Liberty University

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 11/5/2020. To update the information in this column, please email: info@ministrywatch.com


Summary

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.


Contact information

Mailing address:
Liberty University
1971 University Blvd
Lynchburg, VA 24515

Website: https://www.liberty.edu/

Phone: 434-582-2000

Email: visitorscenter@liberty.edu


Organization details

EIN: 540946734

CEO/President: Dr. Jerry Prevo

Chairman: Dr. Allen McFarland

Board size: 32

Founder: Jerry Falwell

Year founded: 1974

Tax deductible: Yes

Fiscal year end:

Member of ECFA: No

Member of ECFA since:


Purpose

Liberty trains Champions for Christ with the values, knowledge, and skills essential for impacting tomorrow's world. Liberty University is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award associate, bachelor's, master's, specialist, and doctoral degrees.


Mission statement

Liberty University develops Christ-centered men and women with the values, knowledge, and skills essential for impacting the world. Here we Train Champions for Christ.


Statement of faith

We affirm our belief in one God, infinite Spirit, creator, and sustainer of all things, who exists eternally in three persons, God the Father, God the Son, and God the Holy Spirit. These three are one in essence but distinct in person and function. We affirm that the Father is the first person of the Trinity and the source of all that God is and does. From Him the Son is eternally generated and from Them the Spirit eternally proceeds. He is the designer of creation, the speaker of revelation, the author of redemption, and the sovereign of history. We affirm that the Lord Jesus Christ is the second person of the Trinity, eternally begotten from the Father. He is God. He was conceived by the virgin Mary through a miracle of the Holy Spirit. He lives forever as perfect God and perfect man: two distinct natures inseparably united in one person. We affirm that the Holy Spirit is the third person of the Trinity, proceeding from the Father and the Son and equal in deity. He is the giver of all life, active in the creating and ordering of the universe; He is the agent of inspiration and the new birth; He restrains sin and Satan; and He indwells and sanctifies all believers. We affirm that all things were created by God. Angels were created as ministering agents, though some, under the leadership of Satan, fell from their sinless state to become agents of evil. The universe was created in six historical days and is continuously sustained by God; thus it both reflects His glory and reveals His truth. Human beings were directly created, not evolved, in the very image of God. As reasoning moral agents, they are responsible under God for understanding and governing themselves and the world. We affirm that the Bible, both Old and New Testaments, though written by men, was supernaturally inspired by God so that all its words are the written true revelation of God; it is therefore inerrant in the originals and authoritative in all matters. It is to be understood by all through the illumination of the Holy Spirit, its meaning determined by the historical, grammatical, and literary use of the author's language, comparing Scripture with Scripture. We affirm that Adam, the first man, willfully disobeyed God, bringing sin and death into the world. As a result, all persons are sinners from conception, which is evidenced in their willful acts of sin; and they are therefore subject to eternal punishment, under the just condemnation of a holy God. We affirm that Jesus Christ offered Himself as a sacrifice by the appointment of the Father. He fulfilled the demands of God by His obedient life, died on the cross in full substitution and payment for the sins of all, was buried, and on the third day He arose physically and bodily from the dead. He ascended into heaven where He now intercedes for all believers. We affirm that each person can be saved only through the work of Jesus Christ, through repentance of sin and by faith alone in Him as Savior. The believer is declared righteous, born again by the Holy Spirit, turned from sin, and assured of heaven. We affirm that the Holy Spirit indwells all who are born again, conforming them to the likeness of Jesus Christ. This is a process completed only in Heaven. Every believer is responsible to live in obedience to the Word of God in separation from sin. We affirm that a church is a local assembly of baptized believers, under the discipline of the Word of God and the lordship of Christ, organized to carry out the commission to evangelize, to teach, and to administer the ordinances of believer's baptism and the Lord's table. Its offices are pastors and deacons, and it is self-governing. It functions through the ministry of gifts given by the Holy Spirit to each believer. We affirm that the return of Christ for all believers is imminent. It will be followed by seven years of great tribulation, and then the coming of Christ to establish His earthly kingdom for a thousand years. The unsaved will then be raised and judged according to their works and separated forever from God in hell. The saved, having been raised, will live forever in heaven in fellowship with God.

