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.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Run by 200 volunteers and 2,690 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $3.6M a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.9M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $135.3M in investments, Pt X · Ln 11–13
Fine: 0.3 months of spending in cash, plus $135.3M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $169K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$239.2M
50% of total assets
Looks good: liabilities are 50% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 25 voting members
Looks good: 22 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$272.1M
+12% vs prior year
Spent
$254.9M
To programs
84%
Net assets
$235.7M
By yearFY2021–FY2025
Revenue
$272.1M
FY2025▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2021$216.3M
FY2022$227.5M
FY2023$228.2M
FY2024$242.5M
FY2025$272.1M
Expenses
$254.9M
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2021$206.3M
FY2022$228.0M
FY2023$235.6M
FY2024$243.7M
FY2025$254.9M
Net assets
$235.7M
FY2025▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2021$221.5M
FY2022$214.6M
FY2023$203.3M
FY2024$213.5M
FY2025$235.7M

From the FY2025 Form 990 (year ending May 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1940.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $213.5M Management & general 15% · $37.8M Fundraising 1% · $3.6M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

33 people listed on the 990; $2.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$684,752Pt VII · Sec A
$365,213Pt VII · Sec A
Head of School
$315,605Pt VII · Sec A
Senior Vice President
$285,773Pt VII · Sec A
Director of Athletics
$273,729Pt VII · Sec A
Dean, College of Pharmacy
$264,165Pt VII · Sec A
$258,648Pt VII · Sec A
Dean Emeritus
$232,304Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Candice McQueen$684,752$569,195$680,508$179,644—
Randy R Lowry III——$410,728$591,213$538,233
Charles Acuff$365,213$362,278$339,006$320,904$298,961
Danny Taylor————$364,723
David Wilson—$352,151$164,401——
Brad Schultz$315,605$317,871$279,291$192,448—
Keith Hinkle$285,773$240,053$99,119——
John R Lowry———$279,895$220,174

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides a comprehensive Christian higher education that integrates academic excellence, liberal arts, and professional preparation to develop students spiritually, intellectually, socially, and physically.

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Provided by the organization

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3 programs · $191.7M · in their own filed words · FY2024
01

Instructional Expenses

Classroom and online and global instruction in a collaborative christian liberal arts learning environment from pre-kindergarten through the doctoral level and beyond with lifelong learning.

$135.3Mprogram expense
02

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.

$36.7Mprogram expense
03

Auxiliary Enterprises

Provides students with the engaging on-campus lipscomb experience. Students who live on campus typically experience a strong sense of positive community.

$19.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 8 funders →
Grants paid · 9 grants · $165.1M · 2020–2023
Unitemized GrantFY2022$57,654,502
Nashville Public Education FoundationFY2022$25,000
Unitemized GrantFY2021$55,620,923
Unitemized GrantFY2020$51,728,047

