Lipscomb University 
The information on this page was last updated 8/30/2024. If you see errors or omissions, please email: [email protected]
Summary
Born from the powerful vision of courageous leaders, Lipscomb University leads at the forefront as pioneers in Christ-centered higher education, magnifying the best in everyone we encounter on our campus, in our community and around the world.
Contact information
Mailing address:
Lipscomb University
One University Park Drive
Nashville, TN 37204
Website: lipscomb.edu
Phone: 800-333-4358
Email: [email protected]
Organization details
EIN: 620485733
CEO/President: Dr. Candice McQueen
Chairman: Richard Cowart
Board size: 25
Founder: David Lipscomb and James Harding
Ruling year: 1940
Tax deductible: Yes
Fiscal year end: 05/31
Member of ECFA: No
Member of ECFA since:
Purpose
Anchored in our Christ-centered mission, Lipscomb University will lead as a top-tier, nationally recognized institution. We will excel in teaching, learning and research; be ambitious in our service to others; and be driven by continuous improvement.
Mission statement
We are a Christ-centered community preparing learners for purposeful lives through rigorous academics and transformative experiences.
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!"
Donor confidence score
Transparency grade
C
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 627 of 1118 | 86 of 130 |
| Fund acquisition rating | | 692 of 1119 | 91 of 130 |
| Resource allocation rating | | 505 of 1119 | 58 of 130 |
| Asset utilization rating | | 588 of 1118 | 77 of 130 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 22% | 17% | 14% | 28% | 31% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 2% | 2% | 2% | 3% | 3% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 18% | 7% | 10% | 13% | 9% | 9% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 2% | 2% | 2% | 3% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 82% | 93% | 90% | 87% | 91% | 91% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 85% | 84% | 83% | 84% | 84% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 103% | 100% | 95% | 106% | 101% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 87% | 84% | 79% | 89% | 85% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | -3% | 0% | 5% | -6% | -1% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | -4% | 0% | 5% | -6% | -1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 14% | 15% | 15% | 13% | 13% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.52 | 0.47 | 0.41 | 0.43 | 0.42 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.61 | 11.06 | 9.20 | 8.55 | 6.53 | 5.15 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.41 | 5.72 | 4.33 | 3.51 | 2.82 | 2.14 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.92 | 1.44 | 1.76 | 1.71 | 2.08 | 2.64 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.13 | 0.69 | 0.57 | 0.58 | 0.48 | 0.38 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.43 | 0.64 | 1.19 | 1.42 | 2.21 | 3.48 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 55% | 56% | 56% | 61% | 60% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 45% | 42% | 41% | 44% | 43% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 86% | 94% | 107% | 90% | 95% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $1,581,395 | $10,943,353 | $12,346,171 | $27,516,166 | $44,549,287 |
| Receivables, inventories, prepaids | $39,134,577 | $41,195,848 | $44,084,794 | $44,836,880 | $49,476,443 |
| Short-term investments | $443,983 | $477,848 | $2,410,325 | $368,362 | $428,117 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $41,159,955 | $52,617,049 | $58,841,290 | $72,721,408 | $94,453,847 |
| Long-term investments | $106,544,180 | $108,849,897 | $109,329,016 | $84,593,181 | $86,989,391 |
| Fixed assets | $289,405,521 | $288,670,911 | $290,773,845 | $261,462,738 | $223,336,384 |
| Other long-term assets | $17,989,973 | $33,918,553 | $43,855,728 | $56,424,510 | $81,960,391 |
| Total long-term assets | $413,939,674 | $431,439,361 | $443,958,589 | $402,480,429 | $392,286,166 |
| Total assets | $455,099,629 | $484,056,410 | $502,799,879 | $475,201,837 | $486,740,013 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $17,621,430 | $18,317,970 | $22,123,749 | $25,558,950 | $24,761,964 |
