2024-05-15T06:18:15-05:00 2023-06-30 135565207 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2022-07-01 131099420 NEW YORK MEDICAL COLLEGE NEWY 9145944470 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ADAM HAMMERMAN VICE PRESIDENT AND CFO 9145944470 2024-05-13 1 ADAM HAMMERMAN XXX-XX-XXXX 0 EVAN W SEEKAMP P01907071 2127589700 2024-05-11 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ADAM HAMMERMAN 40 SUNSHINE COTTAGE RD VALHALLA NY 10595 142741886 0 X WWW.NYMC.EDU X 1860 NY EDUCATE PHYSICIANS, SCIENTISTS, PUBLIC HEALTH SPECIALISTS & OTHER HEALTHCARE PROFESSIONALS. 25 23 995 1547 2095738 668219 5629261 5929337 106690988 104132371 6639160 2388682 4688155 5434754 123647564 117885144 8057542 8605008 0 0 70562022 72993030 176293 179680 2220970 35202020 39526773 113997877 121304491 9649687 -3419347 333105547 328446597 147564910 138677890 185540637 189768707 X NEW YORK MEDICAL COLLEGE (NYMC), A MEMBER OF TOURO UNIVERSITY, IS A HEALTH SCIENCES COLLEGE WHOSE PURPOSE IS TO EDUCATE CLINICAL AND PUBLIC HEALTH PROFESSIONALS AS WELL AS RESEARCHERS, TO CONDUCT BIOMEDICAL AND POPULATION-BASED RESEARCH. THROUGH ITS FACULTY AND AFFILIATED PARTNERS, THE COLLEGE ENGENDERS A DIVERSE AND INCLUSIVE COMMUNITY THAT PROMOTES AN ATMOSPHERE OF EXCELLENCE, SCHOLARSHIP AND PROFESSIONALISM. 0 0 73692354 8605008 87695495 PROFESSIONAL EDUCATION: EDUCATE INDIVIDUALS FOR CAREERS IN MEDICAL, SCIENCE AND HEALTH PROFESSIONS. 11797528 11723783 AFFILIATION AND FACULTY PRACTICE: NYMC FACULTY MEMBERS PROVIDE SUPERVISION, TEACHING AND RELATED ADMINISTRATIVE SERVICES AT WESTCHESTER MEDICAL CENTER AND OTHER METROPOLITAN AREA HOSPITALS IN SUPPORT OF VARIOUS MEDICAL STUDENT RESIDENCY PROGRAMS. 3354906 5630829 AUXILIARY: CAMPUS SERVICES (HOUSING AND DINING) PROVIDED TO THE STUDENTS AND THE NYMC COMMUNITY TO LIVE AND FUNCTION ON CAMPUS. 88844788 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 0 1 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 0 0 1 504 0 1 995 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 23 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AZ AR CA CT DE FL GA HI ID IL IN IA KS LA ME MS MT NE NV NH NJ NY NC OR PA SC SD TX VT VA WV WI WY X ADAM HAMMERMAN 9145944470 40 SUNSHINE COTTAGE ROAD VALHALLA NY 10595 ALAN KADISH PRESIDENT, CEO AND TRUSTEE 11.70 23.30 X X 0 1044121 268885 RABBI MENACHEM GENACK TRUSTEE 0.19 34.81 X 0 84646 3230 ROBERT ALTER TRUSTEE 0.80 0.00 X 0 0 0 GARY BARNETT TRUSTEE 0.10 0.00 X 0 0 0 HOWARD BARUCH TRUSTEE 0.30 0.10 X 0 0 0 BEN CHOUAKE TRUSTEE 0.30 0.70 X 0 0 0 DEE DELBELLO TRUSTEE 0.20 0.00 X 0 0 0 GARY GETTENBERG TRUSTEE 0.10 0.00 X 0 0 0 MUNR KAZMIR TRUSTEE 0.10 0.00 X 0 0 0 MOSHE LICHTENSTEIN TRUSTEE 0.50 0.00 X 0 0 0 JOSEPH MARK CHAIRMAN & TRUSTEE 0.70 0.00 X X 0 0 0 LAWRENCE NESHIWAT TRUSTEE 0.10 0.00 X 0 0 0 STEPHEN J NICHOLAS TRUSTEE 0.10 0.00 X 0 0 0 MARTIN OLINER TRUSTEE 0.27 0.73 X 0 0 0 ELIOT PEYSER TRUSTEE 0.10 0.00 X 0 0 0 RONALD F POE TRUSTEE 0.85 0.00 X 0 0 0 JOSEPH POPACK TRUSTEE 0.20 0.00 X 0 