2024-03-08T10:51:27-06:00 2023-05-31 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2022-06-01 370711798 LINCOLN CHRISTIAN UNIVERSITY LINC 2177323168 100 CAMPUS VIEW DR LINCOLN IL 62656 SILAS MCCORMICK PRESIDENT 2177323168 2024-03-04 1 SILAS MCCORMICK 999009999 1 SAMUEL A CIGELNIK P00324762 3096714500 2024-03-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SILAS MCCORMICK 100 CAMPUS VIEW DR LINCOLN IL 62656 10157582 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 15 15 234 4 0 0 3761770 1989636 7349543 2337642 -65730 -3621187 18404 94850 11063987 800941 1425093 533626 0 0 5084669 2466413 0 0 370331 5040053 2144062 11549815 5144101 -485828 -4343160 26403234 18153001 10367806 4526694 16035428 13626307 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 2800029 533626 2437499 LINCOLN CHRISTIAN UNIVERSITY IS A CHRISTIAN 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. 2800029 1 1 0 0 0 0 0 0 0 1 1 0 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 25 0 1 234 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIELLE FIELDS 2177323168 100 CAMPUS VIEW DR LINCOLN IL 62656 DR ROGER CLARK TRUSTEE (BEG 5/5/23) 1.00 X 0 0 0 DR KAREN DIEFENDORF TRUSTEE (BEG 5/5/23) 1.00 X 0 0 0 DR TANNER GREEN VICE CHAIR (CHAIR - BEG 5/5/23) 1.00 X X 0 0 0 DR TAMSEN MURRAY CHAIRPERSON (THRU 5/5/23) 2.00 X X 0 0 0 GREG TAYLOR TRUSTEE (BEG 5/5/23) 1.00 X 0 0 0 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 GENE HARKER TRUSTEE (THRU 5/5/23) 1.00 X 0 0 0 WARREN KNOLES SECRETARY 1.00 X X 0 0 0 DAN VESELSKY TRUSTEE (VICE CHAIR - BEG 5/5/23) 1.00 X X 0 0 0 ERICA VINSON TRUSTEE 1.00 X 0 0 0 HABEEB HABEEB TRUSTEE (THRU 10/23) 1.00 X 0 0 0 DR DANIELLE FIELDS VICE PRESIDENT OF OPERATIONS 40.00 X 64522 0 8954 DR SILAS MCCORMICK PRESIDENT 40.00 X 84764 0 0 149286 0 8954 0 0 0 0 0 30 42309 18347 1928950 6992 1989636 NON-TRADITIONAL EDUCATION 611310 819251 819251 SEMINARY 611310 794469 794469 SCHOOL OF UNDERGRADUATE STUDIES 611310 416301 416301 MISCELLANEOUS 611310 250732 250732 AUXILIARY 611310 47739 47739 9150 9150 2337642 121812 121812 99857 0 99857 99857 99857 136173 5465412 136173 9208411 0 -3742999 -3742999 -3742999 7050 42309 12057 -5007 -5007 800941 2437499 0 -3626194 X 469008 469008 64618 64618 346836 123567 148846 74423 1586330 1071259 376000 139071 405731 363597 42134 127516 75267 39348 12901 16480 16480 116020 116020 35847 35847 84099 54722 29377 40174 17371 3275 19528 75269 6199 33985 35085 262700 262700 292008 222801 69207 39424 2485 16867 20072 21329 6430 220 14679 105439 105439 578779 514678 64101 MISCELLANEOUS 364507 20839 336531 7137 CONSULTANTS 37873 31145 6133 595 BANK FEES 34863 30157 4706 BAD DEBT 25050 25050 14201 14201 5144101 2800029 1973741 370331 1024364 1050953 2124742 2580325 165428 147064 2065929 1058097 181352 6721 6721 29020 16787 15917390 13550951 12132516 2366439 3980576 3794294 12087 86095 4841317 6463268 20534 401606 26403234 18153001 399244 184093 421514 164637 8457166 3125025 1089882 1052939 10367806 4526694 X 4764084 952745 11271344 12673562 16035428 13626307 26403234 18153001 -4343160 1934039 0 X X 0 1 X 1 1 1 X 2612495 2320266 4234814 3761770 1989636 14918981 2612495 2320266 4234814 3761770 1989636 14918981 47266 14871715 