2014-05-14T10:37:09-05:00 2013-06-30 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2012-07-01 237227990 BROOKLYN LAW SCHOOL BROO 7186252200 250 JORALEMON STREET BROOKLYN NY 112013700 LAURIE H NEWITZ 7186252200 2014-05-07 1 MARTIN GREIF P00029738 2123721000 2012 2015-11-30 17:44:51Z JOAN G WEXLER 250 JORALEMON STREET BROOKLYN NY 112013700 91354378 0 X WWW.BROOKLAW.EDU X 1901 NY SEE SCHEDULE O FOR COMPLETE NARRATIVE 18 16 1091 1182 0 0 5190989 5418870 65285574 61619984 19167042 4074275 2979169 2744891 92622774 73858020 25630947 25840076 0 0 34010385 33887897 46533 0 3119752 15796903 18661039 75484768 78389012 17138006 -4530992 261775641 261202661 96997913 93512765 164777728 167689896 X SEE SCHEDULE O FOR COMPLETE NARRATIVE 0 0 64281097 25840076 61953293 THE EDUCATION OF STUDENTS IN PREPARATION FOR THE LEGAL PROFESSION. IN THE FALL OF ACADEMIC YEAR 2012/2013 ENROLLMENT WAS APPROXIMATELY 1,286. 64281097 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 1 0 1 1 1 0 0 0 0 0 0 0 0 1 309 0 1 1091 1 0 0 0 0 0 0 0 0 0 0 X 18 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X LAURIE H NEWITZ 7186252200 250 JORALEMON STREET BROOKLYN NY 11201 X STUART SUBOTNICK ESQ 1.80 X 0 0 0 HON EDWARD R KORMAN 1.20 X 0 0 0 BURNSIDE E ANDERSON III ESQ 0.80 X 0 0 0 FRANCIS J AQUILA ESQ 0.80 X 0 0 0 HON HERMAN BADILLO ESQ 0.80 X 0 0 0 DAVID M BARSE ESQ 1.20 X 0 0 0 FREDERICK COHEN ESQ 1.20 X 0 0 0 JEFFREY J FEIL ESQ 0.80 X 0 0 0 MARTIN A FISCHER ESQ 1.20 X 0 0 0 JEFFREY D FORCHELLI ESQ 0.80 X 0 0 0 ROBERT M KAUFMAN ESQ 0.80 X 0 0 0 EILEEN T NUGENT ESQ 0.80 X 0 0 0 HON REENA RAGGI 0.80 X 0 0 0 FLORENCE SUBIN ESQ 0.80 X 0 0 0 HON RALPH K WINTER 0.80 X 0 0 0 STEVEN L ZELKOWITZ ESQ 1.30 X 0 0 0 SHANNON M HALEY ESQ 0.80 X 0 0 0 LEO KITTAY ESQ 0.80 X 0 0 0 JOAN G WEXLER ESQ 40.00 X 532398 0 103226 NICHOLAS W ALLARD ESQ 40.00 X 252772 0 17210 LAURIE NEWITZ 40.00 X 271943 0 45374 BERYL R JONES-WOODIN 40.00 X 202402 0 56429 MICHAEL T CAHILL 40.00 X 195739 0 46739 HENRY W HAVERSTICK III 40.00 X 228878 0 38936 AARON TWERSKI 40.00 X 317962 0 51772 JOEL M GORA 40.00 X 301950 0 51772 ROBERTA KARMEL 40.00 X 284246 0 40932 NEIL B COHEN 40.00 X 274498 0 61401 ANITA BERNSTEIN 40.00 X 273106 0 42286 MICHAEL A GERBER 40.00 X 297224 0 53212 LAWRENCE M SOLAN 40.00 X 253170 0 51123 3686288 0 660412 55 1 1 0 TRIANGLE SERVICES 10 FIFTH STREET VALLEY STREAM NY 11581 CLEANING SERVICES 672461 ALLTERIOR CONTRACTING 2521 49TH STREET ASTORIA NY 11103 CONTRACTOR 376195 MEDLEY AIR 265 MCCORMIC DRIVE BOHEMIA NY 11716 TEMPERTURE CONTROL SYSTEM 279529 SPIEGEL CONSULTANTS LLC 104 CHARLTON STREET SUITE 1W NEW YORK NY 10014 CONTRACTOR 276198 CULIN ART 175 SUNNYSIDE BLVD PLAINVIEW NY 11803 FOOD/CATERING 259082 7 5271 5413599 98702 5418870 TUITION & FEES 900099 61530254 61530254 FINANCIAL AID PROGRAMS 900099 89730 89730 61619984 2888379 2888379 9419435 7007853 2411582 2411582 2411582 11674401 10488505 1185896 1185896 1185896 JOURNAL / PUBLICATION / COURSE MA 900099 98634 98634 SPECIAL ALUMNI PROGRAMS 900099 80790 80790 SETTLEMENTS/OTHER REFUNDS 900099 41723 41723 112162 112162 333309 73858020 