2024-05-14T14:14:58-05:00 2023-06-30 135565207 KPMG LLP 8350 BROAD STREET SUITE 900 MCLEAN VA 22102 990 2022-07-01 590936101 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC EMBR 3862266000 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 RANDALL B HOWARD PHD SENIOR VP AND CFO 3862266000 2024-05-14 1 RANDALL HOWARD PHD XXX-XX-XXXX 1 BRIAN KEARNS P02061479 7032868000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RANDALL B HOWARD 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 1193505616 0 X WWW.ERAU.EDU X 1960 FL EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. (UNIVERSITY OR EMBRY-RIDDLE) IS A PRIVATE, CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING. EMBRY-RIDDLE IS THE LARGEST AND OLDEST AVIATION AND AEROSPACE-FOCUSED UNIVERSITY IN THE WORLD. THE UNIVERSITY HAS EVOLVED WITH INDUSTRY TOSERVE THE EVER-CHANGING NEEDS OF AVIATION AND AEROSPACE AND OTHER STEM-RELATED DISCIPLINES. EMBRY-RIDDLE OFFERS PROGRAMS IN SEVEN PRIMARY FIELDS OF STUDY INCLUDING APPLIED SCIENCE, AVIATION, BUSINESS, COMPUTERS AND TECHNOLOGY, ENGINEERING, SAFETY, SECURITY ANDINTELLIGENCE AND SPACE. EMBRY-RIDDLE, THROUGH ITS ACADEMIC PROGRAMS, CONTINUING EDUCATION, AND APPLIED RESEARCH, BENEFITS THE GLOBAL AEROSPACE AND AVIATION INFRASTRUCTURE. THE UNIVERSITY'S EFFORTS SUPPORT THE GROWTH AND TECHNOLOGICAL ADVANCEMENTS ENCOMPASSING THE ENTIRE AVIATION AND AEROSPACE INDUSTRY; THE CONTRIBUTIONS OF EMBRY-RIDDLE STUDENTS, FACULTY AND STAFF TRANSCEND FAR BEYOND THE "STUDENT BODY". 16 15 7731 0 58549 3113 93237010 44304520 596750358 635671636 14444543 22431014 512747 549068 704944658 702956238 151656474 147815746 0 0 265551763 283456713 0 0 3760119 155841276 170386775 573049513 601659234 131895145 101297004 1324755345 1443112700 443680841 443266123 881074504 999846577 X SEE SCHEDULE O.EMBRY-RIDDLE IS THE WORLD LEADER IN AVIATION AND AEROSPACE HIGHER EDUCATION. EMBRY-RIDDLE'S MISSION IS TO TEACH THE SCIENCE, PRACTICE AND BUSINESS OF AVIATION AND AEROSPACE, PREPARING STUDENTS FOR PRODUCTIVE CAREERS AND LEADERSHIP ROLES IN BUSINESS, GOVERNMENT AGENCIES AND THE MILITARY. EMBRY-RIDDLE'S REPUTATION AS A LEADER IN AVIATION AND AEROSPACE HIGHER EDUCATION IS GROUNDED IN ITS AVIATION ROOTS DATING BACK TO 1926. 0 0 475588945 147815746 635703371 EMBRY-RIDDLE IS THE WORLD'S OLDEST AND LARGEST INSTITUTION OF HIGHER EDUCATION FOCUSED ON AVIATION AND AEROSPACE. ITS INNOVATIVE AND AWARD-WINNING PROGRAMS LEAD TO ASSOCIATE, BACHELOR'S, MASTER'S AND DOCTORAL DEGREES, AND PROFESSIONAL EDUCATION (SEMINARS AND SHORT COURSES) TO PART-TIME AND FULL-TIME STUDENTS. 475588945 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 1 1 1 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 1 0 1 469 0 1 7731 1 1 1 1 BR SN GM 0 0 0 1 1 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ FL X X JARE ALLOCCO ALLEN 3863238078 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 MORTEZA HOSSEINI BOARD MEMBER - CHAIR 5.00 0.00 X 0 0 0 JAMES HENDERSON BOARD MEMBER - VICE CHAIR 5.00 0.00 X 0 0 0 JOSEPH MARTIN BOARD MEMBER - TREASURER 3.00 0.00 X 0 0 0 ZANE ROWE BOARD MEMBER - SECRETARY 3.00 0.00 X 0 0 0 MICHAEL AMALFITANO BOARD MEMBER 2.00 0.00 X 0 0 0 JOHN AMORE BOARD MEMBER 2.00 0.00 X 0 0 0 KENNETH DUFOUR BOARD MEMBER 2.00 0.00 X 0 0 0 CHARLES DUVA BOARD MEMBER 