2019-05-15T16:30:19-05:00 2018-06-30 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2017-07-01 132676570 TOURO COLLEGE % STUART LIPPMAN CONTROLLER TOUR 6465656000 500 SEVENTH AVENUE NEW YORK NY 10018 MELVIN NESS SENIOR VP AND CFO 6465656000 2019-05-14 true MARY-EVELYN ANTONETTI P00431862 2127589700 2019-05-14 167.68.102.5 13407320191355000085 2019-05-15 P F8B4465DB3A3A929F551AAF0BEF08605FCC9362F DA4F556549C95AEC1A4590AB9843AE87D4A12B12 2017 2019-02-21 02:37:17Z MELVIN NESS 500 7TH AVE NEW YORK NY 10018 377356218 false X WWW.TOURO.EDU X 1970 NY THE COLLEGE'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF OF HIGHER AND PROFESSIONAL EDUCATION. (SEE SCHEDULE O) 23 15 3624 375 -4085 353143 13518576 9715635 250060425 262618247 629485 25517383 19966516 21446389 284175002 319297654 32669818 39718058 0 0 152341014 152066972 0 0 1933386 95108022 100283669 280118854 292068699 4056148 27228955 353847144 440731204 179110773 237331810 174736371 203399394 X THE COLLEGE'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER AND PROFESSIONAL EDUCATION. (SEE SCHEDULE O) false false 263678942 39216955 283569691 ACADEMIC SUPPORT: WITHIN THE TOURO SYSTEM, TOURO COLLEGE PROVIDED EDUCATION, PRIMARILY IN THE NEW YORK CITY METROPOLITAN AREA, TO APPROXIMATELY 12,000 UNDERGRADUATE, GRADUATE AND PROFESSIONAL STUDENTS DURING THE FISCAL YEAR IN VARIOUS FIELDS OF STUDY, INCLUDING LAW, MEDICINE AND OTHER HEALTHCARE FIELDS, GRANTING THE FOLLOWING ACADEMIC DEGREES: UNDERGRADUATE (1,868); GRADUATE (1,895); FIRST PROFESSIONAL (558). SEE SCHEDULE O. 263678942 true true false true false false false true false true true false false true true true false true true true true true true false true false false true true true true false false false false false true false true true true true false false false true true true true false false true 467 0 true 3624 true true true true GM IS false false false true true false false false false X 23 15 true false false false false false false true true false true true true true true true true true true false false NY X STUART LIPPMAN CONTROLLER 6465656026 500 SEVENTH AVENUE NEW YORK NY 10018 X Mark Hasten Chairman and Trustee 1.0 3.5 X 0 0 0 Alan Kadish President, CEO and Trustee 18.0 17.0 X X 737223 0 190526 Daniel Lander Chancellor and Trustee 3.0 32.0 X X 95550 258022 124037 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 0.4 0.6 X 0 0 0 Allen Fagin Trustee 0.8 0.2 X 0 0 0 Howard Friedman Trustee 0.8 0.2 X 0 0 0 Gilles Gade Trustee-BEG. 1/18 0.8 0.2 X 0 0 0 Menachem Genack TRUSTEE AND PROFESSOR 31.0 4.0 X 26579 51549 3075 Solomon Goldfinger Trustee 0.8 0.2 X 0 0 0 Abraham Gutnicki Trustee 0.8 0.2 X 0 0 0 Leah Karfunkel Trustee 0.8 0.2 X 0 0 0 Brian Levinson Trustee 0.8 0.2 X 0 0 0 David Lichtenstein Trustee 0.8 0.2 X 0 0 0 Martin Oliner Trustee 0.5 0.5 X 0 0 0 Lawrence Platt Trustee 0.8 0.2 X 0 0 0 Margaret Retter Trustee-BEG. 1/18 0.8 0.2 X 0 0 0 Stephen Rosenberg Trustee 0.8 0.2 X 0 0 0 Zvi Ryzman Trustee 0.8 0.2 X 0 0 0 Israel Sendrovic Trustee 0.8 0.2 X 0 0 0 Jack Weinreb Trustee 0.8 