2026-05-13T14:09:25+00:00 2025-06-30 135565207 KPMG LLP 8350 Broad Street Suite 900 McLean VA 22102 990 2024-07-01 980681431 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY ASIA LTD EMBR 3863238078 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 JARE ALLOCCO ALLEN VP and University Controller 3863238078 2026-05-13 true true Brian Kearns P02061479 7032868000 2026-05-11 2024 2025-03-06 01:10:19Z JOHN WATRET PHD 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 1420317 false X WWW.ASIA.ERAU.EDU X 2009 SN SEE SCHEDULE O 5 1 0 0 0 7051 6630 1813561 1411997 -4246 1690 0 1816366 1420317 68300 24191 0 527525 479295 0 0 1123387 573959 1719212 1077445 97154 342872 1603469 2111702 740638 920256 862831 1191446 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. false false 569250 24191 1411997 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. 569250 true false false false false false false false false false true false false false true true true true true true true false true false false false false false false true false false false false false false false false false false false false false false false true true true false false true X 0 0 0 false true SN false false false false false false false false false false X 5 1 false false false false true true true true true false false false true true true true true true false false false false X JARE ALLOCCO ALLEN 3863238078 1 AEROSPACE BLVD DAYTONA BEACH FL 32114 CHARLES SEVASTOS BOARD MEMBER 3.0 40.0 X X 0 314194 40339 JOHN WATRET CHAIRPERSON 5.0 40.0 X X 0 539770 46230 MATTHEW FLAHERTY VICE CHANCELLOR AND HEAD OF ASIA 50.0 0 X X 105488 143458 12788 RANDALL B HOWARD BOARD MEMBER 3.0 50.0 X X 0 665973 48007 LAURENCE CHIN BOARD MEMBER 3.0 0.0 X 0 0 0 PABLO ALVAREZ ASSOC VICE CHANCELLOR 40.0 0 X 48908 120478 9428 154396 1783873 156792 1 false true false BS KAH PRIVATE LIMITED 75 BUKIT TIMAH ROAD 05-03 BOON SIEW BLDG SN 229833 FACILITY RENTAL/MGMT 106093 1 6630 6630 HIGHER EDUCATION 611310 1411997 1411997 0 0 0 0 1411997 1690 1690 0 0 0 0 0 0 0 0 0 1420317 1411997 0 1690 24191 24191 116970 2085 114885 306650 212464 94186 37799 28243 9556 14193 -651 14844 3683 3683 2567 2567 49016 49016 57863 42604 15259 0 17787 15875 1912 45479 0 45479 10686 1781 8905 19461 9169 10292 5423 3531 1892 2577 2577 32150 2897 29253 143250 39027 104223 COMMISSION EXPENSE 108099 108099 MISC EXPENSES 40954 38711 2243 TAXES 30211 30211 COURSE MATERIALS 8436 8436 0 0 0 0 1077445 569250 508195 0 95098 297728 87322 93972 1400693 1592866 0 0 0 0 6601 122216 137007 134853 5487 2154 0 0 8268 2766 1603469 2111702 513491 662700 133711 201761 0 0 93436 55795 740638 920256 862831 1191446 862831 1191446 1603469 2111702 X 342872 -14257 X false true true false X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 X 0 0 0 0 0 0 130725 130665 60 6282 4188 2094 2154 Federal Income Taxes PROVISION FOR RESTORATION 0 PROVISION FOR TAXATION 52915 RIGHT OF USE LEASE LIABILITIES 2880 55795 X 1308791 0 0 1308791 111526 111526 1420317 980176 -73078 -73078 1053254 24191 24191 1077445 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote IN DETERMINING CURRENT AND DEFERRED TAXES, ERAU ASIA CONSIDERS THE IMPACT OF UNCERTAIN TAX POSITIONS AND WHETHER ADDITIONAL TAXES AND INTEREST MAY BE DUE. ERAU ASIA BELIEVES ITS ACCRUALS FOR TAX LIABILITIES ARE ADEQUATE FOR ALL OPEN TAX YEARS BASED ON ITS ASSESSMENT OF VARIOUS FACTORS, INCLUDING INTERPRETATIONS OF TAX LAW AND PRIOR EXPERIENCE. THIS ASSESSMENT RELIES ON ESTIMATES AND ASSUMPTIONS AND INVOLVES JUDGMENT REGARDING FUTURE EVENTS. NEW INFORMATION MAY BECOME AVAILABLE THAT CAUSES ERAU ASIA TO REVISE ITS ASSESSMENT OF EXISTING TAX LIABILITIES; ANY SUCH CHANGES WILL BE REFLECTED IN TAX EXPENSE IN THE PERIOD THE DETERMINATION IS MADE. