2022-05-16T17:55:43-05:00 2021-06-30 135565207 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2020-07-01 131099420 NEW YORK MEDICAL COLLEGE NEWY 9145944470 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ADAM HAMMERMAN VICE PRESIDENT AND CFO 9145944570 2022-05-14 1 ADAM HAMMERMAN XXX-XX-XXXX EVAN W SEEKAMP P01907071 2127589700 2022-05-13 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z EDWARD C HALPERIN MD 40 SUNSHINE COTTAGE RD VALHALLA NY 10595 156968101 0 X WWW.NYMC.EDU X 1860 NY EDUCATE PHYSICIANS, SCIENTISTS, PUBLIC HEALTH SPECIALISTS & OTHER HEALTHCARE PROFESSIONALS. 22 20 1028 1413 1337065 190959 3456447 6376007 108584600 107876967 3532860 2929777 4124063 3921573 119697970 121104324 7580581 8607789 0 0 77676979 75146982 0 0 1319397 34643772 37135252 119901332 120890023 -203362 214301 318677910 347930816 141472263 154625703 177205647 193305113 X NEW YORK MEDICAL COLLEGE (NYMC), A MEMBER OF THE TOURO COLLEGE AND UNIVERSITY SYSTEM, IS A HEALTH SCIENCES COLLEGE WHOSE PURPOSE IS TO EDUCATE CLINICAL AND PUBLIC HEALTH PROFESSIONALS AS WELL AS RESEARCHERS, TO CONDUCT BIOMEDICAL AND POPULATION-BASED RESEARCH. THROUGH ITS FACULTY AND AFFILIATED PARTNERS, THE COLLEGE ENGENDERS A DIVERSE AND INCLUSIVE COMMUNITY THAT PROMOTES AN ATMOSPHERE OF EXCELLENCE, SCHOLARSHIP AND PROFESSIONALISM. 0 0 71388442 8607789 90460558 PROFESSIONAL EDUCATION: EDUCATE INDIVIDUALS FOR CAREERS IN MEDICAL, SCIENCE AND HEALTH PROFESSIONS. 12951892 13303054 AFFILIATION AND FACULTY PRACTICE: NYMC FACULTY MEMBERS PROVIDE SUPERVISION, TEACHING AND RELATED ADMINISTRATIVE SERVICES AT WESTCHESTER MEDICAL CENTER AND OTHER METROPOLITAN AREA HOSPITALS IN SUPPORT OF VARIOUS MEDICAL STUDENT RESIDENCY PROGRAMS. 2504065 5412770 AUXILIARY: CAMPUS SERVICES (HOUSING AND DINING) PROVIDED TO THE STUDENTS AND THE NYMC COMMUNITY TO LIVE AND FUNCTION ON CAMPUS. 86844399 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 0 1 1 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 0 0 1 417 0 1 1028 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 20 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AZ AR CA CT DE FL GA HI ID IL IN IA KS LA ME MS MT NE NV NH NJ NY NC OR PA SC SD TX VT VA WV WI WY X ADAM HAMMERMAN 9145944470 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ALAN KADISH PRESIDENT AND TRUSTEE 12.00 23.00 X X 0 934011 259535 RABBI MENACHEM GENACK TRUSTEE AND PROFESSOR 0.31 34.69 X 0 84394 3477 ROBERT ALTER TRUSTEE 0.46 34.54 X 0 0 0 GARY BARNETT TRUSTEE 0.10 34.90 X 0 0 0 HOWARD BARUCH TRUSTEE 0.42 34.58 X 0 0 0 BEN CHOUAKE TRUSTEE 0.50 0.50 X 0 0 0 DEE DELBELLO TRUSTEE 0.27 34.73 X 0 0 0 GARY GETTENBERG TRUSTEE 0.04 34.96 X 0 0 0 MUNR KAZMIR TRUSTEE 0.15 34.85 X 0 0 0 MOSHE LICHTENSTEIN TRUSTEE 0.00 1.00 X 0 0 0 JOSEPH MARK CHAIRMAN & TTEE 0.58 34.42 X X 0 0 0 STEPHEN J NICHOLAS TRUSTEE 0.15 34.85 X 0 0 0 MARTIN OLINER TRUSTEE 0.15 0.85 X 0 0 0 ELIOT PEYSER TRUSTEE 0.27 34.73 X 0 0 0 RONALD F POE TRUSTEE 0.58 34.42 X 0 0 0 JOSEPH POPACK TRUSTEE 0.31 34.69 X 0 0 0 AVI RETTER TRUSTEE 0.10 34.90 X 0 0 0 