2018-01-09T15:08:09-06:00 2017-05-31 621199757 LBMC PC PO BOX 1869 BRENTWOOD TN 370241869 990 2016-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 DANNY H TAYLOR SENIOR VP FOR FINANCE & ADMIN. 6159661000 2018-01-09 1 JILL HUDSON P00061190 6153774600 2017-12-18 8.42.53.250 2018-01-09 15:04:45 CS P 3123BC1ADEDE9295029EE42B0F2C5ACA76B94E78 2938AA6E469DFF2649221CC9B0F836CA4503236F 2016 2021-01-29 14:40:06Z LIPSCOMB UNIVERSITY DANNY H TAYLOR ONE UNIVERSITY PARK DR NASHVILLE TN 37204 203086347 0 X WWW.LIPSCOMB.EDU X 1891 TN LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB ALSO SEEKS TO MAKE A POSITIVE DIFFERENCE IN THE COMMUNITY. 30 29 3221 200 0 0 20382727 20515885 158324247 164956991 7828348 1848867 913808 1155891 187449130 188477634 33480169 35608899 0 0 71541289 74026418 0 0 4062375 66638414 67805904 171659872 177441221 15789258 11036413 305872179 329062002 147687470 148400399 158184709 180661603 X LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB SEEKS TO BE ENGAGED IN THE COMMUNITY AND TO BE A GOOD NEIGHBOR AS IT CONTINUES TO GROW. 0 0 92874095 35608899 144083994 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL. 21726924 STUDENT SERVICES:ENGAGING STUDENT LIFE IN A DYNAMIC AND DIVERSE COMMUNITY THAT GIVES STUDENTS THE OPPORTUNITY TO BE REAL WITH THEMSELVES AND EACH OTHER WHILE PROVIDING OPPORTUNITIES FOR SPIRITUAL FAITH DEVELOPMENT THROUGH SERVICE AND LEARNING. 13496859 20872997 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 14974278 ACADEMIC SUPPORT:INCLUDES ACADEMIC COUNSELING & TESTING SERVICES, ACADEMIC PROGRAM DEVELOPMENT, UNIVERSITY DEANS, INSTRUCTIONAL TECHNOLOGY, LIBRARY SERVICES, AND OTHER AREAS DESIGNED TO ENHANCE A STUDENT'S LEARNING EXPERIENCE AND THE OVERALL QUALITY OF A STUDENT'S EDUCATION. 2664111 PUBLIC SERVICES:INCLUDES COMMUNITY OUTREACH ACTIVITIES, SPIRITUAL FORMATION ACTIVITIES, AND SUSTAINABILITY WHERE LIPSCOMB CAN POSITIVELY IMPACT COMMUNITIES AND THE ENVIRONMENT. RESEARCH:INCLUDES POTENTIAL DISCOVERIES OF NEW OUTCOMES WITH A GOAL OF ADVANCING PROGRESS BOTH INSTITUTIONALLY AND GLOBALLY. 17638389 145736267 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 7310 0 1 3221 1 0 1 UK 0 0 0 1 1 0 0 0 0 X 30 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X DANNY H TAYLOR SVP FOR FINANCE & ADMINISTRATION 6159667650 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 37204 J ADDISON BARRY BOARD MEMBER 1.00 X 0 0 0 BUDDY BELL BOARD MEMBER 1.00 X 0 0 0 ROBERT A BRACKETT BOARD MEMBER 1.00 X 0 0 0 LORI SUTTON BRIDGES BOARD MEMBER 1.00 X 0 0 0 GERALD COGGIN BOARD MEMBER 1.00 X 0 0 0 JERRY COVER BOARD MEMBER 1.00 X 0 0 0 RICHARD G COWART BOARD MEMBER 1.00 X 0 0 0 DIANE CREEL BOARD MEMBER 1.00 X 0 0 0 SALLIE DEAN BOARD MEMBER 1.00 X 0 0 0 MITCH EDGEWORTH BOARD MEMBER 1.00 X 0 0 0 JAMES GRIFFITH BOARD MEMBER 1.00 X 0 0 0 PETE T GUNN III BOARD MEMBER 1.00 X 0 0 0 BART HARPER BOARD MEMBER 1.00 X 0 0 0 WILLIAM R HUSTON BOARD MEMBER 1.00 X 0 0 0 MARTY R KITTRELL BOARD MEMBER 1.00 X 0 0 0 JOHN LITTLE BOARD MEMBER 1.00 X 0 0 0 BILLY LONG BOARD MEMBER 