The IRS has officially declined to fulfill a FOIA request.
For the year ended June 30, 2018, Liberty University (EIN 54-0946734) reported total revenues of $1,159,314,971 which is about $48 million more than the prior year. Net assets exceeded $2 billion. The university employed about 13,000 during the fiscal year.
For the year ended June 30, 2019, Liberty University (EIN 54-0946734) was required to file a form 990-N, commonly known as an E-Postcard and only available to nonprofit organizations with revenues under $50,000. No financial data was provided (see below).
Just to be sure that there wasn't a replacement organization:
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Needless to say, a large nonprofit going from $1.2 billion to zero justifies an inquiry. The IRS claims that the matter is not subject to FOIA disclosure.
The form 990-N includes only eight items:
- Employer identification number (EIN), also known as a Taxpayer Identification Number (TIN).
- Tax year
- Legal name and mailing address
- Any other names the organization uses
- Name and address of a principal officer
- Web site address if the organization has one
- Confirmation that the organization’s annual gross receipts are $50,000 or less
- If applicable, a statement that the organization has terminated or is terminating (going out of business)
I checked with admissions. They say that Liberty University continues to be a nonprofit institution. A conversion to for-profit might explain the change in financial status but that is not the case. The primary accrediting body (Southern Association) lists Liberty University as not-for-profit.
I am considering several options for follow-up including the IRS IG.
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