2012-11-20T15:23:20-06:00 2012-05-31 621199757 LATTIMORE BLACK MORGAN & CAIN PC PO BOX 1869 BRENTWOOD TN 370241869 990 2011-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 DANNY H TAYLOR 6159661000 2012-11-20 1 JULIE BARTLETT P00742923 6153774600 2011 2016-02-24 21:20:13Z LIPSCOMB UNIVERSITY DANNY H TAYLOR ONE UNIVERSITY PARK DR NASHVILLE TN 37204 166113630 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. 33 32 2562 400 0 0 7485559 10654498 106759275 120991226 724481 403868 366806 524066 115336121 132573658 18135203 19476541 0 0 50493460 57607333 0 0 2801761 43367333 53365047 111995996 130448921 3340125 2124737 206569677 210758202 107139807 112583710 99429870 98174492 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 65731083 19433781 106104415 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL. 17343628 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. 12063970 14886811 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 10365915 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. 2321281 PUBLIC SERVICES:INCLUDES COMMUNITY OUTREACH ACTIVITIES, SPIRITUAL FORMATION ACTIVITIES, AND SUSTAINABILITY WHERE LIPSCOMB CAN POSITIVELY IMPACT COMMUNITIES AND THE ENVIRONMENT. 564 RESEARCH:INCLUDES POTENTIAL DISCOVERIES OF NEW OUTCOMES WITH A GOAL OF ADVANCING PROGRESS BOTH INSTITUTIONALLY AND GLOBALLY. 12687760 107826441 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 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 1 0 0 0 0 0 0 0 0 1 21 0 2562 1 0 0 0 0 0 1 1 0 0 0 0 X 33 32 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 345274 0 135868 HILTON 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 LEWIS M CARTER JR 1.00 X 0 0 0 D GERALD COGGIN SR 1.00 X 0 0 0 JERRY COVER 1.00 X 0 0 0 BRYAN A CRISMAN 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 SANDRA W PERRY 1.00 X 0 0 0 JW PITTS JR 1.00 X 0 0 0 DAVID W RALSTON 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 172480 0 12285 WALT LEAVER 40.00 X 101078 0 11674 DANNY TAYLOR 40.00 X 180861 0 18384 PHILIP HUTCHESON 40.00 X 149822 0 18528 PHILLIP ELLENBURG 40.00 X 98913 0 16626 SCOTT MCDOWELL 40.00 X 129403 0 18765 BENNIE HARRIS 40.00 X 153180 0 13349 MIKE HAMMOND 40.00 X 125763 0 9237 DEBY SAMUELS 40.00 X 122245 0 10849 SUSAN GALBREATH 40.00 X 107968 0 18352 JIM THOMAS 40.00 X 125774 0 7770 NANCY MAGNUSSON DURHAM 40.00 X 163589 0 11619 CHARLA LONG 40.00 X 146521 0 17526 SCOTT H SANDERSON 40.00 X 407982 0 21814 ROGER L DAVIS 40.00 X 222302 0 18877 THOMAS M CAMPBELL 40.00 X 186165 0 19761 CHARLES TURNEY STEVENS 40.00 X 160534 0 20602 3099854 0 401886 17 0 1 0 SODEXO INC AND AFFILIATES ONE UNIVERSITY PARK DR NASHVILLE TN 37204 FOOD SERVICES 4387698 DF CHASE INC 3001 ARMORY DRIVE NASHVILLE TN 37204 CONSTRUCTION SERVICES 2774958 BACON CONSTRUCTION CO 1880 GENERAL GEORGE PATTON DR SUIT FRANKLIN TN 37067 CONSTRUCTION SERVICES 2677385 TUCK-HINTON ARCHITECTS PLC 410 ELM STREET NASHVILLE TN 37203 ARCHITECTURAL SERVICES 414392 DON KENNEDY ROOFING CO INC 2201 DUNN AVENUE NASHVILLE TN 37211 CONSTRUCTION SERVICES 362210 19 62109 213661 10378728 970051 10654498 TUITION 611710 101974205 101974205 AUXILIARY REVENUE 611710 14886811 14886811 MISCELLANEOUS INCOME 611710 3986371 3986371 INCREASE - LIFE INSURA 524298 143839 143839 120991226 785556 785556 886050 360081 525969 525969 525969 32684046 33065734 -381688 -381688 -381688 112254 62109 114157 -1903 -1903 132573658 120991226 0 927934 65979 65979 19410562 19410562 1729164 1729164 46782458 40983638 4167081 1631739 2033023 1402908 566111 64004 3906331 3218156 400987 287188 3156357 2696628 347798 111931 36251 36251 88085 88085 178974 178974 969505 829280 136456 3769 7408470 4976104 2109767 322599 62101 62101 344111 344111 6042924 5266237 667324 109363 598730 520689 70382 7659 3868455 3868455 6121344 5094672 1026672 4662913 3780145 882768 CONTRACT SERVICES 4567859 3610425 787867 169567 LOSS ON INTEREST RATE S 4225868 4225868 GENERAL EXPENSES 3958178 2846889 1111289 UTILITIES 3103423 3100114 3309 7127856 5454036 1641979 31841 130448921 107826441 19820719 2801761 4655194 1629478 3630593 4147015 1586408 1848623 218324308 84721459 126078934 133602849 11008698 10063713 