2019-07-09T13:35:28-05:00 2018-08-31 GRANT THORNTON LLP 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 10017 990 2017-09-01 111630906 Hofstra University % CATHERINE HENNESSY SVP FINAN HOFS 5164636820 128 Hofstra University Hempstead NY 11549 CATHERINE HENNESSY SVP FINANCIAL AFFAIR 5164636820 2019-07-09 Daniel Romano P00504182 2125429609 147.4.182.197 11844620191905000000 2019-07-09 P 19F3BD02D384D34F52047D6FC43AEE93C1F05788 B67D28978716C58B12BF6D2960E601F33D21FF90 2017 2019-02-21 02:37:17Z STUART RABINOWITZ PRESIDENT Hofstra University Hempstead NY 11549 776320290 false X www.hofstra.edu X 1935 NY INSTITUTION OF HIGHER LEARNING 31 31 7103 1150 676119 291400 47779619 45590618 494828490 506691980 27591940 31052755 -302424 -233988 569897625 583101365 138947859 148611373 0 0 264082111 268905433 0 74000 5177336 116073619 112107516 519103589 529698322 50794036 53403043 1134969339 1209413518 390167491 383525882 744801848 825887636 INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE AND GRADUATE PROGRAMS, ALONG SIDE CO-CURRICULAR, CULTURAL PROGRAMS AND ACTIVITIES. false false 424181896 148611373 460673498 Instruction and related academic support, including research and public services, sponsored programs, scholarships, fellowships and other expenses benefiting the community. (Fall 2017 full-time equivalents of 10,722) 43466348 46018482 Auxiliary enterprises, including residence halls and food service. (approximately 3,189 students in residence halls) 467648244 true true false true false true false true true true true true false false true true true false true true true false false true true true false true true true true false false false false false false false false false false true true false false false true true true false false true 754 0 true 7103 true true true false false false false true true false false false false X 31 31 true false false false false false false true true false false true true true true true true true true false MD MA MI NH NY SC X CATHERINE HENNESSY SVP FINAN 5164636820 HOFSTRA UNIVERSITY Hempstead NY 115491280 Alan J Bernon Trustee 3.0 0.0 X 0 0 0 Martin B Greenberg Trustee 2.0 0.0 X 0 0 0 Dr Leo A Guthart Trustee 2.0 0.0 X 0 0 0 Mr Peter S Kalikow Trustee 2.0 0.0 X 0 0 0 Arthur J Kremer Esq Trustee 2.0 0.0 X 0 0 0 Mrs Karen L Lutz Trustee (until October 2017) 2.0 0.0 X 0 0 0 Mr David S Mack Trustee 2.0 0.0 X 0 0 0 Janis M Meyer Esq Trustee 2.0 0.0 X 0 0 0 Mr John D Miller Trustee 2.0 0.0 X 0 0 0 Marilyn B Monter Trustee 2.0 0.0 X 0 0 0 Ms Martha S Pope Trustee 2.0 0.0 X 0 0 0 Mr Edwin C Reed Trustee (Until October 2017) 2.0 0.0 X 0 0 0 Robert Rosenthal Trustee 2.0 0.0 X 0 0 0 Mr Frank G Zarb Trustee 2.0 0.0 X 0 0 0 Debra A Sandler Trustee 2.0 0.0 X 0 0 0 Thomas J Sanzone Trustee 2.0 0.0 X 0 0 0 Joseph Sparacio Trustee 2.0 0.0 X 0 0 0 Peter G Schiff Trustee (Until August 2018) 2.0 0.0 X 0 0 0 Steven J Freiberg Trustee 2.0 0.0 X 0 0 0 Arno H Fried Trustee 2.0 0.0 X 0 0 0 Diana E Lake Trustee 2.0 0.0 X 0 0 0 Julio A Portalatin Trustee 2.0 0.0 X 0 0 0 Kenneth Brodlieb Trustee 2.0 0.0 X 0 0 0 Michael Seiman Trustee 2.0 0.0 X 0 0 0 Leonard H Shapiro Trustee 2.0 0.0 X 0 0 0 Elizabeth McCaul Trustee 2.0 0.0 X 0 0 0 Michael Roberge Trustee 2.0 0.0 X 0 0 0 Donald M Schaeffer Trustee 2.0 0.0 X 0 0 0 Steven C Witkoff Trustee 2.0 0.0 X 0 0 0 George Tsunis Trustee 2.0 0.0 X 0 0 0 Stuart Rabinowitz President (See Sch J Notes) 60.0 0.0 X X 1499170 0 515444 Susan Catalano Trustee 2.0 0.0 X 0 0 0 Randy Levine Trustee 2.0 0.0 X 0 0 0 Stella Mendes Trustee 2.0 0.0 X 0 0 0 M Patricia Adamski SR VP FOR PLAN & ADM 60.0 0.0 X 533511 0 56976 Joseph Barkwill VP FOR FACILITIES 60.0 0.0 X 297689 0 52382 Stephanie Bushey VP for INST RESEARCH & ASSESS 60.0 0.0 X 226505 0 89477 Melissa Connolly VP for UNIV RELATIONS 60.0 