2013-04-24T09:58:24-07:00 2012-06-30 990 2011-07-01 541061178 REGENT UNIVERSITY REGE 7573524050 1000 Regent University Drive Virginia Beach VA 23464 Dean Wooten 7573524050 2013-04-24 2011 2016-03-07 17:11:31Z Regent University Business Office 1000 Regent University Drive Virginia Beach VA 23464 298924043 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 25 20 1532 30 8648093 -3313367 4727780 2931846 80975385 87119022 11472166 -305452 9822331 8931297 106997662 98676713 17327552 19272361 0 0 49901268 54334683 0 0 3488977 38595360 39283206 105824180 112890250 1173482 -14213537 309544000 296522000 130125000 133190000 179419000 163332000 Bachelor and Graduate Level Education 0 0 86372721 19213361 87119022 Instruction - Schools of Communications & the Arts, Global Leadership and Entrepreneurship, Education, Psychology & Counseling, Divinity, Law, Government and Undergraduate Studies. Includes Academic Support, Student Serrvices, Scholarships, Auxiliaries & Academic Affairs. 789 Graduate degrees and 367 Undergraduate degrees were awarded in 2011-2012. (5925 students) 8612120 0 8115004 Hospitality Services - Hotel and conference center providing conference services, food and beverage services, banquets and other various hospitality services. 0 0 0 94984841 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 7703 0 1 1532 1 1 1 0 0 0 0 0 X 25 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ 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 X 0 0 0 Benjamin S Carson Sr 1 X 0 0 0 Vernon E Clark 1 X 100000 0 0 Chauncey W Crandall 1 X 0 0 0 Michael Carter 1 X 0 223177 15326 William J Federer 1 X 0 0 0 Harry Jackson 1 X 0 0 0 Kay Peng Khoo 1 X 0 0 0 Robert E Levy 1 X 0 0 0 Charlie Lewis 1 X 0 0 0 Michael D Little 1 X 0 332672 20789 Howard W Long 1 X 0 0 0 William L Maynard Esq 1 X 0 0 0 Cheryl P McLeskey 1 X 0 0 0 Lowel W Morse 1 X 0 0 0 A E Robertson 1 X 0 0 0 M G Robertson 1 X 2684 16574 124875 Thomas M Saltsgiver 1 X 0 0 0 Jay A Sekulow 1 X 0 0 0 Daniel C Sellers Jr 1 X 0 0 0 Magda M Serrano 1 X 0 0 0 Robert O Snelling Sr 1 X 0 0 0 Andrew J Waites 1 X 0 0 0 Carlos A Campo 40 X X 298339 0 33151 Louis A Isakoff 40 X 285342 0 38053 Tracy R Stewart 40 X 197390 0 35228 Ann R LeBlanc 40 X 193125 0 29077 Martha J Smith 40 X 144665 0 24737 Dean A Wooten 40 X 141184 0 26392 Sherry R Stocks 40 X 132016 0 18014 Paul Bonnicelli 40 X 87492 0 10583 Jeffrey A Brauch 40 X 239056 0 31275 Bruce E Winston 40 X 190220 0 25730 Douglas H Cook 40 X 176306 0 33145 John E Mulford 40 X 172195 0 27923 Alan A Arroyo 40 X 168033 0 25562 Alfred P Rovai 0 X 152320 0 15759 Jeffrey S Pittman 40 X 149886 0 24610 2830253 572423 560229 48 1 1 0 Tocquigny Design Inc 401 Congress Ave Austin TX 78701 Marketing-Advertising Services 4849610 Clancy & Theys Construction Corp 516 West Cabarrus Raleigh NC 27603 Construction Services 3858990 Christian Broadcasting Network 977 Centerville Turnpike Virginia Beach VA 23464 Facility Services 3135440 Royall and Company 1920 E Parham Rd Richmond VA 23228 Marketing - Advertising Consultants 502215 K-12 Teachers Alliance 20624 Abbey Woods Court North Frankfort IL 60423 Marketing Consultants 423943 15 0 0 0 0 303318 2628528 125188 2931846 Tuition and fees 611310 80663799 80663799 0 0 Sales & Services - Auxiliary 611710 4582791 0 0 4582791 Sales & Services - Educational 611710 39700 0 0 39700 Miscellaneous Educational Revenue 611710 1832732 0 0 1832732 