F I T STUDENT HOUSING CORPORATION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- F I T STUDENT HOUSING CORPORATION (EIN 13-3263493)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-04-14
- IRS object ID
- 202211049349300916
- Schema version
- 2020v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-04-14T09:52:26-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 135565207 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 S HOPE STREET | AddressLine1Txt |
| City | LOS ANGELES | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90071 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133263493 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIT STUDENT HOUSING CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FITS | BusinessNameControlTxt |
| Phone | 2122173603 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST 27TH STREET | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SHERRY BRABHAM | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 2122173603 | PhoneNum |
| Signature | 2022-04-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | SHERRY | PersonFirstNm |
| Person Last | BRABHAM | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DAVID M HIGHFILL | PreparerPersonNm |
| PTIN | P01517891 | PTIN |
| Phone | 2139724000 | PhoneNum |
| Preparation | 2022-04-13 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DR JOYCE F BROWN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST 27TH STREET | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $43,495,233 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.FITNYC.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1982 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE MANAGEMENT SERVICES AND OPERATION OF DORMITORY FACILITIES FOR STUDENTS OF FIT. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 58 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $6,667,181 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $28,161,241 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,112,179 | CYProgramServiceRevenueAmt |
| PY Investment Income | $520,973 | PYInvestmentIncomeAmt |
| CY Investment Income | $86,783 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $28,682,214 | PYTotalRevenueAmt |
| CY Total Revenue | $10,866,143 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,073,119 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,197,295 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $30,942,646 | PYOtherExpensesAmt |
| CY Other Expenses | $22,989,820 | CYOtherExpensesAmt |
| PY Total Expenses | $33,015,765 | PYTotalExpensesAmt |
| CY Total Expenses | $24,187,115 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$4,333,551 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$13,320,972 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $160,932,136 | TotalAssetsBOYAmt |
| Total Assets EOY | $174,398,361 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $119,237,834 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $146,044,374 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $41,694,302 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $28,353,987 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO OWN AND OPERATE DORMITORY FACILITIES FOR THE FASHION INSTITUTE OFTECHNOLOGY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $22,624,831 | ExpenseAmt |
| Revenue | $6,667,181 | RevenueAmt |
| Desc | FIT STUDENT HOUSING CORPORATION OPERATES AND MANAGES THE DORMITORY FACILITIES FOR THE FASHION INSTITUTE OF TECHNOLOGY. | Desc |
| Total Program Service Expenses | $22,624,831 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | Yes (1) | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | Yes (1) | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 5 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 58 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SHELCI J GRAHAM | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2122173617 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST 27TH STREET | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| ROBIN BURNS-MCNEILL | ||||||||
| CHAIR | 1.00 | 3.00 | Yes (X) | $0 | $0 | $0 | ||
| JAQUI LIVIDINI | ||||||||
| VICE CHAIR | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| RICHARD A ANDERMAN | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JUDITH I BYRD | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| YAZ HERNANDEZ | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JOAN B HORNIG | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BEVERLY S MACK | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ELIZABETH T PEEK | ||||||||
| TRUSTEE | 1.00 | 3.00 | Yes (X) | $0 | $0 | $0 | ||
| GABRIELLE FIALKOFF | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MONA ABOEGLNAGA KANAAN | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DEIRDRE QUINN | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT SAVAGE | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ERIC SIATHONE | ||||||||
| STUDENT TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SALLY SINGER | ||||||||
