2016-05-16T15:12:22-05:00 2015-06-30 560747981 DIXON HUGHES GOODMAN LLP 901 EAST CARY STREET SUITE 1000 RICHMOND VA 23219 990 2014-07-01 540946734 LIBERTY UNIVERSITY INC LIBE 4345923237 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 DON MOON CFO 4345923237 2016-05-16 1 AMY BIBBY P00445891 8042827636 2014 2016-08-17 19:52:53Z DON MOON 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 1850267149 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. 36 28 10395 5000 3402296 0 25408018 11445389 922131897 963220931 39027230 23556873 2316008 3605357 988883153 1001828550 180360882 202527296 0 0 290812089 321081239 0 0 5759705 234716609 254889377 705889580 778497912 282993573 223330638 1847567734 2072987998 420235925 446757836 1427331809 1626230162 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 639278255 202527296 862437390 INSTRUCTION OF APPROXIMATELY 113,193 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. 41304653 97932851 LIBERTY UNIVERSITY MAINTAINS A CAMPUS BOOKSTORE, HOUSING AND DINING FACILITIES, TRANSPORTATION SERVICES, ATHLETIC FACILITIES, BROADCASTING FACILITIES AND OTHER SUPPORTS SERVICES AND FACILITIES ADDING TO THE STUDENT EXPERIENCE. 680582908 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 0 1 684 0 1 10395 1 1 1 1 CJ 0 0 0 1 1 0 0 0 1 0 X 36 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA NC AL NH OR SC X DON MOON CFO 4345923237 1971 UNIVERSITY BOULEVARD LYNCHBURG VA 24515 MR JERRY FALWELL CHANCELLOR/PRESIDENT 55.00 X X 896610 0 30024 MRS GAYE OVERTON BENSON TRUSTEE 2.00 X 0 0 0 DR DAVID RHODENHIZER TRUSTEE 2.00 X 0 0 0 DR JERRY THORPE TRUSTEE 2.00 X 0 0 0 DR DON CRAIN TRUSTEE 2.00 X 0 0 0 MR MARK DEMOSS TRUSTEE 4.00 X 0 0 0 MR HARVEY GAINEY TRUSTEE 2.00 X 0 0 0 DR TIM LEE TRUSTEE 2.00 X 0 0 0 DR ALLEN MCFARLAND TRUSTEE & ADJUNCT PROFESSOR 5.00 X 6600 0 505 DR DWIGHT REIGHARD TRUSTEE 2.00 X 0 0 0 MR GILBERT TINNEY JR TRUSTEE 2.00 X 0 0 0 MR JEFFREY S YAGER TRUSTEE 3.00 X 0 0 0 MR NEAL ASKEW SPECIAL ASSISTANT TO THE PRESIDENT 55.00 X X 59256 0 11427 PASTOR JONATHAN FALWELL TRUSTEE & VICE CHANCELLOR OF SPIRITUAL AFFAIRS 9.00 X 50400 0 3856 DR GENE MIMS TRUSTEE 2.00 X 0 0 0 DR JERRY PREVO TRUSTEE 2.00 X 0 0 0 DR JERRY VINES TRUSTEE 2.00 X 0 0 0 MR FLEET BROWNING TRUSTEE 2.00 X 0 0 0 MR J MARION COMPTON TRUSTEE 2.00 X 0 0 0 REV CARL WEISER TRUSTEE 2.00 X 0 0 0 DR JACK DINSBEER TRUSTEE 2.00 X 0 0 0 MR JOHN HEATH TRUSTEE 2.00 X 0 0 0 DR RONALD GODWIN SENIOR VP FOR ACADEMIC AFFAIRS 45.00 X X 249172 0 29736 MR RICHARD OSBORNE TRUSTEE 2.00 X 0 0 0 MR JEFFREY F BENSON TRUSTEE 2.00 X 0 0 0 MR JIMMY THOMAS SR TRUSTEE 2.00 X 0 0 0 DR JEFF GINN TRUSTEE & ADJUNCT PROFESSOR 2.00 X 28280 0 2163 DR MARK BECTON TRUSTEE 2.00 X 0 0 0 MR GALEN PEEL SR TRUSTEE 2.00 X 0 0 0 MR CARROLL HUDSON TRUSTEE 4.00 X 0 0 0 EVANGELIST WILLIAM F GRAHAM TRUSTEE 2.00 X 0 0 0 MR STEVEN A SNYDER TRUSTEE 2.00 X 0 0 0 PASTOR JASON SUITT TRUSTEE 2.00 X 0 0 0 MR GLEN THOMAS TRUSTEE 2.00 X 0 0 0 MR JIMMY THOMAS JR TRUSTEE 2.00 X 0 0 0 MR ANTHONY BECKLES TRUSTEE 2.00 X 0 0 0 MR DON MOON