2024-04-12T14:36:51-07:00 2023-06-30 990 2022-07-01 590668483 FLORIDA MEMORIAL UNIVERSITY INC FLOR 3054300339 15800 NW 42nd AVENUE MIAMI GARDENS FL 330546155 Rodney Sobelson Controller 3056263614 2024-04-12 Rodney Sobelson 999009999 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Rodney Sobelson 15800 NW 42nd Avenue Miami Gardens FL 33054 50617199 0 X FMUNIV.EDU X 1862 FL HIGHER EDUCATION 21 21 455 0 0 0 20788892 17978207 24169403 26759438 204942 5522542 197812 159531 45361049 50419718 6541385 6792182 0 0 16640588 15749963 0 0 748755 27279627 26475869 50461600 49018014 -5100551 1401704 87291712 84253989 15835056 10852233 71456656 73401756 Education - Florida Memorial University endeavors to instill in students the importance of becoming global citizens through life-long learning, leadership, character, and service, which will enhance their lives and the lives of others. 0 0 5662055 1040163 303907 Student Services Programs: Support services and activities surrounding students. The University has approximately 1156 students. 2781713 596277 17581253 Academic Support: Educational Delivery; General & Other: Support Staff (Deans, secretaries, and administration) to carry out the functional support duties of the instructional unit (~1156 students). 3839696 1020055 526142 Instructional: The University offers programs designed to liberally educate students in a postindustrial, high technology society. There are educational programs through the Divisions of Airway and Computer Sciences, Business Administration, Education and Humanities, Natural Sciences, Mathematics, Social Sciences, and the nondegree General College Division and Division of Lifelong Learning. 13643198 3462454 12880051 Education, General/Other: Institutional Support. Infrastructure to support the University and carryout it's primary goal of educating students. (~1156 students). Includes auxiliary expenses, business & fiscal, and presidents office under Depts. 100, 300, & 500 as well. Also includes student aid & discounts (shown contra-revenue in financial statements). 6792181 0 0 Grants & Other Assistance program service expenses 20435379 3462454 12880051 32718843 1 1 0 1 0 1 1 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 82 0 0 455 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 FL X Rodney Sobelson 3054300339 15800 NW 42nd AVENUE MIAMI GARDENS FL 330546155 Jaffus Hardrick President 40 0 X 286500 0 0 Jacqueline Hill Interim VP & Exec Provost 40 0 X 160000 0 9441 Samuel A Darko Dean of Arts & Sciences 40 0 X 130000 0 17016 Rodney Sobelson AVP for Finance and Administration 50 0 X 126000 0 7488 Sonya Miller General Counsel 40 0 X 112500 0 18059 Cory Witherspoon VP of University Advancement 40 0 X 103500 0 16871 Jason Horn AVP of Athletics 40 0 X 112500 0 6524 Imani Fredricks-Lowman AVP of Academic Engagement & Student Success 40 0 X 95000 0 7488 Carlos Canas Director of Institutional Research 40 0 X 91000 0 7488 Dr Clyde Lewis AVP of Enrollment Management 40 0 X 95000 0 0 Dr Annamaria Jerome-Raja Trustee, Faculty Senate 40 0 X 85593 0 0 Sharon Wilson Esq Trustee 1 0 X 0 0 0 Mr William McCormick Board Chair 2 1 X X 0 0 0 Mr E Ray Smith Trustee, Treasurer 1 0 X X 0 0 0 Mona-Lisa Pinkney Trustee 1 0 X 0 0 0 Kimberly M Chapman Trustee 1 0 X 0 0 0 Mr Charles W George Trustee 1 0 X 0 0 0 Brandon K Dumas Trustee 1 0 X 0 0 0 Susan Nystrom Trustee 1 0 X 0 0 0 Rev Bartholomew Banks Sr Trustee 1 0 X 0 0 0 Carl Johnson Trustee 1 0 X 0 0 0 Dr Marcus D Davidson Trustee 1 0 X 0 0 0 Brittany McMillon Trustee 1 0 X 0 0 0 Audrey White First Vice Chair 1 0 X X 0 0 0 John Owens Esq Secretary 1 0 X 0 0 0 Dorothy P Davis Trustee 1 0 X 0 0 0 Dr Glenn Parker Trustee 1 0 X 0 0 0 Tracy Wright Trustee 1 0 X 0 0 0 Dr Lawrence Morehouse Trustee 1 0 X 0 0 0 Deneshea L Phelps Trustee 1 0 X 0 0 0 Walter Weatherington Trustee, Vice Chair 1 0 X X 0 0 0 Dr Gerald Glass Trustee 40 0 X 0 0 0 Akil Rose Trustee, SGA President 1 0 X 0 0 0 1397593 0 90375 7 0 1 0 Thompson Hospitality Services 505 Huntmar Park Drive Suite 300 Herndon VA 20170 Cafeteria foodservice 2843106 Mechanical Air Concepts 4253 SW 71st Avenue Miami FL 33155 HVAC work 1334997 Follett Higher Education 3 Westbrook Corporate Center Westchester IL 60154 Textbook Vendor 974231 US Security 3101 W Hallandale Beach Blvd Suite 102 Pembroke Park FL 33009 Security Services 1285613 Airstron Inc 1559 SW 21st Avenue Fort Lauderdale FL 33312 HVAC