2019-05-15T07:26:10-05:00 2018-06-30 420714325 RSM US LLP 4 TIMES SQUARE NEW YORK NY 10036 990 2017-07-01 237227990 BROOKLYN LAW SCHOOL BROO 7186252200 250 JORALEMON STREET BROOKLYN NY 112013700 LAURIE H NEWITZ CFO 7186252200 2019-05-14 1 LYNNE JOHNSON P00757336 2123721000 66.98.98.9 2019-05-14 22:42:32 ED P 172598DD5671A45DE478DF6A437F59071351F92D 80A56547EDB5E2BF0711BF7CB6211EB1BC4D6842 2017 2019-02-21 02:37:17Z NICHOLAS W ALLARD 250 JORALEMON STREET BROOKLYN NY 112013700 184772650 0 X WWW.BROOKLAW.EDU X 1901 NY SEE SCHEDULE O FOR COMPLETE NARRATIVE 19 19 874 1767 0 141538 2493722 3444330 51604605 49142625 79412648 20467595 3243889 3721229 136754864 76775779 27214025 26066174 0 0 34684237 36558553 0 0 3132617 15341283 18069890 77239545 80694617 59515319 -3918838 352471647 350595424 69283222 76471144 283188425 274124280 X SEE SCHEDULE O FOR COMPLETE NARRATIVE 0 0 63981982 26066174 49630215 THE EDUCATION OF STUDENTS IN PREPARATION FOR THE LEGAL PROFESSION. IN THE FALL OF ACADEMIC YEAR 2017/2018, ENROLLMENT WAS APPROXIMATELY 1,081. 63981982 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 248 0 1 874 1 1 1 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X LAURIE H NEWITZ 7186252200 250 JORALEMON STREET BROOKLYN NY 11201 X STUART SUBOTNICK ESQ CHAIRPERSON OF THE BOARD OF TRUSTEES 1.00 X X 0 0 0 FRANCIS J AQUILA ESQ VICE CHAIRPERSON OF THE BOARD 1.00 X X 0 0 0 DAVID M BARSE ESQ TRUSTEE 1.00 X 0 0 0 DENNIS J BLOCK ESQ TRUSTEE 1.00 X 0 0 0 FREDERICK COHEN ESQ TRUSTEE 1.00 X 0 0 0 FREDERICK CURRY ESQ TRUSTEE 1.00 X 0 0 0 JEFFREY J FEIL ESQ TRUSTEE 1.00 X 0 0 0 MARTIN A FISCHER ESQ TRUSTEE 1.00 X 0 0 0 JEFFREY D FORCHELLI ESQ TRUSTEE 1.00 X 0 0 0 DEBRA HUMPHREYS ESQ TRUSTEE 1.00 X 0 0 0 ROBERT M KAUFMAN ESQ TRUSTEE 1.00 X 0 0 0 HON CLAIRE R KELLY TRUSTEE 1.00 X 0 0 0 EILEEN T NUGENT ESQ TRUSTEE 1.00 X 0 0 0 JOHN P OSWALD ESQ TRUSTEE 1.00 X 0 0 0 STEVEN G SCHEINFELD ESQ TRUSTEE 1.00 X 0 0 0 LAWRENCE SUCHAROW ESQ TRUSTEE 1.00 X 0 0 0 STEVEN L ZELKOWITZ ESQ TRUSTEE 1.00 X 0 0 0 ANNA ASHBUROV ESQ GRADUATE TRUSTEE 1.00 X 0 0 0 CELINE J CHAN ESQ GRADUATE TRUSTEE (UNTIL DEC. 2017) 1.00 X 0 0 0 AN DUONG ESQ GRADUATE TRUSTEE 1.00 X 0 0 0 STEPHEN POPERNIK ESQ GRADUATE TRUSTEE (UNTIL DEC. 2017) 1.00 X 0 0 0 NICHOLAS W ALLARD ESQ DEAN 40.00 X 510668 0 165493 LINDA S HARVEY COO AND CHIEF OF STAFF 40.00 X 264981 0 58542 LAURIE H NEWITZ TREASURER & CHIEF FINANCIAL OFFICER 40.00 X 297248 0 66110 STEVEN DEAN VICE DEAN OF ACADEMIC AFFAIRS 40.00 X 217817 0 31272 STACY CAPLOW ASSOC. DEAN FOR PROF. LEGAL EDUCATION 40.00 X 265605 0 51923 STEPHANIE VULLO ESQ SECRETARY & GENERAL COUNSEL & CCO 40.00 X 195854 0 43656 EULAS G BOYD JR DEAN OF ADMISSIONS 40.00 X 199420 0 55180 SEAN P MORIARTY CHIEF ADVANCEMENT OFFICER 40.00 X 208454 0 37764 AARON TWERSKI PROFESSOR OF LAW 40.00 X 350079 0 61910 NEIL B COHEN PROFESSOR OF LAW 40.00 X 293413 0 66871 ALEXANDER STEIN PROFESSOR OF LAW 40.00 X 285602 0 68178 ANITA BERNSTEIN PROFESSOR OF LAW 40.00 X 284468 0 45183 LAWRENCE M SOLAN PROFESSOR OF LAW 40.00 X 276232 0 50639 WILLIAM ARAIZA FORMER VICE DEAN ACADEMIC AFFAIRS 40.00 X 298942 0 66177 DANA BRAKMAN-REISER