0.2 X 0 0 0 Sheldon Wolfe Trustee 0.8 0.2 X 0 0 0 Matthew Bonilla VP of Student Services 21.0 14.0 X 239994 0 40937 Stanley Boylan VP of Undergraduate Education 34.0 1.0 X 118799 0 62744 Richard Braunstein VP, Deputy General Counsel 23.0 12.0 X 220423 0 30450 Alan Ciner Vice President 35.0 0.0 X 125880 0 59755 Jerome Dimperio end118 VP of Real Estate, Constructio 35.0 0.0 X 208322 0 1962 Robert Goldschmidt VP of Planning & Assessment 35.0 0.0 X 162660 0 26830 Nadia Graff VP of Grad and Prof Studies 35.0 0.0 X 234043 0 13688 Moshe Krupka Executive VP 18.0 17.0 X 179000 0 143112 David Raab Executive VP 14.0 21.0 X 32940 297100 58527 Jeffrey Rosengarten Senior VP of Oper. & Admin. 29.0 6.0 X 277482 0 13828 Henry Rubin VP, Institutional Advancement 28.0 7.0 X 78783 0 5591 Israel Singer Vice President 35.0 0.0 X 128381 0 10741 Eva Spinelli VP of Community Education 35.0 0.0 X 63027 0 8449 Franklin Steen VP of Technology 29.0 6.0 X 234140 0 33483 Marian Stoltz-Loike VP, Online Education 35.0 0.0 X 233337 0 33465 Melvin Ness Senior VP, CFO 25.0 10.0 X 287262 0 32705 Michael Newman Secretary, Sr. VP and Gen Coun 24.0 11.0 X 278584 0 51336 Judah Weinberger-B717 VP OF COLLABORATIVE MEDICINE 35.0 0.0 X 211267 0 2020 Henry Cohen Dean, Pharmacy 35.0 0.0 X 281016 0 54169 Martin Diamond-END 118 Dean Emeritus, TouroCom 35.0 0.0 X 287434 0 34499 Robert Goldberg Former Dean of TouroCom 35.0 0.0 X 427845 0 23110 Jay P Goldsmith Dean Emeritus, Dental School 35.0 0.0 X 277991 0 6731 Ronnie Myers-BEG 717 Dean, Dental School 35.0 0.0 X 312663 0 4665 Louis Primavera Dean, School of Health Science 35.0 0.0 X 252189 0 14900 Patricia Salkin Provost Grad and Prof Schools 34.5 0.5 X 327493 0 45346 Arnold Spinner Dean, Grad Ed 35.0 0.0 X 159725 0 9364 Kenneth Steier Dean, Professor 35.0 0.0 X 376922 0 42320 Harold Abramson PROFESSOR 35.0 0.0 X 247380 0 35079 Harry Ballan Dean, Law Center 35.0 0.0 X 234774 0 27749 Edward F Farkas Vice Dean, Touro Dental School 35.0 0.0 X 256715 0 38778 Steven Huberman Dean, School of Social Work 35.0 0.0 X 231965 0 26587 Arthur Prancan Associate Professor 35.0 0.0 X 285867 0 33492 8133655 606671 1344050 226 false true false EXCEL GUARD CORP 505 EIGHTH AVENUE SUITE 1700 NEW YORK NY 10018 SECURITY GUARDS 2642742 ELLUCIAN COMPANY 62590 COLLECTIONS CENTER DR CHICAGO IL 60693 CLOUD COMP. SERVICES 2095295 KPMG LLP Dept 0511 POB 150511 DALLAS TX 753120511 Accounting Services 778406 EWD Inc 190 Spring Street NEW YORK NY 10012 EDU. CONSULTANTS 502203 Data Brains Inc 13241 Bartram Park Blvd JACKSONVILLE FL 32258 SOFTWARE CONSULTANTS 382660 45 386555 6433992 2895088 30865 9715635 Student Tuition/ Fees 611600 259915036 259915036 Dorm Fees 611600 2703211 2703211 262618247 638925 -4085 643010 0 0 470449 470449 0 470449 470449 3763514 79000000 3191866 54693190 571648 24306810 24878458 24878458 198004 386555 173508 24496 24496 0 0 0 0 0 0 Academic Support 900099 18229684 18229684 COMPUTER SALES 900099 437997 437997 BOOK STORE SALES 900099 18674 18674 2265089 2265089 20951444 319297654 283569691 -4085 26016413 4596000 