FURP.ORG / PUBLIC DATA EXPLORER

FLORIDA INSTITUTE OF TECHNOLOGY INC: Form 990, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
FLORIDA INSTITUTE OF TECHNOLOGY INC (EIN 59-6046500)
Tax period
2016-05-01 to 2017-04-30
Filed
2017-12-15
IRS object ID
201713499349300956
Schema version
2016v3.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2017-12-15T10:29:27-05:00ReturnTs
Tax Period End2017-04-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN591152714PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line18035 SPYGLASS HILL RDAddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32940ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2016-05-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN596046500EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FLORIDA INSTITUTE OFBusinessNameLine1Txt
Business Name Line2TECHNOLOGY INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlFLORBusinessNameControlTxt
Phone3216627297PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1150 W UNIVERSITY BLVDAddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP329016975ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCATHY WOODPersonNm
Person TitleCFO/SVPPersonTitleTxt
Phone3216747342PhoneNum
Signature2017-12-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonABBEY K REDDEN CPAPreparerPersonNm
PTINP00189512PTIN
Phone3217572020PhoneNum
Preparation2017-12-15PreparationDt

Filing Security Information FilingSecurityInformation

FieldValueIRS element (for citing)
At Submission Creation Device IdE64892ED25B3FBCC0DC3FDFC1B03EAC196FF9620AtSubmissionCreationDeviceId
At Submission Filing Device Id74E2F59BAD8C7455383966CBD4B3F2E29783587CAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2018-03-14 21:41:22ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerCATHY WOODPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1150 W UNIVERSITY BLVDAddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32901ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$192,079,689GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.FIT.EDUWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1958FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionFLORIDA 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.ActivityOrMissionDesc
Voting Members Governing Body36VotingMembersGoverningBodyCnt
Voting Members Independent35VotingMembersIndependentCnt
Total Employee3639TotalEmployeeCnt
Total Volunteers95TotalVolunteersCnt
Total Gross UBI$6,617,355TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm-$1,121,845NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$15,775,304PYContributionsGrantsAmt
CY Contributions Grants$12,670,325CYContributionsGrantsAmt
PY Program Service Revenue$175,660,177PYProgramServiceRevenueAmt
CY Program Service Revenue$171,688,052CYProgramServiceRevenueAmt
PY Investment Income$3,415,321PYInvestmentIncomeAmt
CY Investment Income$2,283,379CYInvestmentIncomeAmt
PY Other Revenue$791,530PYOtherRevenueAmt
CY Other Revenue$516,493CYOtherRevenueAmt
PY Total Revenue$195,642,332PYTotalRevenueAmt
CY Total Revenue$187,158,249CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$118,896,623PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$111,545,506CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$4,770,905CYTotalFundraisingExpenseAmt
PY Other Expenses$82,175,847PYOtherExpensesAmt
CY Other Expenses$71,432,253CYOtherExpensesAmt
PY Total Expenses$201,072,470PYTotalExpensesAmt
CY Total Expenses$182,977,759CYTotalExpensesAmt
PY Revenues Less Expenses-$5,430,138PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$4,180,490CYRevenuesLessExpensesAmt
Total Assets BOY$228,573,754TotalAssetsBOYAmt
Total Assets EOY$236,127,260TotalAssetsEOYAmt
Total Liabilities BOY$87,189,829TotalLiabilitiesBOYAmt
Total Liabilities EOY$86,182,185TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$141,383,925NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$149,945,075NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionFLORIDA 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.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$89,328,325ExpenseAmt
Revenue$144,640,811RevenueAmt
DescINSTRUCTION AND ACADEMIC SUPPORT THE UNIVERSITY INSTRUCTED 3,629 UNDERGRADUATE, 2,209 GRADUATE STUDENTS AND 613 DOCTORATE STUDENTS ON-CAMPUS, IN ADDITION TO 2,774 ONLINE STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS IN THE FOLLOWING FIELDS OF STUDY: AERONAUTICS, BUSINESS,ENGINERERING, PSYCHOLOGY AND LIBERAL ARTS, SCIENCE AND AVIATION.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$33,350,982ExpenseAmt
Revenue$19,962,683RevenueAmt
DescSTUDENT SERVICES AND AUXILIARY ENTERPRISES 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 22 INTERCOLLEGIATE SPORTS. FROM GREEK LIFE TO THE COLLEGE PLAYERS THEATRICAL ORGANIZATION, STUDENTS ARE ACTIVELY INVOLVED IN THE LIFE OF THE CAMPUS COMMUNITY.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$12,451,633ExpenseAmt
Revenue$9,940,709RevenueAmt
DescOTHER PROGRAM SERVICES.Desc
FieldValueIRS element (for citing)
Total Program Service Expenses$135,130,940TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesYes (true)LobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtYes (true)CollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsYes (true)TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (true)ConsolidatedAuditFinclStmtInd
School OperatingYes (true)SchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesYes (true)ForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesYes (true)FundraisingActivitiesInd
Gaming ActivitiesYes (true)GamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsYes (true)TaxExemptBondsInd