STEPHEN ROSENBERG TRUSTEE 0.10 0.90 X 0 0 0 ALAN B ROSENTHAL TRUSTEE 0.10 34.90 X 0 0 0 HENRY SAPHIER TRUSTEE 0.50 34.50 X 0 0 0 JOSEPH SCHWARTZ VICE CHAIR & TRUSTEE 0.19 34.81 X 0 0 0 KENNETH R THEOBALDS TRUSTEE 0.12 34.88 X 0 0 0 EDWARD C HALPERIN CHANCELLOR AND CEO 34.80 0.20 X 641100 0 60625 ROBERT W AMLER DEAN SHSP 34.90 0.10 X 410242 0 30020 ADAM HAMMERMAN VICE PRESIDENT AND CFO 35.00 0.00 X 273343 0 68744 NICHOLAS JANIGA VP, CHIEF COUNSEL & ASST SEC 34.90 0.10 X 294934 0 68919 MARINA HOLZ DEAN GSBMS 35.00 0.00 X 278652 0 11199 JERRY L NADLER DEAN OF THE SCHOOL OF MEDICINE 34.90 0.10 X 682640 0 39292 MICHAEL NEWMAN SECRETARY, SR VP AND GEN COUNSEL 5.50 29.50 X 0 339280 30892 SALOMON AMAR MEDICAL DIRECTOR 16.00 19.00 X 195110 276745 98420 MITCHELL S CAIRO PROFESSOR 35.00 0.00 X 518145 0 69126 GERARD M VILLUCCI ADMINISTRATOR 35.00 0.00 X 409646 0 29762 MICHAEL S GOLIGORSKY PROFESSOR 35.00 0.00 X 332552 0 61770 RICHARD G MCCARRICK VICE DEAN SOM 35.00 0.00 X 314567 0 70336 LORI SOLOMON CHAIR 17.50 17.50 X 299760 0 72179 FRANCIS BELLONI DEAN, GSBMS (END 6/30/17) 35.00 0.00 X 169552 0 63857 JENNIFER RIEKERT VP COMMUNICATIONS (END 6/30/17) 35.00 0.00 X 197409 0 18482 5017652 1634430 1056635 196 1 1 1 CONSTELLATION NEWENERGY INC 1310 POINT STREET 8TH FLOOR BALTIMORE MD 21231 CONSTRUCTION 2182766 PAVARINI NORTH EAST CONSTRUCTION COMPANY 30 OAK STREET STAMFORD CT 06905 CONSTRUCTION 1409703 ABLE SERVICES PO BOX 39000 SAN FRANCISCO CA 94139 CLEANING SERVICE 1335083 PRIDE AND SERVICE ELEVATOR 118 EAST 28TH STREET SUITE 905 NEW YORK NY 10016 ELEVATOR 1069338 ELSEVIER INC PO BOX 7247-8455 PHILADELPHIA PA 19170 ONLINE LIBRARY SUBSCRIPTION 783403 30 327925 681597 5366485 722616 6376007 TUITION AND FEES 611310 70441157 70441157 RESEARCH AND SPONSORED PROJECTS 611310 18719986 18719986 AFFILIATION FEES 611310 10400236 10400236 AUXILIARY ENTERPRISES 611310 5412770 5412770 FACULTY PRACTICE PLANS 611310 2902818 2902818 107876967 2037463 116152 -6053 1927364 5238555 2905969 2332586 2332586 893616 1438970 33806343 32914029 892314 892314 892314 0 327925 43779 -43779 -43779 COMPARATIVE MEDICINE 611310 1022391 572889 449502 INSURANCE PROCEEDS 611310 173310 173310 NYS UNEMPLOYMENT REIMBURSEMENT 611310 170327 170327 266738 266738 1632766 121104324 109176383 1337065 4214869 943772 943772 7646737 7646737 17280 17280 2743788 1543041 1165741 35006 56528560 46440503 9506442 581615 3222506 2916059 280396 26051 8847592 6718504 2040748 88340 3804536 3094069 673403 37064 742436 742436 320209 320209 66441 66441 218554 218554 2601007 1428047 1041525 131435 61983 61983 1262686 811649 370954 80083 1438352 588407 831047 18898 8994586 1418897 7575689 93805 51201 41743 861 75087 69312 5575 200 262336 262336 10575979 7608059 2855255 112665 732241 732241 SUPPLIES 3563154 2814246 748908 STUDENT ACTIVITIES 1908612 1799492 108420 700 BAD DEBT EXPENSE 1874972 1874972 LEGAL RESERVE 1000000 1000000 1342812 935124 263192 144496 120890023 86844399 32726227 1319397 1630290 3692314 9569056 24691584 3134234 4782283 10324188 8836697 6724208 6051004 