4596000 34620955 34620955 501103 501103 0 7892922 4069713 3742730 80479 831356 750828 73956 6572 116840492 105870867 10058607 911018 3467579 3073025 365002 29552 14666121 12997356 1543777 124988 8368502 7416302 880881 71319 0 802186 710911 84439 6836 653926 653926 187500 166165 19737 1598 0 245927 217944 25887 2096 7674024 6800845 807779 65400 5351401 4742499 563296 45606 4760335 4220278 512934 27123 6551017 5805618 689570 55829 0 35602785 31551768 3747601 303416 1890549 1675435 199002 16112 0 245548 217608 25847 2093 196802 196802 0 14421569 12780630 1518035 122904 3262129 2890951 343376 27802 Educational Programs Expense 12016631 12016631 BAD DEBT EXPENSE 954209 954209 DUES, SUB & MEMBERSHIP 930537 824657 97950 7930 STUDENT ACTIVITIES 647848 647848 3888746 3558796 305237 24713 292068699 263678942 26456371 1933386 8960762 33127555 0 0 6610148 6376384 3116627 10153868 310394 145899 0 0 18541420 16539972 0 0 3616759 6355368 404877043 142927033 244799139 261950010 16041263 39699936 2165794 617500 0 0 641667 600000 49043171 65164712 353847144 440731204 28787227 43852627 0 0 23427143 27747229 67461822 134073051 0 0 0 0 56973076 27174136 0 0 2461505 4484767 179110773 237331810 X 164768931 192922642 7742933 8214043 2224507 2262709 174736371 203399394 353847144 440731204 27228955 1500773 -66705 X false true X true true true X 6985755 38983628 19730763 13518576 9715635 88934357 0 0 6985755 38983628 19730763 13518576 9715635 88934357 0 88934357 207428 252933 1076851 1246412 1109374 3892998 70951 70133 24496 165580 1645083 8124269 19936660 18972115 20951444 69629571 162622506 1151767696 0.54688 0.80028 X false false false false false false true 187500 false false 187500 false OTHER ACTIVITIES Form 990 Sch C Part II-B line 1(G) THE UNIVERSITY HIRED LOBBYISTS TO ASSIST IN OBTAINING GRANTS AND APPROVALS 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. 462074 X false 22550386 32172451 1371878 616767 196132 120916 55160900 20684606 1053472 1975996 283300 216455 663933 22550386 20587634 1458849 -562780 85075 129388 584634 20684606 19617660 1230957 527195 147012 66722 574444 20587634 17701602 1702411 1165721 204479 224558 523037 19617660 0.67720 0.04100 0.28180 false false 15838576 15838576 160217629 53767049 106450580 72020356 35992418 36027938 42017055 22875917 19141138 114783427 30291649 84491778 261950010 DUE FROM/TO AFFILIATES, NET 51872281 ESCROW DEPOSIT MTI BONDS 12461065 ARTWORK 462074 OTHER LONG TERM ASSETS 350000 ADVANCES 19292 65164712 0 REFUNDABLE GOVT LOAN PROGRAM 1118379 OTHER LIABILITIES 645255 TUITION ESCROW 246535 DEFERRED RENT OBLIGATION 65TH ST 1412971 STUDENT DEPOSITS 1061627 4484767 X COLLECTION OF ART AND RELIGIOUS OBJECTS 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 $1,847,000. OTHER ARTWORK IS USED TO BEAUTIFY THE FACILITIES TO ENHANCE STUDENT AND FACULTY ACCEPTANCE OF THEIR SURROUNDINGS. 