2025-05-14T21:50:03-05:00 2024-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-07-01 131632522 NEW YORK COLLEGE OF PODIATRIC MEDICINE NEWY 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 AVI COHEN SR. DIRECTOR OF FINANCE 2124108100 2025-05-14 1 1 MELISSA MODELSON P01603524 9143818900 2025-05-07 2023 2025-03-06 01:10:19Z AVI COHEN 53 EAST 124TH STREET NEW YORK NY 10035 34879868 0 X WWW.NYCPM.EDU X 1911 NY NEW YORK COLLEGE OF PODIATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 10 10 163 10 0 0 534573 341945 14062105 15953924 509782 1305219 1956293 2052140 17062753 19653228 903733 1263195 0 0 11400540 11048053 0 0 0 10972341 10121156 23276614 22432404 -6213861 -2779176 48979306 44550752 21662125 19353250 27317181 25197502 X SEE SCHEDULE O 0 0 15895659 1263195 15953924 NEW YORK COLLEGE OF PODATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 15895659 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 78 0 163 1 0 1 CJ 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NY X X AVI COHEN 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 GABRIEL P CAPRIO CHAIRMAN THRU 8/2023 0.30 0.30 X X 0 0 0 KEITH A GREATHOUSE CHAIRMAN 0.30 0.30 X X 0 0 0 WILLIAM G RAISCH SECRETARY 0.30 0.30 X X 0 0 0 JORDAN HELLER TREASURER 0.30 0.30 X X 0 0 0 ANDREW A ALBERTI ESQ BOARD MEMBER 0.30 0.30 X 0 0 0 HOWARD BARUCH MD BOARD MEMBER 0.30 0.30 X 0 0 0 JAY BIENENFELD DPM BOARD MEMBER 0.30 0.30 X 0 0 0 MARC BRENNER DPM BOARD MEMBER 0.30 0.30 X 0 0 0 KATHLEEN REILLY FALLON DPM BOARD MEMBER 0.30 0.30 X 0 0 0 WILLIAM H GRAHAM BOARD MEMBER 0.30 0.30 X 0 0 0 SUSHEEL BATHLA DPM BOARD MEMBER 0.30 0.30 X 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 40.00 10.00 X 239293 0 50148 AMAN SAFAEI CHIEF INFORMATION OFFICER 40.00 0.00 X 192209 0 31586 MICHAEL TREPAL VP ACADEMIC AFFAIRS & DEAN 40.00 0.00 X 223175 0 50637 AVI COHEN SR. DIRECTOR OF FINANCE 10.00 10.00 X 0 0 0 ALAN KADISH MD CHIEF TRANSITION OFFICER 1.00 1.00 X 0 0 0 SAMUEL ADEGBOYEGA DPM 40.00 0.00 X 169231 0 37540 LORETTA LOGAN DPM 40.00 0.00 X 149085 0 18583 KEVIN JULES DIRECTOR OF SURGERY DEPT. 40.00 0.00 X 158401 0 37825 RONALD SOAVE DPM 40.00 0.00 X 154831 0 16485 MATRONA GIAKOUMIS DPM 40.00 0.00 X 169265 0 16127 1455490 0 258931 29 0 1 0 SECURITY USA INC 336 WEST 37TH STREET SUITE 450 NEW YORK NY 10018 SECURITY SERVICES 632208 TOURO UNIVERSITY 50 W 47TH STREET 12TH FLOOR NEW YORK NY 10036 SERVICE AGREEMENT 473623 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVE SUITE 300 HARRISON NY 10528 AUDIT & TAX SERVICES 168300 OCULUSIT LLC 422 MORRIS AVE 101 SUMMIT NJ 07901 IT SERVICES 147125 XEROX CORPORATION PO BOX 202882 DALAS TX 753202882 SERVERS & SYSTEMS 126370 7 143517 198428 341945 STUDENT TUITION AND FEES 611600 13476686 13476686 RESIDENCY LECTURE 611600 1185930 1185930 CLINIC SERVICE 621400 660922 660922 CONTINUING EDUCATION 611600 630386 630386 15953924 636934 636934 22495 0 22495 22495 22495 15894925 15226640 668285 668285 668285 REIMBURSEMENTS 900099 1894332 1894332 PARKING SPACE FEES 900099 74285 74285 OTHER INCOME 900099 29026 29026 32002 32002 2029645 19653228 15953924 0 3357359 1263195 1263195 796010 453406 342604 8099587 5755388 2344199 393621 281745 111876 875951 625079 250872 882884 618019 264865 150000 105000 45000 102261 71583 30678 188140 188140 75152 75152 1369659 958761 410898 