2022-05-11T09:18:04-05:00 2021-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2020-07-01 111788788 NEW YORK INSTITUTE OF TECHNOLOGY NEWY 5166867915 NORTHERN BLVD GERRY HOUSE NO 200 OLD WESTBURY NY 11568 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 5166867915 2021-11-04 1 BARBARA HOLAHAN XXX-XX-XXXX SCOTT THOMPSETT P00741490 2125990100 2021-11-04 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z HENRY FOLEY PHD NORTHERN BLVD GERRY HOUSE OLD WESTBURY NY 11568 387376939 0 X WWW.NYIT.EDU X 1955 NY WE ARE COMMITTED TO EDUCATING THE NEXT GENERATION OF LEADERS AND INSPIRING INNOVATION. (SEE SCH O) 16 15 2785 0 1164372 0 7966318 14922484 306027704 305150859 3607242 2937473 2642694 2267337 320243958 325278153 66574908 67184119 0 0 141832014 157612604 0 0 1715745 92501187 97332139 300908109 322128862 19335849 3149291 278903089 405132037 118069506 224914817 160833583 180217220 X NEW YORK INSTITUTE OF TECHNOLOGY (NYIT) OFFERS VARIOUS DEGREE PROGRAMS, INCLUDING UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES, IN MORE THAN 50 FIELDS OF STUDY, INCLUDING ARCHITECTURE AND DESIGN; ARTS AND SCIENCES; (CONTINUED ON SCHEDULE O) 0 0 302657994 67184119 302213193 SEE SCHEDULE O 4293072 0 2937666 SEE SCHEDULE O 306951066 1 1 0 1 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 239 0 1 2785 1 1 1 1 EG CA BA AE 0 0 0 0 0 0 0 0 1 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X BARBARA HOLAHAN 5166867555 NORTHERN BLVD GERRY HOUSE RM 200 OLD WESTBURY NY 11568 DR HENRY FOLEY PRESIDENT 60.00 0.00 X X 1115816 0 104679 KEVIN D SILVA CHAIRPERSON/TRUSTEE (AS OF 06/21) 5.00 0.00 X X 0 0 0 PETER J ROMANO VICE CHAIR/CHAIRPERSON (AS OF 06/21) 5.00 0.00 X X 0 0 0 MICHAEL J MERLO VICE CHAIR 5.00 0.00 X X 0 0 0 CATHERINE ALLEN TRUSTEE 5.00 0.00 X 0 0 0 PHILLIP FASANO TRUSTEE 5.00 0.00 X 0 0 0 PETER FERENTINOS TRUSTEE 5.00 0.00 X 0 0 0 DAN FERRARA TRUSTEE/VICE CHAIR (AS OF 06/21) 5.00 0.00 X X 0 0 0 ITZHAK FISHER TRUSTEE (THRU 05/21) 5.00 0.00 X 0 0 0 HENRY IERVOLINO TRUSTEE 5.00 0.00 X 0 0 0 TED MOUDIS TRUSTEE 5.00 0.00 X 0 0 0 MONTE N REDMAN TRUSTEE 5.00 0.00 X 0 0 0 ROGER SAWHNEY TRUSTEE 5.00 0.00 X 0 0 0 DEBORAH VERDERAME MARCIANO TRUSTEE 5.00 0.00 X 0 0 0 CAROLINE WATTEEUM TRUSTEE 5.00 0.00 X 0 0 0 ROBERT A WILD ESQ TRUSTEE 5.00 0.00 X 0 0 0 ANDREW BERNER TRUSTEE (AS OF 06/21) 5.00 0.00 X 0 0 0 CATHERINE FLICKINGER VP HR, GEN COUNSEL & SECRETARY 40.00 0.00 X 468451 0 54916 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 40.00 0.00 X 451129 0 60359 EILEEN VALERIO CONTROLLER & ASST. TREASURER 40.00 0.00 X 206565 0 58715 JERRY BALENTINE EXECUTIVE VP & COO 40.00 0.00 X 671603 0 62059 JUNIUS GONZALES PROVOST & VP ACADEMIC AFFAIRS 40.00 0.00 X 551272 0 32317 NICOLE WADSWORTH DEAN NYITCOM 40.00 0.00 X 347835 0 56459 JOSEPH POSILLICO VP FOR ENROLLMENT MANAGEMENT 40.00 0.00 X 335130 0 57616 SUZANNE MUSHO VP OF REAL ESTATE DEV & SUST CAP 40.00 0.00 X 329904 0 0 BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 40.00 0.00 X 299617 0 71435 SHANE SPEIGHTS SITE DEAN NYITCOM 