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 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. ENDOWMENT FUNDS 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 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 AND 2017, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY UNRELATED BUSINESS INCOME TAX LIABILITY WHICH WOULD HAVE A MATERIAL IMPACT UPON ITS CONSOLIDATED FINANCIAL STATEMENTS. true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY 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 SCHEDULE E, PART I, LINE 6A GOVERNMENT CONTRIBUTIONS (GRANTS) OF $6,433,992. STUDENTS ATTENDING THE COLLEGE MAY ALSO BE ELIGIBLE FOR FEDERAL FINCANCIAL AID INCLUDING STUDENT LOANS. ADDITIONALLY, THE COLLEGE RECEIVED GRANTS FROM THE GOVERNMENT FOR RESEARCH AND FACILITY IMPROVEMENTS. true Europe (Including Iceland and Greenland) 1 25 Program Services EDUCATION 1918680 Middle East and North Africa 1 28 Program Services EDUCATION 4526188 Russia and the Newly Independent States 2 Program Services EDUCATION 199056 East Asia and the Pacific Program Services EDUCATION 4774 Europe (Including Iceland and Greenland) Grantmaking 421176 Middle East and North Africa Grantmaking 79927 4 53 4 53 7149801 7149801 Europe (Including Iceland and Greenland) EDUCATION 421176 WIRE 1 FOREIGN SCHOLARSHIPS Middle East and North Africa 78 79927 wire true false true false false true OPERATIONS REVIEW 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. NY LAW DINNER 254350 149950 104400 73185 DENTAL DINNER 207755 177755 30000 54213 2 122454 58850 63604 46110 584559 386555 198004 173508 173508 24496 true YESIVAS OHR HACHAIM 500 7TH AVENUE NEW YORK NY 10018 112808947 501(C)(3) 4347000 BOOK RECEIVABLE FORGIVEN RECEIVABLE FORGIVEN Hebrew Theological College (HTC) 7135 North Carpenter Road Skokie IL 60077 362167095 501(c)(3) 249000 2 SCHOLARSHIPS 4757 34541028 MONITORING GRANTS 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 false true X X X false false false false false false false false false Alan Kadish President, CEO and Trustee 735639 0 0 0 1584 0 15963 0 174563 0 927749 0 0 0 Daniel Lander Chancellor and Trustee 95550 256438 0 0 0 1584 0 12075 0 111962 95550 382059 0 0 Matthew Bonilla VP of Student Services 239778 0 0 0 216 0 12975 0 27962 0 280931 0 0 0 Stanley Boylan VP of Undergraduate Education 118799 0 0 0 0 0 6753 0 55991 0 181543 0 0 0 Richard Braunstein VP, Deputy General Counsel 220423 0 0 0 0 0 11733 0 18717 0 250873 0 0 0 Alan Ciner Vice President 123779 0 0 0 2101 0 0 0 59755 0 185635 0 0 0 Jerome Dimperio end118 VP of Real Estate, Constructio 208322 0 0 0 0 0 0 0 1962 0 210284 0 0 0 Robert Goldschmidt VP of Planning & Assessment 159595 0 0 0 3065 0 8700 0 18130 0 189490 0 0 0 Nadia Graff VP of Grad and Prof Studies 231300 0 0 0 2743 0 11475 0 2213 0 247731 0 0 0 Moshe Krupka Executive VP 178263 0 0 0 737 0 9662 0 133450 0 322112 0 0 0 David Raab Executive VP 0 273514 0 0 32940 23586 0 25690 0 32837 32940 355627 0 0 Jeffrey Rosengarten Senior VP of Oper. & Admin. 