8180 5726 2454 446010 311984 134026 205270 143689 61581 2478620 1735033 743587 63679 44575 19104 27707 19395 8312 2077 2077 501971 351380 150591 977553 684287 293266 BAD DEBT EXPENSE 2902648 2031854 870794 GUEST LECTURES 282281 197597 84684 REPAIRS AND MAINTENANCE 169078 118355 50723 MISC. EXPENSES 152475 106732 45743 18395 12876 5519 22432404 15895659 6536745 0 176 176 2545959 1836155 1457804 1578124 5077 5077 94676 138382 24043717 21219668 3188537 2824049 19892097 17159611 4854777 5417457 1995543 1591354 14944660 14000367 48979306 44550752 1504721 1332381 2998385 2454131 500000 0 16659019 15566738 21662125 19353250 X 24444960 22076796 2872221 3120706 27317181 25197502 48979306 44550752 -2779176 659497 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 520398 40073 7999 552472 508774 19624 8000 520398 1157005 -30241 617990 508774 999369 25000 154922 22286 1157005 946561 75000 27306 49498 999369 0.52370 0.47630 0 0 236166 236166 13932462 11791658 2140804 7059146 6656102 403044 2815943 2771908 44035 2824049 INVESTMENT IN PODIA INSURANCE LIMITED 5417457 F 5417457 RIGHT OF USE ASSETS 14000367 14000367 REFUNDABLE LOAN PROGRAMS 642343 OPERATING LEASE LIABILITY 14924395 15566738 X 18012097 659497 2340465 2999962 15012135 75152 4565941 4641093 19653228 20169085 4717626 4717626 15451459 75152 6905793 6980945 22432404 PART V, LINE 4: THE COLLEGE'S PERMANENTLY RESTRICTED ENDOWMENTS CONSIST OF INDIVIDUAL FUNDS ESTABLISHED FOR VARIOUS PURPOSES. AS REQUIRED BY U.S. GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. INCOME GENERATED FROM PERMANENTLY RESTRICTED ENDOWMENTS IS RECORDED WITHIN TEMPORARILY RESTRICTED INVESTMENT RETURN. THE COLLEGE DOES NOT HAVE A SPENDING POLICY FOR DONOR RESTRICTED ENDOWMENTS, HOWEVER, THE COLLEGE FOLLOWS THE RESPECTIVE DONOR STIPULATIONS IN EXPENDING INCOME AND GAINS FROM ITS DONOR RESTRICTED ENDOWMENT FUNDS. PART X, LINE 2: THE COLLEGE RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. AS OF JUNE 30, 2024 AND 2023, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY UNRELATED BUSINESS INCOME TAX LIABILITIES WHICH WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 2,278,790. LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT OF RELATED ENTITY 61,675. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS FROM CONSOLIDATED ENTITES IN FINANCIAL STATEMENTS 1,423,602. SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 1,248,007. INTERNAL EXPENSE ALLOCATION REPORTED ON PART VIII, LINE 11A 1,894,332. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 4,717,626. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS FROM CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 3,763,032. SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 1,248,007. INTERNAL EXPENSE ALLOCATION REPORTED ON PART VIII, LINE 11A 1,894,332. LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT 422. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS AVAILABLE ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES APPROPRIATIONS FROM FEDERAL DEPARTMENT OF EDUCATION, LDS, HPSL, AND BUNDY ON BEHALF OF ITS STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 5417457 0 0 0 0 0 0 5417457 0 5417457 0 0 1 0 0 0 PART IV, LINE 3: THE ORGANIZATION IS REQUIRED TO FILE FORM 5471 BECAUSE IT MEETS THE APPLICABLE THRESHOLD OWNERSHIP OR OTHER FILING REQUIREMENTS. 