2021-05-11T09:40:36-07:00 2020-06-30 990 2019-07-01 541061178 REGENT UNIVERSITY REGE 7573524050 1000 Regent University Drive Virginia Beach VA 23464 Stephen Bruce VP of Business Administration 7573524429 2021-05-11 2019 2022-09-23 18:48:47Z Stephen Bruce 1000 Regent University Drive Virginia Beach VA 23320 242936677 0 X www.regent.edu X 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. 15 14 1772 19 8168 -2031590 7024015 2580035 140901386 141492682 2769031 1751947 309600 275405 151004032 146100069 25436885 23848767 0 0 67335268 62711389 0 0 1613267 55525839 54960539 148297992 141520695 2706040 4579374 197098757 198531120 144022494 141566189 53076263 56964931 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 115305488 0 132688877 Instruction - Schools of Communication & the Arts, Business & Leadership, Education, Psychology & Counseling, Divinity, Law, Government and College of Arts and Sciences and College of Health Care Sciences. Includes Academic Support, Student Services, Scholarships, Auxiliaries & Academic Affairs. 1,365 Graduate degrees, 659 Undergraduate degrees, 152 First Professional degrees and 38 Associate degrees were awarded in 2019-2020. (10,561 students) 7893302 0 8803805 Hospitality Services - Hotel and conference center providing conference services, food and beverage services, banquets and other various hospitality services. 0 0 0 123198790 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 1 0 1 1 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 1 0 0 1 14783 0 1 1772 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 15 14 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK MD NH NY OH OK VA WA X Regent University Business Office 7573524059 1000 Regent University Dr Virginia Beach VA 23464 Mark D Martin Dean/Professor - Law School 40 0 X 361962 0 23137 Gerson Moreno-Riano Executive Vice President for Academic Affairs 40 0 X 336676 0 40026 Louis A Isakoff Vice President and General Counsel 40 0 X 321695 0 42147 M G Robertson Chancellor-CEO 20 20 X X 0 6735 299656 Sherri R Miller Former Vice President for University Marketing 40 0 X 276193 0 25264 Martha J Smith Vice President for Human Resources & Administration 40 0 X 254207 0 32522 Joseph Umidi Executive Vice President for Student Life 40 0 X 238831 0 23836 Doris Gomez Dean - Business 40 0 X 203894 0 31814 John E Mulford Professor - Business 40 0 X 191461 0 27245 William L Hathaway Dean - Psychology/Counseling 40 0 X 186884 0 30703 Dean A Wooten Former Vice President for Finance 40 0 X 180442 0 29454 Marion R Warren Professor - Law 40 0 X 167610 0 16881 Stephen Bruce Vice President for Business Administration 40 0 X 157524 0 25843 Ann R LeBlanc Vice President on Special Assignment 40 0 X 119793 0 31370 Dorothy C Foster Vice President for Univ Marketing & Public Relations 40 0 X 90308 0 28154 Dianne Cash Board Member 1 0 X 0 0 0 Chauncey W Crandall Board Member - Vice Chairman 1 0 X 0 0 0 William Federer Board Member 1 0 X 0 0 0 Thomas J Knox Jr Board Member - Secretary 1 0 X 0 0 0 Howard Long Board Member 1 0 X 0 0 0 William Maynard Board Member 1 0 X 0 0 0 David Melilli Board Member 1 0 X 0 0 0 G Conoly Phillips Board Member 1 0 X 0 0 0 Jay A Sekulow Board Member 1 0 X 0 0 0 Daniel C Sellers Jr Board Member 1 0 X 0 0 0 Magda Serrano Board Member 1 0 X 0 0 0 Robert O Snelling Sr Board Member 1 0 X 0 0 0 Phillip D Walker Board Member - Chairman 1 0 X 0 0 0 Jennifer Whitelaw Board Member 1 0 X 0 0 0 3087480 6735 708052 80 1 1 0 Google Inc Dept 33654 PO Box 39000 San Francisco CA 94139 Advertising Services 7505040 Christian Broadcasting Network 977 Centerville Turnpike Virginia Beach VA 23464 Facility Services/Security 3288741 Facebook Inc 15161 Collections Center Dr Chicago IL 60693 Advertising Services 3015846 Becker Media Inc 144 Linden St Oakland CA 94607 Marketing Services 2729151 Double Positive Marketing Group 62865 Collection Center Dr Chicago IL 606930628 Advertising Services 1748338 31 0 0 0 0 117250 2462785 19882 2580035 Tuition and fees 611310 127718455 127718455 0 0 Hotel Food and Beverage 721110 8803805 8803805 0 0 Sales and Services - Auxiliary 611710 4343721 4343721 0 0 Sales and Services - Education 611710 13545 13545 0 0 Miscellaneous 611710 613156 613156 0 0 0 0 0 0 141492682 1325902 0 5151 1320751 7211 0 0 7211 34858 0 0 34858 3017 0 0 0 3017 0 3017 0 3017 0 97255442 0 96836608 0 418834 0 418834 0 0 418834 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Bookstore Commissions 451211 282622 282622 0 0 Change value split interest agreement 523999 -45092 0 0 -45092 0 0 0 0 237530 146100069 141775304 8168 1736562 0 0 23835747 23835747 13020 13020 0 0 2028968 652754 1376214 0 0 0 0 0 48647709 41029403 7044618 573688 762217 629675 122077 10465 7555674 