FORMER VICE DEAN STUDENT AFFAIRS 40.00 X 229859 0 33079 BERYL R JONES-WOODIN FORMER ASSOC. DEAN STUDENT AFFAIRS 40.00 X 177530 0 56710 4356172 0 958687 75 1 1 0 JTL CONSTRUCTION CORP 1123 BROADWAY SUITE 617 NEW YORK NY 10010 BUILDING CONTRACTOR 3931349 DNP BUILDERS LLC 133 W 25TH STREET SUITE 6E NEW YORK NY 10001 BUILDING CONTRACTOR 1968358 WB WOODNY PO BOX 75310 CHICAGO IL 60675 FURNITURE & FIXTURES CONTRACTOR 1529975 TRIANGLE SERVICES 10 FIFTH AVENUE VALLEY STREAM NY 11581 CLEANING SERVICES 930113 JPMORGAN CHASE 270 PARK AVENUE NEW YORK NY 10017 INVESTMENT BROKER 585540 23 6062 3438268 336272 3444330 TUITION & FEES 611310 49067169 49067169 FINANCIAL AID PROGRAMS 611310 73597 73597 STUDENT LOAN INTEREST 900099 1859 1859 49142625 4717590 4717590 7606588 4372949 3233639 3233639 3233639 119373927 103623922 15750005 15750005 15750005 SETTLEMENTS/OTHER REFUNDS 900099 243202 243202 ALUMNI PROGRAMS 900099 73170 73170 PUBLICATION/COURSE MATERIALS 900099 53495 53495 117723 117723 487590 76775779 49630215 0 23701234 26066174 26066174 4021811 1539732 1513200 968879 23994871 20296390 2686528 1011953 1981121 1675758 221812 83551 4845552 4098676 542521 204355 1715198 1450824 192038 72336 243379 6591 236788 104582 104582 548355 548355 599225 136611 452957 9657 273123 202505 29569 41049 583681 264008 156151 163522 1258835 684177 501574 73084 4717454 103063 4614391 446095 359725 39409 46961 1131913 859098 77405 195410 2293564 1804161 401276 88127 3619133 2846879 633194 139060 347541 39419 308122 LIBRARY ACQUISTIONS/AUD 855219 844718 3322 7179 LOAN/DATA PROCESSING/SB 303724 174790 125746 3188 SUBCRIPTIONS/PUBLICATIO 198917 187034 4552 7331 MEMBERSHIPS 143773 50496 91760 1517 401377 291153 94766 15458 80694617 63981982 13580018 3132617 1600 1600 20965812 15498217 1291829 1738284 2331152 597165 162591 0 622369 803741 164736924 62007971 104528733 102728953 189501928 193897560 26624792 29065970 6440841 6263934 352471647 350595424 11548340 11339300 853768 845860 39297165 39215307 10000000 17000000 7583949 8070677 69283222 76471144 X 243899139 232631391 20455369 22012552 18833917 19480337 283188425 274124280 352471647 350595424 X -3918838 -4857343 -287964 X 0 1 X 1 1 1 X 88230 X X 0 233423409 10101541 15063755 21215886 237372819 151264671 81841198 22621362 22303822 233423409 129836298 33122435 -1193251 10500811 151264671 133265987 2965645 2644453 9039787 129836298 117055082 3790548 17218471 4798114 133265987 0.84130 0.08220 0.07650 0 0 7128551 7128551 147518314 59527960 87990354 5786033 578603 5207430 4215799 1901408 2314391 88227 88227 102728953 29065970 F 29065970 20594 INTEREST PAYABLE 1051150 ACCRUED POST-RETIREMENT BENEFITS PAYABLE 6998933 8070677 X 50811718 -4857343 5500 -25485167 -30337010 81148728 -4372949 -4372949 76775779 59875863 5500 4372949 4378449 55497414 25197203 25197203 80694617 PART III, LINE 4: THE COLLECTION OF ART ARE DONATIONS REPRESENTING VARIOUS ASPECTS OF THE PRACTICE OF LAW. PART V, LINE 4: THE LAW SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE LAW SCHOOL MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) OR PURPOSE AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE OVERRIDING OBJECTIVE IS TO MAINTAIN PURCHASING POWER. NET OF SPENDING, THE OBJECTIVE IS TO GROW THE AGGREGATE PORTFOLIO VALUE AT THE RATE OF INFLATION OVER THE LAW SCHOOL'S INVESTMENT HORIZON. PART X, LINE 2: THE LAW SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. THE LAW SCHOOL IS SUBJECT TO TAXES ON UNRELATED BUSINESS INCOME. THE LAW SCHOOL FILES TAX AND INFORMATION RETURNS WITH THE INTERNAL REVENUE SERVICE AND WITH NEW YORK STATE. TAX YEARS SUBSEQUENT TO 2015 REMAIN SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE LAW SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE LAW SCHOOL HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. AT JUNE 30, 2018, THE LAW SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AND HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO TAXES DURING EITHER OF THE YEARS ENDED JUNE 30, 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE - NET IN TUITION & FEES -24,648,848. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 43,635. OTHER POST-RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS -331,599. CUSTODIAL FEES - NET IN INVESTMENT INCOME -548,355. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B -4,372,949. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B 4,372,949. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE - NET IN TUITION & FEES 24,648,848. CUSTODIAL FEES - NET IN INVESTMENT INCOME 548,355. 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 POLICY IS PUBLISHED ON THE BROOKLYN LAW SCHOOL WEBSITE. SCHEDULE E, PART I, LINE 6 FINANCIAL AID FROM GOVERNMENT AGENCIES: 1) FEDERAL WORK STUDY PROGRAM 2) FEDERAL DIRECT LOAN PROGRAM EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERNATIONAL STUDY ABROAD 42477 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INTERNATIONAL STUDY ABROAD 71220 EAST ASIA AND THE PACIFIC 0 1 G.A. SERVICES INTERNATIONAL LIAISON TO CHINA 6161 0 1 0 0 0 1 119858 0 119858 0 0 0 0 0 0 1 SCHOLARSHIPS 1018 24648848 FELLOWSHIPS 202 766869 LOAN FORGIVENESS 89 299572 206417 PRIZES AND AWARDS 68 36500 1635 FMV PLAQUES AND MEDALS FWS MATCH - OUTSIDE MATCH 285 106333 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED TO STUDENTS ATTENDING BROOKLYN LAW SCHOOL AND ARE A DIRECT OFFSET OF TUITION. FELLOWSHIPS ARE AWARDED TO STUDENTS UNDER STRICT SELECTION CRITERIA. LOAN FORGIVENESS ARE PAID DIRECTLY TO THE LENDER OR REQUIRES PROOF OF DEBT REDUCTION FROM THE STUDENT. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 NICHOLAS W ALLARD ESQ DEAN 500000 0 0 0 10668 0 27000 0 138493 0 676161 0 0 0 LINDA S HARVEY COO AND CHIEF OF STAFF 259437 0 0 0 5544 0 27000 0 31542 0 323523 0 0 0 LAURIE H NEWITZ TREASURER & CHIEF FINANCIAL OFFICER 291704 0 0 0 5544 0 27000 0 39110 0 363358 0 0 0 STEVEN DEAN VICE DEAN OF ACADEMIC AFFAIRS 199368 0 0 0 18449 0 20004 0 11268 0 249089 0 0 0 STACY CAPLOW ASSOC. DEAN FOR PROF. LEGAL EDUCATIO 254937 0 0 0 10668 0 26252 0 25671 0 317528 0 0 0 STEPHANIE VULLO ESQ SECRETARY & GENERAL COUNSEL & CCO 194339 0 0 0 1515 0 19965 0 23691 0 239510 0 0 0 EULAS G BOYD JR DEAN OF ADMISSIONS 198390 0 0 0 1030 0 20750 0 34430 0 254600 0 0 0 SEAN