Regent University
- Assets
- $198.5m
- Revenue
- $146.1m
- Investments
- $4.3m
- Employees
- 1,656
- Location
- Virginia Bch, VA
- Founding
- 08/1978
- Data as of
- 06/2020
- EIN
- 54-1061178
Organization Overview
Regent University is located in Virginia Bch, VA. The organization was established in 1978. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Regent University employed 1,656 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regent University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Regent University generated $146.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $141.5m during the year ending 06/2020. While expenses have increased by 0.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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. 1,162 GRADUATE DEGREES, 678 UNDERGRADUATE DEGREES, 177 FIRST PROFESSIONAL DEGREES AND 34 ASSOCIATE DEGREES WERE AWARDED IN 2020-2021. (10,386 STUDENTS)
HOSPITALITY SERVICES - HOTEL AND CONFERENCE CENTER PROVIDING CONFERENCE SERVICES, FOOD AND BEVERAGE SERVICES, BANQUETS AND OTHER VARIOUS HOSPITALITY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark D Martin Dean/professor - Law School | 40 | $377,622 | |
Louis A Isakoff Vice President And General Counsel | Officer | 40 | $322,147 |
Gerson Moreno-Riano Executive Vice President For Academic Affairs | Officer | 40 | $264,006 |
Martha J Smith Vice President For Human Resources & Administration | Officer | 40 | $219,163 |
Joseph Umidi Executive Vice President For Student Life | Officer | 40 | $209,114 |
Doris Gomez Dean - Business | 40 | $204,118 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Christian Broadcasting Network Facility Services/security | 6/29/21 | $3,242,262 |
Facebook Inc Advertising Services | 6/29/21 | $1,716,842 |
Microsoft Online Inc Advertising Services | 6/29/21 | $1,401,592 |
Eab Marketing Consultants | 6/29/21 | $1,190,238 |
Google Inc Advertising Services | 6/29/21 | $7,676,986 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,580,035 |
| Investment income | $1,325,902 |
| Tax Exempt Bond Proceeds | $7,211 |
| Royalties | $34,858 |
| Net Rental Income | $3,017 |
| Net Gain/Loss on Asset Sales | $418,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $146,100,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $23,835,747 |
| Grants and other assistance to Foreign Orgs/Individuals | $13,020 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,028,968 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,647,709 |
| Pension plan accruals and contributions | $762,217 |
| Other employee benefits | $7,555,674 |
| Payroll taxes | $3,716,821 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,035 |
| Fees for services: Accounting | $130,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,168,482 |
| Advertising and promotion | $20,114,922 |
| Office expenses | $1,892,828 |
| Information technology | $4,674,847 |
| Royalties | $11,960 |
| Occupancy | $10,504,079 |
| Travel | $475,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,044 |
| Interest | $637,275 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,648,962 |
| Insurance | $507,543 |
| All other expenses | $0 |
| Total functional expenses | $141,520,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,662 |
| Savings and temporary cash investments | $10,166,172 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,587,122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $119,216 |
| Prepaid expenses and deferred charges | $722,908 |
| Investments—publicly traded securities | $78,823,078 |
| Investments—other securities | $4,295,867 |
| Investments—program-related | $10,244,521 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $198,531,120 |
| Accounts payable and accrued expenses | $13,795,635 |
| Grants payable | $0 |
| Deferred revenue | $10,511,223 |
| Tax-exempt bond liabilities | $83,759,331 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $33,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $141,566,189 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $56,964,931 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Regent University has recieved totaling $2,600.
| Awarding Organization | Amount |
|---|---|
Daughters Of Union Veterans Of The Civil War-D C Dept-E S Mussey Tent Mitchellville, MD PURPOSE: EDUCATIONAL SCHOLARSHIP FOR CHRISTINA STURGEON | $1,600 |
Bayport Foundation Newport News, VA PURPOSE: SCHOLARSHIPS | $1,000 |
Endowment Analysis
| Beg. Balance | $82,987,000 |
| Earnings | $16,802,000 |
| Admin Expense | $32,000,000 |
| Net Contributions | $324,000 |
| Ending Balance | $68,113,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Health Sciences Winstonsalem, NC | $4,063,609,787 | $629,827,374 |
Edward Via Virginia College Of Osteopathic Medicine Blacksburg, VA | $145,957,395 | $234,038,935 |
Meharry Medical College Nashville, TN | $412,525,133 | $200,654,112 |
Regent University Virginia Bch, VA | $198,531,120 | $146,100,069 |
Wake Forest University Health Sciences Group Return Winstonsalem, NC | $294,523,544 | $56,430,791 |
Asbury Theological Seminary Wilmore, KY | $333,796,449 | $52,800,131 |
Southern College Of Optometry Memphis, TN | $90,101,083 | $28,598,801 |
Johnson University Knoxville, TN | $236,951,483 | $27,596,664 |
Urban Teacher Center Baltimore, MD | $9,319,490 | $29,990,040 |
American Dental Education Association Washington, DC | $38,625,802 | $28,825,564 |
Baptist Memorial College Of Health Sciences Inc Memphis, TN | $55,747,053 | $20,446,298 |
The Chicago School-Washington Dc Inc Washington, DC | $8,957,032 | $17,481,521 |