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Nonprofiteer
← EVERGLADES COLLEGE INC

Form 990 for tax year 2023

Filed by EVERGLADES COLLEGE INC.

Totals

Total revenue
$629,354,217
Total expenses
$606,106,831
Contributions and grants received
$12,939,175
Grants paid
$96,070,371
Program service revenue
$603,535,067
Investment income
$3,468,141
Other revenue
$9,411,834
Total assets, end of year
$966,250,979
Total liabilities, end of year
$447,863,656
Net assets or fund balances, end of year
$518,387,323
Program services expenses (Part IX)
$606,106,831
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$606,106,831

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $12,231,537

  • 1f · All other contributions, gifts and grants

    $707,638

  • 2a · Program service revenue: TUITION AND FEES

    total $540,271,679 · related or exempt $540,271,679

  • 2b · Program service revenue: EDUCATIONAL ACTIVITIES

    total $50,522,869 · related or exempt $50,522,869

  • 2c · Program service revenue: ROOM AND BOARD

    total $8,667,298 · related or exempt $8,667,298

  • 2d · Program service revenue: AUXILLIARY ACTIVITIES

    total $4,073,221 · related or exempt $4,073,221

  • 3 · Investment income

    total $3,468,141 · excluded $3,468,141

  • 6a · Gross rents

    real property $8,903,800

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $8,903,800

  • 6d · Net rental income or loss

    total $8,903,800 · excluded $8,903,800

  • 11a · Other revenue: MISCELLANEOUS

    total $358,034 · related or exempt $358,034

  • 11b · Other revenue: CONSULTING

    total $150,000 · unrelated business $150,000

  • 11e · Other revenue, total

    $508,034

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $81,292,892 · program services $81,292,892

  • 3 · Grants to foreign organizations and individuals

    total $14,777,479 · program services $14,777,479

  • 5 · Compensation of officers, directors and key employees

    total $4,666,901 · program services $4,666,901

  • 7 · Other salaries and wages

    total $190,932,056 · program services $190,932,056

  • 8 · Pension plan contributions

    total $4,127,831 · program services $4,127,831

  • 9 · Other employee benefits

    total $21,098,045 · program services $21,098,045

  • 10 · Payroll taxes

    total $15,504,064 · program services $15,504,064

  • 11b · Fees: legal

    total $2,268,828 · program services $2,268,828

  • 11c · Fees: accounting

    total $656,729 · program services $656,729

  • 11d · Fees: lobbying

    total $237,235 · program services $237,235

  • 11f · Fees: investment management

    total $1,722,742 · program services $1,722,742

  • 12 · Advertising and promotion

    total $78,502,373 · program services $78,502,373

  • 13 · Office expenses

    total $4,210,688 · program services $4,210,688

  • 14 · Information technology

    total $8,177,606 · program services $8,177,606

  • 16 · Occupancy

    total $38,289,755 · program services $38,289,755

  • 17 · Travel

    total $3,468,568 · program services $3,468,568

  • 19 · Conferences, conventions and meetings

    total $225,766 · program services $225,766

  • 20 · Interest

    total $12,051,886 · program services $12,051,886

  • 22 · Depreciation, depletion and amortization

    total $15,730,941 · program services $15,730,941

  • 23 · Insurance

    total $7,769,329 · program services $7,769,329

  • 24a · Other expenses: BAD DEBTS

    total $14,055,181 · program services $14,055,181

  • 24b · Other expenses: BRAND MANAGEMENT

    total $12,962,870 · program services $12,962,870

  • 24c · Other expenses: OTHER PROFESSIONAL FEES

    total $12,566,235 · program services $12,566,235

  • 24d · Other expenses: SOCIAL MEDIA

    total $9,118,102 · program services $9,118,102

  • 24e · All other expenses

    total $51,692,729 · program services $51,692,729

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,182,779 · end of year $70,684,627

  • 2 · Savings and temporary cash investments

    beginning of year $72,641,053 · end of year $77,507,709

  • 4 · Accounts receivable

    beginning of year $27,646,068 · end of year $29,506,815

  • 5 · Loans and receivables from officers and key people

    beginning of year $430,682 · end of year $59,683

  • 7 · Other notes and loans receivable

    beginning of year $75,161,911 · end of year $74,539,149

  • 8 · Inventories for sale or use

    beginning of year $62,801 · end of year $82,245

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,578,704 · end of year $9,638,716

  • 10a · Land, buildings and equipment: cost or other basis

    $413,665,876

  • 10b · Land, buildings and equipment: accumulated depreciation

    $70,377,427

  • 10c · Land, buildings and equipment, net

    beginning of year $173,104,391 · end of year $343,288,449

  • 11 · Investments: publicly traded securities

    beginning of year $53,310,911 · end of year $49,615,673

  • 14 · Intangible assets

    beginning of year $236,269,507 · end of year $236,269,507

  • 15 · Other assets

    beginning of year $237,030,871 · end of year $75,058,406

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,646,081 · end of year $56,298,330

