FLORIDA INSTITUTE OF TECHNOLOGY INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- FLORIDA INSTITUTE OF TECHNOLOGY INC (EIN 59-6046500)
- Tax period
- 2012-05-01 to 2013-04-30
- Filed
- 2013-12-16
- IRS object ID
- 201343509349300134
- Schema version
- 2012v2.3
- 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
- Form 990
- Schedule A
- Schedule C
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-12-16T12:39:15-06:00 | Timestamp |
| Tax Period End Date | 2013-04-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8035 SPYGLASS HILL RD | AddressLine1 |
| City | MELBOURNE | City |
| State | FL | State |
| ZIP Code | 32940 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-05-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 596046500 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FLORIDA INSTITUTE OF TECHNOLOGY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FLOR | NameControl |
| Phone | 3216627297 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 W UNIVERSITY BLVD | AddressLine1 |
| City | MELBOURNE | City |
| State | FL | State |
| ZIP Code | 329016975 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ROBERT NIEBUHR | Name |
| Title | SR. VP FINANCIAL AFFAIRS-CFO | Title |
| Phone | 3216627297 | Phone |
| Date Signed | 2013-12-15 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | HEATHER K MCDONOUGH CPA | Name |
| Phone | 3217572020 | Phone |
| Date Prepared | 2013-12-16 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | ROBERT NIEBUHR | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 W UNIVERSITY BLVD | AddressLine1 |
| City | MELBOURNE | City |
| State | FL | State |
| ZIP Code | 32901 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 351493650 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.FIT.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1958 | YearFormation |
| State Legal Domicile | FL | StateLegalDomicile |
| Activity Or Mission Description | TO PROVIDE EDUCATION - THE UNIVERSITY PROVIDES EDUCATIONAL SERVICES TO BACHELORS, MASTERS AND DOCTORAL STUDENTS. FLORIDA INSTITUTE OF TECHNOLOGY IS AN INDEPENDENT TECHNOLOGICAL UNIVERSITY THAT PROVIDES QUALITY EDUCATION, FURTHERS KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH, AND SERVES THE DIVERSE NEEDS OF OUR LOCAL, STATE, NATIONAL, AND INTERNATIONAL CONSTITUENCIES. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 33 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 30 | NbrIndependentVotingMembers |
| Total Nbr Employees | 3356 | TotalNbrEmployees |
| Total Gross UBI | 8881993 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -4345216 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 113237618 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 110077760 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 176024389 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 187075098 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 902242 | InvestmentIncomePriorYear |
| Investment Income Current Year | 2870982 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 137161 | OtherRevenuePriorYear |
| Other Revenue Current Year | 201666 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 290301410 | TotalRevenuePriorYear |
| Total Revenue Current Year | 300225506 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 126771079 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 129943124 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 77639590 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 89460100 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 81946 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 4787790 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 76856887 | OtherExpensePriorYear |
| Other Expenses Current Year | 75905443 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 281349502 | TotalExpensesPriorYear |
| Total Expenses Current Year | 295308667 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 8951908 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 4916839 | RevenuesLessExpensesCY |
| Total Assets BOY | 191375680 | TotalAssetsBOY |
| Total Assets EOY | 202846583 | TotalAssetsEOY |
| Total Liabilities BOY | 76967321 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 80673024 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 114408359 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 122173559 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | TO PROVIDE EDUCATION - THE UNIVERSITY PROVIDES EDUCATIONAL SERVICES TO BACHELORS, MASTERS AND DOCTORAL STUDENTS. FLORIDA INSTITUTE OF TECHNOLOGY IS AN INDEPENDENT TECHNOLOGICAL UNIVERSITY THAT PROVIDES QUALITY EDUCATION, FURTHERS KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH, AND SERVES THE DIVERSE NEEDS OF OUR LOCAL, STATE, NATIONAL, AND INTERNATIONAL CONSTITUENCIES. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 55423505 | Expense |
| Grants | 8422936 | Grants |
| Revenue | 155079198 | Revenue |
| Description | INSTRUCTION AND ACADEMIC SUPPORT THE UNIVERSITY INSTRUCTED 2,978 UNDERGRADUATE AND 2,406 GRADUATE STUDENTS ON-CAMPUS, IN ADDITION TO 3,432 ONLINE STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS IN THE FOLLOWING FIELDS OF STUDY: SCIENCE, ENGINEERING, AERONAUTICS, BUSINESS, HUMANITIES, MATHEMATICS, PSYCHOLOGY, COMMUNICATIONS, AVIATION, COMPUTER TECHNOLOGY, ENVIRONMENTAL STUDIES AND EDUCATION. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 129957483 | Expense |
| Grants | 91655806 | Grants |
| Description | STATEMENT OF STUDENT AID THE UNITED STATES GOVERNMENT AND SEVERAL STATES PROVIDE FUNDS FOR OUR 4,224 STUDENTS ON OUR CAMPUSES IN MELBOURNE, FL; HUNTSVILLE, AL; ABERDEEN AND PATUXENT RIVER, MD; PICATINNY, NJ; AND FORT LEE, NCR AND HAMPTON ROADS, VA LOCATIONS. FUNDS WERE ALSO PROVIDED FOR THOSE STUDENTS OPTING TO TAKE CLASSES VIA THE INTERNET. THE SCHOLARSHIPS AND OTHER FINANCIAL AID SUPPORTED MANY BRIGHT FUTURES, TEACHING STUDENTS, SCIENCE AND ENGINEERING STUDENTS, AND CHILDREN OF DECEASED OR DISABLED VETERANS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 47763110 | Expense |
| Revenue | 19202747 | Revenue |
