Regent University 
The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 10/12/2020. To update the information in this column, please email: info@ministrywatch.com
Summary
Regent University is one of the nation's leading academic centers for Christian thought and action.
Contact information
Mailing address:
Regent University
1000 Regent University Drive
Virginia Beach, VA 23464
Website: regent.edu
Phone: 757-226-2075
Email: admissions@regent.edu
Organization details
EIN: 541061178
CEO/President: Stephen Bruce
Chairman: Phil Walker
Board size: 15
Founder: Pat Robinson
Year founded: 1978
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 1989
Purpose
Our vision is to be the most influential, Christian, transformational university in the world. From its inception, Regent University's focus has been on transforming the world. The motto of the school, Christian Leadership to Change the World, points to our desire to impact lives across the globe. Regent is accomplishing this vision by consistently delivering excellent graduate and undergraduate programs both online and on campus in order to prepare Christian leaders for lives of significant purpose and service. With the university's stature as an institution of excellence ever increasing, we humbly but expectantly move to an even higher level of academic quality and global influence.
Mission statement
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.
Statement of faith
Regent University is a Christ-centered institution. The board of trustees, along with the faculty and staff of the university, is committed to an evangelical interpretation and application of the Christian faith. The campus community is closely identified with the present-day renewal movement, which emphasizes the gifts, fruit and ministries of the Holy Spirit. All employees are expected to understand and adhere to the following articles of belief: That the Holy Bible is the inspired, infallible and authoritative source of Christian doctrine and precept. That there is one God, eternally existent in three persons: Father, Son and Holy Spirit. That man was created in the image of God but, as a result of sin, is lost and powerless to save himself. That the only hope for man is to believe on the Lord Jesus Christ, the virgin-born Son of God, who died to take upon Himself the punishment for the sin of mankind, and who rose from the dead so that by receiving Him as Savior and Lord, man is redeemed by His blood. That Jesus Christ will personally return to earth in power and glory. That the Holy Spirit indwells those who receive Christ for the purpose of enabling them to live righteous and holy lives. That the Church is the Body of Christ and is composed of all those who through belief in Christ have been spiritually regenerated by the indwelling Holy Spirit. The mission of the Church is worldwide evangelism and the nurturing and discipling of Christians.
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 392 of 911 | 48 of 111 |
| Fund acquisition rating | | 632 of 913 | 83 of 111 |
| Resource allocation rating | | 349 of 913 | 40 of 111 |
| Asset utilization rating | | 296 of 911 | 29 of 111 |
Financial ratios
| Funding ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 15% | 63% | 21% | 141% | 143% | 120% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 2% | 2% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 13% | 2% | 5% | 1% | 1% | 2% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 1% | 1% | 1% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 87% | 98% | 95% | 99% | 99% | 98% |
| Operating ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 87% | 88% | 88% | 87% | 82% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 97% | 98% | 112% | 119% | 116% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 84% | 87% | 99% | 104% | 95% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 3% | 2% | -12% | -19% | -16% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | 8% | 5% | -31% | -29% | -19% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 12% | 11% | 11% | 11% | 16% |
| Investing ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.71 | 0.75 | 0.84 | 0.67 | 0.59 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.73 | 2.10 | 2.25 | 2.77 | 2.59 | 2.49 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.62 | 1.50 | 1.69 | 2.32 | 1.74 | 1.47 |
| Liquidity ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Current ratio Current ratio = Total current assets / Total current liabilities | 6.08 | 3.89 | 3.98 | 5.53 | 6.02 | 7.20 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.16 | 0.26 | 0.25 | 0.18 | 0.17 | 0.14 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 5.95 | 5.95 | 5.31 | 4.24 | 5.73 | 7.03 |
| Solvency ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 27% | 71% | 73% | 70% | 63% | 59% |
Debt ratio Debt ratio = Debt / Total assets | 16% | 59% | 62% | 64% | 57% | 53% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 139% | 40% | 36% | 36% | 55% | 70% |
Financials
| Balance sheet | |||||
| Assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Cash | $10,211,834 | $4,441,346 | $2,077,638 | $1,313,616 | $1,129,862 |
| Receivables, inventories, prepaids | $5,429,246 | $5,268,525 | $1,325,319 | $2,715,394 | $9,601,661 |