| Other current liabilities | $10,954,388 | $11,655,138 | $12,280,560 | $9,454,673 | $11,053,960 |
| Total current liabilities | $28,575,818 | $29,973,108 | $34,404,309 | $35,013,623 | $35,815,924 |
| Debt | $202,704,271 | $204,041,377 | $205,652,325 | $207,018,274 | $208,238,062 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $20,486,429 | $35,446,284 | $41,227,534 | $48,420,640 | $50,305,180 |
| Total long-term liabilities | $223,190,700 | $239,487,661 | $246,879,859 | $255,438,914 | $258,543,242 |
| Total liabilities | $251,766,518 | $269,460,769 | $281,284,168 | $290,452,537 | $294,359,166 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $86,602,020 | $89,200,529 | $93,778,686 | $71,421,765 | $80,519,429 |
| With donor restrictions | $116,731,091 | $125,395,112 | $127,737,025 | $113,327,535 | $111,861,418 |
| Net assets | $203,333,111 | $214,595,641 | $221,515,711 | $184,749,300 | $192,380,847 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $15,932,059 | $21,651,976 | $28,228,701 | $17,299,060 | $17,040,509 |
| Program service revenue | $203,055,331 | $195,835,550 | $182,524,563 | $175,762,977 | $176,697,513 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $7,688,389 | $7,957,008 | $4,215,747 | ($1,568,085) | $3,382,725 |
| Other revenue | $1,532,176 | $2,025,848 | $1,288,183 | $2,057,694 | $2,409,972 |
| Total other revenue | $212,275,896 | $205,818,406 | $188,028,493 | $176,252,586 | $182,490,210 |
| Total revenue | $228,207,955 | $227,470,382 | $216,257,194 | $193,551,646 | $199,530,719 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $199,128,787 | $190,880,852 | $171,553,448 | $173,068,078 | $169,624,905 |
| Management and general | $33,015,003 | $33,343,002 | $30,696,882 | $27,005,810 | $27,298,285 |
| Fundraising | $3,432,169 | $3,739,691 | $4,019,139 | $4,855,370 | $5,319,687 |
| Total expenses | $235,575,959 | $227,963,545 | $206,269,469 | $204,929,258 | $202,242,877 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | ($7,368,004) | ($493,163) | $9,987,725 | ($11,377,612) | ($2,712,158) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($7,368,004) | ($493,163) | $9,987,725 | ($11,377,612) | ($2,712,158) |
Compensation
| Name | Title | Compensation |
| Candice McQueen | President | $694,215 |
| Randy R Lowry III | President Emeritus | $528,165 |
| Charles Acuff | Coach | $368,891 |
| Brad Schultz | Head of School | $308,625 |
| Phil Hutcheson | Director of Athletics | $283,204 |
| Quincy Byrdsong | V. Provost of Health Affr | $267,086 |
| Thomas Campbell | Dean, College of Pharmacy | $257,799 |
| Matt Paden | Executive Vice President | $240,230 |
| R Michael Fernandez | Dean College of Ent & Art | $236,193 |
| Jeffrey Baughn | Sr V.p. of Fin & Tech | $235,227 |
| Charles R Eldridge | Dean of College of Bus | $232,557 |
| Jeffrey Forehand | Coach | $225,925 |
| Watler Bledsoe | Special Advisor | $218,950 |
| Parker Elrod | Dean, College of Engin | $214,965 |
| Christy Hooper | V. P. of Human Resources | $202,943 |
| Robert Young | Assistant Professor | $197,731 |
| David Wilson | General Counsel | $192,406 |
| Brett Hinson | V. P. of Information Tech | $191,394 |
| Darrell Duncan | Vice President of Finance | $187,001 |
| Kevin Eidson | Dir of Health & Wellness | $183,736 |
| David Holmes | Dean, Lib Arts & Sciences | $180,720 |
| Steven Joiner | Executive Director Icm | $171,966 |
| Byron Lewis | V. P. of Enrl Management | $164,634 |
| Hope Nordstrom | Spec Couns To Pres-Strate | $162,508 |
| William Turner | Distinguished Professor | $159,182 |
| Dave Bruno | Vice President of Mktg | $149,708 |
| Kim Chaudoin | VP of Pr & Communication | $124,480 |
| Brent Culberson | VP of Community Relations | $117,971 |
| Keith Hinkle | Senior Vice President | $107,406 |
| Scott Sager | V. P. of Church Services | $107,090 |
| Jennifer Shewmaker | Provost | $102,042 |
| Lindsay Bales | Chief of Staff | $93,237 |
Compensation data as of: 5/31/2023
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 8/30/2024. To update the information below, please email: [email protected]
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.