Invest Tax Exempt BondsfalseInvestTaxExemptBondsInd
Escrow AccountfalseEscrowAccountInd
On Behalf Of IssuerfalseOnBehalfOfIssuerInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntYes (true)BusinessRlnWithOfficerEntInd
Deductible Non Cash ContriYes (true)DeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityYes (true)DisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document317IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee3639EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsYes (true)QuidProQuoContributionsInd
Quid Pro Quo Contri DisclYes (true)QuidProQuoContriDisclInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctYes (true)RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctYes (true)PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members36GoverningBodyVotingMembersCnt
Independent Voting Member35IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldFLStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CATHY R WOODBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3216747297PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1150 W UNIVERSITY BLVDAddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32901ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (63 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtKey EmployeeKeyEmployeeIndHighest Compensated EmployeeHighestCompensatedEmployeeIndFormer Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
T DWAYNE MCCAY
PRESIDENT/TR40.002.00Yes (X)Yes (X)$559,709$0$28,012
RAYMOND A ARMSTRONG
TRUSTEE2.002.00Yes (X)$0$0$0
RICHARD N BANEY MD
TRUSTEE2.002.00Yes (X)$0$0$0
MICHAEL BISK
TRUSTEE2.002.00Yes (X)$0$0$0
WILLIAM M BROWN
TRUSTEE2.002.00Yes (X)$0$0$0
JOSEPH CARUSO
TRUSTEE2.002.00Yes (X)$0$0$0
ANDREW M CLARK MD
TRUSTEE2.002.00Yes (X)$0$0$0
CHARLES CLEMENTE
TRUSTEE2.002.00Yes (X)$0$0$0
DALE A DETTMER
TRUSTEE2.002.00Yes (X)$0$0$0
ANN E DUNWOODY
TRUSTEE2.002.00Yes (X)$0$0$0
PHILLIP W FARMER
TRUSTEE2.002.00Yes (X)$0$0$0
JOSEPH M FLAMMIO
TRUSTEE2.002.00Yes (X)$0$0$0
DOUG FLUTIE
TRUSTEE2.002.00Yes (X)$0$0$0
TOM J FOLLIARD
TRUSTEE2.002.00Yes (X)$0$0$0
STEVEN FREEMAN
TRUSTEE2.002.00Yes (X)$0$0$0
JOHN T HARTLEY
TRUSTEE2.002.00Yes (X)$0$0$0
ERIK E JOH
TRUSTEE2.002.00Yes (X)$0$0$0
RICHARD P MCNEIGHT
TRUSTEE2.002.00Yes (X)$0$0$0
WILLIAM R MUNS
TRUSTEE2.002.00Yes (X)$0$0$0
ROBERT L PHEBUS JR
TRUSTEE2.002.00Yes (X)$0$0$0
WILLLIAM C POTTER
TRUSTEE2.002.00Yes (X)$0$0$0
TRAVIS PROCTOR
TRUSTEE2.002.00Yes (X)$0$0$0
JAMES E PRUITT
TRUSTEE2.002.00Yes (X)$0$0$0
KENNETH P REVAY
TRUSTEE2.002.00Yes (X)$0$0$0
MICHAEL SCAFATI
TRUSTEE2.002.00Yes (X)$0$0$0
EDWARD W SCOTT JR
TRUSTEE2.002.00Yes (X)$0$0$0
SCOTT J SEYMOUR
TRUSTEE2.002.00Yes (X)$0$0$0
MAHESH SHAH
TRUSTEE2.002.00Yes (X)$0$0$0
F ALAN SMITH
TRUSTEE2.002.00Yes (X)$0$0$0
ELIZABETH J SWANN
TRUSTEE2.002.00Yes (X)$0$0$0
VIKRAM VERMA
TRUSTEE2.002.00Yes (X)$0$0$0
THOMAS VICE
TRUSTEE2.002.00Yes (X)$0$0$0
TIM WAKEFIELD
TRUSTEE2.002.00Yes (X)$0$0$0
BRIAN CRANE
TRUSTEE2.002.00Yes (X)$0$0$0
SVAFA GRONFELDT
TRUSTEE2.002.00Yes (X)$0$0$0
JAMES WONG
TRUSTEE2.002.00Yes (X)$0$0$0
ANTHONY J CATANESE
PRESIDENT EM40.00Yes (X)$504,170$0$28,225
CATHY WOOD
CFO/SVP40.00Yes (X)$330,493$0$27,872
FRANK KINNEY
SVP, CHIEF O40.00Yes (X)$233,501$0$22,484
MONICA BALOGA
SVP & PROVOS40.00Yes (X)$157,490$0$25,860
MARTIN GLICKSMAN
DEAN40.00$302,839$0$14,632Yes (X)
WINSTON SCOTT
SVP40.00$276,270$0$14,458Yes (X)
GUY BOY
DEAN40.00$218,832$0$8,131Yes (X)
SHIRLEY BECKER
SVP40.00$217,436$0$18,928Yes (X)
GARY HAMME
VP40.00$212,235$0$28,012Yes (X)
MARCO CARVALHO
DEAN40.00$205,219$0$27,635Yes (X)
MARY BETH KENKEL
DEAN40.00$193,782$0$24,163Yes (X)
KORHAN OYMAN
DEAN40.00$174,018$0$26,785Yes (X)
HAMMID RASSOUL
DEAN40.00$173,304$0$26,752Yes (X)
THEODORE R RICHARDSON III
DEAN40.00$168,975$0$14,386Yes (X)
ERIC KLEDZIK
VP40.00$157,092$0$22,721Yes (X)
RANDY ALFORD
DEAN40.00$150,566$0$15,657Yes (X)
DAVID J WELDON
PROFESSOR40.00$215,192$0$0Yes (X)
WILLIAM ARRASMITH
PROFESSOR40.00$193,325$0$8,831Yes (X)
STEVEN W SHAW
PROFESSOR40.00$188,739$0$21,608Yes (X)
ABRAM L WALTON
PROFESSOR40.00$188,416$0$35,342Yes (X)
MARK BUSH
PROFESSOR40.00$184,072$0$31,567Yes (X)
SUSAN ST ONGE
SVP40.00$315,480$0$14,453Yes (X)
LESLIE HIELEMA
VP40.00$223,256$0$21,176Yes (X)
MICHAEL SEELEY
VP40.00$186,524$0$17,890Yes (X)
SEMEN KOKSAL
VP40.00$165,072$0$24,404Yes (X)
GABY HAWATT
SVP40.00$144,963$0$15,771Yes (X)
KEN STACKPOOLE
VP40.00$121,771$0$9,703Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$6,362,741TotalReportableCompFromOrgAmt
Total Other Compensation$575,458TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K29IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedYes (true)FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
ABA TECHNOLOGIES INC
3011 S BABCOCK ST STE 353MELBOURNEFL32901PROGRAMMING$4,315,002
ELLUCIAN CO LP
62814 COLLECTION CTR DRCHICAGOIL60693SOFTWARE$2,073,034
D BADOLATO PA
6300 N WICKHAM ROAD SUITE 101MELBOURNEFL32940MEDICAL$481,989
DEAN MEAD
800 NORTH MAGNOLIA AVE STE 1500ORLANDOFL32802ATTORNEYS$196,358
BERMAN HOPKINS WRIGHT & LAHAM
8035 SPYGLASS HILL RDMELBOURNEFL32940AUDIT/TAX$180,500
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K5CntrctRcvdGreaterThan100KCnt
Fundraising$56,280FundraisingAmt
Government Grants$10,258,924GovernmentGrantsAmt
All Other Contributions$2,355,121AllOtherContributionsAmt
Noncash Contributions$1,072,439NoncashContributionsAmt
Total Contributions$12,670,325TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtBusinessBusinessCdUnrelated Business RevenueUnrelatedBusinessRevenueAmt
TUITION & FEES$136,207,920$136,207,920
HOUSING & FOOD SERVICE$19,962,683$19,962,683
OTHER$6,572,279$6,572,279
FIT AVIATION, LLC$6,149,513611710$6,149,513
INDIRECT COST RECOVERY$2,347,815$2,347,815

