2019-07-10T11:59:41-05:00 2018-08-31 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2017-09-01 111788788 New York Institute of Technology % BARBARA HOLAHAN NEWY 5166867915 NORTHERN BLVD GERRY HOUSE Suite 200 OLD WESTBURY NY 11568 BARBARA HOLAHAN CONTROLLER 5166867533 2019-06-26 true Scott Thompsett P00741490 2125990100 209.220.136.124 26377520191915000000 2019-07-10 P 024128E793A9D8FEFAF8504B3BB53C976A1FEC3B 7D14034AF515942D2ABE7F7E27EA16D2649DB046 2017 2019-02-21 02:37:17Z HENRY FOLEY PHD NORTHERN BLVD GERRY HOUSE OLD WESTBURY NY 11568 419755987 false X WWW.NYIT.EDU X 1955 NY PROVIDE CAREER-ORIENTED PROFESSIONAL EDUCATION; GIVE ALL QUALIFIED STUDENTS ACCESS TO OPPORTUNITY; SUPPORT APPLICATIONS-ORIENTED RESEARCH THAT BENEFITS THE LARGER WORLD. 18 18 3189 5 4768869 -196608 5038958 7335115 291961011 304239598 2048212 8104071 10721296 7501606 309769477 327180390 47885231 53689219 0 0 154891085 153169841 38400 0 2198068 107875443 106932462 310690159 313791522 -920682 13388868 326547817 331766897 176861956 180577642 149685861 151189255 X NEW YORK INSTITUTE OF TECHNOLOGY (NYIT) OFFERS 90 DEGREE PROGRAMS, INCLUDING UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES, IN MORE THAN 50 FIELDS OF STUDY, INCLUDING ARCHITECTURE AND DESIGN; ARTS AND SCIENCES; EDUCATION; ENGINEERING AND COMPUTING SCIENCES; HEALTH PROFESSIONS; MANAGEMENT; AND MEDICINE. A NON-PROFIT, INDEPENDENT, PRIVATE, AND NONSECTARIAN INSTITUTION OF HIGHER EDUCATION, NYIT HAS MORE THAN 10,000 STUDENTS WORLDWIDE. SINCE 1955, NYIT HAS PURSUED ITS MISSION TO: -PROVIDE CAREER-ORIENTED PROFESSIONAL EDUCATION -GIVE ALL QUALIFIED STUDENTS ACCESS TO OPPORTUNITY -SUPPORT APPLICATIONS-ORIENTED RESEARCH THAT BENEFITS THE LARGER WORLD false false 291125260 53689219 301484193 NYIT PROVIDES UNDERGRADUATE, GRADUATE, AND DOCTORAL INSTRUCTION TO A DIVERSE STUDENT POPULATION APPROXIMATELY 11,000 STUDENTS ATTENDED THE INSTITUTION LAST YEAR AND 2,571 GRADUATED. Approximately 11,000 STUDENTS BECOME ENGAGED, TECHNOLOGICALLY SAVVY PHYSICIANS, ARCHITECTS, SCIENTISTS, ENGINEERS, BUSINESS LEADERS, DIGITAL ARTISTS, HEALTH CARE PROFESSIONALS, AND MORE. WITH CAMPUSES IN NORTH AMERICA, CHINA, AND THE MIDDLE EAST AS WELL AS ONLINE, NYIT'S STUDENT AND FACULTY GLOBAL EXCHANGE PROGRAMS, UNIQUE EXPERIENTIAL LEARNING PROGRAMS, AND NUMEROUS EXTRA- AND CO-CURRICULAR OPPORTUNITIES COMBINE TO CREATE A UNIQUE, 21ST-CENTURY LEARNING EXPERIENCE. THE INSTITUTE OFFERS THE FOLLOWING SCHOOLS AND COLLEGES: COLLEGE OF ARTS AND SCIENCES COLLEGE OF OSTEOPATHIC MEDICINE SCHOOL OF ARCHITECTURE AND DESIGN SCHOOL OF ENGINEERING AND COMPUTING SCIENCES SCHOOL OF HEALTH PROFESSIONS SCHOOL OF INTERDISCIPLINARY STUDIES & EDUCATION SCHOOL OF MANAGEMENT THE INSTITUTE OFFERS THE FOLLOWING DEGREES: ASSOCIATE IN APPLIED SCIENCE BACHELOR OF ARCHITECTURE BACHELOR OF ARTS BACHELOR OF FINE ARTS BACHELOR OF PROFESSIONAL STUDIES BACHELOR OF SCIENCE MASTER OF ARTS MASTER OF ARTS IN TEACHING MASTER OF BUSINESS ADMINISTRATION MASTER OF FINE ARTS MASTER OF SCIENCE DOCTOR OF PHYSICAL THERAPY DOCTOR OF OSTEOPATHIC MEDICINE Programmatic Revenues represent tuition and fees, room and board, the vocational independence program, ancillary educational services, and other educational Programs (reported on Line 11(d) of Part VIII of the 990). 