0.0 X 276792 0 50646 W Houston Dougharty VP FOR STUDENT AFFAIRS 60.0 0.0 X 281170 0 51708 Jessica Eads VP FOR ENROLLMENT MANAGEMENT 60.0 0.0 X 306768 0 58938 Dolores Fredrich SVP FOR LEGAL AFFAIRS 60.0 0.0 X 510264 0 52833 Jeffrey Hathaway VP FOR ATHLETICS 60.0 0.0 X 442184 0 99628 Catherine Hennessy SVP FOR FINANCE & TREASURER 60.0 0.0 X 556079 0 69941 Robert W Juckiewicz VP FOR INFO TECH 60.0 0.0 X 345056 0 63691 Alan Kelly VP FOR DEVELOPMENT 60.0 0.0 X 395851 0 52833 Gail Simmons PROVOST 60.0 0.0 X 371998 0 35127 Mark Lesko VP for ECONOMIC DEVELOPMENT 60.0 0.0 X 337324 0 35127 Herman Berliner Former VP - Current Dean SOB 60.0 0.0 X 459944 0 78051 Eric Lane DEAN, LAW SCHOOL 60.0 0.0 X 455376 0 75032 Joseph Mihalich Mens Basketball Coach 60.0 0.0 X 447949 0 35127 Lawrence Smith Dean, SCHOOL OF MEDICINE 60.0 0.0 X 644885 0 31932 Gail Prudenti Dean, School of Law 60.0 0.0 X 400361 0 14208 8788876 0 1519101 593 true true false Stuart Berger Construction Corp 368 Ocean Avenue LYNBROOK NY 11563 Construction 4844127 ACC Construction Corporation 6 E 32nd Street 7th Floor NEW YORK NY 10016 Construction 1652442 E W Howell 245 Newton Rd Suite 600 PLAINVIEW NY 11803 Construction 1554817 Structure Tone LLC 770 Broadway 9th Florr NEW YORK NY 10003 Construction 4852641 Veterans Transportation 20 Lynn Place VALLEY STREAM NY 11580 bUS sERVICE 962865 43 1452134 13083155 31055329 1060702 45590618 TUITION & FEES 611600 442663135 442663135 SALES& SVC AUX ENT 812900 46018482 45408558 609924 SALES& SVC ED DPT 900099 2532434 2532434 OTHER SOURCE ED SV 900099 15477929 15477929 506691980 13637321 66195 13571126 0 0 208977 53673 155304 0 155304 155304 209856941 192441507 17415434 17415434 17415434 312182 1452134 702106 -389924 -389924 22271 21639 632 632 0 0 0 0 583101365 506082056 676119 30752572 76550 76550 148534823 148534823 0 0 7506371 1599666 5415065 491640 0 196783799 176487373 17503403 2793023 17067246 14636475 2159516 271255 34254611 30769731 2725880 759000 13293406 11609216 1474419 209771 0 748906 88220 660686 273127 13326 259801 79346 79346 74000 74000 4977378 4977378 5499161 4255512 1243205 444 2078998 426657 1651586 755 20871298 18784574 1828809 257915 6849355 5178358 1670434 563 0 11522216 10721715 781995 18506 12627633 12102149 356978 168506 0 482437 404559 72451 5427 6319304 6045740 273564 0 21595806 15209706 6386100 5178473 875385 4303088 BAD DEBT AND COLLECTION COST 2385008 2173713 211295 0 UBI TAX 84000 84000 0 0 MEDICAL SCHOOL STIPENDS 1252330 1252330 0 0 OTHER MISC 6519063 3554789 2837743 126531 2763677 2763677 529698322 467648244 56872742 5177336 0 0 92181713 116818535 15613184 12474187 7136066 6483514 0 0 0 0 14142786 16194091 13886 5959 2829237 3594664 655033951 339813533 299517486 315220418 396683589 423936858 267288116 294392665 0 0 0 0 39563276 20292627 1134969339 1209413518 20916765 23905339 0 0 114992247 116703186 203455847 193536028 1055123 1167659 0 0 3159748 3930361 0 0 46587761 44283309 390167491 383525882 X 469336413 514101804 108335935 120467005 167129500 191318827 744801848 825887636 1134969339 1209413518 X 53403043 30312632 -2629887 X false true X true true true X 30444248 46242214 37500673 47779619 45590618 207557372 0 0 30444248 46242214 37500673 47779619 45590618 207557372 49293099 158264273 10057024 10754336 10511851 11650233 13846298 56819742 354214 329017 284908 274868 292400 1535407 347657 335007 413446 487538 334453 1918101 267830622 0.59091 0.63201 X Schedule A, Part II Schedule A, Part II has been completed solely for the purposes of displaying that the University passes the Public Support test needed for the Special Rule set forth in Schedule B. false true false true false true 79346 true 13132 true true 92478 false Schedule C, Part II-B, Line 1f The University paid membership dues to the Commission on