2021-05-13T10:33:55-05:00 2020-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2019-07-01 132676570 TOURO COLLEGE % STUART LIPPMAN CONTROLLER TOUR 6465656000 500 SEVENTH AVENUE NEW YORK NY 10018 MELVIN NESS SENIOR VP AND CFO 6465656026 2021-05-12 true EVAN W SEEKAMP P01907071 2127589700 2021-05-12 2019 2022-09-23 18:48:47Z MELVIN NESS 500 SEVENTH AVENUE NEW YORK NY 10018 329422126 false X WWW.TOURO.EDU X 1970 NY THE COLLEGE'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER AND PROFESSIONAL EDUCATION. (SEE SCHEDULE O) 23 15 3725 350 5872 7995275 14230332 270544008 283435761 1582038 846057 28577875 23464454 308699196 321976604 33784312 38199246 0 0 167182900 178132463 0 0 1971806 108821885 104845672 309789097 321177381 -1089901 799223 434472731 558489117 232388075 356638670 202084656 201850447 X THE COLLEGE'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER AND PROFESSIONAL EDUCATION. 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Medicine- END 6/18 35.0 0.0 X 252737 0 14975 Marian Stoltz-Loike VP, Online Education-END 6/18 35.0 0.0 X 241249 0 24880 Nadia Graff VP Grad & Prof Stud.-end 6/18 35.0 0.0 X 240480 0 14524 Richard Braunstein VP Deputy Gen. Couns.-END 6/18 23.0 12.0 X 218434 0 29267 Jerome Dimperio VP Real Estate Const.-END 1/18 35.0 0.0 X 219481 0 14960 Robert Goldschmidt VP Planning & Assess.-end 6/18 35.0 0.0 X 166562 0 47144 Alan Ciner Vice President - END 6/18 35.0 0.0 X 129720 0 58887 Stanley Boylan VP of Undergrad. Ed.-END 6/18 34.0 1.0 X 132399 0 55101 Israel Singer Vice President -END 6/18 35.0 0.0 X 123962 0 16662 Rabbi Menachem Genack Trustee and Faculty 25.0 10.0 X 27143 53016 3344 Abraham Biderman Trustee 0.8 0.2 X 0 0 0 Shmuel Braun trustee 0.8 0.2 X 0 0 0 Ben Chouake trustee 0.32 0.68 X 0 0 0 Allen Fagin Trustee 0.8 0.2 X X 0 0 0 Howard Friedman Trustee 0.8 0.2 X 0 0 0 Gilles Gade trustee 0.8 0.2 X 0 0 0 Solomon Goldfinger trustee 0.8 0.2 X 0 0 0 Abraham Gutnicki trustee 0.8 0.2 X 0 0 0 Mark Hasten CHAIRMAN & TRUSTEE (DEC. 2/20) 1.0 3.5 X 0 0 0 Leah Karfunkel trustee (END 3/20) 0.8 0.2 X 0 0 0 Brian Levinson trustee 0.8 0.2 X 0 0 0 David Lichtenstein trustee 0.7 0.3 X 0 0 0 Martin Oliner trustee 0.39 0.61 X 0 0 0 Lawrence Platt Trustee 0.8 0.2 X 0 0 0 Margaret Retter turstee 0.8 0.2 X 0 0 0 Stephen Rosenberg Trustee 0.8 0.2 X 0 0 0 Zvi Ryzman Chairman & Trustee 2.0 3.0 X 0 0 0 Israel Sendrovic trustee 0.8 0.2 X 0 0 0 Gary Torgow trustee - beg 3/20 0.8 0.2 X 0 0 0 Jack Weinreb trustee 0.8 0.2 X 0 0 0 Rabbi Shabsai Wolfe Trustee 0.8 0.2 X 0 0 0 Steven Zuller Trustee - beg 6/20 0.8 0.2 X 0 0 0 7557236 336694 1249749 293 true true false EXCEL GUARD CORP 505 EIGHTH AVENUE SUITE 1700 NEW YORK NY 10018 SECURITY GUARDS 3656110 Ellucian Company LP 62590 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 COMPUTER SERVICES 2048869 HUDSON RIVER CIO ADVISORS LLC 17 SKYLINE DRIVE HAWTHORNE NY 10532 CONSULTING 1979817 OUTFRONT MEDIA INC PO BOX 33074 NEWARK NJ 071880074 ADVERTISING 946500 KPMG LLP DEPT 0511 POB 150511 DALLAS TX 753120511 aCCOUNTING SERVICES 750900 81 235315 9984673 4010344 14230332 Student Tuition/ Fees 611600 280410160 280410160 Dorm Fees 611600 3025601 3025601 283435761 890756 5872 884884 0 0 200447 200447 0 200447 200447 7288988 7333687 -44699 -44699 -44699 