Lipscomb University

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 8/17/2020. To update the information in this column, please email: info@ministrywatch.com


Summary

Lipscomb University is a faith-based, liberal arts institution in Nashville, Tenn., dedicated to challenging students academically, spiritually and as global community citizens.


Contact information

Mailing address:
Lipscomb University
One University Park Drive
Nashville, TN 37204

Website: lipscomb.edu

Phone: 800-333-4358

Email: admissions@lipscomb.edu


Organization details

EIN: 620485733

CEO/President: Mr. L. Randolph Lowry

Chairman: David Solomon

Board size: 26

Founder: David Lipscomb and James Harding

Year founded: 1940

Tax deductible: Yes

Fiscal year end: 05/31

Member of ECFA: No

Member of ECFA since:


Purpose

As a private, Christian liberal arts institution located in the heart of Nashville, Lipscomb University is joyfully committed to developing students whose academic excellence, faith and practice reflect our ideas of global citizenship.


Mission statement

Lipscomb University's primary mission is to integrate Christian faith and practice with academic excellence. This mission is carried out not only in the classroom and online studies, but also by involvement in numerous services to the church and the larger community.


Statement of faith

We believe in God the Father, who created the heavens and the earth, making all human beings as divine image bearers. We violated the image of God in others and ourselves, and abandoned our role in the creation. In response, God chose Israel as a blessing and light to all peoples, in order to renew the creation. We believe in God the Son, Jesus the Messiah, born of the virgin Mary. He was fully human and fully God. Baptized in water and anointed with the Spirit, he proclaimed the reign of God: preaching good news to the poor and brokenhearted, announcing forgiveness by calling all to repent and believe the good news, and commissioning his followers to make disciples, baptizing them into the communion of the Father, Son, and Spirit and teaching them to embrace this new way of life. Jesus was crucified, giving his life for the sin of the world. God raised Jesus from the dead, breaking the power of sin and evil, delivering us from death to eternal life, and inaugurating new creation. God enthroned Jesus as the Lord of creation. We believe in God the Holy Spirit, the giver and renewer of life, whom the Father, through the Son, poured out upon us, enabling us to love God and neighbor, and binding us together with all believers in the church, the Body of Christ, and together we give thanks at the table of the Lord. The Spirit spoke through the prophets and apostles, and inspired Scripture to equip us for every good work. The Spirit empowers us to witness to Christ as Lord and Savior, and to work for justice and peace as we seek to live holy and joyful lives. We believe in the resurrection of the dead, wait for God's new heaven and new earth, and pray, "Come, Lord Jesus!"

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating631 of 81792 of 100
Fund acquisition rating626 of 81788 of 100
Resource allocation rating427 of 81754 of 100
Asset utilization rating589 of 81786 of 100

Financial ratios

Funding ratiosSector median20192018201720162015
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
19%31%19%20%20%27%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%3%2%2%2%2%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
10%9%12%11%11%7%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%3%3%2%2%2%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
90%91%88%89%89%93%
 
Operating ratiosSector median20192018201720162015
Program expense ratio Program expense ratio =
Program services /
Total expenses
85%84%82%82%82%83%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%101%90%94%92%97%
Program output ratio Program output ratio =
Program services /
Total revenue
82%85%73%77%75%81%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%-1%10%6%8%3%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%-1%10%6%10%4%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%13%16%16%16%15%
 
Investing ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.420.520.540.560.61
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.885.156.636.487.396.71
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.692.143.473.494.154.11
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
5.862.641.751.491.211.29
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.170.380.570.670.830.78
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.803.481.491.130.500.65
 
Solvency ratiosSector median20192018201720162015
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%60%43%45%48%42%
Debt ratio Debt ratio =
Debt /
Total assets
17%43%32%32%34%26%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
142%95%108%102%92%95%

Financials

Balance sheet
 
Assets20192018201720162015
Cash$44,549,287$11,143,349$12,012,432$6,496,306$7,620,322
Receivables, inventories, prepaids$49,476,443$40,999,099$30,785,805$26,929,436$24,265,743
Short-term investments$428,117$959,674$7,981,129$7,961,674$7,429,173
Other current assets$0$0$0$0$0
Total current assets$94,453,847$53,102,122$50,779,366$41,387,416$39,315,238
Long-term investments$86,989,391$91,171,529$79,145,393$72,563,711$77,140,969
Fixed assets$223,336,384$205,858,586$197,015,806$165,117,784$145,431,291
Other long-term assets$81,960,391$2,162,915$2,121,437$26,803,268$1,938,379
Total long-term assets$392,286,166$299,193,030$278,282,636$264,484,763$224,510,639
Total assets$486,740,013$352,295,152$329,062,002$305,872,179$263,825,877
 
