Embry-Riddle Aeronautical University Inc

“Prior to filing, the form 990 is reviewed by the senior vice president/cfo and independent tax accountants. All members of the board of trustees are provided an electronic copy of the complete form prior to filing with the irs.”

“Erau's internal audit, risk and compliance department annually issues and receives conflict of interest disclosure forms from erau employees and the board of trustees. Actual or potential conflicts of interest are reviewed, evaluated and monitored by erau's vice president and general counsel. Conflicts involving erau employees are either resolved or forwarded to human resources and the particular employee's supervisory chain of commmand for disciplinary action for an unresolved conflict of interest.”

“For the president and other key employees (erau's senior vice presidents, campus chancellors, the provost, and general counsel), an independent search consultant is typically retained. Salary data from comparable institutions are used in the determination of an initial salary range. The compensation offer is based on that range and the candidate's specific credentials and experience. Additionally, the president is required to approve any salary over $200,000. For annual changes to the president's compensation, the board chair considers information from various sources such as the chronicle of higher education, college and university professional association hr (cupa-hr), and other institutions in the state of florida. The board chair reviews the president's performance with the executive committee of the board and determines any changes in compensation. For other key employees, the president conducts an annual evaluation based on expected performance metrics. Based on the performance assessment and a review of publicly available salary data for similar executive positions in higher education, the president develops compensation recommendations that are shared with the board chair. The board chair and the president discuss each recommendation. The board chair often incorporates additional higher education compensation data and then consults with the board's executive committee. The meetings are documented in an agenda and the president retains the relevant information.”

“Erau makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The form 990 and audited consolidated financial statements are disclosed on erau's website.”

“Postage & shipping: program service expenses 555,076. Management and general expenses 220,215. Fundraising expenses 15,652. Total expenses 790,943. Loss on disposals: program service expenses 456,130. Management and general expenses 35,730. Fundraising expenses 0. Total expenses 491,860.”

“Change in value of split interest agreement -8,405.”