2012-05-15T14:01:41-05:00 2011-06-30 O'Connor Davies Munns & Dobbins LLP 60 East 42nd Street 36th Fl New York NY 101653698 990 2010-07-01 133297197 The New School NEWS 2122295600 66 West 12th Street New York NY 10011 FRANK BARLETTA 2122295600 2012-05-15 1 Garrett M Higgins 2122862600 2012-05-10 2010 2016-02-24 21:20:13Z Frank Barletta 66 West 12th Street New York NY 10011 640228326 0 X www.newschool.edu X 1919 NY See Schedule O 52 48 6843 278 -77081 -80513 34944733 30279404 326649898 347505955 1905156 7794547 2130376 3030071 365630163 388609977 72613383 81021360 0 0 182383006 196408241 0 0 5104235 98612287 104502472 353608676 381932073 12021487 6677904 598813470 941841112 202985725 510135079 395827745 431706033 X See Schedule O 0 0 120686701 319207368 Academic Program: The university's academic program is composed of instructional, research and public service activities. The university provides baccalaureate, masters, and doctoral degrees. In academic year 2010-11 it enrolled 10,678 degree students and 3,179 continuing education students. The university research and public service activities enable faculty to explore new areas of education, learning and knowledge and provides non-instructional services to individuals and groups external to the university. 81021360 81021360 Scholarship And Financial Aid:The New School seeks to make its education as affordable as possible by offering financial support to students based on financial need, academic achievement, and other qualifications through scholarships and work study programs, which are funded by institutional funds and federal, state and private grants. In academic year 2010-11, 7,978 students received institutional scholarships and 8,973 students received at least one form of institutional or public scholarships, grants, loans, or work study awards. 78513966 Educational Support: The university's educational support program is composed of academic support and student services. Academic support provide support services, such as libraries, academic technology, faculty and curriculum development, for its primary missions of instruction, research and public service. Student services provide various services to students, which contribute to the students' emotional and physical well-being and to their intellectual, cultural, and social development outside the context of the university formal instructional programs. 25981824 28298587 Auxiliary revenue for room and board and health services. 25981824 28298587 306203851 1 1 0 1 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 1 0 0 1 11214 0 1 6843 1 1 1 1 GM 0 0 0 1 1 0 0 0 0 X 52 48 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Frank Barletta Senior Vice Preside 2122295600 66 West 12th Street New York NY 10011 Arnold H Aronson 1.00 X 0 0 0 Bernard L Schwartz 1.00 X 0 0 0 Beth Rudin DeWoody 1.00 X 0 0 0 Bevis Longstreth 1.00 X 0 0 0 Cheryl Cohen Effron 1.00 X 0 0 0 David B Ford 1.00 X 0 0 0 Douglas D Durst 1.00 X 0 0 0 Elliot Stein 1.00 X 0 0 0 Eugene M Lang 1.00 X 0 0 0 Franci J Blassberg 1.00 X 0 0 0 George Walker 1.00 X 0 0 0 Henry H Arnhold 1.00 X 0 0 0 Jane D Hartley 1.00 X 0 0 0 John L Tishman 1.00 X 0 0 0 Jonathan Newcomb 1.00 X 0 0 0 Joshua Sapan 1.00 X 0 0 0 Julien J Studley 1.00 X 0 0 0 Kent A Clark 1.00 X 0 0 0 Lauren M Tyler 1.00 X 0 0 0 Leo Hindery Jr 1.00 X 0 0 0 Lilian Shiao-Yen Wu 1.00 X 0 0 0 Linda E Rappaport 1.00 X 0 0 0 Malcolm B Smith 1.00 X 0 0 0 Marylin L Prince 1.00 X 0 0 0 Michael E Gellert 1.00 X 0 0 0 Michael J Johnston 1.00 X 0 0 0 Lee Slaughter 1.00 X 0 0 0 Nancy Garvey 1.00 X 0 0 0 Nancy Walker 1.00 X 0 0 0 Nancy Lublin 1.00 X 0 0 0 Paul A Gould 1.00 X 0 0 0 Philip Scaturro 1.00 X 0 0 0 Richard L Kauffman 1.00 X 0 0 0 Robert Millard 1.00 X 0 0 0 Robert E Denham 1.00 X 0 0 0 Robert R Hoerle 1.00 X 0 0 0 Robert H Mundheim 1.00 X 0 0 0 Sally Susman 1.00 X 0 0 0 Sheila C Johnson 1.00 X 0 0 0 Steven H Bloom 1.00 X 0 0 0 Susan L Foote 1.00 X 0 0 0 Susan M Lyne 1.00 X 0 0 0 Susan U Halpern 1.00 X 0 0 0 Walter A Eberstadt 1.00 X 0 0 0 William D Zabel 1.00 X 0 0 0 William E Havemeyer 1.00 X 0 0 0 William H Hayden 1.00 X 0 0 0 William J Snipes 1.00 X 0 0 0 Randall S Yanker 1.00 X 0 0 0 J Robert Kerrey 40.00 X X 2494535 0 553168 Jeffrey Gural 1.00 X 0 0 0 Renaud Detreil 1.00 X 0 0 0 Kay Unger 1.00 X 0 0 0 Joseph R Gromek 1.00 X 0 0 0 Timothy L Porter 1.00 X 0 0 0 David Van Zandt 40.00 X X 0 0 0 James Murtha 40.00 X 484642 0 166216 Tim Marshall 40.00 X 466273 0 44322 Frank Barletta 40.00 X 281095 0 34839 Carol Cantrell 40.00 X 256572 0 45385 Shelley