2021-05-14T06:41:34-05:00 2020-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2019-07-01 131099420 New York Medical College % ADAM HAMMERMAN NEWY 9145944470 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ADAM HAMMERMAN VP & CFO 9145941000 2021-05-13 true EVAN W SEEKAMP P01907071 2127589700 2021-05-10 2019 2022-09-23 18:48:47Z EDWARD C HALPERIN MD 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 156227187 false X WWW.NYMC.EDU X 1860 NY NEW YORK MEDICAL COLLEGE IS A HEALTH SCIENCES UNIVERSITY WHOSE PURPOSE IS TO EDUCATE PHYSICIANS, SCIENTISTS PUBLIC HEALTH SPECIALISTS AND OTHER HEALTHCARE PROFESSIONALS. 22 20 1133 1030 961978 221444 5012605 3456447 110573977 108584600 4159666 3532860 3366588 4124063 123112836 119697970 6643352 7580581 0 0 80210912 77676979 0 0 1183589 35988870 34643772 122843134 119901332 269702 -203362 321592523 318677910 144547298 141472263 177045225 177205647 X NEW YORK MEDICAL COLLEGE IS A HEALTH SCIENCES UNIVERSITY WHOSE PURPOSE IS TO EDUCATE PHYSICIANS, SCIENTISTS, PUBLIC HEALTH SPECIALISTS AND OTHER HEALTHCARE PROFESSIONALS. (SEE SCHEDULE O) false false 77907697 7580581 89831727 Professional Education: Educate individuals for careers in medical, science and health professions. 14228799 15300621 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. 3265986 5465889 Auxiliary: Campus services (housing and dining) provided to the students and the NYMC community to live and function on campus. 95402482 true true false true false false false false true true true true false false true true false true true false true false false false true false false true true true true false false false false false false false true true false true false false false false true true true false false true 528 0 true 1133 true true true false false false false true true false false false false false false X 22 20 false false false false true true true true true false false true true true true true true true true false 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 X ADAM HAMMERMAN 9145944750 40 Sunshine Cottage Road Valhalla NY 10595 X Alan Kadish President and Trustee 12.0 23.0 X X 0 844486 254899 Edward C Halperin CHANCELLOR OF HEALTH AFF & CEO 35.0 0.0 X 553618 0 57814 Jerry L Nadler MD Dean OF THE SCHOOL OF MEDICINE 35.0 0.0 X 507105 0 25821 Michael H Gewitz professor 35.0 0.0 X 451004 0 54369 Mitchell S Cairo Professor 35.0 0.0 X 411843 0 56973 Gerard M Villucci Administrator 35.0 0.0 X 382010 0 53698 Robert W Amler DEAN SHSP & VP GOV'T AFFAIRS 35.0 0.0 X 385414 0 29486 MICHAEL S GOLIGORSKY PROFESSOR 35.0 0.0 X 314465 0 60167 RICHARD G MCCARRICK VICE DEAN SCHOOL OF MEDICINE 35.0 0.0 X 293282 0 69718 Michael Newman secretary 0.0 35.0 X 0 320906 28452 Nicholas Janiga VP, CHIEF COUNSEL & ASST SEC 35.0 0.0 X 270133 0 66985 Adam Hammerman VP & CHIEF FINANCIAL OFFICER 35.0 0.0 X 246729 0 65990 Marina Holz Dean GSBMS 35.0 0.0 X 260283 0 1136 Francis Belloni Dean, GSBMS (END 6/30/17) 35.0 0.0 X 160983 0 59748 Jennifer Riekert VP Communication (End 6/30/17) 35.0 0.0 X 183914 0 18584 George Nestler AVP & Controller (End 6/30/17) 35.0 0.0 X 117481 0 31674 Rabbi Menachem Genack Trustee 0.19 34.81 X 0 80159 3344 Dr Mark Hasten Chairman & TTEE (DEC. 2/28/20) 0.38 4.62 X X 0 0 0 Robert Alter Trustee 0.81 0.0 X 0 0 0 Gary Barnett Trustee 0.0 0.0 X 0 0 0 Howard Baruch Trustee 0.42 0.0 X 0 0 0 Ben Chouake Trustee 0.38 0.62 X 0 0 0 Dee Delbello Trustee 0.23 0.0 X 0 0 0 Gary Gettenberg Trustee 0.0 0.0 X 0 0 0 Munr Kazmir Trustee 0.04 