| Description | STUDENT SERVICES AND AUXILIARY ENTERPRISES 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. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 14814757 | Expense |
| Revenue | 7103421 | Revenue |
| Description | OTHER PROGRAM SERVICES: SPONSORED RESEARCH AND TRAINING PROGRAM. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 14814757 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Rev | 7103421 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 247958855 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | true | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | true | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | true | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | true | School |
| Foreign Office | true | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | true | FundraisingActivities |
| Gaming | true | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | true | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | true | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | true | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | true | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 15 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 14 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 3356 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | true | QuidProQuoContributions |
| Quid Pro Quo Disclosure | true | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | true | FundsToPayPremiums |
| Premiums Paid | true | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 33 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 30 | NumberIndependentVotingMembers |
| Family Or Business Relationship | true | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | FL | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ROBERT NIEBUHR | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3216747297 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 W UNIVERSITY BLVD | AddressLine1 |
| City | MELBOURNE | City |
| State | FL | State |
| ZIP Code | 32901 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (51 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| ANTHONY J CATANESE | ||||||||
| PRESIDENT/TR | 40.00 | X | X | 594568 | 0 | 29477 | ||
| RAYMOND A ARMSTRONG MD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| RICHARD N BANEY MD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| NATHAN M BISK | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| HARRY E BRANDON | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOSEPH CARUSO | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ANDREW M CLARK PHD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| CHARLES CLEMENTE | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| DALE A DETTMER JD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| PHILLIP W FARMER | ||||||||
| TRUSTEE/CHAI | 2.00 | X | 0 | 0 | 0 | |||
| JOSEPH M FLAMMIO | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| STEVEN FREEMAN | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| RUTH E FUNK | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOHN T HARTLEY | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| HENRY HEFLICH | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ALLEN S HENRY PHD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| BJORNAR K HERMANSEN | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ERIK E JOH | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| RICHARD P MCNEIGHT | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| WILLIAM MUNS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ROBERT L PHEBUS JR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| WILLIAM C POTTER JD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| TRAVIS PROCTOR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JAMES E PRUITT | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| KENNETH P REVAY | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| MICHAEL SCAFATI | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| EDWARD W SCOTT JR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| SCOTT J SEYMOUR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOHN L SLACK | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| F ALAN SMITH | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ELIZABETH J SWANN | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JAMES W THOMAS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| THOMAS VICE | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JONATHAN ZUNG | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| T DWAYNE MCCAY | ||||||||
| COO/SECRETAR | 40.00 | X | 370122 | 0 | 25681 | |||
| ROBERT NIEBUHR | ||||||||
| SVP/CFO/TREA | 40.00 | X | 216650 | 0 | 12503 | |||
| KENNETH STACKPOOLE | ||||||||
| SVP/DEAN | 40.00 | 297958 | 0 | 26267 | X | |||
| FREDRIC M HAM | ||||||||
| DEAN | 40.00 | 264605 | 0 | 14346 | X | |||
| WINSTON SCOTT | ||||||||
| SVP | 40.00 | 236483 | 0 | 13294 | X | |||
| FRANK L KINNEY | ||||||||
| VP | 40.00 | 202838 | 0 | 22316 | X | |||
| SHIRLEY BECKER | ||||||||
| DEAN | 40.00 | 191533 | 0 | 28156 | X | |||
| GARY L HAMME | ||||||||
| ASSOCIATE VP | 40.00 | 185325 | 0 | 10837 | X | |||
| SUSAN ST ONGE | ||||||||
| SVP/CDO | 40.00 | 176523 | 0 | 8379 | X | |||
| GORDON NELSON | ||||||||
| VP | 40.00 | 170969 | 0 | 16530 | X | |||
| MARY BETH KENKEL | ||||||||
| DEAN | 40.00 | 169944 | 0 | 22944 | X | |||
| DOROTHY ALLEN | ||||||||
| VP | 40.00 | 151857 | 0 | 12910 | X | |||
| THEODORE BAKER | ||||||||
| PROFESSOR | 40.00 | 194966 | 0 | 1090 | X | |||
| RICHARD FORD | ||||||||
| PROFESSOR | 40.00 | 182688 | 0 | 20000 | X | |||
| CEM KANER | ||||||||
| PROFESSOR | 40.00 | 180241 | 0 | 28464 | X | |||
| HECTOR GUTIERREZ | ||||||||
| PROFESSOR | 40.00 | 171751 | 0 | 32263 | X | |||
| GEOFFREY SWAIN | ||||||||
| PROFESSOR | 40.00 | 169420 | 0 | 8376 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 4128441 | TotalReportableCompFromOrg |
| Total Other Compensation | 333833 | TotalOtherCompensation |
| Number Individuals GT100 K | 103 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ABA TECHNOLOGIES INC | |||||
| 3011 S BABCOCK ST STE 353 | MELBOURNE | FL | 32901 | PROGRAMMING | 2971050 |