Reed 40.00 X 277334 0 45525 Mary Sanger 40.00 X 287583 0 47779 Craig Becker 40.00 X 230035 0 45711 Lia Gartner 40.00 X 241450 0 39364 Robert Gay 40.00 X 259831 0 48739 Ben Lee 40.00 X 533886 0 39242 Nancy Martin 40.00 X 249643 0 44929 Roy Moskowitz 40.00 X 264228 0 45921 Doris Suarez 40.00 X 256180 0 38591 Linda Reimer 40.00 X 250770 0 45251 Pamela Besnard 40.00 X 150447 0 17101 Linda Dunne 40.00 X 253319 0 39921 Neil Gordon 40.00 X 246441 0 28769 Joel Lester 40.00 X 233560 0 42998 Robert Lupone 40.00 X 215281 0 35169 Michael Schober 40.00 X 233892 0 29260 Lisa Servon 40.00 X 263745 0 26500 Joel Towers 40.00 X 274686 0 42100 Simon Collins 40.00 X 215828 0 21500 Paul Goldberger 40.00 X 203730 0 41450 Ann Stoler 40.00 X 259555 0 40048 Theresa Ghilarducci 40.00 X 214391 0 22260 William Morrish 40.00 X 217138 0 40489 Greggory Spence - Current Professor 40.00 X 156265 0 19993 9972335 0 1732540 179 1 1 0 Skidmore Owings & Merrill LLP 14 Wall Street New York NY 10005 Architectural Service 3734262 TNS Developer LLC One Bryant Park New York NY 10036 Construction Mgmt. 1905239 Hogan Lovells US LLP 555 13th St NW Washington DC 20004 Legal Services 615004 Engine LLC 116 W Eastman Arlington Heights IL 60004 Consulting Services 557269 New York Metropolitan Reference & Resear 57 East 11th Street New York NY 10003 Database Subscription 373416 52 1684613 5225 8253721 20335845 240786 30279404 Tuition & fees 900099 318735359 318735359 Auxiliary Enterprise R 900099 28298587 28298587 Service of Education D 900099 472009 472009 347505955 4326899 -77081 4403980 2299450 2299450 2299450 2299450 254633432 251165784 3467648 3467648 3467648 136920 1684613 452565 -315645 -315645 Indirect Cost Recovery 900099 842421 842421 Commissions 900099 152589 152589 Miscellaneous Revenue 900099 51256 51256 1046266 388609977 347505955 -77081 10901699 81021360 81021360 11068050 4020621 6416756 630673 137924104 118532230 16732173 2659701 12751291 10488519 1981170 281602 24229362 13983460 9615182 630720 10435434 8583621 1621355 230458 966270 19022 947248 168600 168600 842150 842150 586525 586525 5543379 3183020 2346524 13835 3801932 159153 3631813 10966 9622046 5173962 4282951 165133 2628040 1206598 1421220 222 117202 93475 23727 37351186 32251670 5084494 15022 4041600 3543415 434118 64067 376950 324982 45794 6174 7057532 5593431 1438455 25646 12724318 9909793 2777181 37344 1154788 39140 1115648 Bad Debt Expense 7280678 7280678 Library 2882997 2868571 14426 Food Services 2583887 2189074 256099 138714 Printing & Publications 1858511 1056204 619462 182845 Honoraria and Fees 988116 976917 11199 1925765 985613 929039 11113 381932073 306203851 70623987 5104235 1143375 1577703 1344611 855925 42079448 38863430 9943037 12069535 4946374 4582442 10551541 16557120 375943985 102404555 236273131 273539430 202840024 203391907 82716759 105876349 6975170 284527271 598813470 941841112 39886584 54757215 11270470 11345821 147976672 440258006 3851999 3774037 202985725 510135079 X 228796970 237910387 95354167 119590514 71676608 74205132 395827745 431706033 598813470 941841112 X 6677904 29200384 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 842150 842150 0 Explanation of Other Lobbying Activities: Part II-B, Line 1i: The expenses were incurred for the purpose of government relations activities with The City of New York, State of New York, and Federal Government; lobbying activities in support of higher education issues and legislation; and to assist in procuring appropriations and grants. X 0 188168547 4087531 34861283 3605236 6528003 216984122 179373610 1144433 18229335 3788026 6790805 188168547 219174978 3760680 -32565876 3842743 7153429 179373610 0.47000 0.53000 0 0 52913686 52913686 191296614 78331999 112964615 55532820 14296568 41236252 15408207 9775988 5632219 60792658 60792658 273539430 Investments- Hedge Funds 58692361 F Investments- Private Equity 17817750 F Investments- Real Assets 29366238 F 105876349 Funds Held by Bond Trustees 284527271 284527271 Federal Student Loan Advances Perkins 3774037 3774037 388609977 381932073 6677904 30096011 -975000 79373 29200384 35878288 337630041 30096011 531938 30627949 307002092 586525 81021360 81607885 388609977 301751753 975000 452565 1427565 300324188 586525 81021360 81607885 381932073 Part III, Line 1a: The university's art collection consists of works of art, including prints, paintings, photographs, and sculptures that are held for the purposes of public exhibition, education, and research. Each of the items is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed by the