P MORIARTY CHIEF ADVANCEMENT OFFICER 207399 0 0 0 1055 0 21210 0 16554 0 246218 0 0 0 AARON TWERSKI PROFESSOR OF LAW 311248 0 0 0 38831 0 27000 0 34910 0 411989 0 0 0 NEIL B COHEN PROFESSOR OF LAW 256023 0 0 0 37390 0 26845 0 40026 0 360284 0 0 0 ALEXANDER STEIN PROFESSOR OF LAW 253558 0 0 0 32044 0 26623 0 41555 0 353780 0 0 0 ANITA BERNSTEIN PROFESSOR OF LAW 268856 0 0 0 15612 0 27000 0 18183 0 329651 0 0 0 LAWRENCE M SOLAN PROFESSOR OF LAW 240959 0 0 0 35273 0 24820 0 25819 0 326871 0 0 0 WILLIAM ARAIZA FORMER VICE DEAN ACADEMIC AFFAIRS 262614 0 0 0 36328 0 27000 0 39177 0 365119 0 0 0 DANA BRAKMAN-REISER FORMER VICE DEAN STUDENT AFFAIRS 208159 0 0 0 21700 0 21122 0 11957 0 262938 0 0 0 BERYL R JONES-WOODIN FORMER ASSOC. DEAN STUDENT AFFAIRS 169782 0 0 0 7748 0 18067 0 38643 0 234240 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: A. REIMBURSEMENT OF TRAVEL EXPENSES FOR A COMPANION WHICH OCCURS OCCASIONALLY IS PAID ONLY IF THE TRAVEL EXPENSE QUALIFIES AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE/ PERSONAL SERVICES: B. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT/DEAN IS REQUIRED TO HAVE A HOME ON THE LAW SCHOOL'S CAMPUS WHICH IS FURNISHED, MAINTAINED AND CLEANED, AT THE LAW SCHOOL'S EXPENSE. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649905MZ6 2009-07-22 22195460 REFUND PORTION OF BONDS ISSUED ON 08/20/2003 0 0 0 B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649905R63 2012-07-25 53833478 REFUND PORTION OF BONDS ISSUED ON 08/20/2003 1 0 0 A 22233020 2240472 442227 261093 19289228 2006 1 0 1 1 B 6770000 24450000 53916629 785705 75000 53055924 2006 0 1 1 1 A 0 1 1 1 0 0.00440 0.00440 0 0 1 B 0 1 1 1 0 0.00440 0.00440 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 1 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK DATE THE REBATE COMPUTATION WAS PERFORMED: 07/22/2014 ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK DATE THE REBATE COMPUTATION WAS PERFORMED: 07/25/2017 PART II, LINE 3 (BOTH COLUMNS): THE DIFFERENCE WITH THE AMOUNT LISTED IN PART I, COLUMN (E) FOR THE 2009 BONDS IS ATTRIBUTABLE TO INVESTMENT EARNINGS FROM PROCEEDS ON DEPOSIT IN THE DEBT SERVICE RESERVE FUND. THE DIFFERENCE WITH THE AMOUNT LISTED IN PART I, COLUMN (E) FOR BONDS ISSUED ON 7/25/2012 (THE "2012 BONDS") IS ATTRIBUTABLE TO INVESTMENT EARNINGS FROM PROCEEDS ON DEPOSIT IN AN ESCROW FUND ("DEFEASANCE ESCROW") WHICH REFUNDED A PORTION OF A PRIOR ISSUE OF BONDS (THE "2003 BONDS") ON 7/1/2013. PART II, LINE 11 (BOTH COLUMNS): AMOUNTS LISTED INCLUDE PROCEEDS SPENT TO REFUND PRIOR ISSUE OF BONDS. FOR THE 2009 BONDS, AMOUNTS INCLUDE DSRF EARNINGS USED TO PAY DEBT SERVICE. PART III, LINE 4 (BOTH COLUMNS): THE 2003 BONDS WERE A MULTIPURPOSE ISSUE CONSISTING OF A NEW MONEY PORTION AND A REFUNDING PORTION. THE 2003 BONDS WERE ALLOCABLE TO EACH SEPARATE PURPOSE ON THE BASIS OF A PRO-RATA ALLOCATION. THE 2009 AND 2012 BONDS BOTH REFUNDED A PRO-RATA PORTION OF THE 2003 BONDS AND, AS A RESULT, THE PRIVATE BUSINESS USE FOR BOTH REFUNDING ISSUES IS EQUAL. PART III, LINE 5 (BOTH COLUMNS): THE TAXPAYER PERIODICALLY LEASES OUT A PORTION OF THE PROJECT FINANCED