6949513 0 2830055 NYIT'S ACADEMIC HEALTH CARE CENTERS OFFER HEALTH AND MEDICAL SERVICES TO STUDENTS, FACULTY, STAFF, AND COMMUNITY MEMBERS. THE CENTERS ARE STAFFED BY PHYSICIANS FROM NYIT'S COLLEGE OF OSTEOPATHIC MEDICINE -- ONE OF THE NATION'S MOST PRESTIGIOUS OSTEOPATHIC MEDICAL SCHOOLS -- AS WELL AS MEDICAL STUDENTS WHO ARE PREPARING TO ENTER VARIOUS HEALTH PROFESSIONS. THESE PRIMARY CARE CENTERS ARE OPERATED IN OLD WESTBURY AND CENTRAL ISLIP AND ARE STAFFED BY FACULTY FROM THE DEPARTMENTS OF FAMILY PRACTICE, CLINICAL SPECIALTIES, OSTEOPATHIC MANIPULATIVE MEDICINE, AS WELL AS PHYSICAL, OCCUPATIONAL, SPEECH THERAPISTS AND EXERCISE PHYSIOLOGISTS. THE CLINICS ARE AS FOLLOWS: A. W. KENNETH RILAND ACADEMIC HEALTH CARE CENTER: THIS PRIMARY CARE CLINIC SERVES THE OLD WESTBURY, N.Y., CAMPUS AND COMMUNITY. B. CENTRAL ISLIP FAMILY HEALTH CARE CENTER THIS 7,000-SQUARE-FOOT FACILITY SERVES THE CENTRAL ISLIP, N.Y., COMMUNITY USING AN ADVANCED MEDICAL RECORDS DATABASE AND BOARD-CERTIFIED PHYSICIANS UTILIZING OSTEOPATHIC MANIPULATIVE MEDICINE TO TREAT A WIDE RANGE OF AILMENTS. THESE CLINICS OFFER A WIDE VARIETY OF SERVICES, INCLUDING: ACUPUNCTURE, BREAST HEALTH, CLINICAL PSYCHOLOGY, FAMILY MEDICINE, GENERAL INTERNAL MEDICINE, GENETIC COUNSELING, OCCUPATIONAL THERAPY, OSTEOPATHIC MANIPULATIVE MEDICINE, PARKINSONS DISEASE TREATMENT, PEDIATRICS, PHYSICAL THERAPY, SPEECH PATHOLOGY AND TAI CHI. C. ADELE SMITHERS PARKINSONS DISEASE TREATMENT CENTER - THIS CENTER IS DEDICATED TO PARKINSONS DISEASE TREATMENT, COMMUNITY AWARENESS, RESEARCH, AND ENSURING THAT PATIENTS MAINTAIN THE BEST QUALITY OF LIFE. D. NYIT CENTER FOR SPORTS MEDICINE - THIS CENTER OFFERS INJURY EVALUATIONS, CARDIOPULMONARY EXERCISE TESTING, DIETARY AND NUTRITIONAL GUIDANCE, AND OTHER SPORTS-RELATED TREATMENT. 298074773 true true false true false false true false false true true true false false true true false true true true true false false false true false false true true true false false false false false false false false false false false false true true false false false true X 174 0 true 3189 true true true true EG CA BA AE false false false true true false false false false X 18 18 false false true false false false false true true false false true true true true true true true true false X BARBARA HOLAHAN 5166867555 NORTHERN BLVD GERRY HOUSE RM 200 OLD WESTBURY NY 11568 X HENRY FOLEY PRESIDENT (non-voting) 60.0 0.0 X X 501454 0 26150 KEVIN D SILVA CHAIRPERSON 5.0 0.0 X X 0 0 0 PETER J ROMANO VICE CHAIR 5.0 0.0 X X 0 0 0 MICHAEL J MERLO VICE CHAIR 5.0 0.0 X X 0 0 0 CATHERINE ALLEN TRUSTEE (as of 05/18) 5.0 0.0 X 0 