CFO/VP OF INVESTMEMT MANAGEMENT 55.00 X 212308 0 25378 CHRIS JOHNSON EXEC VP FOR ENROLLMENT MANAGEMENT 55.00 X 241056 0 31032 JOSEPH SHIPMAN ASSISTANT SECRETARY 40.00 X 65753 0 8853 SAMUEL BEAUMONT SENIOR VP OF AUXILIARY SERVICE 40.00 X 168990 0 26755 DAVID CORRY GENERAL COUNSEL/SECRETARY 40.00 X 187521 0 30401 LAWRENCE HINE SENIOR VP OF STUDENT AFFAIRS 40.00 X 139407 0 27201 RONALD KENNEDY EXEC VP OF MARKETING 40.00 X 200035 0 30179 JOHNNIE MOORE JR SENIOR VP OF COMMUNICATIONS 40.00 X 110802 0 22360 CHARLES SPENCE SENIOR VP OF CONSTRUCTION PLANNING 40.00 X 240452 0 30889 LAURA WALLACE EXEC VP OF HUMAN RESOURCES 40.00 X 238218 0 31216 CHRISTIAN KENNEDY EXEC VP FOR SPECIAL PROJECTS 40.00 X 333120 0 33264 JEFF BARBER DIRECTOR OF ATHLETICS 55.00 X 342396 0 39209 RON HAWKINS VP FOR ACADEMIC AFFAIRS & PROVOST 55.00 X 182964 0 26903 DAVID NASSER SENIOR VP FOR SPIRITUAL DEVELOPMENT 55.00 X 99602 0 8278 RANDY SMITH EXECUTIVE VICE PRESIDENT - BEG 1/15 45.00 X 0 0 0 ROBERT RITZ VP OF FINANCIAL AID & STATE RELATIONS 40.00 X 194398 0 21305 RONNIE MARTIN COLLEGE OF OSTEOPATHIC MEDICINE DEAN 55.00 X 339487 0 32924 TURNER GILL HEAD COACH - FOOTBALL 55.00 X 698492 0 51624 ROBERT WIMBERLY DEFENSE COORD/LINEBACKERS & SAFETIES 55.00 X 270545 0 33147 DALE LAYER HEAD COACH - MEN'S BASKETBALL 55.00 X 302827 0 37753 AARON STAMN OFFENSIVE COORD/TIGHT ENDS COACH 55.00 X 260360 0 30114 6119051 0 656496 297 0 1 0 BRANCH & ASSOCIATES INC PO BOX 40051 ROANOKE VA 24022 CONSTRUCTION 30897858 ENGLISH CONSTRUCTION COMPANY INC PO BOX P7000 LYNCHBURG VA 24502 CONSTRUCTION 23264810 PLATTFORM ADVERTISING INC 3425 MOMENTUM PL CHICAGO IL 60689 ADMISSIONS LEADS GENERATION 15659509 CONSTRUCTION MANAGEMENT ASSOCIATES INC PO BOX 3020 LYNCHBURG VA 24503 CONSTRUCTION 13455907 GOOGLE INC 1600 AMPHITHEATRE PKWY MOUNTAIN VIEW CA 94043 ADMISSIONS LEADS GENERATION 6206249 261 4086056 7359333 84108 11445389 TUITION AND FEES 611710 868130165 868130165 ROOM & BOARD 611710 63886304 61768550 2117754 STUDENT FEES 611710 13023320 13023320 BOOKSTORE/CONCESSIONS 611710 9787751 9787751 STUDENT ACTIVITIES 611710 8393391 8238581 154810 963220931 20667348 26211 20641137 260217 260217 4559718 222758 2822572 83887 1737146 138871 1876017 222328 1653689 846904150 1517515 842848569 2683571 4055581 -1166056 2889525 -1166056 4055581 SPONSORSHIPS/ADVERTISING 511120 803112 476976 326136 OTHER INCOME 611710 505430 140654 364776 TENNIS RECREATIONAL CENTER 711210 160581 -29700 190281 1469123 1001828550 960370241 3402296 26610624 1454634 1454634 201072662 201072662 7027567 5832880 1124411 70276 875832 726941 140133 8758 249874643 207395954 39979943 2498746 5003343 4152775 800535 50033 40084205 33269890 6413473 400842 18215649 15118989 2914504 182156 189151 156995 30264 1892 1680457 1394779 268873 16805 253672 210548 40587 2537 27801 23075 4448 278 4885836 4055244 781734 48858 58983636 48956418 9437382 589836 13745423 11408701 2199268 137454 6107783 5069460 977245 61078 9824098 8154001 1571856 98241 389126 322975 62260 3891 10956064 9093533 1752970 109561 6093445 5057560 