40.00 0.00 X 426279 0 60135 NADA ASSAF-ANID VP STRATEGIC COMM./EXT AFFAIRS 40.00 0.00 X 401177 0 50928 PATRICK MINSON VP DEV. & ALUMNI RELATIONS 40.00 0.00 X 353692 0 59229 PENNIE TURGEON VP OF IT & CIO 40.00 0.00 X 325007 0 20430 ANTHONY GERDES PROFESSOR 40.00 0.00 X 315009 0 51928 6598486 0 801205 320 0 1 0 HELLMAN CONSTRUCTION CO INC 79 WATER MILL LANE GREAT NECK NY 11021 CONSTRUCTION 2669592 UNIVERSAL PROTECTION SERVICE LP 50 JACKSON AVE SYOSSET NY 11791 SECURITY 2394342 ACSYS INC 1577 NEW BRITIAN AVE FARMINGTON CT 06032 ADVERTISING 2160035 H2M ARCHITECTS ENGINEERS LAND SURVEYING 538 BROADHOLLOW ROAD MELVILLE NY 11747 CONSTRUCTION 1020864 CANON FINANCIAL SERVICES INC 158 GAITHER DRIVE MT LAUREL TOWNSHIP NJ 08054 FINANCIAL SERVICES 548656 103 X 11636815 3285669 14922484 TUITION AND FEES 611600 293548592 293548592 STUDENT INSUR. PREM. 900099 5335667 5335667 MEDICAL OUTREACH CENT. 611600 3292395 3292395 ROOM AND BOARD 900099 2142032 2142032 ANCILLARY STUDENT SERV 721310 832173 832173 305150859 4151321 -3202 4154523 211548 0 211548 211548 211548 60884938 58863645 3235141 2021293 -3235141 -1213848 -1213848 DESEVERSKY CONF CENTER 900099 1167574 1167574 MISCELLAENOUS REVENUE 900099 566615 566615 STUDENT DINING 900099 321600 321600 2055789 325278153 305150859 1164372 4040438 76716 76716 67107403 67107403 2199339 2111365 87974 113071765 107880322 4499816 691627 7076314 6752219 281637 42458 25445354 24279957 1012725 152672 9819832 9370084 390829 58919 963860 963860 326435 326435 69700 69700 264160 264160 7945579 7144051 801528 2068877 1510688 149079 409110 8433011 8053083 161714 218214 34814586 33422003 1392583 631093 569636 23735 37722 1012258 913682 38070 60506 899138 865032 34106 17364214 16668725 695489 8903413 8502759 356137 44517 EQUIP. RENTAL & MAINT. 4537175 4355683 181492 HOSPITAL ROTATIONS 3638690 3492779 145911 RECRUITING EXPENSES 2067728 2067728 REAL ESTATE TAXES 1614432 1614432 1777790 1737451 40339 322128862 306951066 13462051 1715745 32936079 39492679 4249200 4944410 12744741 10035459 3473351 3822440 360171287 228397907 132320278 131773380 71403981 86251951 18185149 20329709 3590310 108482009 278903089 405132037 42578719 36679594 22029475 26477201 32360729 22476104 21100583 139281918 118069506 224914817 X 148893482 166861015 11940101 13356205 160833583 180217220 278903089 405132037 X 3149291 15761359 472987 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 69700 69700 0 PART II-B, LINE 1: THE INSTITUTE DOES NOT ENGAGE IN ANY DIRECT LOBBYING ACTIVITY ITSELF; HOWEVER, THE INSTITUTE HAS ENGAGED A THIRD PARTY CONSULTANT TO ADVOCATE ON VARIOUS EDUCATIONAL ISSUES AND TO COLLABORATE WITH KEY POLICYMAKERS IN THE EXECUTIVE AND THE STATE LEGISLATURE ON ISSUES IMPORTANT TO THE INSTITUTE. THIS CONSULTANT WAS PAID $69,700 IN FISCAL YEAR 2021. IN ADDITION, THE INSTITUTE IS A DUES-PAYING MEMBER IN VARIOUS HIGHER EDUCATION MEMBERSHIP ORGANIZATIONS (E.G. - NACUBO). A PORTION OF THESE MEMBERSHIP DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES (BUT HAS NOT BEEN