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements INSTITUTIONALLY FUNDED SCHOLARSHIP EXPENSE WAS REPORTED AS CONTRA-REVENUE IN THE AUDITED FINANCIAL STATEMENTS. - 24191 MANAGEMENT FEE RECHARGE REVENUE WAS REPORTED AS A CONTRA-EXPENSE IN THE AUDITED FINANCIAL STATEMENTS. - 87335 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 LOSS ON FOREIGN CURRENCY EXCHANGE WAS REPORTED AS OTHER OPERATING EXPENSES IN THE AUDITED FINANCIAL STATEMENTS. - 14257 MANAGEMENT FEE RECHARGE REVENUE WAS REPORTED AS A CONTRA-EXPENSE IN THE AUDITED FINANCIAL STATEMENTS. - -87335 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements INSTITUTIONALLY FUNDED SCHOLARSHIP EXPENSE WAS REPORTED AS CONTRA-REVENUE IN THE AUDITED FINANCIAL STATEMENTS. - 24191 true true true true true true true false false false false false false false false false false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY SEE EXPLANATION IN PART II Schedule E, Part I, Line 3 EXPLANATION OF NONDISCRIMINATION POLICY: ERAU ASIA IS A FOREIGN ORGANIZATION THAT DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENT BODY FROM ABROAD AND MEETS THE CRITERIA OF SECTION 4.03(2)(B) OF REVENUE PROCEDURE 75-50. ERAU ASIA MAINTAINS A RACIALLY NONDISCRIMINATORY POLICY, WHICH IS PUBLICIZED IN ITS ADMISSION APPLICATION MATERIALS AND ON ITS WEBSITE, BOTH OF WHICH ARE ACCESSIBLE TO THE GENERAL COMMUNITY IT SERVES AND THE PUBLIC. false East Asia and the Pacific 1 56 Program Services HIGHER EDUCATION 1053254 East Asia and the Pacific 0 0 GRANTS TO RECIPIENTS 24191 1 56 0 0 1 56 1077445 0 1077445 FINANCIAL ASSISTANCE East Asia and the Pacific 4 24191 SEE SCHEDULE O 0 false false true false false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual Schedule F, Part III Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC -Accrual X X true true false false false false false false false true false RANDALL B HOWARD BOARD MEMBER 0 561039 0 100730 0 4204 0 34500 0 13507 0 713980 0 0 JOHN WATRET CHAIRPERSON 0 458710 0 75730 0 5330 0 34500 0 11730 0 586000 0 0 CHARLES SEVASTOS BOARD MEMBER 0 291504 0 20730 0 1960 0 31788 0 8551 0 354533 0 0 MATTHEW FLAHERTY VICE CHANCELLOR AND HEAD OF ASIA 90221 122063 0 739 15267 20656 0 0 5435 7353 110923 150811 0 0 PABLO ALVAREZ ASSOC VICE CHANCELLOR 41063 100531 0 739 7845 19208 0 0 2734 6694 51642 127172 0 0 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. Form 990, Part I, Line 1 THE MISSION OF EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, ASIA LTD (ERAU ASIA) IS TO EXTEND EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC.'S (ERAU'S) OPPORTUNITIES FOR DELIVERING HIGHER EDUCATION AND RESEARCH IN AVIATION AND AEROSPACE IN KEY COUNTRIES OF THE ASIA PACIFIC REGION. Form 990, Part VI, Line 1b INDEPENDENT VOTING MEMBERS EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. SOUGHT