2020-07-14T16:07:26-07:00 2019-06-30 990 2018-07-01 590668483 FLORIDA MEMORIAL UNIVERSITY INC FLOR 3054300339 15800 NW 42nd AVENUE MIAMI GARDENS FL 330546155 Rodney Sobelson Controller 3056263614 2020-07-15 50.202.78.194 2018 2021-01-29 14:40:06Z Rodney Sobelson 15800 NW 42nd Avenue Miami Gardens FL 33054 36531550 0 X FMUNIV.EDU X 1862 FL HIGHER EDUCATION 27 26 301 0 0 0 10563722 11994757 24575787 23683287 282833 431933 201610 421573 35623952 36531550 4186943 4936431 0 0 13028392 14322111 0 0 679270 18653010 16643585 35868345 35902127 -244393 629423 92007009 91744968 43234676 45598596 48772333 46146372 Education - Florida Memorial University endeavors to instill in students the importance of becoming global citizens through life-long learning, leadership, character, and service, which will enhance their lives and the lives of others. 0 0 2880092 417735 163790 Student Services Programs: Support services and activities surrounding students. The University has approximately 1,100 students. 1608404 780513 13918236 Academic Support: Educational Delivery; General & Other: Support Staff (Deans, secretaries, and administration) to carry out the functional support duties of the instructional unit (~1,100 students). 4166672 666893 600190 Instructional: The University offers programs designed to liberally educate students in a postindustrial, high technology society. There are educational programs through the Divisions of Airway and Computer Sciences, Business Administration, Education and Humanities, Natural Sciences, Mathematics, Social Sciences, and the nondegree General College Division and Division of Lifelong Learning. 10218347 2574531 7612641 Education, General/Other: Institutional Support. Infrastructure to support the University and carryout it's primary goal of educating students. (~1,200 students). Includes auxiliary expenses, business & fiscal, and presidents office under Depts. 100, 300, & 500 as well. Also includes student aid & discounts (shown contra-revenue in financial statements). 4936431 0 0 Grants & Other Assistance program service expenses 15154778 2574531 7612641 23809946 1 1 0 1 0 1 1 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 0 301 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X Rodney Sobelson 3054300339 15800 NW 42nd AVENUE MIAMI GARDENS FL 330546155 Charleigha Knowles Trustee, SGA President 1 0 X 0 0 0 Sharon Wilson Esq Trustee 1 0 X 0 0 0 Mr William McCormick Board Chair 1 0 X X 0 0 0 Mr E Ray Smith Trustee, Treasurer 1 0 X X 0 0 0 JoLinda L Herring Trustee - Past Chair 1 0 X 0 0 0 Elena Carpenter-Smith 1st Vice Chair 1 0 X X 0 0 0 Dr Richard Yaklich Trustee, Faculty Senate 1 0 X 63262 0 12230 Ricardo Forbes Trustee 1 0 X 0 0 0 Mr Charles W George Trustee 1 0 X 0 0 0 Mr Horace C Hord Jr Trustee, Secretary 1 0 X X 0 0 0 Rev Dr Henry T Rhim Trustee 1 0 X 0 0 0 Mr John W Ruffin Jr Trustee 1 0 X 0 0 0 Rev Bartholomew Banks Sr Trustee 1 0 X 0 0 0 Carolyn Bermudez Trustee 1 0 X 0 0 0 George Davis Jr Trustee 1 0 X 0 0 0 Dr Gerald Glass Trustee 1 0 X 0 0 0 Dr CP Preston Jr Trustee 1 0 X 0 0 0 Rochelle Hill Trustee 1 0 X 0 0 0 Audrey White Trustee 1 0 X 0 0 0 Rev Samuel C Tolbert Jr Trustee 1 0 X 0 0 0 Walter Weatherington Trustee, Vice Chair 1 0 X X 0 0 0 Garth C Reeves Trustee 1 0 X 0 0 0 Dorothy P Davis Trustee 1 0 X 0 0 0 J Megan Kelly Trustee 1 0 X 0 0 0 Dr Jerry Young Trustee 1 0 X 0 0 0 Dr Lawrence Morehouse Trustee 1 0 X 0 0 0 Myla Reizen Trustee 1 0 X 0 0 0 William E Hopper AVP Institutional Effectiveness 40 0 X 110349 0 5228 Cynthia W Curry Exec Vice President for Finance and Administration 40 1 X 170000 0 4269 Denise Callwood-Brathwaite Associate Provost 40 0 X 124035 0 5228 Jaffus Hardrick President 40 0 X 250000 0 0 Roscoe Warren VP of Student Affairs 40 0 X 120000 0 0 Carlos Canas Director of Institutional Research 40 0 X 140980 0 4916 978626 0 31871 8 0 1 0 Thompson Hospitality Services 505 Huntmar Park Drive Suite 300 Herndon VA 20170 Cafeteria foodservice 2901540 Sodexo America 9801 Washington Blvd Gaithersburg MD 20878 Custodial and landscaping 1050592 Florida Power & Light General Mail Facility Miami FL 33188 Electricity 934450 Florida Blue 4800 Deerwood Campus Parkway Jacksonville FL 32246 Health Insurance - Employees 930883 Allied Universal Security Services 7300 Corporate Center Drive Suite 401 Miami FL 33126 Security Services 748010 23 0 0 0 0 7464669 4530088 0 11994757 Tuition & Fees gross of student aid 611310 18108848 18108848 0 0 Auxiliary Enterprises 611310 5574439 5574439 0 0 0 0 0 0 23683287 431933 431933 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 421573 421573 0 0 421573 