2017-01-16T14:05:29-06:00 2016-05-31 621199757 LBMC PC PO BOX 1869 BRENTWOOD TN 370241869 990 2015-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 DANNY H TAYLOR SENIOR VP FOR FINANCE & ADMIN. 6159661000 2017-01-16 1 JILL HUDSON P00061190 6153774600 2017-01-16 2015 2021-01-29 14:40:06Z LIPSCOMB UNIVERSITY DANNY H TAYLOR ONE UNIVERSITY PARK DR NASHVILLE TN 37204 238339536 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. 34 33 3102 200 0 0 12342127 20382727 149154810 158324247 4769271 7828348 916741 913808 167182949 187449130 30229344 33480169 0 0 68154338 71541288 0 0 3985965 63297151 66638414 161680833 171659871 5502116 15789259 263825877 305872179 110806191 147687463 153019686 158184716 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 89640203 33480169 138360129 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL. 20641842 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. 12824067 19964118 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 15262600 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. 2481112 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. 17743712 140849824 1 1 0 0 0 0 0 0 0 1 1 1 0 1 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 7140 0 1 3102 1 0 1 UK 0 0 0 1 1 0 0 0 0 X 34 33 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 GENERAL JOHN A BRADLEY 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 ROBBIE B DAVIS 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 J GREGORY HARDEMAN 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 DOUGLAS SMITH 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 PRESIDENT 40.00 X 370858 0 116322 W CRAIG BLEDSOE PROVOST 40.00 X 186583 0 13322 WALT C LEAVER III VICE PRESIDENT 40.00 X 112043 0 20336 DANNY H TAYLOR SR VP FOR FINANCE & ADMIN/CFO 40.00 X 206370 0 25455 PHILIP N HUTCHESON ASSISTANT VICE PRESIDENT 40.00 X 164627 0 27538 GREG J GLENN HEAD OF SCHOOL 40.00 X 163304 0 25084 SCOTT A MCDOWELL SENIOR VP FOR STUDENT LIFE 40.00 X 143496 0 26984 MATTHEW T PADEN SPECIAL ASSISTANT TO PRESIDENT 40.00 X 120139 0 23416 DAVID G WILSON UNIVERSITY ATTORNEY 40.00 X 151336 0 31666 DEBY K SAMUELS VP OF COMMUNICATIONS & MARKETING 40.00 X 146744 0 18081 SUSAN C GALBREATH VICE PROVOST & PROFESSOR 40.00 X 119971 0 25609 JIMMY L THOMAS PROFESSOR 40.00 X 113781 0 8190 ALLEN D ARMSTRONG JR SENIOR DEVELOPMENT COUNSEL 40.00 X 147236 0 27722 MICHAEL C GREEN VICE PRESIDENT & CIO 40.00 X 155907 0 21817 RICHARD T HOLAWAY VP OF ENROLLMENT MANAGEMENT 40.00 X 112809 0 22933 JOHN R LOWRY VP COMMUNITY & GOVERNMENT RELATIONS 40.00 X 179900 0 27505 WILLIAM S SAGER VP OF CHURCH SERVICES 40.00 X 41956 0 92272 CHARLES R ELDRIDGE DEAN OF COLLEGE OF BUSINESS 40.00 X 184942 0 12936 JOHN R THOMPSON JR PROFESSOR OF PHARMACY 40.00 X 165490 0 24293 ROGER L DAVIS DEAN OF COLLEGE OF PHARMACY 40.00 X 238037 0 23386 CASEY B ALEXANDER COACH 40.00 X 233133 0 33749 THOMAS M CAMPBELL ASSOCIATE DEAN OF PHARMACY 40.00 X 200870 0 30576 3659532 0 679192 118 0 1 0 SODEXO INC AND AFFILIATES 2001 MILLENNIUM PLACE JOHNSON CITY TN 37604 FOODSERVICE 5809342 AMERICAN CONSTRUCTORS INC PO BOX 120129 NASHVILLE TN 372120129 CONSTRUCTION 5515385 FLOW CONSTRUCTION CO INC 3630 TROUSDALE DR APT 3 NASHVILLE TN 372044500 CONSTRUCTION 3989886 SOLOMON BUILDERS INC 4539 TROUSDALE DR NASHVILLE TN 372044513 CONSTRUCTION 2412613 TUCK-HINTON ARCHITECTS PLC 410 ELM ST NASHVILLE TN 372034220 ARCHITECTURAL SERVICES 1545332 81 5053 1529896 18847778 1197930 20382727 TUITION