2021-05-14T19:19:50-05:00 2020-06-30 KPMG LLP 8350 Broad Street Suite 900 McLean VA 22102 990 2019-07-01 590936101 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC % JARE ALLOCCO ALLEN EMBR 3862266000 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 RANDALL B HOWARD PHD Senior VP and CFO 2021-05-12 true Raymond Ly P01205643 7032868000 2021-05-14 2019 2022-09-23 18:48:47Z RANDALL B HOWARD PHD 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 568399647 false X www.erau.edu X 1960 FL Embry-Riddle Aeronautical University,Inc. (ERAU) is a private co-educational institution of higher learning. ERAU has long been the established leader (continued on Sch. O) 17 16 7286 0 57225 0 36906226 36095261 492206021 516970894 6886659 8184287 556045 491664 536554951 561742106 104620639 118622193 0 0 237333152 247302649 0 0 2775051 125602989 132649188 467556780 498574030 68998171 63168076 886582465 1097177529 298928188 444811915 587654277 652365614 X ERAU IS THE WORLD LEADER IN AVIATION AND AEROSPACE HIGHER EDUCATION. ERAU'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. 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CHAIR 5.0 0.0 X 0 0 0 James Henderson Board Member - Vice CHAIR 5.0 0.0 X 0 0 0 Joseph Martin Board Member - Treasurer 3.0 0.0 X 0 0 0 Zane Rowe Board Member - Secretary 3.0 0.0 X 0 0 0 John Amore Board Member 2.0 0.0 X 0 0 0 Kenneth Dufour Board Member 2.0 0.0 X 0 0 0 Charles Duva Board Member 2.0 0.0 X 0 0 0 Ronald Keys Board Member 2.0 0.0 X 0 0 0 Jon Slangerup Board Member 2.0 0.0 X 0 0 0 David O'Maley Board Member 2.0 0.0 X 0 0 0 Glenn S Ritchey Board Member 2.0 0.0 X 0 0 0 David Robertson Board Member 2.0 0.0 X 0 0 0 Jean G Rosanvallon Board Member 2.0 0.0 X 0 0 0 Sally Mason Board Member 2.0 0.0 X 0 0 0 Janet Kavandi Board Member 2.0 0.0 X 0 0 0 Neal Keating Board Member 2.0 0.0 X 0 0 0 Steven Nordlund Board Member 2.0 0.0 X 0 0 0 5259048 0 549308 324 false true false Perry McCall Construction Inc 6104 South Gazebo Park Place JACKSONVILLE FL 32257 Construction Svcs 15122516 Sodexo Inc and Affiliates 600 S Clyde Morris Blvd DAYTONA BEACH FL 32114 Dining and Bldg Svcs 2171022 WFF Facility Services 211 S Jefferson Ave ST LOUIS MO 63103 Facility Svcs 2139217 Fann Contracting Inc 6725 Generation Ln PRESCOTT AZ 86301 Construction Svcs 1978222 Oracle America Inc 500 Oracle Pkwy Mail Stop 20 REDWOOD CA 94065 Technical Sppt Svcs 1262690 88 16622 24421995 11656644 549648 36095261 HIGHER EDUCATION 611310 516970894 516924394 46500 516970894 7280563 7280563 232399 232399 0 455727 10725 455727 10725 466452 10725 455727 5919571 1054501 5883400 419347 36171 635154 671325 671325 15963 16622 6519 9444 9444 0 0 0 364043 348275 15768 15768 0 561742106 516940162 57225 8649458 137500 137500 118484693 118484693 0 0 3949636 3949636 0 187273717 140019148 45307222 1947347 14365771 10537958 3681254 146559 27889447 20458200 7146720 284527 13824078 10140601 3542444 141033 0 233604 233604 447131 447131 394856 394856 0 1057668 1057668 16841381 10515426 6262694 63261 1208963 830155 376738 2070 9378154 4650732 4712416 15006 2800696 1676392 1123290 1014 0 12230312 6504619 5725693 6333933 4689873 1570123 73937 0 2076843 1624260 438267 14316 7950061 7296667 653394 0 37105043 32998965 4106078 4412643 1729473 2683170 EQUIPMENT RENTAL 18938549 8542712 