Embry-Riddle Aeronautical
- Assets
- $1.3b
- Revenue
- $616.3m
- Investments
- $20.6m
- Employees
- 6,927
- Location
- Daytona Beach, FL
- Founding
- 07/1993
- Data as of
- 06/2021
- 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 06/2021, Embry-Riddle Aeronautical employed 6,927 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 06/2021, Embry-Riddle Aeronautical generated $616.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $518.2m during the year ending 06/2021. While expenses have increased by 3.9% per year over the past 6 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 28 individual grants totaling $1,516,000. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. (ERAU) IS A PRIVATE CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING. ERAU HAS LONG BEEN THE ESTABLISHED LEADER IN AERONAUTICS AND AEROSPACE EDUCATION, AND ERAU'S AVIATION BACKGROUND HAS EXPANDED OVER THE YEARS TO INCLUDE SEVEN PRIMARY FIELDS OF STUDY: APPLIED SCIENCE, AVIATION, BUSINESS, COMPUTERS AND TECHNOLOGY, ENGINEERING, SPACE, AND SAFETY, SECURITY AND INTELLIGENCE.
Describe the Organization's Program Activity:
ERAU PROVIDES COMPREHENSIVE EDUCATION LEADING TO ASSOCIATE, BACHELOR, MASTER AND DOCTORAL DEGREES, SEMINARS, SHORT COURSES AND RESEARCH ACTIVITY TO PART-TIME AND FULL-TIME STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
P Barry Butler President | Officer | 50 | $784,279 |
Randall Howard Svp, CFO | Officer | 50 | $495,728 |
Steven Ridder Head Basketball Coach Db | 40 | $453,854 | |
John Watret Chancellor, Worldwide Campus | Officer | 45 | $443,275 |
Rodney Cruise SVP Administration & COO | Officer | 40 | $385,136 |
Lon Moeller SVP Academic Affairs Provost | Officer | 40 | $359,272 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perry Mccall Construction Inc Construction Services | 6/29/21 | $33,214,173 |
Collaborative Solutions Consulting | 6/29/21 | $2,162,188 |
Coleman Goodemote Construction Inc Construction Services | 6/29/21 | $2,091,029 |
Wff Facility Services Facility Services | 6/29/21 | $2,056,900 |
Eab Global Inc Marketing Recruit | 6/29/21 | $1,848,643 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $105,715 |
| Related organizations | $0 |
| Government grants | $45,293,323 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,096,260 |
| Noncash contributions included in lines 1a–1f | $314,921 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,495,298 |
| Total Program Service Revenue | $555,043,432 |
| Investment income | $5,824,000 |
| Tax Exempt Bond Proceeds | $8,499 |
| Royalties | $0 |
| Net Rental Income | $379,751 |
| Net Gain/Loss on Asset Sales | $3,547,123 |
| Net Income from Fundraising Events | $13,027 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,355 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $616,318,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $111,000 |
| Grants and other assistance to domestic individuals. | $128,234,091 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,746,421 |
| Compensation of current officers, directors, key employees. | $4,746,421 |
| Compensation to disqualified persons | $150,727 |
| Other salaries and wages | $193,093,184 |
| Pension plan accruals and contributions | $14,790,346 |
| Other employee benefits | $28,673,807 |
| Payroll taxes | $14,519,307 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $803,294 |
| Fees for services: Accounting | $481,858 |
| Fees for services: Lobbying | $286,090 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,331,219 |
| Fees for services: Other | $18,082,690 |
| Advertising and promotion | $2,869,846 |
| Office expenses | $11,039,733 |
| Information technology | $3,488,737 |
| Royalties | $0 |
| Occupancy | $13,466,096 |
| Travel | $1,327,503 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,447,552 |
| Interest | $8,100,621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,183,356 |
| Insurance | $5,540,403 |
| All other expenses | $1,282,803 |
| Total functional expenses | $518,217,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,825,834 |
| Savings and temporary cash investments | $327,598,570 |
| Pledges and grants receivable | $5,412,792 |
| Accounts receivable, net | $26,492,030 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,205,666 |
| Inventories for sale or use | $3,884,379 |
| Prepaid expenses and deferred charges | $10,394,560 |
| Net Land, buildings, and equipment | $554,876,491 |
| Investments—publicly traded securities | $253,888,658 |
| Investments—other securities | $20,624,699 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,067,506 |
| Total assets | $1,265,271,185 |
| Accounts payable and accrued expenses | $54,911,507 |
| Grants payable | $0 |
| Deferred revenue | $28,249,860 |
| Tax-exempt bond liabilities | $263,730,168 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $74,088,490 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,324,832 |
| Total liabilities | $466,304,857 |
| Net assets without donor restrictions | $703,500,744 |
| Net assets with donor restrictions | $95,465,584 |
| 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 | $1,265,271,185 |
Grants Awarded
Over the last fiscal year, Embry-Riddle Aeronautical has awarded $111,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Oshkosh, WI PURPOSE: NATIONAL CONVENTION SPONSORSHIP | $57,500 |
Oshkosh, WI PURPOSE: EDUCATIONAL AND SCIENTIFIC PURPOSES | $13,500 |
Orlando, FL PURPOSE: EVENT SPONSORSHIP | $10,000 |
SWALLY INC PURPOSE: COMPETITION PRIZE SPONSORSHIP | $10,000 |
Daytona Beach, FL PURPOSE: EXHIBIT SPONSORSHIP | $10,000 |
NOVAPPROACH SPINE LLC PURPOSE: COMPETITION PRIZE SPONSORSHIP | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Embry-Riddle Aeronautical has recieved totaling $2,350.
| Awarding Organization | Amount |
|---|---|
Perryman Family Foundation Ormond Beach, FL PURPOSE: ATHLETICS FUND | $2,350 |
Endowment Analysis
| Beg. Balance | $172,374,000 |
| Earnings | $56,358,000 |
| Net Contributions | $20,075,000 |
| Grants | $5,987,000 |
| Ending Balance | $242,820,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nova Southeastern University Inc Fort Lauderdale, FL | $1,812,347,063 | $836,787,691 |
Emory University Decatur, GA | $308,834,835 | $526,678,235 |
Embry-Riddle Aeronautical Daytona Beach, FL | $1,265,271,185 | $616,318,485 |
Savannah College Of Art And Design Inc Savannah, GA | $1,297,162,714 | $587,003,201 |
The Corporation Of Mercer University Macon, GA | $975,470,567 | $444,048,225 |
University Of Tampa Tampa, FL | $995,322,258 | $426,783,303 |
Stetson University Inc DeLand, FL | $684,046,890 | $288,494,091 |
Samford University Birmingham, AL | $801,305,714 | $280,325,292 |
Barry University Inc Miami Shores, FL | $233,517,210 | $207,474,088 |
Saint Leo University Inc Saint Leo, FL | $243,651,425 | $167,609,731 |
Florida Institute Of Technology Inc Melbourne, FL | $380,099,144 | $191,425,099 |
Jacksonville University Jacksonville, FL | $361,875,229 | $172,045,418 |