2012-05-14T16:50:37-07:00 2011-06-30 990 2010-07-01 541061178 REGENT UNIVERSITY REGE 7573524050 1000 Regent University Drive Virginia Beach VA 23464 Dean Wooten 7573524050 2012-05-15 2010 2016-02-24 21:20:13Z Regent University Business Office 1000 Regent University Drive Virginia Beach VA 23464 263129002 0 X www.regent.edu X Educational 1977 VA Bachelor and Graduate Level Education 25 20 1506 24 9812390 -3216423 5212069 4727780 69841478 80975385 6684309 11472166 9746466 9822331 91484322 106997662 14594833 17327552 0 0 47954023 49901268 0 0 3280023 36107354 38595360 98656210 105824180 -7171888 1173482 305310000 309544000 131109000 130125000 174201000 179419000 Bachelor and Graduate Level Education 0 0 82200328 17327532 80975385 Instruction - Schools of Communication & the Arts, Global Leadership & Entrepreneurship, Education, Psychology & Counseling, Divinity, Law, Government and Undergraduate Studies. Includes Academic Support, Student Services, Scholarships, Auxilaries & Academic Affairs. 812 Graduate degrees and 311 Undergraduate degrees were awarded in 2010-2011. (5,555 students) 5789681 0 9237050 Hospitality Services - Hotel and conference center providing conference services, food and beverage services, banquets and other various hospitality services. 0 0 0 87990009 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 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 7223 0 1 1506 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 Wellington Boone 1 X 0 0 0 Benjamin S Carson Sr 1 X 0 0 0 Vernon E Clark 1 X 150000 0 0 Chauncey W Crandall 1 X 0 0 0 William J Federer 1 X 0 0 0 Kay Peng Khoo 1 X 0 0 0 Robert E Levy 1 X 0 0 0 Michael D Little 1 X 0 332999 19380 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 David V Mellili 1 X 0 0 0 Lowel W Morse 1 X 0 0 0 G Conoly PHillips 1 X 0 0 0 A E Robertson 1 X 0 0 0 M G Robertson 1 X 2129 22229 117767 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 269090 0 25783 Louis A Isakoff 40 X 285007 0 31654 Tracy R Stewart 40 X 208408 0 30467 Ann R LeBlanc 40 X 106953 0 17131 Martha J Smith 40 X 151300 0 21916 Jeffrey S Pittman 40 X 143504 0 21787 Dean A Wooten 40 X 140892 0 23184 Sherry R Stocks 40 X 131823 0 15393 Alfred P Rovai 40 X 129567 0 12264 Jeffrey A Brauch 40 X 243764 0 26262 Bruce E Winston 40 X 178888 0 22572 Douglas H Cook 40 X 177304 0 29186 John E Mulford 40 X 172002 0 24127 David J Gyertson 40 X 166361 0 26861 Salvatore R Iaquinto 0 X 179640 0 13274 2836632 355228 479008 45 1 1 0 Tocquigny Design Inc 401 Congress Ave Austin TX 78701 Marketing-Advertising Services 4377657 Christian Broadcasting Network 977 Centerville Turnpike Virginia Beach VA 23464 Facility Services 3173376 AECOM Services INc 448 Viking Drive Suite 145 Virginia Beach VA 23452 Building Engineers 709551 Royall and Company 1920 E Parham Rd Richmond VA 23228 Marketing - Advertising Consultants 475387 APS Technology Architects 550 Greenwich Rd Virginia Beach VA 23462 Architecture Services 472543 10 0 0 0 0 337893 4389887 29430 4727780 Tuition and Fees 611310 75036354 75036354 0 0 Sales & Service - Auxiliary 611710 4800219 0 0 4800219 Sales and Services - Educational 611710 40535 0 0 40535 Miscellaneous Educational Revenue 611710 1098277 0 0 1098277 0 0 0 0 80975385 5772896 0 269012 5503884 4 0 0 4 278473 0 0 278473 31049 0 0 0 31049 0 31049 0 30569 480 161830606 0 156131340 0 5699266 0 5699266 0 0 5699266 0 Hotel Services 721110 4855596 0 4855596 0 Food & Beverage (Caterers) 722320 4381454 0 4381454 0 Bookstore Commissions 451211 275759 0 275759 0 0 0 0 0 9512809 106997662 75036354 9812390 17421138 0 0 17327552 17327552 0 0 0 0 1928820 443131 1253341 232348 0 0 0 0 39666180 33048874 5240133 1377173 955633 723502 201814 30317 4692645 7114820 -2839044 416869 2657990 2157864 382531 117595 243103 0 243103 0 165631 29894 130026 5711 131343 0 131343 0 0 0 0 0 0 0 0 0 0 0 3433277 2247540 756447 429290 5282482 4830503 450980 999 2619368 1915152 380666 323550 2010821 964909 1039261 6651 6822 6822 0 0 10231553 6598797 3590005 42751 1200482 825263 201657 173562 0 0 0 0 51956 45712 5977 267 394970 6 394964 0 0 0 0 0 5354435 4000035 1316468 37932 348470 34673 302472 11325 Repair & Maintenance of Equipment 1294590 654590 639371 629 Bad Debt Expense 407557 406544 1013 0 Hospitality 646701 510096 73852 62753 Restrictions Relieved 1825540 1825540 0 0 Hotel Services & Support 2030646 1944172 86474 0 915613 334018 571294 10301 105824180 87990009 14554148 3280023 67000 53000 1096000 64000 3675000 4048000 1265000 2206000 0 0 0 5076000 0 0 453000 442000 1072000 1170000 188327000 85698000 103456000 102629000 93223000 115276000 91246000 68560000 9757000 10020000 0 0 0 0 305310000 309544000 8414000 8817000 0 0 586000 522000 89727000 89245000 0 0 0 0 0 0 0 0 32382000 31541000 