974951 60934 934130 775328 149461 9341 10692371 8874668 1710779 106924 33840063 28087252 5414410 338401 3823808 3173761 611809 38238 STUDENT FOOD SERVICES 21120668 17530154 3379307 211207 BAD DEBT EXPENSE 20685101 17168634 3309616 206851 OTHER SUPPLIES 17377667 14423463 2780427 173777 NON CAPITAL EQUIPMENT 13546445 11243550 2167431 135464 19732632 16378084 3157222 197326 778497912 680582908 92155299 5759705 100034813 34637891 175347942 273993482 148138 34480 87607554 79902954 4384117 3599494 186471 140735 4794604 11610500 1052622185 223336837 658798687 829285348 375705495 338465045 431701103 488766895 452842 3155121 1003401 931984 7402567 8464069 1847567734 2072987998 59331060 63018578 116473698 138534316 217229730 214295846 27201437 30909096 420235925 446757836 X 1411694423 1609667135 4297602 4222638 11339784 12340389 1427331809 1626230162 1847567734 2072987998 X 223330638 -19949621 -4482664 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27801 27801 778470111 778497912 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 165168 23137 42398 27801 258504 250000 250000 250000 250000 1000000 1500000 98763 1759 100522 X 0 126421721 925685737 2489259 109603 1054487114 101837308 20983893 3605535 5015 126421721 58646614 41270965 1959400 39671 101837308 54106338 2476947 2117275 53946 58646614 50659154 1653378 3851499 50158 2007533 54106340 0.98800 0.01200 0 0 76358845 76358845 585447371 103494017 481953354 273719328 104419560 169299768 117096641 15423260 101673381 829285348 LONG/SHORT EQUITY FUNDS 218968482 F MASTER LIMITED PARTNERSHIPS 21506865 F OTHER ASSET BACKED SECURITIES 5546475 F TERM LOANS 242745073 F 488766895 GIFT ANNUITIES PAYABLE 28263708 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 2556091 DUE TO FREEDOM AVIATION FROM C&C AVIATION 89297 30909096 X 790280191 -19949621 9446944 -10502677 800782868 201045682 201045682 1001828550 591381838 13929608 13929608 577452230 201045682 201045682 778497912 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, 2015 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 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, 2015 AND 2014 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE UNIVERSITY'S RESULTS OF ACTIVITIES. THE UNIVERSITY HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2015. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2012 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2012, REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT -4,482,664. REVENUE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 11,023,149. EXPENSE FROM NET RENTAL INCOME 2,906,459. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 201,045,682. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSE FROM SUBSIDIARIES NOT INCLUDED IN THIS RETURN 11,023,149. EXPENSE FROM NET RENTAL INCOME 2,906,459. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 201,045,682. 