Daily Archives: July 23, 2012

Memphis, TN Emmy Award-winning college football analyst Lee Corso is the recipient of the AutoZone Liberty Bowls most prestigious recognition, the Distinguished Citizen Award. Corso was the guest of honor at the kickoff event of the AutoZone Liberty Bowl Golf Classic at the Hilton Memphis Hotel where the award was presented. The event benefits St. Jude Childrens Research Hospital.

Lee Corso joins a long list of great Americans who have distinguished themselves in their chosen field, said Steve Ehrhart, Executive Director of the AutoZone Liberty Bowl. We are very proud to include Lee among the luminaries who have been honored by the AutoZone Liberty Bowl during our long and rich history.

Lee has been a trailblazer and pioneer throughout his career, said Ray Pohlman, 2012 President of the AutoZone Liberty Bowl. From his playing days at Florida State, to coaching stints in both college and professional football, and then as one of the originators of ESPNs College GameDay program, Lee has been at the forefront of college football.

As the 7th oldest bowl game in America, the AutoZone Liberty Bowl was founded on the principles of freedom, patriotism and liberty. One of the Bowls time-honored traditions is the annual presentation of the Distinguished Citizen Award. The award has been presented to a cross section of prominent Americans from a wide range of professions, including military commanders, governors and congressmen, as well as leaders in business, medicine, education, entertainment and sports. Previous honorees include among others U.S. Army Brigadier General Ken Tovo; FedEx Chairman, President and CEO Fred Smith; AutoZone founder Pitt Hyde; Nobel Prize recipient Dr. Peter Doherty; and entertainers Danny Thomas and Elvis Presley.

Corso joins others from the football coaching profession who have received the award, including Paul Bear Bryant, Eddie Robinson, John McKay, Johnny Majors, Dr. Tom Osborne, Frank Leahy, Tony Dungy, Bobby Bowden and last years honoree, Lou Holtz.

More here:
Autozone Liberty Bowl Honors Corso

Liberty Universitys net assets have sustained a fivefold increase from $150 million to $860 million over the past six years, driven by the rapid expansion of Libertys online programs.

While colleges across the country have struggled to make ends meet during the economic downturn, Libertys financial picture has grown stronger by the year, according to an examination of Libertys IRS 990 tax forms by The News & Advance.

In a nutshell, Libertys net assets show how much the university in Lynchburg is worth after subtracting its debt and other liabilities.

In 2006-07, the universitys net assets were $150 million, according to the 990 tax form, which non-profits must file annually with the IRS. Driven by a growing student body and influx of tuition dollars, Libertys net assets grew to $637 million by 2010-11, the most recent 990 available from the IRS.

As of June, Liberty officials said the school had about $860 million in net assets and expects that number to exceed $1 billion by years end a major milestone for the university.

Weve grown so fast that we cant spend it fast enough, LU Chancellor Jerry Falwell Jr. said.

Since Liberty is a non-profit, any surplus it generates must be invested back into the school. However, Falwell said there is no strict timeline about when Liberty must use the money; part of Libertys strategy is to build an endowment that will secure the long-term stability of the school.

We want to continue to improve the university and stay on the cutting edge, but we also want to put money away for the future, Falwell said.

For now, Liberty is focused on revitalizing campus and improving its academic programs, Falwell said.

Over past year, Liberty began pouring more than $220 million into construction projects that promise to transform campus over the next decade. Old buildings are being torn down and replaced with Jeffersonian architecture; makeshift dorms will be replaced with high-rise residence halls.

Continued here:
Liberty University's net assets headed for $1 billion, thanks to online