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$447,842TotalRevenueColumnAmt
Unrelated Business Revenue$447,842UnrelatedBusinessRevenueAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$171,688,052TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,032,247TotalRevenueColumnAmt
Exclusion$2,032,247ExclusionAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$490,266RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$387,781RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$102,485RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$102,485TotalRevenueColumnAmt
Exclusion$102,485ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$2,858,886SecuritiesAmt
Other$1,723,622OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$2,583,031SecuritiesAmt
Other$1,748,345OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$275,855SecuritiesAmt
Other-$24,723OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$251,132TotalRevenueColumnAmt
Related Or Exempt Func Income-$44,723RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$20,000UnrelatedBusinessRevenueAmt
Exclusion$275,855ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$229,550FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$56,280ContriRptFundraisingEventAmt
Fundraising Direct Expenses$127,283FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column$102,267TotalRevenueColumnAmt
Exclusion$102,267ExclusionAmt
FieldValueIRS element (for citing)
Gaming Gross Income$219,400GamingGrossIncomeAmt
Gaming Direct Expenses$75,000GamingDirectExpensesAmt

Net Income From Gaming NetIncomeFromGamingGrp

FieldValueIRS element (for citing)
Total Revenue Column$144,400TotalRevenueColumnAmt
Exclusion$144,400ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescINSURANCE RECOVERYDesc
Total Revenue Column$167,341TotalRevenueColumnAmt
Exclusion$167,341ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$167,341OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$187,158,249TotalRevenueColumnAmt
Related Or Exempt Func Income$165,045,974RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$6,617,355UnrelatedBusinessRevenueAmt
Exclusion$2,824,595ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$5,030,721TotalAmt
Program Services$1,532,980ProgramServicesAmt
Management And General$3,101,346ManagementAndGeneralAmt
Fundraising$396,395FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$82,135,703TotalAmt
Program Services$69,875,749ProgramServicesAmt
Management And General$10,567,354ManagementAndGeneralAmt
Fundraising$1,692,600FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$2,437,908TotalAmt
Program Services$1,935,343ProgramServicesAmt
Management And General$451,366ManagementAndGeneralAmt
Fundraising$51,199FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$17,065,358TotalAmt
Program Services$13,547,402ProgramServicesAmt
Management And General$3,159,562ManagementAndGeneralAmt
Fundraising$358,394FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$4,875,816TotalAmt
Program Services$3,870,686ProgramServicesAmt
Management And General$902,732ManagementAndGeneralAmt
Fundraising$102,398FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$12,914,469TotalAmt
Program Services$8,285,331ProgramServicesAmt
Management And General$4,304,282ManagementAndGeneralAmt
Fundraising$324,856FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$244,560TotalAmt
Program Services$11,122ProgramServicesAmt
Management And General$233,438ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$385,630TotalAmt
Management And General$385,630ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$2,183,464TotalAmt
Program Services$1,741,057ProgramServicesAmt
Management And General$63,917ManagementAndGeneralAmt
Fundraising$378,490FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$12,236,405TotalAmt
Program Services$8,349,985ProgramServicesAmt
Management And General$3,532,473ManagementAndGeneralAmt
Fundraising$353,947FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$31,537TotalAmt
Program Services$23,875ProgramServicesAmt
Management And General$6,119ManagementAndGeneralAmt
Fundraising$1,543FundraisingAmt

