Regent University

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 8/16/2021. 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: 757-352-4127

Email: admissions@regent.edu


Organization details

EIN: 541061178

CEO/President: Pat Robinson

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.

The university was founded for the specific purpose of preparing leaders who would not only succeed in their professions but also advance as Christians equipped to effectively impact their world. It was that cause that brought 70 CBN University students together in 1978 to pursue their graduate degrees in communication, albeit in rented classroom space under the guidance of seven faculty members.


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

CategoryRatingOverall rankSector rank
Overall efficiency rating411 of 94051 of 112
Fund acquisition rating657 of 94287 of 112
Resource allocation rating362 of 94242 of 112
Asset utilization rating312 of 94028 of 112

Financial ratios

Funding ratiosSector median20202019201820172016
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 ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%87%88%88%87%82%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%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
3%3%2%-12%-19%-16%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%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 ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.500.710.750.840.670.59
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.742.102.252.772.592.49
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.641.501.692.321.741.47
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.073.893.985.536.027.20
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.260.250.180.170.14
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.865.955.314.245.737.03
 
Solvency ratiosSector median20202019201820172016
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
140%40%36%36%55%70%

Financials

Balance sheet
 
Assets20202019201820172016
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
 
Liabilities20202019201820172016
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 assets20202019201820172016
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
 
Revenue20202019201820172016
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
 
Expenses20202019201820172016
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 assets20202019201820172016
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

NameTitleCompensation
Mark D MartinDean/Professor - Law School$385,099
Gerson Moreno-RianoExecutive Vice President for Academic Affairs$376,702
Louis A IsakoffVice President and General Counsel$363,842
M G RobertsonChancellor-CEO$306,391
Sherri R MillerFormer Vice President for University Marketing$301,457
Martha J SmithVice President for Human Resources & Administration$286,729
Joseph UmidiExecutive Vice President for Student Life$262,667
Doris GomezDean - Business$235,708
John E MulfordProfessor - Business$218,706
William L HathawayDean - Psychology/Counseling$217,587
Dean A WootenFormer Vice President for Finance$209,896
Marion R WarrenProfessor - Law$184,491
Stephen BruceVice President for Business Administration$183,367
Ann R LeBlancVice President on Special Assignment$151,163
Dorothy C FosterVice 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 8/16/2021. 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.

The Regent Timeline emphasizes the university's steady growth since those humble beginnings, as well as its commitment to academic excellence. Highlights from the beginning to today include:

1977 - The university is incorporated as CBN University, a nonprofit graduate education institution.

1978 - Dr. M.G. "Pat" Robertson is officially appointed president of, then, CBN University. Students in the School of Communication & the Arts begin classes in September.

1980 - The first class graduates in May. The School of Education opens in October. The university dedicates its first building, the Administration Building, on campus in Virginia Beach.

1982 - Ground is broken for the University Library. The School of Business and the School of Divinity open.

1983 - Robertson School of Government opens.

1984 - The university receives full accreditation from the Southern Association of Colleges and Schools (SACS).

1986 - Regent University School of Law opens.

1988 - The School of Psychology & Counseling is founded.

1990 - The Board of Trustees votes to change the name of CBN University to Regent University.

1995 - Regent opens its Washington, D.C., location.

1997 - The School of Leadership Studies develops an online M.A. program in Organizational Leadership, marking Regent as a model for online graduate education.

2000 - An undergraduate degree-completion program is introduced to give working adults opportunities to complete bachelor's degrees in an accelerated format.

2002 - The 135,000-square-foot Communication & Performing Arts Center opens as one of the most technologically advanced communication buildings on the East Coast.

2003 - The 31,000-square-foot Student Center opens on campus in Virginia Beach, offering a close sense of community. Regent celebrates 25 years of growth and influence with the kick-off of the Clash of the Titans® debate series.

2004 - Kick-off of the annual intramural flag football championship game, dubbed the "Chili Bowl" in 2009 with the addition of an annual chili cook-off.

2006 - Regent creates its School of Global Leadership & Entrepreneurship, the result of combining its School of Leadership Studies and School of Business.

2007 - Regent Law produces the winning team of the American Bar Association's 2007 Negotiation Competition, succeeding Harvard. Regent Commons fully furnished residential apartments open, boasting four floor plans, a laundry room, a fitness center, and other amenities for students.

2008 - Regent celebrates its 30th anniversary. The School of Undergraduate Studies launches Regent's first associate degree programs.

2011 - Regent Law celebrates its 25th anniversary. Supreme Court Justice Samuel Alito visits campus to commemorate the milestone.

2012 - Regent University's Board of Trustees approves the name change of the School of Undergraduate Studies to College of Arts & Sciences. Likewise, the School of Global Leadership & Entrepreneurship is renamed School of Business & Leadership.

2013 - The 22,000-square-foot Chapel and connecting 36,000-square-foot Divinity Building open, providing a unifying venue where students, faculty, staff and the community can experience the presence of God as well as classrooms, offices and a welcome center.

2014 - Regent opens its first science laboratory to support a new degree in Biophysical Sciences, marking the university's entry into deeper study of the natural and physical sciences.