WITH PROCEEDS FROM THE 2009 BONDS AND THE 2012 BONDS TO OUTSIDE USERS. A SMALL PORTION OF SUCH USE MAY BE IN A TRADE OR BUSINESS THAT IS UNRELATED TO THE TAXPAYER'S EXEMPT PURPOSE. THE AGGREGATE AMOUNT OF SUCH USE WOULD NOT BE IN EXCESS OF 1/10 OF 1 PERCENT OF THE PROJECTS FINANCED WITH PROCEEDS FROM THE 2009 BONDS OR THE 2012 BONDS. X 32 336272 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER REPRESENTED ABOVE IS BASED ON THE UNIQUE NUMBER OF GIFT TRANSACTIONS. FORM 990, PART I, LINE 1: THE FUNDAMENTAL MISSION OF BROOKLYN LAW SCHOOL IS TO PROVIDE ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, AND ETHICAL VALUES NEEDED FOR A CAREER IN THE LAW. FORM 990, PART I, LINE 6: NUMBER OF VOLUNTEERS: ESTIMATED AMOUNT BASED ON TWO YEAR AVERAGE. FORM 990, PART III, LINE 1: THE FUNDAMENTAL MISSION OF BROOKLYN LAW SCHOOL IS TO PROVIDE ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, AND ETHICAL VALUES NEEDED FOR A CAREER IN THE LAW. A WELL-ROUNDED LEGAL EDUCATION EXPOSES STUDENTS TO THEORY AND LEGAL DOCTRINE, AND GIVES THEM THE PRACTICAL SKILLS THAT WILL BE EXPECTED OF THEM AS LAWYERS. IN ORDER TO ACHIEVE ITS MISSION, THE LAW SCHOOL HAS CREATED, AND IS CONTINUING TO CREATE, A COMMUNITY OF OUTSTANDING LEGAL SCHOLARS AND TEACHERS AND STUDENTS WHO ARE AMONG THE BEST AND THE BRIGHTEST. BROOKLYN LAW SCHOOL IS DEDICATED TO CONTRIBUTING TO THE ADVANCEMENT OF OUR UNDERSTANDING OF LAW, LEGAL INSTITUTIONS, AND SOCIETY AT LARGE. BROOKLYN LAW SCHOOL'S FACULTY PRODUCES AN IMPRESSIVE BODY OF WORK, INCLUDING CASEBOOKS, TREATISES, AND ARTICLES IN DISTINGUISHED LAW JOURNALS. THE FACULTY'S STATURE HAS GREATLY ENHANCED THE LAW SCHOOL'S REPUTATION THROUGHOUT THE UNITED STATES AND ABROAD. BROOKLYN LAW SCHOOL BOASTS MORE THAN A CENTURY OF EXPERIENCE IN TRAINING STUDENTS TO ENGAGE IN THE PRACTICE OF LAW. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 SHALL BE DISTRIBUTED BY THE CHIEF FINANCIAL OFFICER TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO BEING SUBMITTED TO THE IRS. THE DRAFT FORM 990 SHALL BE DISTRIBUTED EARLY ENOUGH TO PROVIDE EACH AUDIT COMMITTEE MEMBER WITH A REASONABLE AMOUNT OF TIME FOR REVIEW AND SUBMISSION OF QUESTIONS OR COMMENTS PRIOR TO THE FILING DEADLINE. THE FINAL FORM 990 SHALL BE DISTRIBUTED TO EACH BOARD MEMBER PRIOR TO BEING FILED WITH THE IRS. THE DRAFT AND FINAL FORM 990 MAY BE DISTRIBUTED IN PERSON, BY REGULAR MAIL, E-MAIL, OR FAX. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND PROCEDURES ARE DESIGNED TO ENSURE THAT WHENEVER A MATTER IS DISCUSSED OR A DECISION IS MADE BY THE LAW SCHOOL'S GOVERNING BOARD OR COMMITTEE, BOARD AND COMMITTEE MEMBERS FIRST ARE MADE AWARE OF THE EXISTENCE OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE POLICY ALSO REQUIRES THE LAW SCHOOL TO GATHER INFORMATION ABOUT SUCH CONFLICTS. THIS IS DONE BY REQUIRING EACH BOARD MEMBER, OFFICE, AND KEY EMPLOYEE AND ANY OTHER PERSON WHO REGULARY ATTENDS THE LAW SCHOOL BOARD AND COMMITTEE MEETING TO COMPLETE AND FILE A CONFLICT OF INTEREST DISCLOSURE STATEMENT BEFORE SERVING ON THE LAW SCHOOL BOARD OR ANY COMMITTEE. THE DISCLOSURE STATEMENT REQUIRES EACH BOARD MEMBER, OFFICER, OR