1.00 X 0 0 0 JW PITTS JR BOARD MEMBER 1.00 X 0 0 0 KENNETH SHUMARD BOARD MEMBER 1.00 X 0 0 0 CICELY SIMPSON BOARD MEMBER 1.00 X 0 0 0 VICKI SENSING SMITH BOARD MEMBER 1.00 X 0 0 0 NEIKA B STEPHENS BOARD MEMBER 1.00 X 0 0 0 TIM S THOMAS BOARD MEMBER 1.00 X 0 0 0 ROBERT E WOOD BOARD MEMBER 1.00 X 0 0 0 MARK H YOKLEY BOARD MEMBER 1.00 X 0 0 0 JAMES C ALLEN TREASURER 1.00 X 0 0 0 DAVID W SCOBEY JR CHAIR 1.00 X 0 0 0 HARRIETTE H SHIVERS SECRETARY 1.00 X 0 0 0 DAVID L SOLOMON VICE CHAIR 1.00 X 0 0 0 RANDY R LOWRY III BOARD MEMBER/PRESIDENT 40.00 X 596913 0 117539 W CRAIG BLEDSOE PROVOST 40.00 X 189720 0 13450 WALT C LEAVER III VICE PRESIDENT 40.00 X 114040 0 21267 DANNY H TAYLOR SR VP FOR FINANCE & ADMIN/CFO 40.00 X 209657 0 26222 PHILIP N HUTCHESON ATHLETIC DIRECTOR 40.00 X 164502 0 28605 GREG J GLENN HEAD OF SCHOOL 40.00 X 166327 0 28957 SCOTT A MCDOWELL SENIOR VP FOR STUDENT LIFE 40.00 X 146364 0 28044 PHILLIP W ELLENBURG VP OF ALUMNI RELATIONS 40.00 X 129946 0 29141 SUSAN C GALBREATH SR VP FOR STRATEGY/PROFESSOR 40.00 X 139038 0 27605 MICHAEL C GREEN VICE PRESIDENT & CIO 40.00 X 165837 0 23177 RICHARD T HOLAWAY VP OF ENROLLMENT MANAGEMENT 40.00 X 120384 0 24407 JOHN R LOWRY VP DEVELOPMENT & EXTERNAL AFFAIRS 40.00 X 174667 0 29045 WILLIAM S SAGER VP OF CHURCH SERVICES 40.00 X 46679 0 88545 DAVID G WILSON UNIVERSITY ATTORNEY 40.00 X 153751 0 32973 CHARLES R ELDRIDGE DEAN OF COLLEGE OF BUSINESS 40.00 X 197340 0 13558 ROGER L DAVIS DEAN OF COLLEGE OF PHARMACY 40.00 X 242401 0 23980 CASEY B ALEXANDER COACH 40.00 X 239693 0 35820 THOMAS M CAMPBELL ASSOCIATE DEAN OF PHARMACY 40.00 X 202696 0 31458 STEPHEN H HEFFINGTON ASST PROF/MED DIR PA PROG 40.00 X 129349 0 17350 3529304 0 641143 134 0 1 0 AMERICAN CONSTRUCTORS INC PO BOX 120129 NASHVILLE TN 372120129 CONSTRUCTION 13442837 SOLOMON BUILDERS INC 4539 TROUSDALE DR NASHVILLE TN 372044513 CONSTRUCTION 11258213 SODEXO INC AND AFFILIATES 1 UNIVERSITY PARK DR NASHVILLE TN 372043956 FOOD SERVICE 6570958 US BANK PO BOX 70870 SAINT PAUL MN 551700001 LOCKBOX SERVICES - CM 9705 3249521 CASE RESTORATION CO PO BOX 171053 NASHVILLE TN 37217 COMMERCIAL RESTORATION 2580789 99 12571 1516594 18986720 886246 20515885 TUITION AND FEES 611710 138028084 138028084 AUXILIARY REVENUE 611710 20872997 20872997 MISCELLANEOUS INCOME 611710 6055910 6055910 164956991 1683648 1683648 1683089 580188 1102901 1102901 1102901 13903145 136500 13728426 146000 174719 -9500 165219 165219 207089 12571 154099 52990 52990 188477634 164956991 0 3004758 80326 80326 35528573 35528573 3314048 3314048 59618966 52570851 4764559 2283556 2416535 -102515 2519050 4397158 10504336 -6669732 562554 4279711 3607008 505547 167156 104239 26821 77009 409 137350 137350 170839 170839 7158215 6552060 517897 88258 1507832 1505831 2001 7414632 4854454 2264790 295388 2062039 879572 808076 374391 2954159 2731551 220371 2237 7203883 6257243 790635 156005 1001178 877425 97516 26237 4434576 4434576 6492383 4318917 2173466 4860036 230179 4629857 PLANT OPERATIONS 12411114 11022255 1256805 132054 SPECIAL PROJECTS 3514971 