277482 0 0 0 0 0 11423 0 2405 0 291310 0 0 0 Franklin Steen VP of Technology 234140 0 0 0 0 0 12225 0 21258 0 267623 0 0 0 Marian Stoltz-Loike VP, Online Education 232231 0 0 0 1106 0 12082 0 21383 0 266802 0 0 0 Melvin Ness Senior VP, CFO 282318 0 0 0 4944 0 13500 0 19205 0 319967 0 0 0 Michael Newman Secretary, Sr. VP and Gen Coun 278039 0 0 0 545 0 10554 0 40782 0 329920 0 0 0 Henry Cohen Dean, Pharmacy 280464 0 0 0 552 0 5371 0 48798 0 335185 0 0 0 Martin Diamond-END 118 Dean Emeritus, TouroCom 283190 0 0 0 4244 0 13500 0 20999 0 321933 0 0 0 Robert Goldberg Former Dean of TouroCom 425813 0 0 0 2032 0 11469 0 11641 0 450955 0 0 0 Jay P Goldsmith Dean Emeritus, Dental School 277991 0 0 0 0 0 6731 0 0 0 284722 0 0 0 Ronnie Myers-BEG 717 Dean, Dental School 312663 0 0 0 0 0 2260 0 2405 0 317328 0 0 0 Louis Primavera Dean, School of Health Science 247245 0 0 0 4944 0 12495 0 2405 0 267089 0 0 0 Patricia Salkin Provost Grad and Prof Schools 299121 0 0 0 28372 0 13648 0 31698 0 372839 0 0 0 Arnold Spinner Dean, Grad Ed 157080 0 0 0 2645 0 7854 0 1510 0 169089 0 0 0 Kenneth Steier Dean, Professor 376922 0 0 0 0 0 13500 0 28820 0 419242 0 0 0 Judah Weinberger-B717 VP OF COLLABORATIVE MEDICINE 210000 0 0 0 1267 0 0 0 2020 0 213287 0 0 0 Harold Abramson PROFESSOR 247380 0 0 0 0 0 6431 0 28648 0 282459 0 0 0 Harry Ballan Dean, Law Center 233846 0 0 0 928 0 0 0 27749 0 262523 0 0 0 Edward F Farkas Vice Dean, Touro Dental School 256715 0 0 0 0 0 13221 0 25557 0 295493 0 0 0 Steven Huberman Dean, School of Social Work 231965 0 0 0 0 0 5540 0 21047 0 258552 0 0 0 Arthur Prancan Associate Professor 285867 0 0 0 0 0 12240 0 21252 0 319359 0 0 0 SCHEDULE J, Part I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE THE PROVOST OF THE GRADUATE AND PROFESSIONAL SCHOOLS AND AN EXECUTIVE VP ARE 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 IS PROVIDED A CHAUFFEUR. THE VALUE OF THIS SERVICE IS INCLUDED AS A NONTAXABLE BENEFIT IN SCHDULE J, PART II, COLUMN D. BOARD APPROVAL SCHEDULE J Part I Line 1b THE BENEFITS PROVIDED TO THE PRESIDENT ARE APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD. BENEFITS PROVIDED TO THE OFFICERS ARE APPROVED BY THE PRESIDENT. SCHEDULE J, PART I, LINE 2 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 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 146000293 2014-10-22 41475000 REFINANCE TAXABLE LOAN false false false D DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 6499OH6X3 2017-12-28 69869223 ACQUIRE BUILDING false false false A 1358545 0 19520000 0 0 0 386587 0 0 19133413 0 0 2006 false false true true B 250000 0 11392662 814071 311858 0 227803 0 0 10038930 0 0 2014 false false true true C 3155000 0 41475000 0 0 0 826365 0 0 0 40648635 0 2007 true false true true D 0 0 69869223 6216046 0 0 1397384 0 0 57494281 0 4773939 false false false true A false false true false false 0 false false false true B false false true false false 0 false false false true C false false true false false 0 false false false true D false false true false false 0 false false false true A false false true true true true PEOPLES UNITED BANK 10. false false false 0 false true B false true false false false false 0 false 0 false true C false false true true 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 