university's curators under the supervision of the Trustee Art Committee. The art collection, which was acquired through purchases and contributions since the university's inception, is not recognized as an asset in the balance sheet. Purchases of collection items are recorded as expenses and contributed collection items are not reported as contributions. Proceeds from sales are reflected as increases in unrestricted net assets. Part III, Line 4: The mission of The New School Art Collection, in recognition of its historic commitment to art as a vehicle for sociopolitical change, is to advance the importance of art as an agent for personal and collective transformation. As a curricular resource for all areas of study, the role of the collection is to conserve, interpret, and present works of art to the students, faculty, and greater community. New acquisitions support the vision of the university as an environment for innovative thinking and artistic experimentation. The university's legacy of supporting the freedom of artistic expression began in 1931 with the commissioning of two historically significant mural cycles: Jose Clemente Orozco's A Call for Revolution and Universal Brotherhood and Thomas Hart Benton's epic America Today. Over the years, the university has hosted a roster of accomplished artists, writers, dancers, designers, historians, social scientists, and philosophers, creating a flourishing laboratory for experimentation and innovation. As an institution that embraced such diverse figures as poet Robert Frost, anthropologist Margaret Meade, art historian Meyer Schapiro, and composer/conceptual artist John Cage, The New School has always stood at the forefront of self-discovery and visionary social, intellectual, and aesthetic experimentation. The New School Art Collection was established in 1960 with a grant from the Albert A. List Foundation. The collection, grown to approximately 1,800 postwar and contemporary works of art, includes examples in almost all media by some of the most innovative and creative artists of our time. Installed throughout the university campus and transforming the public spaces into lively forums for examining contemporary art, the collection offers students and faculty a rare opportunity to engage with art on a daily basis, making it a distinctive component of their educational experience. The collection has continued its tradition of incorporating site-specific works into its public spaces. Description of Uncertain Tax Positions Under FIN 48: Part X: The university is exempt from federal income tax pursuant to section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for federal income tax has been recorded in the accompanying financial statement. The university is also exempt from New York income taxes under the related state provision. Management believes that the university will continue to be exempt from taxes and that the university has taken no significant uncertain tax positions. Donations to the university qualify for deduction as charitable contributions. Part XI, Line 8 - Other Adjustments: Change in Value of Split Interest - $56,046 Change in Postretirement Benefits - $23,327 Part XII, Line 2d - Other Adjustments: Change in Value of Split Interest - $56,046 Change in Postretirement benefits - $23,327 Special Event Expenses Reported on Form 990, Part VIII, Line 8B - $452,565 Part XII, Line 4b - Other Adjustments: Scholarship Expenses Netted Against Revenue - $81,021,360 Part XIII, Line 2d - Other Adjustments: Special Event Expenses Reported on Form 990, Part VIII, Line 8B - $452,565 Part XIII, Line 4b - Other Adjustments: Scholarship Expenses Netted Against Revenue - $81,021,360 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 A general statement of non-discrimination is included in all advertisement and other printed media relating to the recruitment of students and employees. Form 990, Schedule E, Line 6 The university receives various forms of financial aid from the government support financial assistance provided to the students. The types of government assistance the university receives include the following: Federal Pell Grant Federal Supplemental Opportunity Grant (SEOG) Federal Academic Competitiveness Grant (ACG) Federal Perkins Loan Federal Family Education Loan Program (FFELP) (including Stafford and Parent PLUS Loans) Federal Direct Loan program Federal Work Study Program New York State Tuition Assistance Program (TAP) New York State Aid for Part-Time Study (APTS) New York State Higher Education