41385 235315 111835 -70450 -70450 0 0 0 0 0 0 ACADEMIC SUPPORT 900099 19138909 19138909 CLINIC PATIENT INCOME 900099 2267614 2267614 CAFETERIA INCOME 900099 249612 249612 1678322 1678322 23334457 321976604 304502604 5872 3237796 1825000 1825000 35895149 35895149 479097 479097 0 5061732 2708209 2266161 87362 926313 826848 92495 6970 136080630 123278680 11827239 974711 3939121 3516149 393331 29641 22776782 20331075 2274315 171392 9347885 8344136 933408 70341 0 966058 862326 96463 7269 742828 742828 182948 163303 18268 1377 0 336946 300766 33645 2535 6901987 6160871 689180 51936 5395442 4816094 538748 40600 3218287 2683396 513533 21358 7279272 6497644 726853 54775 0 36733898 32789515 3667967 276416 1570210 1401605 156789 11816 0 188775 168505 18850 1420 161751 161751 0 16638840 14852208 1661428 125204 1264661 1128866 126279 9516 Educational Programs Expense 12918952 12918952 STUDENT ACTIVITIES 4398624 4398624 BAD DEBT EXPENSE 1376011 1376011 DUES, SUB & MEMBERSHIP 1088173 971328 108657 8188 3482009 3211186 251844 18979 321177381 291905543 27300032 1971806 X 21305104 28161115 0 0 5485034 4583500 9576834 16221992 49700 49700 0 0 16113044 18799690 0 0 4873717 6606538 426072650 167307642 268855496 258765008 45626999 59576793 646010 709398 0 0 4300000 3765000 57640793 161250383 434472731 558489117 39056824 49766326 0 0 31157889 34795010 132806978 131737436 0 0 1544000 1544000 23319265 21810955 0 0 4503119 116984943 232388075 356638670 X 191115694 189845778 10968962 12004669 202084656 201850447 434472731 558489117 X 799223 -785293 -248139 X false true X true true true X 19730763 13518576 9715635 7995275 14230332 65190581 0 0 19730763 13518576 9715635 7995275 14230332 65190581 0 65190581 1076851 1246412 1109374 1623335 1091203 6147175 6455 6455 0 437484 0 2557415 2267614 5262513 76606724 1406817513 0.85098 0.80942 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 182948 false false 182948 false OTHER ACTIVITIES FORM 990, SCHEDULE C, PART II-B, LINE 1(G) THE COLLEGE HIRED LOBBYISTS TO ASSIST IN OBTAINING APPROVAL FROM FEDERAL AND STATE AGENCIES TO ENHANCE THE FACILITIES AND PROGRAMS OF THE COLLEGE. THE COLLEGE OR ITS REPRESENTATIVES MAY MEET WITH LEGISLATORS TO DISCUSS CERTAIN GRANTS. 455063 X false 40342144 500000 790321 3014380 38618085 55160900 2594690 2255378 1256278 570226 17842320 40342144 22550386 32172451 1371878 616767 196132 120916 55160900 20684606 1053472 1975996 283300 216455 663933 22550386 20587634 1458849 -562780 85075 129388 584634 20684606 0.91160 0.07150 0.01690 false false 15838576 15838576 248597288 64822787 183774501 68308626 39894996 28413630 47707499 30097304 17610195 45620661 32492555 13128106 258765008 RIGHT OF USE ASSETS 109562796 DUE FROM/TO AFFILIATES, NET 38331153 ESCROW DEPOSIT MTI BONDS 7753033 DEPOSIT ON NEW FACILITY 3604913 OTHER LONG TERM ASSETS 1543425 ARTWORK 455063 161250383 0 OPERATING LEASE LIABILITIES 113134625 OTHER LIABILITIES 1379004 TUITION ESCROW 1353676 STUDENT DEPOSITS 1081532 SALE LEASEBACK 65TH ST 36106 116984943 X COLLECTION OF ART AND RELIGIOUS OBJECTS Form 990, Schedule D, Part III, Line 1a A COLLECTION OF ART AND RELIGIOUS OBJECTS ACQUIRED SINCE INCEPTION THROUGH PURCHASES, CONTRIBUTIONS AND LONG TERM LOANS ARE INSURED FOR APPROXIMATELY $1,813,000 INCLUDING APPROXIMATELY $300,000 RELATED TO RELIGIOUS OBJECTS ON LOAN. RECORDS OF THE COST OF PURCHASED ITEMS OR OF THE FAIR VALUE AS OF THE DATE OF CONTRIBUTIONS ARE NOT AVAILABLE IN MANY INSTANCES, AND THE COLLEGE HAS DETERMINED THAT IT WOULD NOT BE PRACTICAL TO RETROACTIVELY CAPITALIZE ITS COLLECTION. RELIGIOUS ARTWORK Form 990, Schedule D, Part III, Line 4 TOURO MAINTAINS ARTWORK AT VARIOUS LOCATIONS. A PORTION OF THE ARTWORK REPRESENTS RELIGIOUS ARTIFACTS USED IN WEEKLY RELIGIOUS SERVICES. OTHER ARTWORK IS USED TO BEAUTIFY THE FACILITIES TO ENHANCE STUDENT AND FACULTY ACCEPTANCE OF THEIR SURROUNDINGS. ENDOWMENT FUNDS Form 990, Schedule D, Part V, Line 4 TO PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS, TO ADD OR IMPROVE FACILITIES, TO FUND RESEARCH AND PROVIDE ADDITIONAL PROGRAM FUNDS. ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES Form 990, Schedule D, Part X, Line 2 THE COLLEGE SUBSCRIBES 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 AND 2019, 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. true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY FORM 990, SCHEDULE E, PART I, LINE 3 BROCHURES AND CATALOGS DISTRIBUTED TO STUDENTS AND RECRUITMENT ADVERTISEMENTS IN JOURNALS AND NEWSPAPERS, AS WELL AS ON TV, INTERNET AND THE RADIO, CONTAIN STATEMENTS WITH RESPECT TO TOURO COLLEGE'S RACIALLY NONDISCRIMINATORY POLICY. EXPLANATION OF GOVERNMENTAL FINANCIAL AID FORM 990, SCHEDULE E, PART I, LINE 6A GOVERNMENT CONTRIBUTIONS (GRANTS) OF $9,984,673. STUDENTS ATTENDING THE COLLEGE MAY ALSO BE ELIGIBLE FOR FEDERAL FINANCIAL AID INCLUDING STUDENT LOANS. ADDITIONALLY, THE COLLEGE RECEIVED GRANTS FROM THE GOVERNMENT FOR RESEARCH AND FACILITY IMPROVEMENTS. true Europe (Including Iceland and Greenland) 1 22 Program Services EDUCATION 2399745 Middle East and North Africa 1 28 Program Services EDUCATION 1616108 Russia and the Newly Independent States 2 Program Services EDUCATION 223328 Europe (Including Iceland and Greenland) 36 Grantmaking 389005 Middle East and North Africa 34 Grantmaking 90092 4 120 4 120 4718278 4718278 Europe (Including Iceland and Greenland) education 389005 1 Scholarships Middle East and North Africa 28 90092 true false true false false true OPERATIONS REVIEW Form 990, Schedule F, Part I, Line 2 PERIODIC SITE VISITS BY COLLEGE ADMINISTRATORS AND FACULTY REVIEW LOCAL OPERATIONS. SIGNIFICANT OPERATIONS HAVE REVIEWS BY LOCAL INDEPENDENT AUDITORS. STUDENTS ARE AWARDED TUITION DISCOUNTS BASED ON VARIOUS CRITERIA. THE DISCOUNTS ARE CREDITED TO THE STUDENT'S ACCOUNTS. NY DENTAL DINNER 276700 235315 41385 25500 31915 54420 0 276700 235315 41385 25500 31915 54420 111835 -70450 true HEBREW THEOLOGICAL COLLEGE (HTC) 7135 NORTH CARPENTER ROAD SKOKIE IL 60077 362167095 501(C)(3) 1825000 EDUCATION 1 Scholarships 4793 32115794 HEERF FUNDING 7079 3779355 MONITORING GRANTS FORM 990, SCHEDULE I, PART I, LINE 2 SINCE ITS INCEPTION, MANAGEMENT REVIEWS REQUESTS FOR GRANTS. THE COLLEGE MONITORS ALL REQUESTS FOR USE OF GRANT FUNDS AGAINST THE SUBMITTED BUDGETS FOR THE RESPECTIVE GRANTS. PRIOR TO SUBMISSION OF REQUESTS FOR REIMBURSEMENT, ADDITIONAL REVIEW OF EXPENDED FUNDS IS PERFORMED TO ENSURE COMPLIANCE WITH GRANT AND COLLEGE GUIDELINES. STUDENTS ARE AWARDED TUITION DISCOUNTS BASED ON VARIOUS CRITERIA. THE DISCOUNTS ARE CREDITED TO THE STUDENT'S ACCOUNTS. X X X X false true X X X false true false false false false false false false Alan Kadish President, CEO and Trustee 842902 0 1584 93998 0 160901 0 1099385 0 0 0 Rabbi Daniel Lander Trustee and Chancellor 96471 167555 1274 0 8920 0 115749 97745 292224 0 0 Salomon Amar Vice President 223418 169139 819 0 9436 0 31728 224237 210303 0 0 Matthew Bonilla VP of Student Serv.