2013-12-15T16:26:02-06:00 2013-05-31 621199757 LATTIMORE BLACK MORGAN & CAIN PC PO BOX 1869 BRENTWOOD TN 370241869 990 2012-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 DANNY H TAYLOR 6159661000 2013-12-11 1 JULIE BARTLETT P00742923 6153774600 2012 2016-02-25 16:41:14Z LIPSCOMB UNIVERSITY DANNY H TAYLOR ONE UNIVERSITY PARK DR NASHVILLE TN 37204 179628775 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. 32 31 2793 400 0 0 10654498 12792618 120991226 131152914 403868 2408093 524066 717847 132573658 147071472 19476541 24284303 0 0 57607333 63840429 0 0 3040850 53365047 48171697 130448921 136296429 2124737 10775043 210758202 223465775 112583710 109131180 98174492 114334595 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. 0 0 69675178 24284303 115079760 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL. 19021971 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. 12345351 16073154 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 10297649 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. 2454539 PUBLIC SERVICES:INCLUDES COMMUNITY OUTREACH ACTIVITIES, SPIRITUAL FORMATION ACTIVITIES, AND SUSTAINABILITY WHERE LIPSCOMB CAN POSITIVELY IMPACT COMMUNITIES AND THE ENVIRONMENT. 0 RESEARCH:INCLUDES POTENTIAL DISCOVERIES OF NEW OUTCOMES WITH A GOAL OF ADVANCING PROGRESS BOTH INSTITUTIONALLY AND GLOBALLY. 12752188 113794688 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 422 0 2793 1 0 0 0 0 0 1 1 0 0 0 0 X 32 31 0 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 RANDY LOWRY 40.00 X X 324469 0 135807 SALLIE DEAN 1.00 X 0 0 0 JAMES C ALLEN 1.00 X 0 0 0 BILLY LONG 1.00 X 0 0 0 J ADDISON BARRY 1.00 X 0 0 0 ROBERT A BRACKETT 1.00 X 0 0 0 BART HARPER 1.00 X 0 0 0 LORI SUTTON BRIDGES 1.00 X 0 0 0 D GERALD COGGIN SR 1.00 X 0 0 0 JERRY COVER 1.00 X 0 0 0 JOHN LITTLE 1.00 X 0 0 0 ROBBIE B DAVIS 1.00 X 0 0 0 STANLEY M EZELL 1.00 X 0 0 0 PETE T GUNN III 1.00 X 0 0 0 J GREGORY HARDEMAN 1.00 X 0 0 0 LINDA HEFLIN JOHNSTON 1.00 X 0 0 0 MARTY R KITTRELL 1.00 X 0 0 0 NEIKA B STEPHENS 1.00 X 0 0 0 JW PITTS JR 1.00 X 0 0 0 DAVID W SCOBEY JR 1.00 X 0 0 0 HARRIETTE H SHIVERS 1.00 X 0 0 0 CICELY SIMPSON 1.00 X 0 0 0 DAVID L SOLOMON 1.00 X 0 0 0 TIM S THOMAS 1.00 X 0 0 0 WILLIAM THOMAS 1.00 X 0 0 0 ROBERT E WOOD 1.00 X 0 0 0 MARK H YOKLEY 1.00 X 0 0 0 KENNETH SHUMARD 1.00 X 0 0 0 GENERAL JOHN A BRADLEY 1.00 X 0 0 0 RICHARD G COWART 1.00 X 0 0 0 WILLIAM R HUSTON 1.00 X 0 0 0 SCOTT DOUGLAS SMITH 1.00 X 0 0 0 CRAIG BLEDSOE 40.00 X 177848 0 12751 WALT LEAVER 40.00 X 106165 0 12420 DANNY TAYLOR 40.00 X 195661 0 19192 PHILIP HUTCHESON 40.00 X 150402 0 20244 PHILLIP ELLENBURG 40.00 X 102422 0 16630 SCOTT MCDOWELL 40.00 X 134336 0 18928 BENNIE HARRIS 40.00 X 48203 0 121398 MIKE HAMMOND 40.00 X 125148 0 9469 DEBY SAMUELS 40.00 X 126002 0 11175 SUSAN GALBREATH 40.00 X 110166 0 16268 JIM THOMAS 40.00 X 108596 0 8169 NANCY MAGNUSSON DURHAM 40.00 X 172070 0 11925 CANDICE MCQUEEN 40.00 X 219601 0 16253 SCOTT H SANDERSON 40.00 X 382944 0 22918 ROGER L DAVIS 40.00 X 227874 