TO EXPAND OPERATIONS IN ASIA AND WAS ADVISED TO ESTABLISH A LOCAL ENTITY. MOST VOTING MEMBERS HAVE EXISTING RELATIONSHIPS WITH, AND ARE COMPENSATED BY THE PARENT ORGANIZATION, EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC., TO HELP ENSURE THAT ERAU ASIA SUPPORTS THE MISSION AND STRATEGIC OBJECTIVES OF THE UNIVERSITY. Form 990, Part VI, Line 15 OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION COMPENSATION FOR ALL EMPLOYEES IS ESTABLISHED AND APPROVED IN CONSULTATION WITH APPROPRIATE PERSONNEL AT EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. SPECIFIC COMPENSATION LEVELS ARE DETERMINED THROUGH COMPARISON WITH SIMILAR POSITIONS. Form 990, Part VI, Line 6 Classes of members or stockholders EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC. IS THE SOLE MEMBER OF ERAU ASIA. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC., AS THE SOLE MEMBER SET FORTH IN THE ARTICLES OF ASSOCIATION, HAS THE AUTHORITY TO APPOINT AND REMOVE THE VICE CHANCELLOR AND HEAD OF ASIA, AS WELL AS TO DIRECT THE AFFAIRS OF ERAU ASIA. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC., AS THE FOUNDING MEMBER, HAS THE SOLE AUTHORITY TO APPOINT AND REMOVE THE VICE CHANCELLOR AND HEAD OF ASIA OF ERAU ASIA. ADDITIONALLY, THE FOUNDING MEMBER HAS THE FINAL AUTHORITY OVER THE REMOVAL OF ANY OTHER BOARD MEMBER, INCLUDING THE POWER TO APPROVE OR REJECT ANY SUCH ACTION PROPOSED BY THE DIRECTORS. THE FOUNDING MEMBER CANNOT BE EXPELLED, EXCLUDED, OR REMOVED FROM THE ORGANIZATION AND RETAINS ABSOLUTE DISCRETION TO APPROVE, REJECT, OR VETO ANY ACTION RELATED TO THE EXPULSION, EXCLUSION, OR REMOVAL OF ANY MEMBER. Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING, FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT AND ITS INDEPENDENT TAX ACCOUNTANTS AT KPMG. ALL MEMBERS OF THE BOARD OF DIRECTORS ARE PROVIDED AN ELECTRONIC COPY OF THE COMPLETE FORM PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy ERAU ASIA IS MANAGED IN ACCORDANCE WITH THE POLICIES AND PROCEDURES OF EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC., EXCEPT WHERE SUCH POLICIES AND PROCEDURES CANNOT OR DO NOT APPLY UNDER SINGAPORE LAW. ERAU ASIA BOARD MEMBERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM, WHICH IS SUBMITTED TO THE OFFICE OF AUDIT, RISK, AND COMPLIANCE OF EMBRY-RIDDLE AERONAUTICAL UNIVERSITY, INC., TO ENSURE COMPLIANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY. Form 990, Part VI, Line 19 Required documents available to the public ERAU ASIA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ITS AUDITED FINANCIAL STATEMENTS ARE DISCLOSED ON ERAU ASIA'S WEBSITE. Form 990, Part X, Line 19 DEFERRED REVENUE REPRESENTS THE UNEARNED PORTION OF TUITION AND FEES BILLED IN ADVANCE OF AN ACADEMIC TERM. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CURRENCY CONVERSION ADJUSTMENT - -14257; Total - -14257; Form 990, Part XII, Line 3a ERAU ASIA DOES NOT RECEIVE U.S. FEDERAL AWARDS AND, THEREFORE, IS NOT SUBJECT TO AN AUDIT UNDER THE UNIFORM GUIDANCE. Form 990, Part XII, Line 2c CHANGE OF OVERSIGHT PROCESS OR SELECTION PROCESS ERAU ASIA DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR. Schedule F, Part III(e) MANNER OF CASH DISBURSEMENT ALL FINANCIAL AID IS APPLIED DIRECTLY TO STUDENTS' OUTSTANDING RECEIVABLE