2.00 0.00 X 0 0 0 JON SLANGERUP BOARD MEMBER 2.00 0.00 X 0 0 0 DAVID O'MALEY BOARD MEMBER 2.00 0.00 X 0 0 0 GLENN S RITCHEY BOARD MEMBER 2.00 0.00 X 0 0 0 JEAN G ROSANVALLON BOARD MEMBER 2.00 0.00 X 0 0 0 SALLY MASON BOARD MEMBER 2.00 0.00 X 0 0 0 JANET KAVANDI BOARD MEMBER 2.00 0.00 X 0 0 0 NEAL KEATING BOARD MEMBER 2.00 0.00 X 0 0 0 STEVEN NORDLUND BOARD MEMBER 2.00 0.00 X 0 0 0 ROBERT KEYS BOARD MEMBER 2.00 0.00 X 0 0 0 PATRICK BARRY BUTLER PRESIDENT 50.00 0.00 X 894804 0 42344 RANDALL HOWARD SVP, CFO 50.00 0.00 X 573724 0 46619 JOHN WATRET CHANCELLOR, WORLDWIDE 45.00 0.00 X 481320 0 45582 RODNEY CRUISE SVP ADMINISTRATION & COO 40.00 0.00 X 433373 0 46112 LON MOELLER SVP ACADEMIC AFFAIRS & PROVOST 40.00 0.00 X 366524 0 40905 ANETTE KARLSSON CHANCELLOR, PRESCOTT CAMPUS 40.00 0.00 X 342045 0 31158 CHARLES SEVASTOS VICE PRESIDENT & GENERAL COUNSEL 40.00 0.00 X 288418 0 36588 REBECCA VASQUEZ VICE PRESIDENT, CIO 40.00 0.00 X 251051 0 31842 BRANDON YOUNG VICE PRESIDENT, CHRO 40.00 0.00 X 244506 0 34590 JASON RUCKERT SVP, ENROLLMENT MGMT/MKTG 40.00 0.00 X 259283 0 28168 KEVIN KREIDE VICE PRESIDENT, FACILITIES 40.00 0.00 X 204869 0 20883 ALAN STOLZER DEAN, COLLEGE OF AVIATION & PROF 40.00 0.00 X 229742 0 38341 REMZI SEKER VICE PRESIDENT, RESEARCH 40.00 0.00 X 189746 0 23856 STEVEN RIDDER HEAD BASKETBALL COACH DB 40.00 0.00 X 474710 0 40982 SHANAN GIBSON DEAN, COLLEGE OF BUSINESS 40.00 0.00 X 259413 0 26853 JAMES GREGORY DEAN, COLLEGE OF ENGINEERING 40.00 0.00 X 372609 0 45540 ANASTASIOS LYRINTZIS DEPARTMENT CHAIR 40.00 0.00 X 254698 0 37096 RICCARDO BEVILACQUA PROFESSOR AEROSPACE ENGINEERING 40.00 0.00 X 249582 0 40549 FRANCES AYERS FORMER CHANCELLOR, PRESCOTT 40.00 0.00 X 149247 0 15107 6519664 0 673115 400 1 1 0 PERRY MCCALL CONSTRUCTION INC 6104 S GAZEBO PARK PLACE JACKSONVILLE FL 32257 CONSTRUCTION SERVICES 8097078 HOAR CONSTRUCTION LLC TWO METROPLEX DR BIRMINGHAM AL 35209 CONSTRUCTION SERVICES 6914683 COLEMAN GOODEMOTE CONSTRUCTION INC 619 N BEACH ST DAYTONA BEACH FL 32114 CONSTRUCTION SERVICES 3216561 WORKDAY INC 6110 STONERIDGE MALL RD PLEASANTON CA 94588 CONSULTING SERVICES 3154295 IKON 5 ARCHITECTS LLC 864 MAPLETON RD PRINCETON NJ 08540 CONSULTING SERVICES 1842644 118 255781 30335585 13713154 10874621 44304520 HIGHER EDUCATION 611310 635671636 635613087 58549 635671636 19966507 19966507 219318 219318 436277 0 436277 436277 436277 488292495 3824267 489871573 0 -1579078 3824267 2245189 2245189 220395 255781 139339 81056 81056 570201 538466 31735 31735 702956238 635644822 58549 22948347 382114 382114 147418632 147418632 15000 15000 4472941 3887627 585314 213990161 159773307 52411345 1805509 17411737 12237004 4973583 201150 32178474 24760896 6895503 522075 15403400 10895411 4358619 149370 781630 781630 594242 594242 223376 223376 1875741 1875741 23840205 15306108 8418126 115971 3344288 2022900 1315888 5500 10746285 5449299 5292661 4325 17047160 13535445 3273055 238660 15163672 7182605 7981067 10332818 7792614 2471108 69096 4719411 3531715 1169754 17942 10183170 8749077 1434093 41970366 34218760 7751606 8060015 3712287 4347728 EQUIP. RENTAL & MAINT. 