2020-05-14T13:51:39-05:00 2019-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2018-07-01 131099420 New York Medical College % ADAM HAMMERMAN NEWY 9145941000 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ADAM HAMMERMAN VP & CFO 9145941000 2020-05-12 true DEVIN L DUNCAN P01249521 2127589700 2020-05-12 199.207.253.96 13407320201355000023 2020-05-14 P B09A8F7452AAEB109EF01FBCB66ABFE0CB6B8889 F7E791049FCEE4943A341CCA4F642AE72B60D2A0 2018 2020-09-23 17:36:50Z EDWARD C HALPERIN MD 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 154710433 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. 25 23 1206 1142 882862 185762 2733576 5012605 111528704 110573977 4166323 4159666 3252390 3366588 121680993 123112836 6132057 6643352 0 0 84190137 80210912 0 0 1213311 35649860 35988870 125972054 122843134 -4291061 269702 327918332 321592523 152748005 144547298 175170327 177045225 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 75419459 6643352 88754185 Professional Education: Educate individuals for careers in medical, science and health professions. 16547625 17617338 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. 3426510 5431967 Auxiliary: Campus services (housing and dining) provided to the students and the NYMC community to live and function on campus. 95393594 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 false false false false false true true true false false true 382 0 true 1206 true true true false false false false true true false false false false false false false false X 25 23 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 Dr Mark Hasten CHAIRMAN AND TRUSTEE 0.38 4.12 X X 0 0 0 Alan Kadish President and Trustee 11.0 24.0 X X 0 796447 174551 Robert Alter Trustee 0.38 0.0 X 0 0 0 Gary Barnett Trustee 0.0 0.0 X 0 0 0 Howard Baruch Trustee 0.38 0.0 X 0 0 0 Ben Chouake Trustee 0.5 1.0 X 0 0 0 Dee Delbello Trustee 0.23 0.0 X 0 0 0 Rabbi Menachem Genack Trustee 0.31 34.69 X 0 80200 3253 Gary Gettenberg Trustee 0.04 0.0 X 0 0 0 Munr Kazmir Trustee 0.15 0.0 X 0 0 0 Moshe Lichtenstein Trustee 0.27 0.0 X 0 0 0 Joseph Mark VICE CHAIRMAN AND TRUSTEE 0.5 0.0 X X 0 0 0 Alina Moran Trustee 0.19 0.0 X 0 0 0 Stephen J Nicholas Trustee 0.15 0.0 X 0 0 0 Martin Oliner Trustee 0.19 0.81 X 0 0 0 Eliot Peyser Trustee 0.23 0.0 X 0 0 0 Ronald F Poe Trustee 0.5 0.0 X 0 0 0 Joseph Popack Trustee 0.27 0.0 X 0 0 0 Avi Retter Trustee 0.19 0.0 X 0 0 0 Stephen Rosenberg Trustee 0.0 1.0 X 0 0 0 Alan Rosenthal Trustee 0.08 0.0 X 0 0 0 Henry Saphier Trustee 0.42 0.0 X 0 0 0 Joseph Schwartz Trustee 0.19 0.0 X 0 0 0 ROSALYN ESTHER STAHL Trustee 0.27 0.0 X 0 0 0 Kenneth Theobalds Trustee 0.08 0.0 X 0 0 0 Robert Amler DEAN SHSP 35.0 0.0 X 399635 0 27982 Jerry Nadler beg 3319 Dean of the School of Medicine 35.0 0.0 X 0 0 0 Edward C Halperin CHANCELLOR, CEO, INTERM. DEAN 35.0 0.0 X 554026 0 54770 Adam Hammerman VP & CFO 35.0 0.0 X 242276 0 63704 Nicholas Janiga VP, Chief Counsel & ASST SEC 35.0 0.0 X 262443 0 63157 Michael Newman Secretary 0.5 35.0 X 0 284044 32467 David Raab Executive VP (End 9/3/18) 10.0 25.0 X 235854 66540 46052 Marina Holz Dean GSBMS (beg 10/17/18) 35.0 0.0 X 75086 0 0 Mitchell Cairo Professor 35.0 0.0 X 448070 0 54880 Michael Gewitz Professor 35.0 0.0 X 451808 0 51768 Gerard M Villucci Administrator 35.0 0.0 X 375786 0 70746 Fredrick Z Bierman SENIOR ASSOCIATE DEAN 35.0 0.0 X 330509 0 44975 Joseph F Morales Professor 35.0 0.0 X 327797 0 50412 Francis Belloni Dean, GSBMS (END 6/30/17) 35.0 0.0 X 189856 0 53700 George Nestler AVP & Controller (End 6/30/17) 35.0 0.0 X 173193 0 50210 Jennifer Riekert VP Communication (End 6/30/17) 35.0 0.0 X 166157 0 12800 Michael Rogovin VP Operations (End 6/30/17) 35.0 0.0 X 187469 0 61759 4419965 1227231 917186 177 true true true Pavarini North East Construction Co 30 Oak