114286 114286 910964 1128108 268814328 88583324 178440583 180231004 74745390 81094505 17279552 21275670 10200000 10200000 5605159 5833361 318677910 347930816 23832133 26257972 16463426 15038460 45748949 66114646 1834194 1970756 25122509 15390460 28471052 29853409 141472263 154625703 X 116003140 119773740 61202507 73531373 177205647 193305113 318677910 347930816 X 214301 11945436 50248 3889481 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 66441 0 1 22 66463 0 PART II-B, LINE 1: NEW YORK MEDICAL COLLEGE RETAINED THE LAW FIRM OF HINMAN STRAUB, 121 STATE STREET, ALBANY, NEW YORK. CONSIDERATION OF $66,441 WAS PAID FOR LOBBYING SERVICES AND ADVICE REGARDING THE APPROPRIATION BY THE NEW YORK STATE LEGISLATURE AND THE PAYMENT BY THE STATE OF NEW YORK OF GRANT MONIES TO NEW YORK MEDICAL COLLEGE TO SUPPORT BIOMEDICAL RESEARCH. THE COLLEGE'S LOBBYING ACTIVITIES, WITH THE ASSISTANCE OF HINMAN STRAUB, INCLUDED SEVERAL MEETINGS AND TELEPHONE CONVERSATIONS WITH STATE LEGISLATORS AND EXECUTIVE DEPARTMENT OFFICIALS TO MAKE THEM AWARE OF THE IMPORTANCE OF NEW YORK MEDICAL COLLEGE AND BIOMEDICAL RESEARCH IN THE HUDSON VALLEY AREA OF NEW YORK AND THE DIFFICULTY THE FINANCIAL PROBLEMS OF HOSPITALS IN NEW YORK STATE WAS HAVING ON MEDICAL EDUCATION AND RESEARCH AS WELL AS PATIENT CARE. THE COLLEGE PAYS ANNUAL DUES TO NACUBO, A PORTION OF WHICH ARE ATTRIBUTABLE TO LOBBYING. 0 1 X 68789798 1104500 13228018 3420246 60000 79642070 70675557 52194 1593773 3380799 150927 68789798 70345328 200408 3659952 3312320 217811 70675557 66284782 1687842 5438747 2958787 107256 70345328 62771921 986954 4806356 2276230 4219 66284782 0.42830 0.27620 0.29550 0 0 23996866 23996866 185339824 53808791 131531033 390466 277107 113359 28534736 20926900 7607836 30552436 13570526 16981910 180231004 BEN INT IN PERP TRUSTS 15234168 F ALTERNATIVE INVESTMENTS 4324676 F OTHER PARTNER INVESTMENTS 1579926 F REAL ESTATE PARTNERSHIPS 136900 F 21275670 TAXABLE BONDS 22826691 OPERATING LEASE LIABILITIES 4978870 PAYABLE TO BIOINC 1274110 REFUNDABLE FEDERAL STUDENT LOANS 481853 OTHER LIABILITIES 291885 29853409 X 133018721 11945436 -2762231 9183205 123835516 218554 -2949746 -2731192 121104324 116398153 3185998 3185998 113212155 218554 7459314 7677868 120890023 PART IV, LINE 2B: AMOUNTS REPRESENT TUITION PAYMENTS RECEIVED IN ADVANCE AND HELD IN ESCROW BY THE COLLEGE. PART V, LINE 4: THE COLLEGE ENDOWMENT CONSISTS OF APPROXIMATELY 124 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: THE COLLEGE PRESCRIBES TO A THRESHOLD OF MORE LIKELY THAN NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AS OF JUNE 30, 2021, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY SIGNIFICANT UNRELATED BUSINESS INCOME TAX LIABILITY, WHICH WOULD HAVE A MATERIAL IMPACT UPON ITS FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FMV IN PERPETUAL TRUST 3,140,529. REVENUE FROM CONSOLIDATED ORGANIZATION 807,196. POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 749,358. SCHOLARSHIPS -7,072,036. TUITION REMISSION -387,278. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -43,779. SPECIAL EVENT EXPENSES -2,905,967. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 2,905,967. EXPENSES FROM CONSOLIDATED ORGANIZATION 236,252. SPECIAL EVENT EXPENSES 43,779. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 7,072,036. TUITION REMISSION 387,278. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SOLICITATION MATERIALS REQUESTED FROM OR SENT BY THE INSTITUTION CONTAIN A STATEMENT OF ITS POLICY ON NON-DISCRIMINATION. THE COLLEGE'S POLICY ON NON-DISCRIMINATION IS ALSO DISPLAYED ON ITS PUBLIC WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES ANNUAL FUNDING APPROPRIATED FROM THE NEW YORK STATE BUNDY AID PROGRAM. 0 CENTRAL AMERICA/CARIBBEAN 0 0 INVESTMENTS 4324676 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING GRANTMAKING 17280 0 0 0 0 0 0 4341956 0 4341956 EAST ASIA/PACIFIC RESEARCH 17280 1 1 0 1 1 0 1 PART I, LINE 3: THE INVESTMENTS LISTED ON PART I ARE REPORTED AT FAIR MARKET VALUE. PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN (F) THE COLLEGE USES THE ACCRUAL METHOD OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES. AK AZ AR CA CT DE FL GA HI ID IL IN IA KS LA ME MS MT NE NV NH NJ NY NC OR PA SC SD TX VT VA WV WI WY FOUNDER'S DINNER 327925 327925 43779 327925 327925 43779 43779 -43779 1 OREGON HEALTH AND SCIENCE UNIVERSITY 2525 SW 3RD AVE SUITE 245 PORTLAND OR 97201 931176109 OREGON 235052 RESEARCH UNIVERSITY OF MICHIGAN 5082 WOLVERINE TOWER 3003 SOUTH STATE STREET ANN ARBOR MI 481091287 386006309 501(C)(3) 124145 RESEARCH UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER 5323 HARRY HINES BLVD MC 929 DALLAS TX 75390 756002868 TEXAS 110228 RESEARCH AUGUSTA UNIVERSITY RESEARCH INSTITUTE INC 1120 15TH STREET CJ3301 AUGUSTA GA 30912 581418202 501(C)(3) 93819 RESEARCH WESTCHESTER COUNTY HEALTH CARE CORP 100 WOODS ROAD VALHALLA NY 10595 133964321 WESTCHESTER 78946 RESEARCH UNIVERSITY OF PITTSBURGH 11 ATWOOD STREET SUITE 201 PITTSBURG PA 15260 250965591 501(C)(3) 51540 RESEARCH MEDICAL COLLEGE OF WISCONSIN 8701 WATERTOWN PLANK RD PO BOX26509 MILWAUKEE WI 53226 390806261 501(C)(3) 39142 RESEARCH BOSTON CHILDREN'S HEALTH PHYSICIANS 40 SUNSHINE COTTAGE RD VALHALLA NY 10595 133956599 501(C)(3) 35740 RESEARCH JOHN HOPKINS UNIVERSITY 3910 KESWICK ROAD N4327B BALTIMORE MD 21211 520595110 501(C)(3) 33614 RESEARCH BAYSTATE MEDICAL CENTER INC 759 CHESTNUT STREET SPRINGFIELD MA 01199 042790311 501(C)(3) 30064 RESEARCH BAYLOR COLLEGE OF MEDICINE ONE BAYLOR PLAZA HOUSTON TX 770303411 741613878 501(C)(3) 22683 RESEARCH TUFTS MEDICAL CENTER 800 WASHINGTON STREET 453 BOSTON MA 02111 270440772 501(C)(3) 22327 RESEARCH THE RESEARCH INSTITUTE AT NATIONWIDE CHILDREN'S HOSPITAL 700 CHILDRENS DRIVE COLUMBUS OH 43205 316056230 501(C)(3) 20602 RESEARCH DANA-FARBER CANCER INSTITUTE INC 450 BROOKLINE AVENUE BOSTON MA 02215 042263040 501(C)(3) 18872 RESEARCH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA LOS ANGELES 1855 FOLSOM STREET NPX 0812 SAN FRANCISCO CA 94143 946036493 501(C)(3) 18573 RESEARCH CHILDREN'S HOSPITAL LOS ANGELES 4650 