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← EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD

Form 990 for tax year 2024

Filed by EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD.

Totals

Total revenue
$1,420,317
Total expenses
$1,077,445
Contributions and grants received
$6,630
Grants paid
$24,191
Program service revenue
$1,411,997
Investment income
$1,690
Other revenue
$0
Total assets, end of year
$2,111,702
Total liabilities, end of year
$920,256
Net assets or fund balances, end of year
$1,191,446
Program services expenses (Part IX)
$569,250
Management and general expenses
$508,195
Fundraising expenses
$0
Program service expenses (Part III)
$569,250

Program services were 52.8% 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)

    $6,630

  • 2a · Program service revenue: HIGHER EDUCATION

    total $1,411,997 · related or exempt $1,411,997

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,690 · excluded $1,690

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $24,191 · program services $24,191

  • 5 · Compensation of officers, directors and key employees

    total $116,970 · program services $2,085 · management and general $114,885

  • 7 · Other salaries and wages

    total $306,650 · program services $212,464 · management and general $94,186

  • 8 · Pension plan contributions

    total $37,799 · program services $28,243 · management and general $9,556

  • 9 · Other employee benefits

    total $14,193 · program services -$651 · management and general $14,844

  • 10 · Payroll taxes

    total $3,683 · management and general $3,683

  • 11a · Fees: management

    total $2,567 · management and general $2,567

  • 11c · Fees: accounting

    total $49,016 · management and general $49,016

  • 11g · Fees: other

    total $57,863 · program services $42,604 · management and general $15,259 · fundraising $0

  • 12 · Advertising and promotion

    total $17,787 · program services $15,875 · management and general $1,912

  • 13 · Office expenses

    total $45,479 · program services $0 · management and general $45,479

  • 14 · Information technology

    total $10,686 · program services $1,781 · management and general $8,905

  • 16 · Occupancy

    total $19,461 · program services $9,169 · management and general $10,292

  • 17 · Travel

    total $5,423 · program services $3,531 · management and general $1,892

  • 19 · Conferences, conventions and meetings

    total $2,577 · program services $2,577

  • 20 · Interest

    total $32,150 · program services $2,897 · management and general $29,253

  • 22 · Depreciation, depletion and amortization

    total $143,250 · program services $39,027 · management and general $104,223

  • 24a · Other expenses: COMMISSION EXPENSE

    total $108,099 · program services $108,099

  • 24b · Other expenses: MISC EXPENSES

    total $40,954 · program services $38,711 · management and general $2,243

  • 24c · Other expenses: TAXES

    total $30,211 · program services $30,211

  • 24d · Other expenses: COURSE MATERIALS

    total $8,436 · program services $8,436

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $95,098 · end of year $297,728

  • 2 · Savings and temporary cash investments

    beginning of year $87,322 · end of year $93,972

  • 4 · Accounts receivable

    beginning of year $1,400,693 · end of year $1,592,866

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,601 · end of year $122,216

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

    $137,007

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

    $134,853

  • 10c · Land, buildings and equipment, net

    beginning of year $5,487 · end of year $2,154

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $8,268 · end of year $2,766

  • 17 · Accounts payable and accrued expenses

    beginning of year $513,491 · end of year $662,700

  • 19 · Deferred revenue

    beginning of year $133,711 · end of year $201,761

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $93,436 · end of year $55,795

  • 27 · Net assets without donor restrictions

    beginning of year $862,831 · end of year $1,191,446

Mission and programs · 2024

Mission

THE MISSION OF EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, ASIA LTD (ERAU ASIA) IS TO EXTEND EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC.'S (ERAU) OPPORTUNITY FOR DELIVERING HIGHER EDUCATION AND RESEARCH IN AVIATION AND AEROSPACE IN KEY COUNTRIES OF THE ASIA PACIFIC REGION.

Activities or mission (Part I)

SEE SCHEDULE O

  • ERAU ASIA PROVIDES FLEXIBLE UNDERGRADUATE AND GRADUATE PROGRAMS, OFFERED ON BOTH A PART-TIME AND FULL-TIME BASIS, SERVING BOTH PRE-EMPLOYMENT STUDENTS AND WORKING PROFESSIONALS.

    Expenses $569,250 · Grants $24,191 · Revenue $1,411,997

As filed on the 2024 return.