Royalties RoyaltiesGrp

FieldValueIRS element (for citing)
Total$1,761,178TotalAmt
Program Services$1,379,654ProgramServicesAmt
Management And General$377,551ManagementAndGeneralAmt
Fundraising$3,973FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$18,305,581TotalAmt
Program Services$6,173,731ProgramServicesAmt
Management And General$12,035,076ManagementAndGeneralAmt
Fundraising$96,774FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$3,695,395TotalAmt
Program Services$3,132,493ProgramServicesAmt
Management And General$391,109ManagementAndGeneralAmt
Fundraising$171,793FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$2,001,686TotalAmt
Program Services$1,253,091ProgramServicesAmt
Management And General$263,284ManagementAndGeneralAmt
Fundraising$485,311FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$1,422,904TotalAmt
Management And General$1,422,904ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$7,665,356TotalAmt
Program Services$7,665,356ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,824,838TotalAmt
Program Services$428,179ProgramServicesAmt
Management And General$1,386,659ManagementAndGeneralAmt
Fundraising$10,000FundraisingAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
RESEARCH SCHOLARSHIP$4,441,119$4,399,889$41,230
COGS$1,521,073$1,521,073
OTHER DEDUCTIONS$797,058$3,944$449,882$343,232

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$182,977,759TotalAmt
Program Services$135,130,940ProgramServicesAmt
Management And General$43,075,914ManagementAndGeneralAmt
Fundraising$4,770,905FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$5,843,422BOYAmt
EOY$14,770,722EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$2,904,707BOYAmt
EOY$2,552,233EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$7,253,017BOYAmt
EOY$4,812,986EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$4,837,236BOYAmt
EOY$4,711,068EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$978,200BOYAmt
EOY$253,542EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$6,003,354BOYAmt
EOY$6,454,433EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$202,372,454LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$75,576,051LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$134,348,428BOYAmt
EOY$126,796,403EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$65,372,042BOYAmt
EOY$74,158,457EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$30,311BOYAmt
EOY$104,934EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1,003,037BOYAmt
EOY$1,512,482EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$228,573,754BOYAmt
EOY$236,127,260EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$22,498,109BOYAmt
EOY$21,854,376EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$8,305,997BOYAmt
EOY$10,073,792EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$30,847,336BOYAmt
EOY$29,524,407EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$1,970,992BOYAmt
EOY$1,888,906EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$23,567,395BOYAmt
EOY$22,840,704EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$87,189,829BOYAmt
EOY$86,182,185EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$75,090,833BOYAmt
EOY$77,833,444EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$14,802,978BOYAmt
EOY$19,887,456EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$51,490,114BOYAmt
EOY$52,224,175EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$141,383,925BOYAmt
EOY$149,945,075EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$228,573,754BOYAmt
EOY$236,127,260EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$4,180,490ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$6,345,247NetUnrlzdGainsLossesInvstAmt
Prior Period Adjustments-$1,964,587PriorPeriodAdjustmentsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredYes (true)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (true)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
VolunteersfalseVolunteersInd
Paid Staff Or ManagementfalsePaidStaffOrManagementInd
Media AdvertisementsfalseMediaAdvertisementsInd
Mailings MembersfalseMailingsMembersInd
Publications Or BroadcastfalsePublicationsOrBroadcastInd
Grants Other OrganizationsfalseGrantsOtherOrganizationsInd
Direct Contact LegislatorsfalseDirectContactLegislatorsInd
Rallies DemonstrationsfalseRalliesDemonstrationsInd
Other ActivitiesYes (true)OtherActivitiesInd
Other Activities$90,180OtherActivitiesAmt
Total Lobbying Expenditures$90,180TotalLobbyingExpendituresAmt
Not Described Section501c3falseNotDescribedSection501c3Ind

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE C, PART II-B, LINE 1FormAndLineReferenceDesc
ExplanationFLORIDA INSTITUTE OF TECHNOLOGY CONTRACTED WITH OUTSIDE VENDORS TO SPEAK DIRECTLY TO LEGISLATORS ON ITS BEHALF.ExplanationTxt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Collection Used Pub ExhibitionYes (X)CollectionUsedPubExhibitionInd
Solicited Assets SalefalseSolicitedAssetsSaleInd