Opportunity Program (HEOP) New York State Bundy Aid Appropriation The public agencies that support the university research activities are: National Science Foundation Department of Health and Human Services United States Department of Energy United States Department of Education United States Department of Defense The National Endowment for the Arts Europe (Including Iceland & Greenland) - 0 0 Investments Investments in foreign partnerships and securities 43377244 Central America and the Caribbean - 0 0 Investments Investments in foreign partnerships and securities 51868828 0 0 0 0 0 0 95246072 0 95246072 1 0 1 1 1 0 Parson's fashion show 1067058 977338 89720 115435 71983 184955 LaGuardia dinner 754475 707275 47200 54417 25775 1821533 1684613 136920 115435 126400 210730 452565 -315645 1 The New School Institutional Scholarship Program 7978 73003453 Federal Student Aid Grants 1983 8017907 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Grants and other assistance awarded to individuals in the U.S. represent student financial aid. Student financial aid awards are determined by the university's assessment of academic achievement, financial need and other similar standards. Student Financial Services continuously monitors student eligibility for these awards. Student Financial Services is responsible for regulatory compliance. Student Financial Services ensures equity by applying all need analysis formulas consistently across the institution's population of student financial aid applicants and provides services that do not discriminate on the basis of race, gender ethnicity, sexual orientation, religion, disability, age, or economic status. Other Information: Part IV: The university receives various forms of financial aid from the government support financial assistance provided to the students. The types of government assistance the university receives include the following: Federal Pell Grant Federal Supplemental Opportunity Grant (SEOG) Federal Academic Competitiveness Grant (ACG) Federal Perkins Loan Federal Family Education Loan Program (FFELP) (including Stafford and Parent PLUS Loans) Federal Direct Loan Program Federal Work Study Program New York State Tuition Assistance Program (TAP) New York State Aid for Part-Time Study (APTS) New York State Higher Education Opportunity Program (HEOP) New York State Bundy Aid Appropriation The university receives government funding to support its organized research programs. These governmental grants help to further the university's mission by supporting organized research efforts in the areas of education, training, and public services. The public agencies that support the university's research activities are: National Science Foundation Department of Health and Human Services United States Department of Energy United States Department of Education United States Department of Defense The National Endowment for the Arts X X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 J Robert Kerrey 602593 0 1200000 0 691942 0 132877 0 420291 0 3047703 0 621461 0 James Murtha 463252 0 0 0 21390 0 46800 0 119416 0 650858 0 0 0 Tim Marshall 386273 0 0 0 80000 0 38462 0 5860 0 510595 0 0 0 Frank Barletta 277507 0 0 0 3588 0 28088 0 6751 0 315934 0 0 0 Carol Cantrell 256572 0 0 0 0 0 26208 0 19177 0 301957 0 0 0 Shelley Reed 277334 0 0 0 0 0 28088 0 17437 0 322859 0 0 0 Mary Sanger 270352 0 0 0 17231 0 27508 0 20271 0 335362 0 0 0 Craig Becker 230035 0 0 0 0 0 24000 0 21711 0 275746 0 0 0 Lia Gartner 240762 0 0 0 688 0 24943 0 14421 0 280814 0 0 0 Robert Gay 259831 0 0 0 0 0 27040 0 21699 0 308570 0 0 0 Ben Lee 448886 0 0 0 85000 0 24500 0 14742 0 573128 0 0 0 Nancy Martin 249643 0 0 0 0 0 25700 0 19229 0 294572 0 0 0 Roy Moskowitz 244228 0 0 0 20000 0 25300 0 20621 0 310149 0 0 0 Doris Suarez 256180 0 0 0 0 0 26208 0 12383 0 294771 0 0 0 Linda Reimer 250770 0 0 0 0 0 25830 0 19421 0 296021 0 0 0 Pamela Besnard 130447 0 0 0 20000 0 11000 0 6101 0 167548 0 0 0 Linda Dunne 253319 0 0 0 0 0 24500 0 15421 0 293240 0 0 0 Neil Gordon 224305 0 0 0 22136 0 22500 0 6269 0 275210 0 0 0 Joel Lester 233560 0 0 0 0 0 23577 0 19421 0 276558 0 0 0 Robert Lupone 205281 0 0 0 10000 0 20748 0 14421 0 250450 0 0 0 Michael Schober 233892 0 0 0 0 0 23400 0 5860 0 263152 0 0 0 Lisa Servon 250451 0 0 0 13294 0 24500 0 2000 0 290245 0 0 0 Joel Towers 261224 0 0 0 13462 0 26523 0 15577 0 316786 0 0 0 Simon Collins 215328 0 500 0 0 0 21500 0 0 0 237328 0 0 0 Paul Goldberger 203230 0 500 0 0 0 21129 0 20321 0 245180 0 0 0 Ann Stoler 199055 0 500 0 60000 0 20627 0 19421 