Independent Colleges and Universities (CICU). CICU has estimated that 5.96% of its operating budget relates to lobbying activities. For the year, the portion of the dues related to lobbying activities was $3,901. On occasion, at the recommendation of CICU, the University will mail individual letters to officials to lend its support on issues relating to private higher education. The University paid $75,445 to a law firm to advise and lobby on NYS legislation and regulation and in addressing other state issues affecting private higher education. Schedule C, Part II-B, Line 1g Represents salary allocations for Officers and direct lobbying expenses as reported to NY State. 11 15840 59227 1116682 true true X X X false true 1055123 1530477 1417941 1167659 true X 553025124 29528373 56627106 7829593 14976234 4942114 611432662 444920395 71614132 60143857 6941270 12065451 4646539 553025124 410321604 24801441 31343667 6511517 11062411 3972389 444920395 411699077 18208778 -428187 5867382 9549004 3741678 410321604 360482191 14870914 53436587 5215509 8736599 3138507 411699077 0.54000 0.28000 0.18000 false false 15535127 15535127 492391266 249349513 243041753 84730833 64265748 20465085 62376725 26198272 36178453 315220418 ENDOWMENT-EQUITY FUND 101465426 F ENDOWMENT-FIXED INCOME FUND 48890651 F ENDOWMENT-HEDGE FDS/PRIV EQTY 120121108 F ENDOW SPLIT INT-CASH&CASH EQUI 34733 F OTHER-CASH&CASH EQUIV 79713 F ENDOWMENT - REAL ESTATE 15364681 F OTHER-EQUITY 1728002 F OTHER-FIXED INCOME 1932892 F OTHER-HEDGE FUND/PVT EQUITY 4775459 F 294392665 84000 OTHER LIABILITIES 9010233 US GOVT GRANTS REFUNDABLE 2820070 LIABILITY FOR POSTRETIREMENT 27007341 ASSET RETIREMENT OBLIGATION 5361665 44283309 X 460647387 30312632 745591 31058223 429589164 4977378 148534823 153512201 583101365 376931712 745591 745591 376186121 4977378 148534823 153512201 529698322 Schedule D, Part III, Line 1a The University maintains an art collection, which consists of works of art, including prints, painting, photographs, and sculptures that are held for the purpose of public exhibition, education, and research. Each item is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed by the Museum Director. The art collection is not recognized as an asset on the statement of financial position. Schedule D, Part III, Line 4 The daily, annual and long-range operations of the Hofstra University Museum are consonant with the mission of the University and consistent with the governance of the University. Just as the University holds a public trust and acts for the public good pursuant to its Charter by the Regents of the University of the State of New York, so does the Hofstra University Museum hold a public trust and acts in the public good as an agency of the University through its exhibitions; its permanent collection; its public and educational programming; as well as its interpretative, scholarly activities and publications. Schedule D, Part X, Line 1 Income generated that is unrelated to the University's exempt purpose is subject to tax. The University believes it did not have any material tax liability nor any significant uncertain tax positions for the years ended August 31, 2018 and 2017. A provision for income taxes, which is considered immaterial, has been reflected in the University's financial statements. Schedule D, Part XI, Line 2 Reconciliation of Revenue - Other Represent amounts included on Line 1, but not on Form 990, Part VIII, Line 12 and is made up of the following: Rental Expenses 21,846 Gaming Expenses 21,639 Fundraising Expenses 702,106 ------------ Total 745,591 Part XII, Line 4b represent amounts included on Form 990, Part VIII, Line 12, but not on Line 1 and is made up of the following: Scholarships of $148,534,823 Schedule D, Part XII, Line 2 Reconciliation of Expenses - Other Represent amounts included on Line 1, but not on Form 990, Part IX, Line 25 and is made up of the following: Rental Expenses 21,846 Gaming Expenses 21,639 Fundraising Expenses 702,106 ------------ Total 745,591 Part XII, Line 4b represent amounts included on Form 990, Part IX, Line 25, but not on Line 1 and is made up of the following: Scholarships of $148,534,823 Schedule D, Part I Donor Advised Funds or Other Similar Funds or Accounts There are no instances in which a donor has the right to provide advice on the investment of endowment funds. There are no instances in which the donor has the right to select how and to whom the funds are distributed. In 11 cases, the spending and distribution is recommended by a committee in which the donor has the right to be a member, or the selection of the recipient is made in consultation with the donor. In all instances the University approves the scholarship recipient, and in no instance is there a relationship between the donor and the recipient. The aggregate value of the 11 funds is $1,116,682, representing 0.18% of the total endowment value at August 31, 2018. Schedule D, Part V, Line 4 Endowment Funds The University endowment funds are used to support student scholarships, professorships, facilities and other programs. Schedule D, Part IV, Line 2b Escrow and Custodial Arrangements The University maintains custody of agency funds for various student and other university related groups. true true true true true true true false false false false false false false false true false true Schedule E, Part 1, Line 3 Racially Nondiscriminatory Policy The nondiscriminatory policy is publicized through recruitment publications, student bulletins and website. Schedule E, Part 1, Line 6a Government Support The University received government support from Federal, New York State and local sources. false Europe (Including Iceland and Greenland) 10 Program Services Study Abroad Program 510195 Central America and the Caribbean Program Services Study Abroad Program 1800 East Asia and the Pacific 1 Program Services Study Abroad Program 124011 South America Program Services Study Abroad Program 238175 Middle East and North Africa Program Services Study Abroad Program 63497 Sub-Saharan Africa Program Services Study Abroad Program 3514 South America Program Services Recruitment 15142 East Asia and the Pacific Program Services Recruitment 60296 Middle East and North Africa Program Services Recruitment 19926 North America Program Services Recruitment 2417 South Asia Program Services Recruitment 34138 Europe (Including Iceland and Greenland) Program Services Recruitment 5428 Europe (Including Iceland and Greenland) Investments 56855534 Central America and the Caribbean Investments 56831139 11 11 114765212 114765212 true true true true true false true Community Counseling Service 3349 Highway 138 East Bldg C Suit Wall NJ 07719 See part IV false 0 74000 74000 0 74000 74000 AK AR CO CT DC MD MA MI MS NV NH ND SC VA WA 2018 Gala Ball 1059313 966913 92400 0 0 272221 76325 10900 51482 2018 Suburb Div 187165 139978 47187 0 0 3298 32980 16428 8659 13 512838 343459 169379 0 0 1175 163987 36074 22360 1759316 1450350 308966 0 0 276694 273292 63402 82501 695889 -386923 22271 625 19595 0 1419 false 22271 625 19595 0 1419 21639 632 NY true false true false 1.00000 0.00000 Stacey O'Donnell 128 Hofstra University Hempstead NY 11549 false NONE true 19227 Schedule G, Part III Raffle events included prizes donated to the University which were not reported as gifts on the books of the University. Schedule G, Part III, Line 17b Total distributions (net University gaming revenue) reported in Line 17b of $19,227 exclude the expenses related to donated items of $18,595. Schedule G, Part I The University, on behalf of its