2019-05-15T16:50:39-05:00 2018-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2017-07-01 131099420 NEW YORK MEDICAL COLLEGE % ADAM HAMMERMAN NEWY 9145941000 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ADAM HAMMERMAN VP & CFO 9145941000 2019-05-15 true MARY-EVELYN ANTONETTI P00431862 2127589700 2019-05-14 167.68.102.5 13407320191355000089 2019-05-15 P F8B4465DB3A3A929F551AAF0BEF08605FCC9362F B09A8F7452AAEB109EF01FBCB66ABFE0CB6B8889 2017 2019-02-21 02:37:17Z EDWARD C HALPERIN MD 40 SUNSHINE COTAGE ROAD VALHALLA NY 10595 149433836 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 1205 1142 607098 -22704 4249326 2733576 112294085 111528704 3083978 4166323 3560093 3252390 123187482 121680993 5334280 6132057 0 0 86105607 84190137 0 0 1428790 34182349 35649860 125622236 125972054 -2434754 -4291061 329133532 327670788 152855372 152500461 176278160 175170327 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 75588987 6132057 85152302 PROFESSIONAL EDUCATION: EDUCATE INDIVIDUALS FOR CAREERS IN MEDICAL, SCIENCE AND HEALTH PROFESSIONS. 21250828 21717658 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. 2338190 5721354 AUXILIARY: Campus services (housing and dining) provided to the students and the NYMC community to live and function on campus. 99178005 true true false true false false false false true true true true false false true true true 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 false false false true 371 0 true 1205 true true true false false false false true true 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 X ADAM HAMMERMAN 9145944750 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 X Mark Hasten Trustee 0.54 0.0 X 0 0 0 Alan Kadish Trustee 1.35 33.65 X X 0 737223 190526 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 0.0 X 0 0 0 Dee Delbello Trustee 0.23 0.0 X 0 0 0 Menachem Genack Trustee 0.19 34.81 X 0 78128 3075 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 Trustee 0.58 0.0 X 0 0 0 Alina Moran Trustee (BEG. 1/3/18) 0.31 0.0 X 0 0 0 Stephen J Nicholas Trustee 0.04 0.0 X 0 0 0 Martin Oliner Trustee 0.31 0.0 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 (BEG. 5/23/18) 0.12 0.0 X 0 0 0 Stephen Rosenberg Trustee 0.0 0.0 X 0 0 0 Alan Rosenthal Trustee (BEG. 6/28/18) 0.12 0.0 X 0 0 0 Henry Saphier Trustee 0.42 0.0 X 0 0 0 Joseph Schwartz Trustee 0.31 0.0 X 0 0 0 ROSALYN ESTHER STAHL Trustee 0.31 0.0 X 0 0 0 Kenneth Theobalds Trustee (BEG. 1/3/18) 0.31 0.0 X 0 0 0 Robert Amler DEAN SHSP 35.0 0.0 X 374568 0 27376 Edward C Halperin Chancellor, CEO, Interm. Dean 35.0 0.0 X 542661 0 51823 Adam Hammerman VP & CFO 35.0 0.0 X 223540 0 58872 Nicholas Janiga VP & Chief Counsel, Asst. Sec. 35.0 0.0 X 10385 0 655 Amy Kahn END 121517 VP Development & Alum Affairs 35.0 0.0 X 207326 0 46571 D Douglas Miller END 71317 Dean School of Medicine 35.0 0.0 X 677834 0 38816 Michael Newman Secretary 0.5 34.5 X 0 278584 51336 David Raab Executive VP (END 9/3/18) 10.0 25.0 X 297100 32940 58527 Mitchell Cairo Professor 35.0 0.0 X 478664 0 64630 Renee Garrick Chief Medical Officer 35.0 0.0 X 488537 0 73809 Michael Gewitz Director 35.0 0.0 X 462118 0 61528 Gustavo Stringel Professor 35.0 0.0 X 347499 0 60156 Gerard M Villucci Administrator V 35.0 0.0 X 376392 0 66593 Francis Belloni Dean, GSBMS (END 6/30/17) 35.0 0.0 X 205943 0 53771 George Nestler AVP. & Controller(end 6/30/17) 35.0 0.0 X 164967 0 53878 Jennifer Riekert VP Communications(END 6/30/17) 35.0 0.0 X 148620 0 10781 Michael Rogovin VP Operations (END 6/30/17) 35.0 0.0 X 175291 0 56209 5181445 1126875 1028932 187 true true false Pavarini North East Construction Co 30 OAK STREET STAMFORD CT 06905 CONSTRUCTION 7036086 TEMCO FACILITY SERVICES PO Box 8000 BUFFALO NY 14267 CLEANING SERVICE 1069301 Align Communications