QUANTIFIED FOR SCHEDULE C PURPOSES). X 1 32.00 1 1 1 0 0 84815425 182783 21085597 257269 4679323 244377 100902836 87908924 171783 105408 257269 2926334 187087 84815425 85438132 4774035 2316324 308264 4084024 227279 87908924 110508940 1332294 -387743 9000 188167 111256324 103378802 283301 7216653 21000 348816 110508940 0.89137 0.05613 0.05250 0 0 4798838 4798838 18247250 225384372 147619878 96011744 101688189 77276355 24411834 10052638 3501674 6550964 131773380 PRIVATE EQUITY 11265876 F HEDGE FUNDS 8735310 F EQUITY FUNDS 328523 F 20329709 OPERATING RIGHT-OF-USE ASSETS 107055029 OTHER ASSETS 1426980 108482009 OPERATING RIGHT-OF-USE LEASE OBLIGATION 122492636 REFUNDABLE GRANTS AND US GOVERNMENT LOAN FUNDS 9635949 POST-RETIREMENT HEALTH BENEFIT 7153333 139281918 X 274461521 15761359 -66313831 -50552472 325013993 264160 264160 325278153 253142867 0 253142867 264160 68721835 68985995 322128862 PART II, LINE 9: CONSERVATION EASEMENT NYIT REPORTS CONSERVATION EASEMENTS ON THE BALANCE SHEET AS INVESTMENTS IN REAL ESTATE AT FAIR VALUE. THE INSTITUTE'S AUDITED FINANCIAL STATEMENTS DO NOT INCLUDE A FOOTNOTE DESCRIBING ITS ACCOUNTING FOR CONSERVATION EASEMENTS. PART V, LINE 4: USE OF ENDOWMENT FUNDS THE INSTITUTE'S ENDOWMENT CONSISTS OF A BOARD-DESIGNATED QUASI-ENDOWMENT, PLUS 46 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF RESTRICTED AND DESIGNATED PURPOSES. INCOME GENERATED BY THE RESTRICTED ENDOWMENT FUNDS ARE USED PRIMARILY TO SUPPORT SCHOLARSHIPS AND OTHER PURPOSES IN LINE WITH ORIGINAL DONOR INTENTIONS. INCOME FROM THE QUASI-ENDOWMENT IS GENERALLY USED TO SUPPORT THE ANNUAL OPERATING BUDGET, BUT THE BOARD MAY ELECT TO WITHDRAW QUASI-ENDOWMENT PRINCIPAL TO FUND CAPITAL EXPENDITURES AND OTHER INSTITUTE PROJECTS. PART IX, RIGHT-OF-USE ASSETS, LINES 3 AND 4: THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") IMPLEMENTED A NEW LEASE ACCOUNTING STANDARD THAT BECAME EFFECTIVE FOR NEW YORK INSTITUTE OF TECHNOLOGY IN THE YEAR ENDING JUNE 30, 2021. THIS ACCOUNTING STANDARD WAS EFFECTUATED TO IMPROVE THE TRANSPARENCY SURROUNDING KEY INFORMATION PERTAINING TO AN EXEMPT ORGANIZATION'S LEASING ARRANGEMENTS (AND TO ENSURE THAT ALL ORGANIZATIONS WERE RECORDING THE TRANSACTIONS UNIFORMLY ON THEIR BALANCE SHEETS). THE INCREASE IN ASSETS AND LIABILITIES REPORTED ON THE INSTITUTE'S BALANCE SHEET IS A FUNCTION OF THE INSTITUTE COMPLYING WITH THE NEW ACCOUNTING PRONOUNCEMENT. THE INSTITUTE HAS BOOKED A RIGHT-OF-USE ASSET (AND CORRESPONDING LIABILITY) ON ITS BALANCE SHEET IN EXCESS OF $100M. PART X, LINE 2: FIN 48 (ASC 740) - INCOME TAX THE INSTITUTE FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE INSTITUTE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE INSTITUTE HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE INSTITUTE HAS NOT RECORDED A PROVISION FOR INCOME TAXES AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS -67,107,403. PRIOR PERIOD ADJUSTMENT 793,572. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 67,107,403. OTHER REAL ESTATE COSTS 1,614,432. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION THE NEW YORK INSTITUTE OF TECHNOLOGY PUBLISHES ITS STATEMENT OF NON-DISCRIMINATION ON ITS WEBSITE AT HTTP://WWW.NYIT.EDU/ABOUT/STATEMENT_ON_NON_DISCRIMINATION. IN ADDITION, THE INSTITUTE'S POLICY IS PUBLISHED IN A CATALOG THAT IS MADE AVAILABLE TO ALL STUDENTS ONLINE AND IN ALL PHYSICAL BROCHURES SENT TO STUDENTS. FINALLY, THE INSTITUTE ENSURES THAT THE POLICY IS INCLUDED WITHIN APPLICABLE ADVERTISING MATERIALS. GOVERNMENT AID THE NEW YORK INSTITUTE OF TECHNOLOGY RECEIVES GOVERNMENTAL FUNDING FROM THE FOLLOWING THREE NEW YORK STATE PROGRAMS: 1. HIGH NEEDS NURSING PROGRAM 2. BUNDY AID 3. HIGHER EDUCATION OPPORTUNITY PROGRAM THESE PROGRAMS ENABLE THE INSTITUTE TO PROVIDE STUDENT SCHOLARSHIPS AND TO SUPPORT RESEARCH EFFORTS. IN ADDITION, THE INSTITUTE RECEIVED APPROXIMATELY $8.8M IN HIGHER EDUCATION EMERGENCY RELIEF FUNDING. THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF") PROVIDES FUNDING TO INSTITUTIONS FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS AS WELL AS FUNDING TO SUPPORT THE COSTS OF SHIFTING CLASSES ONLINE AND OTHER INSTITUTIONAL COSTS INCURRED RELATED TO THE PANDEMIC. THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITIES ACT ("CARES") WAS SIGNED INTO LAW ON MARCH 27, 2020 AND PROVIDED THE INSTITUTE WITH FUNDING UNDER HEERF I. THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT ("CRRSAA") WAS SIGNED INTO LAW ON DECEMBER 27, 2020 AND PROVIDED THE INSTITUTE WITH FUNDING UNDER HEERF II. THE AMERICAN RESCUE PLAN ("ARP") WAS SIGNED INTO LAW ON MARCH 11, 2021 AND PROVIDED THE INSTITUTE WITH FUNDING UNDER HEERF III. EACH OF THESE AWARDS HAS A STUDENT AID PORTION AND AN INSTITUTIONAL PORTION. 1 MIDDLE EAST AND NORTH AFRICA 1 7 PROGRAM SERVICES EDUCATION 1130269 NORTH AMERICA 1 37 PROGRAM SERVICES EDUCATION 7818360 EAST ASIA AND THE PACIFIC 2 4 PROGRAM SERVICES EDUCATION 1161169 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 19318542 4 48 0 0 4 48 29428340 0 29428340 1 0 1 1 1 1 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV NEW YORK INSTITUTE OF TECHNOLOGY INVESTS DIRECTLY IN VARIOUS ALTERNATIVE INVESTMENTS THAT MAY BE ORGANIZED AS EITHER FOREIGN CORPORATIONS OR FOREIGN PARTNERSHIPS. THE INSTITUTE ALSO INVESTS IN DOMESTIC LIMITED PARTNERSHIPS THAT MAY INVEST IN FOREIGN CORPORATIONS OR PARTNERSHIPS. THE INSTITUTE'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR THE FILING OF FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT THAT THE INSTITUTE IS REQUIRED TO COMPLETE ONE (OR MORE) OF THESE FOREIGN FORMS, IT IS FILED WITH THE INSTITUTE'S FORM 990-T FILING. 