0 18724 THOMAS M CAMPBELL 40.00 X 189672 0 20335 CHARLES TURNEY STEVENS 40.00 X 166147 0 20921 3067726 0 513527 82 0 1 0 SODEXO INC AND AFFILIATES ONE UNIVERSITY PARK DR NASHVILLE TN 37204 FOOD SERVICES 4050743 DF CHASE INC 3001 ARMORY DRIVE NASHVILLE TN 37204 CONSTRUCTION SERVICES 2224514 BACON CONSTRUCTION CO 1880 GENERAL GEORGE PATTON DR SUIT FRANKLIN TN 37067 CONSTRUCTION SERVICES 1908138 KIMBRO MECHANICAL LLC 1877 AIR LN DRIVE NASHVILLE TN 37210 CONSTRUCTION SERVICES 825669 INTERIOR DESIGN SERVICES INC PO BOX 415000 NASHVILLE TN 37241 INTERIOR DESIGN SERVICES 713851 18 60298 525291 12207029 1889067 12792618 TUITION 611710 110775492 110775492 AUXILIARY REVENUE 611710 16073154 16073154 MISCELLANEOUS INCOME 611710 4183004 4183004 INCREASE - LIFE INSURA 524298 121264 121264 131152914 920733 920733 1060738 337172 723566 723566 723566 33572620 32082193 3067 1490427 -3067 1487360 1487360 129152 60298 134871 -5719 -5719 147071472 131152914 0 3125940 33469 33469 24250834 24250834 1640903 1640903 52377628 46073503 4388121 1916004 1829894 1558156 194579 77159 4425204 3676792 394337 354075 3566800 3075778 360440 130582 100659 12434 88225 95083 95083 221767 221767 841656 751987 80860 8809 7211886 4731596 2189094 291196 2093340 1514377 496564 82399 535918 513327 22591 6692200 6001610 557544 133046 498270 388721 79844 29705 3730291 3730291 6879600 5768679 1110921 5228418 4300206 928212 CONTRACT SERVICES 6268930 5135723 1094866 38341 UTILITIES 3352069 3351323 746 GENERAL EXPENSES 2352340 1627679 724661 SPECIAL EVENTS 1511151 953047 443699 114405 558119 75447 617543 -134871 136296429 113794688 19460891 3040850 1629478 3495404 4147015 5042096 1848623 1725745 229031813 89555110 133602849 139476703 10063713 9931353 57720079 61926765 1746445 1867709 210758202 223465775 30031125 27984239 1282552 1230812 67457222 65320000 1788171 1629240 771102 2745409 11253538 10221480 112583710 109131180 X 11972009 23772920 48210510 49978870 37991973 40582805 98174492 114334595 210758202 223465775 X 10775043 5385064 -4 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 55828784 2478607 7431475 1689323 1775000 62274543 60089971 1900832 -2120132 1991887 2050000 55828784 51975962 2401561 10224945 1977336 2535161 60089971 51874685 2209722 2304501 4243501 169445 51975962 78746075 2406005 -22177746 6922131 177518 51874685 0.17460 0.64680 0.17860 0 0 13114009 182100773 76605857 118608925 30781836 12949253 17832583 3035195 3035195 139476703 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 33208896 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 28564618 F INVESTMENTS - COMMODITIES 153251 F 61926765 OTHER LIABILITIES 7381480 CURRENT PORTION OF TAX EXEMPT BONDS PAYABLE 2840000 10221480 X 128429179 5385064 472043 5857107 122572072 221767 24277633 24499400 147071472 112269076 472047 472047 111797029 221767 24277633 24499400 136296429 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO PROVIDE FUNDS FOR PROFESSORSHIPS, CHAIRS AND SCHOLARSHIPS FOR STUDENTS AND GENERAL SUPPORT FOR OPERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2013 AND 2012, 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. THE UNIVERSITY FILES U.S. FEDERAL INFORMATION TAX RETURNS AND IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERAL REVENUE SERVICE FOR THE YEARS ENDED AFTER MAY 31, 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 337,172. EXPENSE INCLUDE IN EXPENSE ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 134,871. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE F/S 24,250,834. MISCELLANEOUS ADJUSTMENT BETWEEN REVENUE AND EXPENSES 26,799. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 337,172. EXPENSE INCLUDE IN EXPENSE ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 134,871. ROUNDING 4. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE F/S 24,250,834. MISCELLANEOUS ADJUSTMENT BETWEEN REVENUE AND EXPENSES 26,799. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION 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. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 GOVERNMENT GRANTS TOTALED $525,291 FOR PERIOD ENDING MAY 31, 2013. CS ART EVENT 189450 60298 129152 134871 0 189450 60298 129152 134871 134871 -5719 1 SCHOLARSHIPS 2629 24240834 0 FMV NONE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 1 1 X X X 0 0 0 0 0 0 0 0 0 RANDY LOWRY 301999 0 0 0 22470 0 17150 0 118657 0 460276 0 0 0 CRAIG BLEDSOE 157344 0 0 0 20504 0 12182 0 569 0 190599 0 0 0 DANNY TAYLOR 174025 0 0 0 21636 0 13489 0 5703 0 214853 0 0 0 PHILIP HUTCHESON 129563 0 2500 0 18339 0 10478 0 9766 0 170646 0 0 0 SCOTT MCDOWELL 120766 0 0 0 13570 0 9766 0 9162 0 153264 0 0 0 BENNIE HARRIS 35304 0 0 0 12899 0 10117 0 111281 0 169601 0 0 0 NANCY MAGNUSSON DURHAM 145948 0 0 0 26122 0 11356 0 569 0 183995 0 0 0 CANDICE MCQUEEN 211201 0 0 0 8400 0 8400 0 7853 0 235854 0 0 0 SCOTT H SANDERSON 250838 0 107582 0 24524 0 15092 0 7826 0 405862 0 0 0 ROGER L DAVIS 202940 0 0 0 24934 0 15461 0 3263 0 246598 0 0 0 THOMAS M CAMPBELL 170785 0 0 0 18887 0 13727 0 6608 0 210007 0 0 0 CHARLES TURNEY STEVENS 150208 0 0 0 15939 0 11924 0 8997 0 187068 0 0 0 A SUNTRUST BANK 580466330 2012-09-05 71000000 REFUND SERIES 2009 AND 2011 BONDS 0 0 0 A 71000000 51216 1 0 1 1 A 0 0 0 0 0.00000 0.00000 1 0 0 A 0 0 0 0 1 1 SUNTRUST ROBINSON HUMPHREY 15.000000000000 0 0 0 0 0 RHONDA LOWRY PRESIDENT'S SPOUSE 30000 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 143501 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 42664 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 15500 RENTAL REAL PROPERTYRENTAL REAL PROPERTY 0 HARRIETTE SHIVERS BOARD MEMBER 37805 RENTAL REAL PROPERTY 0 X 5737 DONOR STATEMENT OF VALUE X 16 1784503 FMV AT DATE OF SALE X STERLING SILVER FLATWARE 1 10625 APPRAISAL X ESPN SUITE-CARBONITE/XPRESSION PACKAGE 1 57410 SIMILAR PURCHASE X CHAIN LINK FENCING & GATES 1 7287 SIMILAR PURCHASE X STEEL FENCE SYSTEM & GATES 1 10505 SIMILAR PURCHASE X LOCKER ROOM FLOORING 1 13000 SIMILAR PURCHASE 0 1 0 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: ROUNDING -4.