| MH WILLIAMS CONSTRUCTION GROUP INC | |||||
| 2287 W EAU GALLIE BLVD STE E | MELBOURNE | FL | 32935 | CONSTRUCTION | 2594072 |
| ELLUCIAN CO LP | |||||
| 2300 MAITLAND CENTER PKWY | MAITLAND | FL | 32751 | SOFTWARE | 727734 |
| CERT GENERAL CONTRACTORS | |||||
| 1120 E PALMETTO AVE | MELBOURNE | FL | 32901 | CONTRACTING | 669266 |
| SHAW CONTRACT FLOORING SERVICES INC | |||||
| 2845 W KING ST STE 209 | COCOA | FL | 32926 | CONTRACTING | 578809 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 15 | NumberOfContractorsGT100K |
| Fundraising Events | 156268 | FundraisingEvents |
| Government Grants | 99363634 | GovernmentGrants |
| All Other Contributions | 10557858 | AllOtherContributions |
| Total Contributions | 110077760 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Business CodeBusinessCode | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| TUITION & FEES | 156738235 | 156738235 | ||
| HOUSING & FOOD SERVICE | 15961597 | 15961597 | ||
| FIT AVIATION, LLC | 9054684 | 611710 | 9054684 | |
| OTHER | 3586069 | 3586069 | ||
| RECOVER INDIRECT COSTS-CONTRA | 1734513 | 1734513 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 187075098 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1153440 | TotalRevenueColumn |
| Exclusion | $1,153,440 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 292258 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 464949 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -172691 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -172691 | TotalRevenueColumn |
| Unrelated Business Revenue | -172691 | UnrelatedBusinessRevenue |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 52316735 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 50599193 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1717542 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1717542 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1717542 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 339474 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 156268 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 118193 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 221281 | TotalRevenueColumn |
| Exclusion | $221,281 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Gaming | 225600 | GrossIncomeGaming |
| Gaming Direct Expenses | 85809 | GamingDirectExpenses |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 139791 | TotalRevenueColumn |
| Exclusion | $139,791 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | INSURANCE RECOVERY | Description |
| Total Revenue Column | 13285 | TotalRevenueColumn |
| Exclusion | $13,285 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 13285 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 300225506 | TotalRevenueColumn |
| Related Or Exempt Function Income | 179737956 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 8881993 | UnrelatedBusinessRevenue |
| Exclusion | $1,527,797 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 129943124 | Total |
| Program Services | 129943124 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4149883 | Total |
| Program Services | 1172036 | ProgramServices |
| Management And General | 2801324 | ManagementAndGeneral |
| Fundraising | 176523 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68418791 | Total |
| Program Services | 55187713 | ProgramServices |
| Management And General | 11423873 | ManagementAndGeneral |
| Fundraising | 1807205 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2124823 | Total |
| Program Services | 1566181 | ProgramServices |
| Management And General | 511203 | ManagementAndGeneral |
| Fundraising | 47439 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10049961 | Total |
| Program Services | 6757169 | ProgramServices |
| Management And General | 2960721 | ManagementAndGeneral |
| Fundraising | 332071 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4716642 | Total |
| Program Services | 3560948 | ProgramServices |
| Management And General | 1060817 | ManagementAndGeneral |
| Fundraising | 94877 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19622732 | Total |
| Program Services | 10564854 | ProgramServices |
| Management And General | 8462146 | ManagementAndGeneral |
| Fundraising | 595732 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 408177 | Total |
| Program Services | 31114 | ProgramServices |
| Management And General | 377042 | ManagementAndGeneral |
| Fundraising | 21 | Fundraising |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 208441 | Total |
| Management And General | 208441 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25503 | Total |
| Program Services | 25503 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2743027 | Total |
| Program Services | 2371728 | ProgramServices |
| Management And General | 71225 | ManagementAndGeneral |
| Fundraising | 300074 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12855207 | Total |
| Program Services | 8044435 | ProgramServices |
| Management And General | 4529862 | ManagementAndGeneral |
| Fundraising | 280910 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3326420 | Total |
| Program Services | 1642094 | ProgramServices |
| Management And General | 1473823 | ManagementAndGeneral |
| Fundraising | 210503 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6389156 | Total |
| Program Services | 2288082 | ProgramServices |
| Management And General | 4100954 | ManagementAndGeneral |
| Fundraising | 120 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2966751 | Total |
| Program Services | 2539642 | ProgramServices |
| Management And General | 311557 | ManagementAndGeneral |
| Fundraising | 115552 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1373902 | Total |
| Program Services | 807766 | ProgramServices |
| Management And General | 246219 | ManagementAndGeneral |
| Fundraising | 319917 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2036878 | Total |
| Program Services | 203478 | ProgramServices |
| Management And General | 1833400 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7907182 | Total |
| Program Services | 7907182 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3365431 | Total |
