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← EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD

Form 990 for tax year 2022

Filed by EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD.

Totals

Total revenue
$3,321,453
Total expenses
$3,098,880
Contributions and grants received
$8,701
Grants paid
$158,067
Program service revenue
$3,311,606
Investment income
$1,146
Other revenue
$0
Total assets, end of year
$1,751,900
Total liabilities, end of year
$983,705
Net assets or fund balances, end of year
$768,195
Program services expenses (Part IX)
$1,840,854
Management and general expenses
$1,258,026
Fundraising expenses
$0
Program service expenses (Part III)
$1,840,854

Program services were 59.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JOHN WATRET

    CHAIRPERSON

    Total calculated
    $526,902
    From this org
    $0
    From related orgs
    $481,320
    Other
    $45,582
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $402,707 related
    Bonus
    $0 + $75,730 related
    Other
    $0 + $2,883 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $15,082 related
    Filer's total
    $0 + $526,902 related

  • CHARLES SEVASTOS

    SECRETARY

    Total calculated
    $325,006
    From this org
    $0
    From related orgs
    $288,418
    Other
    $36,588
    Hours/week
    3 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,934 related
    Bonus
    $0 + $20,730 related
    Other
    $0 + $1,754 related
    Deferred
    $0 + $29,156 related
    Nontaxable benefits
    $0 + $7,432 related
    Filer's total
    $0 + $325,006 related

  • RANDALL B HOWARD

    BOARD MEMBER

    Total calculated
    $620,343
    From this org
    $0
    From related orgs
    $573,724
    Other
    $46,619
    Hours/week
    3 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $470,791 related
    Bonus
    $0 + $100,730 related
    Other
    $0 + $2,203 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $16,119 related
    Filer's total
    $0 + $620,343 related

  • QUAY CHEW ENG

    BOARD MEMBER (UNTIL 04/01/2023)

    Total calculated
    $0
    Hours/week
    3

  • MATTHEW FLAHERTY

    VICE CHANCELLOR AND EXEC DIR

    Total calculated
    $243,110
    From this org
    $176,003
    From related orgs
    $58,668
    Other
    $8,439
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,138 + $47,046 related
    Bonus
    $543 + $181 related
    Other
    $34,322 + $11,441 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $8,439 related
    Filer's total
    $176,003 + $67,107 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

  • 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:
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:
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.

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 · HIGHER EDUCATION · SN · 100% owned · controlled entity

    Directly controlled by ERAU ASIA

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349306392

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