1 THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NY 101 NICOLLS ROAD STONY BROOK NY 117948181 114601320 501(C)(3) 16110 RESEARCH RESEARCH FOUNDATION OF CUNY 230 WEST 41ST STREET 7TH FLOOR NEW YORK NY 10036 131988190 501(C)(3) 12004 RESEARCH CERNO BIOSCIENCE LLC 1180 N TOWN CENTER DR SUITE 100 LAS VEGAS NV 89144 200889360 41153 RESEARCH ASSISTANCE 2 1 SCHOLARSHIPS 5206 67107403 SCHEDULE I, PART I, LINE 1 GRANT MONITORING PROCEDURES THE GRANTS DEPARTMENT AND THE FINANCIAL AID OFFICE OVERSEE ALL GRANTS, GOVERNMENT LOANS AND SCHOLARSHIP EXPENDITURES. ALL GRANT EXPENSES ARE APPROVED AND REIMBURSED IN ACCORDANCE WITH UNIVERSITY POLICY. AN ANNUAL AUDIT IS CONDUCTED IN ACCORDANCE WITH GOVERNMENTAL REGULATIONS. TO THE EXTENT THE INSTITUTE OFFERS SCHOLARSHIPS TO ITS STUDENTS, THOSE FUNDS MAY ONLY BE USED TO DEFRAY THE COST OF ATTENDANCE AND MAY NOT BE SPENT AT THE STUDENT'S DISCRETION. IN ADDITION, THE INSTITUTE DISPENSED CERTAIN EMERGENCY FINANCIAL AID TO STUDENTS AS REQUIRED BY THE HIGHER EDUCATION EMERGENCY RELIEF FUND "HEERF." NO FURTHER MONITORING OF THE USE OF HEERF FUNDING IS REQUIRED BY THE INSTITUTE (AS THE AID IS NOT DISPENSED UNLESS THE STUDENT MEETS THE ELIGIBILITY REQUIREMENTS). STUDENT EMERGENCY AID OFFERED AS PART OF THE HEERF PROGRAM ARE INCLUDED WITHIN THE SCHOLARSHIP FUNDING REPORTED IN SCHEDULE I, PART III. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 DR HENRY FOLEY PRESIDENT 845054 0 150000 0 120762 0 79950 0 24729 0 1220495 0 0 0 JERRY BALENTINE EXECUTIVE VP & COO 599337 0 65000 0 7266 0 19950 0 42109 0 733662 0 0 0 JUNIUS GONZALES PROVOST & VP ACADEMIC AFFAIRS 544006 0 0 0 7266 0 19950 0 12367 0 583589 0 0 0 CATHERINE FLICKINGER VP HR, GEN COUNSEL & SECRETARY 410994 0 50000 0 7457 0 25888 0 29028 0 523367 0 0 0 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 365130 0 60000 0 25999 0 19950 0 40409 0 511488 0 0 0 SHANE SPEIGHTS SITE DEAN NYITCOM 425964 0 0 0 315 0 19950 0 40185 0 486414 0 0 0 NADA ASSAF-ANID VP STRATEGIC COMM./EXT AFFAIRS 393911 0 0 0 7266 0 28500 0 22428 0 452105 0 0 0 PATRICK MINSON VP DEV. & ALUMNI RELATIONS 346999 0 0 0 6693 0 19950 0 39279 0 412921 0 0 0 NICOLE WADSWORTH DEAN NYITCOM 347352 0 0 0 483 0 19950 0 36509 0 404294 0 0 0 JOSEPH POSILLICO VP FOR ENROLLMENT MANAGEMENT 328143 0 0 0 6987 0 19950 0 37666 0 392746 0 0 0 BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 298714 0 0 0 903 0 28500 0 42935 0 371052 0 0 0 ANTHONY GERDES PROFESSOR 314056 0 0 0 953 0 28500 0 23428 0 366937 0 0 0 PENNIE TURGEON VP OF IT & CIO 314520 0 0 0 10487 0 19950 0 480 0 345437 0 0 0 SUZANNE MUSHO VP OF REAL ESTATE DEV & SUST CAP 320000 0 0 0 9904 0 0 0 0 0 329904 0 0 0 EILEEN VALERIO CONTROLLER & ASST. TREASURER 205662 0 0 0 903 0 16606 0 42109 0 265280 0 0 0 TRAVEL AND HOUSING BENEFITS SCHEDULE J, PART I, LINE 1A NYIT IS A GLOBAL UNIVERSITY WITH CAMPUSES IN NEW YORK (MANHATTAN AND LONG ISLAND), ARKANSAS, CHINA, CANADA, AND THE MIDDLE EAST, AND, AS SUCH, THE PRESIDENT IS REQUIRED TO ENGAGE IN EXTENSIVE INTERNATIONAL TRAVEL. THE PRESIDENT TRAVELS WITH ABOVE STANDARD ACCOMMODATIONS (E.G., BUSINESS OR FIRST CLASS). THESE ACCOMMODATIONS ARE USED FOR BUSINESS PURPOSES ONLY AND ARE NOT TREATED AS TAXABLE COMPENSATION. NYIT DOES NOT MAINTAIN PRESIDENTIAL CAMPUS HOUSING. NYIT PROVIDES A HOUSING ALLOWANCE TO THE PRESIDENT TO MAINTAIN A RESIDENCE FOR PERSONAL AND UNIVERSITY FUNCTIONS. OTHER TAXABLE COMPENSATION RECEIVED BY PRESIDENT FOLEY