| TRUSTEE | 1.00 | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DR JOYCE F BROWN | ||||||||
| PRESIDENT | 5.00 | 30.00 | $0 | $770,211 | $160,991 | Yes (X) | ||
| SHERRY BRABHAM | ||||||||
| TREASURER | 5.00 | 30.00 | $0 | $298,419 | $69,254 | Yes (X) | ||
| STEPHEN TUTTLE | ||||||||
| SECRETARY | 5.00 | 30.00 | $0 | $290,559 | $59,412 | Yes (X) | ||
| CHRISTINA DIGGS | ||||||||
| DIRECTOR, RESIDENTIAL LIFE | 5.00 | 30.00 | $130,458 | $0 | $43,075 | Yes (X) | ||
| JEFFERY MANNING | ||||||||
| ASSISTANT DIRECTOR, RESIDENTAL | 5.00 | 30.00 | $129,045 | $0 | $22,954 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $259,503 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,359,189 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $355,686 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| UG2 | |||||
| 16 HUNGTINGTON AVENUE 12TH FLOOR | BOSTON | MA | 02116 | BUILDING MAINTENANCE | $2,046,156 |
| MILCON CONSTRUCTION CORP | |||||
| 142 DALE STREET | W BABYLON | NY | 11704 | CONSTRUCTION | $1,096,450 |
| ALLIED UNIVERSAL SECURITY SVCS | |||||
| PO BOX 828854 | PHILADELPHIA | PA | 191828854 | SECURITY SERVICES | $963,752 |
| ARAMARK CORP | |||||
| PO BOX 978839 | DALLAS | NY | 753978839 | FOOD SERVICE | $498,146 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $6,457,381 | RelatedOrganizationsAmt |
| Government Grants | $209,800 | GovernmentGrantsAmt |
| Total Contributions | $6,667,181 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| STUDENT RENTALS AND FEES | 721000 | $2,821,675 | $2,821,675 |
| FIT RENTALS | 721000 | $702,101 | $702,101 |
| MEAL PLAN INCOME | 721000 | $577,444 | $577,444 |
| LAUNDRY INCOME | 721000 | $8,140 | $8,140 |
| OTHER PROGRAM REVENUE | 721000 | $2,819 | $2,819 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,112,179 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $83,812 | TotalRevenueColumnAmt |
| Exclusion | $83,812 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $32,632,061 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $32,629,090 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,971 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,971 | TotalRevenueColumnAmt |
| Exclusion | $2,971 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,866,143 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,112,179 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $86,783 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $784,313 | TotalAmt |
| Program Services | $593,475 | ProgramServicesAmt |
| Management And General | $190,838 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,654 | TotalAmt |
| Program Services | $50,436 | ProgramServicesAmt |
| Management And General | $16,218 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $287,089 | TotalAmt |
| Program Services | $217,235 | ProgramServicesAmt |
| Management And General | $69,854 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,239 | TotalAmt |
| Program Services | $44,825 | ProgramServicesAmt |
| Management And General | $14,414 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $605,004 | TotalAmt |
| Management And General | $605,004 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,210 | TotalAmt |
| Management And General | $39,210 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $103,659 | TotalAmt |
| Management And General | $103,659 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,532,492 | TotalAmt |
| Program Services | $1,467,080 | ProgramServicesAmt |
| Management And General | $65,412 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,000 | TotalAmt |
| Program Services | $116,000 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,088,886 | TotalAmt |
| Program Services | $8,088,886 | ProgramServicesAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,346 | TotalAmt |
| Program Services | $19,346 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,094,578 | TotalAmt |
| Program Services | $8,094,578 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $457,620 | TotalAmt |
| Management And General | $457,620 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| CONTRACT LABOR | $2,302,899 | $2,302,899 | |
| SECURITY | $945,572 | $945,572 | |
| FOOD CONTRACT | $684,499 | $684,499 | |
| BANK CHARGES | $55 | $55 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,187,115 | TotalAmt |
| Program Services | $22,624,831 | ProgramServicesAmt |
| Management And General | $1,562,284 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,545,856 | BOYAmt |
| EOY | $13,148,184 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,002,961 | BOYAmt |
| EOY | $4,406 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $216,059 | BOYAmt |
| EOY | $133,605 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $233,153,974 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $120,238,688 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $119,452,112 | BOYAmt |
| EOY | $112,915,286 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,715,148 | BOYAmt |
| EOY | $48,196,880 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,932,136 | BOYAmt |