0 0 0 0 87119022 5902002 0 270879 5631123 0 0 0 0 531903 0 0 531903 34214 0 0 0 34214 0 34214 0 33954 260 194039876 0 200247330 0 -6207454 0 -6207454 0 0 -6207454 0 Hotel Services 721110 4164570 0 4164570 0 Food & Beverage (Caterers) 722320 3950434 0 3950434 0 Bookstore Commissions 451211 228256 0 228256 0 21920 0 0 21920 8365180 98676713 80663799 8648093 6432975 59000 59000 19213361 19213361 0 0 0 0 1849410 326760 1290823 231827 0 0 0 0 41778908 34464325 5829915 1484668 1604721 1212216 325261 67244 6352879 7178556 -1211084 385407 2748765 2223841 401369 123555 220522 0 220522 0 143081 24630 112602 5849 141904 0 141904 0 0 0 0 0 0 0 0 0 0 0 3748230 2529677 795237 423316 6066300 5451314 609020 5966 2604590 1867677 320274 416639 1800380 857844 939643 2893 14998 14998 0 0 10395082 8946005 1405353 43724 1647645 1148313 322655 176677 0 0 0 0 67175 57176 9652 347 371533 324207 47326 0 0 0 0 0 5454106 4751620 664258 38228 372064 34673 326832 10559 Repair & Maintenance of Equipment 1362565 595164 763739 3662 Bad Debt Expense 1114115 631642 482473 0 Hospitality 558219 446081 52530 59608 Hotel Services and Support 2086903 1888062 198841 0 1113794 737699 367287 8808 112890250 94984841 14416432 3488977 53000 89000 64000 58000 4048000 1954000 2206000 2423000 0 0 5076000 4876000 0 0 442000 429000 1170000 1337000 195376000 91099000 102629000 104277000 115276000 92681000 68560000 78399000 10020000 9999000 0 0 0 0 309544000 296522000 8817000 11082000 0 0 522000 689000 89245000 88743000 0 0 0 0 0 0 0 0 31541000 32676000 130125000 133190000 X 149801000 133218000 10088000 10529000 19530000 19585000 179419000 163332000 309544000 296522000 X -14213537 -1873463 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 0.87 0.12 0.01 0 0 0 8278000 8278000 0 111534000 35344000 76190000 0 0 0 0 0 68249000 55755000 12494000 0 7315000 0 7315000 104277000 0 0 Venture Capital 38278000 F Notes Receivable 12860000 F Hedge Funds 10659000 F Real Estate Investment Trust 9019000 F Commodities 7583000 F 78399000 Line of Credit Facility 32243000 Bond Rebate Fund 387000 Capital Lease Payable 46000 32676000 98676713 112890250 -14213537 -2922920 0 0 0 954457 -1968463 -16182000 76663000 -2922920 0 0 0 -2922920 79585920 0 19090793 19090793 98676713 92845000 0 0 0 -831889 -831889 93676889 0 19213361 19213361 112890250 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 hte 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 statementss include any uncertain tax positions. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Add back $122,123 for Regent Foundation - files a separate 990. Add back $832,000 for Henrico, Inc - files a separate 990. Add back $334 rounding adjustment. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Add back institutional scholarships of $19,213,361. Subtract $122,123 for Regent Foundation - files a separate 990. Subtract 445 founding adjustment. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Subtract $832,000 for Henrico, Inc - files a separate 990. Add back $114 rounding adjustment. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Add institutional scholarshps of $19,213,361 - 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. 1 EnVest Global 905 Poquoson Crossing Chesapeake VA 23320 201733661 501(c)(3) 15000 0 Contribution to organization that compliments and extends the work of Regent's Center for Entrepreneurship. Calvary International PO Box 10305 Jacksonville FL 32247 592142637 501 (c)(3) 44000 0 Contribution for the support of persons who travel and promote Business Development Centers in Rwanda and Uganda in association with Regent's Center for Entrepreneurship. 