2011-05-10T15:29:51-07:00 2010-06-30 990 2009-07-01 541061178 REGENT UNIVERSITY REGE 7573524050 1000 Regent University Drive Virginia Beach VA 23464 Dean Wooten 7573524050 2011-05-11 2009 2016-02-24 21:20:13Z Dean Wooten 1000 Regent University Virginia Beach VA 23320 194953080 0 X www.regent.edu X Educational institution 1977 VA Bachelor and Graduate Level Education 25 20 1500 16 9756359 0 2559563 5212069 59931532 69841478 -12926250 6684309 10528453 9746466 60093298 91484322 11282297 14594833 0 0 51805799 47954023 0 0 3287182 37465113 36107354 100553209 98656210 -40459911 -7171888 319141000 305310000 133094000 131109000 186047000 174201000 Bachelor and Graduate Level Education 0 0 75176726 14187487 0 Instruction - Schools of Communication and the Arts, Global Leadership & Entrepreneurship, Education, Psychology & Counseling, Divinity, Law, Government and Undergraduate Studies. Includes Academic Support, Student Services, Scholarships, Academic Affairs. 741 Graduate degrees and 297 Undergraduate degrees were awarded in 2009-2010. (4,886 students) 5799062 0 0 Hospitality Services - Hotel and conference center providing conference services, food and beverage services, banquets and other various hospitality services. 0 0 0 80975788 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 6456 0 1 1500 1 1 1 0 0 0 0 25 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR AZ KY MD NH 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 103000 0 0 Chauncey Crandall 1 X 0 0 0 Roberta E Eldred 1 X 0 0 0 William J Federer 1 X 0 0 0 Jim L Funari 1 X 0 0 0 Joseph R Gregory 1 X 0 0 0 Roberta P Hromas 1 X 0 0 0 Kay Peng Khoo 1 X 0 0 0 Michael D Little 1 X 0 323895 41281 Howard W Long 1 X 0 0 0 Tamara A Lowe 1 X 0 0 0 William Maynard 1 X 0 0 0 Cheryl McLeskey 1 X 0 0 0 David V Mellili 1 X 0 0 0 Lowell W Morse 1 X 0 0 0 G Conoly Phillips 4.00 X 0 0 0 Adelia E Robertson 1 X 0 0 0 Thomas Saltsgiver 1 X 0 0 0 Jay A Sekulow 1 X 0 0 0 Daniel C Sellers 1 X 0 0 0 Magda M Serrano 1 X 0 0 0 Robert O Snelling Sr 1 X 0 0 0 Robert Watkins 1 X 0 0 0 Dr MG Pat Robertson 25 X X 913 13789 74159 Louis A Isakoff 40 X 285324 0 28441 Tracy R Stewart 40 X 221874 0 27031 Dean A Wooten 40 X 141130 0 20924 Jeffrey S Pittman 40 X 144210 0 19390 Martha J Smith 40 X 154948 0 19576 Sherri Stocks 40 X 132094 0 13921 Carlos A Campo 40 X 248918 0 21582 Ann LeBlanc 40 X 0 113714 20671 Jeffery A Brauch 40 X 240159 0 22989 John E Mulford 40 X 172143 0 21468 Bruce Winston 40 X 170183 0 15767 David J Gyertson 40 X 166544 0 23325 Alan A Arroyo 40 X 163670 0 19798 Salvatore Iaquinto 40 X 180966 0 11497 Maureen C Uncapher 0 X 229867 0 21939 Randall Pannell 40 X 123197 0 19033 2879140 451398 442792 55 1 1 0 Tocquigny Design Inc 401 Congress Ave Austin TX 78701 Marketing Services 4042965 Christian Broadcasting Network 977 Centerville Turnpike Virginia Beach VA 23464 Facility Services 3216087 Royall & Company 1920 E Parham Rd Richmond VA 23228 Marketing Services 326840 Law and Justice Institute 201 Maryland Ave Northeast Washington DC 20002 Educational Services 270000 Hammond Associates 101 South Hanley Road Third Floor St Louis MO 63105 Investment Services 265080 14 0 0 0 0 184478 5027591 21434 5212069 Tuition and Fees 611310 64299980 64299980 0 0 Sales and Services - Auxiliary 611710 4738004 0 0 4738004 Misc Educational Revenue 611710 43521 0 0 43521 Sales and Services - Educational 611710 759973 0 0 759973 0 0 0 0 69841478 2571321 0 218113 2353208 0 0 0 0 207560 0 0 207560 26909 0 0 0 26909 0 26909 0 26549 360 107581746 0 