FLORIDA INSTITUTE OF TECHNOLOGY INC

EIN: 596046500 501(c)(3) Education

MELBOURNE, FL

Total Revenue
$237,768,004
Total Expenses
$216,516,225
Total Assets
$431,304,510
Net Assets
$287,932,236
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
FL
Principal Officer
DR JOHN NICKLOW
Phone
3216627297
Tax Period
2024-07-01 to 2025-06-30

FLORIDA INSTITUTE OF TECHNOLOGY INC, founded in 1958, is a major nonprofit in the Education sector that reported $237.8M in total revenue in fiscal year 2024. Expenses of $216.5M left a modest 9% surplus.

Mission

FLORIDA INSTITUTE OF TECHNOLOGY'S MISSION IS TO PROVIDE HIGH-QUALITY EDUCATION TO A CULTURALLY DIVERSE STUDENT BODY IN ORDER TO PREPARE STUDENTS FOR ENTERING THE GLOBAL WORKFORCE, SEEKING HIGHER-EDUCATION OPPORTUNITIES, AND SERVING WITHIN THEIR COMMUNITIES. THE UNIVERSITY ALSO SEEKS TO EXPAND KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH AND TO SERVE THE DIVERSE ECONOMIC, CULTURAL, AND SOCIETAL NEEDS OF OUR LOCAL, STATE, NATIONAL AND INTERNATIONAL CONSTITUENCIES.

Program Service Accomplishments

Program 1
Expenses: $91,004,344 Revenue: $163,957,336

INSTRUCTION AND ACADEMIC SUPPORT THE UNIVERSITY INSTRUCTED 3,677 UNDERGRADUATE, 958 GRADUATE AND 466 DOCTORATE STUDENTS ON CAMPUS AND OFF CAMPUS SITES. IN ADDITION, THERE WERE 4,762 ONLINE STUDENTS...

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INSTRUCTION AND ACADEMIC SUPPORT THE UNIVERSITY INSTRUCTED 3,677 UNDERGRADUATE, 958 GRADUATE AND 466 DOCTORATE STUDENTS ON CAMPUS AND OFF CAMPUS SITES. IN ADDITION, THERE WERE 4,762 ONLINE STUDENTS IN UNDERGRADUATE, GRADUATE AND DOCTORAL PROGRAMS. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS IN THE FOLLOWING FIELDS OF STUDY: AERONAUTICS AND AVIATION, BUSINESS AND MANAGEMENT, PSYCHOLOGY AND BEHAVIOR ANALYSIS, ARTS AND COMMUNICATION, ENGINEERING, SCIENCE AND MATHEMATICS, COMPUTING, PREMED.

Program 2
Expenses: $42,382,722 Revenue: $33,369,100

STUDENT SERVICES, AUXILLARY ENTERPRISES AND OTHER REVENUES MAJOR SERVICES PROVIDED ARE HOUSING AND DINING. IN ADDITION, CAMPUS LIFE REVOLVES AROUND THE CLEMENTE CENTER FOR SPORTS AND RECREATION, THE...

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STUDENT SERVICES, AUXILLARY ENTERPRISES AND OTHER REVENUES MAJOR SERVICES PROVIDED ARE HOUSING AND DINING. IN ADDITION, CAMPUS LIFE REVOLVES AROUND THE CLEMENTE CENTER FOR SPORTS AND RECREATION, THE DENIUS STUDENT CENTER AND PANTHER PLAZA. STUDENTS PARTICIPATE IN A WIDE VARIETY OF INTRAMURAL SPORTS, MORE THAN 100 STUDENT ORGANIZATIONS AND 15 INTERCOLLEGIATE SPORTS. FROM GREEK LIFE TO THE COLLEGE PLAYERS THEATRICAL ORGANIZATION, STUDENTS ARE ACTIVELY INVOLVED IN THE LIFE OF THE CAMPUS COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $24,529,230
Program Service Revenue $197,326,436
Investment Income $14,004,664
Other Revenue $1,907,674
TOTAL REVENUE $237,768,004

Expense Breakdown

Grants Paid $0
Salaries & Benefits $120,557,546
Fundraising Expenses $2,545,229
Program Expenses $133,387,066
Other Expenses $95,958,679
TOTAL EXPENSES $216,516,225