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating405 of 81770 of 100
Fund acquisition rating331 of 81740 of 100
Resource allocation rating334 of 81745 of 100
Asset utilization rating561 of 81781 of 100

Financial ratios

Funding ratiosSector median20192018201720162015
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
19%10%16%32%21%50%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%0%0%0%0%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
10%2%2%1%2%1%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%0%1%1%1%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
90%98%98%99%98%99%
 
Operating ratiosSector median20192018201720162015
Program expense ratio Program expense ratio =
Program services /
Total expenses
85%87%87%87%87%87%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%78%78%79%80%78%
Program output ratio Program output ratio =
Program services /
Total revenue
82%67%68%68%69%68%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%22%22%21%20%22%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%11%11%11%12%14%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%13%13%13%13%12%
 
Investing ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.320.320.340.370.38
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.882.773.853.782.802.81
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.690.891.241.291.041.05
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
5.865.753.702.993.973.67
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.170.170.270.330.250.27
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.8011.197.066.208.618.28
 
Solvency ratiosSector median20192018201720162015
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%14%15%18%20%22%
Debt ratio Debt ratio =
Debt /
Total assets
17%6%7%8%9%10%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
142%269%263%240%215%209%

Financials

Balance sheet
 
Assets20192018201720162015
Cash$263,487,727$283,091,994$174,705,205$464,008,929$308,631,373
Receivables, inventories, prepaids$81,729,521$55,731,753$115,989,911$87,435,984$91,688,669
Short-term investments$784,840,644$392,123,074$389,387,764$258,794,081$338,465,045
Other current assets$0$0$0$0$0
Total current assets$1,130,057,892$730,946,821$680,082,880$810,238,994$738,785,087
Long-term investments$663,873,966$798,677,070$735,828,946$499,216,216$491,922,016
Fixed assets$1,308,955,036$1,258,649,379$1,150,465,204$947,064,035$829,285,348
Other long-term assets$24,494,530$24,665,636$5,182,657$8,645,813$12,995,547
Total long-term assets$1,997,323,532$2,081,992,085$1,891,476,807$1,454,926,064$1,334,202,911
Total assets$3,127,381,424$2,812,938,906$2,571,559,687$2,265,165,058$2,072,987,998
 
Liabilities20192018201720162015
Payables and accrued expenses$68,688,052$71,082,091$70,103,244$52,816,330$63,018,578
Other current liabilities$127,695,672$126,407,226$156,970,249$151,337,067$138,534,316
Total current liabilities$196,383,724$197,489,317$227,073,493$204,153,397$201,552,894
Debt$202,536,441$205,052,835$207,769,474$209,950,530$214,295,846
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$31,760,591$29,905,036$32,706,878$36,318,474$30,909,096
Total long-term liabilities$234,297,032$234,957,871$240,476,352$246,269,004$245,204,942
Total liabilities$430,680,756$432,447,188$467,549,845$450,422,401$446,757,836
 
Net assets20192018201720162015
Unrestricted$2,672,903,339$2,359,931,414$2,087,057,966$1,798,655,900$1,609,667,135
Temporarily restricted$7,949,333$4,794,568$3,338,088$2,585,845$4,222,638
Permanently restricted$15,847,996$15,765,736$13,613,788$13,500,912$12,340,389
Net assets$2,696,700,668$2,380,491,718$2,104,009,842$1,814,742,657$1,626,230,162
 
Revenues and expenses
 
Revenue20192018201720162015
Total contributions$24,340,904$28,909,244$13,964,116$20,246,077$11,445,389
Program service revenue$1,229,034,114$1,082,668,020$1,037,526,114$1,013,111,816$963,220,931
Membership dues$0$0$0$0$0
Investment income$22,156,313$33,001,962$50,245,699($6,154,121)$23,556,873
Other revenue$14,063,754$14,735,745$9,574,570$32,901,348$3,605,357
Total other revenue$1,265,254,181$1,130,405,727$1,097,346,383$1,039,859,043$990,383,161
Total revenue$1,289,595,085$1,159,314,971$1,111,310,499$1,060,105,120$1,001,828,550
 