8707156 -1284503 133021 3716821 3055479 619117 42225 0 0 0 0 71035 29073 38577 3385 130800 0 130800 0 0 0 0 0 0 0 0 0 0 0 5168482 2985912 1539819 642751 20114922 19600798 514009 115 1892828 1103072 731487 58269 4674847 2347328 2327513 6 11960 11960 0 0 10504079 9567286 888750 48043 475203 391390 61148 22665 0 0 0 0 25044 22723 2321 0 637275 573442 63833 0 0 0 0 0 6648962 5865985 722346 60631 507543 34050 473493 0 Hotel Services and Support 2004906 1423808 581098 0 Repairs and maintenance of equipment 1268006 590373 677433 200 Hospitality 253671 203217 36614 13840 Miscellaneous 570976 525139 41874 3963 141520695 123198790 16708638 1613267 60322 45662 4381024 10166172 0 0 4197350 4587122 0 0 0 0 0 0 122567 119216 948608 722908 226973225 137446651 95092539 89526574 78019047 78823078 4240220 4295867 10037080 10244521 0 0 197098757 198531120 11818634 13795635 0 0 10237234 10511223 84490646 83759331 0 0 37475980 33500000 0 0 0 0 144022494 141566189 X 27746201 31696748 25330062 25268183 53076263 56964931 197098757 198531120 4579374 0 0 0 -690706 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82124000 73000 790000 0 0 0 82987000 80172000 174000 1778000 0 0 0 82124000 101071000 385000 4216000 0 25500000 0 80172000 105890000 146000 11035000 0 16000000 0 101071000 138093000 423000 -16126000 0 16500000 0 105890000 0.72 0.27 0.01 0 0 0 8277883 8277883 0 132601799 62573599 70028200 0 0 0 0 0 84687530 74873052 9814478 0 1406013 0 1406013 89526574 Annuities 1649346 F Fixed Income Bonds 8595175 F 10244521 0 X 122163000 198336 0 0 -818000 -619664 122782664 0 23317405 23317405 146100069 119247061 0 0 0 1043000 1043000 118204061 0 23316634 23316634 141520695 Schedule D, Part V, Line 4 Regent University's endowment consists of approximately 115 individual funds established for a variety of purposes all relating to the University's overall purpose of educating students. Schedule D, Part X, Line 2 Regent University does not believe its consolidated financial statements include any uncertain tax positions. Schedule D, Part XI, Line 2d Subtract $70,000 revenue attributable to Frio Energy which is reflected on a separate tax return. Add back the change in unrealized loss on Frio Energy of $888,000 which is also reflected on a separate tax return. Schedule D, Part XI, Line 4b Add institutional scholarships of $23,317,703 which are included in expenses on the 990 but as a reduction of revenue on the financial statements for Regent University. Subtract $299 due to rounding. Schedule D, Part XII, Line 2d Subtract $845,000 expenses for Henrico, Inc. which is reflected on a separate tax return. Subtract $198,000 expenses for Frio Energy which are reflected on a separate tax return. Schedule D, Part XII, Line 4b Add institutional scholarships of $23,317,703 which are included in expenses for the 990 but as a reduction of revenue on the financial statements for Regent University. Subtract $1,069 due to rounding. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Advertisements soliciting registration of new students include a summary statement of the non-discriminatory policy of the university. Internship program East Asia and the Pacific 9 13020 Wire Transfer 0 FMV 0 0 0 0 0 0 1 Scholarships for students at Regent University. 7419 23756082 0 FMV Cash stipends given to student interns working with legal organizations combating human sex trafficking and other human rights issues. 30 76000 0 FMV Various cash stipends given to students from restricted funds for specific student groups. 11 3665 0 FMV Schedule I, Part I, Line 2 Regent University awards financial aid to students based on certain eligibility requirements. The University's financial aid packages are on file at the University and are available upon request. X X 1 1 X 1 0 0 0 0 0 0 1 0 Gerson Moreno-Riano Executive Vice President for Academic Affairs 265440 0 71236 0 0 0 6760 0 33266 0 376702 0 0 0 Louis A Isakoff Vice President and General Counsel 321695 0 0 0 0 0 7973 0 34175 0 363843 0 0 0 Martha J Smith Vice President for Human Resources & Administration 218892 0 35315 0 0 0 5305 0 27217 0 286729 0 0 0 Joseph Umidi Executive Vice President for Student Life 204245 0 34586 0 0 0 3196 0 20640 0 262667 0 0 0 Stephen Bruce Vice President for Business Administration 157524 0 0 0 0 0 40280 0 21815 0 219619 0 0 0 Ann R LeBlanc Vice President on Special Assignment 119793 0 0 0 0 0 3125 0 28245 0 151163 0 0 0 Dorothy C Foster Vice President for Univ Marketing & Public Relations 90308 0 0 0 0 0 2133 0 26020 0 118461 0 0 0 Mark D Martin Dean/Professor - Law School 325962 0 36000 0 0 0 5760 0 17377 0 385099 0 0 0 Doris Gomez Dean - Business 203894 0 0 0 0 0 5244 0 26570 0 235708 0 0 0 John E Mulford Professor - Business 191461 0 0 0 0 0 4824 