2025-05-02T13:43:47-05:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-07-01 111788788 NEW YORK INSTITUTE OF TECHNOLOGY NEWY 5166867915 NORTHERN BLVD GERRY HOUSE 200 OLD WESTBURY NY 11568 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 5166867915 2025-05-02 1 1 SCOTT THOMPSETT P00741490 2125990100 2023 2025-03-06 01:10:19Z HENRY FOLEY PHD NORTHERN BLVD GERRY HOUSE OLD WESTBURY NY 11568 501314804 0 X WWW.NYIT.EDU X 1955 NY WE ARE COMMITTED TO EDUCATING THE NEXT GENERATION OF LEADERS AND INSPIRING INNOVATION. (SEE SCH O) 18 17 2754 0 2285990 0 11785536 10679764 330165554 351692354 3433018 12772701 6830662 6353583 352214770 381498402 72221260 80378505 0 0 156729017 164870205 333814 353232 2628718 113151159 120767152 342435250 366369094 9779520 15129308 440803344 586710960 206006233 327591757 234797111 259119203 X NEW YORK INSTITUTE OF TECHNOLOGY (NYIT) OFFERS VARIOUS DEGREE PROGRAMS, INCLUDING UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES, IN MORE THAN 50 FIELDS OF STUDY, INCLUDING ARCHITECTURE AND DESIGN; ARTS AND SCIENCES; (CONTINUED ON SCHEDULE O) 0 0 337975576 80378505 347585794 SEE SCHEDULE O 5380006 0 4283912 SEE SCHEDULE O 343355582 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 319 0 1 2754 1 1 1 1 CA 0 0 0 1 1 0 0 0 0 1 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X BARBARA HOLAHAN 5166867555 NORTHERN BLVD GERRY HOUSE RM 200 OLD WESTBURY NY 11568 DR HENRY FOLEY PRESIDENT 60.00 0.00 X X 1285176 0 47267 PETER J ROMANO CHAIRPERSON 5.00 0.00 X X 0 0 0 DAN FERRARA VICE CHAIR 5.00 0.00 X X 0 0 0 MICHAEL J MERLO VICE CHAIR 5.00 0.00 X X 0 0 0 CATHERINE ALLEN TRUSTEE 5.00 0.00 X 0 0 0 ANDREW BERNER TRUSTEE 5.00 0.00 X 0 0 0 DOMENICK CHIECO TRUSTEE 5.00 0.00 X 0 0 0 PHILLIP FASANO TRUSTEE (THRU 09/2023) 5.00 0.00 X 0 0 0 PETER FERENTINOS TRUSTEE 5.00 0.00 X 0 0 0 HENRY IERVOLINO TRUSTEE 5.00 0.00 X 0 0 0 SANTHOSH KESHAVAN TRUSTEE 5.00 0.00 X 0 0 0 JOHN KEVILLE TRUSTEE 5.00 0.00 X 0 0 0 THOMAS VAN LAAN TRUSTEE 5.00 0.00 X 0 0 0 TED MOUDIS TRUSTEE 5.00 0.00 X 0 0 0 PATRICK O'SHAUGHNESSY TRUSTEE 5.00 0.00 X 0 0 0 MONTE N REDMAN TRUSTEE 5.00 0.00 X 0 0 0 DEBORAH VOGEL TRUSTEE 5.00 0.00 X 0 0 0 ELI WACHTEL TRUSTEE (AS OF 12/2023) 5.00 0.00 X 0 0 0 ROBERT A WILD ESQ TRUSTEE 5.00 0.00 X 0 0 0 CATHERINE FLICKINGER VP HR, GEN. COUNSEL & SECRETARY 40.00 0.00 X 484283 0 58295 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 40.00 0.00 X 439714 0 55239 EILEEN VALERIO CONTROLLER & ASSISTANT TREASURER 40.00 0.00 X 217000 0 46683 JERRY BALENTINE PROVOST & EXECUTIVE VICE PRESIDENT 40.00 0.00 X 757388 0 69993 NICOLE WADSWORTH DEAN, COLLEGE OF OSTEOPATHIC MED. 40.00 0.00 X 408753 0 61404 JOSEPH POSILLICO VP FOR ENROLL MGMT/STRATEGIC COMM. 40.00 0.00 X 417822 0 59780 BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 40.00 0.00 X 350586 0 54366 DONALD BOOTH VP, CAPITAL PLANNING & FACILIITES 40.00 0.00 X 308223 0 44064 