0 0 ERNIE ANASTOS TRUSTEE 5.0 0.0 X 0 0 0 RICHARD A CODY TRUSTEE 5.0 0.0 X 0 0 0 PHILIP FASANO TRUSTEE 5.0 0.0 X 0 0 0 PETER FERENTINOS TRUSTEE 5.0 0.0 X 0 0 0 ITZHAK FISHER TRUSTEE 5.0 0.0 X 0 0 0 SHARON GREENBERGER TRUSTEE 5.0 0.0 X 0 0 0 ALAN C GUARINO TRUSTEE 5.0 0.0 X 0 0 0 HENRY IERVOLINO TRUSTEE (as of 05/18) 5.0 0.0 X 0 0 0 TED MOUDIS TRUSTEE 5.0 0.0 X 0 0 0 MONTE N REDMAN TRUSTEE 5.0 0.0 X 0 0 0 ROGER SAWHNEY TRUSTEE 5.0 0.0 X 0 0 0 DEBORAH VERDERAME MARCIANO TRUSTEE 5.0 0.0 X 0 0 0 CAROLINE WATTEEUW TRUSTEE 5.0 0.0 X 0 0 0 ROBERT A WILD ESQ TRUSTEE 5.0 0.0 X 0 0 0 LEONARD AUBREY CFO and TREASURER 40.0 0.0 X 336037 0 47569 CATHERINE FLICKINGER general counsel and secretary 40.0 0.0 X 355586 0 49123 BARBARA J HOLAHAN controller 40.0 0.0 X 211513 0 24000 LOU REINISCH INTER. 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This consultant was paid $90,000 in fiscal year 2018. IN ADDITION, THE INSTITUTE IS A DUES-PAYING MEMBER IN VARIOUS HIGHER Education MEMBERSHIP ORGANIZATIONS (E.G. - NACUBO). A PORTION OF THESE MEMBERSHIP DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES (but has not been quantified for Schedule C purposes). 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USE OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE INSTITUTE'S ENDOWMENT CONSISTS OF INVESTMENTS IN LAND AND 40 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE INSTITUTE'S ENDOWMENT FUNDS ARE USED PRIMARILY TO SUPPORT SCHOLARSHIPS, BUT MAY BE USED TO FUND CAPITAL EXPENDITURES AND OTHER INSTITUTE PROJECTS. FIN 48 (ASC 740) - INCOME TAX SCHEDULE D, PART X, LINE 2 THE COLLEGE FOLLOWS ACCOUNTING STANDARDS CODIFICATION 740-10 WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS SECTION PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXATION BY VIRTUE OF BEING AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NEVERTHELESS, THE COLLEGE MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS WITHIN ITS CONSOLIDATED FINANCIAL STATEMENTS. RECONCILIATION OF REVENUE SCHEDULE D, PART XI, LINE 2D SCHOLARSHIPS AND FELLOWSHIPS (53,601,464) RECONCILIATION OF EXPENSES SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS AND FELLOWSHIPS 53,601,464 true true true true true true true false false false false false false false false true false true EXPLANATION OF NONDISCRIMATORY POLICY PUBLICATION THE NEW YORK INSTITUTE OF TECHNOLOGY PUBLISHES ITS STATEMENT OF NON-DISCRIMINATION ON ITS WEBSITE AT HTTP://WWW.NYIT.EDU/ABOUT/STATEMENT_ON_NON_DISCRIMINATION. IN ADDITION, THE INSTITUTES POLICY IS PUBLISHED IN A CATALOG THAT IS MADE AVAILABLE TO ALL STUDENTS ONLINE AND IN ALL PHYSICAL BROCHURES SENT TO STUDENTS. FINALLY, THE INSTITUTE ENSURES THAT THE POLICY IS INCLUDED WITHIN ALL OF ITS ADVERTISING MATERIALS. GOVERNMENT AID THE NEW YORK INSTITUTE OF TECHNOLOGY RECEIVES GOVERNMENTAL FUNDING FROM THE FOLLOWING TWO NEW YORK STATE PROGRAMS: 1. HIGH NEEDS NURSING PROGRAM 2. BUNDY AID 3. Higher Education