SUNSET BOULEVARD LOS ANGELES CA 90027 951690977 501(C)(3) 8424 RESEARCH 17 SCHOLARSHIPS & GRANTS 588 7459314 CARES ACT - HEERF AID TO STUDENTS 551 187423 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED BASED ON MERIT AND BASED ON NEED. THE BURSAR'S OFFICE MONITORS THE USE OF SUCH FUNDS TO THE EXTENT THAT THEY ARE USED EXCLUSIVELY FOR TUITION AND FEES. WHEN SCHOLARSHIPS ARE AWARDED, THE AMOUNT DISBURSED GOES DIRECTLY AGAINST THE BALANCE A STUDENT HAS WITH THE BURSAR'S OFFICE. DURING THE 2020-21 ACADEMIC YEAR, FUNDING FROM THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT (CARES ACT) PROVIDED STUDENTS WITH $187,423 OF DIRECT EMERGENCY AID. WITH RESPECT TO GRANTS RECEIVED BY ORGANIZATIONS WITHIN THE UNITED STATES, THE COLLEGE REQUIRES PASS-THROUGH REPORTS (ATTESTATION OF EFFORT) FROM ITS SUBRECIPIENTS AS OUTLINED IN THE GRANT AGREEMENT WITH THE SUBRECIPIENT. THE TIME AND EFFORT ATTESTATION MUST BE APPROVED BY THE PRINCIPAL INVESTIGATOR OF THE GRANT TO ENSURE RECEIPT OF WORK PERFORMED. X 1 1 X X X 0 1 0 0 0 0 0 1 0 ALAN KADISH PRESIDENT AND TRUSTEE 0 916162 0 0 0 17849 0 94248 0 165287 0 1193546 0 0 JERRY L NADLER DEAN OF THE SCHOOL OF MEDICINE 627868 0 0 0 54772 0 3537 0 35755 0 721932 0 0 0 EDWARD C HALPERIN CHANCELLOR AND CEO 567790 0 50000 0 23310 0 26921 0 33704 0 701725 0 0 0 MITCHELL S CAIRO PROFESSOR 492662 0 0 0 25483 0 26921 0 42205 0 587271 0 0 0 SALOMON AMAR MEDICAL DIRECTOR 195110 275676 0 0 0 1069 0 16337 0 82083 195110 375165 0 0 ROBERT W AMLER DEAN SHSP 382932 0 4000 0 23310 0 26921 0 3099 0 440262 0 0 0 GERARD M VILLUCCI ADMINISTRATOR 408956 0 0 0 690 0 26524 0 3239 0 439409 0 0 0 MICHAEL S GOLIGORSKY PROFESSOR 306872 0 0 0 25680 0 35865 0 25905 0 394322 0 0 0 RICHARD G MCCARRICK VICE DEAN SOM 291257 0 0 0 23310 0 35865 0 34471 0 384903 0 0 0 LORI SOLOMON CHAIR 289322 0 10000 0 438 0 26921 0 45258 0 371939 0 0 0 MICHAEL NEWMAN SECRETARY, SR VP AND GEN COUNSEL 0 338670 0 0 0 610 0 7203 0 23689 0 370172 0 0 NICHOLAS JANIGA VP, CHIEF COUNSEL & ASST SEC 294643 0 0 0 291 0 26351 0 42568 0 363853 0 0 0 ADAM HAMMERMAN VICE PRESIDENT AND CFO 272743 0 0 0 600 0 26351 0 42393 0 342087 0 0 0 MARINA HOLZ DEAN GSBMS 269272 0 0 0 9380 0 9718 0 1482 0 289852 0 0 0 FRANCIS BELLONI DEAN, GSBMS (END 6/30/17) 166240 0 0 0 3312 0 20367 0 43490 0 233409 0 0 0 JENNIFER RIEKERT VP COMMUNICATIONS (END 6/30/17) 196166 0 1000 0 243 0 15872 0 2610 0 215891 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE JERRY NADLER, DEAN OF THE SCHOOL OF MEDICINE, HAS A TAXABLE HOUSING ALLOWANCE FROM NEW YORK MEDICAL COLLEGE. PART I, LINE 4B NONQUALIFIED DEFERRED COMPENSATION PLAN THE PRESIDENT PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN; AMOUNTS IN COLUMN (C) INCLUDE A DEFERRAL OF $62,500. PART I, LINE 7 NONFIXED PAYMENTS DISCRETIONARY BONUSES WERE PAID DURING CALENDAR YEAR 2020, AS REPORTED IN COLUMN (B)(II). A DORMITORY AUTHORITY OF THE STATE OF NY 2014A 146000293 649907M82 2014-06-26 59716460 CONSTRUCTION AND REAL ESTATE ACQ. 0 0 1 B TCUS OBLIGATED GROUP REV BONDS SERIES 2020A 146000293 