| Program Services | 3157944 | ProgramServices |
| Management And General | 207487 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| COGS | 3714645 | 3714645 | |
| TEACHING SCHOLARSHIP | 1759424 | 1745948 | 13476 |
| RESEARCH SCHOLARSHIP | 1755113 | 1270747 | 484366 |
| DIRECT COST | 1737846 | 1737846 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3709608 | Total |
| Program Services | 1718676 | ProgramServices |
| Management And General | 1484086 | ManagementAndGeneral |
| Fundraising | 506846 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 295308667 | Total |
| Program Services | 247958855 | ProgramServices |
| Management And General | 42562022 | ManagementAndGeneral |
| Fundraising | 4787790 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14059023 | BOY |
| EOY | 7024079 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2636200 | BOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3875605 | BOY |
| EOY | 2654932 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8112939 | BOY |
| EOY | 8434758 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5128620 | BOY |
| EOY | 4952111 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 822818 | BOY |
| EOY | 955497 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5673006 | BOY |
| EOY | 6640430 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 161050742 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 51340051 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 97259685 | BOY |
| EOY | 109710691 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53213645 | BOY |
| EOY | 57929579 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 594139 | BOY |
| EOY | 4544506 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 191375680 | BOY |
| EOY | 202846583 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18356478 | BOY |
| EOY | 17562979 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7982652 | BOY |
| EOY | 8784345 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25580709 | BOY |
| EOY | 34811528 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 808694 | BOY |
| EOY | 164393 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1583038 | BOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22655750 | BOY |
| EOY | 19349779 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 76967321 | BOY |
| EOY | 80673024 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60321187 | BOY |
| EOY | 61843404 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6908341 | BOY |
| EOY | 11455958 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 47178831 | BOY |
| EOY | 48874197 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 114408359 | BOY |
| EOY | 122173559 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 191375680 | BOY |
| EOY | 202846583 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 4916839 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 3108310 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | -259949 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | false | Volunteers |
| Paid Staff Or Management | false | PaidStaffOrManagement |
| Media Advertisements | false | MediaAdvertisements |
| Mailings Members | false | MailingsMembers |
| Publications Or Broadcast | false | PublicationsOrBroadcast |
| Grants Other Organizations | false | GrantsOtherOrganizations |
| Direct Contact Legislators | false | DirectContactLegislators |
| Rallies Demonstrations | false | RalliesDemonstrations |
| Other Activities | true | OtherActivities |
| Other Activities | $133,333 | OtherActivitiesAmount |
| Total Lobbying Expenditures IIB | 133333 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | false | NotDescribedIn501c3 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | SCHEDULE C, PART II-B, LINE 1 | ReturnReference |
| Explanation | FLORIDA INSTITUTE OF TECHNOLOGY CONTRACTED WITH TWO OUTSIDE VENDORS TO SPEAK DIRECTLY TO LEGISLATORS ON ITS BEHALF. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collect Used For Public Exhibition | X | CollectUsedForPublicExhibition |
| Solicited Assets For Sale | false | SolicitedAssetsForSale |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 48845386 | BeginningOfYearBalance |
| Contributions | 2229238 | Contributions |
| Investment Earnings Or Losses | 5683876 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | -705884 | GrantsOrScholarships |
| Other Expenditures | -1328343 | OtherExpenditures |
| Administrative Expenses | -184580 | AdministrativeExpenses |
| End Of Year Balance | 54539693 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 49602761 | BeginningOfYearBalance |
| Contributions | 780624 | Contributions |
| Investment Earnings Or Losses | 486837 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | -650923 | GrantsOrScholarships |
| Other Expenditures | -1198040 | OtherExpenditures |
| Administrative Expenses | -175873 | AdministrativeExpenses |
| End Of Year Balance | 48845386 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 44525330 | BeginningOfYearBalance |
| Contributions | 931246 | Contributions |
| Investment Earnings Or Losses | 6109565 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | -632013 | GrantsOrScholarships |
| Other Expenditures | -1181924 | OtherExpenditures |
| Administrative Expenses | -149443 | AdministrativeExpenses |
| End Of Year Balance | 49602761 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 32871772 | BeginningOfYearBalance |
| Contributions | 3192007 | Contributions |
| Investment Earnings Or Losses | 10543158 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | -1158792 | GrantsOrScholarships |
| Other Expenditures | -753661 | OtherExpenditures |
| Administrative Expenses | -169154 | AdministrativeExpenses |
| End Of Year Balance | 44525330 | EndOfYearBalance |
Current Year Minus4 Years CurrentYearMinus4Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 42289183 | BeginningOfYearBalance |
| Contributions | 2883933 | Contributions |
| Investment Earnings Or Losses | -10351971 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | -662027 | GrantsOrScholarships |
| Other Expenditures | -1144242 | OtherExpenditures |