IN CALENDAR YEAR 2020 INCLUDED A $120,000 HOUSING ALLOWANCE. THE INSTITUTE HAS A MEMBERSHIP AT A LOCAL UNIVERSITY CLUB IN THE NAME OF PRESIDENT, HANK FOLEY. THIS CLUB IS USED EXCLUSIVELY TO ENGAGE IN UNIVERSITY BUSINESS; ACCORDINGLY THE VALUE OF THE CLUB MEMBERSHIP IS NOT INCLUDED IN PRESIDENT FOLEY'S TAXABLE WAGES. SCHEDULE J, PART I, LINES 4A-B: PRESIDENT & CEO, DR. HANK FOLEY, PARTICIPATES IN THE INSTITUTE'S SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN; IN CALENDAR YEAR 2020, THE INSTITUTE CONTRIBUTED $60,000 INTO DR. FOLEY'S PLAN. SCHEDULE J, PART I, LINE 7 AND PART II, COLUMN (B)(II) THE PRESIDENT'S REPORTABLE COMPENSATION INCLUDES BONUS AND INCENTIVE COMPENSATION EARNED BASED ON MEETING CERTAIN OBJECTIVE PERFORMANCE CRITERIA AND IN ACCORDANCE WITH THE PRESIDENT'S EMPLOYMENT AGREEMENT. THE DECISION TO AWARD THE PRESIDENT WITH A BONUS RESTS WITH THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE. CERTAIN OTHER OFFICERS AND KEY EMPLOYEES REPORTED ON SCHEDULE J RECEIVED A BONUS IN CALENDAR YEAR 2020. THE ACTUAL AMOUNT DISTRIBUTED TO ADMINISTRATIVE STAFF IS SUBJECT TO SOME ANNUAL DISCRETION AT THE DIRECTION OF THE PRESIDENT AND SENIOR MANAGERS. GENERAL STATEMENT REGARDING THE COVID-19 PANDEMIC: THE COVID-19 PANDEMIC, WHOSE EFFECTS FIRST BECAME KNOWN IN EARLY 2020, IS HAVING A BROAD AND NEGATIVE IMPACT ON COMMERCE AND FINANCIAL MARKETS AROUND THE WORLD. THE EXTENT OF THE IMPACT OF COVID-19 ON THE INSTITUTE'S OPERATIONAL AND FINANCIAL PERFORMANCE WILL DEPEND ON CERTAIN DEVELOPMENTS, INCLUDING THE DURATION AND SPREAD OF THE OUTBREAK WHICH AT PRESENT, CANNOT BE DETERMINED. ACCORDINGLY, THE EXTENT TO WHICH COVID-19 MAY IMPACT THE INSTITUTE'S FINANCIAL POSITION AND CHANGES IN NET ASSETS AND CASH FLOWS IS UNCERTAIN AND THE ACCOMPANYING FINANCIAL STATEMENTS INCLUDE NO PROSPECTIVE ADJUSTMENTS RELATING TO THE EFFECTS OF THIS PANDEMIC. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION: PROVIDE CAREER-ORIENTED PROFESSIONAL EDUCATION; GIVE ALL QUALIFIED STUDENTS ACCESS TO OPPORTUNITY; SUPPORT RESEARCH AND SCHOLARSHIP THAT BENEFIT THE LARGER WORLD. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION: ENGINEERING AND COMPUTING SCIENCES; HEALTH PROFESSIONS; ARCHITECTURE; MANAGEMENT; AND MEDICINE. NYIT IS A NON-PROFIT, INDEPENDENT, PRIVATE, AND NONSECTARIAN INSTITUTION OF HIGHER EDUCATION. SINCE 1955, NYIT HAS PURSUED ITS MISSION TO: -PROVIDE CAREER-ORIENTED PROFESSIONAL EDUCATION -GIVE ALL QUALIFIED STUDENTS ACCESS TO OPPORTUNITY -SUPPORT RESEARCH AND SCHOLARSHIP THAT BENEFIT THE LARGER WORLD FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: NYIT PROVIDES UNDERGRADUATE, GRADUATE, AND DOCTORAL INSTRUCTION TO A DIVERSE STUDENT POPULATION. APPROXIMATELY 9,050 STUDENTS ATTENDED THE INSTITUTION LAST YEAR AND 2,869 GRADUATED. APPROXIMATELY 9,050 STUDENTS BECOME ENGAGED, TECHNOLOGICALLY SAVVY PHYSICIANS, ARCHITECTS, SCIENTISTS, ENGINEERS, BUSINESS LEADERS, DIGITAL ARTISTS, HEALTH CARE PROFESSIONALS, AND MORE. WITH CAMPUSES IN NORTH AMERICA, CHINA, AND THE MIDDLE