-END 6/18 255697 0 240 13840 0 26143 0 295920 0 0 0 Stanley Boylan VP of Undergrad. Ed.-END 6/18 129820 0 2579 6991 0 48110 0 187500 0 0 0 Richard Braunstein VP Deputy Gen. Couns.-END 6/18 216977 0 1457 11675 0 17592 0 247701 0 0 0 Alan Ciner Vice President - END 6/18 127063 0 2657 0 0 58887 0 188607 0 0 0 David Forstein Dean, TouroCom 377752 0 1032 14000 0 33130 0 425914 0 0 0 Robert Goldschmidt VP Planning & Assess.-end 6/18 163149 0 3413 8972 0 38172 0 213706 0 0 0 Nadia Graff VP Grad & Prof Stud.-end 6/18 235890 0 4590 11795 0 2729 0 255004 0 0 0 Moshe Krupka Executive VP 204857 0 894 10671 0 134358 0 350780 0 0 0 Melvin Ness Senior VP, CFO 337073 0 4944 14000 0 2864 0 358881 0 0 0 Michael Newman Secretary, Sr. VP and Gen Coun 320354 0 552 6515 0 21937 0 349358 0 0 0 Louis Primavera Dean, School of Health Science 256840 0 4944 12485 0 2864 0 277133 0 0 0 Patricia Salkin Provost Grad and Prof Schools 456870 0 992 14000 0 32096 0 503958 0 0 0 Israel Singer Vice President -END 6/18 121836 0 2126 0 0 16662 0 140624 0 0 0 Franklin Steen VP of Technology -END 6/18 237118 0 4928 12565 0 21706 0 276317 0 0 0 Marian Stoltz-Loike VP, Online Education-END 6/18 239797 0 1452 12231 0 12649 0 266129 0 0 0 Henry COHEN Dean, Pharmacy 263055 0 14000 0 68446 0 345501 0 0 0 Judah Weinberger VP Collab. Medicine- END 6/18 251538 0 1199 12577 0 2398 0 267712 0 0 0 Jerome Dimperio VP Real Estate Const.-END 1/18 218219 0 1262 12485 0 2475 0 234441 0 0 0 Ronnie Myers Dean, Dental School 352692 0 3048 14000 0 2864 0 372604 0 0 0 Kenneth Steier Dean, COL OF OSTEOPATHIC MED 426814 0 1584 14000 0 32054 0 474452 0 0 0 Barbara Capozzi Clinical Dean TouroCom 264976 0 11740 0 10276 0 286992 0 0 0 Harold Abramson Dean, Lander Col. of Arts & SC 249857 0 4786 12910 0 11652 0 279205 0 0 0 Arthur Prancan Associate Professor 261171 0 4944 13768 0 32096 0 311979 0 0 0 Edward F Farkas Vice Dean, Touro Dental School 336042 0 1538 14000 0 26143 0 377723 0 0 0 Jeffrey Rosengarten Senior VP of Oper. & Admin. 308474 0 3048 14000 0 2864 0 328386 0 0 0 Paul Glasser VP Institutional Advancement 271271 0 0 0 62424 0 333695 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A TRAVEL THE PRESIDENT AND SOME OF THE OFFICERS ARE PROVIDED WITH NONTAXABLE UPGRADED TRAVEL AND SPOUSAL TRAVEL ON CERTAIN TRIPS. Housing Allowance or Residence for personal use THE PROVOST OF THE GRADUATE AND PROFESSIONAL SCHOOLS is PROVIDED HOUSING AS A TAXABLE BENEFIT. THE VALUE OF THE HOUSING BENEFITS ARE INCLUDED AS OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN B(III). THE PRESIDENT IS PROVIDED A CORPORATE APARTMENT AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE COLLEGE. THE VALUE OF THE HOUSING BENEFIT FOR THE PRESIDENT IS INCLUDED AS A NONTAXABLE BENEFIT IN SCHEDULE J, PART II, COLUMN D. PERSONAL SERVICES THE PRESIDENT WAS PROVIDED WITH A CAR