Street Stamford CT 06905 Construction 1630119 Able Services PO BOX 8000 Buffalo NY 14267 Cleaning Service 1064093 Elsevier Inc PO BOX 7247-8455 Philadelphia PA 19170 Online Books 758390 LESSINGS inc PO BOX 3648 BOSTON MA 022413648 Cafeteria 434669 HI LINK COMPUTERS CORP 60 LONG RIDGE ROAD STAMFORD CT 06902 COMPUTERS & SOFTWARE 419070 44 321844 260884 4429877 12799 5012605 Tuition and Fees 611310 64640415 64640415 Affiliation Fees 611310 13755925 13755925 RESEARCH AND SPONSORED PROJECTS 611310 22884257 22884257 Faculty Practice Plans 611310 3861413 3861413 Auxiliary Enterprises 611310 5431967 5431967 110573977 2960967 172981 -24880 2812866 17547 17547 0 4398374 2741866 1656508 0 1656508 189000 1467508 29954030 28772878 1181152 1181152 1181152 17659 321844 82853 -65194 -65194 0 0 0 0 0 0 Comparative Medicine 611310 1351397 632655 718742 OTHER REVENUE 611310 423877 423877 1775274 123112836 111803490 882862 5413879 1174051 1174051 5469301 5469301 0 0 2175257 817821 1357436 0 60050851 50650366 8791604 608881 3082711 2575430 480597 26684 10912420 8571275 2209491 131654 3989673 3274791 673195 41687 0 133256 133256 264369 264369 82181 82181 0 335114 335114 3050722 1931642 1098703 20377 167178 131628 35550 1670823 970025 609473 91325 936439 505183 407974 23282 0 5947679 760792 5185411 1476 803168 679635 118331 5202 0 144886 130760 11583 2543 4758366 3921487 836879 0 10536084 8181700 2250320 104064 598107 127142 470965 Supplies 3262280 3254498 7665 117 Student Activities 1440066 1438566 1000 500 Dues and Memberships 467599 240958 222250 4391 Catering and Food Service 496694 308588 154484 33622 893859 409583 402320 81956 122843134 95393594 26236229 1213311 X 5166506 1565366 11974957 10794608 3374053 2782431 12281731 12755590 0 0 0 0 8267769 7268591 114286 114286 1185357 926188 249199613 68838931 181404215 180360682 76120606 76303241 17753149 18171483 0 0 10200000 10200000 75703 350057 327918332 321592523 31464377 26916694 0 0 14634296 14147436 46046281 45897262 1146745 2000356 0 0 22518174 21441623 0 0 36938132 34143927 152748005 144547298 X 113267415 114911674 21480885 21115614 40422027 41017937 175170327 177045225 327918332 321592523 X 269702 1299093 306103 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 82181 false true 304 82485 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 $80,586 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. NEW YORK MEDICAL COLLEGE ALSO RETAINED THE LAW FIRM OF DELBELLO DONNELLAN WEINGARTEN WISE AND WIEDERKEHR LLP, ONE NORTH LEXINGTON AVENUE, WHITE PLAINS, NY 10601. CONSIDERATION OF $1,595 WAS PAID FOR LOBBYING SERVICES AND ADVICE REGARDING CERTAIN WESTCHESTER COUNTY LAND USE ISSUES. THE COLLEGE PAYS ANNUAL DUES TO NACUBO, A PORTION OF WHICH ARE ATTRIBUTABLE TO LOBBYING. false true X 70345328 200408 3659952 3312320 217811 70675557 66284782 1687842 5438747 2958787 107256 70345328 62771921 986954 4806356 2276230 4219 66284782 66345921 288000 -1125000 2593000 144000 62771921 63114921 4571000 1102000 2340000 102000 66345921 0.43370 0.29610 0.27020 false false 0 23975461 23975461 0 175741673 41515655 134226018 0 390466 223625 166841 0 25610932 16899378 8711554 0 23481079 10200271 13280808 180360682 ALTERNATIVE INVESTMENTS 3654050 F BEN INT IN PERPETUAL TRUSTS 12367598 F OTHER PARTNERSHIP INVESTMENTS 1820956 F REAL ESTATE PARTNERSHIPS 328879 F 18171483 0 TAXABLE BONDS 27922842 REFUNDABLE FED. STUDENT LOANS 5230996 PAYABLE TO BIOINC 676764 OTHER LIABILITIES 313325 34143927 X 122487845 1299093 3880331 5179424 117308421 335114 5469301 5804415 123112836 120190681 3151962 3151962 117038719 335114 5469301 5804415 122843134 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, 2019, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY UNRELATED BUSINESS INCOME TAX LIABILITY, WHICH WOULD HAVE A MATERIAL