| Administrative Expenses | -143104 | AdministrativeExpenses |
| End Of Year Balance | 32871772 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 1.00000 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6332048 | OtherCostOrOtherBasis |
| Book Value | 6332048 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 104224973 | OtherCostOrOtherBasis |
| Depreciation | 30700173 | Depreciation |
| Book Value | 73524800 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 18363543 | OtherCostOrOtherBasis |
| Depreciation | 8026554 | Depreciation |
| Book Value | 10336989 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 19874926 | OtherCostOrOtherBasis |
| Depreciation | 5834160 | Depreciation |
| Book Value | 14040766 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 12255252 | OtherCostOrOtherBasis |
| Depreciation | 6779164 | Depreciation |
| Book Value | 5476088 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 109710691 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (11 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| COMMON STOCKS | 20760175 | F |
| DEBT MUTUAL FUNDS | 11074159 | F |
| EQUITY MUTUAL FUNDS | 10639813 | F |
| MORTGAGE/ASSET BACKED SECURITIES | 6181493 | F |
| CORPORATE BONDS | 4351019 | F |
| SHORT TERM INVESTMENTS | 1908080 | F |
| MANAGED FUTURES | 1261852 | F |
| MUNICIPAL BONDS | 1009464 | F |
| US GOVERNMENT NOTES AND BONDS | 743524 | F |
| FEDERAL AGENCY SECURITIES | F | |
| CERTFICATES OF DEPOSIT | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 57929579 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| CAPITAL LEASE OBLIGATIONS | $12,490,266 |
| REFUNDABLE GOVERNMENT LOANS | $4,736,185 |
| ANNUITIES PAYABLE & OTHER LIAB. | $2,123,328 |
| INTEREST RATE SWAP LIABILITY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 19349779 | TotalOfAmounts |
| Tot Revenue Etc Audited Fincl Stmt | 173354668 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 3108310 | NetUnrealizedGainsInvestments |
| Other Revenues | -36024 | OtherRevenues |
| Revenue Not Rptd F990 | 3072286 | RevenueNotRptdF990 |
| Revenue Subtotal | 170282382 | RevenueSubtotal |
| Other Revenues Not Included | 129943124 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 129943124 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 300225506 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 165365543 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 165365543 | ExpensesSubtotal |
| Other Expenses Not Included | 129943124 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 129943124 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 295308667 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| TERMS FOR NOT REPORTING ASSETS PER SFAS 116 | SCHEDULE D, PAGE 1, PART III, LINE 1A | FLORIDA INSTITUTE OF TECHNOLOGY HAS ELECTED TO EXCLUDE THE VALUE OF THE COLLECTIONS FROM THE STATEMENT OF FINANCIAL POSITION. ALSO, GIFTS OF ART OBJECTS ARE EXCLUDED FROM REVENUE IN THE STATEMENT OF ACTIVITIES. GENERALLY, ALL OBJECTS ARE RECEIVED AS A DONATION. |
| COLLECTIONS AND RELATION TO EXEMPT PURPOSE | SCHEDULE D, PAGE 2, PART III, LINE 4 | TIME PERIOD CLOTHING, PIECES OF HAND WOVEN TEXTILES, ORIGINAL COLLAGE ART WORK, POETRY COLLECTION, DISPLAYS OF INTERNATIONAL ART WORK USED TO FURTHER THE UNDERSTANDING OF CULTURAL AND CREATIVE ACHIEVEMENTS. |
| INTENDED USES FOR ENDOWMENT FUNDS | SCHEDULE D, PAGE 2, PART V, LINE 4 | ENDOWMENT 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 2013, THE TRANSFER AMOUNTED TO 2,034,227. |
| REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER | SCHEDULE D, PAGE 4, PART XI, LINE 2D | CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -36,024 |
| REVENUE AMOUNTS INCLUDED ON RETURN - OTHER | SCHEDULE D, PAGE 4, PART XI, LINE 4B | STUDENT FINANCIAL ASSISTANCE 129,943,124 |
| EXPENSE AMOUNTS INCLUDED ON RETURN - OTHER | SCHEDULE D, PAGE 4, PART XII, LINE 4B | STUDENT FINANCIAL ASSISTANCE 129,943,124 |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | true | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | true | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | true | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | true | MaintRacialCompositionRecords |
| Maint Scholarships Records | true | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | true | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | true | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | false | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | false | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | false | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | false | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | false | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | false | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActy |
| Government Financial Aid Received | true | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | false | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | true | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PUBLICATION OF NONDISCRIMINATORY POLICY IN MEDIA EXPLANATION | SCHEDULE E LINE 3 | ALL ADVERTISEMENTS FOR FLORIDA INSTITUTE OF TECHNOLOGY INCLUDE THE NECESSARY INFORMATION REGARDING THE UNIVERSITYS NONDISCRIMINATION POLICY |
| FINANCIAL AID OR GOVERNMENT ASSISTANCE EXPLANATION | SCHEDULE E LINE 6 | THE UNIVERSITY PARTICIPATES IN NUMEROUS FEDERAL AND STATE PROGRAMS AS LISTED BELOW FEDERAL PROGRAMS US DEPARTMENT OF COMMERCE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION NATIONAL DEFENSE UNIVERSITY US DEPARTMENT OF DEFENSE US DEPARTMENT OF ENERGY US DEPARTMENT OF HEALTH AND HUMAN SERVICES US DEPARTMENT OF HOMELAND SECURITY US DEPARTMENT OF EDUCATION US DEPARTMENT OF THE INTERIOR US DEPARTMENT OF LABOR US SMALL BUSINESS ADMINISTRATION NATIONAL SCIENCE FOUNDATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION US FISH AND WILDLIFE SERVICES US ARMY US DEPARTMENT OF JUSTICE UNITED NATIONS COMPREHENSIVE NUCLEARTEST BAN TREATY ORGANIZATION ENVIRONMENTAL PROTECTION AGENCY HARRIS CORPORATION CORPORATION FOR PUBLIC BROADCASTING STATE PROGRAMS STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION FLORIDA DEPARTMENT OF EDUCATION STATE RESEARCH AND DEVELOPMENT CLUSTER FLORIDA DEPARTMENT OF HEALTH FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA DEPARTMENT OF HIGHWAY SAFETY AND MOTOR VEHICLES STUDENT FINANCIAL ASSISTANCE BRIGHT FUTURES |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | false | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (3 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| EAST ASIA | 1 | 4 | PROGRAM SERVICE | STUDENT RECRUITMENT | 48839 |