CY Endwmt Fund CYEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$62,088,288BeginningYearBalanceAmt
Contributions$3,600,545ContributionsAmt
Investment Earnings Or Losses$8,388,063InvestmentEarningsOrLossesAmt
Grants Or Scholarships-$962,835GrantsOrScholarshipsAmt
Other Expenditures-$2,064,585OtherExpendituresAmt
Administrative Expenses-$270,968AdministrativeExpensesAmt
End Year Balance$70,778,448EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$66,598,460BeginningYearBalanceAmt
Contributions$424,056ContributionsAmt
Investment Earnings Or Losses-$2,119,190InvestmentEarningsOrLossesAmt
Grants Or Scholarships-$864,224GrantsOrScholarshipsAmt
Other Expenditures-$1,706,923OtherExpendituresAmt
Administrative Expenses-$243,951AdministrativeExpensesAmt
End Year Balance$62,088,228EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$61,122,533BeginningYearBalanceAmt
Contributions$3,632,708ContributionsAmt
Investment Earnings Or Losses$4,494,346InvestmentEarningsOrLossesAmt
Grants Or Scholarships-$836,246GrantsOrScholarshipsAmt
Other Expenditures-$1,649,040OtherExpendituresAmt
Administrative Expenses-$165,841AdministrativeExpensesAmt
End Year Balance$66,598,460EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$54,539,693BeginningYearBalanceAmt
Contributions$2,158,696ContributionsAmt
Investment Earnings Or Losses$6,878,532InvestmentEarningsOrLossesAmt
Grants Or Scholarships-$787,646GrantsOrScholarshipsAmt
Other Expenditures-$1,479,198OtherExpendituresAmt
Administrative Expenses-$187,544AdministrativeExpensesAmt
End Year Balance$61,122,533EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$48,845,386BeginningYearBalanceAmt
Contributions$2,229,238ContributionsAmt
Investment Earnings Or Losses$5,683,876InvestmentEarningsOrLossesAmt
Grants Or Scholarships-$705,884GrantsOrScholarshipsAmt
Other Expenditures-$1,328,343OtherExpendituresAmt
Administrative Expenses-$184,580AdministrativeExpensesAmt
End Year Balance$54,539,693EndYearBalanceAmt
FieldValueIRS element (for citing)
Board Designated Balance EOY0.08600BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY0.91400PrmnntEndowmentBalanceEOYPct
Endowments Held Unrelated OrgfalseEndowmentsHeldUnrelatedOrgInd
Endowments Held Related OrgfalseEndowmentsHeldRelatedOrgInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$9,058,157OtherCostOrOtherBasisAmt
Book Value$9,058,157BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$123,151,590OtherCostOrOtherBasisAmt
Depreciation$41,511,931DepreciationAmt
Book Value$81,639,659BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$28,594,200OtherCostOrOtherBasisAmt
Depreciation$12,061,827DepreciationAmt
Book Value$16,532,373BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$28,146,513OtherCostOrOtherBasisAmt
Depreciation$12,670,261DepreciationAmt
Book Value$15,476,252BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$13,421,994OtherCostOrOtherBasisAmt
Depreciation$9,332,032DepreciationAmt
Book Value$4,089,962BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$126,796,403TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (10 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
COMMON STOCKS$30,115,448F
EQUITY MUTUAL FUNDS$20,932,081F
MORTGAGE/ASSET BACKED SECURITIES$6,709,827F
CORPORATE BONDS$5,141,040F
DEBT MUTUAL FUNDS$3,207,849F
SHORT TERM INVESTMENTS$2,465,217F
ALTERNATIVE INVESTMENTS$2,143,772F
US GOVERNMENT NOTES AND BONDS$1,727,687F
MUNICIPAL BONDS$1,075,536F
SURPLUS NOTES$640,000F
FieldValueIRS element (for citing)
Total Book Value Securities$74,158,457TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
CAPITAL LEASE OBLIGATIONS$16,186,354
REFUNDABLE GOVERNMENT LOANS$4,636,651
ANNUITIES PAYABLE$2,017,699
FieldValueIRS element (for citing)
Total Liability$22,840,704TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE D, PAGE 1, PART III, LINE 1ATHE UNIVERSITY HAS ELECTED TO EXCLUDE THE VALUE OF THE COLLECTIONS FROM THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION, AND THE VALUE OF DONATIONS OF COLLECTIONS FROM REVENUE IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES.
SCHEDULE D, PAGE 2, PART III, LINE 4TIME PERIOD CLOTHING, PIECES OF HAND WOVEN TEXTILES, ORIGINAL COLLAGE ARTWORK, POETRY COLLECTION, DISPLAYS OF INTERNATIONAL ART WORK USED TO FURTHER THE UNDERSTANDING OF CULTURAL AND CREATIVE ACHIEVEMENTS.
SCHEDULE D, PAGE 2, PART V, LINE 4ENDOWMENT 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. FOR THE FISCAL YEAR 2017, THE TRANSFER AMOUNTED TO 3,027,420.
SCHEDULE D, PAGE 3, PART XTHE 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. DETERMINATION OF CURRENT OR LONG-TERM STATUS OF THE DEFERRED TAX ASSET IS BASED ON THE CURRENT OR LONG-TERM NATURE OF THE UNDERLYING ASSET. 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; CURRENTLY WE ARE HAVING A SALES TAX AUDIT WITH THE STATE OF FLORIDA. THE UNIVERSITY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2013.

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (true)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (true)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (true)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (true)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (true)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (true)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (true)MaintainCpyOfAllSolInd
Discriminate Race Stdnts RghtsfalseDiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss PlcyfalseDiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm FcultyfalseDiscriminateRaceEmplmFcultyInd
Discriminate Race SchsfalseDiscriminateRaceSchsInd
Discriminate Race Educ PlcyfalseDiscriminateRaceEducPlcyInd
Discriminate Race Use Of FcltsfalseDiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt ProgfalseDiscriminateRaceAthltProgInd
Discriminate Race Other ActyfalseDiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (true)GovernmentFinancialAidRcvdInd
Government Financial Aid RvkdfalseGovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (true)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, LINE 3ALL ADVERTISEMENTS FOR FLORIDA INSTITUTE OF TECHNOLOGY INCLUDE THE NECESSARY INFORMATION REGARDING THE UNIVERSITY'S NON-DISCRIMINATION POLICY.
SCHEDULE E, LINE 6THE UNIVERSITY PARTICIPATES IN NUMEROUS FEDERAL AND STATE PROGRAMS AS LISTED BELOW: FEDERAL PROGRAMS: US DEPARTMENT OF COMMERCE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION US DEPARTMENT OF DEFENSE US DEPARTMENT OF ENERGY US DEPARTMENT OF HEALTH AND HUMAN SERVICES US DEPARTMENT OF HOMELAND SECURITY STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION US DEPARTMENT OF THE INTERIOR US SMALL BUSINESS ADMINISTRATION NATIONAL SCIENCE FOUNDATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION US ARMY US DEPARTMENT OF TRANSPORTATION US DEPARTMENT OF JUSTICE UNITED NATIONS, COMPREHENSIVE NUCLEAR-TEST BAN TREATY ORGANIZATION US DEPARTMENT OF STATE OTHER FEDERAL PROGRAMS CORPORATION FOR PUBLIC BROADCASTING US DEPARTMENT OF VETERAN AFFAIRS US DEPARTMENT OF EDUCATION STATE PROGRAMS: FLORIDA OFFICE OF INSURANCE REGULATIONS FLORIDA DIVISION OF EMERGENCY MANAGEMENT FLORIDA DEPARTMENT OF HEALTH FLORIDA DEPARTMENT OF EDUCATION FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA DEPARTMENT OF TRANSPORTATION FLORIDA DEPARTMENT OF HIGHWAY SAFETY AND MOTOR VEHICLES FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY FLORIDA STUDENT FINANCIAL ASSISTANCE OTHER STATE STUDENT FINANCIAL ASSISTANCE FLORIDA BRIGHT FUTURES SCHOLARSHIPS