Expenses20192018201720162015
Program services$868,723,138$785,776,571$760,115,740$732,497,764$680,582,908
Management and general$129,919,330$116,107,683$112,679,894$107,782,813$92,155,299
Fundraising$2,473,311$4,635,951$4,486,779$4,305,531$5,759,705
Total expenses$1,001,115,779$906,520,205$877,282,413$844,586,108$778,497,912
 
Change in net assets20192018201720162015
Surplus (deficit)$288,479,306$252,794,766$234,028,086$215,519,012$223,330,638
Other changes in net assets$0$0$0$0$0
Total change in net assets$288,479,306$252,794,766$234,028,086$215,519,012$223,330,638

Compensation

NameTitleCompensation
Mr Jerry FalwellChancellor/President$1,159,011
Mr Turner GillHead Coach-Football$810,734
Mr Ritchie McKayHead Coach-Men's Basketball$655,269
Mr Ian McCawDirector of Athletics$543,018
Dr Peter BellDean, LU College of Osteopathi$488,824
Mr Ronald KennedyEVP of Enrollment & Marketing$432,662
Mr David NasserSR VP of Spiritual Development$407,933
Ms Laura WallaceEVP for Human Resources$372,119
Dr Robert RitzEVP Finance$353,673
Dr Scott HicksProvost and Chief Academic Off$353,607
Mr Randall SmithEVP & COO$350,067
Mr Carey GreenHead Coach-Women's Basketball$348,282
Mr Brian FaulknerDean, School of Law$291,893
Dr Ronald HawkinsFormer Officer$289,815
Mr John GaugerCIO$289,726
Mr Don MoonSR VP of Investment Management$288,041
Mr David CorryGeneral Counsel/Secretary$282,573
Mr Charles SpenceSR VP of Facilities Management$272,449
Mr Chris JohnsonEVP for Resident Enrollment$258,510
Dr Ben GutierrezFormer Key Employee$240,210
Mr Trey FalwellVP of University Operations$234,310
Mr Dan ApplewhiteDeputy General Counsel/Assista$223,718
Dr Lawrence HineSenior VP of Student Affairs$212,982
Dr Shawn AkersOnline Provost$201,112
Mr Christian KennedyFormer Officer$145,641
Pastor Jonathan FalwellTrustee/Vice Chancellor of Spi$50,000
Mr Duke WestoverTrustee$33,376
Dr John Borek JrTrustee & Adjunct Professor$17,800
Mr Jason SuittTrustee & Adjunct Professor$3,990
Dr Allen McFarlandTrustee & Adjunct Professor$2,800

Compensation data as of: 6/30/2019


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 11/5/2020. To update the information below, please email: info@ministrywatch.com


History

Standing on the shoulders of more than two millennia of Christian scholarship, Liberty University emphasizes the pursuit of knowledge in every discipline. A world-class liberal arts university with 15 schools and colleges, Liberty offers more than 750 programs from the certificate to the doctoral level ranging from medicine, biology, chemistry, and engineering to design, music, religion, law, and more. Founded in 1971 in Lynchburg, Va., Liberty has grown from a small college of 154 students into a university with a residential student body of over 15,000. Preparing students to be doctors, educators, ministers, lawyers, aviators, counselors, engineers, and more, Liberty is committed to developing tomorrow's leaders - men and women of character whose impact will extend beyond their professions to change the world around them. Through those founding years, students and faculty were inspired to influence the moral and ethical course of America. Subsequently, the school's name officially changed to Liberty Baptist College in 1976 and the colors were changed to red, white, and blue. The college achieved full accreditation with the Southern Association of Colleges and Schools Commission on Colleges in 1980. By 1985, the school had become recognized as a fully accredited university, adding programs and garnering recognition from both mainstream culture and the world of academia. Liberty also pioneered a distance learning program that year, launching what is now known as Liberty University Online. With the passing of the founder in 2007, his son, Jerry Falwell Jr., became chancellor and president of the university. At the 2007 Commencement ceremony, just days after his father's passing, the now President Falwell proclaimed, "We have prepared for this transition for 15 years or more. All is well at Liberty." Liberty's journey has been one of facing giants, making the impossible possible, watching fervent prayer move mountains, and Training Champions for Christ.


Program accomplishments


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