10389837 6000 LOSS ON DISPOSALS 3250102 2679836 570266 FUEL AND OIL 3149903 2996036 153867 POSTAGE, SHIPPING, PRINTING 2840580 1297909 1466031 76640 1998766 877223 1118202 3341 498574030 389083234 106715745 2775051 X 12938825 20268721 171944133 243374460 6098797 5441984 13259440 15304384 0 0 0 0 10722551 8577941 3562677 3942215 7281032 8574253 919572685 403685918 497136756 515886767 145628573 227819140 15766409 16553219 0 0 0 0 2243272 31434445 886582465 1097177529 35877669 48937463 0 0 22201433 32748863 207375313 271742564 0 0 0 0 13379062 38259969 0 0 20094711 53123056 298928188 444811915 X 516393914 574692674 71260363 77672940 587654277 652365614 886582465 1097177529 X 63168076 1543261 X false true X true true true X 9612360 15825404 15535121 36906226 36095261 113974372 0 0 9612360 15825404 15535121 36906226 36095261 113974372 6791725 107182647 2247196 3708537 5352837 7477830 7968689 26755089 0 0 0 0 0 0 0 140729461 2393788664 0.76162 0.74580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 394856 false false 394856 false Schedule C, Part II-B 1g ERAU RETAINS LOBBYING FIRMS AT THE STATE AND FEDERAL LEVELS. ERAU'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 ERAU. AT THE FEDERAL LEVEL, ERAU'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 ERAU'S STUDENTS AS THEY PROGRESS THROUGH PILOT OR AIR TRAFFIC MANAGEMENT EDUCATIONAL PROGRAMS - TWO AREAS HEAVILY REGULATED BY THE FAA. ERAU WORKS TO MAKE THE FAA AWARE OF HOW POTENTIAL POLICY CHANGES AFFECT COLLEGIATE PROGRAMS. 1929806 X X false false 161405000 9377000 3074000 1482000 172374000 134498000 22481000 5780000 1354000 161405000 124599000 1033000 10200000 1334000 134498000 107307000 3163000 15260000 1131000 124599000 93183000 16787000 -133000 2530000 107307000 0.63000 0.26000 0.11000 false false 9510859 9510859 580889675 197111554 383778121 233550655 155986249 77564406 95621496 50588115 45033381 515886767 0 RIGHT OF USE OPERATING LEASE LIABILITIES 30317962 STUDENT DEPOSITS/ADV PAYMENTS 14362507 ADVANCES, STUDENT LOANS/FIN AID 8347082 ANNUITIES PAYABLE 95505 53123056 X 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 27 PIECES OF FINE ART INCLUDING, BUT NOT LIMITED TO, SCULPTURES, STATUES AND PAINTINGS. THIS COLLECTION SERVES TO ENRICH THE CULTURAL AND EDUCATIONAL ENVIRONMENT OF ERAU. SCHEDULE D, PART V, LINE 4 ENDOWMENT FUNDS ARE USED PRIMARILY FOR STUDENT SCHOLARSHIPS. SCHEDULE D, PART X, LINE 2 ERAU IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS AMENDED 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 2020 AND 2019, AND THERE ARE NO UNCERTAIN TAX POSITIONS CONSIDERED TO BE MATERIAL. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 PUBLICATION OF NON-DISCRIMINATORY POLICY ERAU 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 ERAU RECEIVES FINANCIAL ASSISTANCE FROM FEDERAL AND STATE AGENCIES FOR STUDENT FINANCIAL AID AND ACADEMIC RESEARCH. true East Asia and the Pacific 1 17 Program Services Higher Education 3513979 Europe (Including Iceland and Greenland) 1 6 Program Services Higher Education 302681 South America 1 7 Program Services Higher Education 56000 Central America and the Caribbean Investments 8440124 3 30 3 30 12312784 12312784 true false true true true false Golf Tournament 32585 16622 15963 6099 107 313 0 32585 16622 15963 6099 107 313 