| Short-term investments | $78,823,078 | $78,019,047 | $66,281,374 | $79,773,424 | $80,600,302 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $94,464,158 | $87,728,918 | $69,684,331 | $83,802,434 | $91,331,825 |
| Long-term investments | $14,540,388 | $14,277,300 | $23,952,699 | $31,114,160 | $31,824,192 |
| Fixed assets | $89,526,574 | $95,092,539 | $99,110,075 | $102,380,202 | $104,063,840 |
| Other long-term assets | $0 | $0 | $0 | $0 | $0 |
| Total long-term assets | $104,066,962 | $109,369,839 | $123,062,774 | $133,494,362 | $135,888,032 |
| Total assets | $198,531,120 | $197,098,757 | $192,747,105 | $217,296,796 | $227,219,857 |
| Liabilities | 2020 | 2019 | 2018 | 2017 | 2016 |
| Payables and accrued expenses | $13,795,635 | $11,818,634 | $11,705,200 | $13,002,781 | $11,657,902 |
| Other current liabilities | $10,511,223 | $10,237,234 | $886,789 | $925,041 | $1,031,681 |
| Total current liabilities | $24,306,858 | $22,055,868 | $12,591,989 | $13,927,822 | $12,689,583 |
| Debt | $117,259,331 | $121,966,626 | $122,663,061 | $123,329,610 | $120,461,267 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $387,247 |
| Total long-term liabilities | $117,259,331 | $121,966,626 | $122,663,061 | $123,329,610 | $120,848,514 |
| Total liabilities | $141,566,189 | $144,022,494 | $135,255,050 | $137,257,432 | $133,538,097 |
| Net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Without donor restrictions | $31,696,748 | $27,746,201 | $31,825,527 | $55,116,546 | $70,288,260 |
| With donor restrictions | $25,268,183 | $25,330,062 | $25,666,528 | $24,922,818 | $23,393,500 |
| Net assets | $56,964,931 | $53,076,263 | $57,492,055 | $80,039,364 | $93,681,760 |
| Revenues and expenses | |||||
| Revenue | 2020 | 2019 | 2018 | 2017 | 2016 |
| Total contributions | $2,580,035 | $7,024,015 | $1,613,515 | $1,502,042 | $2,283,295 |
| Program service revenue | $141,492,682 | $140,901,386 | $131,077,303 | $121,396,665 | $107,760,566 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $1,751,947 | $2,769,031 | $10,893,457 | ($437,586) | $5,641,928 |
| Other revenue | $275,405 | $309,600 | $275,755 | $323,002 | $492,997 |
| Total other revenue | $143,520,034 | $143,980,017 | $142,246,515 | $121,282,081 | $113,895,491 |
| Total revenue | $146,100,069 | $151,004,032 | $143,860,030 | $122,784,123 | $116,178,786 |
| Expenses | 2020 | 2019 | 2018 | 2017 | 2016 |
| Program services | $123,198,790 | $130,754,927 | $141,946,584 | $127,310,747 | $110,528,514 |
| Management and general | $16,708,638 | $16,057,921 | $17,427,670 | $16,767,413 | $21,032,651 |
| Fundraising | $1,613,267 | $1,485,144 | $2,277,253 | $2,149,571 | $2,746,387 |
| Total expenses | $141,520,695 | $148,297,992 | $161,651,507 | $146,227,731 | $134,307,552 |
| Change in net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Surplus (deficit) | $4,579,374 | $2,706,040 | ($17,791,477) | ($23,443,608) | ($18,128,766) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $4,579,374 | $2,706,040 | ($17,791,477) | ($23,443,608) | ($18,128,766) |
Compensation
| Name | Title | Compensation |
| Mark D Martin | Dean/Professor - Law School | $385,099 |
| Gerson Moreno-Riano | Executive Vice President for Academic Affairs | $376,702 |
| Louis A Isakoff | Vice President and General Counsel | $363,842 |
| M G Robertson | Chancellor-CEO | $306,391 |
| Sherri R Miller | Former Vice President for University Marketing | $301,457 |
| Martha J Smith | Vice President for Human Resources & Administration | $286,729 |
| Joseph Umidi | Executive Vice President for Student Life | $262,667 |
| Doris Gomez | Dean - Business | $235,708 |
| John E Mulford | Professor - Business | $218,706 |
| William L Hathaway | Dean - Psychology/Counseling | $217,587 |
| Dean A Wooten | Former Vice President for Finance | $209,896 |
| Marion R Warren | Professor - Law | $184,491 |
| Stephen Bruce | Vice President for Business Administration | $183,367 |
| Ann R LeBlanc | Vice President on Special Assignment | $151,163 |
| Dorothy C Foster | Vice President for Univ Marketing & Public Relations | $118,462 |
Compensation data as of: 6/30/2020
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 10/12/2020. To update the information below, please email: info@ministrywatch.com
History
The history of Regent University is an inspiring testament of what vision backed by excellence, innovation and integrity can accomplish. Dr. M.G. "Pat" Robertson had an inspired vision of establishing a graduate-level institution that would train capable men and women for the challenge of representing Christ in their professions. In 1977, his vision materialized - a 70-acre parcel of land in Virginia Beach, Virginia, was cleared, the foundation was poured for the university's first building, and an institution was incorporated as CBN University. The following year, 77 students began classes in modest, rented facilities nearby. Today, thousands of students are earning their associate, bachelor's, master's and doctoral degrees at Regent University. Throughout its dramatic growth as a global center for Christian thought and action, the university has remained steadfast to its mission - Christian Leadership to Change the World.