2014-07-09T15:34:48-05:00 2013-08-31 990 2012-09-01 111630906 Hofstra University % CATHERINE HENNESSY VP FINANC HOFS 5164636820 128 Hofstra University 100E Phillips Hall Suite Hempstead NY 11549 Catherine Hennessy 2014-07-09 2012 2015-11-30 17:44:51Z STUART RABINOWITZ PRESIDENT Hofstra University Hempstead NY 11549 582661013 false X www.hofstra.edu X 1935 NY INSTITUTION OF HIGHER LEARNING 26 26 7050 150 1184192 28342305 32006066 412113820 418635209 12043097 18487841 174308 197170 452673530 469326286 87255830 92920272 0 0 247016407 247268843 0 0 4734989 103043209 100342301 437315446 440531416 15358084 28794870 842296165 923204491 379585905 390628676 462710260 532575815 INSTITUTION OF HIGHER LEARNING false false 338669676 92920272 378880287 Instruction and related academic support, including research and public services, sponsored programs and scholarships and fellowships. (approximately 10,089 full-time equivalents) 39759788 39754922 Auxiliary enterprises, including residence halls and food service. (approximately 3,331 students in residence halls) 378429464 true true false true false true false true true true true true false true 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 732 0 true 7050 true true true false false false false true true false false false false X 26 26 false false false false false false false true true false false true true true true true true true true false X CATHERINE HENNESSY VP FINANC 5164636820 HOFSTRA UNIVERSITY Hempstead NY 115491280 Alan J Bernon 2.0 X 0 0 0 Tejinder Bindra 2.0 X 0 0 0 Mr Robert F Dall 2.0 X 0 0 0 Mrs Helene Fortunoff 2.0 X 0 0 0 Martin B Greenberg 2.0 X 0 0 0 Mr Joseph M Gregory 2.0 X 0 0 0 Dr Leo A Guthart 2.0 X 0 0 0 Mr Peter S Kalikow 2.0 X 0 0 0 Ms Abby Kenigsberg 2.0 X 0 0 0 Arthur J Kremer Esq 2.0 X 0 0 0 Mrs Karen L Lutz 2.0 X 0 0 0 Mr David S Mack 2.0 X 0 0 0 Janis M Meyer Esq 3.0 X 0 0 0 Mr John D Miller 2.0 X 0 0 0 Marilyn B Monter 2.0 X 0 0 0 Ms Martha S Pope 2.0 X 0 0 0 James E Quinn 2.0 X 0 0 0 Mr Edwin C Reed 2.0 X 0 0 0 Robert Rosenthal 2.0 X 0 0 0 Mr Frank G Zarb 2.0 X 0 0 0 Donna M Mendes 2.0 X 0 0 0 Debra A Sandler 2.0 X 0 0 0 Thomas J Sanzone 2.0 X 0 0 0 Joseph Sparacio 2.0 X 0 0 0 Peter G Schiff 2.0 X 0 0 0 Steven J Freiberg 2.0 X 0 0 0 Arno H Fried 2.0 X 0 0 0 Diana E Lake 2.0 X 0 0 0 Julio A Portalatin 2.0 X 0 0 0 Stuart Rabinowitz 60.0 X X 958084 0 62036 M Patricia Adamski 60.0 X 429921 0 62036 Herman A Berliner 60.0 X 412060 0 62036 Melissa Connolly 60.0 X 234345 0 42641 Dolores Fredrich 60.0 X 417796 0 45623 Richard V Guardino Jr 60.0 X 244462 0 28344 Catherine Hennessy 60.0 X 454004 0 51935 Sandra Johnson 60.0 X 269943 0 26898 Robert W Juckiewicz 60.0 X 311145 0 51935 Alan Kelly 60.0 X 285013 0 44651 Joseph Barkwill 60.0 X 242909 0 38750 Jessica Eads 60.0 X 230876 0 42498 Stephanie Bushey 60.0 X 183212 0 36200 Jeffrey Hathaway 60.0 X 246026 0 8678 Lawrence Smith 60.0 X 568266 0 23824 David Burghardt 60.0 X 337061 0 58342 Veronica Catanese 60.0 X 324329 0 23824 Patrick Socci 60.0 X 320947 0 29968 Eric Lane 60.0 X 315091 0 62765 6785490 0 802984 514 false true false HLW International LLP 115 5th Avenue 5th Floor NEW YORK NY 10003 Construction 1657149 Veterans Transportation Co Inc 20 Lynn Place VALLEY STREAM NY 11580 Bus Service 976213 Structure Tone 770 Broadway 9th Floor NEW YORK NY 10003 Construction 922395 Jeca Associates Inc 23 Knight Road PO Box 4240 WAYNE NJ 07474 Construction 788652 Com Bell Systems Inc 261 Suburban Avenue Unit D DEER PARK NY 11729 Cabling Services 547425 68 897654 9789018 21319394 679599 32006066 TUITION & FEES 611600 362399650 362399650 SALES& SVC AUX ENT 812900 39754922 38627259 1127663 SALES& SVC ED DPT 900099 2461526 2461526 OTHER SOURCE ED SV 900099 14019111 14019111 418635209 9871572 56529 9815043 0 0 761222 318303 442919 0 442919 442919 121011876 112395607 8616269 8616269 8616269 352940 897654 610730 -257790 -257790 22128 10087 12041 12041 0 0 469326286 417507546 1184192 18628482 28205 28205 92892067 92892067 0 0 5961930 1492468 4119256 350206 0 180053862 159275606 18631240 2147016 16470648 14142472 2110404 217772 32733866 27151705 5163734 418427 12048537 10391712 1496519 160306 0 528487 498 527989 216000 216000 39513 39513 0 2839031 2839031 3463626 2775872 511556 176198 2541232 392311 2147986 935 21371080 19217301 1628258 525521 6806393 4304193 2502200 0 11420649 10489005 892081 39563 12925623 11404076 1116293 405254 0 345485 269236 72662 3587 6094117 5782652 