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Nonprofiteer
← FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$49,842,509
Total expenses
$43,134,161
Contributions and grants received
$28,273,812
Grants paid
$38,972,136
Program service revenue
not reported
Investment income
not reported
Other revenue
not reported
Total assets, end of year
not reported
Total liabilities, end of year
not reported
Net assets or fund balances, end of year
not reported
Program services expenses (Part IX)
$39,523,541
Management and general expenses
$2,549,751
Fundraising expenses
$1,060,869
Program service expenses (Part III)
$39,523,541

Program services were 91.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • STACY VOLNICK

    INTERIM FAU PRESIDENT

    Total calculated
    $676,653
    From this org
    $0
    From related orgs
    $576,920
    Other
    $99,733
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $495,920 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $6,000 related
    Deferred
    $0 + $90,529 related
    Nontaxable benefits
    $0 + $9,204 related
    Filer's total
    $0 + $676,653 related

  • CHARLES CARTWRIGHT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • PHYLLIS GLADSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NOEL GONZALEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DANIEL JOSEPH

    AUDIT COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • PAUL KILGALLON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • STEWART MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL L MILLER

    TREASURER & FINANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • PETER MOORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • PAMELA RONDI NOEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BRIAN POULIN

    EXECUTIVE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • SALLY ROWLEY-WILLIAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KEITH SANDERS

    NOMINATING & GOV. COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • STEVEN SCHMIDT

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • RICHARD STONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • IAN SWARTZ

    DIRECTOR, AS OF 11/14/23

    Total calculated
    $0
    Hours/week
    0.5

  • RAUL VALERO

    PHILANTHROPY COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • ED VENTRICE

    INVESTMENT COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • CHERYL WILKE

    VICE CHAIR & SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM E MORRIS

    LTD. PURPOSE DIRECTOR & RE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL YOON

    LIMITED PURPOSE DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • EARNIE ELLISON

    FAU BOT REPRESENTATIVE, AS OF 3/2024

    Total calculated
    $0
    Hours/week
    0.5

  • BARBARA FEINGOLD

    FAU BOT REPRESENTATIVE, UNTIL 2/2024

    Total calculated
    $0
    Hours/week
    0.5

  • DAVID KIAN

    INTERIM CEO

    Total calculated
    $489,351
    From this org
    $0
    From related orgs
    $434,678
    Other
    $54,673
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $376,016 related
    Bonus
    $0 + $9,750 related
    Other
    $0 + $48,912 related
    Deferred
    $0 + $32,926 related
    Nontaxable benefits
    $0 + $21,747 related
    Filer's total
    $0 + $489,351 related

  • MICHELLE DEPALMA

    CFO

    Total calculated
    $237,905
    From this org
    $0
    From related orgs
    $197,813
    Other
    $40,092
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $192,383 related
    Bonus
    $0 + $4,940 related
    Other
    $0 + $490 related
    Deferred
    $0 + $18,585 related
    Nontaxable benefits
    $0 + $21,507 related
    Filer's total
    $0 + $237,905 related

  • JOHN KELLY

    FORMER FAU PRESIDENT

    Total calculated
    $587,594
    From this org
    $0
    From related orgs
    $539,081
    Other
    $48,513
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $539,081 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,577 related
    Nontaxable benefits
    $0 + $19,936 related
    Filer's total
    $0 + $587,594 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES AND DOES NOT PROVIDE ANY OFFICER, DIRECTOR, OR OTHER REPRESENTATIVE WITH ANY COMPENSATION. MEMBERS ARE COMPENSATED THROUGH FLORIDA ATLANTIC UNIVERSITY, A RELATED ORGANIZATION, WHERE THERE IS REVIEW AND APPROVAL BY THE BOARD OF TRUSTEES. A UNIVERSITY REPRESENTATIVE DETERMINES THE FAIR COMPENSATION BY POLLING PEER INSTITUTIONS IN THE STATE ON THE MARKET RATE FOR THIS POSITION. THIS MEASURE OBTAINS THE SAME RESULT AS COMPARING THESE INSTITUTION'S FORM 990. ADDITIONALLY, WRITTEN EMPLOYMENT CONTRACTS, ARE ALSO USED IN ESTABLISHING THE CEO'S COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 April 2025
IRS schema version
2023v6.0
Source object
202511259349301766

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