2011-06-27T13:41:51-04:00 2010-08-31 990 2009-09-01 111630906 Hofstra University HOFS 5164636820 128 Hofstra University 100E Phillips Hall Hempstead NY 11549 Catherine Hennessy 2011-06-27 2009 2016-02-24 21:20:13Z STUART RABINOWITZ PRESIDENT Hofstra University Hempstead NY 11549 543956368 false X www.hofstra.edu X 1935 NY INSTITUTION OF HIGHER LEARNING 26 26 7308 150 1338164 0 29920469 29874337 381600180 388456015 3085296 14817373 451228 67781 415057173 433215506 61007315 70197645 0 0 230626845 236629436 0 0 4503182 103288664 97713469 394922824 404540550 20134349 28674956 711283697 728654925 359142400 340884664 352141297 387770261 INSTITUTION OF HIGHER LEARNING false false 298660841 70197645 349180075 Instruction and related academic support, including research and public services, sponsored programs and scholarships and fellowships. (approximately 10,777 full-time equivalents) 37850824 39275940 Auxiliary enterprises, including residence halls and food service. (approximately 3,629 students in residence halls) 336511665 true true false true true false true false true true true false true false true false false false true true false false true true true false false false false false false false false false false true true false false false false false false false true 982 0 true 7308 true true true false false false false true true false false false 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 FINANCE 5164636820 HOFSTRA UNIVERSITY Hempstead NY 115491280 Stuart Rabinowitz 60.0 X X 802842 0 58409 Alan J Bernon X 0 0 0 Tejinder Bindra X 0 0 0 Mr Robert F Dall X 0 0 0 Mrs Helene Fortunoff X 0 0 0 Martin B Greenberg X 0 0 0 Mr Joseph M Gregory X 0 0 0 Dr Leo A Guthart X 0 0 0 Mr Peter S Kalikow X 0 0 0 Ms Abby Kenigsberg X 0 0 0 Arthur J Kremer Esq X 0 0 0 Mrs Karen L Lutz X 0 0 0 Mr David S Mack X 0 0 0 Janis M Meyer Esq X 0 0 0 Mr John D Miller X 0 0 0 Marilyn B Monter X 0 0 0 Ms Martha S Pope X 0 0 0 James E Quinn X 0 0 0 Mr Edwin C Reed X 0 0 0 Robert Rosenthal X 0 0 0 Mr Frank G Zarb X 0 0 0 Donna M Mendes X 0 0 0 George W Bilicic Jr X 0 0 0 Debra A Sandler X 0 0 0 Thomas J Sanzone X 0 0 0 Joseph Sparacio X 0 0 0 Peter G Schiff X 0 0 0 M Patricia Adamski 60.0 X 404738 0 58409 Herman A Berliner 60.0 X 391355 0 58409 Melissa Connolly 60.0 X 218567 0 36803 Dolores Fredrich 60.0 X 388033 0 43156 Richard V Guardino Jr 60.0 X 235192 0 26359 Catherine Hennessy 60.0 X 426349 0 48700 Sandra Johnson 60.0 X 253300 0 23986 Robert W Juckiewicz 60.0 X 293052 0 48523 Alan Kelly 60.0 X 264039 0 35444 Joseph Barkwill 60.0 X 229242 0 33284 Jessica Eads 60.0 X 207589 0 37717 Salvatore F Sodano 60.0 X 333370 0 23542 Lawrence Smith 60.0 X 536466 0 17743 Thomas Pecora 60.0 X 381037 0 43157 Nora Demleitner 60.0 X 374246 0 38319 David Burghardt 60.0 X 323761 0 50408 Holly Seirup X 131002 0 33016 6194180 0 715384 463 true true false Structure Tone Inc 770 Broadway NEW YORK NY 10003 Construction 7608661 Lehr Construction Corp 902 Broadway NEW YORK NY 10010 Construction 2319596 Veterans Transportation Co Inc PO Box 219 VALLEY STEAM NY 11582 Transportation Svcs 932593 Jeca Associates Inc 23 Knight Road WAYNE NJ 07470 Construction 623955 HLW International LLP 115 Fifth Avenue 5th Floor NEW YORK NY 10003 Architectural Serv 539715 156 924144 19267968 9682225 584921 29874337 TUITION & FEES 611600 335617147 335617147 SALES& SVC AUX ENT 812900 39275940 37966485 1309455 SALES& SVC ED DPT 900099 2691396 2691396 OTHER SOURCE ED SV 900099 10871532 10871532 388456015 7332872 28709 7304163 0 0 532374 230212 302162 302162 302162 117374100 109889599 7484501 7484501 7484501 367775 924144 610626 -242851 -267161 18895 10425 8470 8450 0 0 433215506 387146560 1338164 14832115 0 70197645 70197645 0 0 4805164 1002060 3498368 304736 0 173834033 149562122 22092640 2179271 14962559 12919966 1881913 160680 31320346 24046664 6868489 405193 11707334 10105820 1461367 140147 0 578952 98290 480662 263000 263000 124343 124343 0 2072638 2072638 3029196 