2016-02-15T13:38:19-06:00 2015-06-30 204193611 Batts Morrison Wales & Lee PA 801 North Orange Avenue Suite 800 Orlando FL 32801 990 2014-07-01 650683159 University of Fort Lauderdale Inc UNIV 9544867728 4069 NW 16th Street Lauderhill FL 33313 Brian Hankerson VP Finance 9544867728 2016-02-09 1 Julia W James P01772503 4077706000 2016-02-09 2014 2016-08-17 19:52:53Z Henry Fernandez 4069 NW 16th Street Lauderhill FL 33313 1173073 0 X www.uftl.edu X 1996 FL To be a premier Christian institution of higher learning empowering future leaders. 6 5 48 7 0 0 837104 933362 249935 194718 0 0 27651 44993 1114690 1173073 62722 97460 0 0 788053 740131 0 0 3250 259665 278407 1110440 1115998 4250 57075 297412 317145 81366 44024 216046 273121 X To be a premier Christian institution of higher learning empowering future leaders through higher educational degrees rooted in Biblical principles and academic excellence, and to influence the world intellectually, technologically, and through research. 0 0 936911 97460 239711 The University provides quality education for an ethnically and culturally diverse student population by equipping them with the capability to become productive citizens who continuously contribute to a global and rapidly changing society. Students receive an education rooted in Biblical principles and directed toward excellence in Christian ministry, leadership, business, and academia. Through academic excellence, the University maintains an innovative Christian learning environment that encourages and prepares its graduates to assume leadership roles in the community, the state, the nation, and the world. The University's belief is that excellence in education will bring about superior leaders and these achievers are essential to reach and restore the world for Jesus Christ. The University offers various undergraduate, graduate, and doctorate degrees in business administration and religious studies. The University's success is measured by the granting of degrees at the Associates, Bachelors, Masters, and Doctoral levels to students that meet the established academic requirements. 936911 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 48 1 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Brian Hankerson 9544867728 4069 NW 16th Street Lauderhill FL 33313 Henry B Fernandez President/Director 15.00 X X 62308 0 0 Ilona Holmes Secretary/Director 5.00 X X 0 0 0 Myles Munroe Director (thru 11/2014) 5.00 X 0 0 0 Patricia Morgan Director 5.00 X 0 0 0 Willie Gary Director 5.00 X 0 0 0 Margaret Bates Director 5.00 X 0 0 0 Brian Hankerson VP Finance 20.00 X 39617 0 7113 101925 0 7113 0 0 0 0 0 933362 933362 Tuition & fees 611710 194718 194718 194718 Miscellaneous Income 900099 44993 44993 44993 1173073 239711 0 0 72000 72000 25460 25460 105000 21000 84000 591850 572188 19662 43281 35923 7358 8570 7027 1543 17304 14189 3115 20919 13878 7041 4966 3725 1241 43124 29906 9968 3250 16424 12318 4106 6063 4547 1516 9974 7480 2494 2380 1785 595 11994 8996 2998 83028 62271 20757 Licenses & Fees 16747 12561 4186 Bad debt expense 15885 15885 Miscellaneous 12329 9247 3082 Repairs & maintenance 5581 4186 1395 3119 2339 780 1115998 936911 175837 3250 6375 24923 114096 94399 11900 11900 6930 6503 152637 120167 41086 32470 117025 146950 297412 317145 50791 23881 30575 20143 81366 44024 X 216046 273121 216046 273121 297412 317145 57075 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58963 35466 23497 49388 44700 4688 44286 40001 4285 32470 Cash value of life insurance policy 146950 146950 X 1209073 36000 36000 1173073 0 1173073 1151998 36000 36000 1115998 0 1115998 Part X, Line 2: UFTL is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code. As a result, no income tax provision or liability has been provided in the accompanying financial statements. The FASB ASC interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. This interpretation also provides guidance for recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. This interpretation must be applied to all existing tax positions. The cumulative effect, if any is to be reported as an adjustment to operating net assets. This interpretation will require management of UFTL to analyze all open tax years, as defined by the statute of limitations, for all major jurisdictions, which includes federal and states. Open tax years are those that are open for examination by taxing authorities (i.e. generally the last three tax year ends and the interim tax period since then). UFTL has no examination in progress. Management believes that UFTL is no longer subject to income tax examination by federal and state tax authorities for fiscal years before June 30, 2012. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The University includes a statement of its racially nondiscriminatory policy in its Articles of Incorporation and all catalogues and communications with the public dealing with student admissions, programs, and scholarships. The University did not publicize its racially nondiscriminatory policy through newspaper or broadcast media during the period of solicitation for students. However, the University customarily draws its students from local communities and follows its racially nondiscriminatory policy towards students as evidenced by its current enrollment of racial minority groups in meaningful numbers. The University's current enrollment consists of 34 total students of which 85% are African American, 9% are Caucasian, and 6% are Hispanic. The University's student population is ethnically and culturally diverse. Accordingly, under Rev. Proc. 75-50, section 4.03(2)(c), this publicity method is not applicable to the University. Schedule E, Part I, Line 6 The University participates in the United States Department of Education Federal Title IV program which includes the Pell Grant Program and Direct Student Loans. Schedule E, Part I, Line 7 The University certifies that it is in compliance with the requirements of sections 4.01 through 4.05 of Rev. Proc. 75-50. As noted in the response to Schedule E, Line 3, the University follows its racially nondiscriminatory policy towards students as evidenced by its current enrollment of racial minority groups in meaningful numbers. This ethnically and culturally diverse student population is a meaningful indication of a racially nondiscriminatory policy towards students in the community. 1 The Faith Center 5555 NW 95th Avenue Sunrise FL 33351 650252132 501(c)(3) 72000 General support 1 0 Scholarships to attend the University 9 25460 Cash Part I, Line 2: The University may make occasional grants to another exempt organization whose exempt purposes are consistent with those of the University. The recipient organization is not a related organization for 990 reporting purposes. Certain members of the Board of Directors and management of the University also serve on the Board of Directors and/or management of the recipient organization and, through their involvement, closely monitor the use of grant funds. Part I, Line 2: The University also provides scholarships to individuals to attend the University. Scholarship recipients are selected based on a written application which is reviewed by the Financial Aid Department and/or scholarship committee. Scholarships are awarded based on a combination of student financial need and merit and are applied directly to the student's account as a reduction in tuition and fees. The University monitors each recipient student to ensure that he/she remains an active, enrolled student and satisfies the academic and other criteria for maintaining the scholarship. If the student withdraws from the University or fails to meet the scholarship criteria, any remaining scholarship funds are returned to the funding program to be awarded to another student. Form 990, Part VI, Section B, line 11 The University's top management official and top financial official each review the Organization's Form 990 prior to its filing with the IRS. A copy of the final Form 990, in its entirety including Schedule B, is also provided to the University's governing body prior to its filing with the IRS. Form 990, Part VI, Section B, line 12c The University's conflict of interest policy is distributed to each member of the University's governing body, its officers, and its key employees on an annual basis. Each such individual provides an annual disclosure statement indicating that they have received, read, understood, and agreed to comply with the policy, and certifying that: (1) they have no relationships or interests that present a conflict of interest, (2) they have one or more conflicts of interest that have been fully disclosed as required by the policy and have been properly administered in conformity with the policy, or (3) they have previously undisclosed conflicts of interest and disclosing the details of such conflicts. Any disclosure statement with previously undisclosed conflicts of interest are forwarded to appropriate University officials to take appropriate actions as required by the policy. Form 990, Part VI, Section B, line 15 The University has adopted an executive compensation setting policy applicable to all disqualified persons, including the University's President, officers, and key employees. Under the policy, independent members of the Board of Directors annually review and approve the compensation levels of all individuals subject to the policy. The deliberations and decisions of the Board are contemporaneously substantiated. The Board utilizes comparability data in its deliberations; updated comparability data is generally obtained every two to three years. Form 990, Part VI, Section C, line 19 The University provides, upon request, copies of its articles of incorporation, bylaws, conflict of interest policy, and its financial statements. Form 990, Part VI, Section A, Line 1a: The University's Board of Directors has delegated authority to act on its behalf to an executive committee consisting of the officers of the Board and one other director of the Board. The Board may designate to such committee the powers and authority of the Board in the management and affairs of the University as deemed appropriate by the Board. The primary responsibility of the executive committee is to assure that the Board policies and long-range plans are achieved. Form 990, Part XII, Line 2c: The University's Board of Directors, or a committee thereof, assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.