131109000 130125000 X 149503000 149801000 7287000 10088000 17411000 19530000 174201000 179419000 305310000 309544000 X 1173482 4044518 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170494000 770000 28221000 0 10500000 0 188985000 188110000 331000 -2947000 0 15000000 0 170494000 276050000 597000 -66037000 0 22500000 0 188110000 0.88 0.1 0.02 0 0 0 8278000 8278000 0 111501000 31569000 79932000 0 0 0 0 0 66638000 54129000 12509000 0 1910000 0 1910000 102629000 0 0 Venture Capital 39060000 F Notes Receivable 12860000 F Real Estate Investment Trust 8040000 F Commodities 6508000 F Hedge Funds 2092000 F 68560000 Fixed Income investment limited by Bond Agreement 8968000 F Annuities 1052000 F 10020000 0 Line of Credit Facility 30930000 Bond Rebate Fund 387000 Capital Lease Payable 224000 31541000 106997662 105824180 1173482 8331464 0 0 0 9942055 18273519 19447001 107111000 8331464 0 0 -8218126 113338 106997662 0 0 0 106997662 87664000 0 0 0 -832628 -832628 88496628 0 17327552 17327552 105824180 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The University's endowments consist of approximately 113 individual funds established for a variety of purposes all relating to the University's overall excempt purpose of educating students. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The University does not believe its consolidated financial statements include any uncertain tax positions. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Add back $9,109,000 Regent Foundation - files a separate 990. Add back $833,000 - Henrico Inc - files a separate 990. Add $55 rounding adjustment. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Add back institutional scholarships od $17,327 552. This amount is added to expenses. Subtract $9,109,000 - Regent Foundation - files a separate 990. Subtract rounding adjustment of $426. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Subtract $833,000 - Henrico, Inc - files a separate 990. Add back $372 rounding adjustment. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Add institutional scholarships of $17,327,552 - 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 Scholarships for students attending the various schools of Regent University. 4597 17327552 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 M G Robertson 0 0 0 0 2029 22229 0 0 0 117767 2029 139996 0 Carlos A Campo 269090 0 0 0 0 0 2917 0 22867 0 294874 0 0 0 Louis A Isakoff 285007 0 0 0 0 0 2861 0 28793 0 316661 0 0 0 Tracy R Stewart 208408 0 0 0 0 0 2000 0 28467 0 238875 0 0 0 Ann R LeBlanc 106953 0 0 0 0 0 2000 0 15131 0 124084 0 0 0 Martha J Smith 142650 0 0 0 8650 0 1470 0 20446 0 173216 0 0 0 Jeffrey S Pittman 143504 0 0 0 0 0 1475 0 20312 0 165291 0 0 0 Dean A Wooten 140892 0 0 0 0 0 1470 0 21714 0 164076 0 0 0 Sherry R Stocks 131823 0 0 0 0 0 1331 0 14063 0 147217 0 0 0 Alfred P Rovai 129567 0 0 0 0 0 1250 0 11014 0 141831 0 0 0 Jeffrey A Brauch 243764 0 0 0 0 0 2416 0 23846 0 270026 0 0 0 Bruce E Winston 178888 0 0 0 0 0 1599 0 20973 0 201460 0 0 0 Douglas H Cook 177304 0 0 0 0 0 1428 0 27758 0 206490 0 0 0 John E Mulford 172002 0 0 0 0 0 1765 0 22362 0 196129 0 0 0 David J Gyertson 166361 0 0 0 0 0 1639 0 25222 0 193222 0 0 0 Salvatore R Iaquinto 177502 0 0 0 0 0 1800 0 11474 0 190776 0 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 99473248 8544084 0 66845955 1142743 0 0 22970466 0 0 2007 0 1 1 1 0 0 1 0 1 0.01 0 0.01 1 1 0 0 1 Wachovia Bank NA 30 1 0 0 Robertson Charitable Remainder Trust ???? X 6000000 5076000 0 1 1 5076000 SchL_P02_S00_L00 Schedule L, Part II Purpose for loan to Robertson Charitable Remainder Trust - to provide working capital. X 1 29430 Valuation at date 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, board member, 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 with 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 date from an independent source, reviewing the data to ensure that the compensation is reasonable and contemporaneous substantiation of the deliberation and decision making process. Furthermore, when Regent University hires a new officer 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, conflict of interest policy, audited financial statements and the 990 tax form for the University are available upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Add back unrealized gain taken on Regent Foundation prior year - $4,045,000. Reflected on Regent Foundation in current year on separate 990. Subtract rounding adjustment of $482. Founders Conference Center LLC 1000 Regent University Dr Virginia Beach VA 23464 541992893 Hospitality Services VA 9833000 3841000 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 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 Henrico Inc j 1100000 Henrico Inc p 1100000