61953293 0 6485857 25840076 25840076 3413244 1036594 1295551 1081099 617131 617131 22468205 18906250 2658728 903227 1936919 1629853 229201 77865 3731864 3140240 441602 150022 1720534 1447772 203596 69166 110937 110937 279761 279761 403308 403308 690687 289639 391759 9289 184277 116593 33368 34316 1155409 645030 345056 165323 1385816 799749 503400 82667 2265164 2265164 293972 243825 17884 32263 838777 651039 41008 146730 6682050 5464551 951844 265655 1943493 1589380 276847 77266 338293 30805 307488 LIBRARY ACQUISTIONS/AUD 1169340 1169340 MISCELLANEOUS 354186 264788 71571 17827 SUBCRIPTIONS & PUBLICAT 149149 141515 3710 3924 MEMBERSHIPS 125500 49876 72511 3113 290920 207051 83869 78389012 64281097 10988163 3119752 1600 1600 12907113 14725435 1286400 1701948 123167 446420 158513 400524 391255 176804695 51777625 128862092 125027070 98111756 108219445 1103143 948659 18979846 9582316 261775641 261202661 6027972 7793784 842809 787170 80479831 75252049 9647301 9679762 96997913 93512765 X 138628812 136693587 12343144 14771063 13805772 16225246 164777728 167689896 261775641 261202661 X -4530992 7519991 -76831 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 77350 X X 0 105828691 4029911 11713688 4517208 117055082 93803704 4618824 11426408 4020245 105828691 74497250 4463795 17768679 2926020 93803704 58236720 12836051 5383548 1959069 74497250 48431267 22011434 -11193699 1012282 58236720 0.75200 0.13860 0.10940 0 0 9862360 9862360 166288951 51426160 114862791 0 576034 351465 224569 77350 77350 125027070 INTEREST PAYABLE 1784050 ACCRUED POSTRETIREMENT BENEFITS PAYABLE 5023731 REFUNDABLE LOAN PROGRAM LIABILITY 2871981 9679762 X 63509147 7519991 10400 6931023 14461414 49047733 24810287 24810287 73858020 60596978 10400 7007853 7018253 53578725 24810287 24810287 78389012 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE LAW SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE LAW SCHOOL MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) OR PURPOSE AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE OVERRIDING OBJECTIVE IS TO MAINTAIN PURCHASING POWER. NET OF SPENDING, THE OBJECTIVE IS TO GROW THE AGGREGATE PORTFOLIO VALUE AT THE RATE OF INFLATION OVER THE LAW SCHOOL'S INVESTMENT HORIZON. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE LAW SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. THE LAW SCHOOL FILES TAX AND INFORMATION RETURNS WITH THE INTERNAL REVENUE SERVICE AND WITH NEW YORK STATE. TAX YEARS SUBSEQUENT TO 2009 REMAIN SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE LAW SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE LAW SCHOOL HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE LAW SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010 WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. AT JUNE 30, 2013, THE LAW SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AND HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO TAXES DURING EITHER OF THE YEARS ENDED JUNE 30, 2013 AND 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL PROPERTY EXPENSE 7,007,853. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 124,403. OTHER POST-RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS -201,233. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE - NET IN REVENUE 24,810,287. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL PROPERTY EXPENSE 7,007,853. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE - NET IN REVENUE 24,810,287. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLISHED ON THE BROOKLYN LAW SCHOOL WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 FINANCIAL AID FROM GOVERNMENT AGENCIES: 1) FEDERAL PERKINS LOAN PROGRAM 2) FEDERAL WORK STUDY PROGRAM 3) FEDERAL DIRECT LOAN PROGRAM EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES INTERNATIONAL STUDY ABROAD 53483 EAST ASIA AND THE PACIFIC - 0 0 PROGRAM SERVICES INTERNATIONAL STUDY ABROAD 53234 0 0 0 0 0 0 106717 0 106717 0 0 0 0 0 0 1 SCHOLARSHIPS 897 24810287 FMV FELLOWSHIPS 205 469603 FMV LOAN FORGIVENESS 61 323763 FMV PRIZES AND AWARDS 98 31950 1285 FMV PLAQUES, MEDALS AND LETTER OPENERS FWS MATCH - OUTSIDE MATCH 517 203188 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: BROOKLYN LAW SCHOOL DOES AWARD SCHOLARSHIPS AND FELLOWSHIPS. THESE TYPES OF ASSISTANCE ARE SET UP FOR A SPECIFIC PURPOSE AND DO NOT REQUIRE ANY PROCEDURES FOR MONITORING HOW THE FUNDS ARE USED. X X X 1 1 X X X 0 0 0 0 0 0 0 1 1 0 JOAN G WEXLER ESQ 496672 0 25000 0 10726 0 31250 0 71976 0 635624 0 0 0 NICHOLAS W ALLARD ESQ 250000 0 0 0 2772 0 0 0 17210 0 269982 0 0 0 LAURIE NEWITZ 268331 0 0 0 3612 0 31250 0 14124 0 317317 0 0 0 BERYL R JONES-WOODIN 197535 0 0 0 4867 0 26882 0 29547 0 258831 0 0 0 MICHAEL T CAHILL 192410 0 0 0 3329 0 25566 0 21173 0 242478 0 0 0 HENRY W HAVERSTICK III 219285 0 0 0 9593 0 28153 0 10783 0 267814 0 0 0 AARON TWERSKI 300247 0 0 0 17715 0 31250 0 20522 0 369734 0 0 0 JOEL M GORA 249735 0 0 0 52215 0 31250 0 20522 0 353722 0 0 0 ROBERTA KARMEL 251916 0 0 0 32330 0 31250 0 9682 0 325178 0 0 0 NEIL B COHEN 243866 0 0 0 30632 0 31250 0 30151 0 335899 0 0 0 ANITA BERNSTEIN 256559 0 0 0 16547 0 31250 0 11036 0 315392 0 0 0 MICHAEL A GERBER 276427 0 0 0 20797 0 31250 0 21962 0 350436 0 0 0 LAWRENCE M SOLAN 224482 0 0 0 28688 0 29413 0 21710 0 304293 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: A. REIMBURSEMENT OF TRAVEL EXPENSES FOR A COMPANION WHICH OCCURS OCCASIONALLY IS PAID ONLY IF THE TRAVEL EXPENSE QUALIFIES AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: B. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT AND THE DEAN ARE REQUIRED TO HAVE A HOME ON THE LAW SCHOOL'S CAMPUS WHICH IS FURNISHED AND MAINTAINED AT THE LAW SCHOOL'S EXPENSE. PERSONAL SERVICE: C. THE LAW SCHOOL ALSO PROVIDES A CAR AND A DRIVER TO BE USED BY THE PRESIDENT IN CONNECTION WITH HER DUTIES. THE PRESIDENT IS RESPONSIBLE FOR ANY PERSONAL USE OF THE CAR, DRIVER AND OTHER PERSONAL EXPENSE. PART I, LINE 8 THE AMOUNT REPORTED IN FORM 990, PART VII FOR NICHOLAS W. ALLARD, ESQ. DEAN AND PROFESSOR OF LAW HAS BEEN PAID PURSUANT TO A CONTRACT THAT WAS SUBJECT TO THE INITIAL CONTRACT EXCEPTION DESCRIBED IN REGULATIONS SECTION 53.4958-4(A)(3). THE CONTRACT WAS ENTERED INTO ON MARCH 27, 2012 AND WAS EFFECTIVE JULY 1, 2012. SUPPLEMENTAL INFORMATION PART III PART I, LINE 1A & 7: INCOME REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II) FOR PRESIDENT WEXLER INCLUDES $25,000 REPRESENTS A ONE TIME PAYMENT FOR SALARY INCREASES FOREGONE IN PREVIOUS YEARS. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64983UUY4 2003-08-20 91001641 REFUND BONDS ISSUED ON 12/04/1991; FUND COSTS OF NEW CONSTRUCTION 1 0 0 B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649905MZ6 2009-07-22 22195460 REFUND PORTION OF BONDS ISSUED ON 08/20/2003 0 0 0 C DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649906R63 2012-07-25 53833478 REFUND PORTION OF BONDS ISSUED ON 08/20/2003 0 0 0 A 33750000 55520000 91014318 6025850 5528845 1095136 3876264 63216326 11259509 2006 1 0 1 1 B 22195460 2234000 442227 19519233 2006 1 0 1 1 C 53833478 52009489 785705 75000 963833 0 1 1 1 A 0 1 0 0 0.00440 0.00440 0 0 1 B 0 1 0 0 0.00440 0.00440 0 0 1 C 0 1 0 0 0.00440 0.00440 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART II, LINE 3 (COLUMN A): THE DIFFERENCE WITH THE AMOUNT LISTED IN PART I, COLUMN E WAS ATTRIBUTABLE TO INVESTMENT EARNINGS DURING THE CONSTRUCTION PERIOD. SCHEDULE K, PART II, LINE 4 (COLUMNS A & C): ON 7/25/2012, THE REMAINING AMOUNTS IN THE RESERVE AND DEBT SERVICE FUNDS FOR THE 2003 BONDS WERE DEPOSITED, TOGETHER WITH PROCEEDS OF THE 2012 BONDS, INTO A REFUNDING ESCROW TO DEFEASE THE REMAINING PORTION OF THE 2003 BONDS. TOTAL AMOUNTS ON DEPOSIT IN THE REFUNDING ESCROW GENERATED $837 OF INVESTMENT EARNINGS AS OF 6/30/2013. LINE 4, COLUMN A INCLUDES $288 OF SUCH AMOUNT WHICH WAS ATTRIBUTABLE TO THE INVESTMENT OF PROCEEDS FROM THE 2003 RESERVE FUNDS AND 2003 DEBT SERVICE FUNDS. LINE 4, COLUMN C INCLUDES THE REMAINING $549 WHICH WAS ATTRIBUTABLE TO THE INVESTMENT OF 2012 BOND PROCEEDS. SCHEDULE K, PART II, LINE 11 (ALL COLUMNS): AMOUNTS LISTED INCLUDE PROCEEDS SPENT TO REFUND PRIOR ISSUE OF BONDS. SCHEDULE K, PART III (ALL COLUMNS): DOES NOT INCLUDE INFORMATION RELATING TO THE USE OF PROCEEDS FROM THE 1991 BONDS (REFUNDED BY THE 2003 BONDS AND SUBSEQUENTLY BY THE 2009 AND 2012 BONDS) WHICH WERE ISSUED PRIOR TO JANUARY 1, 2003. SCHEDULE K, PART III, LINE 4 (ALL COLUMNS): THE 2003 BONDS WERE A MULTIPURPOSE ISSUE CONSISTING OF A NEW MONEY PORTION AND A REFUNDING PORTION. THE 2003 BONDS WERE ALLOCABLE TO EACH SEPARATE ISSUE ON THE BASIS OF A PRO-RATA ALLOCATION. AS A RESULT, THE PRIVATE BUSINESS USE FOR EACH REFUNDING ISSUE (THE 2009 BONDS AND THE 2012 BONDS) EQUALED THAT OF THE 2003 BONDS. AS DESCRIBED ABOVE, INFORMATION IN LINE 4 OF PART III DOES NOT INCLUDE ANY INFORMATION THAT RELATES TO THE 1991 BONDS. SCHEDULE K, PART IV, LINE 2C, COLUMN A: THE REBATE COMPUTATION WAS PERFORMED IN JULY 2013, WHICH WAS A FINAL COMPUTATION DATE FOR THE BONDS. NICHOLAS W ALLARD OFFICER MORTGAGE X 158324 158513 0 1 1 158513 JOSHUA GERBER FAMILY MEMBER OF FORMER INTERIM DEAN MICHAEL GERBER 15786 SCHOLARSHIP TUITION REDUCTION BENJAMIN KORMAN FAMILY MEMBER OF EDWARD R. KORMAN, TRUSTEE, VICE CHAIRMAN 31946 EMPLOYEE COMPENSATION 0 STUART SUBOTNICK CHAIRMAN OF THE BOARD OF TRUSTEES 234201 REMITTANCE TO ENERGY SERVICES COMPANY WHERE HE IS AN OFFICER. 