103468758 0 4112988 0 4112988 0 0 4112988 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Hotel Services 721110 5388131 0 5388131 0 Food & Beverage (Caterers) 722320 3985769 0 3985769 0 Bookstore Commissions 451211 137797 0 137797 0 300 0 0 300 9511997 91484322 64299980 9756359 12215914 0 0 14594833 14594833 1505536 441602 1053332 10602 0 0 0 0 38455588 32102458 4779321 1573809 319186 220076 99110 0 5114705 7535145 -2849242 428802 2559008 2115021 331285 112702 241726 0 241726 0 78122 9086 65054 3982 159135 0 159135 0 0 0 0 0 0 0 0 0 0 0 2702675 1663087 614893 424695 5204141 4757914 444272 1955 2669706 1792113 595132 282461 1757812 1078540 675624 3648 17438 17438 0 0 9882009 4767313 5091345 23351 1358227 1066329 138513 153385 0 0 0 0 46085 44199 1533 353 469187 0 469187 0 0 0 0 0 5234086 4000035 1196119 37932 339686 34457 292952 12277 Repair & Maintenance of Equipment 483332 342092 141135 105 Bad Debt Expense 298973 150675 60003 88295 Hospitality 603918 430962 47564 125392 Restrictions Relieved 1757244 1623209 134035 0 Hotel Services & Support 1950525 1786017 164508 0 853327 403187 446704 3436 98656210 80975788 14393240 3287182 154000 67000 1129000 1096000 1633000 3675000 1919000 1265000 0 0 0 0 0 0 439000 453000 1004000 1072000 183853000 80397000 105790000 103456000 93447000 93223000 103663000 91246000 9963000 9757000 0 0 319141000 305310000 7924000 8414000 0 0 540000 586000 90189000 89727000 0 0 0 0 0 0 0 0 34441000 32382000 133094000 131109000 X -8479000 149503000 82528000 7287000 111998000 17411000 186047000 174201000 319141000 305310000 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 188110000 331000 -2947000 0 15000000 0 170494000 276050000 597000 -66037000 0 22500000 0 188110000 0.89 0.1 0.01 0 0 0 8278000 8278000 0 111403000 29001000 82402000 0 0 0 0 0 63424000 51396000 12028000 0 748000 0 748000 103456000 0 0 Venture Capital 42797000 F Real Estate Investment Trust 13284000 F Fixed Income Note Receivable 12860000 F Oil & Gas Investment 10000000 C Commodities 6481000 F Hedge Funds 5824000 F 91246000 Fixed Income Investment Limited by Bond Agreement 9005000 F Annuities 752000 F 9757000 0 Line of Credit Facility 31601000 Bond Rebate Fund 387000 Capital Lease Payable 394000 32382000 91484322 98656210 -7171888 -9539000 0 0 0 853888 -8685112 -15857000 67429000 -9539000 0 0 -14516322 -24055322 91484322 0 0 0 91484322 83286000 0 0 0 -775378 -775378 84061378 0 14594832 14594832 98656210 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The University's endowments consist of approximately 109 individual funds established for a variety of purposes all relating to the University's overall exempt purpose of educating students. SchD_P10_S00_L00 Schedule D, Part X 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. 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 $80,000 - Regent Foundation - files a separate 990. Add back $832,000 - Henrico, Inc - files a separate 990. Less losses on uncollectible contributions receivable - $137,000. Add back change in value of split-interest agreement - $81,000. Less rounding adjustment of $2,112. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Add back institutional scholarships of $14,594,832 - added to expenses. Less $80,000 - Regent Foundation - files separate 990. Plus rounding adjustment of $1,490. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Less $832,000 - Henrico Inc - files a separate 990. Add back $137,000 - loss on uncollectible contributions receivable. Less $81,000 - change of value for split-interest agreement. Add back rounding adjustment of $622. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Add institutional scholarships of $14,594,432 - included in expenses on 990. 1 1 1 Advertisements soliciting registration of new students include a summary statement of the non-discriminatory policy of the University. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 Scholarships for students attending the various schools of Regent University. 3947 14594833 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 1 0 0 0 0 0 0 0 0 Dr MG Pat Robertson 913 13789 0 0 0 0 0 0 0 74159 913 87948 0 0 Louis A Isakoff 285324 0 0 0 0 0 0 0 28441 0 313765 0 0 0 Tracy R Stewart 221874 0 0 0 0 0 0 0 27031 0 248905 0 0 0 Salvatore Iaquinto 180966 0 0 0 0 0 0 0 11497 0 192463 0 0 0 Dean A Wooten 141130 0 0 0 0 0 0 0 20924 0 162054 0 0 0 Jeffrey S Pittman 144210 0 0 0 0 0 0 0 19390 0 163600 0 0 0 Martha J Smith 154948 0 0 0 0 0 0 0 19576 0 174524 0 0 0 Sherri Stocks 132094 0 0 0 0 0 0 0 13921 0 146015 0 0 0 Carlos A Campo 248918 0 0 0 0 0 0 0 21582 0 270500 0 0 0 Jeffery A Brauch 240159 0 0 0 0 0 0 0 22989 0 263148 0 0 0 John E Mulford 172143 0 0 0 0 0 0 0 21468 0 193611 0 0 0 Bruce Winston 170183 0 0 0 0 0 0 0 15767 0 185950 0 0 0 David J Gyertson 166544 0 0 0 0 0 0 0 23325 0 189869 0 0 0 Alan A Arroyo 163670 0 0 0 0 0 0 0 19798 0 183468 0 0 0 Maureen C Uncapher 229867 0 0 0 0 0 0 0 21939 0 251806 0 0 0 Randall Pannell 123197 0 0 0 0 0 0 0 19033 0 142230 0 0 0 Ann LeBlanc 0 113714 0 0 0 0 0 0 0 20671 0 134385 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. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Maureen Uncapher received a severance package per a Separation and Release agreement. Virginia College Building Authority 541249154 927781BS2 2006-08-09 99473248 Refunding of existing bonds (June 01) and construction of dorms 0 0 99473248 8544084 66815955 0 1142743 0 22970466 2007 0 1 1 1 0 0 1 0 1 0.01 0 0.01 1 0 0 0 1 Wachovia Bank NA 30 1 0 0 F990_P00_S00_L0K Form 990, Header, Line K Part IV, Question 4a - Proceeds were invested in a second GIC - Bayerische Landesbank for 1.25 years. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 MG Pat Robertson, President 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, President. Lowell Morse, board member, works as an independent contractor for an organization founded by MG Pat Robertson, President. Michael Little, board member, works for an organization founded by MG Pat Robertson, President. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 The 990 is sent as a PDF file to all the 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 statment 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 employes to determine whether compensation is reasonable compared to similar positions of responsibility. The Compensation Committee of the Board of Trustees (in the absence of the Compensation Committee, the Audit Committee will assume this role) will preriodically 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. 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. Founder Conference Center LLC 1000 Regent University Dr Virginia Beach VA 23464 541992893 Hospitality Services VA 9943000 4184000 Regent University Regent University Foundation 1000 Regent University Dr Virginia Beach VA 23464 204273074 Investments to further the purposes of RU VA 501(c)3 5 N/A Henrico Inc 1000 Regent University Dr Virginia Beach VA 23464 541998119 Wholly owned title holding company 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