2016-07-12T10:03:42-05:00 2015-08-31 KPMG LLP 345 Park Avenue New York NY 101540102 990 2014-09-01 111633516 LONG ISLAND UNIVERSITY % MARK SCHMOTZER LONG 5162992535 700 Northern Blvd Brookville NY 11548 CHRISTOPHER R FEVOLA VP FOR FINANCE, TREASURER 5162992535 2016-07-11 true KPMG LLP P01249521 2127589700 2014 2016-09-27 15:27:22Z Dr Kimberly Cline 700 Northern Blvd Brookville NY 11548 498426446 false X WWW.LIU.EDU X 1926 NY PROVIDE EXCELLENCE AND ACCESS IN EDUCATION TO THOSE WHO SEEK TO EXPAND THEIR KNOWLEDGE AND PREPARE THEMSELVES FOR MEANINGFUL, EDUCATED LIVES. SEE SCHEDULE O. 32 31 6559 41 -376336 -377586 18257282 17385055 481387526 472637226 2240640 1007521 -233679 -78665 501651769 490951137 104553253 103266443 0 0 244383822 235261441 71946 151752 2417219 111285604 120359192 460294625 459038828 41357144 31912309 593150804 633442455 302144858 308767706 291005946 324674749 X To provide excellence and access in private higher education to people from all backgrounds who seek to expand their knowledge and prepare themselves for meaningful, educated lives and for service to their communities and the world. false false 319324864 103266443 443871450 INSTRUCTION, ACADEMIC SUPPORT, AND INSTITUTIONAL SUPPORT - THE UNIVERSITY OFFERS BOTH CREDIT AND NONCREDIT COURSES FOR ACADEMIC AND VOCATIONAL INSTRUCTION. THE UNIVERSITY OFFERS 538 DEGREE AND CERTIFICATE PROGRAMS TO OVER 21,000 STUDENTS, AND EMPLOYS CLOSE TO 600 FULL-TIME FACULTY OVER SIX CAMPUSES. ACTIVITIES IN THIS CATEGORY ALSO INCLUDE SUPPORT SERVICES SUCH AS LIBRARIES, EDUCATIONAL MEDIA SERVICES, ACADEMIC COMPUTING SUPPORT, ACADEMIC ADMINISTRATION, ETC. THE UNIVERSITY'S LIBRARIES HOUSE APPROXIMATELY 1.9 MILLION PRINT BOOKS AND SHARE OVER 90,000 ONLINE JOURNALS, MORE THAN 200 ONLINE DATABASES AND 170,000 ELECTRONIC BOOKS. 80767727 0 28728896 STUDENT SERVICES AND AUXILIARY ENTERPRISES - REPRESENTS THE ACTIVITIES THAT CONTRIBUTE TO STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE THE CONTEXT OF THE FORMAL INSTRUCTION PROGRAM. ACTIVITIES IN THIS CATEGORY INCLUDE EXPENSES FOR RESIDENCE HALLS, STUDENT ACTIVITIES, CULTURAL EVENTS, STUDENT NEWSPAPERS, INTRAMURAL ATHLETICS, STUDENT ORGANIZATIONS, INTERCOLLEGIATE ATHLETICS, COUNSELING AND CAREER GUIDANCE, STUDENT AID ADMINISTRATION AND STUDENT HEALTH SERVICE. APPROXIMATELY 2,293 STUDENTS RESIDE IN THE DORMS. 5633436 0 36880 RESEARCH AND PUBLIC SERVICE - REPRESENTS ACTIVITIES SPECIFICALLY ORGANIZED TO PRODUCE RESEARCH, WHETHER COMMISSIONED BY AN AGENCY EXTERNAL TO THE INSTITUTION OR SEPARATELY BUDGETED BY AN ORGANIZATIONAL UNIT WITHIN THE INSTITUTION. THIS CATEGORY ALSO INCLUDES ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES BENEFICIAL TO INDIVIDUALS AND GROUPS EXTERNAL TO THE INSTITUTION. THESE ACTIVITIES INCLUDE COMMUNITY SERVICE PROGRAMS. 