0 0 AMMIR RABADI TRUSTEE 0.10 0.00 X 0 0 0 AVI RETTER TRUSTEE 0.10 0.00 X 0 0 0 STEPHEN ROSENBERG TRUSTEE 0.10 0.90 X 0 0 0 ALAN B ROSENTHAL TRUSTEE 0.10 0.00 X 0 0 0 HENRY SAPHIER TRUSTEE 0.40 0.00 X 0 0 0 JOSEPH SCHWARTZ VICE CHAIR & TRUSTEE 0.30 0.00 X 0 0 0 KENNETH R THEOBALDS TRUSTEE 0.30 0.00 X 0 0 0 RABI R SINHA TRUSTEE - BEG 9/14/22 0.19 0.00 X 0 0 0 EDWARD C HALPERIN CHANCELLOR & CEO 34.80 0.20 X 628684 0 61549 ROBERT W AMLER DEAN SHSP 34.90 0.10 X 415414 0 32440 ADAM HAMMERMAN VICE PRESIDENT & CFO 35.00 0.00 X 284655 0 56210 NICHOLAS JANIGA VP, CHIEF COUNSEL & ASST SEC 34.90 0.10 X 303646 0 72463 MARINA HOLZ DEAN GSBMS 35.00 0.00 X 309885 0 16925 JERRY L NADLER DEAN OF THE SOM - END 2/24/23 34.90 0.10 X 666697 0 46053 MICHAEL NEWMAN SECRETARY, SR. VP AND GEN COUNSEL 3.90 31.10 X 0 328491 38130 SALOMON AMAR VP FOR RESEARCH AFFIARS 15.90 19.10 X 189605 372225 107765 MITCHELL S CAIRO PROFESSOR 35.00 0.00 X 533921 0 60464 MICHAEL S GOLIGORSKY PROFESSOR 35.00 0.00 X 322849 0 64702 LORI SOLOMON CHAIR OF FAMILY & COMMUNITY MEDICINE 14.00 21.00 X 294086 0 72304 JANE PONTERIO SENIOR ASSOICATE DEAN 35.00 0.00 X 303068 0 33200 GERARD M VILLUCCI ADMINISTRATOR 35.00 0.00 X 307028 0 32471 4559538 1829483 966791 178 0 1 1 CONSTELLATION NEWENERGY INC 1310 POINT STREET 8TH FLOOR BALTIMORE MD 21231 ENERGY MANAGEMENT SERVICES 5816560 PAVARINI NORTH EAST CONSTRUCTION COMPANY 30 OAK STREET STAMFORD CT 06905 CONSTRUCTION 5553511 ABLE SERVICES PO BOX 39000 SAN FRANCISCO CA 94139 CLEANING SERVICE 1909637 EPSTEIN BECKER & GREEN PC 125 HIGH STREET STE 2114 BOSTON MA 02110 OUTSIDE COUNSEL 876510 ELSEVIER INC PO BOX 7247-8455 PHILADELPHIA PA 19170 ONLINE LIBRARY SUBSCRIPTION 820861 41 358665 351172 5219500 276173 5929337 TUITION AND FEES 611310 68867374 68867374 RESEARCH AND SPONSORED 611310 17910385 17910385 AFFILIATION FEES 611310 8905170 8905170 AUXILIARY ENTERPRISES 611310 5630829 5630829 FACULTY PRACTICE PLANS 611310 2818613 2818613 104132371 2590362 60525 60924 2468913 6354866 3277900 3076966 3076966 1689972 1386994 21116000 21317680 -201680 -201680 -201680 74644 358665 261162 -186518 -186518 ENERGY REBATES 900099 1342253 1342253 COMPARATIVE MEDICINE 611310 344842 344842 INSURANCE CLAIM 900099 258263 258263 598948 598948 2544306 117885144 105050107 2095738 4809962 652754 652754 7913550 7913550 38704 38704 2881688 1597659 1247861 36168 55855185 46721195 8219194 914796 2655210 2500902 116862 37446 7840066 6204870 1470505 164691 3760881 3105815 595572 59494 266358 266358 306845 306845 162681 162681 179680 179680 211236 211236 3297264 1981207 1229278 86779 141984 3073 138911 1382068 859539 488271 34258 1766524 901782 784763 79979 9296956 1839555 7456976 425 477442 394634 77915 4893 100084 88606 11478 819067 819067 10100108 7397434 2517751 184923 952537 952537 OTHER RESEARCH GRANT EX 2520813 2520813 EDUCATIONAL PROGRAMS 1925920 1888009 37911 STUDENT ACTIVITIES 1577538 1478295 96993 2250 DUES AND MEMBERSHIPS 746972 600693 143967 2312 3474376 158772 3021639 293965 