0 299603 0 0 0 Theresa Ghilarducci 213891 0 500 0 0 0 16400 0 5860 0 236651 0 0 0 William Morrish 191638 0 500 0 25000 0 20000 0 20489 0 257627 0 0 0 Greggory Spence - Current Professor 127292 0 500 0 28473 0 12813 0 7180 0 176258 0 0 0 Part I, Line 1a Campus housing was provided to J. Robert Kerrey as a condition of employment for the convenience of the university. Mr. Kerrey's compensation includes $417,970 for housing and personal services (such as utilities and property upkeep). This amount is included in Schedule J-1 Part II Column D. Campus housing was provided to James Murtha as a condition of employment for the convenience of the university. Mr. Murtha's compensation includes $100,159 for housing and personal services (such as utilities and property upkeep). This amount is included in Schedule J-1 Part II Column D. Per contractual agreement, the following individuals received a housing allowance: Ben Lee $85,000 Timothy Marshall $80,000 William Morrish $25,000 Mary Sanger $17,231 Ann Stoler $60,000 Joel Towers $13,462 First class travel is sometimes authorized by the President where circumstances (i.e. destination) make this accommodation appropriate. Travel expenses for the President are reviewed by the CFO. The President reviews Deans and Officers travel expenses. Part I, Line 4b Contributions to the supplemental nonqualified retirement plan had been provided to the following individuals and reported in part II Column C: J. Robert Kerrey- $108,377 James Murtha- $22,300 Shelley Reed- $3,588 Carol Cantrell- $1,708 Linda Reimer- $1,330 Doris Suarez- $1,708 Lia Gartner- $688 Tim Marshall- $13,962 Joel Towers- $2,023 Nancy Martin- $1,200 Roy Moskowitz- $800 Part II, Column (f): Mr. Kerrey received $621,461 as the portion of his 457(f) plan that became vested in this calendar year. This amount is reflected in both column B (iii) and in column (f). Column (f) represents compensation reported in prior 990 forms. Therefore, as this amount is also included in column (e), the annual compensation reported in column (e) represents a double reporting of the deferred compensation previously reported along with the actual amount earned during the calendar year reporting period. The actual amount can be calculated by subtracting column (f) from column (e). Contributions to 457(f) awarded during the calendar year reporting period but subject to vesting are included as deferred compensation in column (c). Supplemental Information Part III Part II, Column B (ii) - J Robert Kerrey received a retention bonus per contractual agreement in the amount of $1.2 million in the calendar year ended 2010. Part III - Additional Information J Robert Kerrey became President Emeritus as of December 31, 2010 David Van Zandt became President of the university on January 1, 2011 Pamela Besnard - Newly Hired July, 2010 Greggory Spence - Former Vice President & General Counsel, current professor Dormitory Authority of the State of New York 146000293 64983QFY0 2005-06-16 22710746 Refunds Series 1994a Dated: 09/13/1994 0 0 0 Dormitory Authority of the State of New York 146000293 64983Q6U8 2006-11-21 72763601 Acquisition of 300 West 20th Street 0 0 0 Dormitory Authority of the State of New York 146000293 6499055W2 2010-12-08 295923149 University Center Construction 0 0 0 3680000 21870000 21837102 600644 273000 2005 1 1 1 1 2580000 77043601 772865 1134000 70856735 2009 0 0 1 1 301055000 42299370 5628715 1240074 50651000 196103990 2013 0 0 0 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Schedule K Supplental Information For Bond A issued 6/16/2005, the difference between the amount of Part I, Line A (E) and Part II, Line 3 (a) is the net original issue premium. For Bond B issued 11/21/2006, the difference between the amount of Part I, Line B (E) and Part II, Line 3 (b) is the net original issue premium. For Bond C issued 12/08/2010, the difference between the amount of Part I, Line C (E) and Part II, Line 3 (c) is the net original issue discount. Durst Corporation (TNS Developer LLC) - Douglas D Durst Entity owned by Douglas D. Durst, a trustee of the university 1809067 Building representation/developer 0 Tishman Construction - John L Tishman Entity owned by Family Member of John Tishman, a trustee of the university 551221 Construction management 0 JP Morgan ChaseWilliam Hayden Mr. Hayden, a managing director at JPMChase is a trustee of the university 730924 JPMorgan Chase was the senior underwriter for a debt offering 0 RELATED PARTY TRANSACTIONS Members of the university's Board of Trustees and