| SOUTH ASIA | 3 | PROGRAM SERVICE | STUDENT RECRUITMENT | 10500 | |
| NORTH AMERICA | 1 | PROGRAM SERVICE | STUDENT RECRUITMENT | 3000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 1 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 8 | SubtotalNumberOfEmployees |
| Total Number Of Offices | 1 | TotalNumberOfOffices |
| Total Number Of Employees | 8 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 62339 | SubtotalAmountSpent |
| Total Amount Spent | 62339 | TotalAmountSpent |
| Transfer To Foreign Corp | false | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | false | OwnForeignCorp |
| Passive Foreign Invest Co | false | PassiveForeignInvestCo |
| Foreign Partnership | false | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | ACTIVITIES PER REGION | Identifier |
| Return Reference | SCHEDULE F, PAGE 1, PART I, LINE 3 | ReturnReference |
| Explanation | EAST ASIA 48,839 0 SOUTH ASIA 10,500 0 NORTH AMERICA 3,000 0 | Explanation |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Licensed States | FL | LicensedStates |
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | SPORTING AFFAIR | NameOfEvent1 |
| Gross Receipts Event1 | 264669 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 108320 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 156349 | GrossRevenueEvent1 |
| Rent Facility Costs Event1 | 29625 | RentFacilityCostsEvent1 |
| Other Direct Expenses Event1 | 60585 | OtherDirectExpensesEvent1 |
| Name Of Event2 | EVENING OF HOPE | NameOfEvent2 |
| Gross Receipts Event2 | 202230 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 28550 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 173680 | GrossRevenueEvent2 |
| Other Direct Expenses Event2 | 27252 | OtherDirectExpensesEvent2 |
| Total Number Of Other Events | 1 | TotalNumberOfOtherEvents |
| Gross Receipts Other Events | 28843 | GrossReceiptsOtherEvents |
| Charitable Contrib Other Events | 19398 | CharitableContribOtherEvents |
| Gross Revenue Other Events | 9445 | GrossRevenueOtherEvents |
| Other Direct Expenses Other Events | 731 | OtherDirectExpensesOtherEvents |
| Gross Receipts Total | 495742 | GrossReceiptsTotal |
| Charitable Contributions Total | 156268 | CharitableContributionsTotal |
| Gross Revenue Total Events | 339474 | GrossRevenueTotalEvents |
| Rent Facility Costs Total Events | 29625 | RentFacilityCostsTotalEvents |
| Other Direct Expenses Total Events | 88568 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 118193 | DirectExpenseSummaryEvents |
| Net Income Summary | 221281 | NetIncomeSummary |
Gaming Information GamingInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteer Labor Bingo | false | VolunteerLaborBingo |
| Volunteer Labor Pull Tabs | false | VolunteerLaborPullTabs |
| Gross Revenue Other Gaming | 225600 | GrossRevenueOtherGaming |
| Cash Prizes Other Gaming | 75000 | CashPrizesOtherGaming |
| Non Cash Prizes Other Gaming | 8450 | NonCashPrizesOtherGaming |
| Other Direct Expenses Other Gaming | 2359 | OtherDirectExpensesOtherGaming |
| Volunteer Labor Other Gaming | false | VolunteerLaborOtherGaming |
| Gross Revenue Total Gaming | 225600 | GrossRevenueTotalGaming |
| Cash Prizes Total Gaming | 75000 | CashPrizesTotalGaming |
| Non Cash Prizes Total Gaming | 8450 | NonCashPrizesTotalGaming |
| Other Direct Expenses Total Gaming | 2359 | OtherDirectExpensesTotalGaming |
| Direct Expense Summary Gaming | 85809 | DirectExpenseSummaryGaming |
| Net Gaming Income Summary | 139791 | NetGamingIncomeSummary |
| Field | Value | IRS element (for citing) |
|---|---|---|
| States Where Gaming Conducted | FL | StatesWhereGamingConducted |
| Licensed | false | Licensed |
| Explanation If No | SEC. 849.0935 FLORIDA STATUTES (1996 SUPP) AUTHORIZES TAX-EXEMPT | ExplanationIfNo |
| License Suspended Etc | false | LicenseSuspendedEtc |
| Gaming With Nonmembers | false | GamingWithNonmembers |
| Member Of Other Entity | false | MemberOfOtherEntity |
| Percentage Of Gaming Othr Facility | 1.00000 | PercentageOfGamingOthrFacility |
| Name Of Gaming Rec Keeper Person | MATTHEW KILCULLEN | NameOfGamingRecKeeperPerson |
Address Of Gaming Rec Keeper US AddressOfGamingRecKeeperUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 W UNIVERSITY BLVD | AddressLine1 |
| City | MELBOURNE | City |
| State | FL | State |
| ZIP Code | 32901 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contract With3rd Party For Gam Rev | false | ContractWith3rdPartyForGamRev |
| Gaming Manager Name Person | CHRISTIANA GREENE | GamingManagerNamePerson |
| Gaming Manager Compensation | 10270 | GamingManagerCompensation |
| Gaming Manager Services Provided | TRACK/TABULATE RESULTS | GamingManagerServicesProvided |
| Gaming Manager Is Employee | X | GamingManagerIsEmployee |
| Charitable Distrib Required | false | CharitableDistribRequired |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII (16 entries)
| Type Of GrantTypeOfGrant | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant | Amount Of Non Cash AssistanceAmountOfNonCashAssistance | Method Of ValuationMethodOfValuation | Description Of Non Cash AssistanceDescriptionOfNonCashAssistance |
|---|---|---|---|---|---|
| ATHLETICS SCHOLARSHIPS | 477 | 4136485 | |||
| BOOK SCHOLARSHIPS | 51 | 54416 | |||
| ENDOWED SCHOLARSHIPS | 245 | 793919 | |||
| FLORIDA TECH GRANTS | 3494 | 8234098 | |||
| GENERAL SCHOLARSHIPS | 21 | 45810 | |||
| GOVERNMENT LOANS | 13210 | 67553032 | |||
| GOVERNMENT SCHOLARSHIPS | 3769 | 12084696 | |||
| GRADUATE SCHOLARSHIPS | 169 | 708813 | |||
| MERIT SCHOLARSHIPS | 234 | 568573 | |||
| NEED BASED GRANTS | 59 | 179682 | |||
| PRESIDENTIAL SCHOLARSHIPS | 2145 | 23101694 | |||
| ROOM & BOARD SCHOLARSHIPS | 121 | 28780 | OTHER | RESIDENT ASSIST | |