Schedule F IRS990ScheduleF

FieldValueIRS element (for citing)
Grant Records MaintainedfalseGrantRecordsMaintainedInd

Account Activities Outside US AccountActivitiesOutsideUSGrp (4 entries)

RegionRegionTxtOfficesOfficesCntEmployeeEmployeeCntType Of Activities ConductedTypeOfActivitiesConductedTxtSpecific Services ProvidedSpecificServicesProvidedTxtRegion Total ExpendituresRegionTotalExpendituresAmt
EAST ASIA16PROGRAM SERVICESTUDENT RECRUITMENT$113,979
SOUTH ASIA4PROGRAM SERVICESTUDENT RECRUITMENT$28,500
EUROPE3PROGRAM SERVICESTUDENT RECRUITMENT$6,000
SUB-SAHARAN AFRICA1PROGRAM SERVICESTUDENT RECRUITMENT$3,000
FieldValueIRS element (for citing)
Subtotal Offices1SubtotalOfficesCnt
Subtotal Employees14SubtotalEmployeesCnt
Total Office1TotalOfficeCnt
Total Employee14TotalEmployeeCnt
Subtotal Spent$151,479SubtotalSpentAmt
Total Spent$151,479TotalSpentAmt
Transfer To Foreign CorpfalseTransferToForeignCorpInd
Interest In Foreign TrustfalseInterestInForeignTrustInd
Foreign Corp OwnershipfalseForeignCorpOwnershipInd
Passive Foreign Investmest CofalsePassiveForeignInvestmestCoInd
Foreign PartnershipfalseForeignPartnershipInd
Boycott CountriesfalseBoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE F, PAGE 1, PART I, LINE 3FormAndLineReferenceDesc
ExplanationEAST ASIA 113,979 0 SOUTH ASIA 28,500 0 EUROPE 6,000 0 SUB-SAHARAN AFRICA 3,000 0ExplanationTxt

Schedule G IRS990ScheduleG

FieldValueIRS element (for citing)
Licensed StatesFLLicensedStatesCd

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1DAY OF GIVINGEvent1Nm
Gross Receipts Event1$108,943GrossReceiptsEvent1Amt
Gross Revenue Event1$108,943GrossRevenueEvent1Amt
Event2EVENING OF HOPEEvent2Nm
Gross Receipts Event2$89,370GrossReceiptsEvent2Amt
Gross Revenue Event2$89,370GrossRevenueEvent2Amt
Other Direct Expenses Event2$53,045OtherDirectExpensesEvent2Amt
Other Events Total2OtherEventsTotalCnt
Gross Receipts Other Events$87,767GrossReceiptsOtherEventsAmt
Charitable Contri Other Events$56,280CharitableContriOtherEventsAmt
Gross Revenue Other Events$31,487GrossRevenueOtherEventsAmt
Cash Prizes Other Events$4,300CashPrizesOtherEventsAmt
Rent Fclty Costs Other Events$49,699RentFcltyCostsOtherEventsAmt
Oth Direct Expnss Other Events$20,239OthDirectExpnssOtherEventsAmt
Gross Receipts Total$286,080GrossReceiptsTotalAmt
Charitable Contributions Tot$56,280CharitableContributionsTotAmt
Gross Revenue Total Events$229,800GrossRevenueTotalEventsAmt
Cash Prizes Total Events$4,300CashPrizesTotalEventsAmt
Rent Fclty Costs Total Events$49,699RentFcltyCostsTotalEventsAmt
Oth Direct Expnss Total Events$73,284OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$127,283DirectExpenseSummaryEventsAmt
Net Income Summary$102,517NetIncomeSummaryAmt

Gaming Information GamingInformationGrp

FieldValueIRS element (for citing)
Volunteer Labor BingofalseVolunteerLaborBingoInd
Volunteer Labor Pull TabsfalseVolunteerLaborPullTabsInd
Gross Revenue Other Gaming$219,400GrossRevenueOtherGamingAmt
Cash Prizes Other Gaming$75,000CashPrizesOtherGamingAmt
Volunteer Labor Other GamingfalseVolunteerLaborOtherGamingInd
Gross Revenue Total Gaming$219,400GrossRevenueTotalGamingAmt
Cash Prizes Total Gaming$75,000CashPrizesTotalGamingAmt
Direct Expense Summary Gaming$75,000DirectExpenseSummaryGamingAmt
Net Gaming Income Summary$144,400NetGamingIncomeSummaryAmt
FieldValueIRS element (for citing)
States Where Gaming ConductedFLStatesWhereGamingConductedCd
LicensedfalseLicensedInd
Explanation If NoSEC. 849.0935 FLORIDA STATUTES (1996 SUPP) AUTHORIZES TAX-EXEMPTExplanationIfNoTxt
License Suspended EtcfalseLicenseSuspendedEtcInd
Gaming With NonmembersfalseGamingWithNonmembersInd
Member Of Other EntityfalseMemberOfOtherEntityInd
Gaming Other Facility1.00000GamingOtherFacilityPct
Individual With BooksDAVID FASSINOIndividualWithBooksNm

