2024-04-26T15:55:13-04:00 2023-06-30 591152714 BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOC 8035 SPYGLASS HILL RD MELBOURNE FL 329407984 990 2022-07-01 596046500 FLORIDA INSTITUTE OF TECHNOLOGY INC FLOR 3216627297 150 W UNIVERSITY BLVD MELBOURNE FL 329016975 KATHLEEN MCDERMOTT CFO 3216747342 2024-05-15 true KATHLEEN MCDERMOTT 999009999 true ABBEY K REDDEN CPA P00189512 3217572020 2024-04-26 2022 2023-04-26 12:10:37Z DR JOHN NICKLOW 150 W UNIVERSITY BLVD MELBOURNE FL 32901 305473853 false X WWW.FIT.EDU X 1958 FL FLORIDA INSTITUTE OF TECHNOLOGY'S MISSION IS TO PROVIDE HIGH-QUALITY EDUCATION TO A CULTURALLY DIVERSE STUDENT BODY IN ORDER TO PREPARE STUDENTS FOR ENTERING THE GLOBAL WORKFORCE, SEEKING HIGHER-EDUCATION OPPORTUNITIES, AND SERVING WITHIN THEIR COMMUNITIES. THE UNIVERSITY ALSO SEEKS TO EXPAND KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH AND TO SERVE THE DIVERSE ECONOMIC, CULTURAL, AND SOCIETAL NEEDS OF OUR LOCAL, STATE, NATIONAL AND INTERNATIONAL CONSTITUENCIES. 23 22 2820 34 11602442 29346904 23310210 173595201 181510415 8071462 4791351 891463 2077638 211905030 211689614 0 0 95847524 104160613 0 3115880 83012090 91348057 178859614 195508670 33045416 16180944 365997588 392515019 145565436 148928775 220432152 243586244 X FLORIDA INSTITUTE OF TECHNOLOGY'S MISSION IS TO PROVIDE HIGH-QUALITY EDUCATION TO A CULTURALLY DIVERSE STUDENT BODY IN ORDER TO PREPARE STUDENTS FOR ENTERING THE GLOBAL WORKFORCE, SEEKING HIGHER-EDUCATION OPPORTUNITIES, AND SERVING WITHIN THEIR COMMUNITIES. THE UNIVERSITY ALSO SEEKS TO EXPAND KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH AND TO SERVE THE DIVERSE ECONOMIC, CULTURAL, AND SOCIETAL NEEDS OF OUR LOCAL, STATE, NATIONAL AND INTERNATIONAL CONSTITUENCIES. false false 81396983 152760174 INSTRUCTION AND ACADEMIC SUPPORT THE UNIVERSITY INSTRUCTED 3,469 UNDERGRADUATE, 1,092 GRADUATE AND 482 DOCTORATE STUDENTS ON CAMPUS AND OFF CAMPUS SITES. IN ADDITION, THERE WERE 4,613 ONLINE STUDENTS IN UNDERGRADUATE, GRADUATE AND DOCTORAL PROGRAMS. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS IN THE FOLLOWING FIELDS OF STUDY: AERONAUTICS AND AVIATION, BUSINESS AND MANAGEMENT, PSYCHOLOGY AND BEHAVIOR ANALYSIS, ARTS AND COMMUNICATION, ENGINEERING, SCIENCE AND MATHEMATICS, COMPUTING, PREMED. 53294883 28750241 STUDENT SERVICES, AUXILLARY ENTERPRISES AND OTHER REVENUES MAJOR SERVICES PROVIDED ARE HOUSING AND DINING. IN ADDITION, CAMPUS LIFE REVOLVES AROUND THE CLEMENTE CENTER FOR SPORTS AND RECREATION, THE DENIUS STUDENT CENTER AND PANTHER PLAZA. STUDENTS PARTICIPATE IN A WIDE VARIETY OF INTRAMURAL SPORTS, MORE THAN 100 STUDENT ORGANIZATIONS AND 16 INTERCOLLEGIATE SPORTS. FROM GREEK LIFE TO THE COLLEGE PLAYERS THATRICAL ORGANIZATION, STUDENTS ARE ACTIVELY INVOLVED IN THE LIFE OF THE CAMPUS COMMUNITY. 