36531550 24536793 0 0 0 0 4936431 4936431 0 0 0 0 953802 581340 351539 20923 0 0 0 0 11343074 6913575 4180675 248824 0 0 0 0 1146150 698576 422432 25142 879085 535800 324001 19284 5047418 3076389 1860308 110721 716569 436747 264103 15719 227839 138867 83974 4998 90000 54855 33171 1974 0 0 0 0 0 0 58825 35854 21681 1290 51045 31112 18813 1120 283981 173086 104666 6229 316058 192637 116488 6933 0 0 0 0 74239 45248 27362 1629 621553 378835 229083 13635 0 0 0 0 2537 1546 935 56 17000 10361 6266 373 0 0 0 0 2097904 1278667 773217 46020 1622252 988759 597907 35586 Repairs & Maintenance 1482730 903720 546485 32525 Utilities & Property Taxes 1355377 826099 499546 29732 Miscellaneous Expense 701063 427296 258388 15379 Bad Debt Expense 561740 342379 207039 12322 1315455 801767 484832 28856 35902127 23809946 11412911 679270 0 0 9709606 13303752 1068050 1513981 2217733 2552397 0 0 0 0 0 0 0 0 1404650 1650204 101654782 49629371 53465669 52025411 5723031 6121991 0 0 0 0 0 0 18418270 14577232 92007009 91744968 1670925 2997329 0 0 1034437 1852741 38426627 39655835 0 0 0 0 2102687 1092691 43234676 45598596 X 38255659 35565626 0 0 10516674 10580746 48772333 46146372 92007009 91744968 X 629423 47378 0 0 0 -3302762 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 90000 0 0 90000 0 Schedule C, Part II-B, Line 1 The University outsources its governmental lobbying efforts to an outside law firm. All such expenses are directly to that firm for lobbying related activities. 98 0 63379 0 0 0 2734013 0 1 1 X 1 100 0 0 0 1 0 50 7500 0 3735502 63379 235493 35532 0 0 3998842 5925333 160329 598997 840431 2067351 41375 3735502 5115677 218175 723149 131668 0 0 5925333 8405201 184010 126759 272913 3278008 49372 5115677 8354381 351916 170030 443569 0 27557 8405201 0.39 0.49 0.12 0 0 0 797353 797353 0 78428112 28250173 50177939 0 0 0 0 0 22389417 21379198 1010219 0 39900 0 39900 52025411 Beneficial Interest in FMU Foundation 13768797 Other receivables 808435 14577232 0 Agency liabilities 319134 Designated scholarships payable 700782 Legal Reserve 50000 Other miscellaneous liabilities 22775 1092691 X 34871076 47378 0 0 0 47378 34823698 0 1707852 1707852 36531550 34194275 0 0 0 0 0 34194275 0 1707852 1707852 35902127 Schedule D, Part II, Line 9 The University's Foundation owns a total of approximately 310 acres of land, of which 100 acres are uplands (balance is wetlands) designated by the State of Florida on land in St John's County in the City of St Augustine, Florida. The land is included within the beneficial interest in Foundation recorded on the Statement of Financial Position as part of the Foundation's assets consolidated onto the financial statements of the University. Footnote 12 depicts the restatement of 2018 for comparison purposes with the 2019 audited financial statements. Schedule D, Part V, Line 4 The primary use of the University's endowment funds are to provide scholarships to students attending the University using the investment income earned on the corpus. Schedule D, Part X, Line 2 The University follows the provisions of ASC 740, Income Taxes, and has determined that as of June 30, 2019 and 2018, the University had no material unrecognized tax provision or benefits. The University does not expect that unrecognized tax provision or benefits will materially increase within the next 12 months. Tax periods open to examination by major taxing jurisdictions include fiscal years June 30, 2016 through June 30, 2019. Schedule D, Part XI, Line 4b Represents student aid and discounts, which are recognized as contra-revenue for purposes of the audited financial statements, but are recognized as expenses for purposes of the Form 990 informational return. Schedule D, Part XII, Line 4b Represents the change in Beneficial Interest in Foundation shown in the Statement of Activities for 2019. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The racially nondiscriminatory policy is advertised on the University's website (www.fmuniv.edu), as well as in print and television advertising for upcoming registration periods. Schedule E, Part I, Line 6 The University receives Federal Title IV program financial aid and also participates in and receives State of Florida financial aid as well. In addition, the University receives Federal Title III, Dept. of Education, National Science Foundation, Dept. of Health & Human Services, U.S. Defense Intelligence Agency, as well as the State of Florida Dept. of Education and Dept. of Highway Safety and Motor Vehicles. 