Liabilities20192018201720162015
Payables and accrued expenses$24,761,964$28,200,947$32,151,294$32,261,124$29,215,349
Other current liabilities$11,053,960$2,060,871$1,852,785$1,932,569$1,376,480
Total current liabilities$35,815,924$30,261,818$34,004,079$34,193,693$30,591,829
Debt$208,238,062$113,553,217$106,932,650$105,249,151$69,292,079
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$50,305,180$8,663,483$7,463,670$8,244,619$10,922,283
Total long-term liabilities$258,543,242$122,216,700$114,396,320$113,493,770$80,214,362
Total liabilities$294,359,166$152,478,518$148,400,399$147,687,463$110,806,191
 
Net assets20192018201720162015
Unrestricted$80,519,429$94,629,850$83,422,834$68,865,203$69,192,542
Temporarily restricted$0$50,586,126$45,880,300$40,707,174$36,855,888
Permanently restricted$111,861,418$54,600,658$51,358,469$48,612,339$46,971,256
Net assets$192,380,847$199,816,634$180,661,603$158,184,716$153,019,686
 
Revenues and expenses
 
Revenue20192018201720162015
Total contributions$17,040,509$24,827,340$20,515,885$20,382,727$12,342,127
Program service revenue$176,697,513$169,313,535$164,956,991$158,324,247$149,154,810
Membership dues$0$0$0$0$0
Investment income$3,382,725$9,720,742$1,848,867$7,828,348$4,769,271
Other revenue$2,409,972$1,422,334$1,155,891$913,808$916,741
Total other revenue$182,490,210$180,456,611$167,961,749$167,066,403$154,840,822
Total revenue$199,530,719$205,283,951$188,477,634$187,449,130$167,182,949
 
Expenses20192018201720162015
Program services$169,624,905$150,404,366$145,736,267$140,849,824$134,634,969
Management and general$27,298,285$29,408,400$27,642,579$26,824,082$23,703,093
Fundraising$5,319,687$4,699,141$4,062,375$3,985,965$3,342,771
Total expenses$202,242,877$184,511,907$177,441,221$171,659,871$161,680,833
 
Change in net assets20192018201720162015
Surplus (deficit)($2,712,158)$20,772,044$11,036,413$15,789,259$5,502,116
Other changes in net assets$0$0$0$0$0
Total change in net assets($2,712,158)$20,772,044$11,036,413$15,789,259$5,502,116

Compensation

NameTitleCompensation
Randy R Lowry IIIPresident$834,753
Roger DavisDean of College of Pharmacy$271,446
Thomas CampbellAssoc. Dean - Pharmacy$237,833
Danny H TaylorSr VP For Finance & Admin/CFO$236,553
Charles R EldridgeDean of College of Business$217,861
W Craig BledsoeProvost$212,166
Michael C GreenVice President & CIO$209,875
John R LowryVP Development & External Affairs$209,354
Stephen H HeffingtonAsst Prof/Med Dir Pa Prog$207,106
John ThompsonProfessor$202,816
Philip N HutchesonAssistant Vice President$199,553
Greg J GlennHead of School$194,094
David G WilsonUniversity Attorney$191,142
Susan C GalbreathSr VP For Strategy/Professor$188,179
Matt PadenChief of Staff$170,067
Phillip W EllenburgVP of Alumni Relations$160,503
Christy HooperVP of Human Resources$157,754
William TurnerDistinguished Professor$149,936
Scott SagerVP of Church Services$142,411
Walt C Leaver IIIVice President$138,631
Byron LewisVP of Enrollment Management$135,077
Michael WinegeartAssistant Professor$134,049
Dave BrunoVP of Marketing$132,667

Compensation data as of: 5/31/2019


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 8/17/2020. To update the information below, please email: info@ministrywatch.com


