Florida Institute Of Technology Inc

Organization Overview

Florida Institute Of Technology Inc is located in Melbourne, FL. The organization was established in 1960. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Florida Institute Of Technology Inc employed 2,753 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Institute Of Technology Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Florida Institute Of Technology Inc generated $191.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $179.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

INSTRUCTION AND ACADEMIC SUPPORT THE UNIVERSITY INSTRUCTED 3,475 UNDERGRADUATE, 2,197 GRADUATE AND 525 DOCTORATE STUDENTS ON CAMPUS AND OFF CAMPUS SITES. IN ADDITION, THERE WERE 2,301 ONLINE STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS IN THE FOLLOWING FIELDS OF STUDY: ENGINEERING, SCIENCE, AERONAUTICS, PSYCHOLOGY, LIBERAL ARTS, BUSINESS, AVIATION.


STUDENT SERVICES, AUXILIARY 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 19 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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Board, Officers & Key Employees

Name (title)Compensation
Dr T Dwayne Mccay
President/ce
$713,326
Steve Englehart
Coach (thru
$492,704
Eric Kledzik
SVP (thru 4/
$350,394
Marco Carvalho
Evp/provost
$326,792
Frank Kinney
Vp/sec(thru
$286,052
Marsha Bewersdorf
Svp/cfo (thr
$285,327

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ellucian Co Lp
Software
$1,778,772
Aba Technologies Inc
Online Ed.
$7,942,327
Bisk Education Inc
Online Ed.
$7,496,944
National Management Resources Corp
Janitorial
$2,576,151
Ivey's Construction Inc
Construction
$12,215,816
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$792,542
Related organizations$0
Government grants $21,406,318
All other contributions, gifts, grants, and similar amounts not included above$5,339,573
Noncash contributions included in lines 1a–1f $167,862
Total Revenue from Contributions, Gifts, Grants & Similar$27,538,433
Total Program Service Revenue$160,259,285
Investment income $1,101,232
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $701,180
Net Gain/Loss on Asset Sales $1,675,959
Net Income from Fundraising Events $56,827
Net Income from Gaming Activities $92,183
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $191,425,099

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Florida Institute Of Technology Inc has recieved totaling $10,000.

Awarding OrganizationAmount
Balda Family Foundation Inc

Satellite Beach, FL

PURPOSE: SCHOLARSHIPS

$7,500
Dubose Foundation

Marana, AZ

PURPOSE: EDUCATION

$2,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$81,763,706
Earnings$31,021,858
Admin Expense-$511,385
Net Contributions$2,068,809
Other Expense-$5,034,180
Grants-$1,441,209
Ending Balance$107,867,599

Peer Organizations

Organization NameAssets
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Fort Lauderdale, FL
$836,787,691
Emory University
Decatur, GA
$526,678,235
Embry-Riddle Aeronautical
Daytona Beach, FL
$616,318,485
Savannah College Of Art And Design Inc
Savannah, GA
$587,003,201
The Corporation Of Mercer University
Macon, GA
$444,048,225
University Of Tampa
Tampa, FL
$426,783,303
Stetson University Inc
DeLand, FL
$288,494,091
Samford University
Birmingham, AL
$280,325,292
Barry University Inc
Miami Shores, FL
$207,474,088
Saint Leo University Inc
Saint Leo, FL
$167,609,731
Florida Institute Of Technology Inc
Melbourne, FL
$191,425,099
Jacksonville University
Jacksonville, FL
$172,045,418

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