11299391 0 2630451 83109 2713560 83109 2630451 983488454 3055651 963045281 6580688 20443173 -3525037 16918136 -3525037 20443173 31391 66711 52931 -21540 -21540 OTHER INCOME 611710 8247296 7108296 1139000 STUDENT TRAVEL FEES 561500 2189552 2189552 SPONSORSHIPS/ADVERTISI 511120 1148802 935988 212814 93659 93659 11679309 1159314971 1085497660 5424752 39483315 1220120 1220120 234865195 234865195 6031833 5006421 983189 42223 1391302 1154781 226782 9739 281522215 233663438 45888121 1970656 7246127 6014285 1181119 50723 45260544 37566251 7377469 316824 20749803 17222336 3382218 145249 2839267 2839267 302555 302555 58142 48258 9477 407 5014447 5014447 5615244 4660652 915285 39307 17423387 14461411 2840012 121964 5086878 4222109 829161 35608 19079786 15836222 3110005 133559 654039 542853 106608 4578 11216122 9309381 1828228 78513 12432459 10318941 2026491 87027 1240283 1029435 202166 8682 10458430 8680497 1704724 73209 46098029 38261364 7513979 322686 3858135 3202252 628876 27007 PURCHASED SERVICES 63677131 52852019 10379372 445740 STUDENT FOOD SERVICES 27085869 22481271 4414997 189601 NON CAPITAL EQUIPMENT 18042553 14975319 2940936 126298 BAD DEBT EXPENSE 16462381 13663776 2683368 115237 41587929 34517984 6778831 291114 906520205 785776571 116107683 4635951 20155593 25537275 154549612 257554719 101093605 39843001 457947 356125 2399512 1375944 322811 349092 14115548 15183535 1585432657 326783278 1150465204 1258649379 389387764 392123074 730388817 789848196 5440129 8828874 792535 717733 1990610 22571959 2571559687 2812938906 70103244 71082091 156970249 126407226 207769474 205052835 32706878 29905036 467549845 432447188 X 2087057966 2359931414 3338088 4794568 13613788 15765736 2104009842 2380491718 2571559687 2812938906 X 252794766 18958999 4728111 X X 0 1 X 1 0 X 58142 58142 906615767 906673909 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 27801 80303 61525 58142 227771 250000 250000 250000 250000 1000000 1500000 X X DISPLAYED IN VISITOR CENTER 0 1290702848 90835204 52095842 669669 1432964225 1082996068 198368872 74241805 1638 64902259 1290702848 1054487114 55364445 -26805224 50267 1082996068 126421721 925685737 2489259 109603 1054487114 101837308 20983893 3605535 5015 126421721 0.98850 0.01090 0.00060 0 0 100979873 100979873 1077380540 158870467 918510073 215647124 142707474 72939650 191425120 25205337 166219783 1258649379 LONG/SHORT EQUITY FUNDS 542775503 F OTHER ASSET BACKED SECURITIES 4574219 F TERM LOANS 221717091 F MASTER LP 20781383 F 789848196 GIFT ANNUITIES PAYABLE 28223695 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 1297561 DUE TO FREEDOM AVIATION FROM C&C AVIATION -25331 OBLIGATIONS UNDER CAPITAL LEASES 409111 29905036 X 954739161 18958999 1632614 9510087 30101700 924637461 234677510 234677510 1159314971 678257286 1632614 4781977 6414591 671842695 234677510 234677510 906520205 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, 2018 OF LIBERTY UNIVERSITY DO 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 A 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, 2018 AND 2017 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE UNIVERSITY'S RESULTS OF ACTIVITIES. CERTAIN SUBSIDIARIES OF THE UNIVERSITY ARE TAXED AS SEPERATE ENTITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT 4,718,111. REVENUE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 24,181,049. ASU RECLASS -25,736,947. EXPENSE FROM NET RENTAL INCOME 11,299,390. FUNDRAISING DIRECT EXPENSES 52,931. CONSOLIDATING ENTRY NOT MADE ON AFS 10,000. INVESTMENT EXPENSES -5,014,447. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 234,677,510. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 24,181,049. EXPENSE FROM NET RENTAL INCOME 11,299,391. FUNDRAISING DIRECT EXPENSES 52,931. ASU RECLASS -25,736,947. INVESTMENT EXPENSES -5,014,447. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 234,677,510. 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 WITH LINKS AT THE BOTTOM OF VIRTUALLY EVERY UNIVERSITY WEBPAGE 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 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 271858 NORTH AMERICA 0 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 79132 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 70135 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 25543 SOUTH ASIA 0 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 33348 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 48344 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MISSION TRIPS & STUDY ABROAD 12534 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 45381600 EUROPE (INCLUDING ICELAND & GREENLAND) 0 3 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS 27120 MIDDLE EAST AND NORTH AFRICA 0 2 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS 22100 NORTH AMERICA 0 1 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS 26200 0 0 0 6 0 6 45922494 75420 45997914 1 0 1 1 1 0 LUCOM GALA 36859 29911 6948 1309 6600 7500 1139 GOLF TOURNAMENT 51360 36800 14560 17588 7168 2640 2195 1 9883 9883 721 6071 98102 66711 31391 1309 18309 7168 9240 7500 9405 52931 -21540 1 LIBERTY UNIVERSITY FOUNDATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 541939910 501(C)(3) 831405 SUPPORTIVE CHRISTIAN NON-PROFIT ORGANIZATION GAINEY FOUNDATION 1593 GALBRAITH AVE SUITE 202 GRAND RAPIDS MI 49546 912025454 501(C)(3) 30000 GENERAL DONATION LYNCHBURG HUMANE SOCIETY INC 1211 OLD GRAVES MILL RD LYNCHBURG VA 24502 540570901 501(C)(3) 5000 INVOLVEMENT AND COMMUNITY OUTREACH OLD TIME GOSPEL HOUR 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 237293001 501(C)(3) 30130 SUPPORTIVE CHRISTIAN NON-PROFIT ORGANIZATION LYNCHBURG REGIONAL BUSINESS ALLIANCE 2015 MEMORIAL AVE LYNCHBURG VA 24501 540165020 501(C)(6) 100000 COMMUNITY SUPPORT SAMARITANS PURSE PO BOX 3000 BOONE NC 28607 581437002 501(C)(3) 5560 GENERAL DONATION TEEN PACT 610 MOOREFIELD PARK DR STE 700 RICHMOND VA 232363693 582252295 501(C)(3) 22000 GENERAL DONATION 6 1 SCHOLARSHIPS 83749 229518964 MISSIONARY ASSISTANCE 62 187685 BENEVOLENCE 4 48114 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, AND FIELD WORKED. X X X X 1 1 X X X X 1 0 0 0 0 0 0 1 0 MR JERRY FALWELL CHANCELLOR/PRESIDENT 985911 0 0 0 24176 0 24000 0 33243 0 1067330 0 0 0 MR DAVID CORRY GENERAL COUNSEL/SECRETARY 240084 0 0 0 0 0 11951 0 23712 0 275747 0 0 0 DR RONALD HAWKINS PROVOST & CHIEF ACADEMIC OFFICER 253866 0 0 0 0 0 12543 0 21124 0 287533 0 0 0 MR DON MOON CFO/VP