0 22422 0 218707 0 0 0 William L Hathaway Dean - Psychology/Counseling 186884 0 0 0 0 0 4606 0 26096 0 217586 0 0 0 Marion R Warren Professor - Law 167610 0 0 0 0 0 3000 0 13881 0 184491 0 0 0 Sherri R Miller Former Vice President for University Marketing 226011 0 50182 0 0 0 5626 0 19638 0 301457 0 0 0 Dean A Wooten Former Vice President for Finance 180442 0 0 0 0 0 0 0 29454 0 209896 0 0 0 Schedule J, Part I, Line 1a First class or charter travel: To facilitate its 24 hours security coverage for Dr. Robertson, Regent University provides charter air service for his business and personal flights. The University reports taxable income for Dr. Robertson's personal flights on his form 1099. It uses the Standard Industry Fair Level (SIFL) method as allowed under IRS rules for valuing personal flights. Dr. Robertson did not have an personal flights in FY 2020 and therefore did not receive a 1099 from Regent University. Travel for Companions: Regent University does not provide companion air travel for non-business purposes. Housing allowance: Regent University provides a ministerial housing allowance for qualified faculty and staff. This is reviewed and approved by the board. Schedule J, Part I, Line 3 Regent University regularly reviews the compensation of its officers and vice presidents to determine whether compensations 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 along with all officers and vice presidents. This process includes 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 takes place. Furthermore, when Regent University hires a new officer or vice president, it will ensure that all compensation is reasonable compared to similar positions of responsibility at other institutions. Schedule J, Part I, Line 4 The Vice President of Finance was released from his position in April 2019 and received a severance package for one year. Schedule J, Part I, Line 7 Any non-fixed payments were figured based on employees meeting performance goals. 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 6845955 1142743 0 0 22970466 0 0 2077 0 1 1 1 A 0 0 1 1 0 0.01 0 0.01 0 0 1 A 1 0 0 1 Wachovia Bank NA 30 1 0 1 Ruby Moreno Family of Exec VP for Academic Affairs 55001 Employee Compensation 0 Jacqueline Moreno Family of Exec VP for Academic Affairs 14879 Employee Compensation 0 Form 990, Part VI, Section A, Line 2 Jay Sekulow, board member, works for an organization founded by MG Pat Robertson, Chancellor and CEO of Regent University. Ann LeBlanc, serves as Vice President on Special Assignment for Regent University and is the daughter of MG Pat Robertson, Chancellor and CEO of Regent University. 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. Form 990, Part VI, Section B, Line 12c The conflict of interest policy is regularly reviewed and consulted. The University requires its officers, directors, trustees and key employees to complete a conflict of interest questionnaire and statement on a regular basis. If any conflict is noted, the officer, director or trustee will recuse themselves from voting during board meetings. Form 990, Part VI, Section B, Line 15 Regent University regularly reviews the compensation of its officers and vice presidents to determine whether compensation is reasonable compared to similar positions of responsibility at other institutions. The Compensation Committee of the Board of Trustees (in absence of the Compensation Committee, the Audit Committee will assume this role) will periodically conduct an independent review of compensation which includes the President, along with all officers and vice presidents. This process includes 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 vice president, it will ensure that all compensation is reasonable compared to similar positions of responsibility at other institutions. 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. Founders Conference Center LLC 1000 Regent University Dr Virginia Beach VA 23464 541992893 Hospitality Services VA 9115000 4420000 Regent University Regent University Foundation 1000 Regent University Dr Virginia Beach VA 23464 204273074 Support Regent University VA 501(c)3 5 Regent University 1 Henrico Inc 1000 Regent University Dr Virginia Beach VA 23464 541998119 Title Holding Co VA 501(c)2 Regent University 1 The Christian Broadcasting Network Inc 977 Centerville Turnpike Virginia Beach VA 23464 540678752 Broadcasting VA 501(c)(3) N/A 0 Frio Energy Inc 977 Centerville Turnpike Virginia Beach VA 23463 611693385 Oil and Gas production NV Regent University C 1 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 Henrico Inc j 1100000 FMV Henrico Inc p 1100000 FMV The Christian Broadcasting Network Inc c 17687 FMV Extension was filed and approved for May 15, 2021.