1887867 1140620 709 3402258 643691 2752517 6050 23365329 20333208 2461476 570645 5510380 2874578 2635802 0 11682271 11042041 609217 31013 9986969 9086700 319534 580735 0 384397 279688 103298 1411 7891332 7426814 464518 0 17360355 11869578 5490777 4367777 192920 4174857 BAD DEBT AND COLLECTION COST 3117742 295506 2822236 CREDIT CARD FEES 187924 132073 55851 GRANTS - SUBRECIPIENT COSTS 334173 334173 GRANTS - INDIRECT COSTS 755216 755216 GRANTS - PARTICIPANT COSTS 82942 82942 3216275 1342123 1751560 122592 404540530 336511665 63525683 4503182 101551351 78734129 23249091 29039576 6955327 8082260 6197026 5517169 264590 284908 3693291 3555585 508737422 245358276 257309403 263379146 156704732 203696622 141007361 132388936 4641442 3976594 711283697 728654925 15774718 17076744 96459653 91630250 156205389 145447951 3199313 3025279 87503327 83704440 359142400 340884664 X 243201966 276117092 18056552 15944866 90882779 95708303 352141297 387770261 711283697 728654925 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true false true 124343 true 5124 true false 129467 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 10.6% of its operating budget relates to lobbying activities. For the year, the portion of the dues related to lobbying activities was $6,264. 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 $118,079 to a law firm to assist in procuring federal appropriations and grants and in addressing other federal 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. 11 38120 17717 737001 true true X X X false 206571265 22931193 19722698 3267481 6504413 2046516 237406746 224893981 8344093 -15513460 3413187 6371501 1368661 206571265 0.60240 0.37990 0.01770 false false 13307751 13307751 372411110 155072514 217338596 93598075 73318194 20279881 29420487 16967569 12452918 263379146 ENDOWMENT-EQUITY FUND 66501879 F ENDOWMENT-FIXED INCOME FUND 18026268 F ENDOWMENT-HEDGE FDS/PRIV EQTY 39107611 F ENDOW SPLIT INT-CASH&CASH EQUI 99426 F OTHER-CASH&CASH EQUIV 7915 F ENDOWMENT - REAL ESTATE 6761140 F ENDOWMENT - OTHER 1884697 F 132388936 0 OTHER LIABILITIES 10808265 FUNDS HELD IN CUSTODY 560470 US GOVT GRANTS REFUNDABLE 2973575 LIABILITY FOR POSTRETIREMENT 65517102 ASSET RETIREMENT OBLIGATION 3845028 83704440 433215506 404540530 28674976 8684967 334806 9019773 37694749 370439129 8684967 808939 9493906 360945223 2072638 70197645 72270283 433215506 333079206 808939 808939 332270267 2072638 70197645 72270283 404540550 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 FIN 48 Footnote Part X In 2008, the University adopted Financial Accounting Standards Board (FASB) Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48). FIN 48 prescribes the recognition threshold a tax position must meet in connection with accounting for uncertainty in income taxes recognized in an entity's financial statements. The adoption of FIN 48 had no impact on the University's financial statement. Post Retirement Changes in Net Assets Part XI, Line 8 Post Retirement Changes in Other Than Net Periodic Benefit Costs of $334,806. 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 187,888 Gaming Expenses 10,425 Fundraising Expenses 610,626 -------- Total 808,939 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 $70,197,645 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 187,888 Gaming Expenses 10,425 Fundraising Expenses 610,626 -------- Total 808,939 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 $70,197,645 Donor Advised Funds or Other Similiar 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 11 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 11 funds is $737,001, representing 0.31% of the total endowment value at August 31, 2010. Endowment Funds Schedule D, Part V The University endowment funds are used to support student scholarships and other programs. true true true THE RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED THROUGH NEWSPAPER MEDIA, STUDENT BULLETINS AND WEBSITE. true true true true false false