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Nonprofiteer
← REGENT UNIVERSITY

Form 990 for tax year 2024

Filed by REGENT UNIVERSITY.

Totals

Total revenue
$189,426,241
Total expenses
$168,838,408
Contributions and grants received
$17,008,279
Grants paid
$27,997,860
Program service revenue
$165,544,737
Investment income
$6,481,872
Other revenue
$391,353
Total assets, end of year
$239,013,915
Total liabilities, end of year
$96,717,036
Net assets or fund balances, end of year
$142,296,879
Program services expenses (Part IX)
$141,632,267
Management and general expenses
$25,043,009
Fundraising expenses
$2,163,132
Program service expenses (Part III)
$141,632,267

Program services were 83.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $921,721

  • 1f · All other contributions, gifts and grants

    $16,086,558

  • 1g · Noncash contributions included above

    $10,541,158

  • 2a · Program service revenue: Tuition and fees

    total $145,893,957 · related or exempt $145,893,957 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Hotel food and beverage

    total $12,437,830 · related or exempt $12,437,830 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Sales and Services - Auxiliary

    total $6,009,747 · related or exempt $6,009,747 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Sales and Services - Education

    total $21,180 · related or exempt $21,180 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Miscellaneous

    total $1,182,023 · related or exempt $1,182,023 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,639,789 · related or exempt $0 · unrelated business $0 · excluded $2,639,789

  • 4 · Income from investment of tax-exempt bond proceeds

    total $11,993 · related or exempt $0 · unrelated business $0 · excluded $11,993

  • 5 · Royalties

    total $43,752 · related or exempt $0 · unrelated business $0 · excluded $43,752

  • 6a · Gross rents

    real property $6,275 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $6,275 · personal property $0

  • 6d · Net rental income or loss

    total $6,275 · related or exempt $0 · unrelated business $6,275 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $34,870,776 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $31,040,686 · other assets $0

  • 7c · Gain or loss

    securities $3,830,090 · other assets $0

  • 7d · Net gain or loss

    total $3,830,090 · related or exempt $0 · unrelated business $0 · excluded $3,830,090

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Bookstore Commission

    total $342,021 · related or exempt $342,021 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Change value split interest agreement

    total -$695 · related or exempt $0 · unrelated business $0 · excluded -$695

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $341,326

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,000 · program services $30,000

  • 2 · Grants to domestic individuals

    total $27,952,620 · program services $27,952,620

  • 3 · Grants to foreign organizations and individuals

    total $15,240 · program services $15,240

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $2,614,512 · program services $617,801 · management and general $1,930,986 · fundraising $65,725

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $63,355,831 · program services $51,913,015 · management and general $10,402,103 · fundraising $1,040,713

  • 8 · Pension plan contributions

    total $982,182 · program services $763,451 · management and general $196,330 · fundraising $22,401

  • 9 · Other employee benefits

    total $7,917,089 · program services $10,153,173 · management and general -$2,532,788 · fundraising $296,704

  • 10 · Payroll taxes

    total $4,838,948 · program services $3,835,705 · management and general $920,264 · fundraising $82,979

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $185,685 · program services $18,085 · management and general $164,263 · fundraising $3,337

  • 11c · Fees: accounting

    total $182,507 · program services $0 · management and general $182,507 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $4,005,986 · program services $2,914,187 · management and general $982,664 · fundraising $109,135

  • 12 · Advertising and promotion

    total $24,117,797 · program services $23,557,462 · management and general $439,780 · fundraising $120,555

  • 13 · Office expenses

    total $4,409,491 · program services $2,473,738 · management and general $1,770,270 · fundraising $165,483

  • 14 · Information technology

    total $6,013,336 · program services $1,629,477 · management and general $4,258,234 · fundraising $125,625

  • 15 · Royalties

    total $15,382 · program services $14,602 · management and general $780 · fundraising $0

  • 16 · Occupancy

    total $6,354,360 · program services $6,838,517 · management and general -$510,238 · fundraising $26,081

  • 17 · Travel

    total $1,014,634 · program services $890,679 · management and general $44,110 · fundraising $79,845

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $66,287 · program services $61,260 · management and general $4,969 · fundraising $58