IMPACT UPON ITS FINANCIAL STATEMENTS. Schedule D, Part XI, Line 2d RENTAL EXPENSES 2,741,866 CHANGE IN FMV IN PERPETUAL TRUST -73,894 REVENUE FROM CONSOLIDATED ORGANIZATION 749,509 SPECIAL EVENT EXPENSES 82,853 POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 379,997 --------------- 3,880,331 Schedule D, Part XI, Line 4b SCHOLARSHIPS 5,097,456 TUITION REMISSION 371,845 --------------- 5,469,301 Schedule D, Part XII, Line 2d RENTAL EXPENSES 2,741,866 SPECIAL EVENT EXPENSES 82,853 EXPENSES FROM CONSOLIDATED ORGANIZATION 327,243 --------------- 3,151,962 Schedule D, Part XII, Line 4b SCHOLARSHIPS 5,097,456 TUITION REMISSION 371,845 --------------- 5,469,301 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 3654050 3654050 3654050 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 339503 321844 17659 20081 28392 400 33980 0 339503 321844 17659 20081 28392 400 33980 82853 -65194 true Oregon Health and Science University 2525 SW 3rd Ave Suite 245 Portland OR 97201 931176109 OREGON 257379 FMV RESEARCH University of Rochester 601 Elmwood Avenue Rochester NY 14642 160743209 501(C)(3) 58054 FMV RESEARCH RESEARCH Open Door Family Medical Center 165 Main Street ossining NY 10562 132813103 501(C)(3) 50873 FMV RESEARCH RESEARCH Touro University California 1310 Club Drive Vallejo CA 94592 133838740 501(C)(3) 48449 FMV RESEARCH RESEARCH Medical College of Wisconsin 8701 Watertown Plank Rd Milwaukee WI 53226 390806261 501(C)(3) 22768 FMV RESEARCH RESEARCH University of Maryland Baltimore 685 West Baltimore St baltimore MD 21201 526002033 maryland 34671 FMV RESEARCH RESEARCH Baystate Medical Center Inc 759 Chestnut Street Springfield MA 01199 042790311 501(C)(3) 39549 FMV RESEARCH RESEARCH Baylor College of Medicine One Baylor Plaza Houston TX 77030 741613878 501(C)(3) 27221 FMV RESEARCH RESEARCH Children's Hospital of Los Angeles 4650 Sunset Blvd Los Angeles CA 90027 951690977 501(C)(3) 5210 FMV RESEARCH RESEARCH Tufts Medical Center 800 Washington Street 453 boston MA 02111 270440772 501(C)(3) 45056 FMV RESEARCH RESEARCH University of Texas SW Medical Center 5323 Harry Hines Blvd MC 929 Dallas TX 75390 756002868 TEXAS 58423 FMV RESEARCH RESEARCH Yale University PO Box 1873 New Haven CT 06508 060646973 501(C)(3) 12187 FMV RESEARCH RESEARCH Marshall University Research Corp 401 11th Street Huntington WV 25701 550683361 501(C)(3) 23252 FMV RESEARCH RESEARCH Regents University of Michigan 5050 Wolverine Tower Ann Arbor MI 48109 386006309 501(C)(3) 68165 FMV RESEARCH Albert Einstein College of Medicine 1300 Morris Park Avenue Bronx NY 10461 472209056 501(C)(3) 130613 FMV RESEARCH Westchester County Health Care Corp 100 Woods Road Valhalla NY 10595 133964321 501(C)(3) 282180 FMV RESEARCH University of California at LA (UCLA) 405 Hilgard Avenue Los Angeles CA 90095 956006143 CALIFORNIA 8000 FMV RESEARCH 17 Scholarships & Grants 414 5469301 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. 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 false false Alan Kadish President and Trustee 0 794863 1584 0 45000 0 129551 0 970998 0 0 Francis Belloni Dean, GSBMS (END 6/30/17) 187438 0 0 2418 0 23400 0 37304 0 250560 0 0 0 George Nestler AVP & Controller (End 6/30/17) 166934 0 0 6259 0 20190 0 36417 0 229800 0 0 0 Jennifer Riekert VP Communication (End 6/30/17) 166015 0 0 142 0 12800 0 2660 0 181617 0 0 0 Michael Rogovin VP Operations (End 6/30/17) 186678 0 0 791 0 17143 0 45762 0 250374 0 0 0 Robert Amler DEAN SHSP 357232 0 20000 0 22403 0 26231 0 3022 0 428888 0 0 0 Edward C Halperin CHANCELLOR, CEO, INTERM. DEAN 531868 0 0 22158 0 26231 0 29811 0 610068 0 0 0 Adam Hammerman VP & CFO 241908 0 0 368 0 23258 0 41658 0 307192 0 0 0 Nicholas Janiga VP, Chief Counsel & ASST SEC 262178 0 0 265 0 25654 0 39711 0 327808 0 0 0 Michael Newman