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← EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD

Form 990 for tax year 2023

Filed by EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD.

Totals

Total revenue
$1,816,366
Total expenses
$1,719,212
Contributions and grants received
$7,051
Grants paid
$68,300
Program service revenue
$1,813,561
Investment income
-$4,246
Other revenue
$0
Total assets, end of year
$1,603,469
Total liabilities, end of year
$740,638
Net assets or fund balances, end of year
$862,831
Program services expenses (Part IX)
$1,241,834
Management and general expenses
$477,378
Fundraising expenses
$0
Program service expenses (Part III)
$1,241,834

Program services were 72.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CHARLES SEVASTOS

    SECRETARY

    Total calculated
    $338,585
    From this org
    $0
    From related orgs
    $300,459
    Other
    $38,126
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,884 related
    Bonus
    $0 + $20,730 related
    Other
    $0 + $1,845 related
    Deferred
    $0 + $30,373 related
    Nontaxable benefits
    $0 + $7,753 related
    Filer's total
    $0 + $338,585 related

  • JOHN WATRET

    CHAIRPERSON

    Total calculated
    $552,425
    From this org
    $0
    From related orgs
    $508,633
    Other
    $43,792
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $429,806 related
    Bonus
    $0 + $75,730 related
    Other
    $0 + $3,097 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $10,792 related
    Filer's total
    $0 + $552,425 related

  • MATTHEW FLAHERTY

    VICE CHANCELLOR AND HEAD OF ASIA

    Total calculated
    $252,944
    From this org
    $60,913
    From related orgs
    $182,740
    Other
    $9,291
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $50,510 + $151,533 related
    Bonus
    $182 + $544 related
    Other
    $10,221 + $30,663 related
    Deferred
    $0
    Nontaxable benefits
    $2,323 + $6,968 related
    Filer's total
    $63,236 + $189,708 related

  • RANDALL B HOWARD

    BOARD MEMBER

    Total calculated
    $668,649
    From this org
    $0
    From related orgs
    $623,500
    Other
    $45,149
    Hours/week
    3 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $520,319 related
    Bonus
    $0 + $100,730 related
    Other
    $0 + $2,451 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $12,149 related
    Filer's total
    $0 + $668,649 related

  • LAURENCE CHIN

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    3

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

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel
THE UNIVERSITY'S TRAVEL POLICY PROVIDES THE SPECIFIC CONDITIONS FOR WHICH FIRST-CLASS TRAVEL IS ALLOWABLE IF PREAPPROVED BY THE EMPLOYEE'S SENIOR LEADERSHIP AND THE SENIOR VICE PRESIDENT AND CFO OR UNIVERSITY PRESIDENT (E.G. : TRAVEL INVOLVING FLIGHT SEGMENTS OVER SIX HOURS, RED-EYE FLIGHTS THAT SAVE LODGING EXPENSE, CASES WHERE THE TRAVELER HAS A DOCUMENTED PHYSICAL DISABILITY OR LIMITATION, ETC).
Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
USE OF RELATED ORGANIZATION IN DETERMINING COMPENSATION APPROVAL AND COMPENSATION OF ALL EMPLOYEES IS MADE IN CONSULTATION WITH APPROPRIATE PERSONNEL AT EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. SPECIFIC LEVELS OF COMPENSATION ARE DETERMINED BY COMPARING THE COMPENSATION FOR SIMILAR POSITIONS.
Schedule J, Part I, Line 7 Non-fixed payments
SELECT PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1, RECEIVED AN ADDITIONAL PERFORMANCE BASED BONUS. ADDITIONALLY, ALL REFERENCED EMPLOYEES RECEIVE A HOLIDAY BONUS IN THE SAME AMOUNT THAT ALL UNIVERSITY EMPLOYEES RECEIVE.

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

No itemized grants to organizations 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.

  • EMBRY-RIDDLE AERONAUTICAL UNIV INC

    501(c)(3) · HIGHER EDUCATION · FL

    Directly controlled by NA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ERAU ASIA INSTITUTE LTD

    C Corporation · HIGHER EDUCATION · SN · 100% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by ERAU ASIA

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202511349349305871

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