134691866 true true false true false false false true false true true true false false true true false true true false true false false false true true false false false true true false false false false false false false false false false false false false false true false false false false true 147 12 true 2820 true true true false false false false false false false false false false false X 23 22 false false false false false false false true true false false true true true true true true true true false FL X X KATHLEEN MCDERMOTT 3216748837 150 W UNIVERSITY BLVD MELBOURNE FL 32901 MARCO CARVALHO EVP/ PROVOST 40.00 X 442056 0 36625 T DWAYNE MCCAY FORMER PRESI 40.00 X 400902 0 24657 ALBINO CAMPANINI SVP STUDENT 40.00 X 306570 0 7625 GARY GRANT SVP ADVANCEM 40.00 X 279865 0 27225 HAMID RASSOUL DISTINGUISHE 40.00 X 247803 0 28899 MR ROBERT KING INTERIM PRES 40.00 X 260665 0 12732 HECTOR GUTIERREZ PROFESSOR 40.00 X 215253 0 30942 MICHAEL JONES CFO THRU AUG 40.00 X 218223 0 23741 RICHARD ARONSON PROFESSOR/DE 40.00 X 209306 0 32155 BRIAN LESLIE VP FACILITIE 40.00 X 202771 0 32019 DANIEL KIRK PROFESSOR 40.00 X 212019 0 22502 MICHAEL KING ASSOCIATE PR 40.00 X 200517 0 24354 BRIAN EHRLICH VP ENROLLMEN 40.00 X 192079 0 31559 THEODORE RICHARDSON DEAN 40.00 X 196542 0 17494 KATHLEEN MCDERMOTT CFO 40.00 X 62500 0 0 DR RAYMOND A ARMSTRONG TRUSTEE EMER 2.00 0.00 X 0 0 0 DR RICHARD N BANEY TRUSTEE EMER 2.00 0.00 X 0 0 0 MR JOSEPH CARUSO TRUSTEE 2.00 0.00 X 0 0 0 MR BRIAN CRANE TRUSTEE 2.00 0.00 X 0 0 0 MR DALE DETMER TRUSTEE 2.00 0.00 X 0 0 0 MS KRISTEN DREGGORS TRUSTEE 2.00 0.00 X 0 0 0 MS BOBBIE DYER TRUSTEE 2.00 0.00 X 0 0 0 MR JOSEPH M FLAMMIO TRUSTEE EMER 2.00 0.00 X 0 0 0 MR DOUG FLUTIE TRUSTEE 2.00 0.00 X 0 0 0 MR THOMAS FOLLIARD TRUSTEE 2.00 0.00 X 0 0 0 MR STEVEN FREEMAN TRUSTEE 2.00 0.00 X 0 0 0 MS DANA KILBORNE TRUSTEE 2.00 0.00 X 0 0 0 MR RICHARD P MCNEIGHT TRUSTEE 2.00 0.00 X 0 0 0 MR KENDALL T MOORE TRUSTEE 2.00 0.00 X 0 0 0 MR WILLIAM R MUNS TRUSTEE 2.00 0.00 X 0 0 0 MR ROBERT L PHEBUS TRUSTEE 2.00 0.00 X 0 0 0 MR RICHARD R PORTER TRUSTEE 2.00 0.00 X 0 0 0 MR WILLIAM C POTTER TRUSTEE EMER 2.00 0.00 X 0 0 0 MR ALAN L PRESTWOOD TRUSTEE 2.00 0.00 X 0 0 0 MR D TRAVIS PROCTOR TRUSTEE 2.00 0.00 X 0 0 0 MR JAMES E PRUITT TRUSTEE EMER 2.00 0.00 X 0 0 0 MR MICHAEL SCAFATI TRUSTEE 2.00 0.00 X 0 0 0 MR SCOTT J SEYMOUR TRUSTEE 2.00 0.00 X 0 0 0 MRS ELIZABETH J SWANN TRUSTEE 2.00 0.00 X 0 0 0 MR VIKRAM VERMA TRUSTEE 2.00 0.00 X 0 0 0 MR TIM WAKEFIELD TRUSTEE 2.00 0.00 X 0 0 0 MR DAVID WELDON TRUSTEE 2.00 0.00 X 0 0 0 3647071 352529 175 false true false ABA TECHNOLOGIES INC 930 S HARBOUR CITY BLVD STE 402 MELBOURNE FL 32901 ONLINE ED. 11817349 BISK EDUCATION INC 10002 PRINCESS PALM AVE TAMPA FL 33619 ONLINE ED. 7051323 IVEY'S CONSTRUCTION INC 4060 N COURTENAY PKWY MERRITT ISLAND FL 32953 CONSTRUCTION 4826546 NATIONAL MANAGEMENT RESOURCES CORP PO BOX 1224 LAGRANGE GA 30241 JANITORIAL 2920492 ELLUCIAN CO LP 62578 COLLECTION CENTER DRIVE CHICAGO IL 60693 SOFTWARE 1128686 49 19822513 3487697 14951 23310210 TUITION & FEES 141165302 141165302 HOUSING & FOOD SERVICE 23229033 23229033 FIT AVIATION, LLC 611710 11594872 11594872 OTHER 5521208 5521208 181510415 4346779 4346779 1591009 1591009 1591009 1591009 93909773 196892 93620181 41912 289592 154980 