2021-05-17T18:02:17-07:00 2020-06-30 990 2019-07-01 590668483 FLORIDA MEMORIAL UNIVERSITY INC FLOR 3054300339 15800 NW 42nd AVENUE MIAMI GARDENS FL 330546155 Rodney Sobelson Controller 3056263614 2021-05-17 2019 2022-09-23 18:48:47Z Rodney Sobelson 15800 NW 42nd Avenue Miami Gardens FL 33054 34005848 0 X FMUNIV.EDU X 1862 FL HIGHER EDUCATION 27 26 436 0 0 0 11994757 10179881 23683287 23065664 431933 283608 421573 476695 36531550 34005848 4936431 4412450 0 0 14322111 12954357 0 0 613361 16643585 27821965 35902127 45188772 629423 -11182924 91744968 90969603 45598596 13978722 46146372 76990881 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 3845044 390488 83317 Student Services Programs: Support services and activities surrounding students. The University has approximately 1,100 students. 2573563 1297959 14014411 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). 2900697 565234 233798 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. 12856029 900619 4238707 Education, General/Other: Institutional Support. Infrastructure to support the University and carryout it's primary goal of educating students. (~1,100 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). 4412450 0 0 Grants & Other Assistance program service expenses 17268479 900619 4238707 26587783 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 39 0 0 436 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 1 1 1 1 1 1 1 1 0 X Rodney Sobelson 3054300339 15800 NW 42nd AVENUE MIAMI GARDENS FL 330546155 Jaffus Hardrick President 40 1 X 285000 0 0 Adrienne Cooper Provost and Exec VP 40 0 X 185000 0 9154 Rodney Sobelson AVP for Finance and Administration 45 0.5 X 140000 0 11938 Cory Witherspoon Vice President of Advancement 40 0 X 115000 0 17365 John Preston Jones Dean of School of Business 40 0 X 130000 0 0 William E Hopper AVP Institutional Effectiveness 40 0 X 98734 0 14235 Dr Richard Yaklich Trustee, Faculty Senate 40 0 X 85000 0 4875 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 0.5 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 Ricardo Forbes Trustee 1 0 X 0 0 0 Mr Charles W George Trustee 1 1 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 Cox 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 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 Walter Weatherington Trustee, Vice Chair 1 1 X 0 0 0 1038734 0 57567 12 0 1 0 Thompson Hospitality Services 505 Huntmar Park Drive Suite 300 Herndon VA 20170 Cafeteria foodservice 3091563 Florida Power & Light General Mail Facility Miami FL 33188 Electricity 776975 Florida Blue 4800 Deerwood Campus Parkway Jacksonville FL 32246 Health Insurance - Employees 1066185 US Security 3101 W Hallandale Beach Blvd Suite 102 Pembroke Park FL 33009 Security Services 722437 American Express 2975 W CORPORATE LAKES BLVD WESTON FL 33331 Credit Card Vendor 632025 21 0 0 0 0 8786161 1393720 0 10179881 Tuition & Fees gross of student discounts 611310 17885837 17885837 0 0 Auxiliary Enterprises 611310 5179827 5179827 0 0 0 0 0 0 23065664 283608 283608 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other sources of revenue 611310 476695 476695 0 0 0 0 0 0 476695 34005848 23825967 0 0 0 0 4412450 4412450 0 0 0 0 972892 529087 429171 14634 0 0 0 0 10274701 5587682 4532466 154553 0 0 0 0 934645 508287 412299 14059 772119 419901 340604 11614 6024558 3276330 2657606 90622 213495 116105 94179 3211 231959 126146 102324 3489 90629 49287 39979 1363 0 0 0 0 0 0 598247 325344 263904 8999 120479 65520 53147 1812 487526 265131 215062 7333 622905 338754 274781 9370 0 0 0 0 93071 50615 41056 1400 1374279 747373 606234 20672 0 0 0 0 13920 7570 6141 209 0 0 0 0 0 0 0 0 2103328 1143851 927838 31639 1928747 1048909 850826 29012 Utilities & property taxes 1219955 663447 538157 18351 Books & subscriptions 1111660 604553 490385 