false false false false false false true false THE UNIVERSITY RECEIVES GRANTS FROM GOVERNMENT AGENCIES TO SUPPORT ITS OPERATIONS AND THE RESEARCH ACTIVITIES OF ITS FACULTY. true false Europe (Including Iceland and Greenland) 0 0 Program Services Study Abroad Program 781137 East Asia and the Pacific 0 0 Program Services Study Abroad Program 85115 South America 0 0 Program Services Study Abroad Program 107523 Sub-Saharan Africa 0 0 Program Services Study Abroad Program 39327 Central America and the Caribbean 0 0 Program Services Study Abroad Program 244558 Central America and the Caribbean 0 0 Investments East Asia and the Pacific 0 0 Program Services Recruitment 19019 Middle East and North Africa 0 0 Program Services Recruitment 14118 South America 0 0 Program Services Recruitment 854 Central America and the Caribbean 0 0 Program Services Recruitment 418 0 0 1292069 2010 Gala Ball 662008 535008 127000 174108 67681 13350 14191 Cel of Sub Stud 152210 112260 39950 6822 67904 13 468071 273496 194575 19790 210755 16322 13237 1282289 920764 361525 200720 346340 29672 27428 604160 -242635 18895 90 10335 false 18895 90 10335 10425 8470 NY true false true false 1.00000 James Spero 128 Hofstra University Hempstead NY 11549 false NONE true true Total Student Financial Aid (See breakdown below) 6532 70197645 0 NA NA Athletic Student Financial Aid 327 6351388 0 Undergraduate Student Financial Aid 4672 49978223 0 Graduate Student Financial Aid 1539 13868034 0 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 X true true X X X X X X false false false false false false false false false Stuart Rabinowitz 574934 0 0 0 227908 0 37761 0 20648 0 861251 0 0 M Patricia Adamski 356012 0 0 0 48726 0 37761 0 20648 0 463147 0 0 Herman A Berliner 348975 0 0 0 42380 0 37761 0 20648 0 449764 0 0 Melissa Connolly 209368 0 0 0 9199 0 22145 0 14658 0 255370 0 0 Dolores Fredrich 355097 0 0 0 32936 0 28489 0 14667 0 431189 0 0 Richard V Guardino Jr 222208 0 0 0 12984 0 25181 0 1178 0 261551 0 0 Catherine Hennessy 391401 0 0 0 34948 0 29432 0 19268 0 475049 0 0 Sandra Johnson 241902 0 0 0 11398 0 22258 0 1728 0 277286 0 0 Robert W Juckiewicz 276144 0 0 0 16908 0 28425 0 20098 0 341575 0 0 Alan Kelly 258198 0 0 0 5841 0 22364 0 13080 0 299483 0 0 Joseph Barkwill 219427 0 0 0 9815 0 20204 0 13080 0 262526 0 0 Holly Seirup 76819 0 0 0 54183 0 12810 0 20206 0 164018 0 0 Salvatore F Sodano 297750 0 0 0 35620 0 22364 0 1178 0 356912 0 0 Jessica Eads 194285 0 0 0 13304 0 23072 0 14645 0 245306 0 0 Lawrence Smith 504167 0 0 0 32299 0 16773 0 970 0 554209 0 0 Thomas Pecora 267863 0 0 0 113174 0 28489 0 14668 0 424194 0 0 Nora Demleitner 206470 0 0 0 167776 0 28489 0 9830 0 412565 0 0 David Burghardt 171691 0 0 0 152070 0 29805 0 20603 0 374169 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. Town of Hempstead IDA Series 2003 Bonds 113237317 424674CD9 2003-12-19 41080000 New Academic Bldg and Renovations false false Town of Hempstead IDA Series 2007 Bonds 113237317 424674DN6 2007-05-17 25000000 Grad Dorm and Renovations false false 43871723 0 0 0 814001 0 43057722 2006 false false true true 26082115 0 0 0 613767 0 25468348 2008 false false true true false false false false false true false false false false false true false false false false false false false false false false false false X 77 0 NA X 0 X 0 X 11 584846 FMV of stocks X 7 0 NA X 1 0 NA X Event Supplies 5 0 NA X Gift Card/Certificate 47 0 NA X Computer Equipment 4 0 NA X Tickets 3 0 NA X Furniture and Fixtures 11 0 NA X Arboretum 2 0 NA X Equipment 1 0 NA 7 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 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 each other 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 as deemed appropriate. The Committee assesses and approves the reasonableness of the compensation of the President and other officers on the recommendation of the President and makes recommendations 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.