Lipscomb University
- Assets
- $475.2m
- Revenue
- $193.6m
- Investments
- $84.6m
- Employees
- 2,919
- Location
- Nashville, TN
- Founding
- 12/1940
- Data as of
- 05/2020
- EIN
- 62-0485733
Organization Overview
Lipscomb University is located in Nashville, TN. The organization was established in 1940. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2020, Lipscomb University employed 2,919 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 05/2020, Lipscomb University generated $193.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $204.9m during the year ending 05/2020. While expenses have increased by 3.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
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. LIPSCOMB ALSO SEEKS TO MAKE A POSITIVE DIFFERENCE IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL.
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.
AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy R Lowry III President | Officer | 40 | $570,348 |
Charles Acuff Coach | Officer | 40 | $225,975 |
Danny Taylor Sr VP Finance And Administration | Officer | 40 | $213,018 |
Charles R Eldridge Dean Of College Of Busines | Officer | 40 | $212,994 |
Thomas Campbell Dean Of College Of Pharmac | Officer | 40 | $212,766 |
W Craig Bledsoe Provost | Officer | 40 | $202,405 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Constructors Inc Construction | 5/30/20 | $3,772,732 |
Solomon Builders Inc Construction | 5/30/20 | $5,793,458 |
Df Chase Inc Construction | 5/30/20 | $5,461,599 |
Us Bank Financial Services | 5/30/20 | $3,397,196 |
Sodexo Inc And Affiliates Food Service | 5/30/20 | $4,650,675 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,299,060 |
| Investment income | $1,477,873 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,021,478 |
| Net Gain/Loss on Asset Sales | -$3,045,958 |
| Net Income from Fundraising Events | $36,216 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $193,551,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $45,158,225 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,503,186 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,018,927 |
| Pension plan accruals and contributions | $2,592,206 |
| Other employee benefits | $6,426,103 |
| Payroll taxes | $4,936,189 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105,391 |
| Fees for services: Accounting | $326,591 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $309,078 |
| Fees for services: Other | $4,939,329 |
| Advertising and promotion | $2,120,407 |
| Office expenses | $6,074,111 |
| Information technology | $2,672,731 |
| Royalties | $0 |
| Occupancy | $2,321,292 |
| Travel | $6,383,537 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $698,883 |
| Interest | $6,503,594 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,916,869 |
| Insurance | $8,024,767 |
| All other expenses | $0 |
| Total functional expenses | $204,929,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,076,453 |
| Savings and temporary cash investments | $21,439,713 |
| Pledges and grants receivable | $29,599,966 |
| Accounts receivable, net | $14,105,669 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,131,245 |
| Investments—publicly traded securities | $368,362 |
| Investments—other securities | $84,593,181 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,424,510 |
| Total assets | $475,201,837 |
| Accounts payable and accrued expenses | $22,976,926 |
| Grants payable | $2,582,024 |
| Deferred revenue | $9,454,673 |
| Tax-exempt bond liabilities | $205,318,274 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $48,420,640 |
| Total liabilities | $290,452,537 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $184,749,300 |
Grants Awarded
Over the last fiscal year, Lipscomb University has awarded $31,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Nashville, TN PURPOSE: SCHEDULED INVESTMENT | $10,000 |
Miami, FL PURPOSE: IMPACT/CAMPER DONATION | $6,000 |
Dallas, TX PURPOSE: NASHVILLE HEART GALA 2020 | $5,000 |
Nashville, TN PURPOSE: NEW WORKS SPONSORSHIP | $5,000 |
Nashville, TN PURPOSE: SILVER SPONSORSHIP FOR 2019 HALL OF FAME | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Lipscomb University has recieved totaling $294,970.
| Awarding Organization | Amount |
|---|---|
Adams Christian Tr Murfreesboro, TN PURPOSE: SCHOLARSHI | $100,000 |
Louis R Draughon Foundation Birmingham, AL PURPOSE: GENERAL OPERATING | $65,000 |
Anderson Family Foundation Salem, OR PURPOSE: RELIGIOUS | $60,000 |
Washington Foundation Nashville, TN PURPOSE: UNRESTRICTED GIFT | $22,500 |
Harrison-Robbie Dearing Foundation Nashville, TN PURPOSE: GENERAL | $11,600 |
Servant Foundation Overland Park, KS PURPOSE: EDUCATION | $8,750 |
Endowment Analysis
| Beg. Balance | $82,027,830 |
| Earnings | $1,794,871 |
| Net Contributions | $1,116,854 |
| Other Expense | $2,273,052 |
| Grants | $2,966,158 |
| Ending Balance | $79,700,345 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Winstonsalem, NC | $2,139,822,388 | $583,443,727 |
Emory University Decatur, GA | $308,834,835 | $526,678,235 |
Savannah College Of Art And Design Inc Savannah, GA | $1,297,162,714 | $587,003,201 |
University Of Richmond Richmond, VA | $2,953,130,131 | $458,087,443 |
The Corporation Of Mercer University Macon, GA | $834,032,550 | $406,533,025 |
Elon University Elon, NC | $893,737,232 | $328,453,491 |
Belmont University Nashville, TN | $1,133,197,968 | $378,873,316 |
Campbell University Inc Buies Creek, NC | $612,904,970 | $261,461,317 |
Samford University Birmingham, AL | $717,316,592 | $233,018,125 |
Lipscomb University Nashville, TN | $475,201,837 | $193,551,646 |
Hampton University Hampton, VA | $779,168,098 | $206,010,995 |
Webster University St Louis, MO | $393,134,797 | $161,315,329 |