2018-05-11T17:09:10-05:00 2017-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2016-07-01 132676570 TOURO COLLEGE % STUART LIPPMAN CONTROLLER TOUR 6465656000 500 Seventh Avenue NEW YORK NY 10018 MELVIN NESS Senior VP and CFO 2124630400 2018-05-02 true MARY-EVELYN ANTONETTI P00431862 2127589700 2016 2022-09-23 18:48:47Z MELVIN NESS 500 7TH AVE NEW YORK NY 10018 293210557 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) 21 16 3700 375 -5701 -7301 19730763 13518576 232934830 250060425 9543872 629485 20788232 19966516 282997697 284175002 35947290 33033718 0 0 151124225 152341014 0 0 1422552 95064981 94744122 282136496 280118854 861201 4056148 349657490 353847144 181781979 179110773 167875511 174736371 X THE COLLEGE'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER AND PROFESSIONAL EDUCATION. (SEE SCHEDULE O) false false 245849954 32669818 268620749 ACADEMIC SUPPORT: WITHIN THE TOURO SYSTEM, TOURO COLLEGE PROVIDED EDUCATION, PRIMARILY IN THE NEW YORK CITY METROPOLITAN AREA, TO APPROXIMATELY 13,000 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 (2,000); GRADUATE (2,095); FIRST PROFESSIONAL (497). SEE SCHEDULE O. 245849954 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 X 589 0 true 3700 true true true true GM IS false false false true true false false false false X 21 16 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 6465656000 500 SEVENTH AVENUE NEW YORK NY 10018 X Abraham Biderman Trustee 0.8 0.2 X 0 0 0 Alan Kadish President and CEO 18.0 17.0 X X 707840 0 195680 Allen Fagin Trustee 0.8 0.2 X 0 0 0 Ben Chouake Trustee 0.4 0.6 X 0 0 0 Daniel Lander Trustee & Chancellor 3.0 32.0 X X 58536 247249 101910 David Lichtenstein Trustee 0.7 0.3 X 0 0 0 Mark Hasten Chairman/Trustee 1.0 3.5 X 0 0 0 Howard Friedman Trustee 1.0 0.0 X 0 0 0 Israel Sendrovic Trustee 1.0 0.0 X 0 0 0 Jack Weinreb Trustee 0.8 0.2 X 0 0 0 Lawrence Platt Trustee 0.8 0.2 X 0 0 0 Leah Karfunkel Trustee 0.5 0.5 X 0 0 0 Martin Oliner Trustee 0.5 0.5 X 0 0 0 Menachem Genack Trustee and Faculty 4.0 1.0 X X 28614 49721 243 Solomon Goldfinger Trustee 0.8 0.2 X 0 0 0 Stephen Rosenberg Trustee 0.9 0.1 X 0 0 0 Zvi Ryzman Trustee 0.8 0.2 X 0 0 0 Abraham Gutnicki Trustee 0.8 0.2 X 0 0 0 Shmuel Braun Trustee 0.8 0.2 X 0 0 0 Rabbi Shabsai Wolfe Trustee 0.8 0.2 X 0 0 0 Brian Levinson Trustee 0.8 0.2 X 0 0 0 Matthew Bonilla VP of Student Services 21.0 14.0 X 231605 0 38488 Stanley Boylan VP of Undergraduate Education 34.0 1.0 X 120001 0 64046 Richard Braunstein VP, Deputy General Counsel 23.0 12.0 X 222478 0 29283 Alan Ciner Vice President 35.0 0.0 X 127321 0 58588 Robert Goldschmidt VP of Planning & Assessment 35.0 0.0 X 159878 0 46419 Nadia Graff Vice President 35.0 0.0 X 235543 0 13783 Moshe Krupka Executive VP 18.0 17.0 X 219948 0 145190 Henry Rubin VP, Institutional Advancement 28.0 7.0 X 235528 0 25782 Melvin Ness Senior VP, CFO 25.0 10.0 X 286508 0 32455 Michael Newman Secretary, Sr. VP and Gen Coun 24.0 11.0 X 197720 0 69041 David Raab Executive VP 14.0 21.0 X 32940 290367 26095 Israel Singer VP 35.0 0.0 X 129487 0 8938 Eva Spinelli VP of Community Education 35.0 0.0 X 79353 0 9659 Franklin Steen VP of Technology 29.0 6.0 X 234747 0 31213 Marian Stoltz-Loike VP, Online Education 35.0 0.0 X 173308 0 21307 Jeffrey Rosengarten Senior VP of Oper. & Admin. 