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: BOND A - ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2013A DATE THE REBATE COMPUTATION WAS PERFORMED: 06/18/2014. BOND C - ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK DATE THE REBATE COMPUTATION WAS PERFORMED: 04/22/2015. NOTE REGARDING THE REBATE COMPUTATIONS: SINCE THE 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. PART I, LINE B BOND B - DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014A: 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. 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. SHELDON WOLFE TRUSTEE SUPPORT TOURO COL. X 1544000 1544000 false true true officerskey EMPLOYEES VARIOUS POSITIONS PAYROLL ADVANCE X 145899 145899 false true false 1689899 ERIC GENACK TRUSTEE'S SON 48767 Faculty false PHYLLIS LANDER TRUSTEE'S SPOUSE 49644 LCM Administration false DEBRA WAXMAN TRUSTEE'S SISTER 67582 Faculty false RICHARD WAXMAN TRUSTEE'S SISTER'S SPOUSE 147381 Faculty false HANNAH LANDER TRUSTEE'S SISTER 88285 Registrar false ESTHER GREENFIELD TRUSTEE'S SISTER 111614 Director of Publications false MOSHE FRIEDMAN TRUSTEE'S GRANDSON 58124 Budget Analyst false DAVID MIRSKY TRUSTEE'S CHILD'S SPOUSE 90427 Faculty false WILLIAM FISCHBEIN TRUSTEE'S SISTER SPOUSE 71908 Faculty false RAPHAEL CSILLAG TRUSTEE'S SON 20769 Faculty false ESTHER BOYLAN OFFICER'S SPOUSE 48649 Faculty false EDNA DAVIS OFFICER'S SISTER IN LAW 48975 Faculty false X 3200 SELLING PRICE X 19 1075 SELLING PRICE X FOOD 64 9535 SELLING PRICE X EVENTS 46 10175 SELLING PRICE X EDUCATION 24 6380 SELLING PRICE X MEMBERSHIPS 6 500 SELLING PRICE false false false SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS THE AMOUNT LISTED IN COLUMN (B) REFERS TO THE NUMBER OF CONTRIBUTIONS. 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 III, LINE 4A ACADEMIC SUPPORT: TOURO COLLEGE PROVIDES STAFF AND OPERATIONAL SUPPORT FOR ACADEMIC PROGRAMS OF VARIOUS SCHOOLS WITHIN THE LARGER TOURO SYSTEM AND EACH SCHOOL PAYS TOURO COLLEGE FOR A PORTION OF THAT SUPPORT AND RECEIVES OTHER SERVICES WITHOUT CHARGE. FROM TIME TO TIME, TOURO COLLEGE RECEIVES ACADEMIC SUPPORT FROM OTHER SCHOOLS IN THE TOURO SYSTEM. DURING THIS REPORTING YEAR, THE BOARDS OF SEVERAL TOURO SYSTEM SCHOOLS VOTED TO FORGIVE PORTIONS OF THE RECEIVABLES THAT HAD ARISEN OVER THE YEARS IN THE CONTEXT OF ACADEMIC SUPPORT AMONG THOSE SCHOOLS AND THOSE FORGIVENESS EVENTS ARE REPORTED AS GRANTS RECEIVED ($0) AND GRANTS PAID ($4,596,000) ON THE TOURO COLLEGE RETURN. 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. SCHEDULE L, PART II 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, $145,899 IS INCLUDED IN LOANS AND OTHER RECEIVABLES FROM CURRENT AND FORMER OFFICERS AND KEY EMPLOYEES, AND $2,941,554 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 7TH AVE NEW YORK NY 10018 204236301 HOLDING CO. NY 63005 3242192 TOURO COLL CENTER FOR HEALTH OUTCOME RESEARCH LLC C/O TOURO COLLEGE 500 7TH AVE NEW YORK NY 10018 272347268 RESEARCH CTR. 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