2024-11-13T07:24:03-06:00 2024-05-31 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2023-06-01 370711798 LINCOLN CHRISTIAN UNIVERSITY LINC 2177323168 100 CAMPUS VIEW DRIVE LINCOLN IL 62656 SILAS MCCORMICK PRESIDENT 2177323168 2024-11-12 1 1 SAMUEL A CIGELNIK P00324762 3096714500 2024-11-05 2023 2024-10-15 13:58:12Z SILAS MCCORMICK 100 CAMPUS VIEW DRIVE LINCOLN IL 62656 7447387 0 X WWW.LINCOLNCHRISTIAN.EDU X 1944 IL TO NURTURE AND EQUIP CHRISTIANS WITH A BIBLICAL WORLDVIEW TO SERVE AND LEAD IN THE CHURCH AND THE WORLD. X 9 9 76 20 0 0 1989636 1682063 2337642 1568194 -3621187 -1118682 94850 -10610 800941 2120965 533626 469275 0 0 2466413 2233678 0 0 244205 2144062 1710078 5144101 4413031 -4343160 -2292066 18153001 12797073 4526694 1243880 13626307 11553193 X LINCOLN CHRISTIAN UNIVERSITY IS A HIGHER EDUCATION COMMUNITY WHOSE MISSION IS TO NUTURE AND EQUIP CHRISTIANS WITH A BIBLICAL WORLDVIEW TO SERVE AND LEAD IN THE CHURCH AND THE WORLD. LCU OFFERS BACHELOR OF ARTS DEGREES IN BIBLICAL STUDIES AND CHRISTIAN MINISTRY; MASTER OF ARTS DEGREES IN BIBLICAL STUDIES, THEOLOGY, BIBLE & THEOLOGY, COUNSELING, MINISTRY, AND ORGANIZATIONAL LEADERSHIP; AND A MASTER OF DIVINITY. 0 1 2266349 469275 1568194 LINCOLN CHRISTIAN UNIVERSITY IS A HIGHER EDUCATION COMMUNITY WHOSE MISSION IS TO NURTURE AND EQUIP CHRISTIANS WITH A BIBLICAL WORLDVIEW TO SERVE AND LEAD IN THE CHURCH AND THE WORLD. LCU OFFERS BACHELOR OF ARTS DEGREES IN BIBLICAL STUDIES AND CHRISTIAN MINISTRY; MASTER OF ARTS DEGREES IN BIBLICAL STUDIES, THEOLOGY, BIBLE & THEOLOGY, COUNSELING, MINISTRY, AND ORGANIZATIONAL LEADERSHIP; AND A MASTER OF DIVINITY. 2266349 1 1 0 0 0 0 0 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 21 0 1 76 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARGIE MARTIN 2177323168 100 CAMPUS VIEW DRIVE LINCOLN IL 62656 BRETT ANDERSON TRUSTEE 1.00 X 0 0 0 JENNIFER ARMSTRONG TRUSTEE 1.00 X 0 0 0 DARRYL BOLEN TRUSTEE 1.00 X 0 0 0 DAN VESELSKY TRUSTEE 1.00 X 0 0 0 DR KAREN DIEFENDORF VICE CHAIR 1.00 X X 0 0 0 ERICA VINSON TRUSTEE 1.00 X 0 0 0 WARREN KNOLES SECRETARY 1.00 X X 0 0 0 GREG TAYLOR CHAIRPERSON 1.00 X X 0 0 0 DR TANNER GREEN TRUSTEE 1.00 X 0 0 0 DR SILAS MCCORMICK PRESIDENT 40.00 X 83000 0 0 DR DANIELLE FIELDS VP OF OPERATIONS 40.00 X 75000 0 18260 BRADY CREMEENS VP OF ADVANCEMENT 40.00 X 70216 0 8439 228216 0 26699 0 0 0 0 0 200 37500 1644363 1682063 SEMINARY 611310 884085 884085 SCHOOL OF UNDERGRADUATE STUDIES 611310 409534 409534 MISCELLANEOUS 611310 242676 242676 AUXILIARY 611310 21229 21229 CAMPUS EVENTS 611710 10670 10670 1568194 135588 135588 2888096 1168296 2888096 2422566 0 -1254270 -1254270 -1254270 5150 37500 15760 -10610 -10610 2120965 1568194 0 -1129292 X 433923 433923 35352 35352 238200 151910 64076 22214 1611174 1027511 433411 150252 272408 175180 73157 24071 111896 71959 30050 9887 26171 26171 108782 