6519 9444 true Experimental Aircraft Association Inc 3000 Poberezny Road Oshkosh WI 54902 390917537 501(c)(3) 92500 National Convention sponsorship Museum of Arts and Sciences Inc 352 South Nova Road Daytona Beach FL 32114 591022050 501(c)(3) 10000 Exhibit sponsorship Museum of Flight Foundation 9404 East Marginal Way S Seattle WA 98108 910785826 501(c)(3) 10000 Award Event sponsorship Team Volusia Economic Development Corp One Daytona Blvd Suite 240 Daytona Beach FL 32114 273203032 501(c)(6) 10000 Organization sponsorship National Aviation Hall of Fame PO Box 31096 Dayton OH 45437 237117952 501(c)(3) 8000 Enshrinement Event sponsorship Daytona Regional Chamber of Commerce 126 East Orange Ave Daytona Beach FL 32114 590215990 501(c)(6) 7000 Organization sponsorship 4 2 Student Financial Aid 19564 116652802 FMV Financial Assistance CARES Act Emergency Financial Aid Student Grants 1404 1831891 SCHEDULE I, PART I, LINE 2 ERAU 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, ERAU 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: ERAU OFFERS STUDENT FINANCIAL AID IN THE FORM OF SCHOLARSHIPS AND GRANTS WHICH ARE PROVIDED BY ERAU AND FEDERAL AND STATE GOVERNMENTS. ERAU'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 ERAU POLICY AND ALL APPLICABLE LAWS AND REGULATIONS. Schedule I, Part III, Line 2, Column (C) AMOUNTS OF CASH GRANTS REPRESENT CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT EMERGENCY FINANCIAL AID GRANTS TO STUDENTS. X X X X true true X X X X true false false false false false false true false P Barry Butler President 542658 0 115130 0 115948 0 26600 0 15134 0 815470 0 0 0 Randall Howard SVP, CFO 413426 0 60130 0 3013 0 26600 0 15128 0 518297 0 0 0 John Watret Chancellor, Worldwide Campus 365994 0 50130 0 1895 0 26600 0 15966 0 460585 0 0 0 Rodney Cruise SR VP for Admin, COO 306856 0 60130 0 1887 0 26600 0 7192 0 402665 0 0 0 LON MOELLER SVP ACADEMIC AFFAIRS PROVOST 344570 0 5130 0 1802 0 26600 0 15946 0 394048 0 0 0 FRANCIS AYERS Chancellor, Prescott, AZ Campu 261245 0 40130 0 19636 0 26519 0 348 0 347878 0 0 0 Marc Archambault SVP Philanthropy Alumni Engage 226388 0 30130 0 1291 0 25009 0 10948 0 293766 0 0 0 CHARLIE SEVASTOS VP and General Counsel 235425 0 20130 0 1590 0 24708 0 6749 0 288602 0 0 0 Brandon Young Vice President, CHRO 208589 0 3630 0 1484 0 20719 0 14958 0 249380 0 0 0 REBECCA VASQUEZ VICE PRESIDENT, CIO 213864 0 3630 0 1357 0 20650 0 385 0 239886 0 0 0 ANNE BRODERICK BOTTERI VP MARKETING COMMUNICATIONS 169363 0 0 0 36447 0 14858 0 4742 0 225410 0 0 0 STEVEN RIDDER Head Basketball Coach (DB) 443184 0 130 0 2085 0 26600 0 16007 0 488006 0 0 0 MAJ DEAN MIRMIRANI SVP ACADEMIC AFFAIRS/RESEARCH 252533 0 130 0 1243 0 24004 0 974 0 278884 0 0 0 SCOTT SHAPPELL Department Chair 232515 0 130 0 375 0 22584 0 15851 0 271455 0 0 0 CHRISTINA FREDERICK PROFESSOR 235252 0 130 0 99 0 22751 0 10435 0 268667 0 0 0 ANASTASIOS LYRINTZIS DEPARTMENT CHAIR 226953 0 130 0 1131 0 22169 0 14974 0 265357 0 0 0 SCHEDULE J PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL HAS BEEN APPROVED FOR THE PRESIDENT AND HIS SPOUSE 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. 