Opportunity Program THESE PROGRAMS ENABLE THE INSTITUTE TO PROVIDE STUDENT SCHOLARSHIPS AND TO SUPPORT RESEARCH EFFORTS. true Middle East and North Africa 1 21 Program Services Education 4219215 East Asia and the Pacific 2 28 Program Services Education 3371069 North America 1 38 Program Services Education 4058026 Central America and the Caribbean Investments 19406083 4 87 4 87 31054393 31054393 true false true true true true SCHEDULE F, PART IV THE NEW YORK INSTITUTE OF TECHNOLOGY INVESTS DIRECTLY IN VARIOUS ALTERNATIVE INVESTMENTS THAT MAY BE ORGANIZED AS EITHER FOREIGN CORPORATIONS OR FOREIGN PARTNERSHIPS; IT, LIKEWISE, INVESTS IN DOMESTIC LIMITED PARTNERSHIPS THAT MAY, IN TURN, INVEST IN FOREIGN CORPORATIONS OR PARTNERSHIPS. NEVERTHELESS, THE INSTITUTES INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR THE FILING OF FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT THAT THE INSTITUTE IS REQUIRED TO COMPLETE ONE (OR MORE) OF THESE FOREIGN FORMS, IT IS FILED WITH THE INSTITUTES FORM 990-T FILING. golf outing 114825 52525 62300 32263 12990 0 114825 52525 62300 32263 12990 45253 17047 true Penn State University 110 Tech Cntr University Park PA 16802 246000376 170(c)(1) 87755 Research 1 SCHOLARSHIPS 4762 53601464 GRANT MONITORING PROCEDURES SCHEDULE I, PART I, LINE 1 THE GRANTS DEPARTMENT AND THE FINANCIAL AID OFFICE OVERSEE ALL GRANTS, GOVERNMENT LOANS AND SCHOLARSHIP EXPENDITURES. ALL GRANT EXPENSES ARE APPROVED AND REIMBURSED IN ACCORDANCE WITH UNIVERSITY POLICY. AN ANNUAL AUDIT IS CONDUCTED IN ACCORDANCE WITH GOVERNMENTAL REGULATIONS. TO THE EXTENT THE INSTITUTE OFFERS SCHOLARSHIPS TO ITS STUDENTS, THOSE FUNDS MAY ONLY BE USED TO DEFRAY THE COST OF MATRICULATION AND MAY NOT BE SPENT AT THE STUDENT'S DISCRETION. X X X X X true true X X X X X true false false false false false false true false HENRY FOLEY PRESIDENT (non-voting) 406454 0 55000 0 40000 0 12542 0 13608 0 527604 0 0 0 EDWARD GUILIANO thru 117 Professor & (Former President) 697502 0 0 0 12609 0 24000 0 25123 0 759234 0 0 0 LEONARD AUBREY CFO and TREASURER 321564 0 6500 0 7973 0 24000 0 23569 0 383606 0 0 0 CATHERINE FLICKINGER general counsel and secretary 342082 0 7000 0 6504 0 24000 0 25123 0 404709 0 0 0 BARBARA J HOLAHAN controller 203933 0 4080 0 3500 0 24000 0 0 0 235513 0 0 0 IBRAHIM BODUR VP IT AND INFRASTRUCTURE 270565 0 5082 0 27139 0 22652 0 22587 0 348025 0 0 0 RAHMAT SHOURESHI PROVOST (THRU 08/17) 257972 0 72053 0 30626 0 14684 0 14730 0 390065 0 0 0 JERRY BALENTINE vp for med affairs&glbl health 534596 0 10847 0 6504 0 24000 0 30972 0 606919 0 0 0 WOLFGANG GILLIAR DEAN MEDICAL SCHOOL 368232 0 7494 0 0 0 24000 0 25123 0 424849 0 0 0 JESS BORONICO DEAN MANAGEMENT SCHOOL 296631 0 21016 0 0 0 24000 0 26696 0 368343 0 0 0 SHANE SPEIGHTS SITE DEAN NYITCOM 419239 0 7457 0 0 0 18000 0 30972 0 475668 0 0 0 Mark Hampton VICE PRESIDENT 251890 0 23367 0 6504 0 24000 0 20637 0 326398 0 0 0 James Simon DEAN ARTS & SCIENCES SCHOOL 