Lipscomb University
Fiscal Year
Fiscal Year Start
06/01/2024
Fiscal Year End
05/31/2025
Projected Revenue
$167,405,739.00
Projected Expenses
$163,405,740.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| lipscomb university irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $228,207,955.00 | $227,470,382.00 | $216,257,194.00 |
| Total Expenses | $235,575,959.00 | $227,963,545.00 | $206,269,469.00 |
| Revenue Less Expenses | ($7,368,004.00) | ($493,163.00) | $9,987,725.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $1,903,062.00 | $9,953,238.00 | $11,455,950.00 |
| Contributions, Gifts, and Grants | $11,603,454.00 | $10,545,347.00 | $15,892,197.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $207,305,990.00 | $198,468,312.00 | $184,478,163.00 |
| Investment Income, Net of Losses | $4,958,206.00 | $7,348,271.00 | $3,550,307.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $81,851.00 | $75,472.00 | $0.00 |
| Revenue In-Kind | $2,354,985.00 | $1,079,632.00 | $880,554.00 |
| Other | $407.00 | $110.00 | $23.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $199,128,787.00 | $190,880,852.00 | $171,553,448.00 |
| Administration Expense | $33,015,003.00 | $33,343,002.00 | $30,696,882.00 |
| Fundraising Expense | $3,432,169.00 | $3,739,691.00 | $4,019,139.00 |
| Total Revenue/Total Expenses | 97% | 100% | 105% |
| Program Expense/Total Expenses | 85% | 84% | 83% |
| Fundraising Expense/Contributed Revenue | 1% | 2% | 2% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Program Revenue $207,305,990.00 | Program Revenue $198,468,312.00 | Program Revenue $184,478,163.00 |
| Second Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $11,603,454.00 | Contributions, Gifts, and Grants $10,545,347.00 | Contributions, Gifts, Grants $15,892,197.00 |
| Third Highest Funding Source & Dollar Amount | Investment Income $4,958,206.00 | Government Grants $9,953,238.00 | Government Grants $11,455,950.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $455,099,629.00 | $484,056,410.00 | $502,799,879.00 |
| Current Assets | $40,715,972.00 | $52,139,201.00 | $56,430,965.00 |
| Long-Term Liabilities | $1,828,843.00 | $1,500,000.00 | $205,652,325.00 |
| Current Liabilities | $249,937,675.00 | $267,960,769.00 | $75,361,843.00 |
| Total Net Assets | $203,333,111.00 | $214,595,641.00 | $221,515,711.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$117,264,975.00
What is the spending policy for your endowment?
Percentage
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Exempt
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Lipscomb University anticipates the most recent audit, Form 990, and budget to be ready for upload by early February 2020. |
Foundation Staff Comments
| Financial figures taken from 990. Foundation and Corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financial documents provided by LBMC, PC. Comments provided by Hayley Sulfridge 10/25/24. |