| ROTC SCHOLARSHIPS | 73 | 368019 | |||
| STATE SCHOLARSHIPS | 2141 | 4726157 | |||
| TEACHING SCHOLARSHIPS | 155 | 60932 | |||
| VA SCHOLARSHIPS | 747 | 7298018 |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS INSIDE THE UNITED STATES | Identifier |
| Return Reference | SCHEDULE I, PAGE 1, PART I, LINE 2 | ReturnReference |
| Explanation | A MONTHLY REVIEW IS CONDUCTED TO ASCERTAIN THAT REVENUES HAVE BEEN RECEIVED. THE REVIEW CONSISTS OF CONFIRMATION OF AVAILABILITY OF PROJECT FUNDS, ENSURING THAT COSTS ARE CONSISTENT WITH THE PROJECT SCHEDULE, AND THAT THEY OCCUR BETWEEN THE START AND STOP DATES OF THE PROJECT. WE CREATE REPORTS TO REVIEW EXPENDITURES, BUDGETED LINE ITEMS AND REVENUE TO AVOID OVERSPENDING, SO AS NOT TO CAUSE A DEFICIT AND LIMIT FURTHER SPENDING. WE VERIFY THAT CORRECTIONS HAVE BEEN MADE IN A TIMELY MANNER. WE MAINTAIN A CLEAR AUDIT TRAIL FOR FUTURE USE. WE MONITOR THE FINANCIAL ACTIVITY OF AWARDS FROM THE DAY IT BECOMES ACTIVE UNTIL IT IS TERMINATED. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | X | FirstClassOrCharterTravel |
| Travel For Companions | X | TravelForCompanions |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (18 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Other Compensation Filing OrgOtherCompensationFilingOrg | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg |
|---|---|---|---|---|
| ANTHONY J CATANESE | ||||
| PRESIDENTTRUSTEE | 512500 | 82068 | 29477 | 624045 |
| T DWAYNE MCCAY | ||||
| COOSECRETARY | 299420 | 70702 | 25681 | 395803 |
| ROBERT NIEBUHR | ||||
| SVPCFOTREASURER | 211059 | 5591 | 12503 | 229153 |
| KENNETH STACKPOOLE | ||||
| SVPDEAN | 240220 | 57738 | 26267 | 324225 |
| FREDRIC M HAM | ||||
| DEAN | 256524 | 8081 | 14346 | 278951 |
| WINSTON SCOTT | ||||
| SVP | 231313 | 5170 | 13294 | 249777 |
| FRANK L KINNEY | ||||
| VP | 196419 | 6419 | 22316 | 225154 |
| SHIRLEY BECKER | ||||
| DEAN | 182961 | 8572 | 28156 | 219689 |
| GARY L HAMME | ||||
| ASSOCIATE VP | 179661 | 5664 | 10837 | 196162 |
| SUSAN ST ONGE | ||||
| SVPCDO | 175000 | 1523 | 8379 | 184902 |
| GORDON NELSON | ||||
| VP | 169561 | 1408 | 16530 | 187499 |
| MARY BETH KENKEL | ||||
| DEAN | 171075 | -1131 | 22944 | 192888 |
| DOROTHY ALLEN | ||||
| VP | 133333 | 18524 | 12910 | 164767 |
| THEODORE BAKER | ||||
| PROFESSOR | 194504 | 462 | 1090 | 196056 |
| RICHARD FORD | ||||
| PROFESSOR | 109660 | 73028 | 20000 | 202688 |
| CEM KANER | ||||
| PROFESSOR | 160147 | 20094 | 28464 | 208705 |
| HECTOR GUTIERREZ | ||||
| PROFESSOR | 102109 | 69642 | 32263 | 204014 |
| GEOFFREY SWAIN | ||||
| PROFESSOR | 94151 | 75269 | 8376 | 177796 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | FRINGE OR EXPENSE EXPLANATION | Identifier |
| Return Reference | SCHEDULE J, PAGE 1, PART I, LINE 1A | ReturnReference |
| Explanation | -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. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BREVARD CNTY ED FAC AUTHORITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 596000253 | IssuerEIN |
| Date Issued | 2013-02-01 | DateIssued |
| Issue Price | 35000000 | IssuePrice |
| Description Of Purpose | 25M REFUNDING, 10M CONSTRUCTION | DescriptionOfPurpose |
| Defeased | false | Defeased |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Pool Financing | false | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Amount Retired | 192587 | AmountRetired |
| Total Proceeds | 35000000 | TotalProceeds |
| Capital Expenditures | 5753920 | CapitalExpenditures |
| Amount Unspent | 4541080 | AmountUnspent |
| Year Of Subst Completion | 2013 | YearOfSubstCompletion |
| Current Refunding | true | CurrentRefunding |
| Advance Refunding | false | AdvanceRefunding |
| Final Allocation Made | false | FinalAllocationMade |
| Adequate Books And Recds Maintaind | true | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | false | OwningBondFinancedProperty |
| Any Lease Arrangements | false | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | true | MngmentCntrctBondFinancdPrprty |
| Engage Bond Counsel Contracts | true | EngageBondCounselContracts |
| Any Research Agreements | false | AnyResearchAgreements |
| Bond Iss Meet Prvt Security Pay Test | false | BondIssMeetPrvtSecurityPayTest |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedProp |
| Remedial Action Taken | false | RemedialActionTaken |
| Non Qualified Bond Remed Procdrs | true | NonQualifiedBondRemedProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiled |
| Rebate Not Due Yet | false | RebateNotDueYet |
| Exception To Rebate | false | ExceptionToRebate |
| No Rebate Due | false | NoRebateDue |
| Variable Rate Issue | false | VariableRateIssue |
| Hedge Identified In Books And Recds | false | HedgeIdentifiedInBooksAndRecds |
| Gross Proceeds Invested In GIC | false | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | false | GrossProceedsInvested |
| Written Proc To Monitor Reqs | true | WrittenProcToMonitorReqs |
Form990 Schedule K Part V Form990ScheduleKPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Proc To Undertk Corrective Action | true | ProcToUndertkCorrectiveAction |
Schedule L IRS990ScheduleL
Loan Table LoanTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | EDWARD SCOTT JR | NamePerson |
| Relationship With Organization | TRUSTEE | RelationshipWithOrganization |
| Loan To Organization | X | LoanToOrganization |
| Original Principal | $1,279,969 | OriginalPrincipalAmount |
| Balance Due | 164393 | BalanceDue |
| Default | false | Default |
| Approved By Board | true | ApprovedByBoard |
| Written Agreement | true | WrittenAgreement |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 164393 | TotalBalanceDue |
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | NATHAN M BISK | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | BOARD MEMBER | Relationship |
| Amount Of Transaction | 300000 | AmountOfTransaction |
| Description Of Transaction | LOAN FORGIVENESS | DescriptionOfTransaction |