Inc 55 Broad St 6th Fl NEW YORK NY 10004 IT SERVICE & SUPPORT 513916 Hi Link Computers Corp 60 LONG RIDGE ROAD STAMFORD CT 06902 COMPUTERS & SOFTWARE 503894 Fisher Scientific Co PO BOX 3648 BOSTON MA 022413648 LAB SUPPLIES & EQUIP 388811 51 388638 245286 2099652 109558 2733576 Tuition and Fees 611310 65035198 65035198 Affiliation Fees 611310 16672141 16672141 RESEARCH AND SPONSORED PROJECTS 611310 19054494 19054494 Faculty Practice Plans 611310 5045517 5045517 Auxiliary Enterprises 611310 5721354 5721354 111528704 2850534 236306 -29878 2644106 168796 168796 0 4629282 2638494 1990788 0 1990788 122500 1868288 26173819 25026826 1146993 1146993 1146993 8345 388638 87523 -79178 -79178 0 0 0 0 0 0 COMPARATIVE MEDICINE 611310 1285187 770711 514476 OTHER REVENUE 611310 55593 55593 1340780 121680993 112591314 607098 5749005 894191 894191 5237866 5237866 0 0 2551243 844580 1559123 147540 71182 71182 62478977 53350686 8689056 439235 4304108 3755561 519336 29211 10731920 8430702 2159058 142160 4052707 3353866 654584 44257 0 210488 210488 376434 376434 37349 37349 0 263584 263584 3769796 2552874 1154808 62114 142341 77050 65291 1967367 1442729 404489 120149 900596 337309 495339 67948 0 5382913 677588 4705236 89 750133 614332 126283 9518 0 182618 163176 16455 2987 4748922 3992053 756869 0 10256394 8131101 2008488 116805 632883 35885 596998 Supplies 3393075 3384814 7773 488 Student Activities 1327667 1326167 1000 500 DUES & MEMBERSHIPS 508452 259530 243638 5284 CATERING & FOOD SERVICE 321217 237696 40038 43483 477631 155299 190601 131731 125972054 99178005 25365259 1428790 21640 4918962 29975453 11974957 8936539 3374053 5807295 12281731 0 0 0 0 9609075 8267769 114286 114286 1386236 1185357 239751429 58347214 177432391 181404215 0 0 85574914 93873755 0 0 10200000 10200000 75703 75703 329133532 327670788 26900472 31464377 0 0 14321746 14634296 49390969 49679330 2218702 1146745 0 0 19500000 18885125 0 0 40523483 36690588 152855372 152500461 X 116107592 113267415 20710624 21480885 39459944 40422027 176278160 175170327 329133532 327670788 X -4291061 3244718 6466 -67956 X false true X true true true X false false false false false false true 37053 false true 296 37349 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 $37,053 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. false true X 66284782 1687842 5438747 2958787 107256 70345328 62771921 986954 4806356 2276230 4219 66284782 66345921 288000 -1125000 2593000 144000 62771921 63114921 4571000 1102000 2340000 102000 66345921 55546921 1399000 8635722 2349000 117722 63114921 0.43400 0.27100 0.29500 false false 24034730 24034730 173010283 35571789 137438494 390466 196804 193662 23224130 14213577 9010552 19091820 8365044 10726777 181404215 STIFEL NICHOLAS INVESTMENT 78893594 F BENEFICIAL INTEREST TRUSTS 12441492 F COMMONFUND 1593670 F REAL ESTATE INVESTMENTS 425015 F INVESTMENTS HELD BY COLLEGE 233529 F PARTNERSHIP INVESTMENTS 187940 F GIFT ANNUITY 98515 F 93873755 0 TAXABLE BONDS 30061626 REFUNDABLE FED. STUDENT LOANS 6334748 OTHER LIABILITIES 294214 36690588 X 122373058 3244718 3462070 6706788 115666270 263584 5751139 6014723 121680993 123530219 3572888 3572888 119957331 263584 5751139 6014723 125972054 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, 2018, 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 2,638,494 CHANGE IN FMV IN PERPETUAL TRUST 360,280 REVENUE FROM CONSOLIDATED ORGANIZATION 375,773 SPECIAL EVENT EXPENSES 87,523 -------------- 3,462,070 SCHEDULE D, PART XI, LINE 4B SCHOLARSHIPS 4,915,638 TUITION REMISSION 322,228 COMP MED REVENUE RECORDED AS EXPENSE ON AFS 513,273 ---------------- 5,751,139 SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSES 2,638,494 POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS 428,236 SPECIAL EVENT