1 The noncash assistance consists of various amounts of merit and need-based scholarships and discounts to students to reduce their tuition, fees, room, and board, thus allowing them to pursue their education. These can be grant assistance and/or institutional aid and/or discounts. 880 4851267 0 Fair market value based on University rates for tuition, fees, room, books, and board The noncash assistance consists of various amounts of merit and need-based scholarships and discounts to students to reduce their tuition, fees, room, and board, thus allowing them to pursue their education. Schedule I, Part I, Line 2 The scholarship related records are maintained in the Financial Aid office of the University. There is a scholarship committee established to formulate guidelines and procedures as to the eligibility and criteria for each scholarship being awarded. Additionally, records supporting non-scholarship type grants are also maintained between grant accounting and the Office of Grants & Sponsored Research. X 1 1 X X 0 0 0 0 0 0 0 0 0 Jaffus Hardrick President 250000 0 0 0 0 0 0 0 0 0 250000 0 250000 0 Cynthia W Curry Exec Vice President for Finance and Administration 170000 0 0 0 0 0 0 0 4269 0 174269 0 170000 0 William E Hopper AVP Institutional Effectiveness 110349 0 0 0 0 0 0 0 5228 0 115577 0 110349 0 Carlos Canas Director of Institutional Research 140980 0 0 0 0 0 0 0 4916 0 145896 0 140980 0 Denise Callwood-Brathwaite Associate Provost 124035 0 0 0 0 0 0 0 5228 0 129263 0 124035 0 Roscoe Warren VP of Student Affairs 120000 0 0 0 0 0 0 0 0 0 120000 0 0 0 Dr Richard Yaklich Trustee, Faculty Senate 63262 0 0 0 0 0 0 0 12230 0 75492 0 0 0 Schedule J, Part I, Line 1a The President of the University is allotted a monthly housing allowance. A HBCU Loan Financing - Rice Capital Access Program Florida Memorial University (Borrower) 590668483 2009-09-21 28000000 Refinancing and Building Dormitories 0 0 0 B HBCU Loan Financing-Rice Capital Access Program Florida Memorial University (Borrower) 590668483 2012-06-07 16060000 To provide funds to repay an existing note payable and finance construction of new Gymnasium/Bldg 0 0 0 A 0 0 28000000 1334468 170322 10921671 793962 0 0 14779577 0 0 2012 0 0 1 1 B 0 0 16060000 1405285 0 6367656 420907 0 11000 7855152 0 0 2016 0 0 0 1 A 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 1 B 1 Form 990, Part VI, Section B, Line 11b Although a complete copy of the Form 990 has not been provided to all members of the Board of Trustees prior to filing, the filing is in the hands of the Controller and AVP of Finance, who reports directly to the Board of Trustees monthly. The process used to complete the 990 consists of the Controller completing the supporting schedules that roll into the 990, answering all questions within the 990, answering all questions within the 990, performing the verification check online for errors, clearing such errors (if any), and providing to the VPFA for review and signature. Form 990, Part VI, Section B, Line 12c The University regularly reviews (and revises when necessary) its Conflict of Interest policy. All new key employees are required to acknowledge that they have received and read the policy by signing and returning an acknowledgment page. All Board members are advised of the Conflict of Interest policy and are asked to complete and update annually. Form 990, Part VI, Section B, Line 15 The compensation for the University's President is approved by a select committee from the Board of Trustees. This group examines data along with current comparative industry salaries and compensation for this position, including area and size of the university/college. Other officers and key employee salaries are approved by the President and are bench marked against salary standards such as the college and University Professional Association (CUPA). Form 990, Part VI, Section C, Line 19 The University makes its governing documents, conflict of interest policy, and audited financial statements available to the public upon request. Also, Form 990 and the annual audited financial statements are filed with the appropriate government and grantor agencies annually. Form 990, Part XI, Line 9 During 2019, the University recorded a beneficial interest in its Florida Memorial University Foundation as the organizations are financially interrelated, and as such, the 2018 financial statements were restated for comparison purposes. The University will record an annual change in beneficial interest in Foundation on its Statement of Activities. In response to the COVID pandemic, the IRS extended the filing date for IRS Form 990 from May 15, 2020 (on extension) to July 15, 2020. This filing is occurring within that time frame.