Secretary 0 283518 526 0 10784 0 21683 0 316511 0 0 David Raab Executive VP (End 9/3/18) 233188 0 0 2666 66540 19761 0 26291 0 281906 66540 0 0 Mitchell Cairo Professor 444260 0 0 3810 0 26231 0 29173 0 503474 0 0 0 Michael Gewitz Professor 447768 0 0 4040 0 34830 0 24024 0 510662 0 0 0 Gerard M Villucci Administrator 375116 0 0 670 0 26231 0 45864 0 447881 0 0 0 Fredrick Z Bierman SENIOR ASSOCIATE DEAN 324329 0 0 6180 0 26231 0 21518 0 378258 0 0 0 Joseph F Morales Professor 326345 0 0 1452 0 34830 0 23539 0 386166 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE DAVID RAAB HAS A HOUSING ALLOWANCE FROM TOURO COLLEGE, A RELATED ENTITY, WHICH IS INCLUDED IN TAXABLE COMPENSATION. 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 $31,250. A Dormitory Authority of the State of New York 146000293 649907M82 2014-06-26 59716460 CONSTRUCTION AND REAL ESTATE ACQ. false false true A 150000 0 48338203 4664002 3932790 0 900851 0 0 37951254 0 1399798 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 3 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 OCCURED ON 07/02/2019. SUBSTANTIAL CONTRIBUTOR 56 External Auditor 442422 Auditing Fees false Kristen Nestler Former Officer's Daughter 85551 Employee at the College false 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 OF 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 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. 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 COMMITTEE 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, LINE 15 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 12/19/18. 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. NET ASSET CLASSIFICATION FORM 990, PART X, LINES 27-29 THE FASB ISSUED ACCOUNTING STANDARDS UPDATE (ASU) 2016-14 NOT-FOR-PROFIT ENTITIES (TOPIC 958), PRESENTATION OF FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES, WHICH AMONG OTHER THINGS, CHANGES HOW NOT-FOR-PROFIT ENTITIES REPORT NET ASSET CLASSES. THE SIGNIFICANT REQUIREMENTS OF ASU 2016-14 INCLUDE REDUCTION IN THE NUMBER OF NET ASSET CLASSES FROM THREE TO TWO: WITH DONOR RESTRICTIONS (FORMERLY REPORTED AS TEMPORARILY RESTRICTED NET ASSETS AND PERMANENTLY RESTRICTED NET ASSETS) AND WITHOUT DONOR RESTRICTIONS (FORMERLY REPORTED AS UNRESTRICTED NET ASSETS). THE 2018 FORM 990, PART X WAS NOT UPDATED TO REFLECT THE CHANGE IN NET ASSET CLASS TERMINOLOGY; THEREFORE, NEW YORK MEDICAL COLLEGE HAS REPORTED NET ASSETS WITHOUT DONOR RESTRICTION AS UNRESTRICTED NET ASSETS AND NET ASSETS WITH DONOR RESTRICTIONS AS TEMPORARILY RESTRICTED NET ASSETS AND PERMANENTLY RESTRICTED NET ASSETS, RESPECTIVELY. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST (73,894) POST RETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 379,997 ------------ TOTAL OTHER CHANGES IN NET ASSETS 306,103 Touro University 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 University College of MedicineInc 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 SUPPORT ORG NY 501 (C)(3) 12A(I) TOUROCOLLEGE true The Partnership For A Healthy Population 500 7TH 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 501 (C)(3) TOUROCOLLEGE true Touro College 500 7TH AVE NEW YORK NY 10018 132676570 EDUCATION NY 501 (C)(3) 2 NA true 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 SARAH C UPHAM CLINIC TRUST 10 S DEARBORN IL1-0111 CHICAGO IL 60603 136035797 grantmaking IL 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) 7 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 & REHAB 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 133639225 EDUCATION NY NA C CORP true false true false false false false false false false true false true false true true true true false true Sarah C Upham Clinic Trust s 364000 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.