311465 0 17508415 13272936 4235479 4675786 235475 4440311 BAD DEBT AND COLLECTION COST 2367985 2188876 179109 CREDIT CARD FEES 198287 198287 OTHER MISC 6478760 2002679 4185877 290204 MEDICAL SCHOOL STIPENDS 521832 521832 440531416 378429464 57366963 4734989 0 0 100858939 100996613 18489562 14638289 7048958 7156930 0 0 0 0 5243388 6166727 262188 364763 5736291 5786053 543283024 281297978 256882395 261985046 259783695 290792159 172232363 189079266 0 0 0 0 15758386 46238645 842296165 923204491 18221803 20524500 0 0 108417442 107766242 162098118 188512552 0 632517 0 0 1106395 3981308 0 0 89742147 69211557 379585905 390628676 X 286503621 342169122 66954072 76005941 109252567 114400752 462710260 532575815 842296165 923204491 X 28794870 41070685 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true false true 39513 true 10484 true false 49997 false Lobbying Activity Explanation SCHEDULE C, PART II-B, Item 1f The University paid membership dues to the Commission on Independent Colleges and Universities (CICU). CICU has estimated that 5.89% of its operating budget relates to lobbying activities. For the year, the portion of the dues related to lobbying activities was $3,513. 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 $36,000 to a law firm to advise on NYS legislation and regulation and in addressing other state issues. Direct Contact with Legislators Schedule C, Part II-B, Item 1g Represents salary allocations for Officers and direct lobbying expenses as reported to NY State for direct contact with NY State officials and their staff. 13 80050 130093 1008924 true true X X X false true 697021 1450811 1515315 632517 true 318447738 20031637 37290970 3962393 8523464 2802297 360482191 267162751 40340425 24434066 3853799 7470907 2164798 318447738 237406746 7987754 34727954 3439431 7533684 1986588 267162751 206571265 22931193 19722698 3267481 6504413 2046516 237406746 224893981 8344093 -15513460 3413187 6371501 1368661 206571265 0.52500 0.30100 0.17400 false false 13307751 13307751 401427922 187886046 213541876 93875892 73166460 20709432 34671459 20245472 14425987 261985046 ENDOWMENT-EQUITY FUND 77099821 F ENDOWMENT-FIXED INCOME FUND 24763693 F ENDOWMENT-HEDGE FDS/PRIV EQTY 55755448 F ENDOW SPLIT INT-CASH&CASH EQUI 36514 F OTHER-CASH&CASH EQUIV 1677151 F ENDOWMENT - REAL ESTATE 12654253 F ENDOWMENT - OTHER 6831223 F OTHER-EQUITY 2029716 F OTHER-FIXED INCOME 4069343 F OTHER-HEDGE FUND/PVT EQUITY 4162104 F 189079266 ASSETS HELD BY BOND TRUSTEES 37286657 OTHER RECEIVABLES, NET 8951988 46238645 0 OTHER LIABILITIES 12082013 US GOVT GRANTS REFUNDABLE 2746247 LIABILITY FOR POSTRETIREMENT 49986354 ASSET RETIREMENT OBLIGATION 4396943 69211557 X 397438751 22949968 893595 23843563 373595188 2839031 92892067 95731098 469326286 345693913 893595 893595 344800318 2839031 92892067 95731098 440531416 Art Collection Footnote 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. Art Collection - Tax Exempt Purpose Part III, Line 4 The daily, annual and long-range operations of the Hofstra University Museum are consonant with the missions 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. FIN 48 Footnote Part X 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, 2013 and 2012. Accordingly, no provision for income taxes has been reflected in the University's financial statements. Reconciliation of Revenue - Other Part XII, Line 2d represent amounts included on Line 1, but not on Form 990, Part VIII, Line 12 and is made up of the following: Rental Expenses 272,778 Gaming Expenses 10,087 Fundraising Expenses 610,730 -------- Total 893,595 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 $92,892,067 Reconciliation of Expenses - Other Part XIII, Line 2d and Line 4b Part XIII, Line 2d represent amounts included on Line 1, but not on Form 990, Part IX, Line 25 and is made up of the following: Rental Expenses 272,778 Gaming Expenses 10,087 Fundraising Expenses 610,730 -------- Total 893,595 Part XIII, 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 $92,892,067 Donor Advised Funds or Other Similar Funds or Accounts Part I 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 13 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 13 funds is $1,008,924, representing 0.3% of the total endowment value at August 31, 2013. Endowment Funds Schedule D, Part V The University endowment funds are used to support student scholarships, professorships, facilities and other programs. 