000000000 2020-07-01 55610000 ACQUIRE AND RENOVATE FACILITY 0 0 1 A 450000 48338203 4730508 3932790 900851 38774054 2014 0 0 1 1 B 20342461 1320648 464633 18557180 0 0 1 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 SCHEDULE K SUPPLENTAL INFORMATION PART I, LINE A THIS BOND ISSUE IS POOLED FINANCING TOTALING $59,716,460 BETWEEN THREE ENTITIES. THE AMOUNT ALLOCATED TO NYMC IS LISTED IN PART II, LINE 3: $48,338,203. THE INFORMATION LISTED IN PART II, LINES 4-11 ARE THE AMOUNTS ALLOCATED TO NYMC. PART III, LINES 2, 3A, 4 AND 5 THE COLLEGE REVIEWS ALL ACTIVITY PROPOSED FOR ITS BOND-FINANCED FACILITIES, AND ALLOWS IN THOSE FACILITIES ONLY ACTIVITIES THAT EITHER MEET THE INCIDENTAL CONTRACT EXCEPTION OR REVENUE PROCEDURE 2016-44 SAFE HARBOR. THE COLLEGE HAS RENTAL AGREEMENTS WHICH DO NOT GENERATE PBU BECAUSE THEY ARE IN SPACE FINANCED WITH EQUITY. PART IV, LINES 2C THE MOST RECENT ARBITRAGE CALCULATION OCCURRED ON 07/02/2019. SUBSTANTIAL CONTRIBUTOR 85 SUB. CONTRIBUTOR 1679579 CONST. FEES 0 SUBSTANITAL CONTRIBUTOR 67 SUB. CONTRIBUTOR 188700 AUDITING 0 SUBSTANTIAL CONTRIBUTOR 38 SUB. CONTRIBUTOR 150000 ADVISORY 0 X 5 72616 FMV X HOUSING 1 650000 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER LISTED IN PART I, COLUMN (B), IS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION CONT: NEW YORK MEDICAL COLLEGE CONDUCTS BIOMEDICAL AND POPULATION-BASED RESEARCH. THROUGH ITS FACULTY AND AFFILIATED CLINICAL PARTNERS, THE COLLEGE PROVIDES SERVICE TO ITS COMMUNITY IN AN ATMOSPHERE OF EXCELLENCE, SCHOLARSHIP AND PROFESSIONALISM. NEW YORK MEDICAL COLLEGE BELIEVES THAT THE RICH DIVERSITY OF ITS STUDENT BODY AND FACULTY IS IMPORTANT TO ITS MISSION OF EDUCATING OUTSTANDING HEALTH CARE PROFESSIONALS FOR THE MULTICULTURAL WORLD OF THE 21ST CENTURY. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF NEW YORK MEDICAL COLLEGE IS NYMC, LLC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF NEW YORK MEDICAL COLLEGE IS NYMC, LLC. NYMC, LLC ELECTS AND APPROVES THE PRESIDENT, CHANCELLOR FOR HEALTH AFFAIRS/CEO AND CHAIRMAN OF THE BOARD OF TRUSTEES AND APPROVES SIGNIFICANT DECISIONS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE COLLEGE'S ORGANIZATIONAL DOCUMENTS DESCRIBE THE PROCESS FOR MEMBER APPROVAL OF SIGNIFICANT DECISIONS OF THE GOVERNING BODY. ARTICLE II, SECTION 6 OF THE BYLAWS REQUIRES MEMBERSHIP APPROVAL BY THE SOLE MEMBER NYMC LLC FOR THE FOLLOWING PROPOSED ACTIONS: I. ELECTION OF THE TRUSTEES OF THE CORPORATION; II. ANY AMENDMENT TO THE CERTIFICATE OF INCORPORATION BYLAWS OR MISSION STATEMENT OF THE CORPORATION; III. APPROVAL OF ANY MAJOR CAPITAL PROJECT INVOLVING THE SALE, ASSIGNMENT, LEASE, PLEDGE, TRANSFER OR OTHER ENCUMBRANCE OF SUBSTANTIAL FIXED ASSETS OF THE CORPORATION; V. APPROVAL OF ANY UNSECURED DEBT INCURRENCE IN AN AMOUNT GREATER THAN 5% OF THE CORPORATION'S OPERATING BUDGET; VI. APPROVAL OF THE ESTABLISHMENT OF A NEW RELATED ENTITY OF THE CORPORATION; VII. REMOVAL WITH OR WITHOUT CAUSE OF ANY OR ALL OF THE TRUSTEES; VIII. APPROVAL OF (A) THE PURCHASE, SALE, MORTGAGE OR