June 2021, Liberty University had $3.94 billion in assets and $474 million in liabilities. Its operating revenue was $1.15 billion and its operating expenses were $840 million. Its endowment was valued at $1.71 billion in fiscal year 2021. In fiscal year 2020, Liberty University received $800 million from online tuition and $361 million from residential student tuition. According to Third Way, Liberty uses less than 20 percent of its revenues for instruction.
In its early years, the university was held afloat financially by major donors. In 1987, Liberty University's 501(c)(3) tax-exempt status was formally recognized by the IRS.
In the 1990s, the university was placed on probation several times by the Southern Association of Colleges and Schools because of heavy debt. In 1990, the university owed $110 million; in 1996, it owed $40 million. The Unification Church was an early donor. In 1994, the university received $3.5 million through Sun Myung Moon's Women's Federation for World Peace. In 1996 News World Communications …
