2014-05-02T10:55:53-07:00 2013-06-30 990 2012-07-01 541061178 REGENT UNIVERSITY REGE 7573524050 1000 Regent University Drive Virginia Beach VA 23464 Dean Wooten 7573524050 2014-05-12 2012 2015-11-30 17:44:51Z Dean Wooten 1000 Regent University Dr Virginia Beach VA 23464 194201655 0 X www.regent.edu X Educational 1977 VA Regent University serves as a center of Christian thought and action to provide excellent education through a Biblical perspective and global context equipping Christian leaders to change the world 24 18 1540 39 8796794 -3455884 2931846 3303174 87119022 84467600 -305452 14634441 8931297 8939475 98676713 111344690 19272361 18382315 0 0 54334683 54910643 0 0 3382809 39283206 39976182 112890250 113269140 -14213537 -1924450 296522000 293913000 133190000 133505000 163332000 160408000 Regent University serves as a center of Christian thought and action to provide excellent education through a Biblical perspective and global context equipping Christian leaders to change the world. 0 0 87832740 17813741 103083552 Instruction - Schools of Communication & the Arts, School of Business & Leadership, Education, Psychology & Counseling, Divinity, Law, Government and College of Arts and Sciences. Includes Academic Support, Student Services, Scholarships, Auxiliaries & Academic Affairs. 908 Graduate degrees and 397 Undergraduate degrees were awarded in 2012-2013. (5953 students) 8207549 0 8261138 Hospitality Services - Hotel and conference center providing conference services, food and beverage services, banquets and other various hospitality services. 0 0 0 96040289 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 0 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 8241 0 1 1540 1 1 1 0 0 0 0 1 1 0 0 0 1 1 0 X 24 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK KY MD NH NY OH OK VA WA X Regent University Business Office 7573524050 1000 Regent University Dr Virginia Beach VA 23464 Beverly Brown 1 0 X 0 0 0 Vernon E Clark 1 0 X 100000 0 0 Chauncey W Crandall 1 0 X 0 0 0 Michael Carter 1 0 X 0 188962 0 William J Federer 1 0 X 0 0 0 Harry Jackson 1 0 X 0 0 0 Kay Peng Khoo 1 0 X 0 0 0 Robert E Levy 1 0 X 0 0 0 Charlie Lewis 1 0 X 0 0 0 Michael D Little 1 0 X 0 332467 15461 Howard W Long 1 0 X 0 0 0 William L Maynard Esq 1 0 X 0 0 0 Cheryl P McLeskey 1 0 X 0 0 0 David Melilli 1 0 X 0 0 0 Lowel W Morse 1 0 X 0 0 0 Conoly Phillips 1 0 X 0 0 0 M G Robertson 1 0 X 777 13721 135711 Jay A Sekulow 1 0 X 0 0 0 Daniel C Sellers Jr 1 0 X 0 0 0 Magda M Serrano 1 0 X 0 0 0 Robert O Snelling Sr 1 0 X 0 0 0 Andrew J Waites 1 0 X 0 0 0 Jennifer Whitelaw 1 0 X 0 0 0 Carlos A Campo 40 0 X X 300644 0 37337 Louis A Isakoff 40 0 X 287495 0 42005 Tracy R Stewart 40 0 X 198756 0 38175 Ann R LeBlanc 40 0 X 193447 0 31700 Paul Bonnicelli 40 0 X 189634 0 23091 Martha J Smith 40 0 X 158108 0 26285 Dean A Wooten 40 0 X 144030 0 28506 Sherry R Miller 40 0 X 132586 0 19593 Jeffrey A Brauch 40 0 X 241144 0 34362 Bruce E Winston 40 0 X 199448 0 27573 Douglas H Cook 40 0 X 176873 0 35547 John E Mulford 40 0 X 173711 0 30322 David J Gyertson 40 0 X 170749 0 31955 2667402 535150 557623 61 0 1 0 Clancy & Theys Construction Corp 516 West Cabarrus Raleigh NC 27603 Construction Services 10713084 Tocquigny Design Inc 401 Congress Ave Austin TX 78701 Marketing-Advertising Services 5210466 Christian Broadcasting Network 977 Centerville Turnpike Virginia Beach VA 23464 Facility Services 3399700 Royall and Company 1920 E Parham Rd Richmond VA 23228 Marketing - Advertising Consultants 552064 K-12 Teachers Alliance 20624 Abbey Woods Court North Frankfort IL 60423 Marketing Consultants 305937 56 0 0 0 0 326495 2976679 2379 3303174 Tuition and fees 611310 78314397 78314397 0 0 Sales & Services - Auxiliary 611710 5079532 0 0 5079532 Sales & Services - Educational 611710 44505 0 0 44505 Miscellaneous Educational Revenue 611710 1029166 0 0 1029166 0 0 0 0 84467600 6423620 0 275681 6147939 56918 0 0 56918 417872 0 0 417872 30200 0 0 0 30200 0 30200 0 29710 490 91010868 0 82856965 0 8153903 0 8153903 0 0 8153903 0 Hotel Services 721110 4106086 0 4106086 0 Food & Beverage (Caterers) 722320 4155052 0 4155052 0 Bookstore Commissions 451211 230265 0 230265 0 0 0 0 0 8491403 111344690 78314397 8796794 20930325 X 42000 42000 18331440 18331440 8875 8875 0 0 1882149 338335 1307830 235984 0 0 0 0 41444970 34870915 5294826 1279229 1634625 1286333 296686 51606 7154416 7547154 -781833 389095 2794483 2301741 381598 111144 223272 0 223272 0 300422 19080 270080 11262 110800 0 110800 0 0 0 0 0 0 0 0 0 0 0 4049074 2672481 897354 