BALANCES. NO CASH IS PHYSICALLY DISBURSED. INSTITUTIONAL STUDENT AID IS MONITORED CONTINUOUSLY THROUGHOUT THE FISCAL YEAR USING VARIOUS STUDENT ACCOUNT AND INSTITUTIONAL PROGRAM REPORTS. EMBRY-RIDDLE AERONAUTICAL UNIV INC 1 AEROSPACE BOULEVARD DAYTONA BEACH FL 32114 HIGHER EDUCATION FL 501(c)(3) 2 NA false ERAU ASIA INSTITUTE LTD 70 SELETAR AEROSPACE VIEW 02-01 AIR 7 ASIA BUILDING SN 797564 HIGHER EDUCATION SN ERAU ASIA C Corporation 0 0 1 true false false true false true false false false false false false false false false false true true true false ERAU ASIA INSTITUTE LTD R 1389707 FMV RELATED ORGANIZATION: ERAU ASIA INSTITUTE, LTD. THE PRIVATE EDUCATION SECTOR IN SINGAPORE IS REGULATED BY SKILLSFUTURE SINGAPORE (SSG), A STATUTORY BOARD UNDER THE SINGAPORE MINISTRY OF EDUCATION (MOE). SSG OVERSEES PRIVATE EDUCATION INSTITUTIONS THROUGH THE ENHANCED REGISTRATION FRAMEWORK (ERF) AND THE EDUTRUST CERTIFICATION SCHEME. THE ERF IS MANDATORY FOR ALL PRIVATE EDUCATION INSTITUTIONS (PEIS), OR FOREIGN UNIVERSITIES OPERATING IN SINGAPORE, AND ESTABLISHES REQUIREMENTS RELATED TO GOVERNANCE, QUALITY OF SERVICE, STUDENT WELFARE, AND FINANCIAL TRANSPARENCY. REGISTRATION UNDER THE ERF SIGNIFIES A BASELINE LEVEL OF ACCREDITATION, ASSURING STUDENTS OF A REPUTABLE INSTITUTION. EDUTRUST CERTIFICATION IS A VOLUNTARY QUALITY ASSURANCE SCHEME THAT IMPOSES ADDITIONAL STANDARDS FOR ACADEMIC GOVERNANCE, PROGRAM DELIVERY, FACULTY QUALIFICATIONS, STUDENT PROTECTION, AND INSTITUTIONAL SUSTAINABILITY, INCLUDING EXTERNAL AUDIT AND ONGOING COMPLIANCE MONITORING. THE ERF AND EDUTRUST CERTIFICATION SCHEME REPRESENT SIGNIFICANT UNDERTAKINGS FOR PEIS, REQUIRING THOROUGH DOCUMENTATION, SELF-ASSESSMENT, AND EXTERNAL AUDITS TO ENSURE COMPLIANCE WITH REGULATORY REQUIREMENTS AND QUALITY STANDARDS. COMPLIANCE WITH THE ERF AND ATTAINMENT OF EDUTRUST CERTIFICATION REQUIRE SUBSTANTIAL INSTITUTIONAL INVESTMENT IN GOVERNANCE STRUCTURES, DOCUMENTED ACADEMIC AND ADMINISTRATIVE PROCESSES, FINANCIAL CONTROLS, DATA PROTECTION POLICIES, FACULTY OVERSIGHT, STUDENT SUPPORT SERVICES, AND LEARNING RESOURCE INFRASTRUCTURE. ERAU ASIA INSTITUTE, LTD. (ERAU-AI) WAS GRANTED AN INITIAL FOUR-YEAR ERF REGISTRATION UNDER THE ENHANCED REGISTRATION FRAMEWORK BY SKILLSFUTURE SINGAPORE IN FEBRUARY 2021, WHICH WAS RENEWED FOR AN ADDITIONAL FOUR-YEAR PERIOD IN FEBRUARY 2025. ERAU-AI COMMENCED INSTRUCTION IN JANUARY 2022 AND, FOLLOWING AN EXTERNAL AUDIT AND ON-SITE ASSESSMENT, WAS AWARDED A FOUR-YEAR EDUTRUST CERTIFICATION IN FEBRUARY 2023. FROM JULY 2023, ALL NEW ERAU STUDENTS IN SINGAPORE (EXCEPT THOSE JOINING GRADUATE DEGREE PROGRAMS OFFERED THROUGH A PARTNERSHIP WITH THE CIVIL AVIATION AUTHORITY OF SINGAPORE) WERE ENROLLED UNDER ERAU-AI. FROM JANUARY 2024, STUDENTS ENROLLED IN ERAU DEGREE PROGRAMS UNDER A SEPARATE PARTNERSHIP IN SINGAPORE WERE ALLOWED TO TRANSFER TO ERAU-AI. AS A RESULT, ERAU-AI NOW SERVES AS THE PRIMARY REGULATED ENTITY FOR ERAU'S PRIVATE EDUCATION OPERATIONS IN SINGAPORE. THE ESTABLISHMENT AND CERTIFICATION OF ERAU-AI PROVIDE A STABLE REGULATORY FRAMEWORK FOR ERAU'S OPERATIONS IN SINGAPORE AND SUPPORT THE UNIVERSITY'S LONG-TERM PRESENCE IN THE ASIA REGION, INCLUDING THE DELIVERY OF AVIATION AND AEROSPACE DEGREE PROGRAMS IN COMPLIANCE WITH APPLICABLE PRIVATE EDUCATION REQUIREMENTS.