EAST AS WELL AS ONLINE, NYIT'S STUDENT AND FACULTY GLOBAL EXCHANGE PROGRAMS, UNIQUE EXPERIENTIAL LEARNING PROGRAMS, AND NUMEROUS EXTRA- AND CO-CURRICULAR OPPORTUNITIES COMBINE TO CREATE A UNIQUE, 21ST-CENTURY LEARNING EXPERIENCE. THE INSTITUTE OFFERS THE FOLLOWING SCHOOLS AND COLLEGES: COLLEGE OF ARTS AND SCIENCES COLLEGE OF OSTEOPATHIC MEDICINE SCHOOL OF ARCHITECTURE AND DESIGN COLLEGE OF ENGINEERING AND COMPUTING SCIENCES SCHOOL OF HEALTH PROFESSIONS SCHOOL OF MANAGEMENT THE INSTITUTE OFFERS THE FOLLOWING DEGREES: ASSOCIATE IN APPLIED SCIENCE BACHELOR OF ARCHITECTURE BACHELOR OF ARTS BACHELOR OF FINE ARTS BACHELOR OF PROFESSIONAL STUDIES BACHELOR OF SCIENCE MASTER OF ARTS MASTER OF ARTS IN TEACHING MASTER OF BUSINESS ADMINISTRATION MASTER OF FINE ARTS MASTER OF SCIENCE DOCTOR OF PHILOSOPHY DOCTOR OF PHYSICAL THERAPY DOCTOR OF OSTEOPATHIC MEDICINE DOCTOR OF OCCUPATIONAL THERAPY PROGRAMMATIC REVENUES REPRESENT TUITION AND FEES, ROOM AND BOARD, ANCILLARY EDUCATIONAL SERVICES, AND OTHER EDUCATIONAL PROGRAMS (REPORTED ON LINE 11(D) OF PART VIII OF THE 990). FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: NYIT'S ACADEMIC HEALTH CARE CENTERS OFFER HEALTH AND MEDICAL SERVICES TO STUDENTS, FACULTY, STAFF, AND COMMUNITY MEMBERS. THE CENTERS ARE STAFFED BY PHYSICIANS FROM NYIT'S COLLEGE OF OSTEOPATHIC MEDICINE -- ONE OF THE NATION'S MOST PRESTIGIOUS OSTEOPATHIC MEDICAL SCHOOLS -- AS WELL AS MEDICAL STUDENTS WHO ARE PREPARING TO ENTER VARIOUS HEALTH PROFESSIONS. THESE PRIMARY CARE CENTERS ARE OPERATED IN OLD WESTBURY AND CENTRAL ISLIP AND ARE STAFFED BY FACULTY FROM THE DEPARTMENTS OF FAMILY PRACTICE, CLINICAL SPECIALTIES, OSTEOPATHIC MANIPULATIVE MEDICINE, AS WELL AS PHYSICAL, OCCUPATIONAL, SPEECH THERAPISTS AND EXERCISE PHYSIOLOGISTS. THE CLINICS ARE AS FOLLOWS: A. W. KENNETH RILAND ACADEMIC HEALTH CARE CENTER: THIS PRIMARY CARE CLINIC SERVES THE OLD WESTBURY, N.Y., CAMPUS AND COMMUNITY. B. CENTRAL ISLIP FAMILY HEALTH CARE CENTER THIS 7,000-SQUARE-FOOT FACILITY SERVES THE CENTRAL ISLIP, N.Y., COMMUNITY USING AN ADVANCED MEDICAL RECORDS DATABASE AND BOARD-CERTIFIED PHYSICIANS UTILIZING OSTEOPATHIC MANIPULATIVE MEDICINE TO TREAT A WIDE RANGE OF AILMENTS. THESE CLINICS OFFER A WIDE VARIETY OF SERVICES, INCLUDING: ACUPUNCTURE, BREAST HEALTH, CLINICAL PSYCHOLOGY, FAMILY MEDICINE, GENERAL INTERNAL MEDICINE, GENETIC COUNSELING, OCCUPATIONAL THERAPY, OSTEOPATHIC MANIPULATIVE MEDICINE, PARKINSON'S DISEASE TREATMENT, PEDIATRICS, PHYSICAL THERAPY, SPEECH PATHOLOGY AND TAI CHI. C. ADELE SMITHERS PARKINSON'S DISEASE TREATMENT CENTER - THIS CENTER IS DEDICATED TO PARKINSON'S DISEASE TREATMENT, COMMUNITY AWARENESS, RESEARCH, AND ENSURING THAT PATIENTS MAINTAIN THE BEST QUALITY OF LIFE. D. NYIT CENTER FOR SPORTS MEDICINE - THIS CENTER OFFERS INJURY EVALUATIONS, CARDIOPULMONARY EXERCISE TESTING, DIETARY AND NUTRITIONAL GUIDANCE, AND OTHER SPORTS-RELATED TREATMENT. E. EHLERS-DANLOS SYNDROME/HYPERMOBILITY TREATMENT CENTER. FORM 990, PART VIII: THE INSTITUTE SUFFERED SIGNIFICANT FLOOD