2390020 1123984 967 MISCELLANEOUS 1877648 1814044 63604 GENERAL EXPENSES 1610750 93156 1517594 2890060 1499991 1418907 -28838 177441221 145736267 27642579 4062375 6496306 12012432 22400869 25247982 3792914 4377850 735653 1159973 309344030 112328224 165117784 197015806 7961674 7981129 72563711 79145393 26803268 2121437 305872179 329062002 32261131 32151294 1932569 1852785 96051135 98229002 4198016 8703648 5000000 8244619 7463670 147687470 148400399 X 68865196 83422834 40707174 45880300 48612339 51358469 158184709 180661603 305872179 329062002 X 11036413 8543839 2896642 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 41613 0 0 41613 0 SCHEDULE C, PART II-B LIPSCOMB UNIVERSITY EMPLOYS AN INDIVIDUAL WHOSE POSITION INCLUDES MEETING AND CORRESPONDING WITH THE STATE REPRESENTATIVES TO ADVOCATE FOR INCREASED FUNDING FOR THE ORGANIZATION IN THE STATE BUDGET. THE EMPLOYEE ALSO MEETS AND CORRESPONDS WITH LOCAL GOVERNMENT OFFICIALS TO INFLUENCE AGENDAS THAT ARE IMPORTANT TO THE UNIVERSITY. X X X 68759762 3765632 10082529 2332792 1250000 79025131 71442976 3711150 -2690186 2204178 1500000 68759762 68330588 2518125 4031315 1937052 1500000 71442976 62274543 3445347 5825495 1714797 1500000 68330588 55828784 2478607 7431475 1689323 1775000 62274543 0.22600 0.64910 0.12500 0 0 17679786 234418837 97137634 154960989 36658916 15190590 21468326 20586491 20586491 197015806 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 51588156 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 27557237 F 79145393 ACCRUED PENSION BENEFIT LIABILITY 200556 ACCRUED POSTRETIREMENT BENEFIT OBLIGATION 5320243 FEDERAL STUDENT LOANS REFUNDABLE 1942871 7463670 X 163538846 8543839 3630458 12174297 151364549 170839 36942246 37113085 188477634 141061952 733816 733816 140328136 170839 36942246 37113085 177441221 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO PROVIDE FUNDS FOR PROFESSORSHIPS, CHAIRS AND SCHOLARSHIPS FOR STUDENTS AND GENERAL SUPPORT FOR OPERATIONS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE 501(C)(3) AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. AS OF MAY 31, 2017, THE UNIVERSITY HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE UNIVERSITY'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 154,099. RENTAL EXP. NETTED W/ 990 REVENUE 580,188. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANOUS REVENUE ON F/S -471. GAIN ON INTEREST RATE SWAP AGREEMENTS (UNREAL) 2,050,055. UNREALIZED CHANGE IN CASH VALUE LIFE INS 119,939. ADJ OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 122,508. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 94,167. CHANGE IN DEFINED BENEFIT RETIREMENT PLAN OBLIGATION 500,005. ADJUSTMENTS OF ACTUARIAL LIABILITY FOR ANNUITIES 9,968. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 35,528,573. F/S INVESTMENT RECLASS 1,339,344. DIFFERENCE IN FINANCIAL AID 74,329. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 154,099. RENTAL EXP. NETTED W/ 990 REVENUE 580,188. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANOUS REVENUE ON F/S -471. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 35,528,573. F/S INVESTMENT RECLASS 1,339,344. DIFFERENCE IN FINANCIAL AID 74,329. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 LIPSCOMB UNIVERSITY PUBLISHES ITS NOTICE OF NONDISCRIMINATORY POLICY" IN BROCHURES, STUDENT HANDBOOKS, CATALOGS, ON THEIR WEBSITE AS WELL AS THEIR JOB POSTING ADS. SCHEDULE E, PART I, LINE 6 GOVERNMENT GRANTS TOTALED $1,516,594 FOR PERIOD ENDING MAY 31, 2017. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES COURSES OFFERED TO US STUDENTS ONLY 1415429 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 3 3 PROGRAM SERVICES COURSES OFFERED TO US STUDENTS ONLY 60013 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES COURSES OFFERED TO US STUDENTS ONLY 488110 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 1 1 PROGRAM SERVICES COURSES OFFERED TO US STUDENTS ONLY 24750 4 4 0 0 4 4 1988302 0 1988302 0 0 0 0 0 0 ACADEMY ART EVENT 219660 12571 207089 154099 0 219660 12571 207089 154099 154099 52990 1 TUSKEGEE HUMAN & CIVIL RIGHTS MULTICULTURAL CENTER INC PO BOX 830239 TUSKEGEE AL 36083 721378363 501C(3) 25000 FMV GENERAL FUND BEST BUDDIES INTERNATIONAL INC 100 SE 2ND ST 2200 MIAMI FL 33131 521614576 501C(3) 10250 FMV GENERAL FUND BAREFOOT REPUBLIC INC PO BOX 40365 NASHVILLE TN 37204 621841336 501C(3) 5000 FMV GENERAL FUND MANNA PROJECT INTERNATIONAL PO BOX 536144 ORLANDO FL 32853 364547264 501C(3) 5000 FMV GENERAL FUND NASBA CENTER FOR THE PUBLIC TRUST 150 FOURTH AVENUE NORTH SUITE 700 NASHVILLE TN 37219 201746267 501C(3) 5000 FMV GENERAL FUND SCHOLARSHIPS 3261 35528573 FMV NONE PART I, LINE 2: LIPSCOMB UNIVERSITY HAS AN ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS AND AN ANNUAL AUDIT OF ITS FINANCIAL AID AWARDING PROCESS (CALLED THE OMB CIRCULAR A-133 AUDIT). IN ADDITION, FINANCIAL AID COUNSELORS ATTEND CONFERENCES AND TRAINING SESSIONS ON FINANCIAL AID AWARDING POLICIES, PROCEDURES, AND CONTROLS. X X X X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 RANDY R LOWRY III BOARD MEMBER/PRESIDENT 573976 0 0 0 22937 0 17150 0 100389 0 714452 0 0 0 W CRAIG BLEDSOE PROVOST 169000 0 0 0 20720 0 13054 0 396 0 203170 0 0 0 DANNY H TAYLOR SR VP FOR FINANCE & ADMIN/CFO 187741 0 0 0 21916 0 14455 0 11767 0 235879 0 0 0 PHILIP N HUTCHESON ATHLETIC DIRECTOR 145598 0 0 0 18904 0 11074 0 17531 0 193107 0 0 0 GREG J GLENN HEAD OF SCHOOL 154310 0 0 0 12017 0 12017 0 16940 0 195284 0 0 0 SCOTT A MCDOWELL SENIOR VP FOR STUDENT LIFE 130452 0 0 0 15912 0 10465 0 17579 0 174408 0 0 0 PHILLIP W ELLENBURG VP OF ALUMNI RELATIONS 115748 0 0 0 14198 0 9450 0 19691 0 159087 0 0 0 SUSAN C GALBREATH SR VP FOR STRATEGY/PROFESSOR 127956 0 0 0 11082 0 10026 0 17579 0 166643 0 0 0 MICHAEL C GREEN VICE PRESIDENT & CIO 146761 0 0 0 19076 0 11410 0 11767 0 189014 0 0 0 JOHN R LOWRY VP DEVELOPMENT & EXTERNAL AFFAIRS 157829 0 0 0 16838 0 11550 0 17495 0 203712 0 0 0 DAVID G WILSON UNIVERSITY ATTORNEY 135627 0 0 0 18124 0 10924 0 22049 0 186724 0 0 0 CHARLES R ELDRIDGE DEAN OF COLLEGE OF BUSINESS 179198 0 0 0 18142 0 13300 