AND DRIVER FOR BUSINESS PURPOSES. THE VALUE OF THIS SERVICE IS INCLUDED AS A NONTAXABLE BENEFIT IN SCHEDULE J, PART II, COLUMN D. BOARD APPROVAL FORM 990, SCHEDULE J, PART I, LINE 1B THE BENEFITS PROVIDED TO THE PRESIDENT ARE APPROVED BY THE BOARD. BENEFITS PROVIDED TO THE OFFICERS ARE APPROVED BY THE PRESIDENT. NONQUALIFIED DEFERRED COMPENSATION PLAN FORM 990, SCHEDULE J, PART I, LINE 4B TOURO COLLEGE'S PRESIDENT PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN; AMOUNTS IN COLUMN (C) INCLUDE A DEFERRAL OF $62,500. NONTAXABLE BENEFITS FORM 990, SCHEDULE J, PART II, COLUMN D NONTAXABLE BENEFITS, AS APPLICABLE, INCLUDE QUALIFIED TUITION REDUCTION, PARSONAGE ALLOWANCES AND QUALIFIED BENEFITS UNDER TOURO'S CAFETERIA PLAN. CERTAIN INDIVIDUALS ARE REQUIRED TO LIVE IN COLLEGE PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE COLLEGE; AS SUCH THOSE HOUSING AMOUNTS ARE NONTAXABLE. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2013A 146000293 000000000 2013-12-18 19520000 REFINANCE TAXABLE LOAN false false false B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014A 146000293 649907M82 2014-06-26 59716460 RENOVATE FACILITIES false false true C DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014 146000293 000000000 2014-10-22 41475000 REFINANCE TAXABLE LOAN false false false D DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2017 146000293 6499OH6X3 2017-12-28 69869223 ACQUIRE BUILDING false false false A 2059780 0 19520000 0 0 0 386587 0 0 19133413 0 0 2006 false false true true B 770000 0 11395326 816735 311858 0 227803 0 0 10038930 0 0 2014 false false true true C 5090000 0 41475000 0 0 0 826365 0 0 0 40648635 0 2007 true false true true D 0 0 69935238 6276128 4759697 0 1397384 0 0 57502029 0 0 2019 false false false true A false false true true false 0 false false false true B false false true true false 0 false false false true C false false true true false 0 false false false true D false false true true false 0 false false false true A false false true false true true PEOPLES UNITED BANK 10. false false false 0 false true B false false false true false false 0 false 0 false true C false false true false true false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D true DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014A PART I, LINE B - ISSUE PRICE (E) DOES NOT TIE TO PART II, COLUMN B, LINE 3 AS THE ISSUE IS A POOLED FINANCING. $10,805,000 PAR BENEFITS TOURO COLLEGE. THE OTHER BENEFICIARY OF THE POOLED FINANCING IS NEW YORK MEDICAL COLLEGE. DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2017 PART II, COLUMN D, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. SCHEDULE K, PART III, LINE 3B ANY MANAGEMENT OR SERVICE CONTRACTS THAT MAY RESULT IN PRIVATE BUSINESS USE OF BOND-FINANCED PROPERTY ARE INCIDENTAL AND/OR FALL UNDER A SAFE HARBOR PROVIDED. SCHEDULE K, PART IV, LINE 2B THE SERIES 2013A AND 2014 (COLUMNS (A) AND (C)) BOND PROCEEDS HAVE BEEN SPENT. A SPENDING EXCEPTION WAS MET, AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE CALCULATIONS ARE NECESSARY. SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (B) ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014A DATE THE REBATE COMPUTATION WAS PERFORMED: 05/31/2019 SHELDON WOLFE TRUSTEE SUPPORT