  • 20 · Interest

    total $1,601 · program services $90 · management and general $1,511 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $5,324,347 · program services $4,163,192 · management and general $1,154,332 · fundraising $6,823

  • 23 · Insurance

    total $1,079,676 · program services $81,654 · management and general $998,022 · fundraising $0

  • 24a · Other expenses: Repairs Maintenance Equipment

    total $2,157,879 · program services $1,019,313 · management and general $1,138,332 · fundraising $234

  • 24b · Other expenses: Hospitality

    total $614,673 · program services $583,332 · management and general $14,655 · fundraising $16,686

  • 24c · Other expenses: Hotel Services and Support

    total $3,566,565 · program services $1,914,235 · management and general $1,652,330 · fundraising $0

  • 24d · Other expenses: Other

    total $2,021,780 · program services $191,439 · management and general $1,829,593 · fundraising $748

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,033 · end of year $54,188

  • 2 · Savings and temporary cash investments

    beginning of year $41,711,559 · end of year $29,348,834

  • 3 · Pledges and grants receivable

    beginning of year $30,036 · end of year $2,223,628

  • 4 · Accounts receivable

    beginning of year $8,472,540 · end of year $11,515,911

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $143,390 · end of year $140,974

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,558,415 · end of year $1,906,326

  • 10a · Land, buildings and equipment: cost or other basis

    $266,215,638

  • 10b · Land, buildings and equipment: accumulated depreciation

    $164,625,642

  • 10c · Land, buildings and equipment, net

    beginning of year $78,361,827 · end of year $101,589,996

  • 11 · Investments: publicly traded securities

    beginning of year $60,189,752 · end of year $70,003,742

  • 12 · Investments: other securities

    beginning of year $15,805,098 · end of year $16,994,419

  • 13 · Investments: program-related

    beginning of year $5,114,113 · end of year $5,235,897

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,347,878 · end of year $12,291,433

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $10,088,382 · end of year $13,159,161

  • 20 · Tax-exempt bond liabilities

    beginning of year $73,732,553 · end of year $71,266,442

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $74,939,485 · end of year $93,874,489

  • 28 · Net assets with donor restrictions

    beginning of year $40,323,465 · end of year $48,422,390

Mission and programs · 2024

Mission

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.

  • 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. 1,230 Graduate degrees, 730 Bachelor degrees, 196 First Professional degrees and 46 Associate degrees were awarded in 2024-2025. (10,657 students)

    Expenses $132,646,464 · Revenue $153,448,928

  • Hospitality Services - Hotel and conference center providing conference services, food and beverage services, banquets and other various hospitality services.

    Expenses $8,985,803 · Revenue $12,437,830

As filed on the 2024 return.

Listed in Part VII

  • Gordon P Robertson

    Chancellor/Chief Executive Officer

    Total calculated
    $973,222
    From this org
    $351,625
    From related orgs
    $582,155
    Other
    $39,442
    Hours/week
    26 + 34 related

    Schedule J breakdown matched by us

    Base
    $351,625 + $573,980 related
    Bonus
    $0 + $1,317 related
    Other
    $0 + $6,858 related
    Deferred
    $0
    Nontaxable benefits
    $15,552 + $23,890 related
    Filer's total
    $367,177 + $606,045 related

  • Louis A Isakoff

    Sr Vice President and General Counsel

    Total calculated
    $445,319
    From this org
    $401,478
    From related orgs
    $0
    Other
    $43,841
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $401,478
    Bonus
    $0
    Other
    $0
    Deferred
    $6,900
    Nontaxable benefits
    $36,941
    Filer's total
    $445,319

  • Dorothy C Foster

    Exec VP Advancement/Enrollment Services

    Total calculated
    $359,376
    From this org
    $328,539
    From related orgs
    $0
    Other
    $30,837
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $328,539
    Bonus
    $0
    Other
    $0
    Deferred
    $6,305
    Nontaxable benefits
    $24,531
    Filer's total
    $359,375

  • Bradley J Lingo

    Dean/Professor - School of Law

    Total calculated
    $335,357
    From this org
    $303,758
    From related orgs
    $0
    Other
    $31,599
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $303,758
    Bonus
    $0
    Other
    $0
    Deferred
    $6,150
    Nontaxable benefits
    $25,449
    Filer's total
    $335,357