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 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 3 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 20320 NORTH AMERICA - CANADA AND MEXICO 0 3 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 61960 MIDDLE EAST AND NORTH AFRICA - 0 3 PROGRAM SERVICES EMPLOYMENT OF INSTRUCTORS SERVING DISTANCE LEARNING STUDENTS. 77200 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 73949895 0 9 0 0 0 9 74109375 0 74109375 1 0 1 1 1 0 1 LIBERTY CHRISTIAN ACADEMY 100 MOUNTAIN VIEW ROAD LYNCHBURG VA 24502 540831546 501(C)(3) 208658 ADVANCE THE GOSPEL OF JESUS CHRIST THROUGH EDUCATION LIBERTY UNIVERSITY FOUNDATION 1971 UNIVERSITY BLVD LYNCHBURG VA 24515 541939910 501(C)(3) 780314 OPERATIONAL SUPPORT OF RELATED CHRISTIAN AFFILIATE LYNCHBURG BEACON OF HOPE PO BOX 1261 LYNCHBURG VA 24505 453797831 501(C)(3) 5000 ADVANCE THE GOSPEL OF JESUS THROUGH MINISTRY LYNCHBURG HUMANE SOCIETY INC 3305 NAVAL RESERVE ROAD LYNCHBURG VA 24501 540570901 501(C)(3) 250000 SUPPORT OF UNIVERSITY STUDENTS INVOLVEMENT AND COMMUNITY OUTREACH THOMAS ROAD BAPTIST CHURCH 1 MOUNTAIN VIEW RD LYNCHBURG VA 24502 260061907 501(C)(3) 55000 ADVANCE THE GOSPEL OF JESUS CHRIST THROUGH CHURCH PLANTING 5 0 SCHOLARSHIPS 81859 201045682 BOOK N/A MISSIONARY ASSISTANCE 33 26980 BOOK N/A 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 1 1 X X X 0 0 0 0 0 0 0 0 0 MR JERRY FALWELL CHANCELLOR/PRESIDENT 896610 0 0 0 0 0 0 0 30024 0 926634 0 0 0 DR RONALD GODWIN SENIOR VP FOR ACADEMIC AFFAIRS 249172 0 0 0 0 0 12500 0 17236 0 278908 0 0 0 MR DON MOON CFO/VP OF INVESTMEMT MANAGEMENT 212308 0 0 0 0 0 10300 0 15078 0 237686 0 0 0 CHRIS JOHNSON EXEC VP FOR ENROLLMENT MANAGEMENT 241056 0 0 0 0 0 10300 0 20732 0 272088 0 0 0 SAMUEL BEAUMONT SENIOR VP OF AUXILIARY SERVICE 168990 0 0 0 0 0 8250 0 18505 0 195745 0 0 0 DAVID CORRY GENERAL COUNSEL/SECRETARY 187521 0 0 0 0 0 9200 0 21201 0 217922 0 0 0 LAWRENCE HINE SENIOR VP OF STUDENT AFFAIRS 139407 0 0 0 0 0 6850 0 20351 0 166608 0 0 0 RONALD KENNEDY EXEC VP OF MARKETING 200035 0 0 0 0 0 8957 0 21222 0 230214 0 0 0 CHARLES SPENCE SENIOR VP OF CONSTRUCTION PLANNING 240452 0 0 0 0 0 11250 0 19639 0 271341 0 0 0 LAURA WALLACE EXEC VP OF HUMAN RESOURCES 238218 0 0 0 0 0 11587 0 19629 0 269434 0 0 0 CHRISTIAN KENNEDY EXEC VP FOR SPECIAL PROJECTS 333120 0 0 0 0 0 11750 0 21514 0 366384 0 0 0 JEFF BARBER DIRECTOR OF ATHLETICS 342396 0 0 0 0 0 15750 0 23459 0 381605 0 0 0 RON HAWKINS VP FOR ACADEMIC AFFAIRS & PROVOST 182964 0 0 0 0 0 8072 0 18831 0 209867 0 0 0 ROBERT RITZ VP OF FINANCIAL AID & STATE RELATION 194398 0 0 0 0 0 0 0 21305 0 215703 0 0 0 RONNIE MARTIN COLLEGE OF OSTEOPATHIC MEDICINE DEAN 339487 0 0 0 0 0 11813 0 21111 0 372411 0 0 0 TURNER GILL HEAD COACH - FOOTBALL 658492 0 40000 0 0 0 23000 0 28624 0 750116 0 0 0 ROBERT WIMBERLY DEFENSE COORD/LINEBACKERS & SAFETIES 223841 0 46704 0 0 0 10609 0 22538 0 303692 0 0 0 DALE LAYER HEAD COACH - MEN'S BASKETBALL 302827 0 0 0 0 0 14851 0 22902 0 340580 0 0 0 AARON STAMN OFFENSIVE COORD/TIGHT ENDS COACH 219342 0 41018 0 0 0 9244 0 20870 0 290474 0 0 0 PART I, LINE 1A TYPE OF BENEFIT: FIRST-CLASS OR CHARTER TRAVEL LISTED PERSON WHO RECEIVED THE BENEFIT:PRESIDENT