121304491 88844788 30238733 2220970 3266445 979098 19996491 2157609 11686522 13139427 4265474 5856392 5800991 6454455 114286 114286 1248742 994297 293911683 107381723 180468517 186529960 71875239 77401541 18841384 19793762 10200000 10200000 5341456 4825770 333105547 328446597 23810244 20291100 14374878 15277450 65905497 59910546 2502741 3758315 14025789 15142446 26945761 24298033 147564910 138677890 X 119856781 117413028 65683856 72355679 185540637 189768707 333105547 328446597 X -3419347 6703146 944271 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 162681 0 1 23 162704 0 PART II-B, LINE 1: NEW YORK MEDICAL COLLEGE RETAINED THE LAW FIRM OF HINMAN STRAUB, 121 STATE STREET, ALBANY, NEW YORK. CONSIDERATION OF $72,681 WAS PAID FOR LOBBYING SERVICES AND ADVICE REGARDING THE APPROPRIATION BY THE NEW YORK STATE LEGISLATURE AND THE PAYMENT BY THE STATE OF NEW YORK OF GRANT MONIES TO NEW YORK MEDICAL COLLEGE TO SUPPORT BIOMEDICAL RESEARCH. THE COLLEGE'S LOBBYING ACTIVITIES, WITH THE ASSISTANCE OF HINMAN STRAUB, INCLUDED SEVERAL MEETINGS AND TELEPHONE CONVERSATIONS WITH STATE LEGISLATORS AND EXECUTIVE DEPARTMENT OFFICIALS TO MAKE THEM AWARE OF THE IMPORTANCE OF NEW YORK MEDICAL COLLEGE AND BIOMEDICAL RESEARCH IN THE HUDSON VALLEY AREA OF NEW YORK AND THE DIFFICULTY THE FINANCIAL PROBLEMS OF HOSPITALS IN NEW YORK STATE WAS HAVING ON MEDICAL EDUCATION AND RESEARCH AS WELL AS PATIENT CARE. NEW YORK MEDICAL COLLEGE ALSO RETAINED THE LAW FIRM OF DELBELLO DONNELLAN WEINGARTEN WISE AND WIEDERKEHR LLP, ONE NORTH LEXINGTON AVENUE, WHITE PLAINS, NY 10601. CONSIDERATION OF $90,000 WAS PAID FOR LOBBYING SERVICES AND ADVICE REGARDING CERTAIN WESTCHESTER COUNTY LAND USE ISSUES. THE COLLEGE PAYS ANNUAL DUES TO NACUBO, A PORTION OF WHICH ARE ATTRIBUTABLE TO LOBBYING. 0 1 X 68154737 1715000 7457144 3566162 47628 73713091 79642070 271402 -8256050 3439329 63356 68154737 68789798 1104500 13228018 3420246 60000 79642070 70675557 52194 1593773 3380799 150927 68789798 70345328 200408 3659952 3312320 217811 70675557 0.41700 0.32350 0.25960 0 0 24510436 24510436 212784916 66545522 146239394 390466 330326 60140 30052276 24077060 5975216 26173589 16428815 9744774 186529960 BEN INT IN PERP TRUSTS 13697458 F ALTERNATIVE INVESTMENTS 4630331 F OTHER PARTNERSHIP INVESTMENTS 1463544 F REAL ESTATE PARTNERSHIPS 2429 F 19793762 REFUNDABLE FED STUDENT LOANS 56422 OTHER LIABILITIES 225092 PAYABLE TO BIOINC 1851371 OPERATING LEASE LIABILITY 4059746 TAXABLE BONDS 18105402 24298033 X 121411000 6703146 -6506251 196895 121214105 211236 -3540197 -3328961 117885144 117263000 4082900 4082900 113180100 211236 7913155 8124391 121304491 PART IV, LINE 2B: AMOUNTS REPRESENT TUITION PAYMENTS RECEIVED IN ADVANCE AND HELD IN ESCROW BY THE COLLEGE. PART V, LINE 4: THE COLLEGE ENDOWMENT CONSISTS OF APPROXIMATELY 128 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: THE COLLEGE PRESCRIBES TO A THRESHOLD OF MORE LIKELY THAN NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AS OF JUNE 30, 2023 AND 2022, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY SIGNIFICANT UNRELATED BUSINESS INCOME TAX LIABILITY, WHICH WOULD HAVE A MATERIAL IMPACT UPON ITS FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FMV IN PERPETUAL TRUST 1,025,637. REVENUE FROM CONSOLIDATED ORGANIZATION 463,028. POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC -81,366. SCHOLARSHIPS -7,913,550. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -261,162. RENTAL EXPENSES -3,277,900. ROUNDING -1,135. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 3,277,900. EXPENSES FROM CONSOLIDATED ORGANIZATION 543,838. SPECIAL EVENT EXPENSES 261,162. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 7,913,550. ROUNDING -395. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SOLICITATION MATERIALS REQUESTED FROM OR SENT BY THE INSTITUTION CONTAIN A STATEMENT OF ITS POLICY ON NON-DISCRIMINATION. THE COLLEGE'S POLICY ON NON-DISCRIMINATION IS ALSO DISPLAYED ON ITS PUBLIC WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES ANNUAL FUNDING APPROPRIATED FROM THE NEW YORK STATE BUNDY AID PROGRAM. 0 CENTRAL AMERICA/CARIBBEAN 0 0 INVESTMENTS 4630331 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 9887 EUROPE 0 0 GRANTMAKING 28817 0 0 0 0 0 0 4669035 0 4669035 EUROPE RESEARCH 28817 0 EAST ASIA AND THE PACIFIC RESEARCH 9887 0 2 1 0 1 1 0 1 PART I, LINE 3: THE INVESTMENTS LISTED ON PART I ARE REPORTED AT FAIR MARKET VALUE. PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN (F): THE COLLEGE USES THE ACCRUAL METHOD OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES. X X X X X X 1 CI PARTNERS DIRECT INC 1601 EASTMAN AVE UNIT 202 VENTURA CA 93003 DIRECT MAIL/DIRECT RESPONSE CAMPAIGNS 0 383972 179680 204292 383972 179680 204292 AK AZ AR CA CT DE FL GA HI ID IL IN IA KS LA ME MS MT NE NV NH NJ NY NC OR PA SC SD TX VT VA WV WI WY FOUNDER'S DINNER 273524 214930 58594 3563 69492 1500 82756 GOLF OUTING 159785 143735 16050 1320 25446 61364 15721 433309 358665 74644 4883 25446 130856 1500 98477 261162 -186518 1 TOURO UNIVERSITY 50 WEST 47TH STREET NEW YORK NY 10036 132676570 501(C)(3) 114519 0 RESEARCH OREGON HEALTH AND SCIENCE UNIVERSITY 2525 SW 3RD AVE SUITE 245 PORTLAND OR 97201 931176109 501(C)(3) 114007 0 RESEARCH THE CHILDREN'S HOSPITAL OF PHILADELPHIA 34TH AND CIVIC CENTER BLVD PHILADELPHIA PA 19104 231352166 501(C)(3) 55526 0 RESEARCH WESTERN WASHINGTON UNIVERSITY 516 HIGH STREET BELLINGHAM WA 98225 916000562 501(C)(3) 53701 0 RESEARCH AUGUSTA UNIVERSITY RESEARCH INSTITUTE INC 1120 15TH STREET CJ3301 AUGUSTA GA 30912 581418202 501(C)(3) 49953 0 RESEARCH THE RESEARCH INSTITUTE AT NATIONWIDE CHILDREN'S HOSPITAL 700 CHILDRENS DRIVE COLUMBUS OH 43205 316056230 501(C)(3) 48264 0 RESEARCH RUTGERS THE STATE UNIVERSITY 33 KNIGHTSBRIDGE ROAD PISCATAWAY NJ 08854 226001086 501(C)(3) 38230 0 RESEARCH TEXAS A&M AGRILIFE RESEARCH PO BOX 10420 COLLEGE STATION TX 77842 746000541 501(C)(3) 30452 0 RESEARCH THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK PO BOX 7329 ALBANY