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 ERAU MAY TRAVEL TO FUNCTIONS OR OTHER EVENTS RELATED TO THE ONGOING BUSINESS OF ERAU. ERAU 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 ERAU, AT THE CONVENIENCE OF ERAU, 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 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 4A ANNE BRODERICK BOTTERI RECEIVED A SEVERANCE PAYMENT OF $33,408 DURING 2019. 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 RECEIVE A HOLIDAY BONUS IN THE SAME AMOUNT THAT ALL UNIVERSITY EMPLOYEES RECEIVE. A VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY 800000613 000000000 2015-02-12 50740000 PARTIALLY REFUND SERIES 2005 false false false B VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY 800000613 928836KYO 2015-03-23 76273696 CONSTRUCTION AND CAPITAL IMPROVEME true false false C VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY 800000613 000000000 2015-07-17 26535000 Partially Refund Series 2005 false false false D VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY 800000613 928836MP7 2017-08-17 54335668 REFUND SERIES 2011 AND CONSTRUCTIO false false false A 12835000 0 50740000 0 0 0 324722 0 0 0 50415278 0 false true true true B 1325000 26265000 76299686 0 0 0 773696 0 0 75525928 62 0 2018 false false true true C 7635000 0 26535000 0 0 0 105499 0 0 0 26429501 0 true false true true D 0 0 55311131 0 0 11068317 462990 0 0 0 43779824 0 2019 false true false true A false false true false true false 0 false false false true B false false false false 0 false false false true C false false true false false 0.01860 0.01860 false false false true D false false false true false 0 false false false true A false true false false 0 false 0 false true B false true false false 0 false 0 false true C false true false false 0 false 0 false true D false true false false 0 false 0 false true A true B true C true D true SCHEDULE K, PART I, ROW A, COLUMN F 02/12/2015 50,740,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - SERIES 2015A - PARTIAL REFUNDING - SERIES 2005 ISSUE DATED 8/18/2005. SCHEDULE K, PART I, ROW B, COLUMN F 03/23/2015 76,273,696 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - SERIES 2015B - NEW MONEY/CONSTRUCTION. SCHEDULE K, PART I, ROW C, COLUMN F 07/01/2015 26,535,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - SERIES 2015C - REFUNDING - PARTIAL REFUNDING SERIES 2005 ISSUE DATED 8/18/2005. SCHEDULE K, PART I, ROW D, COLUMN F 08/17/2017 54,335,668 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - SERIES 2017 - ADVANCE REFUNDING SERIES 2011 ISSUE DATED 7/7/2011 AND NEW MONEY/CONSTRUCTION. SCHEDULE K, PART II, LINE 11, COLUMN A 02/12/2015 50,740,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - THE 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 AUTHORITY - THE OTHER SPENT PROCEEDS WERE TRANSFERRED TO THE INTEREST FUND. SCHEDULE K, PART II, LINE 11, COLUMN C 07/01/2015 26,535,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - THE 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 AUTHORITY - ANNUAL REBATE COMPUTATIONS COMPLETED 6/30/20. 5-YEAR ANNIVERSARY REBATE COMPUTATIONS COMPLETED 2/12/20. SCHEDULE K, PART IV, LINE 2C, COLUMN B 03/23/2015 76,273,696 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - ANNUAL REBATE COMPUTATIONS COMPLETED 6/30/20. 