Embry-Riddle Aeronautical
- Assets
- $1.3b
- Revenue
- $704.9m
- Investments
- $33.8m
- Employees
- 7,270
- Location
- Daytona Beach, FL
- Founding
- 07/1993
- Data as of
- 06/2022
- EIN
- 59-0936101
Organization Overview
Embry-Riddle Aeronautical is located in Daytona Beach, FL. The organization was established in 1993. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Embry-Riddle Aeronautical employed 7,270 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Embry-Riddle Aeronautical is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Embry-Riddle Aeronautical generated $704.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $573.0m during the year ending 06/2022. While expenses have increased by 4.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Embry-Riddle Aeronautical has awarded 25 individual grants totaling $1,461,456. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. (UNIVERSITY OR EMBRY-RIDDLE) IS A PRIVATE, CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING. EMBRY-RIDDLE IS THE LARGEST AND OLDEST AVIATION AND AEROSPACE-FOCUSED UNIVERSITY IN THE WORLD. THE UNIVERSITY HAS EVOLVED WITH INDUSTRY TOSERVE THE EVER-CHANGING NEEDS OF AVIATION AND AEROSPACE AND OTHER STEM-RELATED DISCIPLINES. EMBRY-RIDDLE OFFERS PROGRAMS IN SEVEN PRIMARY FIELDS OF STUDY INCLUDING APPLIED SCIENCE, AVIATION, BUSINESS, COMPUTERS AND TECHNOLOGY, ENGINEERING, SAFETY, SECURITY ANDINTELLIGENCE AND SPACE. EMBRY-RIDDLE, THROUGH ITS ACADEMIC PROGRAMS, CONTINUING EDUCATION, AND APPLIED RESEARCH, BENEFITS THE GLOBAL AEROSPACE AND AVIATION INFRASTRUCTURE. THE UNIVERSITY'S EFFORTS SUPPORT THE GROWTH AND TECHNOLOGICAL ADVANCEMENTS ENCOMPASSING THE ENTIRE AVIATION AND AEROSPACE INDUSTRY; THE CONTRIBUTIONS OF EMBRY-RIDDLE STUDENTS, FACULTY AND STAFF TRANSCEND FAR BEYOND THE "STUDENT BODY".
Describe the Organization's Program Activity:
EMBRY-RIDDLE IS THE WORLD'S OLDEST AND LARGEST INSTITUTION OF HIGHER EDUCATION FOCUSED ON AVIATION AND AEROSPACE. ITS INNOVATIVE AND AWARD WINNING PROGRAMS LEAD TO ASSOCIATE, BACHELOR'S, MASTER'S AND DOCTORAL DEGREES, AND PROFESSIONAL EDUCATION (SEMINARS AND SHORT COURSES) TO PART-TIME AND FULL-TIME STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morteza Hosseini Board Member - Chair | Trustee | 5 | $0 |
James Henderson Board Member - Vice Chair | Trustee | 5 | $0 |
Joseph Martin Board Member - Treasurer | Trustee | 3 | $0 |
Zane Rowe Board Member - Secretary | Trustee | 3 | $0 |
Michael Amalfitano Board Member | Trustee | 2 | $0 |
John Amore Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perry Mccall Construction Inc Construction Services | 6/29/22 | $25,169,335 |
Wff Facility Services Facility Services | 6/29/22 | $2,087,164 |
Oracle America Inc Support Services | 6/29/22 | $1,176,778 |
Eab Global Inc Marketing Services | 6/29/22 | $936,749 |
Workday Inc Consulting Services | 6/29/22 | $1,329,811 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $139,955 |
| Related organizations | $0 |
| Government grants | $59,600,826 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,496,229 |
| Noncash contributions included in lines 1a–1f | $6,488,911 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,237,010 |
| Total Program Service Revenue | $596,750,358 |
| Investment income | $12,059,566 |
| Tax Exempt Bond Proceeds | $12,077 |
| Royalties | $0 |
| Net Rental Income | $473,130 |
| Net Gain/Loss on Asset Sales | $2,372,900 |
| Net Income from Fundraising Events | $18,842 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,775 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $704,944,658 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $82,956 |
| Grants and other assistance to domestic individuals. | $151,573,518 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,459,083 |
| Compensation of current officers, directors, key employees. | $3,871,310 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $201,696,046 |
| Pension plan accruals and contributions | $15,959,794 |
| Other employee benefits | $28,584,206 |
| Payroll taxes | $14,852,634 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $461,109 |
| Fees for services: Accounting | $348,230 |
| Fees for services: Lobbying | $230,270 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,786,085 |
| Fees for services: Other | $23,356,177 |
| Advertising and promotion | $3,489,519 |
| Office expenses | $10,644,936 |
| Information technology | $4,333,195 |
| Royalties | $0 |
| Occupancy | $13,486,090 |
| Travel | $6,164,784 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,734,289 |
| Interest | $9,748,720 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,220,282 |
| Insurance | $6,534,993 |
| All other expenses | $2,691,472 |
| Total functional expenses | $573,049,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,091,306 |
| Savings and temporary cash investments | $377,409,068 |
| Pledges and grants receivable | $25,386,362 |
| Accounts receivable, net | $21,453,924 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,199,954 |
| Inventories for sale or use | $4,894,991 |
| Prepaid expenses and deferred charges | $14,128,841 |
| Net Land, buildings, and equipment | $586,548,062 |
| Investments—publicly traded securities | $205,085,121 |
| Investments—other securities | $33,775,156 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,782,560 |
| Total assets | $1,324,755,345 |
| Accounts payable and accrued expenses | $46,287,248 |
| Grants payable | $0 |
| Deferred revenue | $30,184,134 |
| Tax-exempt bond liabilities | $255,524,175 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $65,601,778 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,083,506 |
| Total liabilities | $443,680,841 |
| Net assets without donor restrictions | $767,590,303 |
| Net assets with donor restrictions | $113,484,201 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,324,755,345 |
Grants Awarded
Over the last fiscal year, Embry-Riddle Aeronautical has awarded $82,956 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MUSEUM OF ARTS AND SCIENCES INC PURPOSE: EXHIBIT SPONSORSHIP | $10,000 |
HALIFAX HEALTH FOUNDATION PURPOSE: EVENT SPONSORSHIPS | $7,000 |
EXPERIMENTAL AIRCRAFT ASSOCIATION INC PURPOSE: NATIONAL CONVENTION SPONSORSHIP | $65,956 |