SHANE SPEIGHTS SITE DEAN, COLLEGE OF OSTEOPATHIC MED. 40.00 0.00 X 433320 0 61654 PATRICK MINSON VP DEV. & ALUM. RELATIONS & EXT AFF. 40.00 0.00 X 373070 0 59701 PENNIE TURGEON VP OF IT & CIO 40.00 0.00 X 406249 0 24332 ANTHONY GERDES PROFESSOR 40.00 0.00 X 348263 0 58332 NANCY BONO ASSOC. DEAN CLINICAL REL. & OUTREACH /ASSOC. PROF 40.00 0.00 X 315116 0 72327 6544963 0 773437 364 0 1 0 ACCENTURE LLP 500 WEST MADISON STREET CHICAGO IL 60661 CONSULTING 5329503 ROOF SERVICES OF NEW YORK 48 WEST JEFRYN BLVD DEER PARK NY 11729 CONSTRUCTION 3810340 UNIVERSAL PROTECTION SERVICE LP 50 JACKSON AVE SYOSSET NY 11791 SECURITY 2585939 CONSIGLI & ASSOCIATES LLC 22 COLT COURT RONKONKOMA NY 11779 CONSTRUCTION 2390625 BOILERMATIC WELDING INDUSTRIES INC 17 PECONIC AVE MEDFORD NY 11763 CONSTRUCTION 2281820 158 346432 4969453 5363879 176463 10679764 TUITION AND FEES 611600 333209620 333209620 STUDENT INSUR. PREM. 900099 8556179 8556179 MEDICAL OUTREACH CENT. 611600 4102485 4102485 ROOM AND BOARD 900099 3777068 3777068 CATERING & FOOD SERVICE 722320 1080793 1080793 966209 966209 351692354 7045129 -3607 7048736 256111 0 256111 256111 256111 119576328 5735836 119055942 528650 520386 5207186 5727572 5727572 174055 346432 231810 -57755 -57755 DESEVERSKY CONF CENTER 900099 2289597 2289597 ADMIN OVERHEAD COST RECOVERY 900099 1520255 1520255 ACADEMIC HEALTH CENTER 900099 177352 177352 2168023 2168023 6155227 381498402 351869706 2285990 16662942 500255 500255 79878250 79878250 2779801 720684 2059117 121837218 116257074 4849121 731023 7591588 7243893 302145 45550 22371268 21346664 890376 134228 10290330 9819033 409555 61742 3064776 3064776 394067 394067 12000 12000 353232 353232 497734 497734 13477040 12576097 900943 3495123 2748597 199379 547147 9862207 9150501 711706 33640483 32294864 1345619 2076239 1874051 78085 124103 3556773 3210407 133767 212599 178152 171394 6758 17071478 16387714 683764 13239885 12644091 529595 66199 EQUIP. RENTAL & MAINT. 6072814 5829895 242919 HOSPITAL ROTATIONS 3646134 3499924 146210 RECRUITING EXPENSES 2037198 2037198 INTERNATIONAL PROGRAMS 966156 927510 38646 7478893 4225486 2900512 352895 366369094 343355582 20384794 2628718 60141977 144728160 4742766 4508084 4515150 4321277 4606903 3843006 3951514 2645668 313060679 163836950 129347743 149223729 106954003 131789025 22107173 16047555 104436115 129604456 440803344 586710960 26063187 37944628 29785695 24255864 108673360 18078425 132078926 156717905 206006233 327591757 X 219857493 243421306 14939618 15697897 234797111 259119203 440803344 586710960 X 15129308 9469791 -277007 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 12000 12000 0 PART II-B, LINE 1: THE INSTITUTE DOES NOT ENGAGE IN ANY DIRECT LOBBYING ACTIVITY ITSELF; HOWEVER, THE INSTITUTE HAS ENGAGED A THIRD PARTY CONSULTANT TO ADVOCATE ON VARIOUS EDUCATIONAL ISSUES AND TO COLLABORATE WITH KEY POLICYMAKERS IN THE EXECUTIVE AND THE STATE LEGISLATURE ON ISSUES IMPORTANT TO THE INSTITUTE. THIS CONSULTANT INVOICED NYIT $12,000 IN FISCAL YEAR 2024. IN ADDITION, THE INSTITUTE IS A DUES-PAYING MEMBER IN VARIOUS HIGHER EDUCATION MEMBERSHIP ORGANIZATIONS (E.G. - NACUBO). A PORTION OF THESE MEMBERSHIP DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES (BUT HAS NOT BEEN QUANTIFIED FOR SCHEDULE C PURPOSES). 