0.0 X 0 0 0 Moshe Lichtenstein Trustee 0.46 0.0 X 0 0 0 Joseph Mark Chairman & TTEE (beg 3/1/20) 0.69 0.0 X X 0 0 0 Alina Moran Trustee (END 12/31/19) 0.23 0.0 X 0 0 0 Stephen J Nicholas Trustee 0.04 0.0 X 0 0 0 Martin Oliner Trustee 0.31 0.69 X 0 0 0 Eliot Peyser Trustee 0.15 0.0 X 0 0 0 Ronald F Poe Trustee 0.85 0.0 X 0 0 0 Joseph Popack Trustee 0.23 0.0 X 0 0 0 Avi Retter Trustee 0.12 0.0 X 0 0 0 Stephen Rosenberg Trustee 0.0 1.0 X 0 0 0 Alan Rosenthal Trustee 0.12 0.0 X 0 0 0 Henry Saphier Trustee 0.42 0.0 X 0 0 0 Joseph Schwartz VICE CHAIR & TRUSTEE 0.31 0.0 X 0 0 0 ROSALYN ESTHER STAHL Trustee (END 12/31/19) 0.23 0.0 X 0 0 0 Kenneth Theobalds Trustee 0.31 0.0 X 0 0 0 4538264 1245551 938858 190 true true true Pavarini North East Construction Co 30 Oak Street Stamford CT 06905 Construction 3901038 Able Services PO BOX 39000 san francisco CA 94139 Cleaning Service 1546080 Elsevier Inc PO BOX 7247-8455 Philadelphia PA 19170 Elevator 791072 Commercial Furniture Interiors Inc 1154 Route 22 MOUNTAINSIDE NJ 07092 Furniture 504926 Hi Link Computers Corp 60 Long Ridge Road Stamford CT 06902 Computers & Software 444853 42 317934 484589 2653924 32442 3456447 Tuition and Fees 611310 67921515 67921515 RESEARCH AND SPONSORED PROJECTS 611310 19896575 19896575 AFFILIATION FEES 611310 12017545 12017545 Faculty Practice Plans 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1600400 1500 Dues and Memberships 410699 223286 180756 6657 Catering and Food Service 387772 202903 149634 35235 727117 460586 204489 62042 119901332 95402482 23315261 1183589 1565366 1630290 10794608 9569056 2782431 3134234 12755590 10324188 0 0 0 0 7268591 6724208 114286 114286 926188 910964 257450510 79009927 180360682 178440583 76303241 74745390 18171483 17279552 0 0 10200000 10200000 350057 5605159 321592523 318677910 26916694 23832133 0 0 14147436 16463426 45897262 45748949 2000356 1834194 0 0 21441623 25122509 0 0 34143927 28471052 144547298 141472263 X 114911674 116003140 62133551 61202507 177045225 177205647 321592523 318677910 X -203362 -723858 1087642 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 73575 false true 1503 75078 false SCHEDULE C, PART II-B, LINE 1 NEW YORK MEDICAL COLLEGE RETAINED THE LAW FIRM OF HINMAN STRAUB, 121 STATE STREET, ALBANY, NEW YORK. CONSIDERATION OF $73,575 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 AND AAMC, A PORTION OF WHICH ARE ATTRIBUTABLE TO LOBBYING. false true X 70675557 52194 1593773 3380799 150927 68789798 70345328 200408 3659952 3312320 217811 70675557 66284782 1687842 5438747 2958787 107256 70345328 62771921 986954 4806356 2276230 4219 66284782 66345921 288000 -1125000 2593000 144000 62771921 0.43360 0.30560 0.26080 false false 23984286 23984286 181900437 47611493 134288944 390466 250445 140021 27394006 19266815 8127191 23781315 11881174 11900141 178440583 ALTERNATIVE INVESTMENTS 3762880 F BEN INT IN PERPETUAL TRUSTS 12093639 F OTHER PARTNERSHIP INVESTMENTS 1270037 F REAL ESTATE PARTNERSHIPS 152996 F 17279552 0 TAXABLE BONDS 25709058 REFUNDABLE FED STUDENT LOANS 1719232 OTHER LIABILITIES 272520 PAYABLE TO BIOINC 770242 28471052 X 116865695 -723858 -4718731 -5442589 122308284 213413 -2823727 -2610314 119697970 116606148 3060345 3060345 113545803 213413 6142116 6355529 119901332 SCHEDULE D, PART IV, LINE 2B AMOUNTS REPRESENT TUITION PAYMENTS RECEIVED IN ADVANCE AND HELD IN ESCROW BY THE COLLEGE. Schedule D, Part V, Line 4 THE COLLEGE ENDOWMENT CONSISTS OF APPROXIMATELY 114 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. Schedule