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 The nondiscriminatory policy is publicized through recruitment publications, student bulletins and website. Government Support Schedule E, Part 1, Line 6 The University received government support from Federal, New York State and local sources. false Europe (Including Iceland and Greenland) 3 Program Services Study Abroad Program 715386 Central America and the Caribbean Program Services Study Abroad Program 46602 East Asia and the Pacific Program Services Study Abroad Program 112898 Sub-Saharan Africa Program Services Study Abroad Program 3171 South Asia Program Services Study Abroad Program 2293 Central America and the Caribbean Investments 62222166 East Asia and the Pacific Program Services Recruitment 26802 Middle East and North Africa Program Services Recruitment 16382 South America Program Services Recruitment 13335 South Asia Program Services Recruitment 8172 Europe (Including Iceland and Greenland) Program Services Recruitment 6996 3 3 63174203 63174203 true false false true false false X X X X X X X true Development GuildDDI 233 Harvard Street Suite 107 Brookline MA 02446 See Part IV false 173592 173592 2013 Gala Ball 664814 540814 124000 223101 95004 9300 27870 Suburban Divers 216201 174841 41360 1179 35103 12313 1383 11 345739 169968 175771 66073 108068 2550 18206 1226754 885623 341131 290353 238175 24163 47459 600150 -259019 22128 1937 8150 false 22128 1937 8150 10087 12041 NY true false true false 1.00000 James Spero 128 Hofstra University Hempstead NY 11549 false NONE true 12041 Raffle Events Schedule G, Part III Raffle events included prizes donated to the University which were not reported as gifts on the books of the University. Fundraising Activities Schedule G, Part I The University contracted with Development Guild/DDI to consult on fundraising for Capital Campaign, but not involved in direct solicitation. true American Cancer Society 75 Davids Drive Hauppauge NY 11788 131788491 501(c)(3) 10205 Contribution UCP of Greater Suffolk 250 Marcus Avenue PO Box 18045 Hauppauge NY 11788 112568841 501(c)(3) 6000 Contribution The Disability Fund Inc 201 IU Willets Road Albertson NY 11507 260283588 501(c)(3) 6000 Contribution Mental Health Association of Nassau County 16 Main Street Hempstead NY 11550 111710983 501(c)(3) 6000 Contribution 4 Total Student Financial Aid (See breakdown below) Athletic Student Financial Aid 263 5030935 NA NA Undergraduate Student Financial Aid 4919 71906198 NA NA Graduate Student Financial Aid 1520 15954933 NA NA Grant Monitoring Schedule I, Part I, Item 2 Externally Sponsored programs are assigned a specific number identifier code (Fund number). The use of a specific identifier code associated with the contract ensures that funds are not comingled. Contract specific budgets are established within this fund number and all transactions associated with the project require approvals prior to posting. Additionally, invoice billing (and receipt of revenue) is also processed according to agreement terms and conditions. Periodic reviews of the program status are also conducted, most often on a monthly basis but at minimum on an annual cycle. X X X true true X X X X X false false false false false false false false false Stuart Rabinowitz 709571 0 0 0 248513 0 38574 0 23462 0 1020120 0 0 0 M Patricia Adamski 378138 0 0 0 51783 0 38574 0 23462 0 491957 0 0 0 Herman A Berliner 364409 0 0 0 47651 0 38574 0 23462 0 474096 0 0 0 Melissa Connolly 222254 0 0 0 12091 0 26066 0 16575 0 276986 0 0 0 Dolores Fredrich 377800 0 0 0 39996 0 29048 0 16575 0 463419 0 0 0 Richard V Guardino Jr 235946 0 0 0 8516 0 27318 0 1026 0 272806 0 0 0 Catherine Hennessy 416575 0 0 0 37429 0 29048 0 22887 0 505939 0 0 0 Sandra Johnson 257048 0 0 0 12895 0 25297 0 1601 0 296841 0 0 0 Robert W Juckiewicz 291881 0 0 0 19264 0 29048 0 22887 0 363080 0 0 0 Alan Kelly 274625 0 0 0 10388 0 29048 0 15603 0 329664 0 0 0 Joseph Barkwill 233720 0 0 0 9189 0 23147 0 15603 0 281659 0 0 0 Jessica Eads 215612 0 0 0 15264 0 25923 0 16575 0 273374 0 0 0 Stephanie Bushey 171112 0 0 0 12100 0 19673 0 16527 0 219412 0 0 0 Jeffrey Hathaway 228678 0 0 0 17348 0 0 8678 0 254704 0 0 0 Lawrence Smith 538433 0 0 0 29833 0 22798 0 1026 0 592090 0 0 0 David Burghardt 201101 0 0 0 135960 0 34164 0 24178 0 395403 0 0 0 Veronica Catanese 316874 0 0 0 7455 0 22798 0 1026 0 348153 0 0 0 Patrick Socci 302951 0 0 0 17996 0 22798 0 7170 0 350915 0 0 0 