100104365 155028 11497444 4411756 -10000000 423860 116921221 78240785 689031 6649978 4618150 -20000000 857279 100104365 100902836 369628 -2459917 457960 20000000 113802 78240785 84815425 182783 21085597 257269 4679323 244377 100902836 87908924 171783 105408 257269 2926334 187087 84815425 0.89320 0.05470 0.05210 0 0 4798837 4798837 17718600 216218648 135255590 98681658 42426674 28581360 13845314 31897920 31897920 149223729 OPERATING RIGHT-OF-USE ASSETS 128479085 OTHER ASSETS 1125371 129604456 OPERATING RIGHT-OF-USE LEASE OBLIGATION 143793410 REFUNDABLE GRANTS AND US GOVERNMENT LOAN FUNDS 7881796 POST-RETIREMENT HEALTH BENEFITS 5042699 156717905 X 310592209 9469791 -79878250 -70408459 381000668 497734 497734 381498402 278299973 0 278299973 497734 87571387 88069121 366369094 PART V, LINE 4: USE OF ENDOWMENT FUNDS THE INSTITUTE'S ENDOWMENT CONSISTS OF A BOARD-DESIGNATED QUASI-ENDOWMENT, PLUS 54 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF RESTRICTED AND DESIGNATED PURPOSES. INCOME GENERATED BY THE RESTRICTED ENDOWMENT FUNDS ARE USED PRIMARILY TO SUPPORT SCHOLARSHIPS AND OTHER PURPOSES IN LINE WITH ORIGINAL DONOR INTENTIONS. INCOME FROM THE QUASI-ENDOWMENT IS GENERALLY USED TO SUPPORT THE ANNUAL OPERATING BUDGET, BUT THE BOARD MAY ELECT TO WITHDRAW QUASI-ENDOWMENT PRINCIPAL TO FUND CAPITAL EXPENDITURES AND OTHER INSTITUTE PROJECTS. IN FISCAL YEAR 2022, THE INSTITUTE TRANSFERRED $20 MILLION FROM THE BOARD-DESIGNATED ENDOWMENT FUND TO A NON-ENDOWED INVESTMENT POOL THAT CARRIES HIGH LIQUIDITY AND RELATIVELY LOW MARKET RISK. IN FISCAL YEAR 2023, THE INSTITUTE RETURNED THE FUNDS TO THE BOARD-DESIGNATED ENDOWMENT. IN FISCAL YEAR 2024, THE INSTITUTE TRANSFERRED $10 MILLION FROM ITS CAPITAL RESERVE ACCOUNT TO ITS ENDOWED INVESTMENT POOL. THE FORM 990, SCHEDULE D ENDOWMENT TABLE HAS NO LINE ITEM FOR ENDOWMENT TRANSFERS AND SO THE TRANSFERS ARE REFLECTED IN SCHEDULE D, PART V, LINE 1(E). PART X, LINE 2: FIN 48 (ASC 740) - INCOME TAX THE INSTITUTE FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE INSTITUTE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE INSTITUTE HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE INSTITUTE HAS NOT RECORDED A PROVISION FOR INCOME TAXES AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS -79,878,250. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 79,878,250. WRITEDOWN OF INACTIVE/IMPAIRED ASSETS 7,693,137. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION THE NEW YORK INSTITUTE OF TECHNOLOGY PUBLISHES ITS STATEMENT OF NON-DISCRIMINATION ON ITS WEBSITE AT HTTP://WWW.NYIT.EDU/ABOUT/STATEMENT_ON_NON_DISCRIMINATION. IN ADDITION, THE INSTITUTE'S POLICY IS PUBLISHED IN A CATALOG THAT IS MADE AVAILABLE TO ALL STUDENTS ONLINE AND IN ALL PHYSICAL BROCHURES SENT TO STUDENTS. FINALLY, THE INSTITUTE ENSURES THAT THE POLICY IS INCLUDED WITHIN APPLICABLE ADVERTISING MATERIALS. GOVERNMENT AID THE NEW YORK INSTITUTE OF TECHNOLOGY RECEIVES GOVERNMENTAL FUNDING FROM THE FOLLOWING THREE NEW YORK STATE PROGRAMS: 1. HIGH NEEDS NURSING PROGRAM 2. BUNDY AID 3. HIGHER EDUCATION OPPORTUNITY PROGRAM THESE PROGRAMS ENABLE THE INSTITUTE TO PROVIDE STUDENT SCHOLARSHIPS AND TO SUPPORT RESEARCH EFFORTS. NORTH AMERICA 1 36 PROGRAM SERVICES EDUCATION 15481385 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 13094259 1 36 0 0 1 36 28575644 0 28575644 1 0 1 1 1 1 SCHEDULE F, PART IV NEW YORK INSTITUTE OF TECHNOLOGY INVESTS DIRECTLY IN VARIOUS ALTERNATIVE INVESTMENTS THAT MAY BE ORGANIZED AS EITHER FOREIGN CORPORATIONS OR FOREIGN PARTNERSHIPS. THE INSTITUTE ALSO INVESTS IN DOMESTIC LIMITED PARTNERSHIPS THAT MAY INVEST IN FOREIGN CORPORATIONS OR PARTNERSHIPS. THE INSTITUTE'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR THE FILING OF FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT THAT THE INSTITUTE IS REQUIRED TO COMPLETE ONE (OR MORE) OF THESE FOREIGN FORMS, IT IS FILED WITH THE INSTITUTE'S FORM 990-T FILING. 1 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVENUE FL 5 NEW YORK NY 10022 FUNDRAISING CONSULTANT 0 0 270829 -270829 THOMAS HILES CONSULTING LLC 5003 THORNBROOK RIDGE COLUMBIA MO 65203 FUNDRAISING CONSULTANT 0 0 82403 -82403 353232 -353232 NY GOLF OUTING 52662 11075 41587 9251 45994 2269 FRIENDS EVENT 401125 280707 120418 8531 137605 1676 1 66700 54650 12050 19800 6684 520487 346432 174055 9251 54525 157405 10629 231810 -57755 SCHEDULE G, PART I NYIT PAYS VARIOUS PROFESSIONAL FUNDRAISERS, AS REPORTED ON SCHEDULE G, TO CULTIVATE DONORS, CREATE FUNDRAISING CAMPAIGNS AND TO INCREASE BRAND AWARENESS OF THE INSTITUTE AMONG THE GIVING PUBLIC. EACH FUNDRAISER HAS VARIOUS DIFFERENT TOUCHPOINTS WITH DONORS THROUGHOUT THE COURSE OF THE YEAR (OR YEARS) AND IT IS DIFFICULT TO TRACE WHAT CONNECTIONS MAY ULTIMATELY INSPIRE A DONOR TO MAKE A DONATION TO THE INSTITUTE. ACCORDINGLY, THE INSTITUTE IS UNABLE TO QUANTIFY THE GROSS RECEIPTS RAISED BY EACH FUNDRAISER FOR SCHEDULE G REPORTING PURPOSES AND IS THEREFORE REPORTING $0 RATHER THAN MAKING AN ESTIMATION. 