AND FEES 611710 132238249 132238249 AUXILIARY REVENUE 611710 19964118 19964118 MISCELLANEOUS INCOME 611710 5979180 5979180 INCREASE - LIFE INSURA 524298 142700 142700 158324247 1408958 1408958 1498606 612744 885862 885862 885862 56549484 50083370 46724 6466114 -46724 6419390 6419390 175514 5053 147568 27946 27946 187449130 158324247 0 8742156 103824 103824 33376345 33376345 3191318 3191318 56610278 49656102 4758661 2195515 2302703 -367 2303070 5376144 10426902 -5615466 564708 4060845 3412751 490047 158047 53339 17510 35829 96670 96670 185229 185229 6487357 5837670 582069 67618 1366516 1363551 2965 7304515 4867436 2185149 251930 2434352 1089881 1282433 62038 2345602 2263481 80036 2085 7637583 6669147 781594 186842 1067419 1004874 49326 13219 3822782 3822782 5702678 4051396 1651282 5631724 220118 5411606 PLANT OPERATIONS 12041491 11274780 612520 154191 SPECIAL PROJECTS 3637295 2674729 589342 373224 GENERAL EXPENSES 2380910 739247 1641663 MISCELLANEOUS 1727888 1711367 16521 2715064 1452631 1308850 -46417 171659871 140849824 26824082 3985965 7620322 6496306 18245649 22400869 4269899 3792914 1750195 735653 272588765 107470981 145431291 165117784 7429173 7961674 77140969 72563711 1938379 26803268 263825877 305872179 29215349 32261124 1376480 1932569 63646090 96051135 2241950 4198016 3404039 5000000 10922283 8244619 110806191 147687463 X 69192542 68865203 36855888 40707174 46971256 48612339 153019686 158184716 263825877 305872179 X 15789259 -10624226 -3 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 71442976 3711150 -2690186 2204178 1500000 68759762 68330588 2518125 4031315 1937052 1500000 71442976 62274543 3445347 5825495 1714797 1500000 68330588 55828784 2478607 7431475 1689323 1775000 62274543 60089971 1900832 -2120132 1991887 2050000 55828784 0.15480 0.70640 0.13880 0 0 16730366 212154990 91848353 137037003 36085769 15622628 20463141 7617640 7617640 165117784 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 46475776 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 26087935 F 72563711 LIFE INSURANCE POLICIES 2026196 CASH FROM BOND PROCEEDS RESTRICTED FOR CAPITAL PROJECTS 24777072 26803268 ACCRUED PENSION BENEFIT LIABILITY 700561 ACCRUED POSTRETIREMENT BENEFIT OBLIGATION 5414410 FEDERAL STUDENT LOANS REFUNDABLE 2129648 8244619 X 142183813 -10624226 803497 -9820729 152004542 185229 35259359 35444588 187449130 137018783 803502 803502 136215281 185229 35259361 35444590 171659871 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, 2016, 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 147,568. RENTAL EXP. NETTED W/ 990 REVENUE 612,744. LOSS ON DISPOSAL OF FIXED ASSETS NETTED WITH EXPENSE ON F/S 46,724. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANOUS REVENUE ON F/S -3,534. ROUNDING -5. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 33,371,587. F/S INVESTMENT RECLASS 1,887,772. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 147,568. RENTAL EXP. NETTED W/ 990 REVENUE 612,744. LOSS ON DISPOSAL OF FIXED ASSETS NETTED WITH EXPENSE ON F/S 46,724. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANOUS REVENUE ON F/S -3,534. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 33,371,587. F/S INVESTMENT RECLASS 1,887,772. ROUNDING 2. 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 $1,529,896 FOR PERIOD ENDING MAY 31, 2016. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 1 PROGRAM SERVICES GLOBAL INSTRUCTION 44126 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES GLOBAL INSTRUCTION 1499000 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES PROGRAM SERVICES 15430 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 MISSIONS STUDENTS HAVE THE OPPORTUNITY TO BE INVOLVED IN MISSION SERVICES IN FOREIGN COUTNTRIES. 152699 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDENTS HAVE THE OPPORTUNITY TO BE INVOLVED IN MISSION SERVICES IN FOREIGN COUTNTRIES. 38967 1 1 0 0 1 1 1750222 0 1750222 0 0 0 0 0 0 ACADEMY ART EVENT 180567 5053 175514 147568 0 180567 5053 175514 147568 147568 27946 1 HEALING HANDS INTERNATIONAL INC 455 MCNALLY DRIVE NASHVILLE TN 37211 621585366 501C(3) 22698 FMV COMMUNITY SUPPORT 1 SCHOLARSHIPS 2925 33376345 0 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 PRESIDENT 348382 0 0 0 22476 0 17150 0 99172 0 487180 0 0 0 W CRAIG BLEDSOE PROVOST 165665 0 0 0 20918 0 12926 0 396 0 199905 0 0 0 DANNY H TAYLOR SR VP FOR FINANCE & ADMIN/CFO 184355 0 0 0 22015 0 14313 0 11142 0 231825 0 0 0 PHILIP N HUTCHESON ASSISTANT VICE PRESIDENT 145621 0 0 0 19006 0 10965 0 16573 0 192165 0 0 0 GREG J GLENN HEAD OF SCHOOL 159357 0 0 0 3947 0 8954 0 16130 0 188388 0 0 0 SCOTT A MCDOWELL SENIOR VP FOR STUDENT LIFE 127810 0 0 0 15686 0 10363 0 16621 0 170480 0 0 0 DAVID G WILSON UNIVERSITY ATTORNEY 140678 0 0 0 10658 0 10817 0 20849 0 183002 0 0 0 DEBY K SAMUELS VP OF COMMUNICATIONS & MARKETING 117286 0 0 0 29458 0 10511 0 7570 0 164825 0 0 0 ALLEN D ARMSTRONG JR SENIOR DEVELOPMENT COUNSEL 136614 0 0 0 10622 0 10711 0 17011 0 174958 0 0 0 MICHAEL C GREEN VICE PRESIDENT & CIO 139389 0 0 0 16518 0 10675 0 11142 0 177724 0 0 0 JOHN R LOWRY VP COMMUNITY & GOVERNMENT RELATIONS 163857 0 0 0 16043 0 10968 0 16537 0 207405 0 0 0 CHARLES R ELDRIDGE DEAN OF COLLEGE OF BUSINESS 172837 0 0 0 12105 0 12678 0 258 0 197878 0 0 0 JOHN R THOMPSON JR PROFESSOR OF PHARMACY 153617 0 0 0 11873 0 12215 0 12078 0 189783 0 0 0 ROGER L DAVIS DEAN OF COLLEGE OF PHARMACY 213230 0 0 0 24807 0 16512 0 6874 0 261423 0 0 0 CASEY B ALEXANDER COACH 214625 0 0 0 18508 0 15435 0 18314 0 266882 0 0 0 THOMAS M CAMPBELL ASSOCIATE DEAN OF PHARMACY 186436 0 0 0 14434 0 14494 0 16082 0 231446 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 THE HEALTH AND EDUCATION BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 620485733 592041WB9 2016-02-24 62650000 SERIES 2016 A BONDS 0 0 0 A 994586 50000 0 0 0 0 B 191654 0 0 0 1 C 849292 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 1 1 SUNTRUST ROBINSON HUMPHREY 12.000000000000 0 0 0 0 1 C 0 0 1 0 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 61976 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 179900 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 27363 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 15500 RENTAL REAL PROPERTYRENTAL REAL PROPERTY 0 HARRIETTE SHIVERS BOARD MEMBER 37805 RENTAL REAL PROPERTY 0 STEVE CHURCH EX-BOARD MEMBER 277791 RENT/LEASE PAYMENTS 0 X 1 14000 FAIR MARKET VALUE X 29 1152024 FMV AT DATE OF SALE X 2 CHARTERED FLIGHTS 1 13450 FAIR MARKET VALUE X SUPPLIES 5 9016 FAIR MARKET VALUE X FURNITURE 2 4299 FAIR MARKET VALUE X GIFT CERTIFICATES 8 1845 FAIR MARKET VALUE X SHOW TICKETS 4 1620 FAIR MARKET VALUE X SPORTS MEMORABILIA 2 1025 FAIR MARKET VALUE X BOOKS 1 375 FAIR MARKET VALUE X DVD'S AND CD'S 1 276 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 11 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: ROUNDING -3. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE PRIOR YEAR.