FLORIDA INSTITUTE OF TECHNOLOGY INC Charity Report

Public IRS 990 nonprofit record

FLORIDA INSTITUTE OF TECHNOLOGY INC

EIN 59-6046500 · Education (B430)

What they do

FLORIDA INSTITUTE of TECHNOLOGYS 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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $61.60 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders33 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

56.10%of revenue went to mission work61.6% of expenses · Program services

1.07%of revenue went to fundraising1.2% of expenses

$91.06spent for every $100 of revenueRevenue covered expenses this year.

33.89%of revenue went to management and office costs37.2% of expenses

$1.99in assets for every $1 spent this yearSome assets cannot be spent right away.

10.3%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $753,237 for DR JOHN NICKLOW (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$237,768,004

Mission workProgram services$133,387,06656.10% of revenue61.6% of expenses

ManagementOffice and general costs$80,583,93033.89% of revenue37.2% of expenses

FundraisingAsking for donations$2,545,2291.07% of revenue1.2% of expenses

Revenue left after expensesReported annual surplus$21,251,7798.94% of revenueShown in gray on the chart

Total expenses$216,516,22591.06% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 61.6% mission · 37.2% management · 1.2% fundraisingTotal expenses: 91.06% of revenue

2023Expense mix: 58.6% mission · 39.9% management · 1.5% fundraisingTotal expenses: 92.22% of revenue

2022Expense mix: 68.9% mission · 29.5% management · 1.6% fundraisingTotal expenses: 92.36% of revenue

2021Expense mix: 75.8% mission · 22.0% management · 2.3% fundraisingTotal expenses: 84.41% of revenue

2020Expense mix: 72.8% mission · 24.7% management · 2.5% fundraisingTotal expenses: 93.97% of revenue

2019Expense mix: 82.1% mission · 14.7% management · 3.2% fundraisingTotal expenses: 93.88% of revenue

2018Expense mix: 83.3% mission · 14.0% management · 2.7% fundraisingTotal expenses: 94.36% of revenue

2017Expense mix: 82.1% mission · 15.6% management · 2.2% fundraisingTotal expenses: 96.22% of revenue

Money in and money out

Revenue$237,768,004

Expenses$216,516,225

Annual surplus $21,251,779 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$133,387,066 · 61.6% of expenses

Management and office costs$80,583,930 · 37.2% of expenses

Fundraising$2,545,229 · 1.2% of expenses

See all reported dollar amounts

Revenue$237,768,004

Expenses$216,516,225

Assets$431,304,510

Income$389,798,545

Contributions$24,529,230

Mission work (program services)$133,387,066

Fundraising$2,545,229

Management and general$80,583,930

Accounting fees$313,860

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

DR JOHN NICKLOWPRESIDENT · 40 hrs/week $753,237Base $730,067 · Other $23,170

MARCO CARVALHOEXECUTIVE DI · 40 hrs/week $411,928Base $386,986 · Other $24,942

JOHN HARRISDEAN · 40 hrs/week $377,384Base $351,584 · Other $25,800

HAMID RASSOULSR. ASSOC. P · 40 hrs/week $346,673Base $323,013 · Other $23,660

RATAN JHAPROFESSOR · 40 hrs/week $289,355Base $270,194 · Other $19,161

JOHN KISSSVP ACADEMIC · 40 hrs/week $270,681Base $254,571 · Other $16,110

LINXIA GUDEPT. HEAD/P · 40 hrs/week $250,545Base $236,847 · Other $13,698

BRIAN EHRLICHVP ENROLLMEN · 40 hrs/week $244,962Base $224,156 · Other $20,806

WES SUMMERVP EXTERNAL · 40 hrs/week $239,465Base $220,160 · Other $19,305

CASSIE PERICAKVP OF PHILAN · 40 hrs/week $227,699Base $215,574 · Other $12,125

AMANDA MOSKECHIEF DATA O · 40 hrs/week $192,726Base $177,603 · Other $15,123

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (33)

DR JOHN NICKLOWPRESIDENT

MARCO CARVALHOEXECUTIVE DI

JOHN HARRISDEAN

HAMID RASSOULSR. ASSOC. P

RATAN JHAPROFESSOR

JOHN KISSSVP ACADEMIC

LINXIA GUDEPT. HEAD/P

BRIAN EHRLICHVP ENROLLMEN

WES SUMMERVP EXTERNAL

CASSIE PERICAKVP OF PHILAN

AMANDA MOSKECHIEF DATA O

DR RICHARD N BANEYTRUSTEE EMER

DR RAYMOND A ARMSTRONGTRUSTEE EMER

MS KIRSTEN DREGGORSTRUSTEE

MS JILL A EANESTRUSTEE

MS BOBBIE DYERTRUSTEE

MRS KELLE B WENDLINGTRUSTEE

MRS ELIZABETH J SWANNTRUSTEE

MR WILLIAM R MUNSTRUSTEE

MR WILLIAM J GUYANTRUSTEE

MR WILLIAM C POTTERTRUSTEE EMER

MR ROBERT L PHEBUSTRUSTEE

MR RICHARD P MCNEIGHTTRUSTEE

MR MICHAEL SCAFATITRUSTEE

MR KENDALL T MOORETRUSTEE

MR JOSEPH M FLAMMIOTRUSTEE EMER

MR JOESPH CARUSOTRUSTEE EMER

MR JAMES E PRUITTTRUSTEE EMER

MR FRANK DIBELLOTRUSTEE

MR DALE A DETTMERTRUSTEE

MR D TRAVIS PROCTORTRUSTEE

MR ALAN L PRESTWOODTRUSTEE

DR RITA H CHENGTRUSTEE

About this charity

Recognized since: January 1960
Location: 150 W UNIVERSITY BLVD, MELBOURNE, FL 32901-8995
County: Brevard
In care of: KIMBERLY WILLIAMS
Primary officer: KIMBERLY WILLIAMS, CFO

How to reach them

WebsiteVisit the charity’s website Phone(321) 662-7297 Officer phone(321) 674-7342

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: DOEREN MAYHEW
NTEE classification: Education (B430)