Law School, retained Community Counseling Services to provide consulting services for a capital campaign. Schedule G, Part III, Line 9a The University is an "authorized organization" under NY General Municipal Law 190-a and 9 NYCRR 4600.1, by virtue of being a bona fide educational not-for-profit organization and has a Games of Chance identification number issued by the state. The statute states that authorized organizations may conduct raffles without complying with licensing requirements if raffle proceeds over the course of a calendar year are less than $ 30,000, and where the proceeds from any one raffle are less than $ 5,000. (General Municipal Law 190-a). true American Cancer Society 75 Davids Court Hauppauge NY 11788 131788491 501(C)(3) 16587 Contribution Village of Hempstead 99 Nichols Court Hempstead NY 11550 116000842 501(a) 40000 Contribution East Williston Fire Department Village of East Williston 2 Prospe East Williston NY 11596 116002108 501(c)(3) 6000 Contribution Delta Phi Epsilon Educational Foundation 251 South Camac Street Philadelphia PA 19107 431661725 501(c)(3) 13963 Contribution 4 Total Student Financial Aid (See breakdown below) Athletic Student Financial Aid 260 5708272 NA NA Undergraduate Student Financial Aid 5537 114857973 NA NA Graduate Student Financial Aid 1803 27968578 NA NA Room and Board Grants 2944568 NA NA Schedule I, Part 1, Line 2 Monitoring the Use of Grants On rare occasion, the University will match funds raised by students for worthy charitable projects. All such funds are reviewed carefully by the VP for Student Life and approved by the President upon the recommendation of the Student Government Association. Other grants may be permitted in furtherance of the University's mission and are approved by the President. Schedule I, Part III Grants and Other Assistance to Individuals The University has financial aid available in many forms, including scholarships and grants. The eligibility for financial aid is based upon student's achievement and promise, academic credentials and financial need. Schedule I, Part III, Line 5 For the room and board grant amounts, the number of recipients is not disclosed as these students are already included in Lines 2,3 and 4. X X X true true X X X X X false false false false false false false false false Stuart Rabinowitz President (See Sch J Notes) 789769 0 110000 0 599401 0 482359 0 33085 0 2014614 0 161154 0 M Patricia Adamski SR VP FOR PLAN & ADM 425470 0 50000 0 58041 0 41966 0 15010 0 590487 0 0 0 Joseph Barkwill VP FOR FACILITIES 259427 0 30000 0 8262 0 30755 0 21627 0 350071 0 0 0 Stephanie Bushey VP for INST RESEARCH & ASSESS 198153 0 15000 0 13352 0 23096 0 66381 0 315982 0 0 0 Melissa Connolly VP for UNIV RELATIONS 245538 0 20000 0 11254 0 29019 0 21627 0 327438 0 0 0 W Houston Dougharty VP FOR STUDENT AFFAIRS 256133 0 0 0 25037 0 13285 0 38423 0 332878 0 0 0 Jessica Eads VP FOR ENROLLMENT MANAGEMENT 258733 0 35000 0 13035 0 37311 0 21627 0 365706 0 0 0 Dolores Fredrich SVP FOR LEGAL AFFAIRS 417887 0 50000 0 42377 0 31206 0 21627 0 563097 0 0 0 Jeffrey Hathaway VP FOR ATHLETICS 422231 0 0 0 19953 0 14401 0 85227 0 541812 0 0 0 Catherine Hennessy SVP FOR FINANCE & TREASURER 462359 0 50000 0 43720 0 31206 0 38735 0 626020 0 0 0 Robert W Juckiewicz VP FOR INFO TECH 324035 0 0 0 21021 0 31206 0 32485 0 408747 0 0 0 Alan Kelly VP FOR DEVELOPMENT 363960 0 25000 0 6891 0 31206 0 21627 0 448684 0 0 0 Gail Simmons PROVOST 352457 0 0 0 19541 0 13500 0 21627 0 407125 0 0 0 Herman Berliner Former VP - Current Dean SOB 399353 0 0 0 60591 0 41966 0 36085 0 537995 0 0 0 Eric Lane DEAN, LAW SCHOOL 411584 0 0 0 43792 0 41966 0 33066 0 530408 0 0 0 Joseph Mihalich Mens Basketball Coach 318838 0 0 0 129111 0 13500 0 21627 0 483076 0 0 0 Lawrence Smith Dean, SCHOOL