FLORIDA ATLANTIC UNIVERSITY FOUNDA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1960

Legal Domicile

Principal Officer

DAVID KIAN

Phone

5612972892

Tax Period

2024-07-01 to 2025-06-30

FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC, founded in 1960, is a mid-sized nonprofit in the Education sector that reported $60.3M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $21.3M, a strong 35% operating margin.

Mission

THE MISSION OF THE FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC. IS TO ENCOURAGE, PROMOTE, AND PROVIDE FUNDS AND OTHER RESOURCES FOR THE BENEFIT OF FLORIDA ATLANTIC UNIVERSITY (A PART OF THE FLORIDA STATE UNIVERSITY SYSTEM) IN FURTHERANCE OF ITS (CONTINUED ON SCHEDULE O) MISSIONS AND PURPOSES AND TO SECURE THE APPLICATION OF THESE FUNDS IN THE BEST MANNER ADAPTED TO THE CONDITIONS OF TIME AND TO THE NEEDS OF FAU.

Program Service Accomplishments

Program 1

Expenses: $18,306,513 Revenue: $441,587

PROVIDED GENERAL SUPPORT TO THE FLORIDA ATLANTIC UNIVERSITY IN THE FORM OF PAYMENTS SUCH AS BUT NOT LIMITED TO GUEST LECTURERS, OPERATIONAL AND CONFERENCE EXPENSES, TRAVEL, CONSULTING, AND EVENTS.

Program 2

Expenses: $9,037,741

PROVIDED 2,828 STUDENTS WITH SCHOLARSHIPS FROM PHILANTHROPIC CONTRIBUTIONS.

Program 3

Expenses: $8,702,780

PROVIDED SUPPORT FOR THE SALARIES OF THE UNIVERSITY'S EMINENT SCHOLARS, PROFESSORS, AND OTHER FACULTY AND STAFF.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $32,452,144

Program Service Revenue $441,587

Investment Income $25,432,384

Other Revenue $2,002,183

TOTAL REVENUE $60,328,298

Expense Breakdown

Grants Paid $36,047,034

Salaries & Benefits $0

Fundraising Expenses $746,385

Program Expenses $36,047,034

Other Expenses $3,021,238

TOTAL EXPENSES $39,068,272

Year-over-Year Comparison

	2024	2023	Change
Revenue	$60,328,298	$49,842,509	+0.2%
Expenses	$39,068,272	$43,134,161	-0.1%
Net Income	$21,260,026	$6,708,348	+2.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$823,040

Total Directors

$743,866

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM HASNER	PRESIDENT AS OF 3/5/25	0.50	Director	$0	$0	$0
STACY A VOLNICK	INTERIM FAU PRESIDENT	0.50	Director	$0	$115,356	$743,866
BRUCE ALLEN	DIRECTOR	0.50	Director	$0	$0	$0
CHARLES CARTWRIGHT	DIRECTOR	0.50	Director	$0	$0	$0
PHYLLIS GLADSTEIN	DIRECTOR	0.50	Director	$0	$0	$0
NOEL GONZALEZ	DIRECTOR	0.50	Director	$0	$0	$0
DANIEL JOSEPH	AUDIT COMMITTEE CHAIR	2.00	Director	$0	$0	$0
PAUL KILGALLON	REAL ESTATE COMMITTEE CHAIR	0.50	Director	$0	$0	$0
STEWART MARTIN	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL MILLER	TREASURER & FINANCE COMMITTEE	2.00	Officer Director	$0	$0	$0
PETER MOORE	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN POULIN	BOARD & EXECUTIVE COMMITTEE CHAIR	2.00	Officer Director	$0	$0	$0
GARY D RUBIN	DIRECTOR	0.50	Director	$0	$0	$0
KEITH SANDERS	NOMINATING & GOV. COMMITTEE	2.00	Director	$0	$0	$0
STEVEN SCHMIDT	DIRECTOR	0.50	Director	$0	$0	$0
RICHARD STONE	DIRECTOR	0.50	Director	$0	$0	$0
IAN SWARTZ	DIRECTOR	0.50	Director	$0	$0	$0
RAUL VALERO	PHILANTHROPY COMMITTEE CHAIR	2.00	Director	$0	$0	$0
ED VENTRICE	INVESTMENT COMMITTEE CHAIR	2.00	Director	$0	$0	$0
MARILYN WALLACH	DIRECTOR	0.50	Director	$0	$0	$0
CHERYL WILKE	VICE CHAIR & SECRETARY	2.00	Officer Director	$0	$0	$0
MICHAEL YOON	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM MORRIS	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT MCCLENGHAN	DIRECTOR	0.50	Director	$0	$0	$0
DAVID L KIAN	INTERIM CEO	40.00	Officer	$0	$63,610	$577,617
MICHELLE DEPALMA	CFO	40.00	Officer	$0	$39,917	$245,423
JOHN KELLY	FORMER FAU PRESIDENT	0.00		$0	$47,078	$525,239

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$60,328,298	$39,068,272	$499,713,646	$21,260,026
2024	$49,842,509	$43,134,161	$462,819,760	$6,708,348
2023	$51,489,358	$33,062,850	$437,211,157	$18,426,508
2022	$79,320,542	$33,810,685	$416,051,768	$45,509,857
2021	$44,215,838	$22,247,742	$393,420,422	$21,968,096
2020	$38,576,412	$31,504,657	$305,932,413	$7,071,755
2019	$45,179,203	$43,627,308	$322,019,873	$1,551,895
2018	$39,512,380	$36,611,212	$328,834,737	$2,901,168

FLORIDA ATLANTIC UNIVERSITY FOUNDATION INC