0 X 8 98702 FMV 0 1 0 DESCRIPTION OF ORGANIZATION MISSION: FORM 990, PART I, LINE 1 THE FUNDAMENTAL MISSION OF BROOKLYN LAW SCHOOL IS TO PROVIDE ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, AND ETHICAL VALUES NEEDED FOR A CAREER IN THE LAW. NUMBER OF VOLUNTEERS: FORM 990, PART I, LINE 6 210 CAREER CENTER PROGRAMS & MENTORS 65 CLASS CHAIRS 53 LAW FIRM CHALLENGE REP.'S 270 ALUMNI 75 PRESIDENT'S ADVISORY COUNCIL/BOARD OF TRUSTEES 118 STUDENTS 391 SYMPOSIA/EVENTS/OTHER DESCRIPTION OF ORGANIZATION MISSION: FORM 990, PART III, LINE 1 THE FUNDAMENTAL MISSION OF BROOKLYN LAW SCHOOL IS TO PROVIDE ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, AND ETHICAL VALUES NEEDED FOR A CAREER IN THE LAW. A WELL-ROUNDED LEGAL EDUCATION EXPOSES STUDENTS TO THEORY AND LEGAL DOCTRINE, AND GIVES THEM THE PRACTICAL SKILLS THAT WILL BE EXPECTED OF THEM AS LAWYERS. IN ORDER TO ACHIEVE ITS MISSION, THE LAW SCHOOL HAS CREATED, AND IS CONTINUING TO CREATE, A COMMUNITY OF OUTSTANDING LEGAL SCHOLARS AND TEACHERS AND STUDENTS WHO ARE AMONG THE BEST AND THE BRIGHTEST. BROOKLYN LAW SCHOOL IS DEDICATED TO CONTRIBUTING TO THE ADVANCEMENT OF OUR UNDERSTANDING OF LAW, LEGAL INSTITUTIONS, AND SOCIETY AT LARGE. BROOKLYN LAW SCHOOL'S FACULTY PRODUCES AN IMPRESSIVE BODY OF WORK, INCLUDING CASEBOOKS, TREATISES, AND ARTICLES IN DISTINGUISHED LAW JOURNALS. THE FACULTY'S STATURE HAS GREATLY ENHANCED THE LAW SCHOOL'S REPUTATION THROUGHOUT THE UNITED STATES AND ABROAD. BROOKLYN LAW SCHOOL BOASTS MORE THAN A CENTURY OF EXPERIENCE IN TRAINING STUDENTS TO ENGAGE IN THE PRACTICE OF LAW. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FORM 990 SHALL BE DISTRIBUTED BY THE CHIEF FINANCIAL OFFICER TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO BEING SUBMITTED TO THE IRS. THE DRAFT FORM 990 SHALL BE DISTRIBUTED EARLY ENOUGH TO PROVIDE EACH FINANCE COMMITTEE MEMBER WITH A REASONABLE AMOUNT OF TIME FOR REVIEW AND SUBMISSION OF QUESTIONS OR COMMENTS PRIOR TO THE FILING DEADLINE. THE FINAL FORM 990 SHALL BE DISTRIBUTED TO EACH BOARD MEMBER PRIOR TO BEING FILED WITH THE IRS. THE DRAFT AND FINAL FORM 990 MAY BE DISTRIBUTED IN PERSON, BY REGULAR MAIL, E-MAIL, OR FAX. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND PROCEDURES IS DESIGNED TO ENSURE THAT WHENEVER A MATTER IS DISCUSSED OR A DECISION IS MADE BY THE LAW SCHOOL'S GOVERNING BOARD OR COMMITTEE, BOARD AND COMMITTEE MEMBERS FIRST ARE MADE AWARE OF THE EXISTENCE OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE POLICY ALSO REQUIRES THE LAW SCHOOL TO GATHER INFORMATION ABOUT SUCH CONFLICTS. THIS IS DONE BY REQUIRING EACH BOARD MEMBER, OFFICER, AND KEY EMPLOYEE AND ANY OTHER PERSON WHO REGULARLY ATTENDS THE LAW SCHOOL BOARD AND COMMITTEE MEETINGS TO COMPLETE AND FILE A CONFLICT OF INTEREST DISCLOSURE STATEMENT BEFORE SERVING ON THE LAW SCHOOL BOARD OR ANY COMMITTEE. THE DISCLOSURE STATEMENT REQUIRES EACH BOARD MEMBER, OFFICER, OR KEY EMPLOYEE TO DISCLOSE ANY BUSINESS OR