11088069 9874197 1212709 1163 FUEL & OIL 6341469 6084838 256631 PRINTING & PUBS 2100016 911608 1170530 17878 MISCELLANEOUS 1105109 814749 287886 2474 869733 697003 149038 23692 601659234 475588945 122310170 3760119 23091306 10303211 377409068 452664096 25386362 19074779 21453924 19710934 5199954 4107163 4894991 6411878 14128841 17015172 1084078903 485697523 586548062 598381380 205085121 226808883 33775156 51161630 27782560 37473574 1324755345 1443112700 46287248 45516629 30184134 35367373 255524175 247283337 65601778 56182190 46083506 58916594 443680841 443266123 X 767590303 871035911 113484201 128810666 881074504 999846577 1324755345 1443112700 X 101297004 17487358 -12289 X 0 1 X 1 1 1 X 36906226 36095261 51495298 93237010 44304520 262038315 36906226 36095261 51495298 93237010 44304520 262038315 20982800 241055515 7477830 7968689 6212250 12544773 20622102 54825644 31777 43487 16737 9659 101660 547812 380006 168751 572207 790596 2459372 319424991 2796513324 0.75470 0.77130 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING - 2018 AMOUNT: $ 90,251. 2019 AMOUNT: $ 15,963. 2020 AMOUNT: $ 57,580. 2021 AMOUNT: $ 131,679. 2022 AMOUNT: $ 220,395. SALES OF INVENTORY - 2018 AMOUNT: $ 457,561. 2019 AMOUNT: $ 364,043. 2020 AMOUNT: $ 111,171. 2021 AMOUNT: $ 440,528. 2022 AMOUNT: $ 570,201. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 223376 0 0 223376 0 SCHEDULE C, PART II-B 1G EMBRY-RIDDLE RETAINS LOBBYING FIRMS AT THE STATE AND FEDERAL LEVELS. EMBRY-RIDDLE'S LOBBYING ACTIVITIES AT THE STATE LEVEL ARE IN SUPPORT OF PROGRAMS THAT BENEFIT STUDENTS OF PRIVATE INSTITUTIONS WITHIN THE STATE AND OTHER POLICY OR FUNDING ISSUES THAT ARE OF INTEREST TO EMBRY-RIDDLE. AT THE FEDERAL LEVEL, EMBRY-RIDDLE'S LOBBYING ACTIVITIES FOCUS ON SUPPORT OF ITS RESEARCH ACTIVITIES AND OTHER EDUCATIONAL INITIATIVES. FEDERAL LOBBYING EFFORTS ALSO FOCUS ON ADVOCATING FOR POLICY DEVELOPMENT WITHIN THE FEDERAL AVIATION ADMINISTRATION (FAA) THAT WILL POSITIVELY IMPACT EMBRY-RIDDLE'S STUDENTS AS THEY PROGRESS THROUGH PILOT OR AIR TRAFFIC MANAGEMENT EDUCATIONAL PROGRAMS - TWO AREAS HEAVILY REGULATED BY THE FAA. EMBRY-RIDDLE WORKS TO MAKE THE FAA AWARE OF HOW POTENTIAL POLICY CHANGES AFFECT COLLEGIATE PROGRAMS. 1929806 X X X 0 0 241076000 22443000 23431000 5389000 281561000 242820000 33920000 -32161000 3503000 241076000 172374000 20075000 56358000 5987000 242820000 161405000 9377000 3074000 1482000 172374000 134498000 22481000 5780000 1354000 161405000 0.64500 0.25400 0.10100 0 0 9759844 9759844 681826785 244213769 437613016 284696152 180102410 104593742 107796122 61381344 46414778 598381380 ROU LEASE LIABILITY 37442000 STUDENT DEPOSITS/ADV PAYMENTS 14727137 ADVANCES, STUDENT LOANS/FIN AID 6631009 ANNUITIES PAYABLE 116448 58916594 X PART X, LINE 2: SCHEDULE D, PART X, LINE 2: EMBRY-RIDDLE IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, EXCEPT FOR UNRELATED BUSINESS INCOME, IS EXEMPT FROM FEDERAL INCOME TAXES. THERE WAS NO PROVISION FOR INCOME TAXES DUE ON UNRELATED BUSINESS INCOME IN FISCAL YEARS 2023 AND 2022, AND THERE ARE NO UNCERTAIN TAX POSITIONS CONSIDERED TO BE MATERIAL. SCHEDULE D, PART III, LINE 4: REFERENCED COLLECTIONS INCLUDE ACCIDENT INVESTIGATION CASE FILES; TECHNICAL PAPERS, REPORTS AND REFERENCE MATERIALS. THE COLLECTION IS OPEN FOR ACADEMIC AND PUBLIC RESEARCH. THE PUBLIC ART COLLECTION IS A SERIES OF 31 PIECES OF FINE ART INCLUDING, BUT NOT LIMITED TO, SCULPTURES, STATUES AND PAINTINGS. THIS COLLECTION SERVES TO