TOURO COLLEG X 1560000 1544000 false false true OFFICERSKEY EMPLOYEES VARIOUS POSITIONS PAYROLL ADVANCE X 49700 49700 false true false 1593700 RICHARD WAXMAN TRUSTEE'S brother in law 168079 EMPLOYEE COMPENSATION false DAVID MIRSKY TRUSTEE'S son in law 121897 EMPLOYEE COMPENSATION false SHERRY KRUPKA OFFICER'S SISTER 110684 EMPLOYEE COMPENSATION false DEBRA WAXMAN TRUSTEE'S SISTER 70286 EMPLOYEE COMPENSATION false WILLIAM FISCHBEIN TRUSTEE'S brother in law 67192 EMPLOYEE COMPENSATION false RAPHAEL CSILLAG TRUSTEES SON IN LAW 66923 EMPLOYEE COMPENSATION false EDNA DAVIS FMR OFCR'S SISTER IN LAW 61495 EMPLOYEE COMPENSATION false ERIC GENACK TRUSTEE'S SON 57397 EMPLOYEE COMPENSATION false MOSHE FRIEDMAN TRUSTEE'S GRANDSON 57200 EMPLOYEE COMPENSATION false ESTHER BOYLAN fmr OFCR'S SPOUSE 54902 EMPLOYEE COMPENSATION false PHYLLIS LANDER TRUSTEE'S SPOUSE 54873 EMPLOYEE COMPENSATION false benzion krupka OFFICER'S BROTHER 35385 EMPLOYEE COMPENSATION false IMPACT OF COVID-19 IN MARCH 2020, THE WORLD HEALTH ORGANIZATION DECLARED THE NOVEL CORONAVIRUS (COVID-19) A PANDEMIC. THE OUTBREAK OF THE DISEASE HAS AFFECTED TRAVEL, COMMERCE AND FINANCIAL MARKETS GLOBALLY, INCLUDING IN THE UNITED STATES. THE CONTINUED SPREAD OF COVID-19 AND ITS IMPACT ON SOCIAL INTERACTION, TRAVEL, ECONOMIES AND FINANCIAL MARKETS MAY AFFECT RESULTS OF OPERATIONS AND FINANCIAL CONDITION, INCLUDING, AMONG OTHER THINGS, (I) THE ABILITY OF THE COLLEGE TO CONDUCT ITS OPERATIONS AND/OR THE COST OF OPERATIONS, (II) GOVERNMENTAL AND NON-GOVERNMENTAL FUNDING, AND (III) FINANCIAL MARKETS IMPACTING INVESTMENT VALUATIONS AND INTEREST RATES. COMMENCING MARCH 9, 2020, MOST COURSE INSTRUCTION WAS CONDUCTED VIRTUALLY AND WHILE MOST UNDERGRADUATE STUDENTS VACATED STUDENT HOUSING, STUDENTS CONTINUED TO MEET THEIR ACADEMIC REQUIREMENTS FOR THE REMAINDER OF THE 2019-20 ACADEMIC YEAR. DURING THE 2019-20 ACADEMIC YEAR, FUNDING FROM THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT (CARES ACT) PROVIDED STUDENTS WITH APPROXIMATELY $4.5 MILLION OF DIRECT EMERGENCY AID AND OFFSET APPROXIMATELY $1.4 MILLION OF REFUNDS FOR HOUSING AND FOOD PLANS AND INCREMENTAL COSTS RELATED TO CHANGES IN INSTRUCTION RESULTING FROM THE CORONAVIRUS. FOR THE START OF THE 2020-21 ACADEMIC YEAR INSTRUCTION WILL BE A COMBINATION OF IN-PERSON AND VIRTUAL LEARNING WITH SOME FACULTY AND STAFF WORKING ON-CAMPUS TO ENSURE CONTINUITY OF ESSENTIAL OPERATIONS. GIVEN THE UNCERTAINTY OVER THE PROGRESSION OF THE VIRUS AND GOVERNMENTAL EMERGENCY DIRECTIVES, THERE IS NO TIMETABLE FOR WHEN INSTRUCTION AND CAMPUS OPERATIONS WILL RETURN TO NORMAL. APPROXIMATELY $4.3 MILLION OF ADDITIONAL CARES ACT FUNDING (APPROXIMATELY $3.4 MILLION INCLUDED IN CASH AND DEFERRED INCOME AT JUNE 30, 2020 AND APPROXIMATELY $0.9 MILLION AVAILABLE TO BE DRAWN FROM THE US DEPARTMENT OF EDUCATION) IS AVAILABLE TO OFFSET INCREMENTAL INSTITUTIONAL EXPENDITURES DURING THE 2020-21 ACADEMIC YEAR. IN ADDITION, TWO AFFILIATED ENTITIES RECEIVED LOANS UNDER THE PAYCHECK PROTECTION PROGRAM TOTALING APPROXIMATELY $1.6 MILLION. THE COVID-19 PANDEMIC HAS NEGATIVELY AFFECTED NATIONAL, STATE, AND LOCAL ECONOMIES AND GLOBAL FINANCIAL MARKETS, AND THE HIGHER EDUCATION LANDSCAPE IN GENERAL. WHILE THE FINANCIAL IMPACT ON THE COLLEGE CANNOT BE QUANTIFIED