138932 106915 49444 160422 221669 677382 15596363 34561841 0.95350 0.96120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5422682 177827 -31706 99080 5469723 5715377 193371 -293110 192956 5422682 5385565 191458 695410 557056 5715377 5301066 109682 42074 67257 5385565 5336831 202720 -66530 171955 5301066 0.00000 1.00000 0.00000 0 0 446711 446711 5032641 3911290 1121351 9352462 8770725 581737 1085576 868936 216640 2366439 FARMLAND 4258718 F LAND 2204550 F 6463268 ANNUITY LIABILITY 141652 CHARITABLE TRUST LIABILITY 562485 FEDERAL PERKINS LIABILITY 343183 AGENCY LIABILITY HELD FOR OTHERS 5619 1052939 X 2164845 1934039 12057 1946096 218749 35847 546345 582192 800941 4573966 12057 12057 4561909 35847 546345 582192 5144101 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 12,057. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST REVENUE 532,144. CHANGE IN VALUE OF SPLIT-INTEREST 14,201. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 12,057. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS NETTED AGAINST REVENUE 532,144. CHANGE IN VALUE OF SPLIT-INTEREST 14,201. 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 10% INTERNATIONAL STUDENT GRANT FOR INTERNATIONAL CITIZENS STUDYING AT LCU CHINA 12 64618 PER SEMESTER, ON ACCOUNT 0 0 0 0 0 0 PART III ACCOUNTING METHOD: GOLF OUTING 8485 3785 4700 400 2251 537 2640 EVENING AT LCU GALA 40874 38524 2350 5794 435 49359 42309 7050 400 2251 6331 435 2640 12057 -5007 1 TRADITIONAL UNDERGRADUATE SCHOLARSHIPS 30 141913 NON-TRADITIONAL UNDERGRADUATE SCHOLARSHIPS 20 26618 SEMINARY/GRADUATE SCHOLARSHIPS 71 107771 ENDOWED SCHOLARSHIPS 63 192706 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. STUDENT APARTMENTS 2022-08-01 1230000 SALES PRICE 201691329 KING RENTALS 400 E JEFFERSON ST SPRINGFIELD IL 62701 6 BUILDINGS ON CAMPUS 2023-02-10 3975000 SALES PRICE 800265140 OPEN ARMS CHRISTIAN 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 AS OF JUNE 1, 2022, THE INSTITUTION BEGAN OPERATING UNDER A SIGNIFICANT ORGANIZATIONAL RESTRUCTURE. THIS RESTRUCTURE SIGNIFICANTLY REDUCED THE NUMBER OF MAJORS AND RESULTED IN A SUBSTANTIAL DECREASE IN STUDENT ENROLLMENT. THE MAJORS THAT WERE ELIMINATED INCLUDE THE FOLLOWING: SPORT MANAGEMENT, CHILDREN'S MINISTRY, COMMUNICATION STUDIES, MEDIA ARTS & MINISTRY, PHILOSOPHY AND APOLOGETICS, PREACHING MINISTRY, PSYCHOLOGY, CHURCH HISTORY/HISTORICAL THEOLOGY, SPIRITUAL FORMATION AND MINISTRY, WORSHIP MINISTRY, AND YOUTH AND FAMILY MINISTRY. 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 EACH YEAR THE BOARD OF TRUSTEES AND KEY OFFICERS ARE REQUIRED TO SIGN CONFLICT OF INTEREST AGREEMENTS WHERE THEY WOULD DISCLOSE PERTINENT INFORMATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S SALARY REGULARLY. 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 2022. 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 OTHER SERVICES: PROGRAM SERVICE EXPENSES 54,722. MANAGEMENT AND GENERAL EXPENSES 29,377. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,099. FORM 990, PART IX, LINE 24E CHANGE IN SPLIT INTEREST VALUE: PROGRAM SERVICE EXPENSES 14,201. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,201. 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.