| EOY | $174,398,361 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,276,982 | BOYAmt |
| EOY | $2,446,656 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,664 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,397,541 | BOYAmt |
| EOY | $133,031,645 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,548,647 | BOYAmt |
| EOY | $10,566,073 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $119,237,834 | BOYAmt |
| EOY | $146,044,374 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,217,747 | BOYAmt |
| EOY | $10,806,206 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,476,555 | BOYAmt |
| EOY | $17,547,781 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,694,302 | BOYAmt |
| EOY | $28,353,987 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,932,136 | BOYAmt |
| EOY | $174,398,361 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$13,320,972 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$19,343 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $6,667,181 | CurrentTaxYearAmt |
| Total | $6,667,181 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $34,350,744 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $34,190,862 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $34,315,128 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $28,161,241 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,112,179 | CurrentTaxYearAmt |
| Total | $135,130,154 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $34,350,744 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $34,190,862 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $34,315,128 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $28,161,241 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $10,779,360 | CurrentTaxYearAmt |
| Total | $141,797,335 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $141,797,335 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $414,246 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $497,931 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $558,170 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $568,409 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $83,812 | CurrentTaxYearAmt |
| Total | $2,122,568 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $414,246 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $497,931 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $558,170 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $568,409 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $83,812 | CurrentTaxYearAmt |
| Total | $2,122,568 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $34,764,990 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $34,688,793 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $34,873,298 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $28,729,650 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $10,863,172 | CurrentTaxYearAmt |
| Total | $143,919,903 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.98530 | PublicSupportCY509Pct |
| Public Support PY509 | 0.98620 | PublicSupportPY509Pct |
| Investment Income CY | 0.01470 | InvestmentIncomeCYPct |
| Investment Income PY | 0.01380 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,408,700 | OtherCostOrOtherBasisAmt |
| Book Value | $12,408,700 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $62,341,610 | OtherCostOrOtherBasisAmt |
| Depreciation | $37,578,586 | DepreciationAmt |
| Book Value | $24,763,024 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $146,491,739 | OtherCostOrOtherBasisAmt |
| Depreciation | $70,758,254 | DepreciationAmt |
| Book Value | $75,733,485 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,911,925 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,901,848 | DepreciationAmt |
| Book Value | $10,077 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $112,915,286 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| HELD BY BOND TRUSTEE (DASNY) | $41,713,586 |
| DEFERRED AMOUNT ON REFUNDING | $4,850,906 |
| PREPAID BOND INSURANCE | $1,408,720 |
| DEFERRED AMOUNT (OPEB) | $223,668 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $48,196,880 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| AFFILIATE LOAN PAYABLE (FIT) | $7,474,123 |
| BOND INTEREST PAYABLE | $2,834,950 |
| DEFERRED AMOUNT (OPEB) | $257,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $10,566,073 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $10,846,800 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$19,343 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$19,343 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,866,143 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,866,143 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $24,187,115 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $24,187,115 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $24,187,115 | TotalExpensesPerForm990Amt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DR JOYCE F BROWN | ||||||||||||||
| PRESIDENT | $0 | $738,611 | $0 | $0 | $0 | $31,600 | $0 | $47,187 | $0 | $113,804 | $0 | $931,202 | $0 | $0 |