405726027 true true false true false false false true false true true true false false true true true false true true true false false true true false false false true true true false false false false false false false false true false true false false false false false false false false true 518 0 true 6559 true false false false false false true true false false false false X 32 31 false false false false false false false true true false false true true true true true true true true false NY X MARK SCHMOTZER 5162992535 700 NORTHERN BLVD BROOKVILLE NY 11548 X LINDA E AMPER TRUSTEE 1.0 0.0 X 0 0 0 RAO SUBBA ANUMOLu TRUSTEE 1.0 0.0 X 0 0 0 ROGER L BAHNIK TRUSTEE 1.0 0.0 X 0 0 0 STANLEY F BARSHAY TRUSTEE 3.0 0.0 X 0 0 0 MARK A BOYAR TRUSTEE 1.0 0.0 X 0 0 0 JOHN R BRANSFIELD JR TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL DEVINE TRUSTEE (THRU 1/15) 2.0 0.0 X 0 0 0 MICHAEL N EMMERMAN TRUSTEE 1.0 0.0 X 0 0 0 DANIEL B FISHER TRUSTEE 2.0 0.0 X 0 0 0 PETER W GIBSON TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL P GUTNICK TRUSTEE 4.0 0.0 X 0 0 0 STEVEN S HORNSTEIN TRUSTEE 1.0 0.0 X 0 0 0 ALFRED R KAHN TRUSTEE 3.0 0.0 X 0 0 0 ERIC KRASNOFF CHAIR 5.0 0.0 X 0 0 0 STEVEN J KUMBLE SECRETARY 4.0 0.0 X 0 0 0 LEON LACHMAN CHANCELLOR-COL OF PHARM 3.0 0.0 X 0 0 0 ABRAHAM LACKMAN TRUSTEE (BEG 10/14) 3.0 0.0 X 0 0 0 BRIAN K LAND TRUSTEE 2.0 0.0 X 0 0 0 SARABETH LEVINE TRUSTEE (BEG 10/14) 1.0 0.0 X 0 0 0 HOWARD M LORBER TRUSTEE 1.0 0.0 X 0 0 0 FRANK LOURENSO TRUSTEE (BEG 1/15) 1.0 0.0 X 0 0 0 MICHAEL MELNICKE TRUSTEE 1.0 0.0 X 0 0 0 THERESA MALL MULLARKEY CHANCELLOR-POST (THRU 6/15) 3.0 0.0 X 0 0 0 SALVATORE NARO TRUSTEE 1.0 0.0 X 0 0 0 RICHARD P NESPOLA TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM R NUTI TRUSTEE 1.0 0.0 X 0 0 0 JOEL PRESS TRUSTEE (THRU 10/14) 1.0 0.0 X 0 0 0 Thomas Pulling trustee (Thru 10/14) 1.0 0.0 X 0 0 0 AUDREY SCHEIN TRUSTEE (BEG 10/14) 1.0 0.0 X 0 0 0 CHERIE D SEROTA TRUSTEE (BEG 10/14) 1.0 0.0 X 0 0 0 DANIEL SIMMONS TRUSTEE 1.0 0.0 X 0 0 0 HARVEY 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SVCS 10763612 TJN CORPORATION 69-43 76TH STREET MIDDLE VILLAGE NY 11379 GENERAL CONTRACTOR 1710365 THE LAND TEK GROUP INC 235 COUNTY LINE ROAD AMITYVILLE NY 11701 ATHLETIC FIELD CONST 1488008 ORACLE CORPORATION 500 ORACLE PARKWAY REDWOOD SHORES CA 94065 ERP COUNSULT/SUPPORT 1115653 SOUTHERN BLEACHER COMPANY INC 801 FIFTH STREET GRAHAM TX 76450 BLEACHER INSTALL/ENG 1097219 48 1146807 11676215 4562033 496520 17385055 Tuition & Fees 900099 432637558 432637558 SALES AND SVCS OF AUXILIARY ENTERPRISES 900099 28728896 28728896 Concert Theatre 900099 3928618 3928618 COMMISSIONS 900099 1278117 1278117 University Fees 900099 705475 705475 5358562 5358562 472637226 2029633 -376336 2405969 88423 88423 0 303875 344396 -40521 0 -40521 -40521 5340955 6451490 -1110535 -1110535 -1110535 641279 1146807 679423 -38144 -38144 0 0 0 490951137 472637226 -376336 1305192 0 103266443 103266443 0 0 2176981 442788 1734193 425342 425342 170412104 153730986 15296873 1384245 11238744 10124548 1022754 91442 39121806 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 46250 false true 4063 50313 false LOBBYING EXPENSES FORM 990, SCHEDULE C, PART II-B, LINE 1G GIVEN THE IMPACT OF HIGHER EDUCATION FUNDING AND REGULATIONS, IT IS VITAL FOR LONG ISLAND UNIVERSITY TO BE WELL-REPRESENTED IN WASHINGTON, DC, OUR STATE CAPITAL IN ALBANY, NY AND IN CITY HALL. AS PART OF A LARGER COMMUNITY OF HIGHER EDUCATION INSTITUTIONS, LONG ISLAND UNIVERSITY ACTIVELY ADVOCATES FOR INCREASED STUDENT FINANCIAL AID, RESEARCH FUNDING, ECONOMIC DEVELOPMENT AID AND FOR SPECIFIC PROGRAMS THAT ASSIST OUR NEIGHBORING COMMUNITIES. WE