Florida Atlantic University Foundation Inc

Nonprofit profile at a glance

EIN
590917284
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Boca Raton, FL, USA
Phone
5612972892
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$60,328,298
Expenses
$39,068,272
Assets
$499,713,646
Liabilities
$49,689,296

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • ADAM HASNER (PRESIDENT AS OF 3/5/25)
  • STACY A VOLNICK (INTERIM FAU PRESIDENT)
  • DAVID L KIAN (INTERIM CEO)
  • JOHN KELLY (FORMER FAU PRESIDENT)

Highest reported compensation

  • STACY A VOLNICK (INTERIM FAU PRESIDENT): $743,866 total reported compensation
  • DAVID L KIAN (INTERIM CEO): $577,617 total reported compensation
  • JOHN KELLY (FORMER FAU PRESIDENT): $525,239 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the Florida atlantic university foundation inc. Is to encourage, promote, and provide funds and other resources for the benefit of Florida atlantic university (a part of the Florida state university system) in furtherance of its (continued on schedule o) missions and purposes and to secure the application of these funds in the best manner adapted to the conditions of time and to the needs of fau.

What it reported doing in 2024

Provided general support to the Florida atlantic university in the form of payments such as but not limited to guest lecturers, operational and conference expenses, travel, consulting, and events.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 60
  • Accountability: 98
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 92.3%; rating input score 92
  • Fundraising efficiency: $43.48 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.7%; rating input score 96; 49th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 35.2%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 12.79; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 92.3% of spending went to programs
  • Governance: 22 of 23 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $36M in reported program spending
  • Leadership: top reported pay $744K · 27 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $106K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.