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$272.1M
Ln 12
Fees for servicesLn 2g$220.9M
Gifts and grantsLn 1h$29.2M
Other incomeLn 4–11$15.9M
Money outPt IX
$254.9M
Ln 25
Programscol B$213.5M
Managementcol C$37.8M
Fundraisingcol D$3.6M
Owns and owesPt X
$235.7M
net assets · Ln 32
Cash and savingsLn 1–2$6.7M
Total assetsLn 16$474.9M
LiabilitiesLn 26$239.2M
PeoplePt VI, VII
33
listed · VII A
PaidVII A9
Voting boardVI 1a25
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29.2M
Government grantsLn 1e$3.4M
Noncash giftsLn 1g$5.1M
Fundraising eventsLn 1c$204K
Fees for servicesLn 2g$220.9M
Investment incomeLn 3$6.0M
Other incomeLn 4–11$15.9M
Gains on assetsLn 7$3.5M
Total revenueLn 12$272.1M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$5.4M
Cash and savings togetherLn 1–2$6.7M
InvestmentsLn 11–13$135.3M
Land, buildings, equipmentLn 10c$293.5M
Other assetsLn 15$8.5M
Total assetsLn 16$474.9M
LiabilitiesLn 26$239.2M
Net assetsLn 32$235.7M
OperationsPt I, VI
EmployeesI 52,690
VolunteersI 6200
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$4.3M$6.7M
InvestmentsLn 11–13$124.3M$135.3M
Land, buildings, equipmentLn 10c$287.6M$293.5M
Total assetsLn 16$460.2M$474.9M
LiabilitiesLn 26$246.7M$239.2M
Net assetsLn 32$213.5M$235.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$29K$29K
Grants to domestic individualsLn 2$67.1M$67.1M
Pay of current officers, directors and key staffLn 5$1.6M$1.6M
Other salaries and wagesLn 7$80.0M$68.2M$9.7M$2.2M
Pension plan contributionsLn 8$2.4M$2.0M$331K$69K
Other employee benefitsLn 9$7.1M$5.3M$1.6M$276K
Payroll taxesLn 10$5.7M$4.8M$772K$142K
Legal feesLn 11b$105K$22K$83K
Accounting feesLn 11c$222K$222K
Investment management feesLn 11f$455K$455K
Other fees for servicesLn 11g$3.0M$2.4M$581K
Advertising and promotionLn 12$2.1M$377K$1.7M$9K
Office expensesLn 13$13.7M$7.5M$5.9M$294K
Information technologyLn 14$3.0M$1.5M$1.4M$47K
OccupancyLn 16$3.6M$2.9M$634K$10K
TravelLn 17$6.7M$6.1M$446K$146K
Conferences, conventions and meetingsLn 19$695K$666K$23K$6K
InterestLn 20$8.7M$7.0M$1.7M
Depreciation, depletion and amortizationLn 22$14.4M$10.8M$3.5M
InsuranceLn 23$11.5M$8.1M$3.2M$279K
Other expenses (24a–d)Ln 24$21.7M$18.2M$3.3M$128K
All other expensesLn 24e$1.1M$537K$608K
Total functional expensesLn 25$254.9M$213.5M$37.8M$3.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $272.1M$254.9M$17.2M$235.7M 990 PDF
FY2024 $242.5M$243.7M−$1.1M$213.5M 990 PDF
FY2023 $228.2M$235.6M−$7.4M$203.3M 990 PDF
FY2022 $227.5M$228.0M−$493K$214.6M 990 PDF
FY2021 $216.3M$206.3M$10.0M$221.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $272,059,219 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,423,955$29,248,517
I-9 Program service revenuePrior year $212,758,603$220,898,035
I-10 Investment incomePrior year $7,931,940$5,996,195
I-11 Other revenuePrior year $1,427,914$15,916,472
I-12 Total revenuePrior year $242,542,412$272,059,219
I-13 Grants and similar amounts paidPrior year $63,340,664$67,084,375
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $93,041,814$96,904,273
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $87,306,061$90,900,370
I-18 Total expensesPrior year $243,688,539$254,889,018
I-19 Revenue less expensesPrior year −$1,146,127$17,170,201
Part VI · Governance 22 of 25 board members independent, no flags
VI-1a Voting members of the governing body25
VI-1b Independent voting members22
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $272,059,219 across 12 lines filed
VIII-1c Fundraising events$204,302
VIII-1e Government grants$3,382,235
VIII-1f All other contributions, gifts and grants$25,661,980
VIII-1g Noncash contributions (included above)$5,112,969
VIII-1h Total contributions, gifts and grants$29,248,517
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $220,061,971 · Unrelated business $836,064$220,898,035
VIII-3 Investment incomeExcluded from tax $2,476,428$2,476,428
VIII-6 Net rental income or lossUnrelated business $299,559 · Excluded from tax $1,018,543$1,318,102
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,519,767$3,519,767
VIII-8 Net income from fundraising eventsExcluded from tax $23,885$23,885