29.0 6.0 X 276035 0 2405 Robert Goldberg Former Dean of TouroCom 35.0 0.0 X 401554 0 30944 Louis Primavera Dean, School of Health & Scien 35.0 0.0 X 251679 0 14900 Patricia Salkin Provost Grad and Prof Schools 34.5 0.5 X 293428 0 81469 Arnold Spinner Dean, Grad School of Education 35.0 0.0 X 159725 0 9364 HENRY COHEN Dean, Touro Pharmacy 35.0 0.0 X 283249 0 11283 JAY P GOLDSMITH Dean, Touro Dental School 35.0 0.0 X 253836 0 0 Arthur Prancan Associate Professor 35.0 0.0 X 305819 0 19101 Farkas Edward F Vice Dean, Touro Dental School 35.0 0.0 X 252239 0 23692 Shaw Gary Professor 35.0 0.0 X 232871 0 29300 Kenneth Steier Dean 35.0 0.0 X 374901 0 35366 Conrad Fischer Professor 35.0 0.0 X 222322 0 1530 Lawrence Raful Professor 35.0 0.0 X 161562 0 26288 6950575 587337 1203762 217 true true false Excel Guard Corp 505 Eighth Avenue Suite 1700 NEW YORK NY 10018 SECURITY GUARDS 1918203 ELLUCIAN COMPANY LP 62590 Collections Center Drive CHICAGO IL 60693 COMPUTER SOFTWARE 1228453 KPMG LLP Dept 0511 POB 150511 DALLAS TX 753120511 AUDITING 582963 Securitas Security Services USA Inc PO Box 403412 ATLANTA GA 303843412 SECURITY GUARDS 531512 BEAR CONSTRUCTION 7 516 14TH AVENUE BROOKLYN NY 11228 CONSTRUCTION 447383 34 446319 5378504 7693753 5515290 13518576 Student Tuition/ Fees 611600 247329179 247329179 DORM FEES 611600 2731246 2731246 250060425 234652 -5701 240353 0 0 1011760 1011760 0 1011760 1011760 8795308 8400475 394833 394833 394833 154491 120114 197543 -43052 -43052 0 0 0 463230 437537 25693 25693 Academic Support 900099 17384791 17384791 CAFETERIA INCOME 900099 437484 437484 Other Revenue 900099 1149840 1149840 18972115 284175002 268620749 -5701 2041378 4013562 4013562 28595875 28595875 424281 424281 0 5342325 2160289 2875724 306312 834584 730040 101088 3456 115153406 101099694 13618865 434847 2777127 2380226 379858 17043 20172313 17289326 2759188 123799 8061259 6909159 1102627 49473 0 937479 803497 128229 5753 671218 671218 45078 38635 6166 277 0 216862 185868 29663 1331 7854709 6732129 1074375 48205 5085886 4359021 695652 31213 4709111 4113027 575238 20846 4480036 3839758 612783 27495 0 34791563 29819221 4758823 213519 1703593 1460119 233019 10455 0 221047 189455 30235 1357 359266 359266 0 14575494 12504302 1982252 88940 2683863 2300291 367101 16471 Educational Programs Expense 11416932 11416932 DUES, SUB & MEMBERSHIP 832034 713121 113807 5106 STUDENT ACTIVITES 597052 597052 GRADUATION & SUNDRY 527629 527629 3035270 2647445 371171 16654 280118854 245849954 32846348 1422552 8116857 8960762 0 0 7025828 6610148 1942700 3116627 336955 310394 0 0 9025485 18541420 0 0 5891723 3616759 388562198 143763059 246561820 244799139 14525870 16041263 1566573 2165794 0 0 725000 641667 53938679 49043171 349657490 353847144 26379446 28787227 0 0 22773221 23427143 71977085 67461822 0 0 0 0 59317697 56973076 0 0 1334530 2461505 181781979 179110773 X 157424679 164931900 8264732 7618914 2186100 2185557 167875511 174736371 349657490 353847144 4056148 2966823 -162111 X false true X true true true X 137517581 6985755 38983628 19730763 13518576 216736303 0 0 137517581 6985755 38983628 19730763 13518576 216736303 0 216736303 106171 207428 252933 1076851 1246412 2889795 70951 70133 141084 2381375 1645083 8124269 19936660 18972115 51059502 270826684 1082760736 0.80028 0.84943 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 45078 false false 45078 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 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 15627418 1967484 587690 100645 21182 359163 17701602 0.30170 0.09690 0.60140 false false 42992669 42992669 187009838 56079256 130930582 82058504 40312832 41745672 33696687 19020932 14675755 42804500 28350039 14454461 244799139 DUE FROM/TO AFFILIATES, NET 45321751 ESCROW DEPOSIT MTI BONDS 1466882 SECURITY DEPOSITS 1442464 ARTWORK 462074 OTHER LONG TERM ASSETS 350000 49043171 0 SALE LEASEBACK 389507 OTHER LIABILITIES 596619 REFUNDABLE GOVT. LOAN PROGRAM 1118379 TUITION ESCROW 357000 2461505 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 $1,249,000 INCLUDING APPROXIMATELY $138,000 RELATED TO RELIGIOUS OBJECTS ON LOAN. 