1 NEW YORK UNIVERSITY 70 WASHINGTON SQUARE SOUTH NEW YORK NY 100121019 135562308 501(C)(3) 48372 0 RESEARCH RESEARCH FOUNDATION OF CUNY 230 WEST 41ST STREET 7TH FLOOR NEW YORK NY 10036 131988190 501(C)(3) 10745 0 RESEARCH SANFORD BURNHAM PREBYS MEDICAL DISCOVERY INSITITUTE 10901 NORTH TORREY PINES ROAD LA JOLLA CA 920371005 510197108 501(C)(3) 61499 0 RESEARCH TRUSTEES OF TUFTS COLLEGE 136 HARRISON AVE BOSTON MA 021111817 042103634 501(C)(3) 83254 0 RESEARCH BOARD OF REGENTS OF THE UNIVERSITY OF WISCONSIN SYSTEM 21 N PARK STREET SUITE 6401 MADISON WI 537151218 396006492 SECTION 115 92097 0 RESEARCH ARIZONA STATE UNIVERSITY 660 SOUTH MILL AVENUE SUITE 204 TEMPLE AZ 852813670 860196696 SECTION 115 45825 0 RESEARCH THE UNIVERSITY OF UTAH 201 S PRESIDENTS CIRCLE SALT LAKE CITY UT 84112 876000525 501(C)(3) 94636 0 RESEARCH RUTGERS THE STATE UNIVERSITY OF NEW JERSEY 33 KNIGHTBRIDGE ROAD PISCATAWAY NJ 08854 226001086 501(C)(3) 22158 0 RESEARCH THE TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK 615 WEST 131ST ST 6TH FLOOR MAIL CODE 8725 NEW YORK NY 100277922 135598093 501(C)(3) 41669 0 RESEARCH 9 0 SCHOLARSHIPS 4559 79878250 SCHEDULE I, PART I, LINE 1: GRANT MONITORING PROCEDURES THE GRANTS DEPARTMENT AND THE FINANCIAL AID OFFICE OVERSEE ALL GRANTS, GOVERNMENT LOANS AND SCHOLARSHIP EXPENDITURES. ALL GRANT EXPENSES ARE APPROVED AND REIMBURSED IN ACCORDANCE WITH UNIVERSITY POLICY. AN ANNUAL AUDIT IS CONDUCTED IN ACCORDANCE WITH GOVERNMENTAL REGULATIONS. TO THE EXTENT THE INSTITUTE OFFERS SCHOLARSHIPS TO ITS STUDENTS, THOSE FUNDS MAY ONLY BE USED TO DEFRAY THE COST OF ATTENDANCE AND MAY NOT BE SPENT AT THE STUDENT'S DISCRETION. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 DR HENRY FOLEY PRESIDENT 840176 0 325000 0 120000 0 23100 0 24167 0 1332443 0 0 0 JERRY BALENTINE PROVOST & EXECUTIVE VICE PRESIDENT 700765 0 50000 0 6623 0 29700 0 40293 0 827381 0 0 0 CATHERINE FLICKINGER VP HR, GEN. COUNSEL & SECRETARY 427779 0 50000 0 6504 0 33000 0 25295 0 542578 0 0 0 SHANE SPEIGHTS SITE DEAN, COLLEGE OF OSTEOPATHIC ME 433182 0 0 0 138 0 27025 0 34629 0 494974 0 0 0 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 383091 0 50000 0 6623 0 29717 0 25522 0 494953 0 0 0 JOSEPH POSILLICO VP FOR ENROLL MGMT/STRATEGIC COMM. 386060 0 25000 0 6762 0 23100 0 36680 0 477602 0 0 0 NICOLE WADSWORTH DEAN, COLLEGE OF OSTEOPATHIC MED. 408615 0 0 0 138 0 23100 0 38304 0 470157 0 0 0 PATRICK MINSON VP DEV. & ALUM. RELATIONS & EXT AFF. 366506 0 0 0 6564 0 23100 0 36601 0 432771 0 0 0 PENNIE TURGEON VP OF IT & CIO 373287 0 25000 0 7962 0 23100 0 1232 0 430581 0 0 0 ANTHONY GERDES PROFESSOR 347552 0 0 0 711 0 33000 0 25332 0 406595 0 0 0 BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 350467 0 0 0 119 0 33000 0 21366 0 404952 0 0 0 NANCY BONO ASSOC. DEAN CLINICAL REL. & OUTREACH 314213 0 0 0 903 0 31308 0 41019 0 387443 0 0 0 DONALD BOOTH VP, CAPITAL PLANNING & FACILIITES 301482 0 0 0 6741 0 13563 0 30501 0 352287 0 0 0 EILEEN VALERIO CONTROLLER & ASSISTANT TREASURER 216881 0 0 0 119 0 22670 0 24013 0 263683 0 0 0 HOUSING BENEFITS SCHEDULE J, PART I, LINE 1A NYIT IS A GLOBAL UNIVERSITY WITH CAMPUSES IN NEW YORK (MANHATTAN AND LONG ISLAND), ARKANSAS (JONESBORO) AND CANADA (VANCOUVER), AND, AS SUCH, THE PRESIDENT IS REQUIRED TO ENGAGE IN EXTENSIVE INTERNATIONAL TRAVEL. THE