PERSONAL INTERESTS, DIRECT OR INDIRECT, THAT THE PERSON MAY HAVE IN ANY ENTITY THAT DOES BUSINESS WITH THE LAW SCHOOL. THE POLICY AND THE DISCLOSURE STATEMENT CONTAIN THE INFORMATION AND DEFINITIONS EACH PERSON WILL NEED TO PROPERLY COMPLETE HIS OR HER PERSONAL DISCLOSURE STATEMENT. THE PROCEDURES ARE PERFORMED ANNUALLY. EACH TRUSTEE, OFFICER, KEY EMPLOYEE, AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON-- A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY AND PROCEDURES, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, D. UNDERSTANDS THAT THE LAW SCHOOL IS A TAX-EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION POLICY IS INTENDED TO COMPLY WITH IRS FORM 990 REPORTING AND APPLIES TO THE "COMPENSATION" OF BROOKLYN LAW SCHOOL'S "KEY EMPLOYEES" AND "OFFICERS". (A) REVIEW AND APPROVAL BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES: THE COMPENSATION OF ANY KEY EMPLOYEE OR OFFICER THAT FULFILLS THE CRITERIA DEFINED IN THIS POLICY SHALL BE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE, PROVIDED THAT ANY PERSONS WITH CONFLICTS OF INTEREST SHALL NOT BE INVOLVED IN THE REVIEW AND APPROVAL OF THE COMPENSATION ARRANGEMENT. (1) APPLICABLE CONFLICT OF INTEREST POLICY PROVISIONS. PURSUANT TO BROOKLYN LAW SCHOOL'S CONFLICT OF INTEREST POLICY AND PROCEDURES, THE FOLLOWING RESTRICTIONS APPLY WITH RESPECT TO THE INDIVIDUALS WHO MAY REVIEW AND APPROVE EXECUTIVE COMPENSATION ARRANGEMENTS: A) A VOTING MEMBER OF THE BOARD OF TRUSTEES WHO RECEIVES COMPENSATION FOR SERVICES FROM BROOKLYN LAW SCHOOL, WHETHER DIRECTLY OR INDIRECTLY, AND ANY OTHER TRUSTEE WHO IS THAT VOTING MEMBER'S "IMMEDIATE FAMILY MEMBER," IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION, OR THE COMPENSATION OF ANY OTHER MEMBER OF THE "INDEPENDENT EVALUATION COMMITTEE," OR ANY TRANSACTION WITH A BUSINESS IN WHICH EITHER THE MEMBER OR ANY OTHER MEMBER OF THE INDEPENDENT EVALUATION COMMITTEE HOLDS A "FINANCIAL INTEREST." B) A VOTING MEMBER OF ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION FROM THE ORGANIZATION FOR SERVICES, WHETHER DIRECTLY OR INDIRECTLY, IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO HIS/HER COMPENSATION OR THE COMPENSATION OF ANY MORE SENIOR STAFF EXECUTIVE OF BROOKLYN LAW SCHOOL. (B) USE OF DATA FOR COMPARABLE COMPENSATION: PRIOR TO APPROVING THE COMPENSATION OF ANY KEY EMPLOYEE OR OFFICER, THE FINANCE COMMITTEE SHALL REVIEW AND EVALUATE HIS OR HER COMPENSATION USING DATA FOR COMPARING COMPENSATION OF SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED EDUCATIONAL INSTITUTIONS. (C) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING: THE FINANCE COMMITTEE SHALL CONTEMPORANEOUSLY DOCUMENT AND MAINTAIN RECORDS OF ITS DELIBERATIONS AND DECISIONS REGARDING SUCH COMPENSATION ARRANGEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE LAW SCHOOL MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. REPORTABLE COMPENSATION FORM 990, PART VII, SECTION A THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 124,403. OTHER POST-RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS -201,233. ROUNDING -1.