OCCASIONALLY ENGAGE THE EXPERTISE OF OUR INTERNAL STAKEHOLDERS - OUR WORLD-CLASS FACULTY, PROFESSIONAL ADMINISTRATORS, UNIVERSITY OFFICERS AND THE LEADERSHIP OF OUR TRUSTEES, TO ASSIST WITH OUR ADVOCACY EFFORTS. FORM 990, SCHEDULE C, PART II-B, LINE 1I LONG ISLAND UNIVERSITY PAYS MEMBERSHIP DUES TO THE COMMISSION ON INDEPENDENT COLLEGES AND UNIVERSITIES. $4,063 IS THE PORTION OF DUES PAID TO CICU ATTRIBUTABLE TO LOBBYING. X X false 107103782 11030193 4956251 998677 2552157 119539392 94265599 2797840 12872023 367189 2464491 107103782 82442726 6828806 7999612 330258 2675287 94265599 81103213 2897826 1830794 415244 2973863 82442726 77008980 3697897 3751862 333358 3022168 81103213 0.42657 0.48555 0.08788 false false 16084041 16084041 459382464 207437537 251944927 19165693 7993419 11172274 48510333 41005528 7504805 14512851 14512851 301218898 MULTI-STRATEGY INVESTMENTS 112835108 F REAL ESTATE 1996037 F HEDGE FUNDS 110645 F 114941790 0 POST RETIREMENT BENEFIT LIABILITY 46206711 EARLY RETIREMENT PLAN 5253768 AGENCY FUNDS 903602 ANNUITY PAYABLE 1170312 EST SELF-INSURANCE LIABILITY 6225566 ASSET RETIREMENT OBLIGATION 6879000 INTEREST RATE SWAP 18589529 85228488 X 389612396 5822770 -107332719 -101509949 491122345 852611 -1023819 -171208 490951137 355943593 1023819 1023819 354919774 852611 103266443 104119054 459038828 COLLECTION OF ART AND HISTORICAL TREASURES FORM 990, SCHEDULE D, PART III, line 4 LONG ISLAND UNIVERSITY HAS COLLECTIONS OF ART, HISTORICAL TREASURES, AND OTHER SIMILAR ASSETS HELD FOR RESEARCH, EDUCATION, AND PUBLIC EXHIBITION IN FURTHERANCE OF PUBLIC SERVICE WHICH ARE MAINTAINED UNDER CURATORIAL CARE. IN ACCORDANCE WITH ASC 958, THE UNIVERSITY DOES NOT CAPITALIZE ITS COLLECTIONS. INTENDED USE OF ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 ENDOWMENT FUND REVENUE IS USED FOR GENERAL OPERATING SUPPORT UNLESS IT IS RESTRICTED BY THE DONOR FOR A SPECIFIC PURPOSE. FORM 990 SCHEDULE D, PART V, LINE 1B, COLUMN (A) Contributions on Part V, Line 1B, Column (A) include transfers to quasi endowment totaling $10,046,879. UNCERTAIN TAX POSITIONS FORM 990, SCHEDULE D, PART X, LINE 2 THE UNIVERSITY HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE AND IS CONSIDERED EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR ANY UNRELATED BUSINESS INCOME ACTIVITIES. NO PROVISION FOR INCOME TAXES HAS BEEN MADE AS THE UNIVERSITY HAS NOT REPORTED ANY TAXABLE UNRELATED BUSINESS INCOME. THE UNIVERSITY EVALUATES, ON AN ANNUAL BASIS, THE EFFECTS OF ANY UNCERTAIN TAX POSITIONS ON ITS FINANCIAL STATEMENTS USING A THRESHOLD OF MORE LIKELY THAN NOT. AS OF AUGUST 31, 2015, and 2014, THE UNIVERSITY HAS NOT IDENTIFIED OR PROVIDED FOR ANY SUCH POSITIONS. RECONCILIATION OF REVENUE PER AUDITED FINANCIALS WITH REVENUE PER RETURN FORM 990, SCHEDULE D, PART XI, LINE 2D CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS............$ (198,291) POSTRETIREMENT CHANGES .................................$ (2,225,617) CHANGE IN FMV OF INTEREST RATE SWAP AGREEMENTS .........$ (1,692,526) OTHER NONOPERATING CHANGE IN NET ASSETS.................$ 50,158 RECLASS OF SCHOLARSHIP EXPENSES ....................... $(103,266,443) --------------- $(107,332,719) RECONCILIATION OF REVENUE PER AUDITED FINANCIALS WITH REVENUE PER RETURN FORM 990, SCHEDULE D, PART XI, LINE 4B SPECIAL EVENT EXPENSES .............................