TOURO COLLEGE & UNIVERSITY SYSTEM INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- TOURO COLLEGE & UNIVERSITY SYSTEM INC (EIN 68-0646771)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2012-05-15
- IRS object ID
- 201241369349302814
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule C
- Schedule D
- Schedule E
- Schedule J
- Schedule N
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-15T10:39:33-05:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PERELSON WEINER LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE DAG HAMMARSKJOLD PLAZA | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 100172286 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 680646771 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TOURO UNIVERSITY COLLEGE OF MEDICINE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | TOUR | NameControl |
| Phone | 2124630400 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 27-33 WEST 23RD STREET | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10010 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RITA NG | Name |
| Title | SENIOR VICE PRESIDENT | Title |
| Phone | 2124630400 | Phone |
| Date Signed | 2012-05-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RONALD G WEINER CPA | Name |
| Phone | 2126053100 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | MELVIN NESS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | C/O TOURO COLLEGE 27-33 WEST 23RD | AddressLine1 |
| Address Line2 | STREET | AddressLine2 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10017 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 25840707 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.TOURO.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2007 | YearFormation |
| State Legal Domicile | NJ | StateLegalDomicile |
| Activity Or Mission Description | TOURO UNIVERSITY COLLEGE OF MEDICINE'S PRIMARY PURPOSE IS TO DEVELOP AN AFFILIATE OF TOURO COLLEGE AND TOURO UNIVERSITY THAT OFFERS A FOUR YEAR PROGRAM LEADING TO A DOCTOR OF MEDICINE AND TO PERFORM MEDICAL RESEARCH. | ActivityOrMissionDescription |
| Termination Or Contraction | X | TerminationOrContraction |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 2750 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2079 | InvestmentIncomePriorYear |
| Investment Income Current Year | -18985452 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 749513 | OtherRevenuePriorYear |
| Other Revenue Current Year | 89783 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 754342 | TotalRevenuePriorYear |
| Total Revenue Current Year | -18895669 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 169130 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1786277 | OtherExpensePriorYear |
| Other Expenses Current Year | 737592 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1955407 | TotalExpensesPriorYear |
| Total Expenses Current Year | 737592 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -1201065 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -19633261 | RevenuesLessExpensesCY |
| Total Assets BOY | 33498569 | TotalAssetsBOY |
| Total Assets EOY | 113823 | TotalAssetsEOY |
| Total Liabilities BOY | 59730603 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 35011739 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -26232034 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -34897916 | NetAssetsOrFundBalancesEOY |
| Mission Description | TOURO UNIVERSITY COLLEGE OF MEDICINE'S PRIMARY PURPOSE IS TO DEVELOP AN AFFILIATE OF TOURO COLLEGE AND TOURO UNIVERSITY THAT OFFERS A FOUR YEAR PROGRAM LEADING TO A DOCTOR OF MEDICINE AND TO PERFORM MEDICAL RESEARCH. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 0 | Expense |
| Grants | 0 | Grants |
| Revenue | 0 | Revenue |
| Description | EFFORTS ARE MADE DURING THE FISCAL YEAR TO DEVELOP AN AFFILIATE OF TOURO COLLEGE AND TOURO UNIVERSITY THAT OFFERS A FOUR YEAR PROGRAM LEADING TO A DOCTOR OF MEDICINE AND TO PERFORM MEDICAL RESEARCH. | Description |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 0 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 1 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 1 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | STUART LIPPMAN CONTROLLER-TOURO CO | NamePerson |
| Telephone Number | 2124630400 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 27-33 WEST 23RD STREET | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10010 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (16 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | FormerFormer |
|---|---|---|---|---|---|---|---|
| ABRAHAM BIDERMAN | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| JACK WEINREB | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| LAWRENCE PLATT | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| MARK HASTEN | |||||||