16722 Write off of Long-term debt related costs 7763601 4222072 3424748 116781 Miscellaneous Expense 1608268 874623 709453 24192 2215338 1204746 977268 33324 45188772 26587783 17987628 613361 0 0 13303752 11970320 1513981 1930206 2552397 3735919 0 0 0 0 0 0 0 0 1650204 998632 102313373 51732698 52025411 50580675 6121991 6545231 0 0 0 0 0 0 14577232 15208620 91744968 90969603 2997329 3848879 0 0 1852741 4851753 39655835 0 0 0 2878000 0 1092691 2400090 45598596 13978722 X 35565626 66248767 10580746 10742114 46146372 76990881 91744968 90969603 X -11182924 141344 0 0 0 41886089 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. 102 0 161368 0 0 0 3045261 0 1 1 X 1 100 0 0 0 1 0 50 7500 0 3998842 161368 350891 38331 0 0 4472770 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 0.39 0.5 0.11 0 0 0 797353 797353 0 74402765 27929911 46472854 0 0 0 0 0 27073355 23802787 3270568 0 39900 0 39900 50580675 Beneficial Interest in FMU Foundation 13721591 Other receivables 1487029 15208620 0 Agency Liabilities 1563454 Designated Scholarships Payable 743617 Legal Reserve 50000 Other miscellaneous liabilities 43019 2400090 X 32559062 141344 0 0 0 141344 32417718 0 1588130 1588130 34005848 43600618 0 0 0 0 0 43600618 0 1588154 1588154 45188772 Schedule D, Part II, Line 9 The University's Foundation owns a total of approximately 280 acres of land, of which 100 acres are uplands (balance are 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 4 details the Beneficial Interest in Foundation in the 2020 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, 2020 and 2019, 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, 2017 through June 30, 2020. 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 herein. Schedule D, Part XII, 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. $24 of total is rounding. 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 & Motor Vehicles sources of grants as well. 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. 567 0 4263112 Fair market value based on University rates for tuition, fees, room, board, and books. 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 X 0 0 0 0 0 0 0 0 0 Dr Richard Yaklich Trustee, Faculty Senate 85000 0 0 0 0 0 0 0 4875 0 89875 0 0 0 Jaffus Hardrick President 285000 0 0 0 0 0 0 0 0 0 285000 0 0 0 Adrienne Cooper Provost and Exec VP 185000 0 0 0 0 0 0 0 9154 0 194154 0 0 0 Rodney Sobelson AVP for Finance and Administration 140000 0 0 0 0 0 0 0 11938 0 151938 0 0 0 John Preston Jones Dean of School of Business 130000 0 0 0 0 0 0 0 0 0 130000 0 0 0 Cory Witherspoon Vice President of Advancement 115000 0 0 0 0 0 0 0 17365 0 132365 0 0 0 William E Hopper AVP Institutional Effectiveness 98734 0 0 0 0 0 0 0 14235 0 112969 0 0 0 Schedule J, Part I, Line 1a The President of the University is allotted a monthly housing allowance. 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, it was provided to the Board Chair, and 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 AVP of Finance completing the supporting schedules that roll into the Form 990, answering all questions within the 990, performing the verification check online for errors, clearing such errors (if any), and filing the form online prior to the 5-17-2021 deadline. 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 benchmarked 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 2020, as a result of the Consolidated Appropriations Act of 2021, the University had all of its HBCU Capital Financing Long-term debt forgiven in the amount of $41,933,271. Additionally, there was a decrease in the beneficial interest in the FMU Foundation of $47,206. This return is being filed on Monday, May 17, 2021, which is the due date for Form 990 returns on extension. The appropriate extension (Form 8868) was filed and granted.