OF MEDICINE 601199 0 0 0 43686 0 31206 0 726 0 676817 0 0 0 Mark Lesko VP for ECONOMIC DEVELOPMENT 319201 0 0 0 18123 0 13500 0 21627 0 372451 0 0 0 Gail Prudenti Dean, School of Law 377500 0 0 0 22861 0 13500 0 708 0 414569 0 0 0 Schedule J, Part II President Rabinowitz has served 43 years at the University, including 19 years as president and before that as dean and as a tenured member of the law school faculty. In 2016, in order to recognize that service and assure retention of his services as president, and to provide appropriate retirement benefits for him and termination of his tenure rights, the University entered into a deferred compensation arrangement with the president. Pursuant to IRS reporting rules, the deferred compensation is required to be reported during the retention period although payments will not be received until a later date. Schedule J, Part II The president is a nonvoting member of the Board of Trustees. Schedule J, Part I, Line 1a Officer Compensation All items identified on Line 1a are included as compensation on both the employee's W2 and on Form 990, Schedule J. A payment for personal services, reimbursing for personal financial services, was provided to an officer and included on the employees W2 and on Form 990, Schedule J. Schedule J, Part I, Line 1b Payment or reimbursement is pursuant to a written agreement. Schedule J, Part II, Items C and D Compensation In accordance with IRS regulations, items reported in columns C and D include University contributions to group retirement and nontaxable group benefits paid by the University. These items include the University's contribution to a qualified 403(b) plan, with contributions varying based on length of service, as limited by IRS regulations; the University-paid portion of group health care benefits (cost vary by employee selected plan); and the University-paid costs of other nontaxable benefits including life and disability insurance, and tuition payments. All group benefits apply equally to all non union employees or as set forth in collective bargaining agreements. Schedule J The University contributes to retiree health and life benefits for former employees, including former officers. A Town of Hempstead LDC Series 2011 112798949 424682CZ3 2011-12-20 75541215 Refinance 1998 Bonds & Renovations false false false B Town of Hempstead LDC Series 2013 112798949 424682ED0 2013-06-20 70200775 Refinance 2003 Bonds & New Facilit false false false C Town of Hempstead LDC Series 2017 112798949 424682HC9 2017-05-17 61034262 Refinance 2007 Bonds & New Facilit false false false A 0 0 75559556 0 1650000 0 771553 0 0 20905181 52232822 0 2014 true false true true B 10635000 0 70223624 0 2750159 0 796915 0 0 27524247 39152303 0 2015 true false true true C 915000 0 61439171 0 1997222 0 811580 0 0 22323998 19436875 16869496 true false false true A false true true true false 0.00000 0.00000 0.00000 false false false true B false true true true true true 0.00000 0.00000 0.00000 false false false true C false true true true false 0.00000 0.00000 0.00000 false false false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false false false true false false 0 false 0 false true A true B true C true Part II, Line 3 Includes investment earnings on bond proceeds through 8/31/18. Part IV, Line 2c Arbitrage Calculation Date A. 2011 Town of Hempstead LDC - August 31, 2018 B. 2013 Town of Hempstead LDC - June 30, 2018 C. 2017 Town of Hempstead LDC - April 30, 2018 Part III, Lines 4,5 and 6 For bonds issued after 2002, the University computes private business use separately for each bond issue, whether refinanced or not, under the multipurpose allocation exception. On Schedule K, for each outstanding bond issue, the private business use is computed and reported, on a