Year-over-Year Comparison

2024 2023 Change
Revenue $237,768,004 $222,506,045 +0.1%
Expenses $216,516,225 $205,194,552 +0.1%
Net Income $21,251,779 $17,311,493 +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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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

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Governance

Voting Members
17
Independent Members
16
Employees
2975
Volunteers
34

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
1
$753,237
Total Directors
22
$0
Key Employees
5
$1,175,533
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR JOHN NICKLOW PRESIDENT 40.00
Officer
$730,067 $23,170 $753,237
MARCO CARVALHO EXECUTIVE DI 40.00
Highest
$386,986 $24,942 $411,928
JOHN HARRIS DEAN 40.00
Highest
$351,584 $25,800 $377,384
HAMID RASSOUL SR. ASSOC. P 40.00
Highest
$323,013 $23,660 $346,673
RATAN JHA PROFESSOR 40.00
Highest
$270,194 $19,161 $289,355
JOHN KISS SVP ACADEMIC 40.00
Key Emp
$254,571 $16,110 $270,681
LINXIA GU DEPT. HEAD/P 40.00
Highest
$236,847 $13,698 $250,545
BRIAN EHRLICH VP ENROLLMEN 40.00
Key Emp
$224,156 $20,806 $244,962
WES SUMMER VP EXTERNAL 40.00
Key Emp
$220,160 $19,305 $239,465
CASSIE PERICAK VP OF PHILAN 40.00
Key Emp
$215,574 $12,125 $227,699
AMANDA MOSKE CHIEF DATA O 40.00
Key Emp
$177,603 $15,123 $192,726
DR RAYMOND A ARMSTRONG TRUSTEE EMER 2.00
Director
$0 $0 $0
DR RICHARD N BANEY TRUSTEE EMER 2.00
Director
$0 $0 $0
MR JOESPH CARUSO TRUSTEE EMER 2.00
Director
$0 $0 $0
DR RITA H CHENG TRUSTEE 2.00
Director
$0 $0 $0
MR DALE A DETTMER TRUSTEE 2.00
Director
$0 $0 $0
MR FRANK DIBELLO TRUSTEE 2.00
Director
$0 $0 $0
MS KIRSTEN DREGGORS TRUSTEE 2.00
Director
$0 $0 $0
MS BOBBIE DYER TRUSTEE 2.00
Director
$0 $0 $0
MS JILL A EANES TRUSTEE 2.00
Director
$0 $0 $0
MR JOSEPH M FLAMMIO TRUSTEE EMER 2.00
Director
$0 $0 $0
MR WILLIAM J GUYAN TRUSTEE 2.00
Director
$0 $0 $0
MR RICHARD P MCNEIGHT TRUSTEE 2.00
Director
$0 $0 $0
MR KENDALL T MOORE TRUSTEE 2.00
Director
$0 $0 $0
MR WILLIAM R MUNS TRUSTEE 2.00
Director
$0 $0 $0
MR ROBERT L PHEBUS TRUSTEE 2.00
Director
$0 $0 $0
MR WILLIAM C POTTER TRUSTEE EMER 2.00
Director
$0 $0 $0
MR ALAN L PRESTWOOD TRUSTEE 2.00
Director
$0 $0 $0
MR D TRAVIS PROCTOR TRUSTEE 2.00
Director
$0 $0 $0
MR JAMES E PRUITT TRUSTEE EMER 2.00
Director
$0 $0 $0
MR MICHAEL SCAFATI TRUSTEE 2.00
Director
$0 $0 $0
MRS ELIZABETH J SWANN TRUSTEE 2.00
Director
$0 $0 $0
MRS KELLE B WENDLING TRUSTEE 2.00
Director
$0 $0 $0
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 $237,768,004 $216,516,225 $431,304,510 $21,251,779
2024 $222,506,045 $205,194,552 $409,277,325 $17,311,493
2023 $211,689,614 $195,508,670 $392,515,019 $16,180,944
2023 $211,689,614 $195,508,670 $392,515,019 $16,180,944
2022 $211,905,030 $178,859,614 $365,997,588 $33,045,416
2021 $191,425,099 $179,874,014 $380,099,144 $11,551,085
2020 $193,652,576 $181,795,614 $338,516,450 $11,856,962
2019 $197,104,830 $185,993,835 $260,379,597 $11,110,995
2018 $191,847,243 $184,590,033 $251,711,555 $7,257,210
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