479239 7073994 6411977 630954 31063 2404031 1726133 258179 419719 1795344 916371 877055 1918 14686 14686 0 0 10548139 9055045 1448423 44671 1553796 1159524 201330 192942 0 0 0 0 70900 62629 5534 2737 292511 256754 35757 0 0 0 0 0 5351493 4690670 621499 39324 445715 34579 402690 8446 Repairs & Maintenance of Equipment 1458086 678548 778194 1344 Bad Debt Expense 870221 841692 28529 0 Hospitality 664545 553816 36470 74259 Hotel Services and Support 1941095 1769490 171605 0 808058 450021 349210 8827 113269140 96040289 13846042 3382809 89000 48000 58000 3103000 1954000 587000 2423000 1476000 0 4876000 4576000 0 0 429000 418000 1337000 1591000 210121000 96397000 104277000 113724000 92681000 76256000 78399000 81988000 9999000 10146000 0 0 0 0 296522000 293913000 11082000 10236000 0 0 689000 686000 88743000 88221000 0 0 0 0 32243000 33975000 0 433000 387000 133190000 133505000 X 133218000 135827000 10529000 4053000 19585000 20528000 163332000 160408000 296522000 293913000 X -1924450 0 0 0 0 -999550 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170064000 362000 11644000 0 25500000 0 156570000 188985000 343000 -9264000 0 10000000 0 170064000 170494000 770000 28221000 0 10500000 0 188985000 188110000 331000 -2947000 0 15000000 0 170494000 276050000 597000 -66037000 0 22500000 0 188110000 0.85 0.13 0.02 0 0 0 8278000 8278000 0 128113000 36777000 91336000 0 0 0 0 0 71632000 59620000 12012000 0 2098000 0 2098000 113724000 0 0 Venture Capital 34466000 F Hedge Funds 17212000 F Notes Receivable 12860000 F Real Estate Investment Trust 10131000 F Commodities 7319000 F 81988000 0 Bond Rebate Fund 387000 387000 X 93530949 0 0 0 0 0 93530949 0 17813741 17813741 111344690 96276000 0 0 0 820601 820601 95455399 0 17813741 17813741 113269140 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The University's endowments consist of approximately 115 individual funds established for a variety of purposes all relating to the University's overall exempt purpose of educating students. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The University has been recognized by the Internal Revenue Service as tax exempt under Section 501 (c)(3) of the Internal Revenue Code (IRC). Founders Conference Center, LLC, a single member limited liability corporation with the University as its member, is a disregarded entity (tax treatment is similar to that of a partnership) for federal and state income tax purposes. Regent does not believe its consolidated financial statements include any uncertain tax positions. SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Add institutional scholarships of $17,813,741 - included in expenses for 990. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Subtract $832,000 for Henrico, Inc - files a separate 990. Add back $ 1,652,000 for Frio Energy, Inc - files a spearate tax return. Add back $601 rounding adjustment. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Add institutional scholarships of $17,813,741 - included in expenses for 990. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Advertisements soliciting registration of new students include a summary statement of the non-discriminatory policy of the University. Sub-Saharan Africa 1 4 Program Services Program marketing for Regent University. 85823 1 4 85823 Sub-Saharan Africa Contributions for the support of persons who travel and promote the Business Development Center in Rwanda in association with Regent's Center for Entrepreneurship. 8875 Wire Transfer 0 0 1 0 0 0 0 0 0 1 Calvery International PO Box 10305 Jacksonville FL 32247 592142637 501 (c)(3) 42000 0 Contribution of support of persons who travel and promote Business Development Centers in Rwanda and Uganda in association with Regent's Center for Entrepreneurship. 0 1 Scholarships for students attending the various schools of Regent University. 4628 18331440 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The University awards financial aid to students based on certain elegibility requirements. The University's financial aid package is on file at the University and is available upon request. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Carlos A Campo 300644 0 0 0 0 0 12120 0 25217 0 337981 0 0 0 Louis A Isakoff 287495 0 0 0 0 0 11559 0 30446 0 329500 0 0 0 Tracy R Stewart 198756 0 0 0 0 0 8080 0 30095 0 236931 0 0 0 Ann R LeBlanc 193447 0 0 0 0 0 8080 0 23620 0 225147 0 0 0 Paul Bonnicelli 189634 0 0 0 0 0 7676 0 15415 0 212725 0 0 0 Martha J Smith 147248 0 0 0 10860 0 5939 0 20346 0 184393 0 0 0 Dean A Wooten 144030 0 0 0 0 0 5939 0 22567 0 172536 0 0 0 Sherry R Miller 132586 0 0 0 0 0 5377 0 14216 0 152179 0 0 0 Jeffrey A Brauch 241144 0 0 0 0 0 9760 0 24602 0 275506 0 0 0 Bruce E Winston 199448 0 0 0 0 0 6460 0 21113 0 227021 0 0 0 Douglas H Cook 176873 0 0 0 0 0 6558 0 28989 0 212420 0 0 0 John E Mulford 173711 0 0 0 0 0 7131 0 23192 0 204034 0 0 0 David J Gyertson 170749 0 0 0 0 0 6622 0 25333 0 202704 0 0 0 Michael D Little 0 325298 0 295 0 6874 0 3554 0 11907 0 347928 0 0 Michael Carter 0 163667 0 25295 0 0 0 0 0 0 0 188962 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a First class or charter travel: To facilitate its 24 hour security coverage of Dr. Robertson, Regent University provides charter air servcie for his business and personal flights. The University reports the taxable income for Dr. Robertson's personal flights on his form 1099. It uses the Standard Industry Fare Level (SIFL) method as allowed under IRS rules to value the personal flights. Travel for companions: Regent University may provide companion air travel for Dr. Robertson or its officers, directors and key employees when their families are required to travel for business purposes. A Virginia College Building Activity 541249154 927781BS2 2006-08-09 99473248 Refunding of existing bonds (June 01) and construction of dorms 0 0 0 A 0 8400000 99473248 8544084 0 66845955 1142743 0 0 22970466 0 0 2007 0 1 1 1 A 0 0 1 1 0 0.01 0 0.01 0 0 0 A 1 0 0 1 Wachovia Bank NA 30 1 0 0 A 1 Robertson Charitable Remainder Trust Founder of the organization. To provide working capital. X 6000000 4576000 0 1 1 4576000 F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Jay Sekulow, board member, works for an organization founded by MG Pat Robertson, Chancellor. Michael Little and Michael Carter, board members, work for an organization founded by MG Pat Robertson, Chancellor. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The 990 is reviewed by the Audit Committee and sent as a PDF file to all board members for their review before it is filed with the IRS. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The conflict of interest policy is regularly reviewed and consulted. The University requires officers, directors, trustees and key employees to complete a conflict of interest questionnaire and statement on an annual basis. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Regent University regularly reviews the compensation of its officers and key employeees to determine whether compensation is reasonable compared to similar positions of resonsibility at other institutions. The Compensation Committee of the Board of Trustees (in the absence of the Compensation Committee, the Audit Committee will assume this role) will periodically conduct an independent review of compensation which includes the President, all Vice Presidents and key employees. This process will include securing comparable compensation data from an independent source, reviewing the data to ensure that the compensation is reasonable and contemporaneous substantiation of the deliberation and decision making process. Futhermore, when Regent University hires a new officer, director or key employee or otherwise approves a significant increase in compensation for an officer or key employee, it will ensure that the compensation is reasonable compared to similar positions of responsibility. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 All governing documents, the conflict of interest policy, audited financial statements and the 990 tax return for the University are all available upon request. F990_P09_S00_L24e Form 990, Part IX, Line 24e Restrictions relieved and other expenses. F990_P11_S00_L09 Form 990, Part XI, Line 9 Subtract $999,550 unrealized loss on Regent Foundation. Reflected in current year on separate Regent Foundation 990. Founders Conference Center LLC 1000 Regent University Dr Virginia Beach VA 23464 541992893 Hospitality Services VA 8261138 3064000 Regent University Regent University Foundation 1000 Regent University Dr Virginia Beach VA 23464 204273074 Support Regent University VA 501(c)3 5 N/A Henrico Inc 1000 Regent University Dr Virginia Beach VA 23464 541998119 Title Holding Co VA 501(c)2 N/A Frio Energy Inc 977 Centerville Turnpike SHB 202 Virginia Beach VA 23463 611693385 Oil and Gas production NV Regent University C 100 100 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 Henrico Inc j 1100000 Henrico Inc p 1100000 Regent University Foundation b 975000 Frio Energy Inc b 3000000 Extension for filing until May 15, 2014 approved.