444572 154980 289592 206377 53545 152832 152832 130800 68601 62199 62199 OTHER INCOME 227099 227099 INSURANCE RECOVERY 36929 36929 INSURANCE RECOVERY 611710 7570 7570 271598 211689614 170334551 11602442 6442411 2299096 367856 1686858 244382 80243366 70086416 8648137 1508813 2810360 2445013 309140 56207 12538527 11000114 1301734 236679 6269264 5478731 668913 121620 21448501 17144738 4208062 95701 477080 58256 418824 221701 221701 2523591 1245495 902150 375946 7257632 5704507 1332015 221110 5648210 1689546 3882980 75684 6667 6667 16317270 6314238 9871691 131341 2412195 2177593 199734 34868 643967 536528 103910 3529 3867569 3867569 11219553 11219553 5560433 108131 5442302 10000 SCHOLARSHIP 4435452 4435452 DINING SERVICES 3882048 3882048 COGS 2647814 2647814 LIBRARY RESOURCES 1883137 1865199 17938 895237 152005 743232 195508670 134691866 57700924 3115880 18778635 36171599 1641002 1527497 6160405 13470758 1940919 1488297 1522013 1660567 4458663 4960037 340557497 120404345 210834953 220153152 120589558 100805797 71440 225682 12051633 365997588 392515019 18341194 13005658 5901717 5426973 103461247 99954093 1398666 1282341 16462612 29259710 145565436 148928775 X 132341340 148841207 88090812 94745037 220432152 243586244 365997588 392515019 X 16180944 6973148 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 313365 313365 false SCHEDULE C, PART II-B, LINE 1 FLORIDA INSTITUTE OF TECHNOLOGY CONTRACTED WITH OUTSIDE VENDORS TO SPEAK DIRECTLY TO LEGISLATORS ON ITS BEHALF. X false 89442037 1819239 10498778 -4810980 -368775 96580299 107867599 4085745 -14008702 -3590657 -4463542 -448406 89442037 81763706 2068809 31021858 -1441209 -5034180 -511385 107867599 86645075 1033655 -2335108 -947072 -2239414 -393430 81763706 79818146 4450460 6116499 -1026795 -2327359 -385876 86645075 0.12300 0.87700 false false 8245513 8245513 201503785 58500151 143003634 54637286 27911102 26726184 58509381 26653555 31855826 17661532 7339537 10321995 220153152 EQUITY MUTUAL FUNDS 37075506 F COMMON STOCKS 33983727 F CORPORATE BONDS 10337378 F US GOVERNMENT NOTES AND BONDS 5056085 F MORTGAGE/ASSET BACKED SECURITIES 4770786 F ALTERNATIVE INVESTMENTS 4097654 F MUNICIPAL BONDS 1678007 F DEBT MUTUAL FUNDS 1447576 F MONEY MARKET 1281069 F SURPLUS NOTES 645212 F SHORT TERM INVESTMENTS 432797 F 100805797 OPERATING LEASES 14250868 FINANCE LEASES 11138405 REFUNDABLE GOVERNMENT LOANS 2109560 ANNUITIES PAYABLE 1760877 29259710 X 218740409 6973148 122146 7095294 211645115 44499 44499 211689614 195586317 122146 122146 195464171 44499 44499 195508670 SCHEDULE D, PAGE 2, PART V, LINE 4 ENDOWMENT SPENDING POLICY - AN ANNUAL ALLOCATION TO THE OPERATING FUND IS CALCULATED AS A PERCENTAGE OF THE ENDOWMENT MARKET VALUE. THE POLICY IS TO TRANSFER 5% OF THE MARKET VALUE DURING THE SUBSEQUENT FISCAL YEAR BY USING A MOVING AVERAGE, COMPUTED ON THE LAST THREE CALENDAR YEARS OF ENDOWMENT MARKET VALUES. SCHEDULE D, PAGE 3, PART X THE UNIVERSITY IS A TAX-EXEMPT INSTITUTION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY IS CLASSIFIED AS AN ORGANIZATION