PRESIDENT TRAVELS WITH ABOVE STANDARD ACCOMMODATIONS (E.G., BUSINESS OR FIRST CLASS). THE UNIVERSITY ALSO MAKES A CAR AND DRIVER AVAILABLE TO THE PRESIDENT FOR TRAVEL BETWEEN CAMPUSES. THESE ACCOMMODATIONS ARE USED FOR BUSINESS PURPOSES ONLY AND ARE NOT TREATED AS TAXABLE COMPENSATION. NYIT DOES NOT MAINTAIN PRESIDENTIAL CAMPUS HOUSING. NYIT PROVIDES A HOUSING ALLOWANCE TO THE PRESIDENT TO MAINTAIN A RESIDENCE FOR PERSONAL AND UNIVERSITY FUNCTIONS. OTHER TAXABLE COMPENSATION RECEIVED BY PRESIDENT FOLEY IN CALENDAR YEAR 2023 INCLUDED A $120,000 HOUSING ALLOWANCE. THE INSTITUTE HAS A MEMBERSHIP AT A LOCAL UNIVERSITY CLUB IN THE NAME OF PRESIDENT, HANK FOLEY. THIS CLUB IS USED EXCLUSIVELY TO ENGAGE IN UNIVERSITY BUSINESS; ACCORDINGLY THE VALUE OF THE CLUB MEMBERSHIP IS NOT INCLUDED IN PRESIDENT FOLEY'S TAXABLE WAGES. SCHEDULE J, PART I, LINE 4B: PRESIDENT & CEO, DR. HANK FOLEY, PARTICIPATES IN THE INSTITUTE'S SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN; IN CALENDAR YEAR 2023, THE INSTITUTE ACCRUED $60,000 TO BE CONTRIBUTED INTO DR. FOLEY'S PLAN. THIS AMOUNT HAS BEEN REPORTED IN SCHEDULE J, PART II, COLUMN (C). SCHEDULE J, PART I, LINE 7 AND PART II, COLUMN (B)(II) THE PRESIDENT'S REPORTABLE COMPENSATION INCLUDES BONUS AND INCENTIVE COMPENSATION EARNED BASED ON MEETING CERTAIN OBJECTIVE PERFORMANCE CRITERIA AND IN ACCORDANCE WITH THE PRESIDENT'S EMPLOYMENT AGREEMENT. THE DECISION TO AWARD THE PRESIDENT WITH A BONUS RESTS WITH THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE. OTHER OFFICERS AND KEY EMPLOYEES REPORTED ON SCHEDULE J, LIKEWISE, RECEIVED A BONUS IN CALENDAR YEAR 2023 AT THE DIRECTION OF THE PRESIDENT AND BOARD OF TRUSTEES. A DASNY - SERIES 2024 146000293 65000BT81 2024-03-14 109947838 RENOVATIONS OF EXISTING FACILITIES 0 0 0 A 109947838 896505 109051333 125000 109822838 0 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 X 1 50963 FMV X OTHER 2 125000 FMV 0 1 0 SCHEDULE M, PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART I, LINE 1 SINCE 1955, NYIT HAS PURSUED ITS MISSION TO PROVIDE CAREER-ORIENTED PROFESSIONAL EDUCATION; GIVE ALL QUALIFIED STUDENTS ACCESS TO OPPORTUNITY; SUPPORT RESEARCH AND SCHOLARSHIP THAT BENEFIT THE LARGER WORLD. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: ENGINEERING AND COMPUTING SCIENCES; HEALTH PROFESSIONS; ARCHITECTURE; MANAGEMENT; AND MEDICINE. NYIT IS A NON-PROFIT, INDEPENDENT, PRIVATE, AND NONSECTARIAN INSTITUTION OF HIGHER EDUCATION. SINCE 1955, NYIT HAS PURSUED ITS MISSION TO: -PROVIDE CAREER-ORIENTED PROFESSIONAL EDUCATION -GIVE ALL QUALIFIED STUDENTS ACCESS TO OPPORTUNITY -SUPPORT RESEARCH AND SCHOLARSHIP THAT BENEFIT THE LARGER WORLD. BY 2028, NEW YORK INSTITUTE OF TECHNOLOGY, BY PROVIDING AN OUTSTANDING STUDENT EXPERIENCE, WILL BECOME ONE OF THE BEST PRIVATE INSTITUTIONS OF HIGHER EDUCATION IN METROPOLITAN NEW YORK CITY AND LONG ISLAND. AT NEW YORK INSTITUTE