2016-01-21T10:23:00-06:00 2015-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2014-07-01 133263493 FIT STUDENT HOUSING CORPORATION % JOHN J JOHNSTON FITS 2122173603 227 WEST 27TH STREET NEW YORK NY 10001 SHERRY BRABHAM TREASURER 2122173603 2016-01-15 true KPMG LLP P00634378 2127589700 2014 2016-04-25 22:37:26Z DR JOYCE F BROWN 227 WEST 27TH STREET NEW YORK NY 10001 35171222 false X WWW.FITNYC.EDU X 1982 NY TO PROVIDE MANAGEMENT SERVICES AND OPERATION OF DORMITORY FACILITIES FOR STUDENTS OF FIT. 16 16 167 0 0 0 250000 0 30780453 34975659 125715 132547 96154 63016 31252322 35171222 0 0 0 0 2197787 2402240 0 0 0 22936961 27066396 25134748 29468636 6117574 5702586 178739189 180203310 151256228 147017763 27482961 33185547 TO OWN AND OPERATE DORMITORY FACILITIES FOR THE FASHION INSTITUTE OF TECHNOLOGY. false false 27381974 35038675 FIT STUDENT HOUSING CORPORATION OPERATES AND MANAGES THE DORMITORY FACILITIES FOR THE FASHION INSTITUTE OF TECHNOLOGY. 27381974 true false false false false false false false false false true false false true true false true false false false false false false false false false false false false true true false true false false false false false false false false false false false false false true false true false true 0 0 167 true false false false false false false false false false false X 16 16 false false false false false false false true true false false true true true true true true false false false NY X JOHN J JOHNSTON 2122173602 227 WEST 27TH STREET NEW YORK NY 10001 X AMSALE ABERRA TRUSTEE 1.0 2.0 X 0 0 0 RICHARD A ANDERMAN TRUSTEE 1.0 2.0 X 0 0 0 JAY H BAKER TRUSTEE 1.0 2.0 X 0 0 0 ROBIN BURNS-MCNEILL VICE CHAIR 1.0 3.0 X X 0 0 0 JUDITH I BYRD TRUSTEE 1.0 2.0 X 0 0 0 EDWIN A GOODMAN TRUSTEE 1.0 2.0 X 0 0 0 YAZ HERNANDEZ TRUSTEE 1.0 2.0 X 0 0 0 JOAN B HORNIG TRUSTEE 1.0 2.0 X 0 0 0 GEORGE S KAUFMAN TRUSTEE 1.0 2.0 X 0 0 0 CHRISTOPHER WALLACE STUDENT TRUSTEE(ENDED 06/2015) 1.0 2.0 X 0 0 0 JAQUI LIVIDINI TRUSTEE 1.0 2.0 X 0 0 0 BEVERLY S MACK TRUSTEE 1.0 2.0 X 0 0 0 ELIZABETH T PEEK CHAIR 1.0 3.0 X X 0 0 0 DEIRDRE QUINN TRUSTEE 1.0 2.0 X 0 0 0 ROBERT SAVAGE TRUSTEE 1.0 2.0 X 0 0 0 SALLY SINGER TRUSTEE 1.0 2.0 X 0 0 0 DR JOYCE F BROWN PRESIDENT 5.0 30.0 X 0 392026 160957 SHERRY BRABHAM TREASURER 5.0 30.0 X 0 251322 44620 STEPHEN TUTTLE SECRETARY 5.0 30.0 X 0 237182 61593 ANN MARIE GRAPPO DIRECTOR RESIDENTIAL LIFE 35.0 0.0 X 128468 0 79555 JOSEPH GASCHEN ASST DIRECTOR RESIDENTIAL LIFE 35.0 0.0 X 106811 0 76275 235279 880530 423000 2 false true false ARAMARK CORP 1101 Market Street PHILADELPHIA PA 19107 FOOD SERVICES 2963058 JPR MECHANICAL INC 255 MAIN STREET NEW ROCHELLE NY 10801 CABLE SERVICES 1876734 AMERICAN BUILDING MAINTENANCE 551 FIFTH AVENYE SUITE 300 NEW YORK NY 10176 JANITORIAL SERVICE 1443363 ANDREWS INTERNATIONAL INC 475 PARK AVE SOUTH 12TH FLOOR NEW YORK NY 10016 SECURITY SERVICES 736151 VANDIS INC 1 ALBERTSON AVE ALBERTSON NY 11507 ARCHITECTURE/CONSUL 463170 10 0 STUDENT RENTALS & FEES 721000 30859376 30859376 MEAL PLAN INCOME 721000 2843066 2843066 FIT RENTALS 721000 971093 971093 FOOD SERVICE REVENUE 900099 222928 222928 LAUNDRY INCOME 721000 79196 79196 34975659 132547 0 132547 0 0 0 0 0 0 0 0 0 DORM DAMAGE FEES 812300 18802 18802 OTHER INCOME 900099 44214 44214 63016 35171222 35038675 0 132547 0 0 0 0 150028 150028 0 1740839 1740839 99806 99806 308009 308009 103558 90215 13343 650830 650830 0 33550 33550 0 0 0 788828 788828 16129 16129 387204 304295 82909 279559 279559 0 11145959 11145959 0 0 55017 55017 0 0 6290886 6290886 350026 350026 CONTRACT LABOR 2514836 2514836 FOOD CONTRACT 2889502 2889502 SECURITY 1663051 1663051 COPYRIGHT/LICENSE FEES 894 894 125 125 29468636 27381974 2086662 0 22050900 24487762 0 0 0 0 8793 25547 0 0 0 0 0 0 0 0 71347 247366 204862690 73792597 131912704 131070093 0 0 0 0 0 0 0 0 24695445 24372542 178739189 180203310 3980595 4539453 0 0 1411292 1365933 132905439 128850781 0 0 0 0 0 0 0 0 12958902 12261596 151256228 147017763 X 21067027 18855288 6415934 14330259 0 0 