  • 19 · Deferred revenue

    beginning of year $56,353,929 · end of year $100,830,286

  • 22 · Loans and payables to officers and key people

    beginning of year $77,977 · end of year $117,173

  • 23 · Secured mortgages and notes payable

    beginning of year $76,611,185 · end of year $225,234,849

  • 25 · Other liabilities

    beginning of year $235,171,582 · end of year $65,383,018

  • 27 · Net assets without donor restrictions

    beginning of year $493,237,924 · end of year $516,668,323

  • 28 · Net assets with donor restrictions

    beginning of year $1,321,000 · end of year $1,719,000

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

KEISER UNIVERSITY AND EVERGLADES UNIVERSITY ARE REGIONALLY ACCREDITED PRIVATE CAREER UNIVERSITIES THAT PROVIDE EDUCATIONAL PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVELS FOR A DIVERSE STUDENT BODY IN TRADITIONAL, NONTRADITIONAL AND ONLINE DELIVERY FORMATS. THE MAIN CAMPUS IS LOCATED IN FORT LAUDERDALE, WITH CAMPUSES LOCATED THROUGHOUT THE STATE OF FLORIDA AND INTERNATIONALLY. THROUGH QUALITY TEACHING, LEARNING AND RESEARCH, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLSNECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO A "STUDENTS FIRST" PHILOSOPHY, KEISER UNIVERSITY PREPARES GRADUATES FOR CAREERS IN BUSINESS, CRIMINAL JUSTICE, HEALTH CARE, TECHNOLOGY, HOSPITALITY, EDUCATION AND CAREER-FOCUSED STUDIES.

  • KEISER UNIVERSITY AND EVERGLADES UNIVERSITY PROVIDE EDUCATIONAL PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVELS FOR A DIVERSE STUDENT BODY IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THIS ACTIVITY CONSTITUTES 100% OF ITS PROGRAM SERVICES.

    Expenses $606,106,831 · Grants $96,070,371 · Revenue $603,893,101

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Maria Kondracki

    TRUSTEE

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Gregg Wallick

    CHAIRMAN /PRESIDENT

    Total calculated
    $1,000
    From this org
    $1,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Joshua Fordin

    TRUSTEE

    Total calculated
    $1,000
    From this org
    $1,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Howard Talenfeld

    TRUSTEE

    Total calculated
    $0
    Hours/week
    7

  • Michael Viola

    TRUSTEE

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Manuel Mair

    TRUSTEE

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Jose Cortes

    TRUSTEE

    Total calculated
    $1,000
    From this org
    $1,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Wanda Gozdz

    TRUSTEE

    Total calculated
    $1,000
    From this org
    $1,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Thomas Foster

    TRUSTEE

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Nicole Heran

    TRUSTEE

    Total calculated
    $1,000
    From this org
    $1,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • James Hutton Former Trustee

    TRUSTEE

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Frank Frione

    TRUSTEE

    Total calculated
    $0
    Hours/week
    7

  • Arthur Keiser

    VP/CHANCELLOR

    Total calculated
    $896,353
    From this org
    $873,550
    From related orgs
    $0
    Other
    $22,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $873,550
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $11,203
    Filer's total
    $896,353

  • Peter Crocitto

    VP/SECRETARY/COO

    Total calculated
    $822,206
    From this org
    $785,398
    From related orgs
    $0
    Other
    $36,808
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $785,398
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $25,208
    Filer's total
    $822,206

  • Christopher Valleau

    TREASURER/VICE CHANCELL

    Total calculated
    $248,565
    From this org
    $227,391
    From related orgs
    $0
    Other
    $21,174
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,391
    Bonus
    $0
    Other
    $0
    Deferred
    $9,091
    Nontaxable benefits
    $12,083
    Filer's total
    $248,565

  • Joseph Berardinelli

    FORMER TREASURER/SR VICE CHANCELL

    Total calculated
    $334,256
    From this org
    $317,135
    From related orgs
    $0
    Other
    $17,121
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $317,135
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $5,521
    Filer's total
    $334,256

  • Kristi Mollis

    UNIVERSITY PRESIDENT

    Total calculated
    $560,456
    From this org
    $536,884
    From related orgs
    $0
    Other
    $23,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $536,884
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $11,972
    Filer's total
    $560,456

  • James Waldman

    GENERAL COUNSEL

    Total calculated
    $497,364
    From this org
    $470,660
    From related orgs
    $0
    Other
    $26,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $470,660
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $15,104
    Filer's total
    $497,364

  • Teri Scheff-Del Vecchio

    VICE CHANCELLOR OF ENROLLM

    Total calculated
    $400,182
    From this org
    $376,610
    From related orgs
    $0
    Other
    $23,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $376,610
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $11,972
    Filer's total
    $400,182

  • Lynda Waterhouse

    CAMPUS PRESIDENT

    Total calculated
    $392,939
    From this org
    $366,433
    From related orgs
    $0
    Other
    $26,506
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $366,433
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $14,906
    Filer's total
    $392,939

  • Garrett Vonk

    CAMPUS PRESIDENT

    Total calculated
    $389,248
    From this org
    $366,445
    From related orgs
    $0
    Other
    $22,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $366,445
    Bonus
    $0
    Other
    $0
    Deferred
    $11,600
    Nontaxable benefits
    $11,203
    Filer's total
    $389,248

  • Andrew Lee

    VICE CHANCELLOR OF TECHNOL

    Total calculated
    $361,562
    From this org
    $338,895
    From related orgs
    $0
    Other
    $22,667
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $338,895
    Bonus
    $0
    Other
    $0
    Deferred
    $10,695
    Nontaxable benefits
    $11,972
    Filer's total
    $361,562

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
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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 1A
WRITTEN REIMBURSEMENT POLICY EXPLANATION: THE ORGANIZATION ALLOWS FIRST CLASS AND CHARTER TRAVEL WHEN COSTS ARE REASONABLE AND TIME CONSTRAINTS EXIST. ALL TRAVEL IS REVIEWED PRIOR TO BOOKING.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
16 April 2025
IRS schema version
2023v6.0
Source object
202541069349301214

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