OF TECHNOLOGY, CARING AND EXPERT FACULTY AND STAFF PROVIDE A STUDENT EXPERIENCE THAT: -INSPIRES CRITICALLY CREATIVE THINKING IN PROFESSIONAL PROGRAMS INFUSED WITH TECHNOLOGY; AND -EMPOWERS OUR GRADUATES TO CHANGE THE WORLD, TO SOLVE 21ST-CENTURY CHALLENGES, AND TO REINVENT THE FUTURE. FORM 990, PART III, LINE 4A NYIT PROVIDES UNDERGRADUATE, GRADUATE, AND DOCTORAL INSTRUCTION TO A DIVERSE STUDENT POPULATION. APPROXIMATELY 7,559 STUDENTS ATTENDED THE INSTITUTION LAST YEAR AND 2,344 GRADUATED. THE INSTITUTE OFFERS THE FOLLOWING SCHOOLS AND COLLEGES: COLLEGE OF ARTS AND SCIENCES COLLEGE OF OSTEOPATHIC MEDICINE SCHOOL OF ARCHITECTURE AND DESIGN COLLEGE OF ENGINEERING AND COMPUTING SCIENCES SCHOOL OF HEALTH PROFESSIONS SCHOOL OF MANAGEMENT SOME HIGHLIGHTS FROM THE INSTITUTE'S MOST RECENT SCHOOL YEAR: -99% OF OUR FIRST TIME, FULL TIME STUDENTS RECEIVE SOME FORM OF FINANCIAL AID -$33,200+ AVERAGE FINANCIAL AID AWARD FOR FIRST-TIME, FULL-TIME DEGREE-SEEKING STUDENTS AT OUR NEW YORK CAMPUSES -13:1 STUDENT-TO-FACULTY RATIO -#1 MOST DIVERSE STUDENT BODY IN THE UNITED STATES -116,000 ALUMNI -81% OF OUR INTERNS RECEIVED OFFERS OF CONTINUED EMPLOYMENT -TOP 2% OF U.S. COLLEGES FOR RETURN ON INVESTMENT FOR LOW-INCOME STUDENTS -30% OF UNDERGRADUATE STUDENTS ARE FIRST-GENERATION -15% OF STUDENTS AT OUR U.S. CAMPUSES ARE INTERNATIONAL STUDENTS -67% OF STUDENTS AT OUR U.S. CAMPUSES ARE FROM NEW YORK STATE. -TOP 10% RETURN IN INVESTMENT OVER 20, 30 AND 40 YEARS. PROGRAMMATIC REVENUES REPRESENT TUITION AND FEES, ROOM AND BOARD, ANCILLARY EDUCATIONAL SERVICES, AND OTHER EDUCATIONAL PROGRAMS (REPORTED ON LINE 11(D) OF PART VIII OF THE 990). FORM 990, PART III, LINE 4B NYIT'S ACADEMIC HEALTH CARE CENTERS OFFER HEALTH AND MEDICAL SERVICES TO STUDENTS, FACULTY, STAFF, AND COMMUNITY MEMBERS. THE CENTERS ARE STAFFED BY PHYSICIANS FROM NYIT'S COLLEGE OF OSTEOPATHIC MEDICINE -- ONE OF THE NATION'S MOST PRESTIGIOUS OSTEOPATHIC MEDICAL SCHOOLS -- AS WELL AS MEDICAL STUDENTS WHO ARE PREPARING TO ENTER VARIOUS HEALTH PROFESSIONS. THESE PRIMARY CARE CENTERS ARE OPERATED IN OLD WESTBURY, CENTRAL ISLIP, AND JONESBORO AND ARE STAFFED BY FACULTY FROM THE DEPARTMENTS OF FAMILY PRACTICE, CLINICAL SPECIALTIES, OSTEOPATHIC MANIPULATIVE MEDICINE, AS WELL AS PHYSICAL, OCCUPATIONAL, SPEECH THERAPISTS AND EXERCISE PHYSIOLOGISTS. FORM 990, PART VI, SECTION A, LINE 1A IN ADDITION TO THE POWERS HELD BY THE BOARD OF DIRECTOR, THE INSTITUTE'S BYLAWS HAVE CREATED AN EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL CONDUCT AFFAIRS OF THE BOARD BETWEEN REGULARLY SCHEDULED MEETINGS AND SHALL EXERCISE ALL THE POWERS OF THE BOARD EXCEPT THE FOLLOWING: A. THOSE POWERS RESERVED TO THE FULL BOARD BY LAW; B. ACTIONS INCONSISTENT WITH THESE BYLAWS OR WITH THE EXPRESS POLICIES OF THE BOARD; C. AWARD OF DEGREES; D. APPOINTMENT OR REMOVAL OF THE PRESIDENT; E. MERGER, ASSOCIATION OR CONSOLIDATION WITH