Eric Lane 224795 0 0 0 90296 0 38574 0 24191 0 377856 0 0 0 Officer Compensation Part I, Line 1a All items identified on Line 1a are included as compensation on both the employee's W2 and on Form 990, Schedule J. Payment or Reimbursement Part I, Line 1b Payment or reimbursement is pursuant to a written agreement. Compensation - Part II, Items C and D 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 group pension plan, with rates 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. All group benefits apply equally to all employees. A Town of Hempstead IDA Series 2007 113237317 424674DM8 2007-05-17 25515700 Construction & Renov of Facilities false false false B Town of Hempstead LDC Series 2011 112798949 424682CZ3 2011-12-20 75541215 Refinance 1998 Bonds & Renovations false false false C Town of Hempstead LDC Series 2013 112798949 424682ED0 2013-06-20 70200775 Refinance 2003 Bonds & New Facilit false false false A 2000000 0 26134282 0 0 0 613767 0 0 25468348 52167 0 2008 false false true true B 0 0 75559020 0 0 0 771553 0 0 15180054 52232822 7374591 2014 true false false true C 0 0 70203100 0 0 0 796915 0 0 339491 39152303 29914391 2015 true false false true A false false false false false false 0 false false false B false false true false false false 0.00000 0.01390 0.01390 false false false C false false false false false false 0.00100 0.00100 0.00200 false false false 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 0 Includes investment earnings on Bond Proceeds through 8/31/13. Part IV, Line 2 0 Arbitrage Calculation Date: A. 2007 Town of Hempstead IDA - May 16, 2013 B. 2011 Town of Hempstead LDC - January 31, 2013 C. 2013 Town of Hempstead LDC - New issue - First calculation not yet due. X 50 NA X NA X NA X 25 561507 FMV of stocks X 1 NA X 4 NA X Event Supplies 6 0 NA X Gift Card/Certificate 120 0 NA X Tickets 8 0 NA X Equipment 3 0 NA X Lab Supplies 1 0 NA 5 false true true Stock Sales Schedule M, Part I, Line 32a The University utilizes the services of a third party broker to process stock gift sales. Noncash Gifts Schedule M, Part I, Line 33 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. Current Officer, Directors, Trustees, and Key Employees Form 990, Part VI, Section A, Question 2 As per statements filed annually with the University, 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. Former Officer, Directors, Trustees, and key employees Form 990, Schedule J The University contributes to retiree health benefits for Former employees, including former officers. Checklist of Required Schedules 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. Review of Form 990 Form 990, Part VI, Line 11 Form 990 is prepared by the University, and reviewed by an outside tax consultant. The VP for Financial Affairs and Treasurer also reviews the return with the President, Senior VP for Planning and the VP 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. Compensation Process 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 thoroughly the compensation of the President and officers and other key employees. The Committee assesses and approves the reasonableness of the compensation of the President; other officers are recommended by the President to the Board of Trustees. General Counsel is responsible for providing the necessary data 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 parties 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. Conflict of Interest Policy 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. Any disclosure or matter in violation of the policy is brought to the attention of the Board of Trustees. In addition, there is a conflict of interest policy for all administrative 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. Reconciliation of Net Assets Form 990, Part XI, Line 5 Other changes in net assets are made up of the following: Unrealized Gains on Investments $ 22,949,968 Postretirement Changes other than net periodic benefit costs 20,207,677 Reclassifications and other adjustments (2,086,960) ------------- $ 41,070,685 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 See Pt VII 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 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 Related Tax Exempt Organizations Schedule R, Part V 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. The Hofstra Law Access to Justice Incubator has filed the application for exemption under section 501(c)(3).