$ (679,423) RECLASS OF RENTAL EXPENSES .............................$ (344,396) ------------- $ (1,023,819) RECONCILIATION OF EXPENSES PER AUDITED FINANCIALS WITH EXPENSES PER RETURN FORM 990, SCHEDULE D, PART XII, LINE 2D RECLASS OF SPECIAL EVENT EXPENSES .....................$ 679,423 RECLASS OF RENTAL EXPENSES ............................$ 344,396 --------------- $ 1,023,819 RECONCILIATION OF EXPENSES PER AUDITED FINANCIALS WITH EXPENSES PER RETURN FORM 990, SCHEDULE D, PART XII, LINE 4B RECLASS OF SCHOLARSHIP EXPENSES.........................$ 103,266,443 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATION POLICY FORM 990, SCHEDULE E THE FOLLOWING POLICY APPEARS ON LONG ISLAND UNIVERSITY'S WEBSITE AND UNIVERSITY BULLETINS: LONG ISLAND UNIVERSITY IS COMMITTED TO MAINTAINING A LEARNING AND WORKING ENVIRONMENT THAT IS FREE OF BIAS, PREJUDICE, DISCRIMINATION AND HARASSMENT AND AN ENVIRONMENT THAT SUPPORTS, NURTURES, AND REWARDS CAREER AND EDUCATIONAL ADVANCEMENT PURELY ON THE BASIS OF ABILITY AND PERFORMANCE. DISCRIMINATION OR HARASSMENT BASED UPON RACE, COLOR, RELIGION, SEXUAL ORIENTATION, GENDER AND /OR GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, NATIONAL ORIGIN, ETHNICITY, CITIZENSHIP STATUS, VETERAN OR MILITARY STATUS, AGE, DISABILITY OR ANY OTHER LEGALLY PROTECTED BASIS IS PROHIBITED BY LAW AND UNDERMINES THE CHARACTER AND PURPOSE OF THE UNIVERSITY. SUCH DISCRIMINATION OR HARASSMENT IS ILLEGAL, AGAINST UNIVERSITY POLICY, AND WILL NOT BE TOLERATED. THIS POLICY COVERS ALL MEMBERS OF THE UNIVERSITY COMMUNITY-STUDENTS, FACULTY AND STAFF-AS WELL AS THOSE WHO INTERACT WITH MEMBERS OF THE UNIVERSITY COMMUNITY SUCH AS VENDORS OR VISITORS. THE UNIVERSITY ENCOURAGES EVERYONE TO REPORT ALL INCIDENTS OF DISCRIMINATION OR HARASSMENT, REGARDLESS OF WHO THE OFFENDER MAY BE. GOVERNMENT GRANTS FORM 990, SCHEDULE E, LINE 6A THE UNIVERSITY RECEIVES GRANTS FROM THE FOLLOWING GOVERNMENT AGENCIES TO SUPPORT ITS OPERATIONS: Federal Aid: United States Department of Education United States Department of Health and Human Services National Science Foundation National Aeronautics and Space Administration NEW YORK STATE AID: NEW YORK STATE HIGHER EDUCATION SERVICES CORPORATION Central America and the Caribbean 1 10 Program Services Academic Instruction 563739 Europe 1 2 Program Services Academic Instruction 130753 East Asia and the Pacific 2 12 Program Services Academic Instruction 620215 Central America and the Caribbean Investments 2508369 4 24 4 24 3823076 3823076 true false true true true true METHOD USED TO ACCOUNT FOR EXPENDITURES FORM 990, SCHEDULE F, PART I EXPENDITURES ON PART I, LINE 3, COLUMN F ARE REPORTED ON AN ACCRUAL BASIS. SCHEDULE F, PART I, LINE 3(3) LIU'S COMPARATIVE RELIGION PROGRAM HAS A PRESENCE IN TAIWAN, INDIA AND THAILAND. EXPENSES ARE ACCOUNTED FOR AT THE PROGRAM LEVEL AND NOT COUNTRY LEVEL; THEREFORE, WHILE CERTAIN EXPENSES MAY BE ATTRIBUTABLE TO INDIA, LIU HAS NOT SEPARATELY IDENTIFIED SOUTH ASIA AS REGION ON PART I, LINE 3 (3). X X X X X X X true LAUTMANMASKANEILLCO SEE PART IV 1730 Rhode Island Avenue NW Washington DC 