Liberty’s Future May 18, 2007
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As I have mentioned before, Liberty has been preparing for a change of command for some years now. The school is on outstanding financial ground, thanks largely to the donation of an old cell phone plant to the school (from Hobby Lobby) which now houses a new student center and the law school.
Pam had a follow up in the paper this morning with comments from Tim LaHaye (LaHaye Ice Center ) and Mark DeMoss (DeMoss Learning Center.)
The interesting thing will not be how the school continues to grow — it will continue, I assure you — but how the perception of the institution might change. Jerry Jr. is not as outspoken in his beliefs as was his father. Perhaps the school will finally be seen for the economic driver it is, not for Falwell Sr.’s outlandish comments.
Shanna Flowers had a great column today.
Larry Flynt on Jerry Falwell (Thanks, Kantor)
“The Reverend Jerry Falwell and I were arch enemies for fifteen years. We became involved in a lawsuit concerning First Amendment rights and Hustler magazine. Without question, this was my most important battle – the l988 Hustler Magazine, Inc., v. Jerry Falwell case, where after millions of dollars and much deliberation, the Supreme Court unanimously ruled in my favor.
“My mother always told me that no matter how much you dislike a person, when you meet them face to face you will find characteristics about them that you like. Jerry Falwell was a perfect example of that. I hated everything he stood for, but after meeting him in person, years after the trial, Jerry Falwell and I became good friends. He would visit me in California and we would debate together on college campuses. I always appreciated his sincerity even though I knew what he was selling and he knew what I was selling.
“The most important result of our relationship was the landmark decision from the Supreme Court that made parody protected speech, and the fact that much of what we see on television and hear on the radio today is a direct result of my having won that now famous case which Falwell played such an important role in.”
Insurance May 8, 2007
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According to this article, LU is funding its endowment and athletics program through use of life insurance plans.
I don’t really get this — any guidance out there? Is this a popular form of funding this stuff?
Liberty Shopping May 8, 2007
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LU has applied for a land permit that would give permission for the school to build a shopping mall on the south side of east campus.
Businesses there will be similar in nature to those at River Ridge Mall. This could mean trouble for the mall, which has struggled to become a popular destination for the local community.
LU plans to sell the land to a shopping center developer for the price of $200,000 per acre.
That explains above average profits.
Checking in May 2, 2007
Posted by atjohnson in Business, Education, Expansion, Financial, Jerry Falwell, Liberty University.2 comments
The VA Tech shooting has pretty much ruled my life for the past few weeks, as I’m sure it has for everyone.
I had the bitter sweet opportunity to go to Blacksburg and string for TIME Magazine — good folks, good workers…
As for Falwell, it looks like he has plenty on his plate for right now. The new tax forms should be coming in sometime this month… It will be interesting to compare “profits” from the last fiscal year.
LU does have a tidbit on its Web site on that new mirrored pinout technology I blogged about. No news there, just waiting on a patent and continuing to market through their new company, TopLine.
The new school of engineering and sciences opens in the Fall.
Liberty Race Car April 13, 2007
Posted by atjohnson in About Jerry, Business, Education, Expansion, Financial, Jerry Falwell, Liberty University, NASCAR, Technology.2 comments
I missed this one last week, as reported from the Bedford Bulletin. Liberty University is sponsoring a race car.
Stephen Berry, a freshman at LU, got the university to sponsor his #71 Monte Carlo Late Model Stock Car for the full NASCAR Whelen All-American Series at the Motor Mile Speedway in Radford.
Among the “associate” sponsors are Falwell Aviation (I had not clue that existed), Liberty Dining and Barnes and Noble at Liberty University.
According to the LU Web site, “Liberty’s sponsorship of the team and the association to the sport of racing and NASCAR’s 90 million fans will provide great exposure for the team and the University. “
Anyone out there know how much it costs to sponser a car like this?
Comparing Liberty Profits April 11, 2007
Posted by atjohnson in Business, Education, Financial, Jerry Falwell, Liberty University.1 comment so far
Here is a rundown of the profits of some other Christian universities. The information is from each institutions 2005 form 990 from guidestar.org. Profit was calculated by taking total revenue and subtracting total expenses.
Colorado Christian University- $407,409
Oklahoma Christian University- $85,878
Cincinnati Christian University- $552,127
Northwest University- $757,426
Liberty University Tax Form April 6, 2007
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I got my hands on Liberty University’s 990 through guidestar.org, which provides IRS tax forms for not-for-profit, tax-exempt organizations.
Liberty University is officially Liberty University INC. according to the forms.
In 2004-05 tax year the institution received the following:
$1,400,548 in direct public support
$3,666,054 in indirect public support
$146,474,303 in total assets
$64,609,883 in total liabilities
$162,640,622 in total revenue
$150,496,014 in total expenses
That, according to my calculations, is $12,144,608 in profit
Liberty buys Roanoke TV Station March 12, 2007
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Liberty University has announced plans to by a struggling news channel stationed in Roanoke, WDRL, which broadcasts on channel 24 in the ‘Noke. LU’s Board of Trustees approved the $6 million deal, which still needs to be approved by the FCC and US Bankruptcy Court.
LU officials plan to use the station as a recruiting and advertising tool. The station currently reaches the areas of Danville, Roanoke and Lynchburg.
Check out the story here.
Money! March 4, 2007
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Thomas Road Baptist Church new auditorium $16,000,000 [partially funded by special gifts from congregation]
That, my friends, is alot of money.