NY 12224 141368361 501(C)(3) 26004 0 RESEARCH MEDICAL COLLEGE OF WISCONSIN INC 8701 WATERTOWN PLANK ROAD PO BOX MILWAUKEE WI 53226 390806261 501(C)(3) 25867 0 RESEARCH UNIVERSITY OF MARYLAND BALTIMORE 220 ARCH STREET 13TH FLOOR BALTIMORE MD 21201 526002033 501(C)(3) 24761 0 RESEARCH WASHINGTON UNIVERSITY IN ST LOUIS ONE BROOKINGS DRIVE ST LOUIS MO 63130 430653611 501(C)(3) 17117 0 RESEARCH UNIVERSITY OF COLORADO DENVER PO BOX 910238 DENVER CO 802910238 846000555 501(C)(3) 13820 0 RESEARCH INDIANA UNIVERSITY 1024 E 3RD STREET ROOM 132 BLOOMINGTON IN 47405 356001673 501(C)(3) 12117 0 RESEARCH UC REGENTS UNIVERSITY OF CALIFORNIA 1855 FOLSOM STREET SAN FRANCISCO CA 94143 946036493 501(C)(3) 9260 0 RESEARCH NYU SCHOOL OF MEDICINE DIV OF PULM CCM 550 FIRST AVENUE NEW YORK NY 10016 135562309 501(C)(3) 5000 0 RESEARCH 16 0 SCHOLARSHIPS & GRANTS 508 7913550 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED BASED ON MERIT AND BASED ON NEED. THE BURSAR'S OFFICE MONITORS THE USE OF SUCH FUNDS TO THE EXTENT THAT THEY ARE USED EXCLUSIVELY FOR TUITION AND FEES. WHEN SCHOLARSHIPS ARE AWARDED, THE AMOUNT DISBURSED GOES DIRECTLY AGAINST THE BALANCE A STUDENT HAS WITH THE BURSAR'S OFFICE. WITH RESPECT TO GRANTS RECEIVED BY ORGANIZATIONS WITHIN THE UNITED STATES, THE COLLEGE REQUIRES PASS-THROUGH REPORTS (ATTESTATION OF EFFORT) FROM ITS SUBRECIPIENTS AS OUTLINED IN THE GRANT AGREEMENT WITH THE SUBRECIPIENT. THE TIME AND EFFORT ATTESTATION MUST BE APPROVED BY THE PRINCIPAL INVESTIGATOR OF THE GRANT TO ENSURE RECEIPT OF WORK PERFORMED. X 1 1 X X X 0 1 0 0 0 0 0 1 0 ALAN KADISH PRESIDENT, CEO AND TRUSTEE 0 1044121 0 0 0 0 0 95250 0 173635 0 1313006 0 0 JERRY L NADLER DEAN OF THE SOM - END 2/24/23 590018 0 0 0 76679 0 15250 0 30803 0 712750 0 0 0 EDWARD C HALPERIN CHANCELLOR & CEO 549374 0 55000 0 24310 0 27240 0 34309 0 690233 0 0 0 SALOMON AMAR VP FOR RESEARCH AFFIARS 169105 372225 0 0 20500 0 14166 8921 0 84678 203771 465824 0 0 MITCHELL S CAIRO PROFESSOR 507241 0 0 0 26680 0 27240 0 33224 0 594385 0 0 0 ROBERT W AMLER DEAN SHSP 370235 0 18500 0 26679 0 29070 0 3370 0 447854 0 0 0 MICHAEL S GOLIGORSKY PROFESSOR 284345 0 12339 0 26165 0 38610 0 26092 0 387551 0 0 0 NICHOLAS JANIGA VP, CHIEF COUNSEL & ASST SEC 298346 0 5000 0 300 0 28460 0 44003 0 376109 0 0 0 MICHAEL NEWMAN SECRETARY, SR. VP AND GEN COUNSEL 0 328491 0 0 0 0 0 15250 0 22880 0 366621 0 0 LORI SOLOMON CHAIR OF FAMILY & COMMUNITY MEDICINE 283400 0 10000 0 686 0 29070 0 43234 0 366390 0 0 0 ADAM HAMMERMAN VICE PRESIDENT & CFO 283994 0 0 0 661 0 26596 0 29614 0 340865 0 0 0 GERARD M VILLUCCI ADMINISTRATOR 306338 0 0 0 690 0 29070 0 3401 0 339499 0 0 0 JANE PONTERIO SENIOR ASSOICATE DEAN 279401 0 3000 0 20667 0 15250 0 17950 0 336268 0 0 0 MARINA HOLZ DEAN GSBMS 279987 0 0 0 29898 0 15250 0 1675 0 326810 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE JERRY NADLER, DEAN OF THE SCHOOL OF MEDICINE, HAS A TAXABLE HOUSING ALLOWANCE FROM NEW YORK MEDICAL COLLEGE. PART I, LINE 4B NONQUALIFIED DEFERRED