20036 Consultant false 97752 -97752 HARVEST FRCINC SEE PART IV 82 Colonial Drive Newtown PA 18940 Consultant false 39000 -39000 GIFT PLANNING DEVELOPLLC SEE PART 100 Chestnut Place New Hartford NY 13413 Consultant false 15000 -15000 151752 -151752 LIU Gala 586649 516899 69750 86382 600 26877 Tilles Gala 548264 281982 266282 10708 55649 155800 43902 7 653173 347926 305247 159954 38579 52400 48572 1788086 1146807 641279 257044 94228 208800 119351 679423 -38144 FUNDRAISER ADDRESS FORM 990, SCHEDULE G, PART I, LINE 2B Harvest FRC, Inc. 82 Colonial Drive Newtown, PA 18940 LAUTMAN, MASKA, NEILL, & COMPANY 1730 Rhode Island Avenue NW Washington, DC 20036 GIFT PLANNING DEVELOPMENT,LLC 100 Chestnut Place New Hartford, NY 13413 GROSS RECEIPTS FORM 990, SCHEDULE G, PART I, LINE 2B, COLUMN (IV) GROSS RECEIPTS ARE EARNED FROM THE EFFORTS OF PROFESSIONAL FUNDRAISERS; HOWEVER, RECEIPTS ARE NOT ACCOUNTED FOR ON A FUNDRAISER BY FUNDRAISER BASIS. true SCHOLARSHIPS 9648 103266443 BOOK Tuition Credit GRANT MONITORING FORM 990, SCHEDULE I, PART I, LINE 2 LONG ISLAND UNIVERSITY OFFERS A NUMBER OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS TO QUALIFYING STUDENTS ENROLLED IN BOTH DEGREE AND NON-DEGREE PROGRAMS. EACH GRANT OR OTHER FORMS OF ASSISTANCE HAVE SPECIFIC AWARDING CRITERIA AND INDIVIDUAL RULES FOR SELECTION BASED ON MERIT, NEED, AND/OR PERFORMANCE. THESE REQUIREMENTS ARE PUBLISHED EACH YEAR AND ARE ADMINISTERED BY THE CAMPUS FINANCIAL AID OFFICES WHICH ARE ALSO RESPONSIBLE FOR AWARDING AND POSTING TRANSACTIONS TO INDIVIDUAL STUDENT ACCOUNTS. THE DISBURSAL OF FUNDS IS SEGREGATED AND PERFORMED BY THE CENTRAL FINANCIAL AID OFFICE OF THE UNIVERSITY. IN ADDITION, INTERNAL CONTROLS ARE IN PLACE TO ENSURE AMOUNTS ARE AWARDED ACCURATELY TO STUDENTS WHO PROPERLY MEET AND MAINTAIN ELIGIBILITY CRITERIA. ACCOUNTING TRANSACTIONS ARE ROUTINELY RECONCILED THROUGH THE UNIVERSITY'S ERP SYSTEM AND STUDENT ACCOUNTS ARE CONSISTENTLY MONITORED BY ADMINISTRATIVE STAFF. X true true X X X X false true false false false false false false false Dr KIMBERLY CLINE PRESIDENT 739949 0 0 0 9265 0 178600 0 110280 0 1038094 0 0 0 GALE STEVENS HAYNES COO & UNIVERSITY COUNSEL 359572 0 0 0 6734 0 28600 0 15197 0 410103 0 0 0 JEFFREY KANE VP ACADEMIC AFFAIRS 353028 0 0 0 1809 0 28600 0 26664 0 410101 0 0 0 CHRISTOPHER FEVOLA VP AND CHIEF FINANCIAL OFFICER 346602 0 0 0 0 0 28600 0 38373 0 413575 0 0 0 HARVEY KUSHNER PROF-CRIMINAL JUSTICE 341507 0 0 0 4324 0 6527 0 26782 0 379140 0 0 0 HARRIET MALINOWITZ PROF-ARTS & HUMANITIES 68345 0 0 0 259202 0 6518 0 12056 0 346121 0 0 0 BASHAR BAROUDI VP INFO TECH 295927 0 0 0 0 0 28600 0 38632 0 363159 0 0 0 JACQUELYN NEALON VP ENROLLMENT & CAMPUS LIFE 256485 0 0 0 0 0 28600 0 92268 0 377353 0 0 0 MARK SCHMOTZER ASSOC VP, FINANCE & CONTROLLER 245939 0 0 0 0 0 27218 0 61853 0 335010 0 0 0 DAVID J STEINBERG PRESIDENT (THRU 06/13) 325486 0 0 0 174992 0 28600 0 20395 0 549473 0 0 0 PAUL FORESTELL PROVOST LIU POST 92184 0 0 0 114797 0 10200 0 46352 0 263533 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A AND PART II COMPENSATION DETAILS AND NON-TAXABLE BENEFITS SCHEDULE J, PART II, COLUMN D, INCLUDES NON-TAXABLE HOUSING BENEFIT OF $79,269 FOR DR. KIMBERLY CLINE. DR. KIMBERLY