LIBERTY UNIVERSITY INC

EIN: 540946734 501(c)(3) Education

LYNCHBURG, VA

Total Revenue
$1,802,305,808
Total Expenses
$1,456,869,886
Total Assets
$4,612,068,688
Net Assets
$4,303,348,302
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
VA
Principal Officer
DR ROBERT RITZ
Phone
4345924800
Tax Period
2023-07-01 to 2024-06-30

LIBERTY UNIVERSITY INC, founded in 1972, is a large national nonprofit in the Education sector that reported $1.8B in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $345.4M, a strong 19% operating margin.

Mission

LIBERTY UNIVERSITY, INC. IS A DISTINCTIVELY CHRISTIAN ACADEMIC COMMUNITY, WITH A MISSION OF PROVIDING QUALITY COLLEGIATE EDUCATION TRAINING CHAMPIONS FOR CHRIST.

Program Service Accomplishments

Program 1
Expenses: $993,199,215 Revenue: $1,425,907,940

INSTRUCTION OF APPROXIMATELY 140,000 STUDENTS IN UNDERGRADUATE, GRADUATE, AND DOCTORAL PROGRAMS FOR BOTH THE ONLINE AND RESIDENTIAL PROGRAMS. SCHOLARSHIPS, GRANTS AND OTHER FINANCIAL ASSISTANCE ARE...

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INSTRUCTION OF APPROXIMATELY 140,000 STUDENTS IN UNDERGRADUATE, GRADUATE, AND DOCTORAL PROGRAMS FOR BOTH THE ONLINE AND RESIDENTIAL PROGRAMS. SCHOLARSHIPS, GRANTS AND OTHER FINANCIAL ASSISTANCE ARE AWARDED TO ELIGIBLE STUDENTS BASED ON PROGRAM CRITERIA, WHICH INCLUDED SCHOLASTIC MERIT, ATHLETIC EXCELLENCE, ARTISTIC PERFORMANCE, FINANCIAL NEED, HIGH SCHOOL ATTENDED AND FIELD WORKED.

Program 2
Expenses: $238,543,299 Revenue: $147,419,263

LIBERTY UNIVERSITY MAINTAINS A CAMPUS BOOKSTORE, HOUSING AND DINING FACILITIES, TRANSPORTATION SERVICES, ATHLETIC FACILITIES, BROADCASTING FACILITIES AND OTHER SUPPORT SERVICES AND FACILITIES ADDING...

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LIBERTY UNIVERSITY MAINTAINS A CAMPUS BOOKSTORE, HOUSING AND DINING FACILITIES, TRANSPORTATION SERVICES, ATHLETIC FACILITIES, BROADCASTING FACILITIES AND OTHER SUPPORT SERVICES AND FACILITIES ADDING TO THE STUDENT EXPERIENCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $28,047,029
Program Service Revenue $1,572,295,151
Investment Income $158,502,160
Other Revenue $43,461,468
TOTAL REVENUE $1,802,305,808

Expense Breakdown

Grants Paid $365,735,302
Salaries & Benefits $626,090,658
Fundraising Expenses $5,931,898
Program Expenses $1,231,742,514
Other Expenses $465,043,926
TOTAL EXPENSES $1,456,869,886

Year-over-Year Comparison

2023 2022 Change
Revenue $1,802,305,808 $1,565,676,548 +0.2%
Expenses $1,456,869,886 $1,381,066,428 +0.1%
Net Income $345,435,922 $184,610,120 +0.9%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
29
Independent Members
12
Employees
13097
Volunteers
10013