D, 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, 2020, 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. Schedule D, Part XI, Line 2d CHANGE IN FMV IN PERPETUAL TRUST -273,959 REVENUE FROM CONSOLIDATED ORGANIZATION 335,743 POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 1,361,601 SCHOLARSHIPS -5,735,428 TUITION REMISSION -406,688 --------------- total schedule d, part xi, line 2d -4,718,731 Schedule D, Part XI, Line 4b RENTAL EXPENSES -2,726,461 SPECIAL EVENT EXPENSES -97,266 --------------- -2,823,727 Schedule D, Part XII, Line 2d RENTAL EXPENSES 2,726,461 SPECIAL EVENT EXPENSES 97,266 EXPENSES FROM CONSOLIDATED ORGANIZATION 236,618 --------------- 3,060,345 Schedule D, Part XII, Line 4b SCHOLARSHIPS 5,735,428 TUITION REMISSION 406,688 --------------- 6,142,116 true true true true true true true false false false false false false false false true false true Form 990, Schedule E, Part II 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 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. Central America and the Caribbean Investments 3762880 3762880 3762880 true false true true false true Schedule F, Part I, Line 3 THE INVESTMENTS LISTED ON PART I ARE REPORTED AT FAIR MARKET VALUE. 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 Founders Dinner 386375 317934 68441 20680 31353 3900 41333 0 386375 317934 68441 20680 31353 3900 41333 97266 -28825 true Open Door Family Medical Center 165 Main Street ossining NY 10562 132813103 501(C)(3) 246036 RESEARCH Oregon Health and Science University 2525 SW 3rd Ave STE 245 Portland OR 97201 931176109 OREGON 198012 RESEARCH John Hopkins University 3910 Keswick Road Baltimore MD 21211 520595110 501(C)(3) 29811 RESEARCH Medical College of Wisconsin 8701 Watertwon Plank RD Milwaukee WI 52326 390806261 501(C)(3) 15698 RESEARCH RESEARCH RESEARCH Research Inst at Nationwide Children's HPL 700 Childrens Drive Columbus OH 43205 316056230 501(C)(3) 11500 RESEARCH RESEARCH RESEARCH Baystate Medical Center Inc 759 Chestnut Street Springfield MA 01199 042790311 501(C)(3) 34701 RESEARCH RESEARCH RESEARCH Baylor College of Medicine One Baylor Plaza 8701 WATERTOWN PLANK RD Houston TX 77030 741613878 501(C)(3) 19657 RESEARCH RESEARCH RESEARCH Children's Hospital of Los Angeles 4650 Sunset Blvd Los Angeles CA 90027 951690977 501(C)(3) 8951 RESEARCH RESEARCH RESEARCH Tufts Medical Center 800 Washington Street 453 boston MA 02111 270440772 501(C)(3) 36421 RESEARCH RESEARCH RESEARCH University of Texas Southwestern Med Center 5323 Harry Hines Blvd MC 929 Dallas TX 75390 756002868 texas 179563 RESEARCH RESEARCH RESEARCH Regents University of Michigan 5050 Wolverine Tower MC 929 Ann Arbor MI 48109 386006309 501(C)(3) 147801 RESEARCH RESEARCH RESEARCH Albert Einstein College of Medicine 1300 Morris Park Avenue Bronx NY 10461 131624225 501(C)(3) 43956 RESEARCH RESEARCH RESEARCH Westchester County Health Care Corp 100 Woods Road Valhalla NY 10595 133964321 westchester 173920 RESEARCH RESEARCH RESEARCH Regents University of California LA 55 Folsom Street San Francisco CA 94143 946036493 501(C)(3) 16006 RESEARCH RESEARCH Marshall University Research Corp 401 11th Street Huntington WV 25701 550683361 501(C)(3) 12187 RESEARCH RESEARCH Dana-Farber Cancer Institute Inc 450 Brookline Avenue Boston MA 02215 042263040 501(C)(3) 10854 RESEARCH RESEARCH Westchester Medical Center 100 Woods Road Valhalla NY 10595 134095845 501(C)(3) 10200 RESEARCH AUGUSTA UNIVERSITY RESEARCH INSTITUTE