KEY EMPLOYEE TO DISCLOSE ANY BUSINESS OR PERSONAL INTERESTS, DIRECT OR INDIRECT, WHAT THE PERSON MAY HAVE IN ANY ENTITY THAT DOES BUSINESS WITH THE LAW SCHOOL. THE POLICY AND THE DISCLOSURE STATEMENT CONTAIN THE INFORMATION AND DEFINITIONS EACH PERSON WILL NEED TO PROPERLY COMPLETE HIS OR HER PERSONAL DISCLOURE STATEMENT. THE PROCEDURES ARE PERFORMED ANNUALLY. EACH TRUSTEE, OFFICER, KEY EMPLOYEE, AND MEMBER OF A COMMITTEE WITH BOARD DELEFATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH A PERSON - A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY AND PROCEDURES, B. HAD READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, D. UNDERSTANDS THAT THE LAW SCHOOL IS A TAX-EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN IT'S FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION POLICY IS INTENDED TO COMPLY WITH IRS FORM 990 REPORTING AND APPLIES TO THE "COMPENSATION" OF BROOKLYN LAW SCHOOL'S "KEY EMPLOYEES AND "OFFICERS". (A) REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES: THE COMPENSATION OF ANY KEY EMPLOYEE OR OFFICER THAT FULFILLS THE CRITERIA DEFINED IN THIS POLICY SHALL BE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE, PROVIDED THAT ANY PERSONS WITH CONFLICTS OF INTEREST SHALL NOT BE INVOLVED IN THE REVIEW AND APPROVAL OF THE COMPENSATION ARRANGEMENT. (1) APPLICABLE CONFLICT OF INTEREST POLICY PROVISIONS. PURSUANT TO BROOKLYN LAW SCHOOL'S CONFLICT OF INTEREST POLICY AND PROCEDURES, THE FOLLOWING RESTRICTIONS APPLY WITH RESPECT TO THE INDIVIDUALS WHO MAY REVIEW AND APPROVE EXECUTIVE COMPENSATION ARRANGEMENTS: A) A VOTING MEMBER OF THE BOARD OF TRUSTEES WHO RECEIVES COMPENSATION FOR SERVICES FROM BROOKLYN LAW SCHOOL, WHETHER DIRECTLY OR INDIRECTLY, AND ANY OTHER TRUSTEE WHO IS THAT VOTING MEMBER'S "IMMEDIATE FAMILY MEMBER," IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION, OR THE COMPENSATION OF ANY OTHER MEMBER OF THE "INDEPENDENT EVALUATION COMMITTEE, OR ANY TRANSACTION WITH A BUSINESS IN WHICH EITHER THE MEMBER OR ANY OTHER MEMBER OF THE INDEPENDENT EVALUATION COMMITTEE HOLDS A "FINANCIAL INTEREST." B) A VOTING MEMBER OF ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION FROM THE ORGANIZATION FOR SERVICES, WHETHER DIRECTLY OR INDIRECTLY, IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO HIS/HER COMPENSATION OR THE COMPENSATION OF ANY MORE SENIOR STAFF EXECUTIVE OF BROOKLYN LAW SCHOOL. (B) USE OF DATA FOR COMPARABLE COMPENSATION: PRIOR TO APPROVING THE COMPENSATION OF ANY KEY EMPLOYEE OR OFFICER, THE COMPENSATION COMMITTEE SHALL REVIEW AND EVALUATE HIS OR HER COMPENSATION USING DATA FOR COMPARING COMPENSATION OF SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED EDUCATIONAL INSTITUTIONS. (C) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING: THE COMPENSATION COMMITTEE SHALL CONTEMPORANEOUSLY DOCUMENT AND MAINTAIN RECORDS OF ITS DELIBERATIONS AND DECISIONS REGARDING SUCH COMPENSATION ARRANGEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE LAW SCHOOL MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 43,635. OTHER POST-RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS -331,599.