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 rating481 of 91368 of 111
Fund acquisition rating409 of 91548 of 111
Resource allocation rating313 of 91529 of 111
Asset utilization rating689 of 91396 of 111

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
15%13%10%16%32%21%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%0%0%0%0%0%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%1%2%2%1%2%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%0%0%1%1%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%99%98%98%99%98%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%89%87%87%87%87%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%81%78%78%79%80%
Program output ratio Program output ratio =
Program services /
Total revenue
81%72%67%68%68%69%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%19%22%22%21%20%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%9%11%11%11%12%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%11%13%13%13%13%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.510.320.320.320.340.37
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.733.352.773.853.782.80
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.621.090.891.241.291.04
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.084.375.753.702.993.97
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.230.170.270.330.25
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.958.5211.197.066.208.61
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%14%14%15%18%20%
Debt ratio Debt ratio =
Debt /
Total assets
16%6%6%7%8%9%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
139%266%269%263%240%215%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$330,655,881$263,487,727$283,091,994$174,705,205$464,008,929
Receivables, inventories, prepaids$48,758,903$81,729,521$55,731,753$115,989,911$87,435,984
Short-term investments$627,288,983$784,840,644$392,123,074$389,387,764$258,794,081
Other current assets$0$0$0$0$0
Total current assets$1,006,703,767$1,130,057,892$730,946,821$680,082,880$810,238,994
Long-term investments$918,446,198$663,873,966$798,677,070$735,828,946$499,216,216
Fixed assets$1,419,694,279$1,308,955,036$1,258,649,379$1,150,465,204$947,064,035
Other long-term assets$22,650,108$24,494,530$24,665,636$5,182,657$8,645,813
Total long-term assets$2,360,790,585$1,997,323,532$2,081,992,085$1,891,476,807$1,454,926,064
Total assets$3,367,494,352$3,127,381,424$2,812,938,906$2,571,559,687$2,265,165,058
 
Liabilities20202019201820172016
Payables and accrued expenses$88,680,388$68,688,052$71,082,091$70,103,244$52,816,330
Other current liabilities$141,750,772$127,695,672$126,407,226$156,970,249$151,337,067
Total current liabilities$230,431,160$196,383,724$197,489,317$227,073,493$204,153,397
Debt$197,589,939$202,536,441$205,052,835$207,769,474$209,950,530
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$29,753,358$31,760,591$29,905,036$32,706,878$36,318,474
Total long-term liabilities$227,343,297$234,297,032$234,957,871$240,476,352$246,269,004
Total liabilities$457,774,457$430,680,756$432,447,188$467,549,845$450,422,401
 
Net assets20202019201820172016
Without donor restrictions$2,886,771,669$2,672,903,339$2,359,931,414$2,087,057,966$1,798,655,900
With donor restrictions$22,948,226$23,797,329$20,560,304$16,951,876$16,086,757
Net assets$2,909,719,895$2,696,700,668$2,380,491,718$2,104,009,842$1,814,742,657
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$16,444,061$24,340,904$28,909,244$13,964,116$20,246,077
Program service revenue$1,309,847,537$1,229,034,114$1,082,668,020$1,037,526,114$1,013,111,816
Membership dues$0$0$0$0$0
Investment income$13,759,215$22,156,313$33,001,962$50,245,699($6,154,121)
Other revenue$3,606,577$14,063,754$14,735,745$9,574,570$32,901,348
Total other revenue$1,327,213,329$1,265,254,181$1,130,405,727$1,097,346,383$1,039,859,043
Total revenue$1,343,657,390$1,289,595,085$1,159,314,971$1,111,310,499$1,060,105,120
 
Expenses20202019201820172016
Program services$969,960,646$868,723,138$785,776,571$760,115,740$732,497,764
Management and general$121,720,343$129,919,330$116,107,683$112,679,894$107,782,813
Fundraising$2,060,809$2,473,311$4,635,951$4,486,779$4,305,531
Total expenses$1,093,741,798$1,001,115,779$906,520,205$877,282,413$844,586,108
 
Change in net assets20202019201820172016
Surplus (deficit)$249,915,592$288,479,306$252,794,766$234,028,086$215,519,012
Other changes in net assets$0$0$0$0$0
Total change in net assets$249,915,592$288,479,306$252,794,766$234,028,086$215,519,012

Compensation

NameTitleCompensation
Mr Jerry FalwellChancellor/President$2,202,231
Mr Hugh FreezeHead Coach-Football$1,138,306
Mr Ritchie McKayHead Coach-Men's Basketball$1,121,422
Mr Ian McCawDirector of Athletics$684,209
Mr Ronald KennedyEVP of Enrollment & Marketing$578,805
Mr Turner GillFormer Highly Compensated$573,682
Dr Peter BellDean, LU College of Osteopathi$474,539
Mr David NasserSR VP of Spiritual Development$422,737
Mr John GaugerChief Information Officer$369,792
Dr Robert RitzCFO/Treasurer$365,474
Mr Scott SymonsLinebacker Coach$362,783
Mr Richard AustinTightend Coach$353,862
Mr Randall SmithEVP & COO/Management Consultan$338,912
Ms Laura WallaceEVP for Human Resources$324,267
Mr David CorryGeneral Counsel/Secretary$320,913
Mr Don MoonSR VP of Investment Management$275,642
Dr Scott HicksProvost and Chief Academic Off$261,338
Mr Charles SpenceSR VP of Facilities Management$255,219
Dr Ronald HawkinsFormer Officer$232,000
Dr Shawn AkersOnline Provost$230,891
Mr Dan ApplewhiteDeputy General Counsel/Assista$226,773
Mr Trey FalwellVP of University Operations$216,433
Dr Lawrence HineSenior VP of Student Affairs$203,235
Mr Christian KennedyFormer Officer$201,700
Mr Chris JohnsonFormer Key Employee$127,586
Pastor Jonathan FalwellTrustee/Vice Chancellor of Spi$54,209
Mr Anthony BecklesTrustee/Online chair$29,066
Dr John Borek JrTrustee & Adjunct Professor$16,400
Dr Allen McFarlandTrustee & Adjunct Professor$5,300

Compensation data as of: 6/30/2020


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


Needs