27482961 33185547 178739189 180203310 5702586 X false true X true false X 250000 250000 250000 250000 0 1000000 22807975 25618566 26425879 30528939 35038675 140420034 0 0 0 23057975 25868566 26675879 30778939 35038675 141420034 0 0 0 141420034 175928 166181 136490 125715 132547 736861 0 175928 166181 136490 125715 132547 736861 0 208912 218533 215842 0 0 643287 23442815 26253280 27028211 30904654 35171222 142800182 0.99033 0.98512 0.00516 0.00588 X 12408700 12408700 158493598 41359292 117134306 23816540 22968449 848091 10130252 9451256 678996 13600 13600 0 131070093 CAPITALIZED BOND ISSUANCE COST 636048 HELD BY BOND TRUSTEE (DASNY) 16646715 DEFERRED AMOUNT ON REFUNDING 7089779 24372542 0 AFFILIATE LOAN PAYABLE (FIT) 9010483 BOND INTEREST PAYABLE 3251113 12261596 35171222 35171222 35171222 29468636 29468636 29468636 X true false false false false false false false false false DR JOYCE F BROWN PRESIDENT 0 363426 0 0 0 28600 0 57271 0 103686 0 552983 0 0 SHERRY BRABHAM TREASURER 0 251322 0 0 0 0 0 22534 0 22086 0 295942 0 0 STEPHEN TUTTLE SECRETARY 0 237182 0 0 0 0 0 39507 0 22086 0 298775 0 0 ANN MARIE GRAPPO DIRECTOR RESIDENTIAL LIFE 128468 0 0 0 0 0 18837 0 60718 0 208023 0 0 0 JOSEPH GASCHEN ASST DIRECTOR RESIDENTIAL LIFE 106811 0 0 0 0 0 15557 0 60718 0 183086 0 0 0 SCHEDULE J, PART I, LINE 1 Ms. Grappo and Mr. Gaschen, as management employees of the Student Housing Corporation, are required to live on campus to provide immediate management oversight if and when necessary. Therefore, both employees reside in individual apartments in the dormitories. The value of the housing is included as a nontaxable benefit in Schedule J, part II, column (d). A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 999999999 2004-06-09 146049334 BUILDING CONSTRUCTION true false false B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 999999999 2007-05-31 125674189 REFINANCING false false false A 114935000 0 146049334 3857666 15987426 0 1708802 0 0 116303297 12049809 0 false false true true B 0 0 125674189 12789049 0 114935000 2490551 0 0 0 0 0 false true true true A false false false false false false 0 false false false true B false false false false false false 0 false false false true A false false false true false false 0 false false false 0 false false B false false false true false false 0 false false false 0 false false A false B false SCHEDULE K, PART IV, LINE 2C NO REBATE DUE THE LAST 5 YEAR CALCULATION FOR THE 2004 BONDS WAS 5/31/2014, AND FOR THE 2007 BONDS WAS 6/28/2012. FORM 990 REVIEW FORM 990, PART VI, SECTION B, LINE 11B: THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION AND IN CONSULTATION WITH THE ORGANIZATION'S STAFF. THE DRAFT PREPARED BY THE ACCOUNTING FIRM WAS THEN CAREFULLY REVIEWED BY OFFICERS OF THE ORGANIZATION. A COMPLETE COPY OF THE FINAL VERSION OF FORM 990 WAS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. QUESTIONS WERE REFERRED TO THE CHIEF FINANCIAL OFFICER FOR RESPONSE. CONFLICTS OF INTEREST FORM 990, PART VI, SECTION B, LINE 12C: ON AN ANNUAL BASIS, DIRECTORS REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A DISCLOSURE STATEMENT. THE CONFLICT OF INTEREST POLICY AND DISCLOSURES ARE MONITORED BY GENERAL COUNSEL OF THE ORGANIZATION WITH ASSISTANCE FROM FIT'S CONTROLLER. APPROPRIATE ACTION IS TAKEN BASED ON THE NATURE OF THE CONFLICT, IF ANY ARE IDENTIFIED. DOCUMENT DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION'S DOCUMENTS INCLUDING ITS APPLICATION FOR TAX EXEMPT STATUS, FORM 990, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FIT STUDENT FACULTY CORPORATION 227 WEST 27TH ST NEW YORK NY 10001 131913988 EDU. SERVICES NY 501(C)(3) 9 FIT false FASHION INSTITUTE OF TECHNOLOGY 227 WEST 27TH ST NEW YORK NY 10001 132556338 EDUCATION NY N/A NA false false false false false true false false false false false false true false false true false false false FASHION INSTITUTE OF TECHNOLOGY E 9010483 ACCRUAL FASHION INSTITUTE OF TECHNOLOGY M 650830 ACCRUAL FASHION INSTITUTE OF TECHNOLOGY P 339276 ACCRUAL