AT THIS TIME, WE DO NOT ANTICIPATE THAT THE PANDEMIC WILL HAVE A MATERIAL ADVERSE EFFECT ON THE CURRENT AND FUTURE FINANCIAL PROFILE AND OPERATING PERFORMANCE OF THE COLLEGE. THE COLLEGE CONTINUES TO MONITOR THE COURSE OF THE PANDEMIC AND IS PREPARED TO TAKE ADDITIONAL MEASURES TO PROTECT THE HEALTH OF THE COLLEGE COMMUNITY AND PROMOTE THE CONTINUITY OF ITS ACADEMIC MISSION. FORM 990, PART I, LINE 1, & PART III, LINE 1, MISSION STATEMENT: TOURO COLLEGE WAS ESTABLISHED PRIMARILY TO ENRICH THE JEWISH HERITAGE AND TO SERVE THE LARGER AMERICAN COMMUNITY. THE COLLEGE HAS AN UNDERGRADUATE CURRICULUM OFFERING BACHELOR AND ASSOCIATES DEGREES, GRADUATE PROGRAMS OFFERING MASTERS' DEGREES, AND PROFESSIONAL SCHOOLS INCLUDING A LAW SCHOOL, A SCHOOL OF HEALTH SCIENCES, A SCHOOL OF PHARMACY, A SCHOOL OF OSTEOPATHIC MEDICINE, AND A SCHOOL OF DENTISTRY. THE COLLEGE HAD AN AVERAGE ENROLLMENT OF APPROXIMATELY 12,000 DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11B, FORM 990 REVIEW PROCESS: THE TOURO COLLEGE FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE CONTROLLER, OFFICERS AND THE AUDIT COMMITTEE OF THE BOARD OF THE ORGANIZATION THEN REVIEW THE FORM 990. A COPY OF THE FORM 990 IS THEN PROVIDED TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C, CONFLICT OF INTEREST POLICY: THE ANNUAL BOARD QUESTIONNAIRE, WHICH REQUIRES DISCLOSURE OF CONFLICT INTEREST AND OTHER DETAILS, IS CIRCULATED TO ALL OF THE BOARD MEMBERS AND IS REVIEWED BY IN-HOUSE COUNSEL. OUR POLICIES REQUIRE THAT TRUSTEES, OFFICERS, AND KEY EMPLOYEES NOTIFY TOURO ANY TIME CONFLICTS OF INTEREST ARISE. IN THE EVENT THERE IS A CONFLICT OF INTEREST, OR AN APPEARANCE OF A CONFLICT OF INTEREST, THE INDIVIDUAL MUST RECUSE THEMSELVES FROM ANY DISCUSSIONS OR DECISIONS CONCERNING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A, EXECUTIVE COMPENSATION: THE BOARD AND OFFICERS, WHO ARE FREE OF ANY CONFLICT, APPROVE EXECUTIVE HIRING DECISIONS. IN MAKING COMPENSATION AND EMPLOYEE BENEFIT DETERMINATIONS, CONSIDERATION IS GIVEN TO EXPERT REPORTS AND COMPENSATION TRENDS IN THE INDUSTRY, QUALIFICATIONS AND OTHER MERITS OF THE CANDIDATES. ALL SUCH DECISIONS ARE DOCUMENTED. COMPENSATION FOR SENIOR MANAGEMENT IS REVIEWED PERIODICALLY AND, WHEN APPLICABLE, WHEN THEIR CONTRACTS ARE RENEWED. FORM 990, PART VI, SECTION C, LINE 19, DOCUMENTATION AVAILABLE TO PUBLIC: THE COLLEGE MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC. IN ADDITION, ITS CONSOLIDATED FINANCIAL STATEMENTS ARE PUBLISHED ON THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE. CERTAIN GOVERNING POLICIES ARE INCLUDED IN TOURO COLLEGE'S WEBSITE; HOWEVER ITS CONFLICT OF INTEREST POLICY IS NOT MADE PUBLIC. FORM 990, schedule L, PART II, LOANS: IN 2015 WHEN TOURO CONVERTED FROM A SEMI-MONTHLY TO A BI-WEEKLY PAYROLL, TOURO ADVANCED EIGHT DAYS OF SALARY TO SUBSTANTIALLY ALL EMPLOYEES TO COMPENSATE FOR THE BUILT-IN DELAY IN PROCESSING THE NEW BI-WEEKLY PAYROLL CYCLE. OF SUCH AMOUNT, $49,700 IS INCLUDED IN LOANS AND OTHER RECEIVABLES FROM CURRENT AND FORMER OFFICERS AND KEY EMPLOYEES, AND $3,268,734 FOR OTHER EMPLOYEES IS INCLUDED IN NOTES AND LOANS RECEIVABLE. SUCH AMOUNTS ARE EXPECTED TO BE REPAID AS EMPLOYEES LEAVE THE COLLEGE. WARWICK ACADEMIC ASSOCIATES LLC C/O TOURO COLLEGE 500 SEVENTH