0 258 0 210898 0 0 0 ROGER L DAVIS DEAN OF COLLEGE OF PHARMACY 216898 0 0 0 25503 0 16676 0 7304 0 266381 0 0 0 CASEY B ALEXANDER COACH 220115 0 0 0 19578 0 16207 0 19613 0 275513 0 0 0 THOMAS M CAMPBELL ASSOCIATE DEAN OF PHARMACY 188130 0 0 0 14566 0 14566 0 16892 0 234154 0 0 0 STEPHEN H HEFFINGTON ASST PROF/MED DIR PA PROG 125149 0 0 0 4200 0 2100 0 15250 0 146699 0 0 0 A THE HEALTH AND EDUCATION BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 626139016 2013-11-26 5050000 SERIES 2013 BONDS 0 0 0 B THE HEALTH AND EDUCATION BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 626139016 2016-03-10 42350000 SERIES 2016 B BONDS 0 0 0 C LIPSCOMB UNIVERSITY 620485733 592041WB9 2016-02-24 62650000 SERIES 2016 A BONDS 0 0 0 A 994586 50000 0 0 0 1 B 191654 0 0 0 1 C 849292 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 1 SUNTRUST ROBINSON HUMPHREY 12.000000000000 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K SUPPLENTAL INFORMATION SERIES 2013 BONDS AND SERIES 2016 B BONDS HAVE BEEN REPORTED AS ONE BOND ISSUANCE FOR FORM 8038. RHONDA LOWRY PRESIDENT'S SPOUSE 63168 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 174667 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 30074 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 15500 RENTAL REAL PROPERTY 0 HARRIETTE SHIVERS BOARD MEMBER 37805 RENTAL REAL PROPERTY 0 X 22 508246 FMV AT DATE OF SALE X 1 375000 FAIR MARKET VALUE X BABY GRAND PIANO 1 3000 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 UNIVERSITY PRESIDENT RANDY LOWRY IS THE FATHER OF JOHN LOWRY VICE PRESIDENT FOR COMMUNITY & GOVERNMENT RELATIONS. FORM 990, PART VI, SECTION B, LINE 11B BOARD DELEGATES THIS RESPONSIBILITY TO THE AUDIT COMMITTEE OF THE BOARD. ONCE THE AUDIT COMMITTEE HAS APPROVED FORM 990, IT IS POSTED ON THE LIPSCOMB TRUSTEE WEBSITE PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C RELATED PARTY CONFIRMATIONS ARE REVIEWED AND FOLLOWED UP BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, AS WELL AS THE UNIVERSITY'S INDEPENDENT ACCOUNTING FIRM, LBMC, ON AN ANNUAL BASIS. ALSO, THE AUDIT COMMITTEE OF THE BOARD REVIEWS RELATED PARTY RELATIONSHIPS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD SETS THE PRESIDENT'S SALARY ANNUALLY BASED ON HIS CONTRACT. HIS INITIAL COMPENSATION WAS ESTABLISHED BASED ON A REVIEW OF MARKET DATA AND THE NEGOTIATION PROCESS. THIS SAME PROCESS OCCURS WITH OTHER OFFICERS AND KEY EMPLOYEES. SALARY POOL INCREASES ARE ALSO A COMPENENT OF ANNUAL COMPENSATION BASED ON APPROVED BUDGET FUNDING. FORM 990, PART VI, SECTION C, LINE 18 THE UNIVERSITY MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP AGREEMENTS 2,050,055. UNREALIZED - CHANGE IN CASH VALUE OF LIFE INSURANCE 119,939. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 94,167. ADJUSTMENTS OF ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 122,508. ADJUSTMENTS OF ACTUARIAL LIABILITY FOR ANNUITIES 9,968. CHANGE IN DEFINED BENEFIT RETIREMENT PLAN OBLIGATION 500,005. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE PRIOR YEAR.