Persons With Books US Address PersonsWithBooksUSAddress

FieldValueIRS element (for citing)
Address Line1150 W UNIVERSITY BLVDAddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32901ZIPCd
FieldValueIRS element (for citing)
Cntrct With3rd Prty For Game RevfalseCntrctWith3rdPrtyForGameRevInd
Gaming Manager PersonMICHELLE FARQUHARSONGamingManagerPersonNm
Gaming Manager Services ProvTRACK/TABULATE RESULTSGamingManagerServicesProvTxt
Gaming Manager Is EmployeeYes (X)GamingManagerIsEmployeeInd
Charitable Distribution RqrfalseCharitableDistributionRqrInd

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
First Class Or Charter TravelYes (X)FirstClassOrCharterTravelInd
Travel For CompanionsYes (X)TravelForCompanionsInd
Idemnification Gross Up PmtsYes (X)IdemnificationGrossUpPmtsInd
Housing Allowance Or ResidenceYes (X)HousingAllowanceOrResidenceInd
Club Dues Or FeesYes (X)ClubDuesOrFeesInd
Written Policy Ref T And E ExpnssYes (true)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (true)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentYes (true)SeverancePaymentInd
Supplemental Nonqual Rtr PlanfalseSupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd
Comp Based On Revenue Of Flng OrgfalseCompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related OrgsfalseCompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng OrgfalseCompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd OrgsfalseCompBsdNetEarnsRltdOrgsInd
Any Non Fixed PaymentsfalseAnyNonFixedPaymentsInd
Initial Contract ExceptionfalseInitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (28 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtBonus Filing OrganizationBonusFilingOrganizationAmountOther Compensation Filing OrgOtherCompensationFilingOrgAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt
T DWAYNE MCCAY
PRESIDENT/TRUSTEE$515,628$30,000$14,081$28,012$587,721
ANTHONY J CATANESE
PRESIDENT EMERITUS$489,016$15,154$28,225$532,395
CATHY WOOD
CFO/SVP$325,629$4,864$27,872$358,365
FRANK KINNEY
SVP, CHIEF OF STAFF$225,868$7,633$22,484$255,985
MONICA BALOGA
SVP & PROVOST$154,233$3,257$25,860$183,350
MARTIN GLICKSMAN
DEAN$292,906$9,933$14,632$317,471
WINSTON SCOTT
SVP$269,000$7,270$14,458$290,728
GUY BOY
DEAN$216,763$2,069$8,131$226,963
SHIRLEY BECKER
SVP$212,533$4,903$18,928$236,364
GARY HAMME
VP$205,548$6,687$28,012$240,247
MARCO CARVALHO
DEAN$205,219$27,635$232,854
MARY BETH KENKEL
DEAN$190,019$3,763$24,163$217,945
KORHAN OYMAN
DEAN$172,923$1,095$26,785$200,803
HAMMID RASSOUL
DEAN$171,322$1,982$26,752$200,056
THEODORE R RICHARDSON III
DEAN$159,415$9,560$14,386$183,361
ERIC KLEDZIK
VP$155,809$1,283$22,721$179,813
RANDY ALFORD
DEAN$148,443$2,123$15,657$166,223
DAVID J WELDON
PROFESSOR$215,192$215,192
WILLIAM ARRASMITH
PROFESSOR$193,325$8,831$202,156$2
STEVEN W SHAW
PROFESSOR$188,739$21,608$210,347
ABRAM L WALTON
PROFESSOR$188,416$35,342$223,758
MARK BUSH
PROFESSOR$184,072$31,567$215,639$1
SUSAN ST ONGE
SVP$307,000$8,480$14,453$329,933
LESLIE HIELEMA
VP$221,425$1,831$21,176$244,432
MICHAEL SEELEY
VP$183,632$2,892$17,890$204,414
SEMEN KOKSAL
VP$164,256$816$24,404$189,476
GABY HAWATT
SVP$141,523$3,440$15,771$160,734
KEN STACKPOOLE
VP$119,067$2,704$9,703$131,474

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE J, PAGE 1, PART I, LINE 1A-FIRST CLASS TRAVEL MAY OCCUR BASED ON THE LENGTH OF TRAVEL TIME. -THE PRESIDENT'S SPOUSE MAY, ON OCCASION, ACCOMPANY THE PRESIDENT ON BUSINESS TRIPS ON BEHALF OF THE UNIVERSITY. -TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: TAXES ARE GROSSED UP ON SOME MINOR FRINGE BENEFITS. -THE PRESIDENT OF THE UNIVERSITY RECEIVES A HOUSING ALLOWANCE OF 50,000 PER YEAR. THIS AMOUNT IS INCLUDED IN HIS SALARY AS REPORTED ON FORM 990, PART VII.
SCHEDULE J, PAGE 1, PART I, LINE 4LESLIE HIELEMA 33,083 0 0 KEN STACKPOOLE 4,250 0 0