1 MERIT-BASED SCHOLARSHIPS 171 1248007 STUDENT AWARDS 15 15188 PART I, LINE 2: THE COLLEGE AWARDS GRANTS SCHOLARSHIPS TO NEW INCOMING STUDENTS TO THE COLLEGE. GUARANTEED FOR FIRST YEAR AND MUST MAINTAIN A MINIMUM 3.4 GPA EACH ACADEMIC YEAR TO RECEIVE FOR THE FOLLOWING YEARS AND GRADUATE WITHIN 4/4.5 YEARS. THE COLLEGE DOES NOT NEED TO MONITOR THE USE OF SCHOLORSHIP FUNDS AS THOSE AMOUNTS ARE DIRECTLY SPENT TO DEFRAY THE COST OF TUITION. THERE IS NO OPPORTUNITY FOR THE FUNDS TO BE DIRECTED FOR ANOTHER PURPOSE. THESE STUDENTS ARE SELECTED BY THEIR ACADEMIC PERFORMANCE, SERVICE, AND COMMITMENT TO THE PODIATRIC PROFESSION. THROUGHOUT THE YEAR, OTHER STUDENTS RECEIVE SCHOLARSHIPS AS WELL, AS DETERMINED BY THE SCHOLARSHIP COMMITTEE. THESE STUDENTS MEET CERTAIN CRITERIA SET FORTH BY DONORS IN YEARS PAST, OR BY OUTSIDE ORGANIZATIONS THAT DONATE ANNUALLY WITH SPECIFIC CRITERIA. HERE AS WELL, THE COLLEGE DOES NOT NEED TO MONITOR THE USE OF SCHOLORSHIP FUNDS AS THOSE AMOUNTS ARE DIRECTLY SPENT TO DEFRAY THE COST OF TUITION. THERE IS NO OPPORTUNITY FOR THE FUNDS TO BE DIRECTED FOR ANOTHER PURPOSE. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 236245 0 0 0 3048 0 25000 0 25148 0 289441 0 0 0 MICHAEL TREPAL VP ACADEMIC AFFAIRS & DEAN 220356 0 0 0 2819 0 23500 0 27137 0 273812 0 0 0 AMAN SAFAEI CHIEF INFORMATION OFFICER 188457 0 0 0 3752 0 6053 0 25533 0 223795 0 0 0 SAMUEL ADEGBOYEGA DPM 169075 0 0 0 156 0 10385 0 27155 0 206771 0 0 0 KEVIN JULES DIRECTOR OF SURGERY DEPT. 157290 0 0 0 1111 0 17500 0 20325 0 196226 0 0 0 MATRONA GIAKOUMIS DPM 169265 0 0 0 0 0 4846 0 11281 0 185392 0 0 0 RONALD SOAVE DPM 153155 0 0 0 1676 0 4800 0 11685 0 171316 0 0 0 LORETTA LOGAN DPM 148293 0 0 0 792 0 15000 0 3583 0 167668 0 0 0 PART I, LINE 1A ON TRIPS THAT EXCEED FIVE HOURS, OFFICERS MAY TRAVEL FIRST CLASS. THESE AMOUNTS ARE NONTAXABLE TO THE INDIVIDUAL. FORM 990, PART III, LINE 1 IT IS THE COLLEGE'S MISSION TO PROVIDE TO STUDENTS SEEKING CAREERS AS DOCTORS OF PODIATRIC MEDICINE A COMPREHENSIVE MEDICAL EDUCATION PROGRAM SPECIALIZING IN THE MEDICAL AND SURGICAL MANAGEMENT OF THE LOWER EXTREMITY, WITH THE ABILITY TO DIAGNOSE SYSTEMATIC DISEASES AND THEIR LOWER EXTREMITY MANIFESTATIONS. THE COLLEGE WILL PREPARE STUDENTS FOR ELIGIBILITY FOR GRADUATE MEDICAL EDUCATION, LICENSURE, AND PRACTICE. FURTHERMORE, IT IS THE COLLEGE'S MISSION TO PROMOTE STATE-OF-THE-ART PATIENT CARE IN AFFILIATED FACILITIES, AND TO PURSUE RESEARCH TO CONTINUOUSLY ADVANCE THE ART AND SCIENCE OF PODIATRIC MEDICINE. THE COLLEGE ACCOMPLISHES THIS MISSION BY STRIVING TO ACHIEVE THE FOLLOWING GOALS: - PROVIDE A QUALITY EDUCATIONAL ENVIRONMENT BASED UPON COMPREHENSIVE PRE-CLINICAL AND CLINICAL SCIENCE CURRICULUM - PROVIDE SKILLED AND QUALIFIED FACULTY TO DELIVER THE EDUCATIONAL PROGRAM - RECRUIT, ACCEPT, ENROLL, AND RETAIN HIGHLY QUALIFIED STUDENTS - PROVIDE STUDENT SERVICES THAT SUPPORT THE PODIATRIC MEDICAL EDUCATIONAL PROGRAM - DEVELOP QUALITY GRADUATE MEDICAL EDUCATION LEADING TO ELIGIBILITY FOR BOARD CERTIFICATION. - PROVIDE QUALITY CONTINUING MEDICAL EDUCATION PROGRAMS - MAINTAIN EXISTING AND DEVELOP NEW AFFILIATIONS WITH ACADEMIC A INSTITUTIONS, HOSPITALS, EXTENSION/SATELLITE CLINICS AND/OR COMMUNITY HEALTH CENTERS TO ENHANCE THE EDUCATION OF OUR STUDENTS - SUPPORT PRE-CLINICAL, CLINICAL AND