CLINE IS REQUIRED TO RESIDE ON THE UNIVERSITY'S CAMPUS AS A CONDITION OF HER EMPLOYMENT. FORM 990, SCHEDULE J, PART I, LINE 4B COMPENSATION AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN B (III), INCLUDES NON-QUALIFIED RETIREMENT DEFERRED COMPENSATION FOR HARRIET MALINOWITZ IN THE AMOUNT OF $259,202, AND PAUL FORESTeLL IN THE AMOUNT OF $112,998. FORM 990, SCHEDULE J, PART 1, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2014, DR. KIMBERLY CLINE PARTICIPATED IN A IRC SEC. 457(F) PLAN AND RECEIVED A NON-VESTED DEFERRAL IN THE AMOUNT OF $150,000. A DASNY REV BONDS - SERIES 2006A (SUB A-1) 146000293 649905PQ3 2010-09-23 30000000 REFUND PRIOR BONDS ISSUED FOR CONS false false false B DASNY REV BONDS - SERIES 2006A (SUB A-2) 146000293 649905PQ3 2009-09-01 35395000 REFUND PRIOR BONDS ISSUED FOR CONS false false false C DASNY REV BONDS - SERIES 2012 146000293 6499062J2 2012-10-17 62736138 REFUND VARIOUS BONDS OF ISSUER false false false A 1425000 0 30000000 0 0 0 0 0 0 0 30000000 0 true false true true B 1745000 0 35395000 0 0 0 0 0 0 0 35395000 0 true false true true C 6015000 0 62762142 5122682 0 0 1251649 0 0 0 56398250 0 true true true true A false true true true false 0.00100 0.00100 false false true B false true true true false 0.00100 0.00100 false false true C false true true true false 0.00100 0.00100 false false true A false false false true true false 0 false 0 false true B false false false true true false 0 false 0 false true C false true false false false false 0 false 0 false true A true B true C true FORM 990, SCHEDULE K ROW A: PART I, (F): BONDS REissued a portion of THE ISSUER'S INSURED REVENUE BONDS, SERIES 2006A ISSUED ON NOVEMBER 9, 2006. Part II, Line 13: Since proceeds of the bonds were used for current refunding purposes, the year of substantial completion is not applicable. PART III, LINE 2: THE BORROWER HAS ENTERED INTO VARIOUS ARRANGEMENTS WHICH ARE RELATED TO ITS EXEMPT PURPOSES AND WHICH SATISFY THE 50-DAY RULE REQUIREMENTS OF SECTION 1.141-3(D)(3)(II) OF THE TREASURY REGULATIONS. Part III, Line 7: As provided in Treasury Regulation Section 1.141-4(c)(2)(i)(B), the amount of private payments taken into account under the private payment test may not exceed the amount of private business use and/or unrelated trade or business use. Accordingly, the amount of private payments for the reporting period does not exceed the amount stated in Part III, line 6. The organization has not undertaken an analysis of the private security test with respect to the bonds, as the level of private business use and/or unrelated trade or business reported in Part III, line 6, is not in excess of amounts permitted under Section 145 of the Code. Part IV, Line 2(b): NO REBATE IS DUE FOR THIS BOND; THE DATE OF THE REBATE COMPUTATION IS DECEMBER 14, 2015. ROW B: PART I, (F): BONDS REissuED a portion of THE ISSUER'S INSURED REVENUE BONDS, SERIES 2006A ISSUED ON NOVEMBER 9, 2006. Part II, Line 13: Since proceeds of the bonds were used for current refunding purposes, the year of substantial completion is not applicable. PART III, LINE 2: THE BORROWER HAS ENTERED INTO VARIOUS ARRANGEMENTS WHICH ARE RELATED TO ITS EXEMPT PURPOSES AND WHICH SATISFY THE 50-DAY RULE