WHEREBY CONTRIBUTIONS TO IT QUALIFY FOR DEDUCTIONS AS CHARITABLE CONTRIBUTIONS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. NO ASSESSMENTS ARE OUTSTANDING, AND THE UNIVERSITY'S MANAGEMENT BELIEVES THAT THE UNIVERSITY HAS OPERATED IN ACCORDANCE WITH ITS TAX-EXEMPT STATUS. HOWEVER, THE UNIVERSITY DOES ENGAGE IN ACTIVITIES THAT MAY GIVE RISE TO UNRELATED BUSINESS INCOME TAX. AS SUCH, THE UNIVERSITY FILES AN UNRELATED BUSINESS INCOME TAX RETURN THAT INCLUDES FIT AVIATION, LLC AND OTHER ACTIVITIES SUBJECT TO UNRELATED BUSINESS INCOME TAX. DEFERRED INCOME TAXES ARE PROVIDED ON A METHOD WHEREBY DEFERRED TAX ASSETS ARE RECOGNIZED FOR TEMPORARY DIFFERENCES, WHICH ARE THE DIFFERENCES BETWEEN THE REPORTED AMOUNT OF ASSETS AND LIABILITIES AND THEIR TAX BASIS AND ARISE PREDOMINANTLY FROM NET OPERATING LOSSES AND THE ALLOWANCE FOR DOUBTFUL ACCOUNTS RECEIVABLE. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE WHEN, IN THE OPINION OF MANAGEMENT, IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF THE DEFERRED TAX ASSETS WILL NOT BE REALIZED. MEASUREMENT OF DEFERRED INCOME TAX IS BASED ON ENACTED TAX RATES AND LAWS THAT WILL BE IN EFFECT WHEN THE DIFFERENCES ARE EXPECTED TO REVERSE. THE UNIVERSITY ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION ("FASB ASC") 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING AND DISCLOSURE REQUIREMENTS FOR UNCERTAINTY IN TAX POSITIONS. IT REQUIRES A TWO-STEP APPROACH TO EVALUATE TAX POSITIONS AND DETERMINE IF THEY SHOULD BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE TWO-STEP APPROACH INVOLVES RECOGNIZING ANY TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO OCCUR AND THEN MEASURING THOSE POSITIONS TO DETERMINE IF THEY ARE RECOGNIZABLE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT REGULARLY REVIEWS AND ANALYZES ALL TAX POSITIONS AND HAS DETERMINED THAT NO UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION HAVE OCCURRED. THE UNIVERSITY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE UNIVERSITY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2020. SCHEDULE D, PAGE 4, PART XI, LINE 2D GAMING EXPENSES 68,601 FUNDRAISING EXPENSES 53,545 SCHEDULE D, PAGE 4, PART XI, LINE 4B INSURANCE RECOVERY 44,499 SCHEDULE D, PAGE 4, PART XII, LINE 2D GAMING EXPENSES 68,601 FUNDRAISING EXPENSES 53,545 SCHEDULE D, PAGE 4, PART XII, LINE 4B INSURANCE RECOVERY 44,499 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 ALL ADVERTISEMENTS FOR FLORIDA INSTITUTE OF TECHNOLOGY INCLUDE THE NECESSARY INFORMATION REGARDING THE UNIVERSITY'S NON-DISCRIMINATION POLICY. SCHEDULE E, LINE 6 THE UNIVERSITY PARTICIPATES IN NUMEROUS FEDERAL AND STATE PROGRAMS AS LISTED BELOW: FEDERAL PROGRAMS: NATIONAL AERONAUTICS AND SPACE ADMINISTRATION U.S. DEPARTMENT OF AGRICULTURE U.S. DEPARTMENT OF COMMERCE U.S. DEPARTMENT OF DEFENSE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES U.S. DEPARTMENT OF JUSTICE U.S. DEPARTMENT OF TRANSPORTATION U.S. DEPARTMENT OF THE INTERIOR U.S. INTELLIGENCE COMMUNITY NATIONAL SCIENCE FOUNDATION UNITED NATIONS, COMPREHENSIVE