| CHAIRMAN-BOARD OF TRUSTEES | 0.00 | X | 0 | 0 | 0 | ||
| MARTIN OLINER ESQ | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| MENACHEM GENACK | |||||||
| TRUSTEE | 0.00 | X | 0 | 65567 | 587 | ||
| SOLOMON GOLDFINGER | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| DAVID LICHTENSTEIN | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| STEVE ROSENBERG | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| RABBI DANIEL LANDER | |||||||
| TRUSTEE & VICE PRESIDENT | 0.00 | X | 0 | 178378 | 89127 | ||
| DRBEN CHOUAKE | |||||||
| TRUSTEE | 0.00 | X | 0 | 0 | 0 | ||
| ALAN KADISH | |||||||
| PRESIDENT & TRUSTEE | 1.00 | X | 0 | 496019 | 88195 | X | |
| MELVIN NESS | |||||||
| SENIOR VP | 0.00 | 0 | 254343 | 22048 | X | ||
| FRANKLYN SNITOW | |||||||
| SECRETARY | 0.00 | 0 | 0 | 0 | X | ||
| BERNARD LANDER | |||||||
| FORMER PRESIDENT & TRUSTEE- DECEA | 0.00 | 0 | 110501 | 10725 | X | ||
| PAUL WALLACH | |||||||
| FORMER VICE PRESIDENT OF MEDICAL AFFAIRS | 0.00 | 0 | 238503 | 42363 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 1343311 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 253045 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation
Name Of Contractor NameOfContractor
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ROSEMONT ASSOCIATES LLC | BusinessNameLine1 |
Address Of Contractor AddressOfContractor
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 216 | AddressLine1 |
| City | ROSEMONT | City |
| State | NJ | State |
| ZIP Code | 08556 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Of Services | LOBBYIST | DescriptionOfServices |
| Compensation | 120000 | Compensation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 1 | NumberOfContractorsGT100K |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 924 | TotalRevenueColumn |
| Exclusion | $924 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 25750000 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 44736376 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -18986376 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -18986376 | TotalRevenueColumn |
| Exclusion | -$18,986,376 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | RENTAL INCOME | Description |
| Business Code | 532000 | BusinessCode |
| Total Revenue Column | 89783 | TotalRevenueColumn |
| Exclusion | $89,783 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 89783 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -18895669 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | -$18,895,669 | ExclusionAmount |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 79086 | Total |
| Management And General | 79086 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 120000 | Total |
| Management And General | 120000 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 62421 | Total |
| Management And General | 62421 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8239 | Total |
| Management And General | 8239 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 467021 | Total |
| Management And General | 467021 | ManagementAndGeneral |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PERMIT AND LICENSES | Description |
| Total | 825 | Total |
| Management And General | 825 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 737592 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 737592 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24934 | BOY |
| EOY | 20742 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3060 | BOY |
| EOY | 26667 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2891 | BOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 397397 | BOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4444 | BOY |
| EOY | 66414 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 27541843 | BOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5524000 | BOY |
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33498569 | BOY |
| EOY | 113823 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 923223 | BOY |
| EOY | 460808 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 58807380 | BOY |
| EOY | 34550931 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 59730603 | BOY |
| EOY | 35011739 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -26232034 | BOY |
| EOY | -34897916 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -26232034 | BOY |
| EOY | -34897916 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33498569 | BOY |
| EOY | 113823 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -19633261 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 10967379 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 0 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 0 | GrantsOtherOrganizations |
