EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC

EIN: 590936101 501(c)(3) Education

DAYTONA BEACH, FL

Total Revenue
$702,956,238
Total Expenses
$601,659,234
Total Assets
$1,443,112,700
Net Assets
$999,846,577
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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
FL
Principal Officer
RANDALL B HOWARD
Phone
3862266000
Tax Period
2022-07-01 to 2023-06-30

EMBRY-RIDDLE AERONAUTICAL UNIVERSITY INC, founded in 1960, is a major nonprofit in the Education sector that reported $703.0M in total revenue in fiscal year 2022. Expenses of $601.7M left a modest 14% surplus.

Mission

EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. (UNIVERSITY OR EMBRY-RIDDLE) IS A PRIVATE, CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING. EMBRY-RIDDLE IS THE LARGEST AND OLDEST AVIATION AND AEROSPACE-FOCUSED UNIVERSITY IN THE WORLD. THE UNIVERSITY HAS EVOLVED WITH INDUSTRY TOSERVE THE EVER-CHANGING NEEDS OF AVIATION AND AEROSPACE AND OTHER STEM-RELATED DISCIPLINES. EMBRY-RIDDLE OFFERS PROGRAMS IN SEVEN PRIMARY FIELDS OF STUDY INCLUDING APPLIED SCIENCE, AVIATION, BUSINESS, COMPUTERS AND TECHNOLOGY, ENGINEERING, SAFETY, SECURITY ANDINTELLIGENCE AND SPACE. EMBRY-RIDDLE, THROUGH ITS ACADEMIC PROGRAMS, CONTINUING EDUCATION, AND APPLIED RESEARCH, BENEFITS THE GLOBAL AEROSPACE AND AVIATION INFRASTRUCTURE. THE UNIVERSITY'S EFFORTS SUPPORT THE GROWTH AND TECHNOLOGICAL ADVANCEMENTS ENCOMPASSING THE ENTIRE AVIATION AND AEROSPACE INDUSTRY; THE CONTRIBUTIONS OF EMBRY-RIDDLE STUDENTS, FACULTY AND STAFF TRANSCEND FAR BEYOND THE "STUDENT BODY".

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $44,304,520
Program Service Revenue $635,671,636
Investment Income $22,431,014
Other Revenue $549,068
TOTAL REVENUE $702,956,238

Expense Breakdown

Grants Paid $147,815,746
Salaries & Benefits $283,456,713
Fundraising Expenses $3,760,119
Program Expenses $475,588,945
Other Expenses $170,386,775
TOTAL EXPENSES $601,659,234

Year-over-Year Comparison

2022 2021 Change
Revenue $702,956,238 $704,944,658 0.0%
Expenses $601,659,234 $573,049,513 +0.0%
Net Income $101,297,004 $131,895,145 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
15
Employees
7731
Volunteers
N/A

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
2
$1,557,491
Total Directors
17
$0
Key Employees
11
$3,668,902
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MORTEZA HOSSEINI BOARD MEMBER - CHAIR 5.00
Director
$0 $0 $0
JAMES HENDERSON BOARD MEMBER - VICE CHAIR 5.00
Director
$0 $0 $0
JOSEPH MARTIN BOARD MEMBER - TREASURER 3.00
Director
$0 $0 $0
ZANE ROWE BOARD MEMBER - SECRETARY 3.00
Director
$0 $0 $0
MICHAEL AMALFITANO BOARD MEMBER 2.00
Director
$0 $0 $0
JOHN AMORE BOARD MEMBER 2.00
Director
$0 $0 $0
KENNETH DUFOUR BOARD MEMBER 2.00
Director
$0 $0 $0
CHARLES DUVA BOARD MEMBER 2.00
Director
$0 $0 $0
JON SLANGERUP BOARD MEMBER 2.00
Director
$0 $0 $0
DAVID O'MALEY BOARD MEMBER 2.00
Director
$0 $0 $0
GLENN S RITCHEY BOARD MEMBER 2.00
Director
$0 $0 $0
JEAN G ROSANVALLON BOARD MEMBER 2.00
Director
$0 $0 $0
SALLY MASON BOARD MEMBER 2.00
Director
$0 $0 $0
JANET KAVANDI BOARD MEMBER 2.00
Director
$0 $0 $0
NEAL KEATING BOARD MEMBER 2.00
Director
$0 $0 $0
STEVEN NORDLUND BOARD MEMBER 2.00
Director
$0 $0 $0
ROBERT KEYS BOARD MEMBER 2.00
Director
$0 $0 $0
PATRICK BARRY BUTLER PRESIDENT 50.00
Officer
$894,804 $42,344 $937,148
RANDALL HOWARD SVP, CFO 50.00
Officer
$573,724 $46,619 $620,343
JOHN WATRET CHANCELLOR, WORLDWIDE 45.00
Key Emp
$481,320 $45,582 $526,902
RODNEY CRUISE SVP ADMINISTRATION & COO 40.00
Key Emp
$433,373 $46,112 $479,485
LON MOELLER SVP ACADEMIC AFFAIRS & PROVOST 40.00
Key Emp
$366,524 $40,905 $407,429
ANETTE KARLSSON CHANCELLOR, PRESCOTT CAMPUS 40.00
Key Emp
$342,045 $31,158 $373,203
CHARLES SEVASTOS VICE PRESIDENT & GENERAL COUNSEL 40.00
Key Emp
$288,418 $36,588 $325,006
REBECCA VASQUEZ VICE PRESIDENT, CIO 40.00
Key Emp
$251,051 $31,842 $282,893
BRANDON YOUNG VICE PRESIDENT, CHRO 40.00
Key Emp
$244,506 $34,590 $279,096
JASON RUCKERT SVP, ENROLLMENT MGMT/MKTG 40.00
Key Emp
$259,283 $28,168 $287,451
KEVIN KREIDE VICE PRESIDENT, FACILITIES 40.00
Key Emp
$204,869 $20,883 $225,752
ALAN STOLZER DEAN, COLLEGE OF AVIATION & PROF 40.00
Key Emp
$229,742 $38,341 $268,083
REMZI SEKER VICE PRESIDENT, RESEARCH 40.00
Key Emp
$189,746 $23,856 $213,602
STEVEN RIDDER HEAD BASKETBALL COACH DB 40.00
Highest
$474,710 $40,982 $515,692
SHANAN GIBSON DEAN, COLLEGE OF BUSINESS 40.00
Highest
$259,413 $26,853 $286,266
JAMES GREGORY DEAN, COLLEGE OF ENGINEERING 40.00
Highest
$372,609 $45,540 $418,149
ANASTASIOS LYRINTZIS DEPARTMENT CHAIR 40.00
Highest
$254,698 $37,096 $291,794
RICCARDO BEVILACQUA PROFESSOR AEROSPACE ENGINEERING 40.00
Highest
$249,582 $40,549 $290,131
FRANCES AYERS FORMER CHANCELLOR, PRESCOTT 40.00
$149,247 $15,107 $164,354
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 No data No data No data No data
2024 No data No data No data No data
2023 $702,956,238 $601,659,234 $1,443,112,700 $101,297,004
2022 $704,944,658 $573,049,513 $1,324,755,345 $131,895,145
2021 $616,318,485 $518,217,008 $1,265,271,185 $98,101,477
2020 $561,742,106 $498,574,030 $1,097,177,529 $63,168,076
2019 $536,554,951 $467,556,780 $886,582,465 $68,998,171
2018 $512,764,356 $456,807,109 $828,294,172 $55,957,247
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