| Sharing Of Revenues | false | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (11 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| ORGANIZATION'S MISSION | FORM 990 - ORGANIZATION'S MISSION | TO PROVIDE EDUCATION - THE UNIVERSITY PROVIDES EDUCATIONAL SERVICES TO BACHELORS, MASTERS AND DOCTORAL STUDENTS. FLORIDA INSTITUTE OF TECHNOLOGY IS AN INDEPENDENT TECHNOLOGICAL UNIVERSITY THAT PROVIDES QUALITY EDUCATION, FURTHERS KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH, AND SERVES THE DIVERSE NEEDS OF OUR LOCAL, STATE, NATIONAL, AND INTERNATIONAL CONSTITUENCIES. |
| ALL OTHER ACCOMPLISHMENT DESCRIPTION | FORM 990, PAGE 2, PART III, LINE 4D | OTHER PROGRAM SERVICES: SPONSORED RESEARCH AND TRAINING PROGRAM. |
| ADDITIONAL INFORMATION | FORM 990, PART VI | THE UNIVERSITY HAS A LEASE AGREEMENT WITH A BOARD MEMBER FOR 5,000 SQUARE FEET OF STORAGE SPACE AT A BASE RENT OF 6.50 PER SQUARE FOOT PLUS COMMON AREA MAINTENANCE OF 1.98 PER SQUARE FOOT. THIS LEASE WAS ORIGINALLY SIGNED MARCH 25, 2008 AND IS VALID THROUGH MARCH 31, 2015. THE LEASE HAS AN ANNUAL COST OF LIVING INDEX ESCALATOR DETERMINED IN ACCORDANCE WITH THE U.S. DEPARTMENT OF LABOR COST OF LIVING INDEX. TOTAL RENT PAYMENTS TO THE BOARD MEMBER WERE 32,500 FOR THE YEARS ENDED APRIL 30, 2013 AND 2012. ADDITIONAL OFFICE SPACE WAS RENTED FROM THIS BOARD MEMBER DURING THE RENOVATION OF THE KEUPER BUILDING IN 2012. RENT PAYMENTS ASSOCIATED WITH THE ADDITIONAL SPACE WERE 6,000 AND 24,500 FOR EACH OF THE YEARS ENDED APRIL 30, 2013 AND 2012, RESPECTIVELY. A BOARD MEMBER HAS PROVIDED THE UNIVERSITY WITH A REVOLVING LINE OF CREDIT OF 1,500,000 WITH AN INTEREST RATE OF 3%. PRINCIPAL AND INTEREST ARE DUE IN 24 EQUAL MONTHLY INSTALLMENTS WHICH BEGAN TWO YEARS AFTER THE FIRST ADVANCE ON THE NOTE (AUGUST 2011). AS OF APRIL 30, 2013, THE PRINCIPAL BALANCE REMAINING WAS 161,996 AND THE BOARD MEMBER HAS FORGIVEN ALL INTEREST THROUGH DECEMBER 31, 2012. THE UNIVERSITY HAS AN AGREEMENT WITH BISK EDUCATION, INC. ("BISK") TO DEVELOP VARIOUS ONLINE DEGREE PROGRAMS AND TO MARKET AND RECRUIT STUDENTS FOR THOSE PROGRAMS. BISK ADVANCED PROGRAM START-UP COSTS OF 1,528,292 TO THE UNIVERSITY WHICH WILL BE REPAID TO BISK FROM FUTURE REVENUES. HOWEVER, THE UNIVERSITY RECEIVED A PLEDGE FROM A BOARD MEMBER WHO IS THE CHIEF EXECUTIVE OFFICER OF BISK AND THE PRESIDENT OF THE BISK FAMILY FOUNDATION, INC. TO FORGIVE THE START-UP COST LIABILITY OVER A PERIOD OF FIVE YEARS BEGINNING WITH THE YEAR ENDED APRIL 30, 2011. AS OF APRIL 30, 2013, A TOTAL OF 900,000 OF START-UP COSTS HAS BEEN FORGIVEN. |
| RELATED PARTY INFORMATION AMONG OFFICERS | FORM 990, PAGE 6, PART VI, LINE 2 | HARRY BRANDON HARRY BRANDON TRUSTEE LEASING OF PROPERTY |
| ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 | FORM 990, PAGE 6, PART VI, LINE 11B | A SPECIAL MEETING OF THE UNIVERSITY'S AUDIT COMMITTEE IS CONVENED FOR THE PURPOSE OF A REVIEW OF THE FORM 990 RETURN BEFORE THE RETURN IS FILED. EACH MEMBER OF THE AUDIT COMMITTEE RECEIVES A COPY OF THE RETURN TO REVIEW BEFORE THE MEETING. BEFORE EACH MEMBER RECEIVES A COPY, THE FORM 990 IS REVIEWED BY THE CONTROLLER, THE ASSOCIATE VICE PRESIDENT FOR FINANCIAL PLANNING, AND THE SENIOR VICE PRESIDENT FOR FINANCIAL AFFAIRS AND CFO. |
| ENFORCEMENT OF CONFLICTS POLICY | FORM 990, PAGE 6, PART VI, LINE 12C | FLORIDA INSTITUTE OF TECHNOLOGY HAS IN PLACE A "CONFLICT OF INTEREST POLICY." THE POLICY REQUIRES EACH EMPLOYEE TO DISCLOSE ALL ACTIVITIES THAT ADVERSELY INFLUENCE THE EMPLOYEE'S 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 BY THE UNIVERSITY. EACH YEAR A "CONFLICT OF INTEREST" QUESTIONNAIRE IS DISTRIBUTED TO THE EMPLOYEES. AN ANNUAL REPORT IS MAINTAINED DISCLOSING ANY CONFLICTS. |
| COMPENSATION PROCESS FOR TOP OFFICIAL | FORM 990, PAGE 6, PART VI, LINE 15A | THE UNIVERSITY HAS ESTABLISHED A COMPENSATION COMMITTEE THAT 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. |
| COMPENSATION PROCESS FOR OFFICERS | FORM 990, PAGE 6, PART VI, LINE 15B | THE UNIVERSITY HAS ESTABLISHED A COMPENSATION COMMITTEE THAT 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. |
| GOVERNING DOCUMENTS DISCLOSURE EXPLANATION | FORM 990, PAGE 6, PART VI, LINE 19 | THE 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. |
| RECONCILIATION OF CHANGES - OTHER | FORM 990, PART XI, LINE 9 | CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -36,024 STUDENT FINANCIAL ASSISTANCE -129,943,124 STUDENT FINANCIAL ASSISTANCE 129,943,124 |
| OTHER CHANGES IN NET ASSETS EXPLANATION | FORM 990, PART XI, LINE 9 | FIT MUSEUM OF ART, INC. 223,925 REMOVAL OF EQUITY FROM FLORIDA INSTITUTE OF TECHNOLOGY, INC.'S CONSOLIDATED BALANCE SHEET TO BE REPORTED ON FIT MUSEUM OF ART, INC.'S FORM 990 BALANCE SHEET. _________________________________________________________ CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 36,024 FIT MUSEUM OF ART, INC. NET LOSS 223,925 _______ 259,949 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (2 entries)
| Business Name Line2NameOfDisregardedEntity/BusinessNameLine2 | Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|---|
| FIT AVIATION LLC | ||||||||||
| FIT AVIATION LLC | 801 HARRY GOODE WAY | MELBOURNE | FL | 32901 | 593746142 | FLIGHT INS | FL | 9054684 | 4650913 | NA |
| FIT REALTY LLC | ||||||||||
| FIT REALTY LLC | 150 W UNIVERSITY BLVD | MELBOURNE | FL | 32901 | REAL EST | FL | NA | |||
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIT MUSEUM OF ART INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 W UNIVERSITY BLVD | AddressLine1 |
| City | MELBOURNE | City |
| State | FL | State |
| ZIP Code | 32901 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 591804524 | EIN |
| Primary Activities | MUSEUM | PrimaryActivities |
| Legal Domicile State | FL | LegalDomicileState |
| Exempt Code Section | 501 | ExemptCodeSection |
| Public Charity Status | 9 | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | false | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | true | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | false | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | true | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)
| Business Name Line2NameOfOtherOrganization/BusinessNameLine2 | Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|---|
| FIT MUSEUM OF ART INC | |||
| FIT MUSEUM OF ART INC | S | 120356 | COST |
| FIT MUSEUM OF ART INC | |||
| FIT MUSEUM OF ART INC | D | 3397 | COST |