OF INVESTMENT MGMT 252200 0 0 0 0 0 12352 0 17028 0 281580 0 0 0 MR RANDALL SMITH EVP & COO 562738 0 250000 0 0 0 11130 0 29235 0 853103 0 0 0 DR ROBERT RITZ EVP OF FINANCE 220303 0 8225 0 0 0 10294 0 23544 0 262366 0 0 0 JOHN GAUGER CIO 236724 0 0 0 0 0 11800 0 23663 0 272187 0 0 0 JERRY FALWELL III VP OF UNIVERSITY SUPPORT SERVICES 165209 0 0 0 0 0 8055 0 15811 0 189075 0 0 0 SAMUEL BEAUMONT SENIOR VP OF AUXILIARY SERVICE 213145 0 0 0 0 0 10544 0 19288 0 242977 0 0 0 LAWRENCE HINE SENIOR VP OF STUDENT AFFAIRS 179576 0 0 0 0 0 8887 0 20047 0 208510 0 0 0 CHRIS JOHNSON EVP FOR RESIDENT ENROLLMENT 248016 0 0 0 27551 0 12553 0 23305 0 311425 0 0 0 RONALD KENNEDY EVP OF ONLINE ENROLLMENT 244835 0 50000 0 0 0 12051 0 24170 0 331056 0 0 0 IAN MCCAW DIRECTOR OF ATHLETICS 458279 0 0 0 17797 0 22500 0 27197 0 525773 0 0 0 DR BEN GUTIERREZ CO-PROVOST & VP FOR ACADEMIC AFFAIRS 216037 0 0 0 0 0 9980 0 12362 0 238379 0 0 0 DAVID NASSER SR. VP OF SPIRITUAL DEVELOPMENT 344660 0 0 0 7355 0 17072 0 12687 0 381774 0 0 0 CHARLES SPENCE SR. VP OF FACILITIES MANAGEMENT 238278 0 0 0 0 0 11298 0 21086 0 270662 0 0 0 LAURA WALLACE EVP OF HUMAN RESOURCES 288567 0 0 0 0 0 14147 0 17564 0 320278 0 0 0 TURNER GILL HEAD COACH - FOOTBALL 739126 0 16000 0 0 0 24000 0 29946 0 809072 0 0 0 RITCHIE MCKAY HEAD COACH - MENS BASKETBALL 564194 0 25000 0 0 0 22137 0 29102 0 640433 0 0 0 RAY MORRISON ASST DEAN, CLINICAL EDUCATION 259175 0 0 0 0 0 1091 0 22441 0 282707 0 0 0 DR PETER BELL DEAN, LU COLLEGE OF OSTEOPATHIC MEDI 322394 0 0 0 5660 0 15000 0 18411 0 361465 0 0 0 CAREY GREEN HEAD COACH - WOMENS BASKETBALL 243906 0 15000 0 0 0 11844 0 21392 0 292142 0 0 0 JEFF BARBER FORMER KEY EMPLOYEE 321350 0 0 0 0 0 15583 0 22711 0 359644 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 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 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 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. PART I, LINE 4A JEFF BARBER RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $359,644. 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 ON THE INDIVIDUAL'S W-2. 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 20596481 2013 1 0 1 1 A 0 0 1 1 0 0.02090 0.00320 0.02410 1 0 1 A 1 0 0 0 0 1 A 0 PART I COLUMN F: REFINANCE DEBT: 44,476,507 PART I COLUMN F: CONSTRUCT EDUCATIONALLY RELATED FACILITIES: 76,341,830 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR CONSTRUCTION MANAGEMENT AGENT FOR LU PROJECTS X 750000 356125 0 0 1 356125 363944 GRANTS TO DEPENDENTS OF BOARD MEMBERS, OFFICERS, & KEY EMPLOYEES EDUCATION BENEFITS FOR DEPENDENTS OF EMPLOYEES WESLEY FALWELL SON OF BOARD MEMBER AND OFFICER 54744 COMPENSATION 0 BERNIE BECKLES WIFE OF BOARD MEMBER 17100 COMPENSATION 0 RYAN D RUSH SON IN LAW OF BOARD MEMBER 15000 COMPENSATION 0 VIRGINIA DOW SISTER IN LAW OF AN OFFICER 96671 COMPENSATION 0 SCOTT HAWKINS SON OF AN OFFICER 184175 COMPENSATION 0 JONATHAN WALLACE SON OF A KEY EMPLOYEE 75264 COMPENSATION 0 JOSHUA SPENCE SON OF A KEY EMPLOYEE 22098 COMPENSATION 0 KATHLEEN SPENCE WIFE OF A KEY EMPLOYEE 57622 COMPENSATION 0 JENNIFER KENNEDY WIFE OF A KEY EMPLOYEE 65500 COMPENSATION 0 LAURA FALWELL DAUGHTER IN LAW OF BOARD MEMBER AND OFFICER 57751 