Thomas Road Baptist Church March 4, 2007
Posted by atjohnson in Business, Expansion, Financial, Jerry Falwell, Liberty University, Religion, Uncategorized.2 comments
Here is a more in depth look at Thomas Road Baptist Church from Pamela Podger, who covers religion at the Roanoke Times.
“With frenetic energy this week, workmen bustled inside the Thomas Road Baptist Church before its rebirth Sunday.
Cords snaked down the main hall. Ladders littered corridors. The place buzzed as hundreds of workers laid bricks, arranged lighting and painted columns.
The Rev. Jerry Falwell’s church will mark its 50th anniversary Sunday in a new 6,000-seat sanctuary. From the church’s humble beginnings inside a sticky, abandoned Donald Duck bottling plant, the new structure culminates Falwell’s dream to have all of his ministries in one location.
“The church is the fulcrum, the heartbeat of the ministry,” said Falwell, 72. “This means the future Thomas Road Baptist Church will never have to build again. It’s unthinkable that you could overflow a 1-million-square-foot building. This is all in the Lord’s hands.”
The founder of the defunct Moral Majority is unapologetic about his mission, fanning the flames of evangelical causes and helping politicians who share his worldview. Presidential candidates make pilgrimages here, with Sen. John McCain, R-Ariz., giving the Liberty University commencement address in May and Sen. George Allen, R-Va., expected as a speaker Sunday.
Falwell is excited about his new church with its air-conditioned pulpit, high-definition screens and video cameras that will zoom in on worshippers during services and baptisms. The new church is housed in a complex that offers Christian education from preschool to doctorate degrees.
The son of an agnostic bootlegger, Falwell founded his church when he was 22, after years of listening to Christian radio at his mother’s bidding.
He was saved at 18 and, at his pastor’s urging, went to Baptist Bible College in Springfield, Mo., instead of Notre Dame, where he planned on studying journalism. In 1967, he spread his message with his Old Time Gospel Hour show, first by radio and then on television.
But he candidly admits to playing hookey from Sunday school as a youngster.
“Oh yes, many times,” Falwell said. “There was a fire escape just outside our Sunday school room. And when the teacher was praying, we would all — two or three of us — just disappear.”
With his Texas-size ambitions, Falwell has combined all his educational, recreational and worship amenities on one campus that includes his Liberty Christian Academy, with about 1,000 students, as well as his seminary, law school and university. All but the church sanctuary were recycled from the former 888,000-square-foot Ericsson cellphone plant. He acknowledges a bittersweet aspect of Sunday’s milestone, giving tribute to now-deceased people who encouraged him in 1956 when he knocked on 100 doors a day and invited residents to his new church.
“There are so many people, including my mother, who invested so much in me and this church and who will not be there Sunday. They’re gone,” Falwell said. “The people who heard me talk about this, but who won’t see it. That’s a disappointment.”
Falwell’s two sons, Jonathan and Jerry Jr., help run Liberty University and Thomas Road Baptist. The church, which started with 35 members, now claims 24,000 people on its rolls.
Jerry Falwell Jr., general counsel and vice chancellor at Liberty, said the last time the church moved into a new sanctuary was on its 14th anniversary.
“I was 8 years old in 1970 and I remember being so awestruck by the sheer size of the 3,000-seat auditorium that I spent more time staring at the distant ceiling than listening to the sermons,” Jerry Falwell Jr. said. “My kids will probably be similarly distracted on Sunday.”
Jonathan Falwell, who is the church’s executive pastor and shares pastoral duties with his father, tested the sound and lighting systems in the new sanctuary one day last week. The new church has an indoor and outdoor playground with biblical themes — from Noah’s Ark to Jonah and the whale. A long hall that they’ve dubbed “Main Street” offers worship opportunities, wireless Internet access and a coffee shop and restaurant called The Lion & The Lamb Cafe.
“It’s like a Christian Starbucks,” said Jonathan Falwell, who got his seminary degree from Liberty University in 1996. “We built this for people who live in the community and we want to reach with the gospel. We believe it is all part of God’s plan.”
Church members have painted murals or made tapestries, such as “I Am the Vine” and “Thy Will Be Done,” that adorn the new complex’s walls. It also has formal spaces for funerals and weddings, both inside and out.
The new church also has private places, such as a prayer chapel with the wood floors from the original church.
The Falwells have said they’re not sure if they’ll sell the former church facility that encases the abandoned bottling plant. “We’re not actively listing it; we’re playing it by ear,” said Jonathan Falwell.
Over the years, people have given Jerry Falwell Sr. about a dozen soda bottles from the Donald Duck plant. Those items adorn his office, along with photos of his eight grandchildren and a photo with the Rev. Billy Graham after Falwell officiated at a wedding.
Falwell, a portly preacher who was hospitalized twice in March 2005, has rolled back on his political and sometimes polarizing statements. He credits the Moral Majority with helping propel Ronald Reagan to the presidency. But years later, he was forced to apologize for partly blaming the Sept. 11 terrorist attacks on groups that “tried to secularize America,” including gays, feminists and the American Civil Liberties Union.
Falwell said his desire is to focus on his ministries, while growing his Liberty University legacy from the current 9,600 students to 25,000 students in the next decade or so. He said he plans to continue preaching for years, while allowing his son Jonathan to do more of the five Sunday services.
“He’ll begin doing two and I’ll do one sometime next year, and at some point in time I’m going fishing,” Falwell said. “I’ll never retire, but somewhere I’ll get off the treadmill.”
How they measure up
2,440 – Seats in the Roanoke Civic Center Performing Arts Center
2,500 – Seats in the sanctuary of First Baptist Church on Third Street in Roanoke
6,000 – Seats in the new Thomas Road Baptist Church sanctuary”