EXPENSES 87,523 EXPENSES FROM CONSOLIDATED ORGANIZATION 418,636 --------------- 3,572,888 SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS 4,915,638 TUITION REMISSION 322,228 COMP MED REVENUE RECORDED AS EXPENSE ON AFS 513,273 ---------------- 5,751,139 5,751,139 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. false Central America and the Caribbean 0 0 Investments 3105032 0 0 0 0 3105032 3105032 true false true true true 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 396983 388638 8345 21322 32271 33930 0 396983 388638 8345 21322 32271 33930 87523 -79178 true Oregon Health and Science University 2525 SW 3rd Ave Ste 245 Porland OR 97201 931176109 OREGON 533513 RESEARCH University of Rochester 601 Elmwood Ave Box 677 Rochester NY 14642 160743209 501(c)(3) 82278 RESEARCH Open Door Family Medical Center 165 Main Street ossining NY 10562 132813103 501(C)(3) 74115 RESEARCH Touro University California 1310 Club Drive Vallejo CA 94592 133838746 501(C)(3) 58814 RESEARCH University of Toledo 2801 Bancroft Street toledo OH 43606 346401483 OHIO 38279 RESEARCH University of Maryland Baltimore 685 W Baltimore St baltimore MD 02111 526002033 MARYLAND 36377 RESEARCH Baystate Medical Center Inc 759 Chestnut Street Springfield MA 01199 042790311 501(C)(3) 22076 RESEARCH Univ of California One Shields Avenue 8701 WATERTOWN PLANK RD Davis CA 95616 946036494 CALIFORNIA 11423 RESEARCH Sloan-Kettering Inst for Cancer Research 1275 York Avenue new york NY 10065 131624182 501(C)(3) 11060 RESEARCH Touro College 500 7th Ave 5th FL new york NY 10018 132676570 501(C)(3) 9254 RESEARCH Tufts Medical Center 800 Washington Street 453 boston MA 02111 270440772 501(C)(3) 8909 RESEARCH 11 SCHOLARSHIPS & GRANTS 380 5237866 SCHEDULE I, PART I, LINE 2 SCHOLARSHIPS ARE AWARDED BASED ON MERIT. 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 X X X true false false false false false false false false Alan Kadish Trustee 735639 1584 15963 174563 927749 Francis Belloni Dean, GSBMS (END 6/30/17) 203332 0 0 2611 0 25706 0 35640 0 267289 0 0 0 George Nestler AVP. & Controller(end 6/30/17) 162945 0 0 2022 0 19747 0 40513 0 225227 0 0 0 Jennifer Riekert VP Communications(END 6/30/17) 148500 0 0 120 0 10750 0 1180 0 160550 0 0 0 Michael Rogovin VP Operations (END 6/30/17) 174593 0 0 698 0 15328 0 42082 0 232701 0 0 0 Robert Amler DEAN SHSP 351261 0 0 0 23307 0 25690 0 5741 0 405999 0 0 0 Edward C Halperin Chancellor, CEO, Interm. Dean 522381 0 300 0 19980 0 25309 0 27864 0 595834 0 0 0 Adam Hammerman VP & CFO 216224 0 7000 0 316 0 20190 0 39941 0 283671 0 0 0 Amy Kahn END 121517 VP Development & Alum Affairs 199000 0 7500 0 826 0 17950 0 29853 0 255129 0 0 0 D Douglas Miller END 71317 Dean School of Medicine 281430 0 0 396404 0 25150 0 14494 0 717478 0 0 0 Michael Newman Secretary 0 278039 0 0 0 545 0 10554 0 40782 0 329920 0 0 David Raab Executive VP (END 9/3/18) 273514 0 0 23586 32940 25690 0 32837 0 355627 32940 0 0 Mitchell Cairo Professor 456854 0 0 0 21810 0 25690 0 39464 0 543818 0 0 0 Renee Garrick Chief Medical Officer 486257 0 300 0 1980 0 34104 0 41054 0 563695 0 0 0 Michael Gewitz Director 457773 0 300 0 4045 0 34140 0 27388 0 523646 0 0 0 Gustavo Stringel Professor 341319 0 0 6180 0 34140 0 27336 0 408975 0 0 0 Gerard M Villucci Administrator V 375942 0 0 450 0 25690 0 42414 0 444496 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 4A SEVERANCE PAYMENTS D. DOUGLAS MILLER - $364,435 A Dormitory Authority of the State of New York 2014A 146000293 649907M82 2014-06-26 59716460 Construction and real estate acqui false false true A 150000 0 48338203 4725062 3932790 0 900851 0 0 37951254 0 2211436 false false true true A false false true true false 0 false false false true A false true false false false false 0 false 0 