Liberty’s CFO honored at awards banquet

Don Moon, Liberty University’s Chief Financial Officer, was recognized Thursday night as one of the top financial officers for large non-profit organizations in Virginia.

Moon, 58, was one of three finalists in the category for the 2011 Virginia Chief Financial Officer Award sponsored by Virginia Business Magazine.

Moon, Chancellor Jerry Falwell Jr. and Falwell’s wife, Becki, represented Liberty at the awards banquet held at the Jefferson Hotel in Richmond.

Moon, who was named CFO by Liberty’s founder, Dr. Jerry Falwell, in 2006, has worked at Liberty for 32 years. He also serves on the Pittsylvania County School Board, where he has been elected for three consecutive four-year terms.

“It has been a humbling experience to work in this position for the last five years,” Moon said. “The tremendous growth Liberty University has experienced during this time is unreal. We know the Lord is blessing us every day.”

Falwell Jr. recently announced plans to push Liberty’s on-campus enrollment from around 12,000 students to 20,000 students in the next several years. Liberty University Online enrollment recently topped the 60,000-student mark.

“Don was one of my father’s most trusted staff members,” Falwell Jr. said. “Throughout the financial struggles that the university faced in the 1980s and early 1990s, Don worked with my father and me on a daily basis to help manage the crises that we faced.”

During Moon’s tenure as CFO, Liberty’s net revenues have grown from $4.8 million to a projected $200 million at the end of this fiscal year. Gross annual revenues have grown from nearly $147 million to a projected half-billion dollars.

“As CFO since 2006, Don has presided over growth that is almost unprecedented among American universities,” Falwell Jr. said.  “Since 2006, Liberty’s revenues have more than tripled, the university received a credit rating of AA from Standard & Poor’s in late 2010, and financial audits have been completed in a timely manner and have given Liberty a clean bill of health. Don’s loyalty, conservative financial practices and attention to detail have played a key role in helping Liberty attain financial prosperity.”

Moon was nominated for the award by the firm Dixon Hughes Goodman, which serves as Liberty’s auditor.

“Very few CFOs are ever nominated for such an award,” said Steven Farrar, a partner with Dixon Hughes Goodman. “From LU’s successful $120 million bond issue last fall to a total enrollment of over 70,000 students, LU could not be where it is without an exceptional CFO like Don.”

Moon was one of 41 CFOs nominated for the award, which was separated into five major categories.