REQUIREMENTS OF SECTION 1.141-3(D)(3)(II) OF THE TREASURY REGULATIONS. Part III, Line 7: As provided in Treasury Regulation Section 1.141-4(c)(2)(i)(B), the amount of private payments taken into account under the private payment test may not exceed the amount of private business use and/or unrelated trade or business use. Accordingly, the amount of private payments for the reporting period does not exceed the amount stated in Part III, line 6. The organization has not undertaken an analysis of the private security test with respect to the bonds, as the level of private business use and/or unrelated trade or business reported in Part III, line 6, is not in excess of amounts permitted under Section 145 of the Code. Part IV, Line 2(b): NO REBATE IS DUE FOR THIS BOND; THE DATE OF THE REBATE COMPUTATION IS OCTOBER 23, 2014. ROW C: Difference between Part I(e) and Part II, line 3 is investment earnings. Part I (f): The bonds advanced refunded the issuer's Series 1999 Bonds (issued on june 10, 1999), currently refunded the issuer's series 2003a bonds (issued on january 23, 2003) and Series 2003B Bonds (issued on August 31, 2003), and funded the deposit to the Debt service reservce fund. Part II, Line 13: Since proceeds of the bonds were used for refunding purposes, the year of substantial completion is not applicable. Part III, Line 7: As provided in Treasury Regulation Section 1.141-4(c)(2)(i)(B), the amount of private payments taken into account under the private payment test may not exceed the amount of private business use and/or unrelated trade or business use. Accordingly, the amount of private payments for the reporting period does not exceed the amount stated in Part III, line 6. The organization has not undertaken an analysis of the private security test with respect to the bonds, as the level of private business use and/or unrelated trade or business reported in Part III, line 6, is not in excess of amounts permitted under Section 145 of the Code. 145 of the Code. Part IV, Line 2(b): The current refunding portion of the bonds has met the 6-month exCEPTION to rebate. PIA STEVENS HAYNES FAMILY MEMBER - SEE PT V 130285 EMPLOYEE OF UNIVERSITY false BRAD COHEN FAMILY MEMBER - SEE PT V 233495 EMPLOYEE OF UNIVERSITY false MICHAEL FEVOLA FAMILY MEMBER - SEE PT V 61562 EMPLOYEE OF UNIVERSITY false BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS FORM 990, SCHEDULE L, PART IV GALE STEVENS HAYNES GALE STEVENS HAYNES IS AN OFFICER OF THE UNIVERSITY AND HAS THREE FAMILY MEMBERS WHO ARE EMPLOYEES OF THE UNIVERSITY: *PIA STEVENS HAYNES - DAUGHTER *BRAD COHEN - SON-IN-LAW. CHRISTOPHER FEVOLA CHRISTOPHER FEVOLA IS AN OFFICER OF THE UNIVERSITY AND HIS BROTHER, MICHAEL FEVOLA, IS AN EMPLOYEE OF THE UNIVERSITY. X 15 496520 FMV false true false NUMBER OF CONTRIBUTIONS SCHEDULE M, PART I, COLUMN (B) THE AMOUNT IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 BRIEF DESCRIPTION OF ORGANIZATION'S MISSION To provide excellence and access in private higher education to people from all backgrounds who seek to expand their knowledge and prepare themselves for meaningful, educated lives and for service to their communities and the world. FORM 990, PART III, LINE 1 MISSION: ACCESS AND