History

The making of Lipscomb University started out as an idea, a dream planted by God in the hearts of its founders, David Lipscomb and his friend, James A. Harding. These college-educated ministers believed in the value of an education infused with faith. As they watched the rapid development of schools and colleges in Nashville, often called the "Athens of the South," they envisioned a school that was different-one that would instill practical knowledge through a Christian lens. In the summer and fall of 1889, the two friends spent many long nights at Lipscomb's farmhouse, developing their vision to establish a school that offered a rigorous and challenging academic education in a Christian context. They did not want it to be a "preacher" school, nor a seminary. Instead, they wanted it to be a place where the most useful academics would be taught alongside Bible study and opportunities for personal interactions with Scripture, rooted in the Church of Christ. This, they believed, was a complete education that would rear graduates who were prepared with wisdom and knowledge to serve their community and the world. On Oct. 5, 1891, they opened the doors to Nashville Bible School-a bold act of faith by Lipscomb and Harding, who knew their unique approach to education was going against the grain. Even still, Harding declared, "We aspire to stand in the front ranks of the great educational institutions of the world." In time, the school's focus on faith-based education would directly influence the founding of almost half a dozen other colleges and universities with the same intent. From that first year which saw only nine students, the school grew quickly. In 1896, it had developed intermediate and primary divisions that together made up Lipscomb Campus Schools, which would later be named Lipscomb Academy. When the student population became too large to fit in the school's downtown building, Lipscomb and his wife, Margaret, offered their 110-acre farm-where they lived-along Granny White Pike only four miles from the center of town. There, the school found its permanent home in 1903. Two of the school's first four buildings are still in use today: Harding Hall, the primary building used for Lipscomb Academy, and Avalon Hall, now used for alumni and lifelong learning programs. In 1918, one year after the passing of its founder, the school was renamed David Lipscomb College in his memory. The following decades were rife with blessings for the institution, but they also saw some harsh challenges. In 1929 and 1930, the school experienced devastating fires to its dormitories. Rebuilding from the tragedies almost sank the institution in debt during the Great Depression, but by the grace of God and through the faith and resiliency of the faculty and students, the school stood firm and celebrated its 50th anniversary in 1941. In the years following, the school experienced tremendous growth. The Lipscomb Expansion Program, launched by the board as a response to returning G.I.s following World War II, took place through the second presidency of Baxell Baxter and the presidencies of Athens Clay Pullias and Willard Collins. The Pullias administration changed the school dramatically, increasing enrollment 875 percent from 221 in 1943, to 2,154 in 1976. Over the same period, the number of buildings on campus grew from five to 31. An organizational structure for the intermediate school was also established and the first director of Lipscomb Campus Schools was appointed. Ending the Collins presidency with a bang was the execution of the Million Dollar Day, a dream Collins had of raising a million dollars in a single day. Then in 1988, during the presidency of Harold Hazelip, the college was renamed Lipscomb University following its accreditation to award master's degrees for the first time in its history. Building on Hazelip's foundation, our 16th president Steve Flatt oversaw degree expansions, the reorganization of academic departments into colleges within the university and a move from NAIA to NCAA Division I athletics. L. Randolph Lowry, Lipscomb University's current president, was inaugurated in 2005. Under his leadership, six colleges have been established, one being Middle Tennessee's first College of Pharmacy, and seven institutes, designed to not only offer academic degrees but to also serve the community through their programs and services. Lowry also oversaw the launch of the university's first-ever doctoral program, and the renaming of Lipscomb Campus Schools to Lipscomb Academy. In the past decade, the academy has gained its current head of school Greg Glenn, the McAdams Athletic Center and $10 million in gifts for the restructuring of its lower and upper campuses. Lowry has successfully led the university to raise nearly $200 million through two fundraising campaigns that have greatly advanced Lipscomb's academic programs and funded construction of numerous facilities such as the Nursing and Health Sciences Center, the Pharmaceutical Sciences Research Center, the Fields Engineering Center and Bison Hall, as well as renovations and improvements of every building on campus. The founders' vision and dream, and their hard work to make that dream a reality, have bore fruit for generations. Lipscomb University has developed into a fast-growing Christian liberal arts institution that started with just nine students in 1891 and now serves more than 4,700 students today. And Lipscomb Academy, which serves children in preschool through the 12th grade, is now the largest private school of its kind in Middle Tennessee and one of only a few in the nation associated with a university. The vision and heart of David Lipscomb continues to be honored and lived out through the university. Lipscomb was beloved by the city of Nashville, evident at his funeral which saw an outpouring of community members, because of his service to the city. Like the man himself, the institution strongly values service to its community and the world as an act of faith. It's a place known for developing courageous and confident leaders equipped with practical knowledge and rooted in their spiritual growth, who take on some of the most complex and difficult problems with their innovation and willingness to step out from the crowd. Because of the commitment of its founder and every past president thereafter to boldly follow the plans God placed on their hearts, Lipscomb University plays a vital role today in countless lives, communities and countries around the world. Faith is not only our foundation-it's our purpose and our future.


Program accomplishments


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