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$3,942,853
Total Directors
30
$2,610,010
Key Employees
13
$5,093,790
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR JAMES CHADWELL HEAD COACH - FOOTBALL 55.0
Highest
$5,877,112 $59,397 $5,936,509
MR RITCHIE L MCKAY HEAD COACH - BASKETBALL 55.0
Highest
$1,857,202 $67,159 $1,924,361
MR IAN MCCAW VP & DIRECTOR OF ATHLETICS 55.0
Key Emp
$905,748 $67,159 $972,907
PASTOR JONATHAN FALWELL TRUSTEE/CHANCELLOR 30.0
Officer Director
$822,573 $11,927 $834,500
DR JERRY PREVO TRUSTEE/PRESIDENT EMERITUS 42.0
Director
$784,082 $37,954 $822,036
DR ROBERT RITZ CHIEF FIN. OFFICER/TREASURER 53.0
Officer
$732,062 $65,324 $797,386
DR RONALD KENNEDY EVP FOR ENROLLMENT & MARKETING 55.0
Key Emp
$548,194 $67,159 $615,353
DR DONDI COSTIN TRUSTEE/PRESIDENT 55.0
Officer Director
$556,191 $21,398 $577,589
MR DAVID CORRY GENERAL COUNSEL/SECRETARY 55.0
Officer
$475,845 $65,858 $541,703
MR JOHN CURTIS ASSISTANT COACH - FOOTBALL 55.0
Highest
$495,102 $26,860 $521,962
DR SCOTT HICKS PROVOST & CHIEF ACADEMIC OFF. 54.0
Officer
$469,749 $22,425 $492,174
MR WILLIAM KORN ASSISTANT COACH - FOOTBALL 55.0
Highest
$455,962 $33,276 $489,238
DR MARK F HORSTEMEYER DEAN, SCHOOL OF ENGINEERING 55.0
Highest
$420,530 $66,897 $487,427
MR JOHN GAUGER CIO & EVP Analytics 55.0
Key Emp
$430,716 $34,233 $464,949
MR STEVE FOSTER EVP OF HUMAN RESOURCES 55.0
Key Emp
$369,528 $44,659 $414,187
MRS CINDY GAEBE SVP OF FIN.& CHIEF INVEST OFF. 50.0
Officer
$391,544 $13,733 $405,277
MR CHARLES SPENCE SVP OF CAMPUS FACILITIES & TRA 54.5
Key Emp
$285,733 $63,915 $349,648
MR DANIEL DETER VP OF MAJOR CONSTRUCTION 55.0
Key Emp
$316,428 $27,733 $344,161
REV GLENN CLARY VP OF STRATEGIC P'SHIPS&ALLIA 55.0
Key Emp
$268,455 $63,915 $332,370
MR DON MOON FORMER KEY EMPLOYEE 40.0
$268,713 $58,187 $326,900
MR CRAIG PETTITT VP OF REAL ESTATE MANAGEMENT 54.0
Key Emp
$266,174 $43,733 $309,907
DR LAWRENCE HINE EVP OF STUDENT AFFAIRS 53.0
Key Emp
$264,338 $41,062 $305,400
MR DANIEL APPLEWHITE DEPUTY GEN. COUNSEL/ASST. SECY 55.0
Officer
$269,162 $25,062 $294,224
MR BRIAN MENTZER EVP OF DEVELOPMENT 55.0
Key Emp
$251,835 $25,556 $277,391
MR SHON MULDROW FORMER KEY EMPLOYEE 40.0
$228,188 $33,026 $261,214
MRS ASHLEY REICH SVP OF UNIVERSITY COMPLIANCE 55.0
Key Emp
$216,677 $34,979 $251,656
MR SCOTT SPEAR VP OF FINANCE & ADMINISTRATION 53.0
Key Emp
$226,275 $23,844 $250,119
MR MATT COOPER VP OF STUDENT FINANCIAL SERVIC 55.0
Key Emp
$183,311 $22,431 $205,742
MR ANTHONY BECKLES TRUSTEE/ONLINE CHAIR 43.0
Director
$113,389 $29,115 $142,504
DR BRIAN AUTRY TRUSTEE & ADJUNCT PROFESSOR 27.0
Director
$56,000 $0 $56,000
DR JOHN BOREK JR TRUSTEE & ADJUNCT PROFESSOR 27.0
Director
$39,200 $568 $39,768
DR DAVID RHODENHIZER TRUSTEE 3.0
Director
$28,747 $0 $28,747
MR WILLIAM TINNEY TRUSTEE 2.0
Director
$25,984 $0 $25,984
EVANGELIST TIM LEE TRUSTEE 3.0
Director
$25,958 $0 $25,958
MR GILBERT TINNEY JR FORMER TRUSTEE 0.0
$18,668 $0 $18,668
EVANGELIST WILLIAM F GRAHAM TRUSTEE 2.0
Director
$15,860 $0 $15,860
MR CHRIS RHODENHIZER TRUSTEE 1.0
Director
$12,290 $0 $12,290
MR JEFFERY S YAGER TRUSTEE 2.0
Director
$11,900 $0 $11,900
DR DON CRAIN TRUSTEE 2.0
Director
$9,775 $0 $9,775
DR JACK GRAHAM TRUSTEE 2.0
Director
$3,500 $0 $3,500
DR ALLEN MCFARLAND TRUSTEE 1.0
Director
$1,500 $0 $1,500
DR RICHARD G LEE TRUSTEE 1.0
Director
$974 $0 $974
MR CARROLL HUDSON TRUSTEE 3.0
Director
$750 $0 $750
MR WILLIAM E WESTOVER TRUSTEE 1.0
Director
$250 $0 $250
MR JEFFREY F BENSON TRUSTEE 4.0
Director
$125 $0 $125
MRS GAYE OVERTON BENSON TRUSTEE 2.0
Director
$0 $0 $0
MR JOHN HEATH TRUSTEE 2.0
Director
$0 $0 $0
MS ANGELA JORDAN TRUSTEE 1.0
Director
$0 $0 $0
DR GENE MIMS TRUSTEE 2.0
Director
$0 $0 $0
MS PENNY NANCE TRUSTEE 2.0
Director
$0 $0 $0
MR RICHARD OSBORNE TRUSTEE 3.0
Director
$0 $0 $0
MR GALEN PEEL SR TRUSTEE 1.0
Director
$0 $0 $0
DR HAROLD RAWLINGS TRUSTEE 1.0
Director
$0 $0 $0
DR DWIGHT REIGHARD TRUSTEE 2.0
Director
$0 $0 $0
DR JERRY VINES TRUSTEE 3.0
Director
$0 $0 $0
MR GILBERT TINNEY TRUSTEE 2.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $1,802,305,808 $1,456,869,886 $4,612,068,688 $345,435,922
2023 $1,565,676,548 $1,381,066,428 $4,157,125,287 $184,610,120
2022 $1,594,106,664 $1,284,086,793 $3,991,603,424 $310,019,871
2021 $1,515,953,706 $1,165,679,488 $3,931,030,973 $350,274,218
2020 $1,343,657,390 $1,093,741,798 $3,367,494,352 $249,915,592
2019 $1,289,595,085 $1,001,115,779 $3,127,381,424 $288,479,306
2018 $1,159,314,971 $906,520,205 $2,812,938,906 $252,794,766
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