LEASE OF REAL PROPERTY WHICH CONSTITUTES A MATERIAL PORTION OF THE ASSETS OF THE CORPORATION OR (B) THE SALE, ASSIGNMENT OF OTHER DISPOSITION OF ALL OR A MATERIAL PORTION OF THE ASSETS OF THE CORPORATION; IX. APPROVAL OF ANY MERGER, CONSOLIDATION, PURCHASE OR JOINT OPERATION AGREEMENT INVOLVING THE CORPORATION; AND X. APPROVAL OF ANY PLAN OF DISSOLUTION OR LIQUIDATION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE NEW YORK MEDICAL COLLEGE FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM THEN REVIEWED BY SENIOR MANAGEMENT, SPECIFICALLY THE CONTROLLER, VICE PRESIDENT & CFO AND GENERAL COUNSEL AND SUBMITTED TO AND REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. COPIES OF THIS RETURN ARE DISTRIBUTED TO THE FULL BOARD OF TRUSTEES BEFORE THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THERE ARE TWO CONFLICT OF INTEREST POLICIES, ONE FOR THE MEMBERS OF THE BOARD OF TRUSTEES AND THE SECOND APPLICABLE TO ALL FULL-TIME FACULTY AND EMPLOYEES OF NEW YORK MEDICAL COLLEGE. ANNUAL DISCLOSURE FORMS ARE DISTRIBUTED AND ARE REQUIRED TO BE SUBMITTED BY BOTH POLICIES. COMPLIANCE WITH THE BOARD OF TRUSTEES CONFLICT OF INTEREST POLICY IS MONITORED BY THE COLLEGE'S INSTITUTIONAL COMPLIANCE OFFICER, THE AUDIT COMMITTEE, AND THE BOARD OF TRUSTEES OF THE COLLEGE. COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY APPLICABLE TO FULL-TIME FACULTY AND EMPLOYEES IS MONITORED BY THE INSTITUTIONAL COMPLIANCE OFFICER AND THE AUDIT COMMITTEE OF THE COLLEGE. FORMAL CONFLICT MANAGEMENT PLANS ARE IMPLEMENTED FOR ANY ACTUAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 NEW YORK MEDICAL COLLEGE'S PROCESS FOR DETERMINING COMPENSATION OF THE PRESIDENT, THE CHANCELLOR FOR HEALTH AFFAIRS/CEO AND OTHER OFFICERS INCLUDES A REVIEW OF COMPARABILITY DATA FROM COMPENSATION SURVEYS AND FORMS 990 FROM SIMILAR ORGANIZATIONS, AND REVIEW AND APPROVAL BY THE FINANCE COMMITTEE AND BOARD OF TRUSTEES OF NEW YORK MEDICAL COLLEGE, CONSISTING ENTIRELY OF INDEPENDENT PERSONS. COMPENSATION FROM RELATED ORGANIZATIONS ARE REVIEWED BY THE BOARD OF SUCH ORGANIZATION. THE REVIEW AND APPROVAL PROCESS IS FULLY AND CONTEMPORANEOUSLY DOCUMENTED. THE MOST RECENT COMPENSATION REVIEW TOOK PLACE ON 8/19/20. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S CONFLICT OF INTEREST POLICY AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AND POSTED ON THE COLLEGE'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 3,140,529. POST RETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 749,358. ROUNDING -406. NYMC BIOTECHNOLOGY COMMERCIALIZATION LLC 40 SUNSHINE COTTAGE RD VALHALLA NY 10595 853713499 HOLDING COMPANY NY NYMC TOURO UNIVERSITY (CALIFORNIA) 50 WEST 47TH STREET NEW YORK NY 10036 133838740 EDUCATION CA 501(C)(3) 2 TOURO UNIVERSITY 1 NYMC LLC 50 WEST 47TH STREET NEW YORK NY 10036 271481147 MEMBER NYMC DE 501(C)(3) 12A(I) TOURO UNIVERSITY 0 NEW YORK MEDICAL COLLEGE VEBA BNY MELLON NA ONE WALL STREET 12TH NEW YORK NY 10005 133872638 RETIREMENT BENEFIT NY 501(C)(9) N/A 1 TOURO UNIVERSITY NEVADA 50 WEST 47TH STREET NEW