| Direct Contact Legislators | 1 | DirectContactLegislators |
| Direct Contact Legislators | $120,000 | DirectContactLegislatorsAmount |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 1 | OtherActivities |
| Total Lobbying Expenditures IIB | 120000 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | 0 | NotDescribedIn501c3 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF OTHER LOBBYING ACTIVITIES: | Identifier |
| Return Reference | PART II-B, LINE 1I: | ReturnReference |
| Explanation | THE UNIVERSITY HIRED LOBBYISTS TO ASSIST IN OBTAINING APPROVAL FROM FEDERAL AND STATE AGENCIES TO CREATE MEDICAL SCHOOL AND RELATED FACILITIES IN NEW JERSEY. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | DUE TO AFFILIATES | Description |
| Amount | $34,550,931 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 34550931 | TotalOfAmounts |
| Total Revenue | -18895669 | TotalRevenue |
| Total Expenses | 737592 | TotalExpenses |
| Excess Or Deficit For Year | -19633261 | ExcessOrDeficitForYear |
| Other | $10,967,379 | OtherAmount |
| Total Adjustments | 10967379 | TotalAdjustments |
| Excess Or Deficit Per FS | -8665882 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 90707 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 90707 | RevenueSubtotal |
| Other Revenues Not Included | -18986376 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | -18986376 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | -18895669 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 8756589 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 8018997 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 8018997 | ExpensesNotRptdF990 |
| Expenses Subtotal | 737592 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 737592 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | PART X, LINE 2- ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS. THE COLLEGE BELIEVES THAT IT HAS THE APPROPRIATE SUPPORT FOR TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | LOSSES ON ASSETS SOLD -8,018,997. PRIOR YEAR UNREALIZED LOSS ON IMPAIRMENT OF ASSETS REALIZED THIS YEAR -10,967,379. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | LOSSES ON ASSETS SOLD 8,018,997. | |
| PART XI, LINE 8 - OTHER: PRIOR YEAR UNREALIZED LOSS ON IMPAIREMENT OF ASSETS REALIZED THIS YEAR. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 0 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | Identifier |
| Return Reference | SCHEDULE E, PART I, LINE 3 | ReturnReference |
| Explanation | BROCHURES AND CATALOGS WILL BE DISTRIBUTED TO STUDENTS AND RECRUITMENT ADVERTISEMENTS IN JOURNALS, NEWSPAPERS, TV AND RADIO WILL CONTAIN STATEMENTS WITH RESPECT TO TOURO UNIVERSITY AND COLLEGE'S RACIALLY NONDISCRIMINATORY POLICY. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RABBI DANIEL LANDER | |||||||||||||
| 0 | 178378 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 89127 | 0 | 267505 | 0 | 0 |
| ALAN KADISH | |||||||||||||
| 0 | 496019 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 88195 | 0 | 584214 | 0 | 0 |
| MELVIN NESS | |||||||||||||
| 0 | 254343 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22048 | 0 | 276391 | 0 | 0 |
| BERNARD LANDER | |||||||||||||
| 0 | 110501 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10725 | 0 | 121226 | 0 | 0 |
| PAUL WALLACH | |||||||||||||
| 0 | 238503 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42363 | 0 | 280866 | 0 | 0 |
Schedule N IRS990ScheduleN
Disposition Table DispositionTable (2 entries)
| Description Of AssetDescriptionOfAsset | Date Of DistributionDateOfDistribution | FMV Of AssetFMVOfAsset | Method Of FMV DeterminationMethodOfFMVDetermination | EINEIN | Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | IRC SectionIRCSection |
|---|---|---|---|---|---|---|---|---|---|
| 377 LASALLE GROUP LLC | |||||||||
| LAND AND BUILDING IN HASBROUCK HEIGHTS, NEW JERSEY PREVIOUSLY CLASSIFIED AS ASSETS HELD FOR SALE. | 2011-03-01 | 4750000 | SALES PRICE | 275379041 | 393 ROUTE 17 | SOUTH PARAMUS | NJ | 07652 | LLC |
| HACKENSACK UNIVERSITY MEDICAL CENTER | |||||||||
| JOINT VENTURE INTEREST IN PASCACK VALLEY HOSPITAL PROPERTY | 2011-02-01 | 21000000 | SALES PRICE | 221487576 | 30 PROSPECT AVENUE | HACKENSACK | NJ | 07601 | SEC. 501(C)(3) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Director Of Successor2 | 0 | DirectorOfSuccessor2 |
| Employee Of Successor2 | 0 | EmployeeOfSuccessor2 |
| Owner Of Successor2 | 0 | OwnerOfSuccessor2 |
| Receive Compensation2 | 0 | ReceiveCompensation2 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | TOURO COLLEGE IS THE SOLE MEMBER OF THE FILING ENTITY. | |
| FORM 990, PART VI, SECTION A, LINE 7A | TOURO COLLEGE IS THE SOLE MEMBER OF THE FILING ENTITY. | |