DAMAGE ON SOME OF ITS CAMPUS PROPERTIES; THE LOSS ASSOCIATED WITH THAT FLOOD DAMAGE IS REPORTED AS A CAPITAL LOSS IN PART VIII, LINE 7(B)(II). FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE INSTITUTE'S FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH BOTH THE INSTITUTE'S FINANCIAL DEPARTMENT AND ITS MANAGEMENT TEAM. THE 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER, PRESIDENT AND GENERAL COUNSEL PRIOR TO SUBMISSION TO THE FULL BOARD OF TRUSTEES. THE BOARD OF TRUSTEES REVIEWS AND COMMENTS ON THE 990 BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST REVIEW VICE PRESIDENTS AND CERTAIN OTHER EMPLOYEES, PARTICULARLY EMPLOYEES INVOLVED WITH THE PROCUREMENT OF GOODS AND SERVICES, ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE FORMS TO THE GENERAL COUNSEL, AND TO SUBMIT UPDATED FORMS IN THE EVENT THAT THERE IS ANY CHANGE IN THE TIME PERIOD BETWEEN THE SUBMISSION OF THE ANNUAL FORMS. WITH RESPECT TO ANY DISCLOSED CONFLICTS, THE GENERAL COUNSEL WILL CONSULT, (AS APPROPRIATE), WITH NYIT MANAGEMENT SUCH AS THE PRESIDENT, CHIEF FINANCIAL OFFICER, AND, IF NECESSARY OR ADVISABLE, THE CHAIR OF THE BOARD OF TRUSTEES AUDIT COMMITTEE. THE GENERAL COUNSEL WILL RECOMMEND TO THE PRESIDENT AND, IF INDICATED, THE CHAIR OF THE AUDIT COMMITTEE, SUCH STEPS AS MAY BE APPROPRIATE TO MANAGE THE CONFLICT OF INTEREST. ANY CONFLICTS OF INTEREST RELATING TO OFFICERS OR KEY EMPLOYEES, WHETHER REPORTED ON THE ANNUAL FORMS OR OTHERWISE, WILL BE REPORTED BY THE GENERAL COUNSEL TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW NYIT'S BOARD (ALL INDEPENDENT TRUSTEES OTHER THAN THE NYIT PRESIDENT), REVIEWS THE COMPENSATION OF NYIT'S PRESIDENT AT CONTRACT RENEWAL INTERVALS. THE LAST SUCH REVIEW WAS IN DECEMBER 2020, IN CONNECTION WITH CONSIDERATION OF AMENDMENTS TO THE EMPLOYMENT CONTRACT OF NYIT'S PRESIDENT. THE BOARD IS ADVISED BY INDEPENDENT COMPENSATION CONSULTANTS AND REVIEWS COMPENSATION DATA FROM SIMILAR ORGANIZATIONS TO ENSURE THAT NYIT DOES NOT COMPENSATE IN EXCESS OF MARKET NORMS. COMPENSATION OF OTHER KEY EMPLOYEES AND OFFICERS OF THE CORPORATION ARE DETERMINED UPON HIRE BY MARKET REVIEWS CONDUCTED BY THE PRESIDENT AND OTHER SENIOR MANAGERS, WHO MAY CONSULT FURTHER WITH HUMAN RESOURCES AND EXTERNAL CONSULTANTS. ANNUAL INCREASES FOR KEY EMPLOYEES AND OFFICERS ARE BASED ON BUDGET PARAMETERS AND REVIEW BY THE PRESIDENT OR HUMAN RESOURCES. CONTEMPORANEOUS SUBSTANTIATION FOR COMPENSATION LEVELS OF THE PRESIDENT, KEY EMPLOYEES OR OFFICERS WILL BE MAINTAINED BY THE OFFICE OF THE PRESIDENT OR HUMAN RESOURCES. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENT AVAILABILITY THE INSTITUTE'S FORM 990 IS AVAILABLE ON THE INTERNET AT WWW.GUIDESTAR.ORG. IN ADDITION, THE INSTITUTE MAKES A COPY OF ITS FORM 990 AVAILABLE AT ITS PLACE OF BUSINESS. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S (THE GENERAL COUNSEL) DISCRETION. FORM 990, PART XI, LINE 9: CHANGE IN POSTRETIREMENT PROGRAM 896,551. LOSS ON BOND REFINANCING -1,217,136. PRIOR PERIOD ADJUSTMENT 793,572.