ANOTHER INSTITUTION; AND F. AMEND THESE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE INSTITUTE'S FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH BOTH THE INSTITUTE'S FINANCIAL DEPARTMENT AND ITS MANAGEMENT TEAM. THE 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER, PRESIDENT AND GENERAL COUNSEL PRIOR TO SUBMISSION TO THE FULL BOARD OF TRUSTEES. THE BOARD OF TRUSTEES IS PROVIDED AMPLE TIME TO REVIEW AND COMMENT ON THE 990 BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST REVIEW VICE PRESIDENTS AND CERTAIN OTHER EMPLOYEES, PARTICULARLY EMPLOYEES INVOLVED WITH THE PROCUREMENT OF GOODS AND SERVICES, ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE FORMS TO THE GENERAL COUNSEL, AND TO SUBMIT UPDATED FORMS IN THE EVENT THAT THERE IS ANY CHANGE IN THE TIME PERIOD BETWEEN THE SUBMISSION OF THE ANNUAL FORMS. WITH RESPECT TO ANY DISCLOSED CONFLICTS, THE GENERAL COUNSEL WILL CONSULT, (AS APPROPRIATE), WITH NYIT MANAGEMENT SUCH AS THE PRESIDENT, CHIEF FINANCIAL OFFICER, INTERNAL AUDIT DIRECTOR, AND, IF NECESSARY OR ADVISABLE, THE CHAIR OF THE BOARD OF TRUSTEES AUDIT COMMITTEE. THE GENERAL COUNSEL WILL RECOMMEND TO THE PRESIDENT AND, IF INDICATED, THE CHAIR OF THE AUDIT COMMITTEE, SUCH STEPS AS MAY BE APPROPRIATE TO MANAGE THE CONFLICT OF INTEREST. ANY CONFLICTS OF INTEREST RELATING TO OFFICERS OR KEY EMPLOYEES, WHETHER REPORTED ON THE ANNUAL FORMS OR OTHERWISE, WILL BE REPORTED BY THE GENERAL COUNSEL TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW NYIT'S BOARD (ALL INDEPENDENT TRUSTEES OTHER THAN THE NYIT PRESIDENT), REVIEWS THE COMPENSATION OF NYIT'S PRESIDENT AT CONTRACT RENEWAL INTERVALS. THE LAST SUCH REVIEW WAS IN APRIL 2023, IN CONNECTION WITH CONSIDERATION OF AMENDMENTS TO THE EMPLOYMENT CONTRACT OF NYIT'S PRESIDENT. THE BOARD IS ADVISED BY INDEPENDENT COMPENSATION CONSULTANTS AND REVIEWS COMPENSATION DATA FROM SIMILAR ORGANIZATIONS TO ENSURE THAT NYIT DOES NOT COMPENSATE IN EXCESS OF MARKET NORMS. COMPENSATION OF OTHER KEY EMPLOYEES AND OFFICERS OF THE CORPORATION ARE DETERMINED UPON HIRE BY MARKET REVIEWS CONDUCTED BY THE PRESIDENT AND OTHER SENIOR MANAGERS, WHO MAY CONSULT FURTHER WITH HUMAN RESOURCES AND EXTERNAL CONSULTANTS. ANNUAL INCREASES FOR KEY EMPLOYEES AND OFFICERS ARE BASED ON BUDGET PARAMETERS AND REVIEW BY THE PRESIDENT OR HUMAN RESOURCES. CONTEMPORANEOUS SUBSTANTIATION FOR COMPENSATION LEVELS OF THE PRESIDENT, KEY EMPLOYEES OR OFFICERS WILL BE MAINTAINED BY THE OFFICE OF THE PRESIDENT OR HUMAN RESOURCES. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENT AVAILABILITY THE INSTITUTE'S FORM 990 IS AVAILABLE ON THE INTERNET AT WWW.GUIDESTAR.ORG. IN ADDITION, THE INSTITUTE MAKES A COPY OF ITS FORM 990 AVAILABLE AT ITS PLACE OF BUSINESS. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S (THE GENERAL COUNSEL) DISCRETION. FORM 990, PART XI, LINE 9: CHANGE IN POSTRETIREMENT PROGRAM -277,007.