senior management may, from time to time, be associated, either directly or indirectly, with companies doing business with the university. The university's conflict of interest policy requires, among other things, that no member of the board of trustees or its committees can participate in any decision in which he or she (or an immediate family member) has a material financial interest. For members of the Board of Trustees and senior management, the university requires an annual disclosure of significant financial interests in, or employment or consulting relationships with, entities doing business with the university. When such relationships exist, measures are taken to address the actual or perceived conflict to protect the best interests of the university and ensure compliance with relevant conflict of interest laws.During fiscal 2010, the Board of Trustees approved the engagement of two service firms, associated with trustees, in connection with the construction of a new University Center. Consistent with the policy discussed above, the decision to engage each of the firms was based on a review and discussion without participation of the interested trustees, with the assistance or real estate consultants and outside counsel, and a determination that such engagement was in the best interest and provided substantial benefit to the university. Total amounts paid to the two firms during fiscal years 2011 and 2010 were $2.4 and 4.1 million respectively.During fiscal 2011, the university engaged an investment banking firm associated with a trustee to assist with the issuance of tax exempt debt. The firm was selected on the basis of a competitive bidding process. Its selection was deemed at arms length and in the best interest of the university. Total amount paid to this firm was $731,000 in fiscal 2011. X 4 0 X 16 230314 Fair Market Value X Sewing Machine 1 2972 Fair Market Value X Piano 1 7500 Fair Market Value 0 0 1 1 Third Party Use: Part I, Line 32b: JPMorgan Chase is the custodian of all stock contributions and facilitates the dispositions of such investments. Non Reporting of Revenue: Part I, Line 33: The university elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of art/ historical treasures. Please see Schedule D, Part III, Line 1a And Part XIV, Supplemental Information. Organization's Mission: FORM 990, PART I, LINE 1: To educate those who want to: pursue learning in a free and creative environment for their self-improvement; advance their professions; and, improve the city and world in which they live. Organization's Mission: FORM 990, PART III, LINE 1: The New School's mission is to educate women and men, from all walks of life and all parts of the globe, who want to pursue learning in a free and creative association unconstrained by conventional boundaries, for their own self-improvement, the advancement of their professions, and the improvement of the city and world in which they live. The New School is a progressive university in the heart of Greenwich Village, New York City. The university prepares and inspires its 10,678 undergraduate and graduate students, and more than 3,000 continuing education students to bring positive change to the world. In addition to its 88 graduate and undergraduate degree-granting programs, the university offers certificate programs and more than 650 continuing education courses. The New School (the university) was founded in 1919 by a group of scholars, journalists, and civic leaders who imagined an educational venue where they could freely discuss their ideas, and where dialogue could take place between intellectuals and the public. Originally devoted to exploring the pressing social, political, and economic problems of the day, the new school has since expanded its focus to embrace the arts and culture. Today the university offers bachelors and masters programs in the visual and performing arts in addition to bachelors, masters, doctorate and certificate programs in the liberal arts, social sciences, and management and urban policy. The New School is an independent, nonprofit, coeducational institution of higher education. Seven schools comprise the university, each with its own history and program offerings. The seven schools are: The New School for Public Engagement; The New School for Social Research; Parsons The New School for Design; Eugene Lang College The New School for Liberal Arts; Mannes College The New School for Music; The New School for Drama; and The New School for Jazz and Contemporary Music. The main