EDUCATIONAL RESEARCH - SERVE AS A GLOBAL RESOURCE TO PROVIDE INFORMATION AND EDUCATION ON PODIATRIC MEDICINE - ADAPT THE COLLEGE TO THE EVER-CHANGING EDUCATIONAL AND HEALTH CARE ENVIRONMENTS TO PROMOTE ITS EDUCATIONAL QUALITY AND FINANCIAL STABILITY FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE PURCHASED MANAGEMENT SERVICES FROM AN UNRELATED THIRD PARTY, TOURO COLLEGE ("TOURO"). SERVICES INCLUDED DELEGATED DIRECTOR OF FINANCE RESPONSIBILITIES. MANAGEMENT FEES TOTALING $150,000 WERE PAID DURING FISCAL YEAR 2024 TO TOURO. AVI COHEN, SR. DIRECTOR OF FINANCE, WHO IS LISTED IN PART VII, WAS COMPENSATED $97,000 FOR SERVICES RENDERED TO THE COLLEGE. ALAN KADISH, M.D., PRESIDENT OF TOURO ALSO SERVED AS CHIEF TRANSITION OFFICER DURING THE FISCAL YEAR. HE WAS NOT COMPENSATED FOR HIS SERVICES RENDERED TO THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE NEW YORK COLLEGE OF PODIATRIC MEDICINE HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, MANAGEMENT REVIEWS THE 990 AND APPROVES IT TO BE FILED WITH THE IRS. AFTER FILING THE 990 A COPY OF THE 990 IS ELECTRONICALLY SENT TO THE BOARD FOR THEIR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C PER THE COLLEGE'S POLICY, CONFLICT OF INTEREST STATEMENTS ARE PROVIDED UPON MEMBERS' ELECTION AND ARE TO BE COMPLETED AND RETURNED. WHEN CONFLICT OF INTEREST POLICIES ARE UPDATED, THE POLICIES ARE DISTRIBUTED AND IF ANY MEMBER HAS A POTENTIAL CONFLICT, A NEW CONFLICT OF INTEREST STATEMENT SHOULD BE COMPLETED AND RETURNED. BASED ON DISCRETION OF MANAGEMENT, NEW CONFLICT OF INTEREST STATEMENT MAY BE REQUIRED WHEN A POTENTIAL CONFLICT MAY BE SUSPECTED. THE ORGANIZATION, ON AN ANNUAL BASIS, HAS ITS BOARD MEMBERS, OFFICERS, AND EMPLOYEES DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. ALL POSITIVE RESPONSES TO A POSSIBLE CONFLICT OF INTEREST, BE IT FROM A BOARD MEMBER OR AN EMPLOYEE, ARE BROUGHT TO THE ATTENTION OF THE COO AND THE PRESIDENT. SHOULD IT BE A BOARD MEMBER, THE ISSUE IS ALSO BROUGHT TO THE ATTENTION OF THE CHAIR OF THE BOARD. A REVIEW IS FIRST CONDUCTED TO ASCERTAIN WHETHER THERE IS A MATERIAL CONFLICT. SHOULD THERE BE AN ISSUE, THE INDIVIDUAL IS CALLED IN TO DISCUSS THE PARTICULARS. IF IT IS DETERMINED THAT A CONFLICT EXISTS, THE ADMINISTRATION CAN OFFER THE INDIVIDUAL THE OPPORTUNITY TO CORRECT THIS MISTAKE. SHOULD THE EMPLOYEE REFUSE TO, THE ADMINISTRATION IS WELL WITHIN ITS RIGHTS TO TERMINATE THE EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15 OUR AFFILIATION WITH TOURO UNIVERSITY, TO BE FORMALIZED THIS YEAR, HAD NOTED THAT THE POSITION OF PRESIDENT AND CEO WOULD BE ELIMINATED, AND THE INCUMBENT WOULD INHERIT THE TITLE OF PRESIDENT EMERITUS WITHOUT COMPENSATION. BOARD OF TRUSTEES, LED BY THE CHAIRMAN REVIEWED SALARIES AND MADE RECOMMENDATIONS FOR ALL EMPLOYEES OF NYCPM. FORM 990, PART VI, SECTION C, LINE 19 REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. FOOT CLINICS OF NEW YORK 55 EAST 124TH STREET NEW YORK NY 10035 131655230 AMBULATORY PODIATRIC SERVICES NY 501(C)(3) LINE 10 NEW YORK COLLEGE OF PODIATRIC MEDICINE 1 PODIA INSURANCE LIMITED PO BOX 1109GT GRAND CAYMAN CJ INSURANCE CJ NEW YORK COLLEGE OF PODIATRIC MEDICINE C 749200 5972246 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 PODIA INSURANCE LIMITED P 100000 COST FOOT CLINICS OF NEW YORK L 1894332 COST