COMPENSATION PLAN THE PRESIDENT PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN; AMOUNTS IN COLUMN (C) INCLUDE A DEFERRAL OF $59,500. PART I, LINE 7 NONFIXED PAYMENTS DISCRETIONARY BONUSES WERE PAID DURING CALENDAR YEAR 2022, AS REPORTED IN COLUMN (B)(II). A DORMITORY AUTHORITY OF THE STATE OF NY 2020A 146000293 000000000 2020-07-01 55610000 SEE PART VI 0 0 0 A 1728235 20590856 1128598 447252 17684234 1330773 2020 0 0 0 1 A 0 0 1 1 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 SUPPLEMENTAL INFORMATION COLUMN A: PART II, LINE 1 - THE AMOUNT OF BONDS RETIRED REFLECTED ON THIS FORM REPRESENT THE BONDS REDEEMED AS OF THE END OF THE REPORTING PERIOD ATTRIBUTABLE TO NEW YORK MEDICAL COLLEGE. COLUMN A: PART I, (F) - THE PORTION OF THE BONDS OF WHICH THE BORROWER IS A BENEFICIARY WAS ISSUED TO FINANCE CONSTRUCTION OF EDUCATIONAL FACILITIES AND MAKE ENERGY AND UTILITY IMPROVEMENTS TO EXISTING EDUCATIONAL FACILITIES. COLUMN A: PART II, LINE 3 - THE TOTAL PROCEEDS SHOWN IN PART II, LINE 3 DIFFERS FROM THE ISSUE PRICE SHOWN IN PART I, (E) DUE TO INTEREST EARNINGS ON INVESTED PROCEEDS. COLUMN A: PART III, LINE 7 - AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE SECURITY OR PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY OR PAYMENT TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE REPORTED IN PART III, LINE 6 IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. SUBSTANTIAL CONTRIB #83 SUB. CONTRIBUTOR 279563 AUDITING 0 SUBSTANTIAL CONTRIB #46 SUB. CONTRIBUTOR 7436487 CONST. FEES 0 X 5 276173 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER LISTED IN PART I, COLUMN (B), IS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION CONT: NEW YORK MEDICAL COLLEGE CONDUCTS BIOMEDICAL AND POPULATION-BASED RESEARCH. THROUGH ITS FACULTY AND AFFILIATED CLINICAL PARTNERS, THE COLLEGE PROVIDES SERVICE TO ITS COMMUNITY IN AN ATMOSPHERE OF EXCELLENCE, SCHOLARSHIP AND PROFESSIONALISM. NEW YORK MEDICAL COLLEGE BELIEVES THAT THE RICH DIVERSITY OF ITS STUDENT BODY AND FACULTY IS IMPORTANT TO ITS MISSION OF EDUCATING OUTSTANDING HEALTH CARE PROFESSIONALS FOR THE MULTICULTURAL WORLD OF THE 21ST CENTURY. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF NEW YORK MEDICAL COLLEGE IS NYMC, LLC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF NEW YORK MEDICAL COLLEGE IS NYMC, LLC. NYMC, LLC ELECTS AND APPROVES THE PRESIDENT, CHANCELLOR FOR HEALTH AFFAIRS/CEO AND CHAIRMAN OF THE BOARD OF TRUSTEES AND APPROVES SIGNIFICANT DECISIONS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE COLLEGE'S ORGANIZATIONAL DOCUMENTS DESCRIBE THE PROCESS FOR MEMBER APPROVAL OF SIGNIFICANT DECISIONS OF THE GOVERNING BODY. ARTICLE II, SECTION 6 OF THE BYLAWS REQUIRES MEMBERSHIP APPROVAL BY THE SOLE MEMBER NYMC LLC FOR THE FOLLOWING PROPOSED ACTIONS: I. ELECTION OF THE TRUSTEES OF THE CORPORATION; II. ANY AMENDMENT TO THE CERTIFICATE OF INCORPORATION BYLAWS OR MISSION STATEMENT OF THE CORPORATION; III. APPROVAL OF ANY MAJOR CAPITAL PROJECT INVOLVING