campus is located in Greenwich Village in the City of New York, along with other locations in Manhattan. The university is accredited by the Middle States Association of Colleges and Schools. The university derives its revenues principally from student tuition and fees, government appropriations, grants and contracts, gifts, and investment earnings. Additional support is generated through auxiliary activities carried out by the university, such as dining services, student health services, and residence facilities. The university spends these resources to meet its instructional and educational mission. Form 990, Part VI, Section A, line 2 During the year ended June 30, 2011: George Walker and Nancy Walker had a family relationship Robert Mundheim and Linda Rappaport had a business relationship Form 990, Part VI, Section B, line 11 990 Review Process: The Audit and Risk Committee of the Board of Trustees has been delegated responsibility for reviewing the annual 990 form. Following the Audit and Risk Committee review, the 990 is distributed to the full Board of Trustees prior to its submission. Form 990, Part VI, Section B, line 12c Conflict of Interest Process: Members of the university's Board of Trustees and senior management may, from time to time, be associated, either directly or indirectly, with companies doing business with the university. The university's conflict of interest policy requires, among other things, that no member of the Board of Trustees or its committees can participate in any decisions in which he or she (or an immediate family member) has a material financial interest. For members of the Board of Trustees and senior management, the university requires an annual disclosure of significant financial interest in, or employment of consulting relationships with, entities doing business with the university. When such relationships exist, measures are taken to address the actual or perceived conflict to protect the best interest of the university and ensure compliance with relevant conflict of interest laws. Form 990, Part VI, Section B, line 15 Compensation Review Process: The Administrative Affairs Committee of the Board of Trustees reviews the compensation of the president, provost, vice presidents, other senior management and key employees. The Administrative Affairs Committee reviews compensation for all employees earning $100,000 or greater on an annual basis. A memorandum from the president outlining his recommendations for merit, retention or promotion increases is provided to the committee with comparability statistics as appropriate. The Administrative Affairs Committee approves or adjusts the president's recommendations. In executive session, the Administrative Affairs Committee determines the president's salary using available market information. During the year, the committee is advised and approves hiring arrangements associated with recruiting individuals earning over $125,000; the committee also approves promotions of highly compensated individuals earning over $125,000. A compensation consultant regularly reviews the total compensation for top executives including; the president, provost, vice presidents and deans and directors. A review of the highest paid professors is included in this analysis. Periodically, the university's executive compensation process is reviewed by the Audit and Risk Committee of the Board of Trustees. COMPENSATION REVIEW PROCESS OFFICERS AND KEY EMPLOYEES: As noted above, the Administrativd Affairs Committee of the Board of Trustees reviews compensation for all employees earning $100,000 or greater on an annual basis. A memorandum from the president outlining his recommendations for merit, retention or promotion increases is provided to the committee with comparability statistics as appropriate. Form 990, Part VI, Section C, line 19 Public Inspection The university makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Also, the federal Form 990, which includes financial and other disclosures, is available on Guidestar. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 30,096,011. Donated services and use of facilities: -975,000. Change in Value of Split Interest - $56,046 56,046. Change in Postretirement Benefits - $23,327 23,327. Total to Form 990, Part XI, Line 5: 29,200,384. Freunde Und Forderer Von the New School c/o HH LLP 1 Potsdamer Platz 1 Berlin Germany GM FACILITATE CONTRIBUTIONS GM The New School 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Freunde Und Forderer Von the New School C 5225 Cash