| SHERRY BRABHAM | ||||||||||||||
| TREASURER | $0 | $298,419 | $0 | $0 | $0 | $0 | $0 | $37,050 | $0 | $32,204 | $0 | $367,673 | $0 | $0 |
| STEPHEN TUTTLE | ||||||||||||||
| SECRETARY | $0 | $290,559 | $0 | $0 | $0 | $0 | $0 | $27,208 | $0 | $32,204 | $0 | $349,971 | $0 | $0 |
| CHRISTINA DIGGS | ||||||||||||||
| DIRECTOR, RESIDENTIAL LIFE | $130,458 | $0 | $0 | $0 | $0 | $0 | $10,871 | $0 | $32,204 | $0 | $173,533 | $0 | $0 | $0 |
| JEFFERY MANNING | ||||||||||||||
| ASSISTANT DIRECTOR, RESIDENTAL | $129,045 | $0 | $0 | $0 | $0 | $0 | $10,376 | $0 | $12,578 | $0 | $151,999 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PART I, LINE 3 | METHODS USED TO DETERMINE COMPENSATION THE CEO/EXECUTIVE DIRECTOR OF THE FILING ORGANIZATION IS COMPENSATED BY A RELATED ORGANIZATION, FASHION INSTITUTE OF TECHNOLOGY (FIT). FIT UTILIZES A COMPENSATION STUDY AND BOARD APPROVAL WHEN DETERMINING COMPENSATION. |
| SCHEDULE J, PART I, LINE 4B | FIT FUNDS AN ANNUITY ON BEHALF OF THE PRESIDENT. OTHER REPORTABLE COMPENSATION IN COLUMN (B)(III) INCLUDES $25,000 FOR THE FUNDING OF THE CURRENT YEAR ANNUITY. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DORMITORY AUTHORITY OF THE STATE OF NY SERIES 2007 | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 146000293 | BondIssuerEIN |
| CUSIP | 649903LV1 | CUSIPNum |
| Bond Issued | 2007-05-31 | BondIssuedDt |
| Issue Price | $125,674,189 | IssuePriceAmt |
| Purpose | REFUNDED SERIES 2004 | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Retired | $7,915,000 | RetiredAmt |
| Total Proceeds | $125,674,189 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $1,269,892 | IssuanceCostsFromProceedsAmt |
| Credit Enhancement | $714,164 | CreditEnhancementAmt |
| Other Spent Proceeds | $123,690,133 | OtherSpentProceedsAmt |
| Substantial Completion | 2007 | SubstantialCompletionYr |
| Refunding Tax Exempt Bonds | 0 | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | Yes (1) | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | Yes (1) | MgmtContractBondFincdPropInd |
| Engage Bond Counsel Contracts | Yes (1) | EngageBondCounselContractsInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | 0 | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | Yes (1) | NoRebateDueInd |
| Variable Rate Issue | 0 | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | 0 | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | 0 | ProceduresCorrectiveActionInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE K, PART IV, LINE 2C | FormAndLineReferenceDesc |
| Explanation | NO REBATE DUE THE LAST 5 YEAR CALCULATION FOR THE 2007 BONDS WAS 6/28/2017 AND NO REBATE WAS DUE. SCHEDULE K, PART III, LINE 3A, COLUMN A & B THE MANAGEMENT CONTRACTS IN BOND FINANCED SPACE FALL UNDER THE SAFE HARBOR EXCEPTION OR ARE INCIDENTAL USE CONTRACTS. NEITHER RESULT IN PRIVATE BUSINESS USE. SCHEDULE K, PART III, LINE 9, PART IV, LINE 7 & PART V THE ORGANIZATION FOLLOWS THE POST ISSUANCE COMPLIANCE REGULATIONS REGARDING PRIVATE BUSINESS USE MONITORING, ARBITRAGE REBATE CALCULATIONS AND REMEDIAL ACTIONS AND THE VCAP PROGRAM PROVIDED BY THE IRS. HOWEVER, THEY HAVE NOT REDUCED THEIR POLICY TO A WRITTEN POLICY. THE ORGANIZATION IS IN THE PROCESS OF IMPLEMENTING WRITTEN POLICIES AS REQUIRED AND WILL HAVE THE WRITTEN POLICIES IMPLEMENTED BEFORE THE FILING OF THE NEXT FORM 990. SCHEDULE K, PART II, LINE 12 THE OTHER SPENT PROCEEDS WERE USED TO REFUND THE JUNE 2004 BOND ISSUE. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 REVIEW THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION AND IN CONSULTATION WITH THE ORGANIZATION'S STAFF. THE DRAFT PREPARED BY THE ACCOUNTING FIRM WAS THEN CAREFULLY REVIEWED BY OFFICERS OF THE ORGANIZATION. A COMPLETE COPY OF THE FINAL VERSION OF FORM 990 WAS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. QUESTIONS WERE REFERRED TO THE CHIEF FINANCIAL OFFICER FOR RESPONSES. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICTS OF INTEREST ON AN ANNUAL BASIS, DIRECTORS REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A DISCLOSURE STATEMENT. THE CONFLICT OF INTEREST POLICY AND DISCLOSURES ARE MONITORED BY GENERAL COUNSEL OF THE ORGANIZATION WITH ASSISTANCE FROM FIT'S CONTROLLER. APPROPRIATE ACTION IS TAKEN BASED ON THE NATURE OF THE CONFLICT, IF ANY ARE IDENTIFIED. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENT DISCLOSURE THE ORGANIZATION'S DOCUMENTS INCLUDING ITS APPLICATION FOR TAX EXEMPT STATUS, FORM 990, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FASHION INSTITUTE OF TECHNOLOGY | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 WEST 27TH ST | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 132556338 | EIN |
| Primary Activities | EDUCATION | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Exempt Code Section | 115 | ExemptCodeSectionTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| FASHION INSTITUTE OF TECHNOLOGY | ||
| C | $6,457,381 | CASH |
| FASHION INSTITUTE OF TECHNOLOGY | ||
| E | $7,474,123 | FMV |
| FASHION INSTITUTE OF TECHNOLOGY | ||
| M | $605,004 | FMV |
| FASHION INSTITUTE OF TECHNOLOGY | ||
| P | $457,620 | FMV |