Listed in Part VII

  • Charles Sevastos

    BOARD MEMBER

    Total calculated
    $354,533
    From this org
    $0
    From related orgs
    $314,194
    Other
    $40,339
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $291,504 related
    Bonus
    $0 + $20,730 related
    Other
    $0 + $1,960 related
    Deferred
    $0 + $31,788 related
    Nontaxable benefits
    $0 + $8,551 related
    Filer's total
    $0 + $354,533 related

  • John Watret

    CHAIRPERSON

    Total calculated
    $586,000
    From this org
    $0
    From related orgs
    $539,770
    Other
    $46,230
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $458,710 related
    Bonus
    $0 + $75,730 related
    Other
    $0 + $5,330 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $11,730 related
    Filer's total
    $0 + $586,000 related

  • Matthew Flaherty

    VICE CHANCELLOR AND HEAD OF ASIA

    Total calculated
    $261,734
    From this org
    $105,488
    From related orgs
    $143,458
    Other
    $12,788
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $90,221 + $122,063 related
    Bonus
    $0 + $739 related
    Other
    $15,267 + $20,656 related
    Deferred
    $0
    Nontaxable benefits
    $5,435 + $7,353 related
    Filer's total
    $110,923 + $150,811 related

  • Randall B Howard

    BOARD MEMBER

    Total calculated
    $713,980
    From this org
    $0
    From related orgs
    $665,973
    Other
    $48,007
    Hours/week
    3 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $561,039 related
    Bonus
    $0 + $100,730 related
    Other
    $0 + $4,204 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $13,507 related
    Filer's total
    $0 + $713,980 related

  • Laurence Chin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Pablo Alvarez

    ASSOC VICE CHANCELLOR

    Total calculated
    $178,814
    From this org
    $48,908
    From related orgs
    $120,478
    Other
    $9,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $41,063 + $100,531 related
    Bonus
    $0 + $739 related
    Other
    $7,845 + $19,208 related
    Deferred
    $0
    Nontaxable benefits
    $2,734 + $6,694 related
    Filer's total
    $51,642 + $127,172 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 First-class or charter travel
THE UNIVERSITY'S TRAVEL POLICY OUTLINES THE SPECIFIC CONDITIONS UNDER WHICH FIRST-CLASS TRAVEL IS PERMITTED, PROVIDED PRIOR APPROVAL IS OBTAINED FROM THE EMPLOYEE'S SENIOR LEADERSHIP AND THE SENIOR VICE PRESIDENT AND CFO OR THE UNIVERSITY PRESIDENT (E.G., TRAVEL INVOLVING FLIGHT SEGMENTS EXCEEDING SIX HOURS, RED-EYE FLIGHTS THAT ELIMINATE THE NEED FOR LODGING, OR CIRCUMSTANCES INVOLVING A DOCUMENTED PHYSICAL DISABILITY OR LIMITATION).
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
ELIGIBLE EMPLOYEES MAY BE PROVIDED WITH A HOUSING ALLOWANCE TO OFFSET HOUSING-RELATED EXPENSES ASSOCIATED WITH THEIR EMPLOYMENT OUTSIDE THE UNITED STATES. SUCH AMOUNTS ARE REPORTED AS OTHER REPORTABLE COMPENSATION ON SCHEDULE J OF FORM 990.
Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE RELATED ORGANIZATION IS UTILIZED IN THE PROCESS OF DETERMINING AND APPROVING COMPENSATION FOR ALL EMPLOYEES, IN CONSULTATION WITH APPROPRIATE PERSONNEL AT EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. SPECIFIC COMPENSATION LEVELS ARE DETERMINED THROUGH COMPARISON WITH SIMILAR POSITIONS.
Schedule J, Part I, Line 7 Non-fixed payments
SELECT INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1 RECEIVED A PERFORMANCE-BASED BONUS FROM ERAU (A RELATED ORGANIZATION). THESE BONUSES ARE DETERMINED BASED ON BOTH INDIVIDUAL PERFORMANCE AND THE OVERALL PERFORMANCE OF THE ORGANIZATION. IN ADDITION, ALL REFERENCED EMPLOYEES RECEIVE A HOLIDAY BONUS IN THE SAME AMOUNT PROVIDED TO ALL UNIVERSITY EMPLOYEES.

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
2024
Filed
13 May 2026
IRS schema version
2024v5.1
Source object
202601339349305705

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