NUCLEAR-TEST BAN TREATY ORGANIZATION U.S. SPECIAL OPERATIONS COMMAND U.S. SMALL BUSINESS ADMINISTRATION U.S. DEPARTMENT OF ENERGY OTHER FEDERAL PROGRAMS CORPORATION FOR PUBLIC BROADCASTING U.S. DEPARTMENT OF VETERAN AFFAIRS U.S. DEPARTMENT OF EDUCATION STATE PROGRAMS: FLORIDA DEPARTMENT OF EMERGENCY MANAGEMENT INDIAN RIVER NATIONAL ESTUARY PROGRAM FLORIDA OFFICE OF INSURANCE REGULATION FLORIDA DEPARTMENT OF EDUCATION FLORIDA DEPARTMENT OF TRANSPORTATION FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA DEPARTMENT OF HEALTH SEBASTION INLET TAX DISTRICT FLORIDA FISH AND WILDLIFE CONSERVATION (FWC) FLORIDA STUDENT FINANCIAL ASSISTANCE false EAST ASIA AND THE PACIFIC 1 3 PROGRAM SERVICE PROFESSIONAL SERVICE 105128 EUROPE 8 PROGRAM SERVICE PROFESSIONAL SERVICE 194918 MIDDLE EAST AND NORTH AFRICA 5 PROGRAM SERVICE STUDENT RECRUITMENT 55383 SOUTH AMERICA 4 PROGRAM SERVICE TRAVEL 55460 SOUTH ASIA 3 PROGRAM SERVICE STUDENT RECRUITMENT 336855 NORTH AMERICA 10 PROGRAM SERVICE VARIOUS 336430 1 33 1 33 1084174 1084174 false false false false false false SCHEDULE F, PAGE 1, PART I, LINE 3 EAST ASIA AND THE PACIFIC 105,128 0 EUROPE 194,918 0 MIDDLE EAST AND NORTH AFRICA 55,383 0 SOUTH AMERICA 55,460 0 SOUTH ASIA 336,855 0 NORTH AMERICA 336,430 0 EVENING OF HOPE 206377 206377 17845 35700 206377 206377 17845 35700 53545 152832 false false 130800 64000 4601 false 130800 64000 4601 68601 62199 false SEC. 849.0935 FLORIDA STATUTES (1996 SUPP) AUTHORIZES TAX-EXEMPT false false false GARY GRANT 150 W UNIVERSITY BLVD MELBOURNE FL 32901 false GARY GRANT TRACK/TABULATE RESULTS X false X X X X true true X X X X X false false false false false false false false false MARCO CARVALHO EVP/ PROVOST 435426 6630 15024 21601 478681 T DWAYNE MCCAY FORMER PRESIDENT 320248 80654 15250 9407 425559 ALBINO CAMPANINI SVP STUDENT AFFAIRS 69361 237209 3518 4107 314195 GARY GRANT SVP ADVANCEMENT 269717 4148 6000 13812 13413 307090 HAMID RASSOUL DISTINGUISHED PROFES 237401 10402 12079 16820 276702 MR ROBERT KING INTERIM PRESIDENT 247252 7875 5538 12115 617 273397 HECTOR GUTIERREZ PROFESSOR 186550 28703 9686 21256 246195 MICHAEL JONES CFO THRU AUG. 2022 202252 15971 10315 13426 241964 RICHARD ARONSON PROFESSOR/DEPT. HEAD 203289 6017 10509 21646 241461 BRIAN LESLIE VP FACILITIES OPER. 199493 3278 10322 21697 234790 DANIEL KIRK PROFESSOR 180478 2767 28774 9230 13272 234521 MICHAEL KING ASSOCIATE PROFESSOR 172380 28137 8905 15449 224871 BRIAN EHRLICH VP ENROLLMENT 189109 2970 9886 21673 223638 THEODORE RICHARDSON DEAN 193507 3035 17494 214036 SCHEDULE J, PAGE 1, PART I, LINE 1A -FIRST CLASS TRAVEL MAY OCCUR BASED UPON THE LENGTH OF TRAVEL TIME. -THE PRESIDENT'S SPOUSE MAY, ON OCCASSION, ACCOMPANY THE PRESIDENT ON BUSINESS TRIPS ON BEHALF OF THE UNIVERSITY. A HIGHER EDUCATIONAL FACILITIES AUTH 900058227 34073TNC7 2019-10-30 110862161 SEE SUPPLEMENTAL HIGHER EDUCATIONAL FACILITIES AUTH. PART I, LINE A, COLUMN (F): ACQUIRE 100% INTERE false false false A 3273069 110862161 6718341 929749 77500000 25714074 true false true true