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. OTHER ARTWORK IS USED TO BEAUTIFY THE FACILITIES TO ENHANCE STUDENT AND FACULTY ACCEPTANCE OF THEIR SURROUNDINGS. 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, 2017 AND 2016, 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 $5,378,504. 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 Middle East and North Africa 1 19 Program Services EDUCATION 5272361 Europe (Including Iceland and Greenland) 1 24 Grantmaking EDUCATION 363900 Russia and the Newly Independent States 2 0 Program Services EDUCATION 249122 Middle East and North Africa Grantmaking EDUCATION 60381 East Asia and the Pacific Program Services EDUCATION 56529 4 43 4 43 6002293 6002293 Europe (Including Iceland and Greenland) EDUCATION 363900 WIRE 1 FOREIGN SCHOLARSHIPS Middle East and North Africa 72 60381 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 DENTAL DINNER 207755 180155 27600 71550 LAW DINNER 201100 153424 47676 68214 2 191955 112740 79215 57779 600810 446319 154491 197543 197543 -43052 true Yeshivas Ohr Hachaim 500 7TH AVENUE NEW YORK NY 10018 112808947 501(C)(3) 3077000 BOOK RECEIVABLE FORGIVEN RECEIVABLE FORGIVEN Hebrew Theological College (HTC) 7135 North Carpenter Road Skokie IL 60077 362167095 501(c)(3) 1120727 Support Related Organization WESTED 4665 LAMPSON AVENUE LOS ALAMITOS CA 90720 943233542 511(a)(2)(B) 50236 RESEARCH 3 SCHOLARSHIPS 4055 28595875 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 and CEO 707840 0 0 0 0 0 24842 0 170838 0 903520 0 0 0 Daniel Lander Trustee & Chancellor 58536 247249 0 0 0 0 0 2756 0 99154 58536 349159 0 0 Matthew Bonilla VP of Student Services 231605 0 0 0 0 0 12446 0 26042 0 270093 0 0 0 Stanley Boylan VP of Undergraduate Education 120001 0 0 0 0 0 6753 0 57293 0 184047 0 0 0 Richard Braunstein VP, Deputy General Counsel 222478 0 0 0 0 0 11733 0 17550 0 251761 0 0 0 Alan Ciner Vice President 127321 0 0 0 0 0 0 0 58588 0 185909 0 0 0 Robert Goldberg Former Dean of TouroCom 401554 0 0 0 0 0 13250 0 17694 0 432498 0 0 0 Robert Goldschmidt VP of Planning & Assessment 159878 0 0 0 0 0 8503 0 37916 0 206297 0 0 0 Nadia Graff Vice President 235543 0 0 0 0 0 0 0 13783 0 249326 0 0 0 Moshe Krupka Executive VP 219948 0 0 0 0 0 9498 0 135692 0 365138 0 0 0 Henry Rubin VP, Institutional Advancement 235528 0 0 0 0 0 0 0 25782 0 261310 0 0 0 Melvin Ness Senior VP, CFO 286508 0 0 0 0 0 13250 0 19205 0 318963 0 0 0 Michael Newman Secretary, Sr. VP and Gen Coun 197720 0 0 0 0 0 11003 0 58038 0 266761 0 0 0 Louis Primavera Dean, School of Health & Scien 251679 0 0 0 0 0 14900 0 0 0 266579 0 0 0 David Raab Executive VP 32940 290367 0 0 0 0 0 25161 0 934 32940 316462 0 0 Patricia Salkin Provost Grad and Prof Schools 271768 0 0 0 21660 0 13250 0 68219 0 374897 0 0 0 Franklin Steen VP of Technology 234747 0 0 0 0 0 12225 0 18988 0 265960 0 0 0 Marian Stoltz-Loike VP, Online Education 173308 0 0 0 0 0 6981 0 14326 0 194615 0 0 0 Arnold Spinner Dean, Grad School of Education 159725 0 0 0 0 0 7854 0 1510 0 