Embry-Riddle Aeronautical University Asia Ltd
- Assets
- $1.8m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Daytona Beach, FL
- Founding
- 07/2013
- Data as of
- 06/2022
- EIN
- 98-0681431
Organization Overview
Embry-Riddle Aeronautical University Asia Ltd is located in Daytona Beach, FL. The organization was established in 2013. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Embry-Riddle Aeronautical University Asia Ltd 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 University Asia Ltd generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $3.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
ERAU ASIA OFFERS PART-TIME AND FULL-TIME UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS TO PRE-EMPLOYMENT AND WORKING PROFESSIONAL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Watret Chairperson | OfficerTrustee | 5 | $0 |
Charles Sevastos Secretary | OfficerTrustee | 3 | $0 |
Randall B Howard Board Member | OfficerTrustee | 3 | $0 |
Quay Chew Eng Board Member | Trustee | 3 | $0 |
Matthew Flaherty Vice Chancellor And Exec Dir | OfficerTrustee | 50 | $231,721 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,052 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,052 |
| Total Program Service Revenue | $3,509,969 |
| Investment income | $25 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,560,046 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $306,416 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $228,910 |
| Compensation of current officers, directors, key employees. | $224,129 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $987,838 |
| Pension plan accruals and contributions | $137,898 |
| Other employee benefits | $24,935 |
| Payroll taxes | $1,456 |
| Fees for services: Management | $2,582 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $221,187 |
| Advertising and promotion | $125,169 |
| Office expenses | $67,816 |
| Information technology | $34,273 |
| Royalties | $0 |
| Occupancy | $7,056 |
| Travel | $10,414 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,401 |
| Interest | $1,461 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $193,698 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,332,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $693,222 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $908,709 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,472 |
| Net Land, buildings, and equipment | $34,082 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $153,046 |
| Total assets | $1,824,531 |
| Accounts payable and accrued expenses | $411,240 |
| Grants payable | $0 |
| Deferred revenue | $689,696 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $168,773 |
| Total liabilities | $1,269,709 |
| Net assets without donor restrictions | $554,822 |
| Net assets with donor restrictions | $0 |
| 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 | $1,824,531 |