A false true false true true 0.00700 0.00100 0.00800 false false true A false false false false false false false false true A true PURPOSE OF ISSUE DESCRIPTION HIGHER EDUCATIONAL FACILITIES AUTH. SEE SUPPLEMENTAL HIGHER EDUCATIONAL FACILITIES AUTH. PART I, LINE A, COLUMN (F): ACQUIRE 100% INTEREST IN TUFF FLORIDA TECH, LLC, FINANCE NEW CAPITAL EXPENDITURES AND REFUND BONDS ISSUED ON 02/01/2013. FORM 990 - ORGANIZATION'S MISSION FLORIDA INSTITUTE OF TECHNOLOGY'S MISSION IS TO PROVIDE HIGH-QUALITY EDUCATION TO A CULTURALLY DIVERSE STUDENT BODY IN ORDER TO PREPARE STUDENTS FOR ENTERING THE GLOBAL WORKFORCE, SEEKING HIGHER-EDUCATION OPPORTUNITIES, AND SERVING WITHIN THEIR COMMUNITIES. THE UNIVERSITY ALSO SEEKS TO EXPAND KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH AND TO SERVE THE DIVERSE ECONOMIC, CULTURAL, AND SOCIETAL NEEDS OF OUR LOCAL, STATE, NATIONAL AND INTERNATIONAL CONSTITUENCIES. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED INTERNALLY BY THE CONTROLLER AND THE EXECUTIVE VICE PRESIDENT & CFO. A COPY OF THE 990 IS SENT TO ALL BOARD OF TRUSTEE MEMBERS FOR REVIEW. DURING THE AUDIT COMMITTEE MEETING THE 990 IS REVIEWED AND APPROVED FOR FILING. FORM 990, PAGE 6, PART VI, LINE 12C FLORIDA INSTITUTE OF TECHNOLOGY HAS IN PLACE A "CONFLICT OF INTEREST POLICY." THE POLICY REQUIRES EACH EMPLOYEE AND BOARD OF TRUSTEE MEMBER TO DISCLOSE ALL ACTIVITIES THAT ADVERSELY INFLUENCE THE INDIVIDUALS JUDGEMENT WITH RESPECT TO PROMOTING THE BEST INTEREST OF THE UNIVERSITY, ANY ACTIVITIES THAT INFLUENCE THEIR PERFORMANCE, AND ANY ACTIVITIES THAT FINANCIALLY BENEFIT THE INDIVIDUAL AS A RESULT OF THEIR EMPLOYMENT/ AFFILIATION WITH THE UNIVERSITY. EACH YEAR A "CONFLICT OF INTEREST" QUESTIONNAIRE IS DISTRIBUTED TO EMPLOYEES AND BOARD OF TRUSTEE MEMBERS. AN ANNUAL REPORT IS MAINTAINED DISCLOSING ANY CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A THE UNIVERSITY'S BOARD OF TRUSTEES COMPLETES A PROCESS THAT REQUIRES A REVIEW OF THE EXECUTIVE'S COMPENSATION, DETERMINATIONS BY THE DISINTERESTED PERSONS, USE OF APPROPRIATE COMPARABILITY DATA AND CONTEMPORANEOUS DOCUMENTATION OF THE PROCESS. FORM 990, PAGE 6, PART VI, LINE 15B THE UNIVERSITY'S BOARD OF TRUSTEES COMPLETES A PROCESS THAT REQUIRES A REVIEW OF THE OFFICER'S COMPENSATION, DETERMINATIONS BY THE DISINTERESTED PERSONS, USE OF APPROPRIATE COMPARABILITY DATA AND CONTEMPORANEOUS DOCUMENTATION OF THE PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 THE UNIVERSITY MAKES AVAILABLE FORM 990 TO THE PUBLIC FOR INSPECTION THROUGH THE GUIDESTAR WEBSITE - WWW.GUIDESTAR.ORG. THE FORM 990 AND 990-T ARE ALSO PROVIDED UPON REQUEST. THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY, AND OTHER DOCUMENTS CAN BE FOUND AT WWW.FIT.EDU/HR/POLICIES. FORM 990, PART XI, LINE 9 GAMING EXPENSES 68,601 FUNDRAISING EXPENSES 53,545 INSURANCE RECOVERY -44,499 GAMING EXPENSES -68,601 FUNDRAISING EXPENSES -53,545 INSURANCE RECOVERY 44,499 FIT AVIATION LLC FIT AVIATION LLC 801 HARRY GOODE WAY MELBOURNE FL 32901 593746142 FLIGHT INS FL 950840 -352580 NA