58007243 57720079 1602607 1746445 206569677 210758202 24674727 30031125 2785414 1282552 67120000 67457222 1947102 1788171 771102 10612564 11253538 107139807 112583710 X 16687402 11972009 46004078 48210510 36738390 37991973 99429870 98174492 206569677 210758202 X 2124737 -3380115 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23150 X X X 0 60089971 1900832 -2120132 1991887 2050000 55828784 51975962 2401561 10224945 1977336 2535161 60089971 51874685 2209722 2304501 4243501 169445 51975962 78746075 2406005 -22177746 6922131 177518 51874685 0.13450 0.68050 0.18500 0 0 12062217 170044529 71987231 110119515 30080225 12734228 17345997 6137337 6137337 133602849 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 25988297 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 31547816 F INVESTMENTS - COMMODITIES 183966 F 57720079 OTHER LIABILITIES 7701871 CURRENT PORTION OF TAX EXEMPT BONDS PAYABLE 3551667 11253538 132573658 130448921 2124737 -3380113 -2 -3380115 -1255378 110078240 -3380113 474238 -2905875 112984115 178974 19410569 19589543 132573658 111333618 474238 474238 110859380 178974 19410567 19589541 130448921 PART III, LINE 4: SCREENPRINT OF BIG BEN BY ARTIST STEVE KAUFMAN. LITHOGRAPH OF AS I OPENED FIE P#3 BY ARTIST ROY LICHTENSTEIN. LITHOGRAPH OF UNTITLED #3 (MAGIE EOLIENNE) BY ARTIST ALEXANDER CALDER. LITHOGRAPH LIBRA (SIGNS OF THE ZODIAC, PLATE H) BY ARTIST SALVADOR DALI. THESE WORKS OF ART WILL PROVIDE UNIQUE EXPERIENTIAL LEARNING OPPORTUNITIES FOR LIPSCOMB'S STUDENTS AND GUESTS. 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. PART XI, LINE 8 - OTHER ADJUSTMENTS: ROUNDING -2. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 360,081. EXPENSE INCLUDE IN EXPENSE ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 114,157. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE F/S 19,410,562. ROUNDING 7. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 360,081. EXPENSE INCLUDE IN EXPENSE ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 114,157. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE F/S 19,410,562. ROUNDING 5. 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 $213,661 FOR PERIOD ENDING MAY 31, 2012. CS ART EVENT 174363 62109 112254 114157 0 174363 62109 112254 114157 114157 -1903 1 X SCHOLARSHIPS 2547 19410562 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 322781 0 0 0 22493 0 17150 0 118718 0 481142 0 0 0 CRAIG BLEDSOE 152738 0 0 0 19742 0 11857 0 428 0 184765 0 0 0 DANNY TAYLOR 160522 0 0 0 20339 0 12487 0 5897 0 199245 0 0 0 PHILIP HUTCHESON 128585 0 5000 0 16237 0 10290 0 8238 0 168350 0 0 0 BENNIE HARRIS 140186 0 0 0 12994 0 10126 0 3223 0 166529 0 0 0 NANCY MAGNUSSON DURHAM 135572 0 0 0 28017 0 11053 0 566 0 175208 0 0 0 CHARLA LONG 137769 0 0 0 8752 0 8752 0 8774 0 164047 0 0 0 SCOTT H SANDERSON 337750 0 50000 0 20232 0 14374 0 7440 0 429796 0 0 0 ROGER L DAVIS 197732 0 0 0 24570 0 15081 0 3796 0 241179 0 0 0 THOMAS M CAMPBELL 167541 0 0 0 18624 0 13464 0 6297 0 205926 0 0 0 CHARLES TURNEY STEVENS 145978 0 0 0 14556 0 11605 0 8997 0 181136 0 0 0 THE HEALTH & EDUCATIONAL FACILITIES BOARD OF THE METRO GOV OF NASHVILLE 580466330 592041SH1 2009-08-12 74560000 REFUND SERIES 2003, 2003B, 2006 AND 2008 BONDS 0 0 0 SUNTRUST BANK 580466330 2011-06-28 4000000 FANNING HALL RENOVATION 0 0 0 74560000 900000 1 0 1 1 4000000 75068 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 SUNTRUST ROBINSON HUMPHREY 20.000000000000 0 0 0 0 0 0 0 0 0 0 0 RHONDA LOWRY PRESIDENT'S SPOUSE 30000 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 135887 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 31375 UNIVERSITY EMPLOYEE 0 BRENT CULBERSON VICE PRESIDENT'S SON-IN-LAW 43691 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 15500 RENTAL REAL PROPERTYRENTAL REAL PROPERTY 0 HARRIETTE SHIVERS BOARD MEMBER 30890 RENTAL REAL PROPERTY 0 X 1 23150 ART GALLERY APPRAISAL X 1 500 FMV OF SIMILAR EQUIPMENT X 6 931901 FMV AT DATE OF SALE X GOLF CART 1 4500 FMV AT DATE OF GIFT 0 0 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 5: NET UNREALIZED LOSSES ON INVESTMENTS: -3,380,113. ROUNDING -2. TOTAL TO FORM 990, PART XI, LINE 5: -3,380,115.