169089 0 0 0 HENRY COHEN Dean, Touro Pharmacy 283249 0 0 0 0 0 0 0 11283 0 294532 0 0 0 JAY P GOLDSMITH Dean, Touro Dental School 253836 0 0 0 0 0 0 0 0 0 253836 0 0 0 Arthur Prancan Associate Professor 305819 0 0 0 0 0 12240 0 6861 0 324920 0 0 0 Farkas Edward F Vice Dean, Touro Dental School 252239 0 0 0 0 0 0 0 23692 0 275931 0 0 0 Shaw Gary Professor 232871 0 0 0 0 0 11750 0 17550 0 262171 0 0 0 Kenneth Steier Dean 374901 0 0 0 0 0 10876 0 24490 0 410267 0 0 0 Conrad Fischer Professor 222322 0 0 0 0 0 0 0 1530 0 223852 0 0 0 Lawrence Raful Professor 161562 0 0 0 0 0 8507 0 17781 0 187850 0 0 0 Jeffrey Rosengarten Senior VP of Oper. & Admin. 276035 0 0 0 0 0 0 0 2405 0 278440 0 0 0 SCHEDULE J, Part I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE THE PROVOST OF THE GRADUATE AND PROFESSIONAL SCHOOLS IS PROVIDED HOUSING AS A TAXABLE BENEFIT. THE VALUE OF THE HOUSING BENEFIT IS 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 COMMITEE OF THE BOARD. BENEFITS PROVIDED TO THE OFFICERS ARE APPROVED BY THE PRESIDENT. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2013A 146000293 2013-12-18 19520000 CAPITAL PROJECT 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 REFUND PRIOR ISSUE (12/6/2011) false false false A 1025940 0 19520000 0 0 0 386587 0 0 19133413 0 0 false false true true B 0 0 11378257 799666 311858 0 227803 0 0 10038930 0 0 false false true true C 2230000 0 41475000 0 0 0 826365 0 0 0 40648635 0 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false 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 A true B true C 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. LAWRENCE RAFUL FORMER KEY EMPLOYEE PURCHASE A RESIDENCE X 200000 200000 false false true OFFICERSKEY EEs VARIOUS POSITIONS PAYROLL ADVANCE X 110394 110394 false true false 310394 ERIC GENACK TRUSTEE'S SON 45295 Faculty Compensation false PHYLLIS LANDER TRUSTEE'S SPOUSE 50097 Administrative Compensation false ESTHER GREENFIELD TRUSTEE'S SISTER 110399 Administrative Compensation false Richard Waxman TRUSTEE'S SISTER'S SPOUSE 141827 Faculty Compensation false Debra Waxman TRUSTEE'S SISTER 67573 Faculty Compensation false Hannah Lander TRUSTEE'S SISTER 89462 Faculty Compensation false Moshe Friedman Trustee's GRANDSON 55360 Administrative Compensation false David Mirsky TRUSTEE'S CHILD'S SPOUSE 82211 Faculty Compensation false William Fischbein TRUSTEE'S SISTER SPOUSE 77581 Faculty Compensation false Esther Boylan OFFICER'S SPOUSE 59697 Faculty Compensation false EDNA DAVIS OFFICER'S SISTER IN LAW 55082 Faculty Compensation false X 3140 SELLING PRICE X 6 685 SELLING PRICE X HOTEL AND FOOD 0 14745 SELLING PRICE X EVENT TICKETS 0 8830 SELLING PRICE X EDUCATIONAL SUPPLIES 0 7890 SELLING PRICE X INTERCOMPANY PAYABLE FORGIVENESS 2 5480000 BOOK VALUE 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 13,000 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 ($5,480,000) AND GRANTS PAID ($3,077,000) 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. CERTAIN GOVERNING POLICIES ARE INCLUDED IN TOURO COLLEGE'S WEBSITE; HOWEVER ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE 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, $110,394 IS INCLUDED IN LOANS AND OTHER RECEIVABLES FROM CURRENT AND FORMER OFFICERS AND KEY EMPLOYEES, AND $3,025,267 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 64265 3239809 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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