combined basis with the refinancings. X 82 0 NA X 0 NA X 0 NA X 28 905690 FMV of stocks X Event Supplies 11 0 NA X Gift Card/Certificate 80 0 NA X Tickets 1 0 NA X Equipment 2 0 NA X Sponsorships 1 0 NA false true false Schedule M, Part I, Line 33 Noncash Gifts See statement for Schedule D, Part III, Line 1a with regards to works of art. Other non-cash contributions other than works of art are used by the University in the normal course of business or used in connection with Development activities. Gifts-in-kind are not assigned a value and not recorded on the University's financial system. Form 990, Part VI, Section A, Line 2 As reflected on statements filed annually with the University, other than listed below, no officer, director, trustee, key employees, highest compensated employees or highest compensated professional or other independent contractors receiving any compensation from the organization is related to any other such entity through family or business relationships. Two Trustees, Robert Rosenthal and Martin Greenberg, have reported an indirect business relationship whereby an entity in which one trustee is an officer is managing an investment portfolio for a trust controlled by another trustee. Trustee Miller disclosed that he has an investment in a fund in which Trustee Guthart is a principal. Form 990, Part IV, Line 9 In the ordinary course of business, the University provides information to students and parents regarding eligibility for Title IV student assistance, including student and parent loans, University scholarship and loan programs, and internal and external payment plan arrangements which are available to finance tuition and fees at Hofstra. In addition, the University is engaged in the collection of tuition and fee balances from students for the current and prior terms, including entering into agreements for the collection and payment of amounts due and owing. Form 990, Part VI, Line 11b Form 990 is prepared by the University, and reviewed by an outside tax consultant. The SVP for Financial Affairs and Treasurer also reviews the return with the President, SVP for Planning and the SVP for Legal Affairs and General Counsel. The final return is submitted to the Audit Committee of the Board of Trustees and the full Board of Trustees prior to signing and filing the return. Form 990, Part VI, Line 15 The Hofstra University Board of Trustees Compensation Committee has oversight of all elements of executive compensation and reports to the entire Board on such matters. Specifically, the Committee reviews the compensation of the President and officers and other key employees. The Committee assesses and approves the reasonableness of the compensation of the President; compensation for other officers are recommended by the President to the Board of Trustees. The University provides the necessary data including peer comparisons compiled from 990 tax return disclosures to the Committee and the Board in order for the review to take place each year. Members of the Committee, as well as any third party providing professional advice to the Committee, must be independent and have no conflicts of interest as to the compensation being reviewed, the officer who is being reviewed, or any products or services being considered. Such review includes a comparison of data as presented on the 990 tax return of comparable institutions, adjusted as appropriate for the New York metropolitan area and updated to the present year. Consideration is given to the breadth and complexity of programs, such as medical and law schools. The review also includes an assessment of the duties and responsibilities of each officer and the overall performance of each. From time to time, the University engages an outside consultant to review the comparables