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd

Issuer Name IssuerName

FieldValueIRS element (for citing)
Business Name Line1BREVARD CNTY ED FAC AUTHORITYBusinessNameLine1Txt
FieldValueIRS element (for citing)
Bond Issuer EIN596000253BondIssuerEIN
CUSIP123456789CUSIPNum
Bond Issued2013-02-01BondIssuedDt
Issue Price$35,000,000IssuePriceAmt
Purpose25M REFUNDING, 10M CONSTRUCTIONPurposeDesc
DefeasedfalseDefeasedInd
On Behalf Of IssuerfalseOnBehalfOfIssuerInd
Pool FinancingfalsePoolFinancingInd

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Retired$5,475,600RetiredAmt
Total Proceeds$35,000,000TotalProceedsAmt
Capital Expenditures$10,000,000CapitalExpendituresAmt
Substantial Completion2013SubstantialCompletionYr
Current RefundingYes (true)CurrentRefundingInd
Advance RefundingfalseAdvanceRefundingInd
Final Allocation MadefalseFinalAllocationMadeInd
Adequate Books And Rec MaintYes (true)AdequateBooksAndRecMaintInd

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Owning Bond Financed PropertyfalseOwningBondFinancedPropertyInd
Any Lease ArrangementsfalseAnyLeaseArrangementsInd
Mgmt Contract Bond Fincd PropfalseMgmtContractBondFincdPropInd
Any Research AgreementsfalseAnyResearchAgreementsInd
Private Bus Use By Others0.00010PrivateBusUseByOthersPct
Total Private Business Use0.00010TotalPrivateBusinessUsePct
Bond Iss Meet Prvt Sec Pymt TestYes (true)BondIssMeetPrvtSecPymtTestInd
Change In Use Bond Financed PropfalseChangeInUseBondFinancedPropInd
Procs Nonqualified Bond RemdtdYes (true)ProcsNonqualifiedBondRemdtdInd

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Form8038 T FiledfalseForm8038TFiledInd
Rebate Not Due YetfalseRebateNotDueYetInd
Exception To RebatefalseExceptionToRebateInd
No Rebate DuefalseNoRebateDueInd
Variable Rate IssuefalseVariableRateIssueInd
Hedge Identified In Bks And RecfalseHedgeIdentifiedInBksAndRecInd
Gross Proceeds Invested In GICfalseGrossProceedsInvestedInGICInd
Gross Proceeds InvestedfalseGrossProceedsInvestedInd
Written Proc To Monitor ReqsYes (true)WrittenProcToMonitorReqsInd

Procedures Corrective Action ProceduresCorrectiveActionGrp

FieldValueIRS element (for citing)
Bond ReferenceABondReferenceCd
Procedures Corrective ActionYes (true)ProceduresCorrectiveActionInd

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

FieldValueIRS element (for citing)
PersonMIKE BISKBISK EDUCATION INCPersonNm
FieldValueIRS element (for citing)
Relationship DescriptionTRUSTEERelationshipDescriptionTxt
Transaction$11,241,000TransactionAmt
TransactionONLINE LEARNINGTransactionDesc
Sharing Of RevenuesfalseSharingOfRevenuesInd

Schedule M IRS990ScheduleM

Other Non Cash Contri Table OtherNonCashContriTableGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
DescEDUCATION EQUIPDesc
Contribution10ContributionCnt
Noncash Contributions Rpt F990$1,072,439NoncashContributionsRptF990Amt
Method Of Determining RevenuesAPPRAISAL/COSTMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Any Property That Must Be HeldfalseAnyPropertyThatMustBeHeldInd
Review Process Unusual NC GiftsYes (true)ReviewProcessUnusualNCGiftsInd
Third Parties UsedfalseThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE M, PAGE 2, PART IIFormAndLineReferenceDesc
ExplanationTHE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990 - ORGANIZATION'S MISSIONFLORIDA 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 11BTHE FORM 990 IS REVIEWED INTERNALLY BY THE CONTROLLER AND THE SENIOR VICE PRESIDENT FOR FINANCIAL AFFAIRS AND 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 12CFLORIDA 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 15ATHE 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 15BTHE 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 19THE 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.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)

Business Name Line2DisregardedEntityName/BusinessNameLine2TxtAddress Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Txt
FIT AVIATION LLC
FIT AVIATION LLC801 HARRY GOODE WAYMELBOURNEFL32901593746142FLIGHT INSFL$6,149,513$3,233,670NA
FIT REALTY LLC
FIT REALTY LLC150 W UNIVERSITY BLVDMELBOURNEFL32901REAL ESTFLNA

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1FIT MUSEUM OF ART INCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1150 W UNIVERSITY BLVDAddressLine1Txt
CityMELBOURNECityNm
State AbbreviationFLStateAbbreviationCd
ZIP32901ZIPCd
FieldValueIRS element (for citing)
EIN591804524EIN
Primary ActivitiesMUSEUMPrimaryActivitiesTxt
Legal Domicile StateFLLegalDomicileStateCd
Exempt Code Section501ExemptCodeSectionTxt
Public Charity Status10PublicCharityStatusTxt
Direct Controlling NAN/ADirectControllingNACd
Controlled OrganizationfalseControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgfalseGiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgYes (true)LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgfalsePerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesfalseSharingOfFacilitiesInd
Paid Employees SharingfalsePaidEmployeesSharingInd
Reimbursement Paid To Other OrgfalseReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgfalseTransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1FIT MUSEUM OF ART INCBusinessNameLine1Txt
Business Name Line2FIT MUSEUM OF ART INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Transaction TypeDTransactionTypeTxt
Involved$1,512,481InvolvedAmt
Method Of Amount DeterminationCOSTMethodOfAmountDeterminationTxt