108782 32588 32588 80460 22706 52522 5232 8289 3835 4167 287 39704 4525 11337 23842 320 320 82924 82924 22864 2613 14395 5856 33035 16638 13833 2564 103394 103394 344252 257606 86646 71601 71601 REPAIRS & MAINTENANCE 328489 61355 267134 MISCELLANEOUS 287827 1236 286591 CHANGE IN SPLIT INTERES 104282 104282 BAD DEBT 35096 35096 4413031 2266349 1902477 244205 1050953 1916 2580325 1948440 147064 122616 1058097 332494 181352 177835 6721 6721 16787 42939 31309 2366439 11630 3794294 1152347 86095 6061281 6463268 2754489 401606 227304 18153001 12797073 184093 182948 164637 53355 3125025 1052939 1007577 4526694 1243880 X 952745 -773490 12673562 12326683 13626307 11553193 18153001 12797073 -2292066 218952 0 X X 0 1 X 1 1 1 X 2320266 4234814 3761770 1989636 1682063 13988549 2320266 4234814 3761770 1989636 1682063 13988549 75941 13912608 106915 49444 160422 221669 135588 674038 14662587 27001911 0.94890 0.95350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5469723 143750 -243486 132462 5237525 5422682 177827 -31706 99080 5469723 5715377 193371 -293110 192956 5422682 5385565 191458 695410 557056 5715377 5301066 109682 42074 67257 5385565 0.00000 1.00000 0.00000 0 0 42939 31309 11630 11630 CERTIFICATE OF DEPOSIT 13086 F MONEY MARKET FUNDS 6048195 F 6061281 LAND 2754489 F 2754489 ANNUITY LIABILITY 131855 CHARITABLE TRUST LIABILITY 593073 FEDERAL PERKINS LIABILITY 277481 AGENCY LIABILITY HELD FOR OTHERS 5168 1007577 X 1749532 218952 15760 234712 1514820 32588 573557 606145 2120965 3822646 15760 15760 3806886 32588 573557 606145 4413031 PART X, LINE 2: ON JUNE 1, 2009, THE UNIVERSITY ADOPTED THE FINANCIAL ACCOUNTING STANDARDS BOARD'S NEW ACCOUNTING REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS. UNDER THESE NEW REQUIREMENTS, A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD IS INITIALLY AND SUBSEQUENTLY MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE UNIVERSITY DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY FOR UNRECOGNIZED TAX BENEFITS AS A RESULT OF IMPLEMENTING THE NEW REQUIREMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 15,760. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST REVENUE 469,275. CHANGE IN VALUE OF SPLIT-INTEREST 104,282. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 15,760. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST REVENUE 469,275. CHANGE IN VALUE OF SPLIT-INTEREST 104,282. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 INCLUDED IN WRITTEN DOCUMENTATION PROVIDED TO COMMUNITY SERVED. SCHEDULE E, PART I, LINE 6 LCU RECEIVES FINANCIAL AID FROM THE STATE OF ILLINOIS AND AID FROM THE FEDERAL GOVERNMENT IN THE FORM OF PELL GRANTS, SEOG, FEDERAL DIRECT STUDENT LOANS, ACADEMIC COMPETITIVENESS GRANTS, AND PERKINS LOANS. 