COMPENSATION 0 NASTARAN MORGAN SISTER OF A KEY EMPLOYEE 51334 COMPENSATION 0 VINCENT TICKLE SON IN LAW OF BOARD MEMBER 100772 COMPENSATION 0 SARAH FALWELL WIFE OF A KEY EMPLOYEE 63315 COMPENSATION 0 EMILY HINE ELROD DAUGHTER OF A KEY EMPLOYEE 15086 COMPENSATION 0 JESSICA SMITH DAUGHTER OF A KEY EMPLOYEE 38335 COMPENSATION 0 TAMMY GUTIERREZ WIFE OF A KEY EMPLOYEE 43100 COMPENSATION 0 ROBERT N RITZ SON OF AN OFFICER 30590 COMPENSATION 0 BRANDON ELROD SON IN LAW OF A KEY EMPLOYEE 44519 COMPENSATION 0 RUDY NASSER SON OF A KEY EMPLOYEE 34237 COMPENSATION 0 DR ELMER TOWNS CO-FOUNDER 122394 COMPENSATION 0 JENNIFER NASSER WIFE OF A KEY EMPLOYEE 96688 COMPENSATION 0 JF MANAGEMENT OWNED BY WIFE OF KEY EMPLOYEE 58405 COMPENSATION 0 CEDAR RIDGE MANAGEMENT OWNED BY SON OF BOARD MEMBER AND OFFICER 46602 COMPENSATION 0 REDFINCH SOLUTIONS BUSINESS OWNED BY KEY EMPLOYEE 123950 PAYMENT PAID FOR SERVICES; RENT RECEIVED 0 DUCAR INTERNATIONAL BUSINESS OWNED BY BOARD MEMBER 135525 PAYMENT FOR SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 185883 PAYMENT FOR VEHICLE REPAIR SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 200773 PAYMENT FOR DEMOLITION SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 322916 PAYMENT FOR SURVEYING, ENGINEERING, AND PLANNING SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 558119 PAYMENT FOR FUEL & PAYMENT RECEIVED FOR ADVERTISING SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 441315 PAYMENT FOR HEATING AND AIR INSTALLATION 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 9074123 PAYMENT FOR CONSTRUCTION SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 76886103 PAYMENT FOR CONSTRUCTION SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 528918 PAYMENT FOR CONSTRUCTION SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 5294957 PAYMENT FOR MEDIA SERVICES 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 4270413 PAYMENT FOR INVESTMENT MANAGEMENT SERVICES 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS THE COMPENSATION AMOUNTS ALSO INCLUDE BENEFITS. X 7 1654842 FAIR MARKET VALUE X 2 2240000 FAIR MARKET VALUE X EQUIPMENT 2 1170084 FAIR MARKET VALUE X HORSES 6 91499 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. MR. JEFFREY F. BENSON AND MRS. GAYE OVERTON BENSON CURRENTLY SIT ON THE BOARD OF TRUSTEES AND ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 FOR FY JUNE 30, 2018 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, SECTION B, LINE 12C THE CFO COLLECTS ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES AND, PURSUANT TO THE BYLAWS, BRINGS ANY DISCLOSED CONFLICTS OF INTEREST TO THE AUDIT COMMITTEE. IF A CONFLICT OF INTEREST ARISES IT IS HANDLED ON A CASE BY CASE BASIS WHERE LEGAL COUNSEL, THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY DECIDE ON THE MOST APPROPRIATE COURSE OF ACTION. RECUSAL FROM ANY DELIBERATIONS AND VOTE CONCERNING MATTERS IMPACTED BY THE CONFLICT WOULD BE THE TYPICAL SOLUTION. 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. 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 4,718,111. CONSOLIDATING ENTRY NOT MADE ON AFS 10,000. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. 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