false true A true PART I, LINE I 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. SUBSTANTIAL CONTRIBUTOR 23 Affiliated Teaching HospiTAL 15881370 Affiliation Fees false SUBSTANTIAL CONTRIBUTOR 52 External Auditor 298045 Auditing Fees false SUBSTANTIAL CONTRIBUTOR 36 Investment Manager 150000 Advisory Fee false Kristen Nestler Former Officer's Daughter 68325 Employee at the College false Yonatan Hammerman Officer's Son 2858 Temporary Employee false X 14 109558 FMV false true false Schedule M, Line 9, Column B The number listed in Part I, Column (B), is the number oF contributions. 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. FORM 990 PART VI 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 COLLEGES 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 CORPORATIONS OPERATING BUDGET; VI. APPROVAL OF THE ESTABLISHMENT OF A NEW RELATED ENTITY OF THE CORPORATION; VII. REMOVAL WITH OR WITHOUT CAUSE OF ANY OR ALL OF THE TRUSTEES; VIII. APPROVAL OF (A) THE PURCHASE, SALE, MORTGAGE OR LEASE OF REAL PROPERTY WHICH CONSTITUTES A MATERIAL PORTION OF THE ASSETS OF THE CORPORATION OR (B) THE SALE, ASSIGNMENT OF OTHER DISPOSITION OF ALL OR A MATERIAL PORTION OF THE ASSETS OF THE CORPORATION; IX. APPROVAL OF ANY MERGER, CONSOLIDATION, PURCHASE OR JOINT OPERATION AGREEMENT INVOLVING THE CORPORATION; AND X. APPROVAL OF ANY PLAN OF DISSOLUTION OR LIQUIDATION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE NEW YORK MEDICAL COLLEGE FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM THEN REVIEWED BY SENIOR MANAGEMENT, SPECIFICALLY THE ASSOCIATE VICE PRESIDENT AND CONTROLLER, VICE PRESIDENT FOR FINANCIAL OPERATIONS AND GENERAL COUNSEL AND SUBMITTED TO AND REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. COPIES OF THIS RETURN WERE DISTRIBUTED TO THE FULL BOARD OF TRUSTEES BEFORE THE FORM WAS FILED. 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. FORM 990, PART VI, SECTION B LINE 15 LINES 15A AND 15B NEW YORK MEDICAL COLLEGES 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 FORM 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. THE REVIEW AND APPROVAL PROCESS IS FULLY AND CONTEMPORANEOUSLY DOCUMENTED. 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. FORM 990, PART XI, LINE 9 FORM 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 360,280 POST RETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS (428,235) ------------------ TOTAL OTHER CHANGES IN NET ASSETS (67,955) 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 HOLDING COMP. DE 501 (C)(3) 12B NA 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 Touro College FND For Jewish Studies 500 7TH AVE NEW YORK NY 10018 133629225 EDUCATION NY 501 (C)(3) 12A(I) TOUROCOLLEGE true The Partnership For A Healthy Population 500 7TH AVE NEW YORK NY 10018 134028993 HEALTH STUDY NY 501 (C)(3) 4 TOUROCOLLEGE true Touro College Berlin GGMBH Berlin AM RUPERHORN 4 BERLIN GM 14055 EDUCATIONAL GM 501 (C)(3) 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 NA false Hebrew Theological College 7135 CARPENTER RD SKOKIE IL 60077 362167095 EDUCATIONAL IL 501 (C)(3) 2 TOUROCOLLEGE true SARAH C UPHAM CLINIC TRUST 270 PARK AVE NEW YORK NY 100172014 136035797 PATIENT CARE NY NA Trust true BARBARA AND WILLIAM ROSENTHAL FDN ONE COURT SQUARE LONG ISLAND CITY NY 11120 226753977 PATIENT CARE NY NA Trust true TOURO SPEECH & REHAB 500 7th avenue NEW YORK NY 10018 134180235 INACTIVE NY NA C Corp true TOURO FOUNDATION CORPORATION 500 7th avenue NEW YORK NY 10018 134014618 INACTIVE NY NA C Corp true TOURO UNIVERSITY FOUNDATION 500 7th avenue NEW YORK NY 10018 943318585 INACTIVE CA NA C Corp true false true false false false false false false false true false false false false true true true false true Sarah C Upham Clinic Trust s 364000 cash