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $14,574,485$14,574,485
VIII-12 Total revenueRelated to mission $220,061,971 · Unrelated business $1,135,623 · Excluded from tax $21,613,108$272,059,219
Part IX · Statement of functional expenses $254,889,018 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $29,347$29,347
IX-2 Grants to domestic individualsPrograms $67,055,028$67,055,028
IX-5 Pay of current officers, directors and key staffManagement $1,632,395$1,632,395
IX-7 Other salaries and wagesPrograms $68,191,348 · Management $9,660,507 · Fundraising $2,185,255$80,037,110
IX-8 Pension plan contributionsPrograms $2,031,649 · Management $330,952 · Fundraising $69,073$2,431,674
IX-9 Other employee benefitsPrograms $5,275,613 · Management $1,574,613 · Fundraising $275,880$7,126,106
IX-10 Payroll taxesPrograms $4,762,505 · Management $772,028 · Fundraising $142,455$5,676,988
IX-11b Legal feesPrograms $21,617 · Management $83,048$104,665
IX-11c Accounting feesManagement $222,070$222,070
IX-11f Investment management feesManagement $454,672$454,672
IX-11g Other fees for servicesPrograms $2,422,001 · Management $580,696$3,002,697
IX-12 Advertising and promotionPrograms $377,207 · Management $1,734,631 · Fundraising $8,871$2,120,709
IX-13 Office expensesPrograms $7,520,144 · Management $5,893,882 · Fundraising $293,634$13,707,660
IX-14 Information technologyPrograms $1,497,709 · Management $1,448,543 · Fundraising $46,704$2,992,956
IX-16 OccupancyPrograms $2,939,789 · Management $633,701 · Fundraising $9,892$3,583,382
IX-17 TravelPrograms $6,089,645 · Management $446,204 · Fundraising $145,758$6,681,607
IX-19 Conferences, conventions and meetingsPrograms $665,977 · Management $23,356 · Fundraising $6,126$695,459
IX-20 InterestPrograms $6,980,225 · Management $1,677,009$8,657,234
IX-22 Depreciation, depletion and amortizationPrograms $10,828,206 · Management $3,539,027$14,367,233
IX-23 InsurancePrograms $8,060,388 · Management $3,165,484 · Fundraising $278,530$11,504,402
IX-24 Other expenses (24a–d)Programs $18,185,244 · Management $3,347,100 · Fundraising $128,211$21,660,555
IX-24e All other expensesPrograms $536,807 · Management $608,262$1,145,069
IX-25 Total functional expensesPrograms $213,470,449 · Management $37,828,180 · Fundraising $3,590,389$254,889,018
Part X · Balance sheet $474,908,065 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $4,175,272$1,311,903
X-2 Savings and temporary cash investmentsStart of year $118,449$5,388,619
X-3 Pledges and grants receivableStart of year $18,051,206$17,948,583
X-4 Accounts receivableStart of year $11,062,932$11,292,264
X-8 Inventories for sale or useStart of year $48,873$33,506
X-9 Prepaid expenses and deferred chargesStart of year $1,572,185$1,590,974
X-10c Land, buildings and equipment, netStart of year $287,591,798$293,541,971
X-11 Publicly traded securitiesStart of year $442,480$485,675
X-12 Other securitiesStart of year $123,846,053$134,851,593
X-15 Other assetsStart of year $13,249,799$8,462,977
X-16 Total assetsStart of year $460,159,047$474,908,065
X-17 Accounts payable and accrued expensesStart of year $17,545,491$18,243,740
X-19 Deferred revenueStart of year $12,588,761$11,294,028
X-20 Tax-exempt bond liabilitiesStart of year $198,914,480$196,633,530
X-25 Other liabilitiesStart of year $15,830,492$11,757,719
X-26 Total liabilitiesStart of year $246,671,486$239,182,826
X-27 Net assets without donor restrictionsStart of year $83,999,581$90,794,612
X-28 Net assets with donor restrictionsStart of year $129,487,980$144,930,627
X-32 Total net assets or fund balancesStart of year $213,487,561$235,725,239
X-33 Total liabilities and net assetsStart of year $460,159,047$474,908,065
Part XI · Reconciliation of net assets $235,725,239 net assets at year end
XI-1 Total revenue$272,059,219
XI-2 Total expenses$254,889,018
XI-3 Revenue less expenses$17,170,201
XI-4 Net assets at start of year$213,487,561
XI-5 Net unrealized gains (losses) on investments$4,817,007
XI-9 Other changes in net assets$250,470
XI-10 Net assets at end of year$235,725,239

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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