98941 0 0 0 505000 0 19023 0 17013 0 639977 0 0 0 Peter Dane professor & ASSOCIATE DEAN 307266 0 6251 0 0 0 24000 0 19060 0 356577 0 0 0 Nada Assaf-Anid dean 291181 0 5899 0 0 0 8836 0 25123 0 331039 0 0 0 RONALD MAGGIORE FORMER VICE PRESIDENT 92209 0 0 0 7971 0 0 0 0 0 100180 0 0 0 LOU REINISCH INTER. PROVOST/VP (as of 8/17) 216076 0 4000 0 20000 0 19245 0 21998 0 281319 0 0 0 TRAVEL AND HOUSING BENEFITS SCHEDULE J, PART I, LINE 1A NYIT IS A GLOBAL UNIVERSITY WITH CAMPUSES IN NEW YORK (MANHATTAN AND LONG ISLAND), CHINA, CANADA, AND THE MIDDLE EAST, AND, AS SUCH, THE PRESIDENT IS REQUIRED TO ENGAGE IN EXTENSIVE INTERNATIONAL TRAVEL. THE PRESIDENT TRAVELS WITH ABOVE STANDARD ACCOMMODATIONS (E.G., BUSINESS OR FIRST CLASS). THE UNIVERSITY ALSO MAKES A CAR AND DRIVER AVAILABLE TO THE PRESIDENT FOR TRAVEL BETWEEN CAMPUSES. THESE ACCOMMODATIONS ARE USED FOR BUSINESS PURPOSES ONLY AND ARE NOT TREATED AS TAXABLE COMPENSATION. NYIT DOES NOT MAINTAIN PRESIDENTIAL CAMPUS HOUSING. NYIT PROVIDES A HOUSING ALLOWANCE TO THE PRESIDENT TO MAINTAIN A RESIDENCE FOR PERSONAL AND UNIVERSITY FUNCTIONS. OTHER TAXABLE COMPENSATION RECEIVED BY PRESIDENT FOLEY IN CALENDAR YEAR 2017 INCLUDED A $40,000 HOUSING ALLOWANCE. THE PROVOST, LIKEWISE, RECEIVED A HOUSING ALLOWANCE OF $26,560 IN CALENDAR YEAR 2017. SCHEDULE J, PART I, LINE 7 AND PART II, COLUMN (B)(II) THE PRESIDENT'S REPORTABLE COMPENSATION INCLUDES BONUS AND INCENTIVE COMPENSATION EARNED BASED ON MEETING CERTAIN OBJECTIVE PERFORMANCE CRITERIA. THE DECISION TO AWARD THE PRESIDENT WITH A BONUS RESTS WITH THE BOARD OF TRUSTEES AND THAT DECISION IS DOCUMENTED IN BOARD MINUTES. OTHER OFFICERS AND KEY EMPLOYEES REPORTED ON SCHEDULE J, LIKEWISE, RECEIVED A BONUS IN CALENDAR YEAR 2017. AMOUNTS DISCLOSED AS A BONUS INCLUDE A PORTION OF REGULARLY BUDGETED COMPENSATION FOR ALL ADMINISTRATIVE STAFF THAT IS CONSISTENT WITH A CONTRACTUAL PERCENTAGE PAYMENT PROVIDED TO FULL-TIME FACULTY UNDER A COLLECTIVE BARGAINING AGREEMENT. THE ACTUAL AMOUNT DISTRIBUTED TO ADMINISTRATIVE STAFF IS SUBJECT TO SOME ANNUAL DISCRETION AT THE DIRECTION OF THE PRESIDENT AND SENIOR MANAGERS. BYLAW AMENDMENT FORM 990, PART VI, SECTION A, LINE 4 THE INSTITUTE AMENDED ITS BYLAWS IN MARCH 2018, AND AGAIN IN SEPTEMBER 2018 TO EFFECTUATE THE FOLLOWING CHANGES: 1. TO RESTATE ITS MISSION 2. TO CHANGE THE PRESIDENT FROM A NON-VOTING TO A VOTING MEMBER OF THE BOARD. 3. TO CREATE A NEW NOMINATING & GOVERNANCE STANDING COMMITTEE OF THE BOARD 4. TO REVISE THE COMPOSITION OF THE BOARD EXECUTIVE COMITTEE. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11A THE INSTITUTE'S FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH BOTH THE INSTITUTE'S FINANCIAL DEPARTMENT AND ITS MANAGEMENT TEAM. THE 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER, PRESIDENT AND GENERAL COUNSEL PRIOR TO SUBMISSION TO THE FULL BOARD OF TRUSTEES. THE BOARD OF TRUSTEES IS PROVIDED AMPLE TIME TO REVIEW AND COMMENT ON THE 990 BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. CONFLICT OF INTEREST REVIEW FORM 990, PART VI, SECTION B, LINE 12C VICE PRESIDENTS AND CERTAIN OTHER EMPLOYEES, PARTICULARLY EMPLOYEES INVOLVED WITH THE PROCUREMENT OF GOODS AND SERVICES, ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE FORMS TO THE GENERAL COUNSEL, AND TO SUBMIT UPDATED FORMS IN THE EVENT THAT THERE IS ANY CHANGE IN THE TIME PERIOD BETWEEN THE SUBMISSION OF THE ANNUAL FORMS. WITH RESPECT TO ANY DISCLOSED CONFLICTS, THE GENERAL COUNSEL WILL CONSULT, (AS APPROPRIATE), WITH NYIT MANAGEMENT SUCH AS THE PRESIDENT, CHIEF FINANCIAL OFFICER, INTERNAL AUDIT DIRECTOR, AND, IF NECESSARY OR ADVISABLE, THE CHAIR OF THE BOARD OF TRUSTEES AUDIT COMMITTEE. THE GENERAL COUNSEL WILL RECOMMEND TO THE PRESIDENT AND, IF INDICATED, THE CHAIR OF THE AUDIT COMMITTEE, SUCH STEPS AS MAY BE APPROPRIATE TO MANAGE THE CONFLICT OF INTEREST. ANY CONFLICTS OF INTEREST RELATING TO OFFICERS OR KEY EMPLOYEES, WHETHER REPORTED ON THE ANNUAL FORMS OR OTHERWISE, WILL BE REPORTED BY THE GENERAL COUNSEL TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINE 15 NYIT'S BOARD (ALL INDEPENDENT TRUSTEES OTHER THAN THE NYIT PRESIDENT), REVIEWS THE COMPENSATION OF NYIT'S PRESIDENT AT CONTRACT RENEWAL INTERVALS. THE LAST SUCH REVIEW WAS IN 2017, IN CONNECTION WITH THE HIRING OF NYITS NEW PRESIDENT. THE BOARD IS ADVISED BY INDEPENDENT COMPENSATION CONSULTANTS AND REVIEWS COMPENSATION DATA FROM SIMILAR ORGANIZATIONS TO ENSURE THAT NYIT DOES NOT COMPENSATE IN EXCESS OF MARKET NORMS. COMPENSATION OF OTHER KEY EMPLOYEES AND OFFICERS OF THE CORPORATION ARE DETERMINED UPON HIRE BY MARKET REVIEWS CONDUCTED BY THE PRESIDENT AND OTHER SENIOR MANAGERS, WHO MAY CONSULT FURTHER WITH HUMAN RESOURCES AND EXTERNAL CONSULTANTS. ANNUAL INCREASES FOR KEY EMPLOYEES AND OFFICERS ARE BASED ON BUDGET PARAMETERS AND REVIEW BY THE PRESIDENT OR HUMAN RESOURCES. CONTEMPORANEOUS SUBSTANTIATION FOR COMPENSATION LEVELS OF THE PRESIDENT, KEY EMPLOYEES OR OFFICERS WILL BE MAINTAINED BY THE OFFICE OF THE PRESIDENT OR HUMAN RESOURCES. DOCUMENT AVAILABILITY FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE'S FORM 990 IS AVAILABLE ON THE INTERNET AT WWW.GUIDESTAR.ORG. IN ADDITION, THE INSTITUTE MAKES A COPY OF ITS FORM 990 AVAILABLE AT ITS PLACE OF BUSINESS. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S (THE GENERAL COUNSEL) DISCRETION. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 CANCELLATION OF CAPITAL PROJECTS $(1,994,611) CHANGE IN POSTRETIREMENT PROGRAM $(1,266,096) LOSS FROM CLOSURE OF CAMPUS $(5,919,882) ------------ TOTAL OTHER CHANGES: $(9,180,589) ============ NYIT GLOBAL LLC NORTHERN BLVD GERRY HOUSE 200 OLD WESTBURY NY 11568 472303439 INACTIVE NY 0 0 NYIT wheatley advertising inc northern blvd old westbury NY 11568 112359770 dissolved NY nyit c 0 0 1.00000 true false false false false false false false false false false false false true true true false false false false