0 0 0 0 0 0 0 0 0 0 SCHOLARSHIP GRANT FOR INTERNATIONAL CITIZENS STUDYING AT LCU CHINA 3 35352 PER SEMESTER, ON ACCOUNT 0 0 0 0 0 0 FUNDRAISING GALA 32300 29850 2450 5881 5583 2138 GOLF OUTING 10350 7650 2700 1110 1048 42650 37500 5150 6991 5583 3186 15760 -10610 1 TRADITIONAL UNDERGRADUATE SCHOLARSHIPS 17 46602 SEMINARY/GRADUATE SCHOLARSHIPS 18 54189 ENDOWED SCHOLARSHIPS 98 333132 PART I, LINE 2: STUDENTS ARE AWARDED INSTITUTIONAL SCHOLARSHIPS BASED ON A VARIETY OF FACTORS, INCLUDING ACADEMIC HISTORY, MAJOR, FIELD OF STUDY, FINANCIAL NEED, ETC. SALE OF THE REMAINDER OF CAMPUS 2024-05-31 800000 SALES PRICE 800265140 OPEN ARMS CHRISTIAIN FELLOWSHIP 1321 STATE ROUTE 10 LINCOLN IL 62656 501(C)(3) 0 0 0 0 SCHEDULE N, PART II, LINES 1 AND 2: DUE TO ORGANIZATION'S FINANCIAL SITUATION AND RESULT OF DOWNSIZING, THE ORGANIZATION SOLD THESE PROPERTIES FOR A VALUE AGREED UPON BETWEEN BUYER AND SELLER. FORM 990, PART III, LINE 3 ON OCTOBER 3, 2023, LCU ANNOUNCED ITS PLAN TO CEASE ITS CREDIT-BASED ACADEMIC OPERATIONS AS OF MAY 31, 2024 AFTER THE END OF THE ACADEMIC SEMESTER IN SPRING 2024. AFTER MAY 31, 2024, LCU PLANS TO MODIFY ITS PURPOSE TO SERVING THE CHURCHES IN THE COMMUNITIES SURROUNDING LINCOLN, ILLINOIS AND OFFER CONFERENCES, CERTIFICATE-BASED COURSES, RETREATS, AND PULPIT SUPPLY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD DELEGATES THE PREPARATION AND FILING OF THE ORGANIZATION'S IRS FORM 990 TO THE PRESIDENT (OR HIS DESIGNEE). THE FINANCE TEAM SHALL REVIEW AND APPROVE THE IRS FORM 990 ANNUAL TAX FILING PRIOR TO SUBMISSION, AND THE BOARD SHALL RECEIVE A COPY OF THE IRS FORM 990 PRIOR TO ITS SUBMISSION. THE FINANCE TEAM SHALL VERIFY THAT THE COMPLETED IRS FORM 990 IS FILED ACCORDING TO IRS DEADLINES. CONSISTENT WITH THE REQUIREMENTS OF 6104(D) OF THE INTERNAL REVENUE CODE AND THE REGULATIONS THERE UNDER, COPIES OF THE ORGANIZATION'S FORM 990 SHALL BE MADE AVAILABLE, UPON REQUEST, IN A TIMELY MANNER, AND SUBJECT TO THE CHARGES PERMITTED BY LAW TO ANY INDIVIDUALS WHO REQUEST IT. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES ALONG WITH THE OFFICERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST AGREEMENT WHERE THEY WOULD DISCLOSE PERTINENT INFORMATION FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S SALARY. THE PRESIDENT'S CABINET AND HR DIRECTOR REVIEW THE SALARIES OF KEY EMPLOYEES, REGULARLY REVIEWING BENCHMARK DATA FOR COMPARISON. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 LCU'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST AGREEMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 22,706. MANAGEMENT AND GENERAL EXPENSES 24,579. FUNDRAISING EXPENSES 61. TOTAL EXPENSES 47,346. BANK FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 27,943. FUNDRAISING EXPENSES 5,171. TOTAL EXPENSES 33,114. FORM 990, PART XII, LINE 2C: THE FINANCE TEAM OVERSEES THE SELECTION OF THE INDEPENDENT AUDITOR AND THE AUDITING PROCESS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.