ENRICH THE CULTURAL AND EDUCATIONAL ENVIRONMENT OF EMBRY-RIDDLE. SCHEDULE D, PART V, LINE 4: ENDOWMENT FUNDS ARE USED PRIMARILY FOR STUDENT SCHOLARSHIPS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PUBLICATION OF NON-DISCRIMINATORY POLICY EMBRY-RIDDLE PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS WEBSITE AND ADMISSIONS APPLICATIONS, BOTH OF WHICH MAY BE ACCESSED BY THE GENERAL COMMUNITY IT SERVES AND THE PUBLIC. SCHEDULE E, PART I, LINE 6: EMBRY-RIDDLE RECEIVES FINANCIAL ASSISTANCE FROM FEDERAL AND STATE AGENCIES FOR STUDENT FINANCIAL AID AND ACADEMIC RESEARCH. 1 EAST ASIA AND THE PACIFIC 1 58 PROGRAM SERVICES HIGHER EDUCATION 3294256 EUROPE (INCLUDING ICELAND & GREENLAND) 1 19 PROGRAM SERVICES HIGHER EDUCATION 302681 SOUTH AMERICA 1 8 PROGRAM SERVICES HIGHER EDUCATION 56000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 21865986 3 85 0 0 3 85 25518923 0 25518923 EAST ASIA AND THE PACIFIC GENERAL SUPPORT 15000 WIRE 0 1 1 0 1 1 1 0 PART III ACCOUNTING METHOD: GOLF TOURNAMENT 127800 70478 57322 0 0 27541 9722 0 855 GALA 242141 110539 131602 0 0 28746 34579 0 5237 2 106235 74764 31471 0 0 7278 18631 500 6250 476176 255781 220395 63565 62932 500 12342 139339 81056 1 EXPERIMENTAL AIRCRAFT ASSOCIATION INC 3000 POBEREZNY ROAD OSHKOSH WI 54902 390917537 501(C)(3) 67114 0 NATIONAL CONVENTION SPONSORSHIP AND SPONSOR STUDENT MEMBERSHIP MUSEUM OF ARTS AND SCIENCES INC 352 SOUTH NOVA ROAD DAYTONA BEACH FL 32114 591022050 501(C)(3) 10000 0 EXHIBIT SPONSORSHIP BROWN RIVERFRONT ESPLANADE FOUNDATION 249 N BEACH STREET DAYTONA BEACH FL 32114 831769296 501(C)(3) 10000 0 SPONSOR COMMUNITY PROJECT EAGLE FLYING CLUB OF EMBRY-RIDDLE AERONAUTICAL UNIVERSITY 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 593530394 501(C)(4) 0 295000 FAIR MARKET VALUE USED 2012 CESSNA 172 FLIGHT TRNG AIRCRAFT SUPPORT AVIATION CONSISTENT WITH ERAU'S EDUCATIONAL MISSION 3 1 STUDENT FINANCIAL AID 13384 147382632 AMERICAN RESCUE PLAN ACT EMERGENCY FINANCIAL AID GRANTS TO STUDENTS 14 36000 SCHEDULE I, PART I, LINE 2 EMBRY-RIDDLE IS NOT A GRANTMAKING ORGANIZATION PER SE IN THAT ITS FUNDAMENTAL MISSION AND PURPOSE FOR TAX-EXEMPT STATUS RELATES TO EDUCATION. HOWEVER, IN THE COURSE OF ITS MISSION-RELATED ACTIVITIES, EMBRY-RIDDLE DOES MAKE PAYMENTS THAT MEET THE DEFINITION OF "GRANTMAKING" AS DEFINED BY THE INSTRUCTIONS TO SCHEDULE I OF FORM 990. THESE PAYMENTS FALL INTO TWO CATEGORIES: (1) STUDENT FINANCIAL AID: EMBRY-RIDDLE OFFERS STUDENT FINANCIAL AID IN THE FORM OF SCHOLARSHIPS AND GRANTS WHICH ARE PROVIDED BY EMBRY-RIDDLE AND FEDERAL AND STATE GOVERNMENTS. EMBRY-RIDDLE'S FINANCIAL AID IS AWARDED TO STUDENTS WHO DEMONSTRATE ELIGIBILITY BASED ON FINANCIAL NEED, COMPETE IN INTERCOLLEGIATE ATHLETICS, DEMONSTRATE ACADEMIC MERIT, ETC. THE OFFICE OF FINANCIAL AID DETERMINES STUDENTS' ELIGIBILITY FOR NEED-BASED AID. (2) CHARITABLE CONTRIBUTIONS: CHARITABLE CONTRIBUTIONS ARE MADE IN ACCORDANCE WITH EMBRY-RIDDLE POLICY AND ALL APPLICABLE LAWS AND REGULATIONS AND ARE IN ALIGNMENT WITH THE UNIVERSITY'S MISSION. SCHEDULE I, PART III, LINE 2, COLUMN (C) AMOUNTS OF CASH GRANTS REPRESENT AMERICAN RESCUE PLAN ACT EMERGENCY FINANCIAL AID GRANTS TO STUDENTS. X X X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 PATRICK BARRY BUTLER PRESIDENT 615054 0 150730 0 