5-YEAR ANNIVERSARY REBATE COMPUTATIONS COMPLETED 3/23/20. SCHEDULE K, PART IV, LINE 2A, COLUMN C 07/17/2015 26,535,000 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - ANNUAL REBATE COMPUTATIONS COMPLETED 6/30/20. SCHEDULE K, PART IV, LINE 2A, COLUMN D 08/17/2017 54,335,668 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - ANNUAL REBATE COMPUTATIONS COMPLETED 6/30/20. SCHEDULE K, PART I ADDITIONAL PAGES, ROW A, COLUMN F 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - SERIES 2020A - CURRENT REFUNDING SERIES 2013 ISSUE DATED 11/8/2013, PARTIAL CURRENT REFUNDING OF SERIES 2015B ISSUE DATED 3/23/2015 AND NEW MONEY/CONSTRUCTION. SCHEDULE K, PART II ADDITIONAL PAGES, LINE 11, COLUMN A 01/16/2020 118,087,855 VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY - THE 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 AUTHORITY - THE OTHER UNSPENT PROCEEDS ARE THE BALANCE OF THE 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 AUTHORITY - ANNUAL REBATE COMPUTATIONS COMPLETED 6/30/20. A VOLUSIA COUNTY EDUCATIONAL FACILITIES AUTHORITY 800000613 928836NC5 2020-01-16 118087855 REFUND SERIES 2013, 2015B AND CONS false false false A 0 0 118087855 0 0 0 777214 0 0 21230843 27241130 68838668 true false false true A false false false true false 0 false false false true A false true false false 0 false 0 false true A true Brown Brown of FL Inc Significant Contributor 3137661 Insurance services false HF COMMERCIAL INVESTMENTS LLLP TRUSTEE HOSSEINI, PRINCIPAL 191367 LEASE OFFICE SPACE false HF COMMERCIAL LAND HOLDINGS LLC TRUSTEE HOSSEINI, PRINCIPAL 115072 LEASE OFFICE SPACE false INTERVEST CONSTRUCTION INDUSTRIES TRUSTEE HOSSEINI, PRINCIPAL 443498 LEASE OFFICE SPACE false SIGNATURES EXECUTIVE PARK OWNERS TRUSTEE HOSSEINI, PRINCIPAL 161812 LEASE OFFICE SPACE false X 1 180 STATED FACE VALUE X 1270 STATED FACE VALUE X 1 50765 STATED FACE VALUE X 2 33000 Indep. appraisal X 23 349707 PUBLIC EXCHANGE X 1 30 STATED FACE VALUE X 6 57260 STATED FACE VALUE X Computers/equipment 1 51040 STATED FACE VALUE X GIFT CERTS/REAL PROPERTY 23 6396 STATED FACE VALUE false true false FORM 990 PART I, LINE 1 (continued from page 1) IN AERONAUTICS AND AEROSPACE EDUCATION, AND ERAU'S AVIATION BACKGROUND HAS EXPANDED OVER THE YEARS TO INCLUDE SEVEN PRIMARY FIELDS OF STUDY: APPLIED SCIENCE, AVIATION, BUSINESS, COMPUTERS AND TECHNOLOGY, ENGINEERING, SPACE, AND SAFETY, SECURITY AND INTELLIGENCE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE SENIOR VICE PRESIDENT/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 ERAU'S INTERNAL AUDIT, RISK AND COMPLIANCE DEPARTMENT ANNUALLY ISSUES AND RECEIVES CONFLICT OF INTEREST DISCLOSURE FORMS FROM ERAU EMPLOYEES AND THE BOARD OF TRUSTEES. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED, EVALUATED AND MONITORED BY ERAU'S VICE PRESIDENT AND GENERAL COUNSEL. CONFLICTS INVOLVING ERAU 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 (ERAU'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 IS REQUIRED TO APPROVE ANY SALARY OVER $200,000. FOR ANNUAL CHANGES IN THE PRESIDENT'S COMPENSATION, THE BOARD CHAIR OBTAINS INPUT FROM THE VICE PRESIDENT AND CHIEF HUMAN RESOURCES OFFICER AND OTHER SOURCES SUCH AS THE CHRONICLE OF HIGHER EDUCATION 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 ERAU 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 ERAUS WEBSITE. 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