OF LIBERTY UNIVERSITY WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? FOR BUSINESS TRAVEL THE AMOUNT IS NEITHER REIMBURSED NOR IS TAXABLE; FOR PERSONAL TRAVEL, LIBERTY UNIVERSITY IS REIMBURSED SO AMOUNT IS NOT TAXABLE TYPE OF BENEFIT: TRAVEL FOR COMPANIONS LISTED PERSON WHO RECEIVED THE BENEFIT:PRESIDENT OF LIBERTY UNIVERSITY WAS THE BENEFIT TREATED AS TAXABLE TO LISTED PERSON? FOR PERSONAL TRAVEL, LIBERTY UNIVERSITY IS REIMBURSED SO AMOUNT IS NOT TAXABLE 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. THE CHANCELLOR/PRESIDENT'S TOTAL COMPENSATION WAS DETERMINED BY A COMPREHENSIVE MARKET ANALYSIS CONDUCTED BY AN EXECUTIVE COMPENSATION TEAM IN 2011-2012, BASED ON COMPARATIVE DATA OF TOP EXECUTIVES IN SIMILARLY SITUATED INSTITUTIONS. 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 20595353 2013 1 0 0 1 A 0 0 1 1 0 0.00590 0.02860 0.03450 1 0 1 A 0 1 0 0 0 0 0 0 1 A 1 404635 DEPENDENT AID AND GRANTS TO DEPENDENTS OF BOARD MEMBERS DEPENDENT AID AND GRANTS TO DEPENDENTS OF BOARD MEMBERS ALAN ASKEW SON OF BOARD MEMBER 150076 EMPLOYMENT COMPENSATION 0 WESLEY FALWELL SON OF BOARD MEMBER 24502 EMPLOYMENT COMPENSATION 0 BERNIE BECKLES WIFE OF BOARD MEMBER 23100 EMPLOYMENT COMPENSATION 0 RYAN D RUSH SON IN LAW OF BOARD MEMBER 23700 EMPLOYMENT COMPENSATION 0 JERRY FALWELL III SON OF BOARD MEMBER 66950 EMPLOYMENT COMPENSATION 0 PAUL DEMOSS BROTHER OF BOARD MEMBER 21667 CONSULTING SERVICES COMPENSATION 0 VIRGINIA DOW SISTER IN LAW OF A KEY EMPLOYEE 79463 EMPLOYMENT COMPENSATION 0 SCOTT HAWKINS SON OF AN OFFICER 143689 EMPLOYMENT COMPENSATION 0 KATHERINE JOHNSON WIFE OF AN OFFICER 40692 EMPLOYMENT COMPENSATION 0 JOHNATHAN WALLACE SON OF AN OFFICER 121794 EMPLOYMENT COMPENSATION 0 DONNA BARBER WIFE OF AN OFFICER 26913 EMPLOYMENT COMPENSATION 0 JOSHUA SPENCE SON OF AN OFFICER 42656 EMPLOYMENT COMPENSATION 0 KATHLEEN SPENCE WIFE OF AN OFFICER 39577 EMPLOYMENT COMPENSATION 0 JENNIFER KENNEDY WIFE OF AN OFFICER 45644 EMPLOYMENT COMPENSATION 0 X 2 58743 STOCK MARKET AVERAGE X GRAIN 1 11540 FAIR MARKET VALUE X LANDSCAPING MATERIALS 1 10325 FAIR MARKET VALUE X HORSES 1 3500 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. MR. JIMMY THOMAS, SR. AND MR. JIMMY THOMAS, JR. WHO SAT ON THE BOARD OF TRUSTEES AND ARE FATHER AND SON. MR. JIMMY THOMAS, SR. AND MR. GLEN THOMAS WHO SAT ON THE BOARD OF TRUSTEES AND ARE FATHER AND SON. MR. JIMMY THOMAS, JR. AND MR. GLEN THOMAS WHO SAT ON THE BOARD OF TRUSTEES AND ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 FOR FY JUNE 30, 2015 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 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. THE CHANCELLOR/PRESIDENT'S TOTAL COMPENSATION WAS DETERMINED BY A COMPREHENSIVE MARKET ANALYSIS CONDUCTED BY AN EXECUTIVE COMPENSATION TEAM IN 2011-2012, BASED ON COMPARATIVE DATA OF TOP EXECUTIVES IN SIMILARLY SITUATED INSTITUTIONS. 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 -4,482,664. 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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