Florida Institute of Technology Inc
62% goes to programs $10 to raise $100 Strong reserves
Florida Institute of Technology Inc is a 501(c)(3) organization based in Melbourne, Florida, registered in 1960, with $237,768,004 in FY2024 revenue. CharityIndex grades it B+, and it directs about 62% of spending to programs.
150 W University Blvd, Melbourne, FL, 32901 EIN 59-6046500 Since 1960
Revenue (FY2024)
$237.8M
▲ 6.9% vs prior year
Education median: $200K
Expenses (FY2024)
$216.5M
Net assets
$287.9M
Employees
2,975
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating62% to programs · $10 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Florida Institute of Technology Inc: 62% to programs · $10 to raise $100 earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating16 mo reserves · +9% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Florida Institute of Technology Inc: 16 mo reserves · +9% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Florida Institute of Technology Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Florida Institute of Technology Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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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.
What they do
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.
Contact & location
- Address
- 150 W University Blvd, Melbourne, FL, 32901
- City
- Melbourne
- State
- Florida
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $201.6M (FY2013) to $237.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $143.4MNet assets $287.9M
Operating margin
8.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$431.3M
Total liabilities
$143.4M
Net assets
$287.9M
Salaries & benefits
$120.6M
56% of expenses
Board members
17
16 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $237,768,004▲6.9% | $216,516,225▲5.5% | $287,932,236▲8.2% | $431,304,510▲5.4% | 990 |
| 2023 | $222,506,045▲5.1% | $205,194,552▲5.0% | $266,083,103▲9.2% | $409,277,325▲4.3% | 990 |
| 2022 | $211,689,614▼0.1% | $195,508,670▲9.3% | $243,586,244▲10.5% | $392,515,019▲7.2% | 990 |
| 2021 | $211,905,030▲10.7% | $178,859,614▼0.6% | $220,432,152▲3.1% | $365,997,588▼3.7% | 990 |
| 2020 | $191,425,099▼1.2% | $179,874,014▼1.1% | $213,857,782▲20.1% | $380,099,144▲12.3% | 990 |
| 2019 | $193,652,576▼1.8% | $181,795,614▼2.3% | $178,068,993▲3.4% | $338,516,450▲30.0% | 990 |
| 2018 | $197,104,830▲2.7% | $185,993,835▲0.8% | $172,144,402▲8.4% | $260,379,597▲3.4% | 990 |
| 2017 | $191,847,243▲2.5% | $184,590,033▲0.9% | $158,791,144▲5.9% | $251,711,555▲6.6% | 990 |
| 2016 | $187,158,249▼4.3% | $182,977,759▼9.0% | $149,945,075▲6.1% | $236,127,260▲3.3% | 990 |
| 2015 | $195,642,332▼6.0% | $201,072,470▲0.4% | $141,383,925▼7.4% | $228,573,754▼6.8% | 990 |
| 2014 | $208,178,592▲3.3% | $200,241,651▲10.1% | $152,697,703▲5.4% | $245,298,374▲6.0% | 990 |
| 2013 | $201,573,754 | $181,848,509▼38.4% | $144,937,593▲18.6% | $231,500,454▲14.1% | 990 |
| 2012 | — | $295,308,667▲5.0% | $122,173,559▲6.8% | $202,846,583▲6.0% | 990 |
| 2011 | — | $281,349,502▲10.8% | $114,408,359▲8.0% | $191,375,680▲0.5% | 990 |
| 2010 | — | $253,959,286 | $105,970,475 | $190,430,858 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Dr John Nicklow — $730,067 (0.34% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr John Nicklow | President | 40 | $730,067 |
| Marco Carvalho | Executive Di | 40 | $386,986 |
| John Harris | Dean | 40 | $351,584 |
| Hamid Rassoul | Sr. Assoc. P | 40 | $323,013 |
| Ratan Jha | Professor | 40 | $270,194 |
| John Kiss | Svp Academic | 40 | $254,571 |
| Linxia Gu | Dept. Head/p | 40 | $236,847 |
| Brian Ehrlich | Vp Enrollmen | 40 | $224,156 |
| Wes Summer | Vp External | 40 | $220,160 |
| Cassie Pericak | Vp of Philan | 40 | $215,574 |
| Amanda Moske | Chief Data O | 40 | $177,603 |
| Dr Raymond A Armstrong | Trustee Emer | 2 | — |
| Dr Richard N Baney | Trustee Emer | 2 | — |
| Dr Rita H Cheng | Trustee | 2 | — |
| Mr Alan L Prestwood | Trustee | 2 | — |
| Mr Dale A Dettmer | Trustee | 2 | — |
| Mr D Travis Proctor | Trustee | 2 | — |
| Mr Frank Dibello | Trustee | 2 | — |
| Mr James E Pruitt | Trustee Emer | 2 | — |
| Mr Joesph Caruso | Trustee Emer | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Aba Technologies Inc | Online Ed. | $11,374,671 |
| Us Food Inc | Food Services | $3,080,472 |
| National Management Resources Corp | Janitorial | $2,958,762 |
| Bisk Education Inc | Online Ed. | $2,739,398 |
| Mh Williams Construction Group Inc | Construction | $1,943,703 |
Grants received · $7.7M total
119 grants to Florida Institute of Technology Inc totaling $7.7M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Lettie Pate Whitehead Foundation Inc | For general scholarship support. | 2024 | $244,000 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $65,000 |
| American Online Giving Foundation Inc | General support | 2024 | $62,708 |
| Hispanic Scholarship Fund | To provide scholarships for students | 2024 | $22,720 |
| Charities Aid Foundation America | Charitable donation | 2024 | $14,353 |
| West Virginia University Research Corporation | Research | 2023 | $609,001 |
| Lettie Pate Whitehead Foundation Inc | For general scholarship support. | 2023 | $244,000 |
| American Heart Association Inc | Research | 2023 | $221,388 |
| American Online Giving Foundation Inc | General support | 2023 | $84,005 |
| National Collegiate Athletic Association | Grants/scholarships | 2023 | $44,641 |
| National Philanthropic Tr | Religion | 2023 | $32,000 |
| Johns Hopkins University | Sub-award | 2023 | $29,637 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2023 | $25,000 |
| Cornell University | Research | 2023 | $24,403 |
| Charities Aid Foundation America | Charitable donation | 2023 | $20,561 |
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Frequently asked questions
- Is Florida Institute of Technology Inc a legitimate nonprofit?
- Yes. Florida Institute of Technology Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 59-6046500, based in Melbourne, Florida. Donations are tax-deductible.
- What is Florida Institute of Technology Inc's EIN?
- Florida Institute of Technology Inc's Employer Identification Number (EIN) is 59-6046500.
- How much revenue does Florida Institute of Technology Inc report?
- Florida Institute of Technology Inc reported $237,768,004 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Florida Institute of Technology Inc's spending goes to programs?
- Florida Institute of Technology Inc spends about 62% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Florida Institute of Technology Inc have?
- CharityIndex grades Florida Institute of Technology Inc B+, based on program efficiency and fundraising cost.
- How much does Florida Institute of Technology Inc's highest-paid employee make?
- The highest reported compensation on Florida Institute of Technology Inc's latest Form 990 is $730,067, paid to Dr John Nicklow (President).
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Data for Florida Institute of Technology Inc (EIN 59-6046500) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.