2 0 Scholarships for students attending the various schools of Regent University. 4947 19213361 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 M G Robertson 0 0 0 0 2684 16574 0 0 0 124875 2684 141449 0 0 Carlos A Campo 298339 0 0 0 0 0 9000 0 24151 0 331490 0 0 0 Louis A Isakoff 285342 0 0 0 0 0 8584 0 29469 0 323395 0 0 0 Tracy R Stewart 197390 0 0 0 0 0 6000 0 29228 0 232618 0 0 0 Ann R LeBlanc 193125 0 0 0 0 0 6000 0 23077 0 222202 0 0 0 Martha J Smith 144665 0 0 0 13410 0 4410 0 20327 0 182812 0 0 0 Dean A Wooten 141184 0 0 0 0 0 4410 0 21982 0 167576 0 0 0 Sherry R Stocks 132016 0 0 0 0 0 3993 0 14021 0 150030 0 0 0 Paul Bonnicelli 87492 0 0 0 0 0 1900 0 8683 0 98075 0 0 0 Alfred P Rovai 152320 0 0 0 0 0 4427 0 11332 0 168079 0 0 0 Jeffrey S Pittman 149886 0 0 0 0 0 4424 0 20186 0 174496 0 0 0 Jeffrey A Brauch 239056 0 0 0 0 0 7247 0 24027 0 270330 0 0 0 Bruce E Winston 190220 0 0 0 0 0 4797 0 20933 0 215950 0 0 0 Douglas H Cook 176306 0 0 0 0 0 4787 0 28358 0 209451 0 0 0 John E Mulford 172195 0 0 0 0 0 5295 0 22628 0 200118 0 0 0 Alan A Arroyo 168033 0 0 0 0 0 4992 0 20570 0 193595 0 0 0 Michael Carter 0 223177 0 0 0 0 0 0 0 15326 0 238503 0 0 Michael D Little 0 332672 0 0 0 0 0 0 0 20789 0 353461 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 service 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. Virginia College Building Activity 541249154 927781BS2 2006-08-09 99473248 Refunding of existing bonds (June 01) and construction of dorms 0 0 0 0 0 1 1 1 0 0 1 1 0 0.01 0 0.01 1 1 0 0 1 Wachovia Bank NA 30 1 0 0 Robertson Charitable Remainder Trust To provide working capital. X 6000000 4876000 0 1 1 4876000 X 1 120188 Valuation at time of gift X 1 5000 Valuation at time of gift 0 0 1 0 F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 MG Pat Robertson, Chancellor of Regent University, is the husband of AE Robertson, a board member. Jay Sekulow, board member, works for an organization founded by MG Pat Robertson, Chancellor. Lowell Morse, board member, works as an independent contractor for an organization founded by MG Pat Robertson, Chancellor. Michael Little and Michael Carter, board members, works 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 employees to determine whether compensation is reasonable compared to similar positions of responsibility 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 or key employee or otherwise approves a significant increase in compensation for an officer or key employeee, 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_P11_S00_L05 Form 990, Part XI, Line 5 Subtract $1,873,000 unrealized loss on Regent Foundation. Reflected in current year on Regent Foundation on separate 990. Subtract rounding adjustment of $463. Founders Conference Center LLC 1000 Regent University Dr Virginia Beach VA 23464 541992893 Hospitality Services VA 8115004 3732000 Regent University Regent University Foundation 1000 Regent University Dr Virginia Beach VA 23464 204273074 Support Regent Univ 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 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 Henrico Inc j 1100000 Henrico Inc p 1100000 Regent University Foundation b 5800000