Vendor 737068 30 0 0 0 0 16180647 1797560 0 17978207 Tuition & Fees gross of student discounts 611310 18847704 18847704 0 0 Auxiliary Enterprises 611310 5491572 5491572 0 0 Proceeds from Employee Retention Tax Credit 611310 2420162 2420162 0 0 0 0 0 0 26759438 220023 220023 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5500000 0 197481 0 5302519 5302519 5302519 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 159531 159531 0 0 159531 50419718 32441511 0 0 6792182 6792182 0 0 0 0 0 0 1154089 708562 425063 20464 0 0 0 0 12536736 7697025 4617408 222303 0 0 0 0 1066319 654675 392736 18908 992819 609549 365665 17605 6633524 4072702 2443195 117627 113605 69749 41842 2014 287781 176685 105993 5103 90000 55256 33148 1596 0 0 0 0 0 0 157136 96475 57875 2786 85360 52407 31439 1514 1202994 738587 443075 21332 931367 571820 343032 16515 0 0 0 0 50395 30940 18561 894 816462 501273 300711 14478 0 0 0 0 24632 15123 9072 437 23461 14404 8641 416 0 0 0 0 2397036 1471678 882853 42505 3832459 2352967 1411534 67958 Repairs & Maintenance 3058138 1877567 1126344 54227 Utilities & Property Taxes 1972411 1210977 726459 34975 Books & Subscriptions 1255116 770588 462272 22256 Bad Debt Expense 898112 551403 330784 15925 2645880 1626249 972714 46917 49018014 32718843 15550416 748755 0 0 6526246 525653 5336902 3056641 4466876 4407038 0 0 0 0 0 0 1145710 1327348 104113013 57935025 47780013 46177988 7529768 11473593 0 0 0 0 0 0 14506197 17285728 87291712 84253989 5215238 7761981 0 0 8169390 601472 0 0 0 0 0 0 0 0 0 0 2450428 2488780 15835056 10852233 X 61050971 62751048 10405685 10650708 71456656 73401756 87291712 84253989 X 1401704 545884 0 0 0 -2488 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 90000 0 0 90000 0 Schedule C, Part II-B, Line 1 The University outsources is governmental lobbying efforts to an outside law firm. All such expenses are directly to that firm for lobbying-related activities. 110 0 434112 0 0 0 4146223 0 1 1 X 1 100 0 0 0 1 0 50 7500 0 5103989 434112 765907 50804 0 0 6253204 6013894 66828 -925025 51708 0 0 5103989 4472770 120423 1465389 44688 0 0 6013894 3998842 161368 350891 38331 0 0 4472770 3735502 63379 235493 35532 0 0 3998842 0.496 0.366 0.138 0 0 0 667823 667823 0 74302764 32618451 41684313 0 0 0 0 0 29142426 25316574 3825852 0 0 0 0 46177988 Beneficial Interest in FMU Foundation 13768547 Other receivables 2809974 Right of Use Asset ASC 842 implementation 707207 17285728 0 Lease Liability ASC 842 720357 Agency Liabilities 863253 Designated Scholarships Payable 828988 Legal Reserve 50000 Other miscellaneous liabilities 26182 2488780 X 50295946 545884 0 0 0 545884 49750062 0 669656 669656 50419718 48348359 0 0 0 0 0 48348359 0 669655 669655 49018014 Schedule D, Part II, Line 9 The University's Foundation owns a total of approximately 280 acres of land, of which 100 acres are uplands (balance are wetlands) designated by the State of Florida on land in St John's County in the City of St Augustine, Florida. The land is included within the beneficial interest in Foundation recorded on the Statement of Financial Position as part of the Foundation's assets consolidated into the financial statements of the University. Footnote 4 details the Beneficial Interest in Foundation in the 2023 audited financial statements. Schedule D, Part V, Line 4 The primary use of the University's endowment funds are to provide scholarships to students attending the University using the investment income earned on the corpus. Schedule D, Part X, Line 2 The University follows the provisions of ASC 740, Income Taxes, and has determined that as of June 30, 2023 and 2022, the University had no material unrecognized tax provision or benefits. The University does not expect that unrecognized tax provision or benefits will materially increase within the next twelve months. Tax periods open to examination by major taxing jurisdictions include fiscal years June 30, 2020 through June 30, 2023. Schedule D, Part XI, Line 4b Represents student aid and discounts, which are recognized as contra revenue for purposes of the audited financial statements, but are recognized as expenses for purposes of the Form 990 informational return. Schedule D, Part XII, Line 4b Represents student aid and discounts, which are recognized as contra revenue for purposes of the audited financial statements, but are recognized as expenses for purposes of the Form 990 informational return. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The racially nondiscriminatory policy is advertised on the University's website (www.fmuniv.edu), as well as in print and television advertising for upcoming registration periods. Schedule E, Part I, Line 6 The University receives Federal Title IV program financial aid and also participates in and receives State of Florida financial aid as well. In addition, the University receives Federal Title III, Dept. of Education, National Science Foundation, Environmental Protection Agency, Dept. of Energy, Nuclear Regulatory Commission, and the National Institute of Health, as well as State Appropriation from FL Dept. of Education and Dept. of Highway Safety and Motor Vehicles. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Jaffus Hardrick President 256500 0 0 0 30000 0 0 0 0 0 286500 0 0 0 Samuel A Darko Dean of Arts & Sciences 130000 0 0 0 0 0 0 0 17016 0 147016 0 0 0 Jacqueline Hill Interim VP & Exec Provost 160000 0 0 0 0 0 0 0 9441 0 169441 0 0 0 Rodney Sobelson AVP for Finance and Administration 126000 0 0 0 0 0 0 0 7488 0 133488 0 0 0 Sonya Miller General Counsel 112500 0 0 0 0 0 0 0 18059 0 130559 0 0 0 Jason Horn AVP of Athletics 112500 0 0 0 0 0 0 0 6524 0 119024 0 0 0 Cory Witherspoon VP of University Advancement 103500 0 0 0 0 0 0 0 16871 0 120371 0 0 0 Imani Fredricks-Lowman AVP of Academic Engagement & Student Success 95000 0 0 0 0 0 0 0 7488 0 102488 0 0 0 Dr Clyde Lewis AVP of Enrollment Management 95000 0 0 0 0 0 0 0 0 0 95000 0 0 0 Carlos Canas Director of Institutional Research 91000 0 0 0 0 0 0 0 7488 0 98488 0 0 0 Dr Annamaria Jerome-Raja Trustee, Faculty Senate 85593 0 0 0 0 0 0 0 0 0 85593 0 0 0 Schedule J, Part I, Line 1a The President of the University receives a monthly housing allowance per his employment contract. Schedule J, Part I, Line 3 The President receives a monthly housing allowance per his employment contract. Form 990, Part VI, Section B, Line 11b The filing was prepared by the AVP for Finance, who reports directly to the President. The President in turn reports directly to the Board of Trustees. The Board of Trustees also reviews the annual audited financial statements which are used to populate the IRS Form 990. The process used to complete the 990 consists of the AVP for Finance completing the supporting schedules that roll into the Form 990, answering all questions within, performing the verification check online for errors, clearing any errors, and filing the form online prior to 2/15/2024 deadline Form 990, Part VI, Section B, Line 12c The University regularly reviews (and revises when necessary) its Conflict of Interest policy. All new key employees are required to acknowledge that they have received and read the policy by signing and returning an acknowledgement page. All Board members are advised of the Conflict of Interest policy and are asked to complete and update annually. Form 990, Part VI, Section B, Line 15 The compensation for the University's President is approved by a select committee from the Board of Trustees and is incorporated upon the initial hiring, usually conducted by a search firm. This group examines data along with current comparative industry salaries and compensation for this position, including area and size of the university/college. Other officers and key employee salaries are approved by the President in conjunction with HR and are benchmarked against salary standards such as the College and University Professional Association (CUPA). Form 990, Part VI, Section C, Line 19 The University makes its governing documents, conflict of interest policy, and audited financial statements available to the public upon request. Also, Form 990 and the annual audited financial statements are filed with the appropriate government and grantor agencies annually. Form 990, Part XI, Line 9 The University recognized a negative change in beneficial interest in its Foundation of ($2,488). The University lost its general ledger system and several other supplemental systems for a 6 week period during the closing period and the course of the external audit fieldwork, and thus the audit was completed on March 31, 2024. Thus the Form 990 could not be completed until the audit was finished. The system lost resulted from network issues significantly impacting the University. Our IT staff and consultants are working to ensure this does not recur.