AVE NEW YORK NY 10018 204236301 HOLDING CO. NY 0 0 TOUROCOLLEGE CENTER FOR HEALTH OUTCOME RESEARCH LLC C/O TOURO COLLEGE 500 SEVENTH AVE NEW YORK NY 10018 272347268 RESEARCH CTR. DE 0 0 TOUROCOLLEGE INSTRUMENT LOGISTICS LLC C/O TOURO COLLEGE 500 SEVENTH AVE new york NY 10018 132676570 SUPPORT TOURO NY 0 0 TOUROCOLLEGE TOURO MARE ISLAND LLC C/O TOURO COLLEGE 500 SEVENTH AVE NEW YORK NY 10018 263766690 SUPPORT TOURO CA 0 0 TOUROCOLLEGE TUW LLC 1164 Bishop St 123 124 125 Bish Honolulu HI 96813 holding co. HI 0 0 TOUROCOLLEGE HTC LLC 500 SEVENTH AVE NEW YORK NY 10018 475571364 holding co. NY 0 0 TOUROCOLLEGE TOURO UNIVERSITY CALIFORNIA 500 SEVENTH AVE NEW YORK NY 10018 133838740 EDUCATION CA 501(C)(3) 2 TOUROCOLLEGE true TOURO UNIVERSITY NEVADA 500 SEVENTH AVE NEW YORK NY 10018 200362127 EDUCATION NV 501(C)(3) 2 TOUROCOLLEGE true TOURO COLLEGE AND UNIVERSITY SYSTEM INC 500 SEVENTH AVE NEW YORK NY 10018 680646771 EDUCATION NJ 501(C)(3) 2 TOUROCOLLEGE true YESHIVAS OHR HACHAIM 500 SEVENTH AVE NEW YORK NY 10018 112808947 EDUCATION NY 501(C)(3) 2 TOUROCOLLEGE true RABBI DOV REVEL YESHIVA OF FOREST HILLS 500 SEVENTH AVE NEW YORK NY 10018 111681674 EDUCATION NY 501(C)(3) 2 TOUROCOLLEGE true TOURO LAW CENTER DEVELOPMENT FOUNDATION 500 SEVENTH AVE NEW YORK NY 10018 133922718 SUPPORT ORG NY 501(C)(3) 12A(I) TOUROCOLLEGE true NYMC LLC 500 SEVENTH AVE NEW YORK NY 10018 271481147 MEMBER NYMC DE 501(C)(3) 12A(I) TOUROCOLLEGE true NEW YORK MEDICAL COLLEGE 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 131099420 EDUCATION NY 501(C)(3) 2 TOUROCOLLEGE true PARTNERSHIP FOR A HEALTHY POPULATION 500 SEVENTH AVE NEW YORK NY 10018 134038939 HEALTH STUDY NY 501(C)(3) 7 TOUROCOLLEGE true TOURO COLLEGE BERLIN GGMBH BERLIN AM RUPERHORN 4 berlin GM 14055 EDUCATION GM TOUROCOLLEGE true HEBREW THEOLOGICAL COLLEGE 7135 NORTH CARPENTER ROAD SKOKIE IL 60077 362167095 EDUCATION IL 501(C)(3) 2 TOUROCOLLEGE true THE BIOTECHNOLOGY INCUBATOR AT NYMC INC 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 471682208 RESEARCH NY 501(C)(3) 10 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 Touro Speech and Hearing Clinic Inc 1602 Avenue J BROOKLYN NY 11230 134180235 INACTIVE NY NA C CORP 0 0 1.00000 true Touro Foundation Corporation 500 SEVENTH AVE NEW YORK NY 10018 134014618 INACTIVE NY NA C CORP 0 0 1.00000 true Touro University Foundation 500 SEVENTH AVE NEW YORK NY 10018 943318585 INACTIVE CA NA C CORP 0 0 1.00000 true TOURO COLLEGE FDN FOR JEWISH STUDIES 500 SEVENTH AVE NEW YORK NY 10018 133639225 INACTIVE NY NA C CORP 0 0 1.00000 true TOURO UNIVERSITY MEDICAL ASSOCIATES 1805 N CALIFORNIA ST STE 201 STOCKTON CA 95204 843786336 HEALTH CARE CA NA C CORP 0 0 1.00000 true false true false false true false false false false false true true false false true true true true true YESHIVAS OHR HACHAIM P 9350585 CASH TRANSFER TOURO UNIVRSITY NEVADA Q 8144528 CASH TRANSFER TOURO UNIVERSITY CALIFORNIA Q 11147818 CASH TRANSFER TOURO UNIVRSITY NEVADA R 19466260 CASH TRANSFER TOURO UNIVERSITY CALIFORNIA S 17293384 CASH TRANSFER TOURO LAW SCHOOL DEVELOPMENT FOUNDATION E 91620 CASH TRANSFER RABBI DOV REVEL YESHIVA OF FOREST HILLS R 934742 CASH TRANSFER NEW YORK MEDICAL COLLEGE K 1762552 CASH TRANSFER 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.