2015 - Regent's 20,000th graduate crosses the stage at Commencement on May 9, 2015. Regent Law's Moot Court program ranks in the Top 10 nationally. Distinguished Professors, Attorney General John Ashcroft and Admiral Vern Clark, mark 10 years of teaching at Regent. The first of five 2016 White House hopefuls, former Florida governor Jeb Bush, speaks at Regent-hosted Presidential Candidate Forums. Ohio Governor John Kasich speaks one month later. Then, over the span of six days in February 2016, three more top contenders for the GOP presidential nomination visited the campus: Donald Trump, Senator Ted Cruz and former Regent trustee Dr. Ben Carson. (Candidates from both parties were given the opportunity to share political ideas and campaign platforms in a balanced, non-debate format. Regent University does not endorse candidates for public office.)

2016 - Regent achieves historic enrollment of 8,000 students for its March session. Regent introduces plans for a state-of-the-art Athletic Complex and welcomes its first athletic director and competitive track team.

Regent launches a partnership with Corbin Bernson's Home Theater films to produce In-Lawfully Yours. The film was written by a Communication & the Arts professor, and many COM students received a professional film credit for their participation on set in production, editing, filming and acting roles.

2017 - Regent's School of Divinity achieves historic enrollment of 1,000 students for its March session. The university also celebrated its 10,000th student in total enrollment.

Regent announces its new team name, Regent Royals, derived from 1 Peter 2:9: "You are a chosen generation, a royal priesthood, a holy nation, His own special people, that you may proclaim the praises of Him who called you out of darkness into His marvelous light."

Regent launches a multimillion-dollar state-of-the-art Cyber Range within the Institute for Cybersecurity. This hyper-realistic simulation platform is one of the nation's most powerful platforms offering real-world cyber attack and defense training.

2018

Regent Law receives top overall bar passage rate in the Commonwealth of Virginia (February 2018).

Regent hosts first cybersecurity summit and also graduates first cybersecurity students.

College of Healthcare Sciences and School of Nursing launched, after unanimous approval in 2017 by the Regent University Board of Trustees. First RN to B.S. in Nursing students graduate.

Regent is ranked among Top National Universities - U.S. News & World Report, 2019.

Regent is named a National Center of Academic Excellence in Cyber Defense (CAE-CD) by the National Security Agency (NSA) and the Department of Homeland Security (DHS). First B.S. in Cybersecurity students graduate.

Regent launches the Center for Christian Thought & Action, inspiring thought leaders from all over the world to tackle the profound and unsolvable problems of today's culture.

CBN and Regent Christmas Village Inaugural event welcomed several thousand community members to campus for a free German town-inspired Christmas village complete with live nativity and a 40-foot Christmas tree.

Regent's RN to B.S. in Nursing program receives accreditation by the Commission on Collegiate Nursing Education

2019

Regent Chapel dedicated to Jack and Jane Shaw and renamed Shaw Chapel in their honor.

Regent Law launches the Grace Community Law Clinic in downtown Norfolk.

Regent Theatre named Dede Robertson Theatre in honor of Regent's longtime board member and wife of the school's founder, chancellor and CEO, Dr. M.G. "Pat" Robertson.

2020

Regent responds to COVID-19 pandemic with Ready, Set, Regent initiative, including: expanded online resources, Healthcare Hero Scholarship® and Social Distancing Scholarship®, early college incentives, a tuition freeze, and a series of free Great Talks® webinars to help individuals navigate the challenges of the COVID-19 environment.

Study.com ranks Regent University the #1 Accredited Online College in the United States

Regent celebrates its 40th Commencement Ceremony and first virtual commencement, conferring nearly 2,300 degrees

Regent Law unveils Robertson Center for Constitutional Law

Regent develops state-of-the-art Regent Ready: COVID-19 Preparedness Plan

Regent launches The Honors College, welcoming nearly 100 on-campus students into its inaugural class

#RegentPrays campaign kicks off, to encourage global prayer and revival

Regent's Master of Science in Nursing program receives accreditation by the Commission on Collegiate Nursing Education


Program accomplishments

Today, thousands of students earn associate, bachelor's, master's and doctoral degrees at the school's campus in Virginia Beach, Virginia, or via online learning. Our student body represents all 50 states, 88 countries and 38 denominations. We have prepared over 27,000 alumni to succeed in their careers and to make a positive difference in the world.

Our academic programs are as rigorous as they are rewarding. Regent student teams regularly win national competitions in their fields of study, and our alumni have been honored for professional achievements in their disciplines.

The distinct mission of Regent has drawn students, administrators, and distinguished faculty and guest lecturers from around the world. Regent employs 158 full-time faculty and 743 adjunct professors, including former Attorney General John Ashcroft. Review Regent University Facts for a closer look at the accomplishments and prominence of our university.

Beyond milestone events and dates or facts and figures, Regent remains a premier educational institution dedicated to combining quality education with biblical teachings. The dramatic changes that have taken place are the result of divine inspiration and unwavering dedication to the mission as reflected in our motto - Christian Leadership to Change the World.


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