| FORM 990, PART VI, SECTION B, LINE 11 | CONTROLLER, AUDITORS, OFFICERS AND THE BOARD OF THE ORGANIZATION REVIEW FORM 990. | |
| THE ANNUAL BOARD QUESTIONNAIRE, THAT REQUIRES DISCLOSURE OF CONFLICT OF INTEREST AND OTHER DETAILS, IS CIRCULATED TO ALL OF THE BOARD MEMBERS AND IS REVIEWED BY IN-HOUSE COUNSEL. | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE BOARD AND OFFICERS CONSIDER COMPENSATION TRENDS IN THE INDUSTRY, QUALIFICATION AND OTHER MERITS OF THE CANDIDATES IN DECIDING COMPENSATION AND OTHER EMPLOYEE BENEFITS. | FORM 990, PART VI, SECTION B, LINE 15 | |
| THE FORM 990 AND RELATED INFORMATION IS MADE AVAILABLE TO THE PUBLIC, HOWEVER, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE PUBLIC. | FORM 990, PART VI, SECTION C, LINE 19 | |
| HOURS FOR RELATED ORGANIZATION: | RABBI DANIEL LANDER - 8 HOURS PER WEEK AT TOURO COLLEGE AS TRUSTEE AND VICE PRESIDENT AND 27 HOURS PER WEEK AT YESHIVAS OHR HACHAIM. MENACHEM GENACK WORKED FOR 35 HOURS AT YESHIVAS OHR HACHAIM. REMAINING OFFICERS SPENT 35 HOURS PER WEEK AT TOURO COLLEGE. | FORM 990,PART VII, SECTION A, LINE 1A, COLUMN B: |
| CHANGES IN NET ASSETS OR FUND BALANCES: | PRIOR YEAR UNREALIZED LOSSES ON IMPAIRMENT OF ASSETS REALIZED 10,967,379. TOTAL TO FORM 990, PART XI, LINE 5: 10,967,379. | FORM 990, PART XI, LINE 5: |
| FINANCIAL STATEMENTS AND REPORTING: | NO CHANGE IN OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. | FORM 990,PART XII, LINE 2C: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (9 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Controlled OrgControlledOrg | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|---|
| TOURO COLLEGE | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 132676570 | EDUCATION | NY | 501(C)3 | LINE 2 | 0 | |
| TOURO UNIVERSITY - CALIFORNIA | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 133838740 | EDUCATION | CA | 501(C)3 | LINE 2 | 0 | |
| TOURO UNIVERSITY - NEVADA | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 200363127 | EDUCATION | NV | 501(C)3 | LINE 2 | 0 | |
| YESHIVAS OHR HACHAIM | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 112808947 | EDUCATION | NY | 501(C)3 | LINE 2 | 0 | |
| RABBI DOV REVEL YESHIVA OF FOREST HILLS | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 111681674 | EDUCATION | NY | 501(C)3 | LINE 2 | 0 | |
| TOURO COLLEGE FOUNDATION FOR JEWISH STUDIES | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 133639225 | EDUCATION | NY | 501(C)3 | LINE 2 | 0 | |
| NYMC LLC | ||||||||||
| C/O MR MELVIN NESS 27 WEST 23RD ST | NEW YORK | NY | 10010 | 271481147 | TO ASSIST TOURO COLLEGE IN THE PURCHASE OF NYMC | DE | 501(C)3 | LINE 7 | 1 | TOURO COLLEGE |
| NEW YORK MEDICAL COLLEGE | ||||||||||
| 40 SUNSHINE COTTAGE ROAD | VALHALLA | NY | 10595 | 131099420 | EDUCATION | NY | 501(C)3 | LINE 2 | 1 | NYMC LLC |
| THE PARTNER FOR A HEALTHY POPULATION | ||||||||||
| C/O NYMC 40 SUNSHINE COTTAGE ROAD | VALHALLA | NY | 10595 | 134038993 | HEALTH RELATED STUDIES AND EDUCATION | NY | 501(C)(3) | LINE 9 | 1 | NEW YORK MEDICAL COLLEGE |
Form990 Schedule R Part III Form990ScheduleRPartIII
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HUMCTOURO LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19 MAIN ST | AddressLine1 |
| City | HACKENSACK | City |
| State | NJ | State |
| ZIP Code | 07601 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 261844522 | EIN |
| Primary Activity | HOLDING REAL ESTATE | PrimaryActivity |
| Legal Domicile State | NJ | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Predominant Income Type | RENT | PredominantIncomeType |
| Disproportionate Allocations | 0 | DisproportionateAllocations |
| General Or Managing Partner | 0 | GeneralOrManagingPartner |
Form990 Schedule R Part IV Form990ScheduleRPartIV (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Direct Controlling Entity NADirectControllingEntityNA | Type Of EntityTypeOfEntity |
|---|---|---|---|---|---|---|---|---|
| TOURO SPEECH & REHAB | ||||||||
| C/O TOURO COLLEGE 27 WEST 23RD STRE | NEW YORK | NY | 10010 | 134180235 | INACTIVE | NY | N/A | C |
| TOURO FOUNDATION CORPORATION | ||||||||
| C/O TOURO COLLEGE 27 WEST 23RD STRE | NEW YORK | NY | 10010 | 134014618 | INACTIVE | NY | N/A | C |
| TOURO UNIVERSITY FOUNDATION | ||||||||
| C/O TOURO COLLEGE 27 WEST 23RD STRE | NEW YORK | NY | 10010 | 943318585 | INACTIVE | CA | N/A | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 1 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 1 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| TOURO COLLEGE | ||
| D | 35665000 | PRINCIPAL REMAINING ON BONDS |
| TOURO COLLEGE | ||
| Q | 24256449 | CASH TRANSFERRED |
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