EXCELLENCE LONG ISLAND UNIVERSITY WAS FOUNDED ON THE PRINCIPLE OF EDUCATING AND EMPOWERING MEN AND WOMEN FROM ALL WALKS OF LIFE. THROUGH OUR MISSION OF ACCESS AND EXCELLENCE, THE LIU COMMUNITY REMAINS COMMITTED, ABOVE ALL ELSE TO THE EDUCATIONAL NEEDS AND INTERESTS OF OUR DIVERSE STUDENT BODY. WE STRIVE TO CULTIVATE AND EXPAND ACADEMIC, PROFESSIONAL, ARTISTIC AND CO-CURRICULAR OPPORTUNITIES, ENABLING STUDENTS TO REALIZE THEIR FULL POTENTIAL AS ETHICALLY GROUNDED, INTELLECTUALLY VIGOROUS AND SOCIALLY RESPONSIBLE GLOBAL CITIZENS. FORM 990 REVIEW FORM 990, PART VI, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM (KPMG) BASED ON INFORMATION PROVIDED BY THE BUSINESS AND FINANCE DIVISION OF THE UNIVERSITY. THE AUDIT COMMITTEE THEN REVIEWS THE FORM 990 IN A MEETING ATTENDED BY COMMITTEE MEMBERS, MANAGEMENT AND THE INDEPENDENT ACCOUNTANTS. A COPY OF THE FINAL FORM 990 IS PROVIDED TO THE EACH MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING THE RETURN WITH THE IRS. THE AUDIT COMMITTEE CHAIR, CHIEF FINANCIAL OFFICER AND THE INDEPENDENT ACCOUNTANTS ARE AVAILABLE TO THE BOARD FOR QUESTIONS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ANNUALLY COMPLETE A QUESTIONNAIRE TO DISCLOSE POTENTIAL CONFLICTS. THE QUESTIONNAIRE INCLUDES KEY DEFINITIONS AND EXAMPLES. IN ADDITION, THE CONFLICT OF INTEREST POLICY IS ANNUALLY REVIEWED WITH OFFICERS, DIRECTORS AND KEY EMPLOYEES AND THE SAME ARE REGULARLY REMINDED TO DISCLOSE ANY CHANGES. FOR ALL ACTUAL OR POTENTIAL CONFLICTS THAT ARE IDENTIFIED BY MANAGEMENT, THE AFFECTED PERSON IS ASKED TO RECUSE HIMSELF OR HERSELF FROM ALL DELIBERATIONS, TRANSACTIONS, NEGOTIATIONS AND OTHER MATTERS RELATING TO ANY SUCH INTEREST. NEW OFFICERS, DIRECTORS AND KEY EMPLOYEES UNDERGO AN ORIENTATION WHICH INCLUDES A REVIEW OF THE CONFLICT OF INTEREST POLICY. OFFICER COMPENSATION REVIEW FORM 990, PART VI, LINE 15 A/B COMPENSATION FOR THE UNIVERSITY PRESIDENT AND OTHER UNIVERSITY OFFICERS IS ESTABLISHED BY A PROCESS THAT INCLUDES THE USE OF COMPARABILITY DATA, REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES, AND CONTEMPORANEOUS RECORDKEEPING OF DELIBERATIONS AND DECISIONS. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIR OF THE BOARD OF TRUSTEES, THE SECRETARY AND THE UNIVERSITY CHANCELLORS. THE PRESIDENT DOES NOT PARTICIPATE IN THE SETTING/REVIEW OF HER COMPENSATION AND ALL DECISIONS ARE MADE BY INDEPENDENT PERSONS WITHOUT A CONFLICT OF INTEREST WITH RESPECT TO COMPENSATION ARRANGEMENTS. THE MOST RECENT REVIEW TOOK PLACE IN OCTOBER 2014. DOCUMENT REVIEW POLICY FORM 990, PART VI, LINE 19 LONG ISLAND UNIVERSITY PUBLISHES AN ANNUAL REPORT TO THE COMMUNITY WHICH INCLUDES FINANCIAL STATEMENT HIGHLIGHTS. THIS REPORT IS AVAILABLE ON THE UNIVERSITY'S WEB SITE. THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE GENERAL PUBLIC ON REQUEST. THE 990 IS ALSO AVAILABLE AT WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 POSTRETIREMENT CHANGES ....................................$ (2,225,617) CHANGE IN FMV OF INTEREST RATE SWAP AGREEMENTS ............$ (1,692,526) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS ..............$ (198,291) Other nonoperating change in net assets....................$ 50,158 -------------- $ (4,066,276)