  • William L Hathaway

    Exec VP Academic Affairs

    Total calculated
    $317,210
    From this org
    $282,199
    From related orgs
    $0
    Other
    $35,011
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $282,199
    Bonus
    $0
    Other
    $0
    Deferred
    $5,646
    Nontaxable benefits
    $29,366
    Filer's total
    $317,211

  • Martha J Smith

    Vice President for Human Resources & Administration

    Total calculated
    $315,938
    From this org
    $284,811
    From related orgs
    $0
    Other
    $31,127
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,311
    Bonus
    $0
    Other
    $7,500
    Deferred
    $5,523
    Nontaxable benefits
    $25,605
    Filer's total
    $315,939

  • Stephen Bruce

    EVP Finance and Administration

    Total calculated
    $292,776
    From this org
    $258,376
    From related orgs
    $0
    Other
    $34,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,376
    Bonus
    $0
    Other
    $0
    Deferred
    $5,267
    Nontaxable benefits
    $29,133
    Filer's total
    $292,776

  • Joseph Umidi

    Executive Vice President for Student Life

    Total calculated
    $279,948
    From this org
    $255,868
    From related orgs
    $0
    Other
    $24,080
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,114
    Bonus
    $0
    Other
    $0
    Deferred
    $4,073
    Nontaxable benefits
    $20,007
    Filer's total
    $182,194

  • Simon Tarr

    Dean of Honors College/School of Communication

    Total calculated
    $279,392
    From this org
    $234,629
    From related orgs
    $0
    Other
    $44,763
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,629
    Bonus
    $0
    Other
    $0
    Deferred
    $4,715
    Nontaxable benefits
    $40,048
    Filer's total
    $279,392

  • Michele M Bachmann

    Dean - School of Government

    Total calculated
    $267,774
    From this org
    $245,002
    From related orgs
    $0
    Other
    $22,772
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,002
    Bonus
    $0
    Other
    $0
    Deferred
    $4,739
    Nontaxable benefits
    $18,033
    Filer's total
    $267,774

  • Doris Gomez

    Dean - School of Business and Leadership

    Total calculated
    $257,545
    From this org
    $224,730
    From related orgs
    $0
    Other
    $32,815
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,730
    Bonus
    $0
    Other
    $0
    Deferred
    $4,529
    Nontaxable benefits
    $28,287
    Filer's total
    $257,546

  • Joshua McMullen

    Dean - College of Arts and Sciences

    Total calculated
    $252,550
    From this org
    $223,611
    From related orgs
    $0
    Other
    $28,939
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $223,611
    Bonus
    $0
    Other
    $0
    Deferred
    $4,526
    Nontaxable benefits
    $24,413
    Filer's total
    $252,550

  • Chris Allen Mitchell Sr

    VP Chief of Police

    Total calculated
    $230,314
    From this org
    $207,654
    From related orgs
    $0
    Other
    $22,660
    Hours/week
    40 + 25 related

    Schedule J breakdown matched by us

    Base
    $207,654
    Bonus
    $0
    Other
    $0
    Deferred
    $4,000
    Nontaxable benefits
    $18,660
    Filer's total
    $230,314

  • Drew Ashby

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dianne Cash

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Chauncey W Crandall

    Board Member - Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • William Federer

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James Gregory

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joe Johnson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephen Levy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Howard Long

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • William Maynard

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Melilli

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jay A Sekulow

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Daniel C Sellers Jr

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Magda Serrano

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Phillip D Walker

    Board Member - Chairman

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Whitelaw

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Steve Best

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Arun Daniel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James Ward

    Board Member

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
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
Compensation committee reviews and approves the compensation for the CEO/Executive Director for the University.
Schedule J, Part I, Line 4
Psychology faculty member, previous Provost of the University, has been receiving retirement payments according to a previously agreed upon contract until his death in fiscal year 2023. Per the agreement, his wife will continue receiving these retirement payments until her death.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • Go To Nations

    $30,000

    To support missionary who is working for The Center for Entrepreneurship for Economic Development. Regent University established and supports this Center.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
14 April 2026
IRS schema version
2024v5.0
Source object
202621049349301132

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