129020 0 30500 0 11844 0 937148 0 0 0 RANDALL HOWARD SVP, CFO 470791 0 100730 0 2203 0 30500 0 16119 0 620343 0 0 0 JOHN WATRET CHANCELLOR, WORLDWIDE 402707 0 75730 0 2883 0 30500 0 15082 0 526902 0 0 0 STEVEN RIDDER HEAD BASKETBALL COACH DB 452174 0 730 0 21806 0 30500 0 10482 0 515692 0 0 0 RODNEY CRUISE SVP ADMINISTRATION & COO 351028 0 80730 0 1615 0 30500 0 15612 0 479485 0 0 0 JAMES GREGORY DEAN, COLLEGE OF ENGINEERING 371285 0 730 0 594 0 30500 0 15040 0 418149 0 0 0 LON MOELLER SVP ACADEMIC AFFAIRS & PROVOST 363268 0 730 0 2526 0 30500 0 10405 0 407429 0 0 0 ANETTE KARLSSON CHANCELLOR, PRESCOTT CAMPUS 334058 0 5730 0 2257 0 30500 0 658 0 373203 0 0 0 CHARLES SEVASTOS VICE PRESIDENT & GENERAL COUNSEL 265934 0 20730 0 1754 0 29156 0 7432 0 325006 0 0 0 ANASTASIOS LYRINTZIS DEPARTMENT CHAIR 252330 0 730 0 1638 0 25563 0 11533 0 291794 0 0 0 RICCARDO BEVILACQUA PROFESSOR AEROSPACE ENGINEERING 145662 0 730 0 103190 0 25595 0 14954 0 290131 0 0 0 JASON RUCKERT SVP, ENROLLMENT MGMT/MKTG 248184 0 10730 0 369 0 26541 0 1627 0 287451 0 0 0 SHANAN GIBSON DEAN, COLLEGE OF BUSINESS 258305 0 730 0 378 0 25899 0 954 0 286266 0 0 0 REBECCA VASQUEZ VICE PRESIDENT, CIO 242985 0 3730 0 4336 0 24832 0 7010 0 282893 0 0 0 BRANDON YOUNG VICE PRESIDENT, CHRO 240126 0 2230 0 2150 0 24645 0 9945 0 279096 0 0 0 ALAN STOLZER DEAN, COLLEGE OF AVIATION & PROF 227547 0 730 0 1465 0 23438 0 14903 0 268083 0 0 0 KEVIN KREIDE VICE PRESIDENT, FACILITIES 201852 0 2230 0 787 0 20396 0 487 0 225752 0 0 0 REMZI SEKER VICE PRESIDENT, RESEARCH 122287 0 0 0 67459 0 16396 0 7460 0 213602 0 0 0 FRANCES AYERS FORMER CHANCELLOR, PRESCOTT 141456 0 730 0 7061 0 14806 0 301 0 164354 0 0 0 SCHEDULE J PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL HAS BEEN APPROVED FOR THE PRESIDENT AND HIS SPOUSE (WHEN TRAVELING FOR A BONA FIDE BUSINESS PURPOSE OF THE UNIVERSITY; PLEASE SEE BELOW) BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND AS STATED IN THE PRESIDENT'S EMPLOYMENT CONTRACT. CABINET MEMBERS AND OTHER EMPLOYEES MAY TRAVEL FIRST- OR BUSINESS/PREMIUM-CLASS, BASED ON CERTAIN CONDITIONS, AS PER THE UNIVERSITY'S TRAVEL POLICY (E.G., TRAVEL INVOLVING FLIGHT SEGMENTS OVER SIX HOURS, RED-EYE FLIGHTS THAT SAVE LODGING EXPENSE, CASES WHERE THE TRAVELER HAS A DOCUMENTED PHYSICAL DISABILITY OR LIMITATION, ETC.). PREAPPROVAL OF FIRST- OR BUSINESS/PREMIUM-CLASS OR CHARTER TRAVEL IS REQUIRED BY THE EMPLOYEE'S SENIOR LEADERSHIP AND THE SENIOR VICE PRESIDENT AND CFO OR PRESIDENT. TRAVEL FOR SPOUSE/COMPANION - A SPOUSE/COMPANION OF CABINET MEMBERS, TRUSTEES, AND OTHER EMPLOYEES OF EMBRY-RIDDLE MAY TRAVEL TO FUNCTIONS OR OTHER EVENTS RELATED TO THE ONGOING BUSINESS OF EMBRY-RIDDLE. EMBRY-RIDDLE WILL REIMBURSE FOR SPOUSE/COMPANION TRAVEL ONLY WHEN THERE IS A BONA FIDE BUSINESS PURPOSE FOR THE PRESENCE OF THE SPOUSE/COMPANION. ALL SPOUSE/COMPANION TRAVEL TO BE REIMBURSED MUST BE PREAPPROVED BY AN INDIVIDUAL IN THE EMPLOYEE'S SUPERVISORY CHAIN WHO IS A SENIOR LEADER AND BY THE SENIOR VICE PRESIDENT AND CFO. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - HOUSING ALLOWANCE IS PROVIDED TO THE PRESIDENT AS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND STATED IN THE PRESIDENT'S EMPLOYMENT CONTRACT. HOUSING IS PROVIDED TO A KEY EMPLOYEE. THE HOUSING IS FURNISHED ON THE BUSINESS PREMISES OF EMBRY-RIDDLE, AT THE CONVENIENCE OF EMBRY-RIDDLE, AND THE EMPLOYEE IS REQUIRED TO ACCEPT SUCH LODGING AS A CONDITION OF EMPLOYMENT. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES - DUES FOR THE PRESIDENT ARE AS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND STATED IN THE PRESIDENT'S EMPLOYMENT CONTRACT FOR BUSINESS AND FUNDRAISING PURPOSES. SCHEDULE J PART I, LINE 7 NONFIXED PAYMENTS SELECT PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1, RECEIVED AN ADDITIONAL PERFORMANCE BASED BONUS. ADDITIONALLY, ALL REFERENCED EMPLOYEES RECEIVED TWO BONUSES (HOLIDAY AND CALENDAR YEAR-END) IN THE SAME AMOUNTS THAT ALL ELIGIBLE UNIVERSITY EMPLOYEES RECEIVED. A VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY (2015A) 800000613 000000000 2015-02-12 50740000 PARTIALLY REFUND SERIES 2005 0 0 0 B VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY (2015B) 800000613 928836KYO 2015-03-23 76273696 CONSTRUCTION AND CAPITAL IMPROVEMENTS 1 0 0 C VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY (2015C) 800000613 000000000 2015-07-17 26535000 PARTIALLY REFUND SERIES 2005 0 0 0 D VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY (2017) 800000613 928836MP7 2017-08-17 54335668 REFUND SERIES 2011 AND CONSTRUCTION 0 0 0 A 22020000 50740000 324722 50415278 2015 0 1 1 1 B 12055000 16205000 76299686 773696 75525928 62 2018 0 0 1 1 C 15240000 26535000 105499 26429501 2015 1 0 1 1 D 56115492 462990 43779824 11872678 2019 0 1 1 1 A 0 0 1 0 1 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 1 0 0 0.01860 0.01860 0 0 1 D 0 0 0 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, ROW A, COLUMN F 02/12/2015 50,740,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - SERIES 2015A - PARTIAL REFUNDING - SERIES 2005 ISSUE DATED 08/18/2005. SCHEDULE K, PART I, ROW B, COLUMN F 03/23/2015 76,273,696 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - SERIES 2015B - NEW MONEY/CONSTRUCTION. SCHEDULE K, PART I, ROW C, COLUMN F 07/17/2015 26,535,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - SERIES 2015C - REFUNDING - PARTIAL REFUNDING SERIES 2005 ISSUE DATED 08/18/2005. SCHEDULE K, PART I, ROW D, COLUMN F 08/17/2017 54,335,668 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - SERIES 2017 - ADVANCE REFUNDING SERIES 2011 ISSUE DATED 07/07/2011 AND NEW MONEY/CONSTRUCTION. SCHEDULE K, PART II, LINE 3, COLUMN B 03/23/2015 76,273,696 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - TOTAL PROCEEDS OF ISSUE DIFFERS FROM THE ISSUE PRICE AS THE AMOUNT INCLUDES INVESTMENT EARNINGS. SCHEDULE K, PART II, LINE 3, COLUMN B 08/17/2017 54,335,668 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - TOTAL PROCEEDS OF ISSUE DIFFERS FROM THE ISSUE PRICE AS THE AMOUNT INCLUDES INVESTMENT EARNINGS. SCHEDULE K, PART II, LINE 11, COLUMN A 02/12/2015 50,740,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE. SCHEDULE K, PART II, LINE 11, COLUMN B 03/23/2015 76,273,696 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - OTHER SPENT PROCEEDS WERE TRANSFERRED TO THE INTEREST FUND. SCHEDULE K, PART II, LINE 11, COLUMN C 07/17/2015 26,535,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE. SCHEDULE K, PART IV, LINE 2C, COLUMN A 02/12/2015 50,740,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - FIVE