INC 1120 15TH STREET CJ3301 AUGUSTA GA 30912 581418202 501(C)(3) 52356 RESEARCH 18 0 Scholarships & Grants 509 6142116 CARES ACT - HEERF AID TO STUDENTS 869 186835 SCHEDULE I, 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 2019-20 academic year, funding from the Coronavirus Aid, Relief and Economic Security Act (CARES Act) provided students with $186,835 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 true true X X X false true false false false false false true false Alan Kadish President and Trustee 0 842902 0 0 0 1584 0 93998 0 160901 0 1099385 0 0 Francis Belloni Dean, GSBMS (END 6/30/17) 157024 0 880 0 3079 0 19238 0 40510 0 220731 0 0 0 Jennifer Riekert VP Communication (End 6/30/17) 182738 0 1000 0 176 0 15285 0 3299 0 202498 0 0 0 Michael Newman secretary 0 320354 0 0 552 0 6515 0 21937 0 349358 0 0 George Nestler AVP & Controller (End 6/30/17) 89480 0 0 0 28001 0 9559 0 22115 0 149155 0 0 0 Jerry L Nadler MD Dean OF THE SCHOOL OF MEDICINE 464872 0 0 0 42233 0 0 0 25821 0 532926 0 0 0 Marina Holz Dean GSBMS 260000 0 0 0 283 0 0 0 1136 0 261419 0 0 0 Robert W Amler DEAN SHSP & VP GOV'T AFFAIRS 357604 0 5000 0 22810 0 26524 0 2962 0 414900 0 0 0 Edward C Halperin CHANCELLOR OF HEALTH AFF & CEO 530808 0 0 0 22810 0 26524 0 31290 0 611432 0 0 0 Nicholas Janiga VP, CHIEF COUNSEL & ASST SEC 269858 0 0 0 275 0 26565 0 40420 0 337118 0 0 0 Adam Hammerman VP & CHIEF FINANCIAL OFFICER 227349 0 0 0 19380 0 24287 0 41703 0 312719 0 0 0 Mitchell S Cairo Professor 408033 0 0 0 3810 0 26431 0 30542 0 468816 0 0 0 Michael H Gewitz professor 445021 0 0 0 5983 0 35280 0 19089 0 505373 0 0 0 Gerard M Villucci Administrator 381320 0 0 0 690 0 26524 0 27174 0 435708 0 0 0 MICHAEL S GOLIGORSKY PROFESSOR 307885 0 400 0 6180 0 36030 0 24137 0 374632 0 0 0 RICHARD G MCCARRICK VICE DEAN SCHOOL OF MEDICINE 289472 0 0 0 3810 0 36030 0 33688 0 363000 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE JERRY NADLER, DEAN OF THE SCHOOL OF MEDICINE, HAS A TAXABLE HOUSING ALLOWANCE FROM NEW YORK MEDICAL COLLEGE. SCHEDULE J, 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. SCHEDULE J, PART I, LINE 7 nonfixed payments DISCRETIONARY BONUSES WERE PAID DURING CALENDAR YEAR 2019, AS REPORTED IN COLUMN (B)(II). A Dormitory Authority of the State of New York 2014A 146000293 649907M82 2014-06-26 59716460 CONSTRUCTION AND REAL ESTATE ACQ. false false true A 450000 0 48338203 4730508 3932790 0 900851 0 0 38774054 0 0 2014 false false true true A false false true true false 0 false false false true A false false false true false false 0 false 0 false true A true 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 44 substantial contributor 199265 Affiliation Fees false SUBSTANTIAL CONTRIBUTOR 52 substantial contributor 3129488 construction Fees false Kristen Nestler Former Officer's Daughter 61046 Employee at the College false SUBSTANTIAL CONTRIBUTOR 62 External Auditor 282427 Auditing Fees false substantial contributor 14 substantial contributor 669195 Rent/Services false X 5 32442 FMV false true false Schedule M, Line 9, Column B The number listed in Part I, Column (B), is the number oF contributions. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 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. ORGANIZATION MEMBERS 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 REVIEW 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 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. CONFLICT OF INTEREST REVIEW 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. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINES 15A AND 15B 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. DOCUMENT AVAILABILITY FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGES ANNUAL REPORT, THE CONFLICT OF INTEREST POLICY AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AND POSTED ON THE COLLEGES WEBSITE. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST (273,959) POST RETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 1,361,601 ------------ TOTAL OTHER CHANGES IN NET ASSETS 1,087,642 Touro University california 500 7TH AVE NEW YORK NY 10018 133838740 EDUCATION CA 501 (C)(3) 2 TOUROCOLLEGE true NYMC LLC 500 7TH AVE NEW YORK NY 10018 271481147 member nymc DE 501 (C)(3) 12a(i) tourocollege false New York Medical College VEBA BNY MELLON NA ONE WALL STREET NEW YORK NY 10005 133872638 RETIREE BENEF NY 501(C)(9) NA true Touro University Nevada 500 7TH AVE NEW YORK NY 10018 200363127 EDUCATION NV 501 (C)(3) 2 TOUROCOLLEGE true TOURO COLLEGE and UNIVERSITY SYSTEM INC 500 7TH AVE NEW YORK NY 10018 680646771 EDUCATION NJ 501 (C)(3) 2 TOUROCOLLEGE true Yeshivas OHR Hachaim 500 7TH AVE NEW YORK NY 10018 112808947 EDUCATION NY 501 (C)(3) 2 TOUROCOLLEGE true Rabbi Dov Revel Yeshiva of Forest Hills 500 7TH AVE NEW YORK NY 10018 111681674 EDUCATION NY 501 (C)(3) 2 TOUROCOLLEGE true Touro Law Center Development Foundation 500 7TH AVE NEW YORK NY 10018 133922718 EDUCATION NY 501 (C)(3) 12A(I) TOUROCOLLEGE true The Partnership For A Healthy Population 500 7TH AVE NEW YORK NY 10018 134038993 HEALTH STUDY NY 501 (C)(3) 7 TOUROCOLLEGE true Touro College Berlin GGMBH Berlin AM RUPERHORN 4 BERLIN GM 14055 EDUCATION GM TOUROCOLLEGE true Touro College 500 7TH AVE NEW YORK NY 10018 132676570 EDUCATION NY 501 (C)(3) 2 NA false The Biotechnology Incubator At NYMC Inc 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 471682208 RESEARCH NY 501 (C)(3) 10 NYMC true Hebrew Theological College 7135 CARPENTER RD SKOKIE IL 60077 362167095 EDUCATION IL 501 (C)(3) 2 TOUROCOLLEGE true BARBARA AND WILLIAM ROSENTHAL FDN 388 GREENWICH STREET 19TH FL new york NY 10013 134148700 grantmaking NY 501 (c)(3) pf nymc true TOURO UNIVERSITY MEDICAL GROUP 1805 N CALIFORNIA ST STE 201 STOCKTON CA 95204 843416009 health care CA 501(C)(3) 3 touro uni ca true NYMC-SCHOOL OF MEDICINE FACULTY PRACTICE 40 SUNSHINE COTTAGE RD VALHALLA NY 10595 833709834 health care NY 501(C)(3) 10 nymc true SARAH C UPHAM CLINIC TRUST 10 S DEARBORN IL CHICAGO IL 60603 136035797 GRANTMAKING NY 501(C)(3) PF NYMC true TOURO SPEECH AND HEARING CLINIC INC 27 WEST 23RD STREET NEW YORK NY 10010 134180235 INACTIVE NY NA C Corp true TOURO FOUNDATION CORPORATION 27 WEST 23RD STREET NEW YORK NY 10010 134014618 INACTIVE NY NA C Corp true TOURO UNIVERSITY FOUNDATION 27 WEST 23RD STREET NEW YORK NY 10010 943318585 INACTIVE CA NA C Corp true TOURO COLLEGE FND FOR JEWISH STUDIES 500 7TH AVE new york NY 10018 133629225 inactive NY na c corp true TOURO UNIVERSITY MEDICAL ASSOCIATES 1805 n california st ste 201 stockton CA 95204 843786336 health care CA NA C CORP true false false true false false false false false false true false true false true true true true false true Sarah C Upham Clinic Trust C 364000 cash THE BARBARA AND WILLIAM ROSENTHAL FDN C 125800 CASH SCHEDULE R, PART V TRANSACTIONS WITH RELATED ORGANIZATIONS UNDER IRC SECTIONS 512(B)(13) AND 318, ORGANIZATIONS CONTROLLED BY TOURO COLLEGE 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.