and to assist the Committee in its deliberations. The Committee reviews its recommendations with the Board of Trustees for final approval. The actions of the Committee and Board of Trustees are set forth in the minutes, including the information reviewed in determining comparability and the basis for determining that the compensation is reasonable. Form 990, Part VI, Line 12c The University's bylaws set forth a conflict of interest policy for Trustees prohibiting certain transactions and requiring disclosure of any conflict that might arise. Annually, all Trustees must complete and sign a compliance and disclosure statement which is reviewed and maintained as a matter of record by the University's General Counsel. Disclosures are brought to the attention of the Audit Committee of the Board of Trustees. In addition, there is a conflict of interest policy for all administrative employees and certain union employees prohibiting certain actions and requiring disclosure of any conflict that might arise. Annually, employees must complete and sign a compliance and disclosure statement which is reviewed and maintained as a matter of record by the Office of Human Resources. Any questionable activity is not permitted until the appropriate Vice President has determined that sufficient safeguards exist to fully protect the University's interests and the University's General Counsel has reviewed. Form 990, Part XI, Line 9 Other changes in net assets are made up of the following: Postretirement Changes other than net periodic benefit costs (2,630,887) Reclassifications and other adjustments 1,000 --------------- $(2,629,887) Form 990, Part IV, Line 16 The University provided financial assistance of $7,649,697 to certain international students attending Hofstra. This assistance is included on Schedule I, Part III as Assistance to Individuals in the United States, as the students attended classes within the United States. All amounts provided are credited to the students US based Hofstra accounts. Form 990, Part VI, Line 19 As a private University, governing documents, conflict of interest policy and financial statements are not required to be made available to the public. However, the University Bylaws and the Conflict of Interest Policy are available on the University website. In addition, the University's Form 990 (which includes financial data) is made available upon request. Form 990 , Part VI, Line 4 The Bylaws of the University were last amended by the Board of Trustees on February 28, 2017, with minor updates. Community Legal Assistance Corporation 108 Hofstra University Hempstead NY 11549 112267282 Education NY 501(c)(3) 11(a) na true Hofstra Law Access to Justice Incubator 108 Hosftra University Hempstead NY 11549 463390636 Education NY 501 (C)(3) 11(a) na true Charitable Remainder Unitrust (2) 128 Hofstra University Hempstead NY 11549 TRUST NY NA TRUST Charitable Remainder Annuity Trust (3) 128 Hofstra University Hempstead NY 11549 TRUST NY NA TRUST false false false false false false false false false false false false true true false false false false Community Legal Assistance Corporation N,O See Part VII Hofstra Law Access to Justice Incubator N,O See Part VII Schedule R, Part V, Line 2 Related Tax Exempt Organizations In furtherance of Hofstra University's educational mission, the related entities have been formed pursuant to the Not-For-Profit Corporation Law of New York State. The related entities do not have separate facilities or employees and their activities are included in Hofstra University's financial statements. The related entities each provide educational opportunities for law students and services for the underprivileged under the supervision of attorneys to the extent permitted under the New York Judiciary Law.