YEAR REBATE COMPUTATION COMPLETED 02/12/2020. ANNUAL REBATE COMPUTATION COMPLETED 06/30/2023. SCHEDULE K, PART IV, LINE 2C, COLUMN B 03/23/2015 76,273,696 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - FIVE YEAR REBATE COMPUTATION COMPLETED 03/23/2020. ANNUAL REBATE COMPUTATION COMPLETED 06/30/2023. SCHEDULE K, PART IV, LINE 2A, COLUMN C 07/17/2015 26,535,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - FIVE YEAR REBATE COMPUTATION COMPLETED 07/17/2020. ANNUAL REBATE COMPUTATION COMPLETED 06/30/2023. SCHEDULE K, PART IV, LINE 2A, COLUMN D 08/17/2017 54,335,668 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - FIVE YEAR REBATE COMPUTATION COMPLETED 08/17/2022. ANNUAL REBATE COMPUTATION COMPLETED 06/30/2023. SCHEDULE K, PART I ADDITIONAL PAGES, ROW A, COLUMN F 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - SERIES 2020A - CURRENT REFUNDING SERIES 2013 ISSUE DATED 11/08/2013, PARTIAL CURRENT REFUNDING OF SERIES 2015B ISSUE DATED 03/23/2015 AND NEW MONEY/CONSTRUCTION. SCHEDULE K, PART II ADDITIONAL PAGES, LINE 3, COLUMN B 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - TOTAL PROCEEDS OF ISSUE DIFFERS FROM THE ISSUE PRICE AS THE AMOUNT INCLUDES INVESTMENT EARNINGS. SCHEDULE K, PART II ADDITIONAL PAGES, LINE 11, COLUMN A 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE. SCHEDULE K, PART II ADDITIONAL PAGES, LINE 12, COLUMN A 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - THE OTHER UNSPENT PROCEEDS ARE THE BALANCE OF PROCEEDS IN THE CONSTRUCTION FUND. SCHEDULE K, PART IV, ADDITIONAL PAGES, LINE 2A, COLUMN A 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTH. - ANNUAL REBATE COMPUTATION COMPLETED 06/30/2023. A VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY (2020A) 800000613 928836NC5 2020-01-16 118087855 REFUND SERIES 2013, 2015B AND CONST. 0 0 0 A 3280000 118529733 754775 87185574 27241130 3348254 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 1 1 A 1 144636 FIN AID/WAIVER GEN SUPP HF COMMERCIAL LAND HOLDINGS LLC TRUSTEE HOSSEINI IS A PRINCIPAL AT THE ORGANIZATION LISTED ABOVE. 346261 LEASE SPACE 0 INTERVEST CONSTRUCTION INDUSTRIES LLC TRUSTEE HOSSEINI IS A PRINCIPAL AT THE ORGANIZATION LISTED ABOVE. 383713 LEASE SPACE 0 ICI HOMES RESIDENTIAL HOLDINGS LLC TRUSTEE HOSSEINI IS A PRINCIPAL AT THE ORGANIZATION LISTED ABOVE. 128830 LEASE SPACE 0 ELIZABETH MATHEWS FAMILY MEMBER OF KEY EMPLOYEE 71773 PAYMENT OF COMPENSATION 0 SCHEDULE L, PART IV: ALL BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS AS DISCLOSED IN PART IV ARE CONDUCTED IN ACCORDANCE WITH THE UNIVERSITY'S NORMAL BUSINESS PRACTICES. X 3 350 COMPARE MKT VALUE X 6287 STATED FACE VALUE X 1 5000 STATED FACE VALUE X 11 10608285 PUBLIC EXCHANGE X 13 5475 STATED FACE VALUE X 35 1825 STATED FACE VALUE X 1 1897 STATED FACE VALUE X EQUIPMENT 7 213772 STATED FACE VALUE X GIFT CERT 84 31730 STATED FACE VALUE 0 0 1 0 PART I, COLUMN (B): THIS COLUMN REPRESENTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES, THE SENIOR VICE PRESIDENT AND CFO AND INDEPENDENT TAX ACCOUNTANTS. ALL MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED AN ELECTRONIC COPY OF THE COMPLETE FORM PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EMBRY-RIDDLE'S INTERNAL AUDIT, RISK AND COMPLIANCE DEPARTMENT ANNUALLY ISSUES AND RECEIVES CONFLICT OF INTEREST DISCLOSURE FORMS FROM EMBRY-RIDDLE EMPLOYEES AND THE BOARD OF TRUSTEES. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED, EVALUATED AND MONITORED BY EMBRY-RIDDLE'S VICE PRESIDENT AND GENERAL COUNSEL. CONFLICTS INVOLVING EMBRY-RIDDLE EMPLOYEES ARE EITHER RESOLVED OR FORWARDED TO HUMAN RESOURCES AND THE PARTICULAR EMPLOYEE'S SUPERVISORY CHAIN OF COMMMAND FOR DISCIPLINARY ACTION FOR AN UNRESOLVED CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 FOR THE PRESIDENT AND OTHER KEY EMPLOYEES (EMBRY-RIDDLE'S SENIOR VICE PRESIDENTS, CAMPUS CHANCELLORS, THE PROVOST, AND GENERAL COUNSEL), AN INDEPENDENT SEARCH CONSULTANT IS TYPICALLY RETAINED. SALARY DATA FROM COMPARABLE INSTITUTIONS ARE USED IN THE DETERMINATION OF AN INITIAL SALARY RANGE. THE COMPENSATION OFFER IS BASED ON THAT RANGE AND THE CANDIDATE'S SPECIFIC CREDENTIALS AND EXPERIENCE. ADDITIONALLY, THE PRESIDENT AND/OR THE SENIOR VICE PRESIDENT AND CFO IS REQUIRED TO APPROVE ANY BASE SALARY OVER $200,000. FOR ANNUAL CHANGES TO THE PRESIDENT'S COMPENSATION, THE BOARD CHAIR CONSIDERS INFORMATION FROM VARIOUS SOURCES SUCH AS THE CHRONICLE OF HIGHER EDUCATION, COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION HR (CUPA-HR), AND OTHER INSTITUTIONS IN THE STATE OF FLORIDA. THE BOARD CHAIR REVIEWS THE PRESIDENT'S PERFORMANCE WITH THE EXECUTIVE COMMITTEE OF THE BOARD AND DETERMINES ANY CHANGES IN COMPENSATION. FOR OTHER KEY EMPLOYEES, THE PRESIDENT CONDUCTS AN ANNUAL EVALUATION BASED ON EXPECTED PERFORMANCE METRICS. BASED ON THE PERFORMANCE ASSESSMENT AND A REVIEW OF PUBLICLY AVAILABLE SALARY DATA FOR SIMILAR EXECUTIVE POSITIONS IN HIGHER EDUCATION, THE PRESIDENT DEVELOPS COMPENSATION RECOMMENDATIONS THAT ARE SHARED WITH THE BOARD CHAIR. THE BOARD CHAIR AND THE PRESIDENT DISCUSS EACH RECOMMENDATION. THE BOARD CHAIR OFTEN INCORPORATES ADDITIONAL HIGHER EDUCATION COMPENSATION DATA AND THEN CONSULTS WITH THE BOARD'S EXECUTIVE COMMITTEE. THE MEETINGS ARE DOCUMENTED IN AN AGENDA AND THE PRESIDENT RETAINS THE RELEVANT INFORMATION. FORM 990, PART VI, SECTION C, LINE 19 EMBRY-RIDDLE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 AND AUDITED CONSOLIDATED FINANCIAL STATEMENTS ARE DISCLOSED ON EMBRY-RIDDLE'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -12,289. EMBRY-RIDDLE BRASIL PARTICIPACOES LTDA RUA ELVIRA FERRAZ 250 CJ616 SAO PAULO BR 04552-040 981380920 HIGHER ED BR 364171 1565141 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC EMBRY-RIDDLE AERONAUTICAL DEUTSCHLAND GMBH HOLM BESSIE-COLEMAN-STR 7 FRANKFURT GM 60549 981424758 HIGHER ED GM 370649 478982 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC EMBRY-RIDDLE AERONAUTICAL UNIV ASIA LTD 75 BUKIT TIMAH RD 02-01 BOON SIE SINGAPORE SN 229833 980681431 HIGHER ED SN 501(C)(3) LINE 2 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC 1 EAGLE FLYING CLUB OF ERAU 1 AEROSPACE BOULEVARD DAYTONA BEACH FL 32114 593530394 AIRCRAFT RENTAL FL 501(C)(4) EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC 1 ERAU ASIA INSTITUTE LTD 75 BUKIT TIMAH ROAD 02-01/02 BOON SIEW SN 229833 HIGHER EDUCATION SN C 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 EMBRY-RIDDLE AERONAUTICAL UNIV ASIA LTD B 15000 CASH TRANSFER EMBRY-RIDDLE AERONAUTICAL DEUTSCHLAND GMBH P 370948 CASH TRANSFER