YORK NY 10036 200363127 EDUCATION NV 501(C)(3) 2 TOURO UNIVERSITY 1 TOURO COLLEGE AND UNIVERSITY SYSTEM INC 50 WEST 47TH STREET NEW YORK NY 10036 680646771 EDUCATION NJ 501(C)(3) 2 TOURO UNIVERSITY 1 YESHIVAS OHR HACHAIM 50 WEST 47TH STREET NEW YORK NY 10036 112808947 EDUCATION NY 501(C)(3) 2 TOURO UNIVERSITY 1 RABBI DOV REVEL YESHIVA OF FOREST HILLS 50 WEST 47TH STREET NEW YORK NY 10036 111681674 EDUCATION NY 501(C)(3) 2 TOURO UNIVERSITY 1 TOURO LAW CENTER DEVELOPMENT FOUNDATION 50 WEST 47TH STREET NEW YORK NY 10036 133922718 SUPPORT ORG NY 501(C)(3) 12A(I) TOURO UNIVERSITY 1 THE PARTNERSHIP FOR A HEALTHY POPULATION 50 WEST 47TH STREET NEW YORK NY 10036 134038939 HEALTH STUDY NY 501(C)(3) 7 TOURO UNIVERSITY 1 TOURO COLLEGE BERLIN GGMBH BERLIN AM RUPERHORN 4 BERLIN GM 14055 EDUCATION GM TOURO UNIVERSITY 1 TOURO UNIVERSITY 50 WEST 47TH STREET NEW YORK NY 10036 132676570 EDUCATION NY 501(C)(3) 2 N/A 0 HEBREW THEOLOGICAL COLLEGE 7135 CARPENTER RD SKOKIE IL 60077 362167095 EDUCATION IL 501(C)(3) 2 TOURO UNIVERSITY 1 TOURO UNIVERSITY MEDICAL GROUP 1805 N CALIFORNIA ST STE 201 STOCKTON CA 95204 843416009 HEALTH CARE CA 501(C)(3) 3 TOURO UNIVERSITY (CALIFORNIA) 1 NYMC-SCHOOL OF MEDICINE FACULTY PRACTICE 40 SUNSHINE COTTAGE RD VALHALLA NY 10595 833709834 HEALTH CARE NY 501(C)(3) 10 NYMC 1 THE BIOTECHNOLOGY INCUBATOR AT NYMC INC 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 471682208 RESEARCH NY 501(C)(3) 10 NYMC 1 SARAH C UPHAM CLINIC TRUST 13 S DEARBORN IL CHICAGO IL 60603 136035800 GRANTMAKING NY 501(C)(3) PF NYMC 1 BARBARA AND WILLIAM ROSENTHAL FDN 388 GREENWICH STREET 19TH FL NEW YORK NY 10013 134148700 GRANTMAKING NY 501(C)(3) PF NYMC 1 SPEECH LANGUAGE PATHOLOGY PC 40 SUNSHINE COTTAGE ROAD NEW YORK NY 10595 720564834 HEALTH CARE NY 501(C)(3) 2 NYMC 1 CONGREGATION BAIS DAVID 141-61 71ST AVENUE KEW GARDEN HILLS NEW YORK NY 11367 112819714 RELIGIOUS NY 501(C)(3) 1 TOURO UNIVERSITY 1 TOURO SPEECH AND HEARING CLINIC INC 1602 AVENUE J BROOKLYN NY 11230 134180235 INACTIVE NY N/A C 1 TOURO FOUNDATION CORPORATION 27 WEST 23RD STREET NEW YORK NY 10036 134014618 INACTIVE NY N/A C 1 TOURO UNIVERSITY FOUNDATION 27 WEST 23RD STREET NEW YORK NY 10036 943318585 INACTIVE CA N/A C 1 TOURO COLLEGE FOUNDATION FOR JEWISH STUDIES 27 WEST 23RD STREET NEW YORK NY 10036 133629225 INACTIVE NY N/A C 1 TOURO UNIVERSITY MEDICAL ASSOCIATES 1805 N CALIFORNIA ST STE 201 STOCKTON CA 95204 843786336 HEALTH CARE CA N/A C 1 TOURO COLLEGE OF DENTAL MEDICINE FACULTY PRACTICE CORPORATION 50 WEST 47TH STREET NEW YORK NY 10036 871129539 HEALTH CARE NY N/A C 1 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 1 0 0 SARAH C UPHAM CLINIC TRUST C 364000 CASH THE BARBARA AND WILLIAM ROSENTHAL FDN C 139051 CASH SCHEDULE R, PART V TRANSACTIONS WITH RELATED ORGANIZATIONS UNDER IRC SECTIONS 512(B)(13) AND 318, ORGANIZATIONS CONTROLLED BY TOURO UNIVERSITY ARE ATTRIBUTED CONSTRUCTIVE OWNERSHIP BETWEEN THE BROTHER/SISTER RELATED ENTITIES ON SCHEDULE R. ALL TRANSACTIONS WITH DIRECTLY CONTROLLED ORGANIZATIONS ARE REPORTED ON PART V, LINE 2.