THE SALE, ASSIGNMENT, LEASE, PLEDGE, TRANSFER OR OTHER ENCUMBRANCE OF SUBSTANTIAL FIXED ASSETS OF THE CORPORATION; V. APPROVAL OF ANY UNSECURED DEBT INCURRENCE IN AN AMOUNT GREATER THAN 5% OF THE CORPORATION'S OPERATING BUDGET; VI. APPROVAL OF THE ESTABLISHMENT OF A NEW RELATED ENTITY OF THE CORPORATION; VII. REMOVAL WITH OR WITHOUT CAUSE OF ANY OR ALL OF THE TRUSTEES; VIII. APPROVAL OF (A) THE PURCHASE, SALE, MORTGAGE OR LEASE OF REAL PROPERTY WHICH CONSTITUTES A MATERIAL PORTION OF THE ASSETS OF THE CORPORATION OR (B) THE SALE, ASSIGNMENT OF OTHER DISPOSITION OF ALL OR A MATERIAL PORTION OF THE ASSETS OF THE CORPORATION; IX. APPROVAL OF ANY MERGER, CONSOLIDATION, PURCHASE OR JOINT OPERATION AGREEMENT INVOLVING THE CORPORATION; AND X. APPROVAL OF ANY PLAN OF DISSOLUTION OR LIQUIDATION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE NEW YORK MEDICAL COLLEGE FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM THEN REVIEWED BY SENIOR MANAGEMENT, SPECIFICALLY THE CONTROLLER, VICE PRESIDENT & CFO AND GENERAL COUNSEL AND SUBMITTED TO AND REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. COPIES OF THIS RETURN ARE DISTRIBUTED TO THE FULL BOARD OF TRUSTEES BEFORE THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THERE ARE TWO CONFLICT OF INTEREST POLICIES, ONE FOR THE MEMBERS OF THE BOARD OF TRUSTEES AND THE SECOND APPLICABLE TO ALL FULL-TIME FACULTY AND EMPLOYEES OF NEW YORK MEDICAL COLLEGE. ANNUAL DISCLOSURE FORMS ARE DISTRIBUTED AND ARE REQUIRED TO BE SUBMITTED BY BOTH POLICIES. COMPLIANCE WITH THE BOARD OF TRUSTEES CONFLICT OF INTEREST POLICY IS MONITORED BY THE COLLEGE'S INSTITUTIONAL COMPLIANCE OFFICER, THE AUDIT COMMITTEE, AND THE BOARD OF TRUSTEES OF THE COLLEGE. COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY APPLICABLE TO FULL-TIME FACULTY AND EMPLOYEES IS MONITORED BY THE INSTITUTIONAL COMPLIANCE OFFICER AND THE AUDIT COMMITTEE OF THE COLLEGE. FORMAL CONFLICT MANAGEMENT PLANS ARE IMPLEMENTED FOR ANY ACTUAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD AND OFFICERS, WHO ARE FREE OF ANY CONFLICT, APPROVE EXECUTIVE HIRING DECISIONS. IN MAKING COMPENSATION AND EMPLOYEE BENEFIT DETERMINATIONS, CONSIDERATION IS GIVEN TO EXPERT REPORTS AND COMPENSATION TRENDS IN THE INDUSTRY, QUALIFICATIONS AND OTHER MERITS OF THE CANDIDATES. ALL SUCH DECISIONS ARE DOCUMENTED. COMPENSATION FOR SENIOR MANAGEMENT IS REVIEWED WHEN APPLICABLE. THE FINANCE COMMITTEE APPROVAL IS ALSO REQUIRED FOR ANY SALARY INCREASES ABOVE 14.99%. COMPENSATION FROM RELATED ORGANIZATIONS ARE REVIEWED BY THE BOARD OF SUCH ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S CONFLICT OF INTEREST POLICY AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AND POSTED ON THE COLLEGE'S WEBSITE. FORM 990, PART XI, LINE 9: BENEFIT COSTS -81,366. POST RETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC 1,025,637. 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ALL TRANSACTIONS WITH DIRECTLY CONTROLLED ORGANIZATIONS ARE REPORTED ON PART V, LINE 2.