2026-04-10T10:21:26-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 100172013 990 2024-07-01 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 2025-04-10 1 1 SCOTT THOMPSETT P00741490 2125990100 2024 2025-03-06 01:10:19Z JERRY BALENTINE NORTHERN BLVD GERRY HOUSE OLD WESTBURY NY 11568 529229190 0 X WWW.NYIT.EDU X 1955 NY WE ARE COMMITTED TO EDUCATING THE NEXT GENERATION OF LEADERS AND INSPIRING INNOVATION. 20 19 2754 0 2274102 0 10679764 9008972 351692354 354084547 12772701 8496099 6353583 10406210 381498402 381995828 80378505 86063839 0 0 164870205 171027562 353232 58323 2588902 120767152 112542184 366369094 369691908 15129308 12303920 586710960 588419128 327591757 307422520 259119203 280996608 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 344718152 86063839 349666625 SEE SCHEDULE O 5551434 0 4417922 SEE SCHEDULE O 350269586 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 1 0 0 0 0 1 316 0 1 2754 1 1 1 1 CA 0 0 0 1 1 0 0 0 0 1 0 X 20 19 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 (THRU 06/30/2025) 60.00 0.00 X X 1534600 0 51583 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 HUMAYUN CHAUDHRY TRUSTEE (AS OF 03/2025) 5.00 0.00 X 0 0 0 DOMENICK CHIECO TRUSTEE 5.00 0.00 X 0 0 0 PETER FERENTINOS TRUSTEE 5.00 0.00 X 0 0 0 ANGELA IANNACCI TRUSTEE (AS OF 03/2025) 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 VERDERAME TRUSTEE (AS OF 03/2025) 5.00 0.00 X 0 0 0 DEBORAH VOGEL TRUSTEE 5.00 0.00 X 0 0 0 ELI WACHTEL TRUSTEE (THRU 08/2024) 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 492893 0 61933 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 40.00 0.00 X 448834 0 61248 EILEEN VALERIO CONTROLLER & ASSISTANT TREASURER 40.00 0.00 X 237230 0 50629 JERRY BALENTINE PROVOST & EXECUTIVE VICE PRESIDENT 40.00 0.00 X 771043 0 78447 NICOLE WADSWORTH DEAN, COLLEGE OF OSTEOPATHIC MED. 40.00 0.00 X 486336 0 68097 JOSEPH POSILLICO VP FOR ENROLL MGMT/STRATEGIC COMM. 40.00 0.00 X 424186 0 63617 BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 40.00 0.00 X 391290 0 58805 DONALD BOOTH VP, CAPITAL PLANNING & FACILIITES 40.00 0.00 X 313679 0 61642 SHANE SPEIGHTS SITE DEAN, COLLEGE OF OSTEOPATHIC MED. 40.00 0.00 X 444202 0 75719 PATRICK MINSON VP DEV. & ALUM. RELATIONS & EXT AFF. 40.00 0.00 X 382415 0 25350 PENNIE TURGEON VP OF IT & CIO 40.00 0.00 X 438247 0 26231 ANTHONY GERDES PROFESSOR 40.00 0.00 X 367184 0 62753 MARIA RITA PERBELLINI DEAN, SCHOOL OF ARCHITECTURE/DESIGN 40.00 0.00 X 349151 0 27590 7081290 0 773644 409 0 1 0 TURNER CONSTRUCTION COMPANY 375 HUDSON STREET NEW YORK NY 10014 CONSTRUCTION 15361350 THE WHITING-TURNER CONTRACTING COMPANY 200 CROSSWAYS PARK DR WOODBURY NY 11797 CONSTRUCTION 6064558 THE LANDTEK GROUP INC 105 SWEENEYDALE AVE BAY SHORE NY 11706 CONSTRUCTION 4941892 TALISEN CONSTRUCTION CORPORATION 213 WEST 35TH STREET NEW YORK NY 10001 CONSTRUCTION 3917825 WORLDCOM EXCHANGE INC 43 NORTHWESTERN DRIVE SALEM NH 03079 IT SERVICES 3310139 135 234302 2771543 6003127 136815 9008972 TUITION AND FEES 611600 334312618 334312618 STUDENT INSUR. PREM. 900099 8231099 8231099 ROOM AND BOARD 900099 5568690 5568690 ACADEMIC/OUTREACH CENTERS 611600 4417922 4417922 STUDENT FOOD SERVICES 722320 1513136 1513136 41082 41082 354084547 5730799 -329 5731128 197 197 46250 0 46250 46250 46250 149848026 147082726 2765300 2765300 2765300 136713 234302 150636 -13923 -13923 DESEVERSKY CONF CENTER 900099 2274431 2274431 ADMIN OVERHEAD COST RECOVERY 900099 1164611 1164611 INSURANCE REIMBURS./REFUNDS 900099 777434 777434 6157210 6157210 10373686 381995828 354084547 2274102 16628207 261872 261872 85801967 85801967 3054262 813005 2241257 127840624 121985523 5088057 767044 7784029 7427521 309804 46704 22150821 21136313 881603 132905 10197826 9730766 405873 61187 377701 377701 179934 179934 12200 12200 58323 58323 618192 618192 9163209 8802041 361168 3263057 2577750 183029 502278 10222804 9253014 719679 250111 31332432 30079135 1253297 1977244 1784696 74362 118186 3722632 3360115 140004 222513 664165 638972 25193 15509004 14887821 621183 13422780 12818755 536911 67114 EQUIP. RENTAL & MAINT. 5169459 4962675 206784 HOSPITAL ROTATIONS 4263060 4092111 170949 RECRUITING EXPENSES 1815584 1815584 INTERNATIONAL PROGRAMS 877154 842068 35086 9951573 7185682 2403354 362537 369691908 350269586 16833420 2588902 144728160 91409596 4508084 3981098 4321277 4077265 3843006 3734499 2645668 3183335 383955153 179246698 149223729 204708455 131789025 137339389 16047555 17935732 129604456 122049759 586710960 588419128 37944628 24119301 24255864 27270877 108673360 107806024 156717905 148226318 327591757 307422520 X 243421306 263281830 15697897 17714778 259119203 280996608 586710960 588419128 X 12303920 9820133 -246648 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 12200 12200 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 $12,200 IN FISCAL YEAR 2025. 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). 116921221 233299 13291955 3868784 537267 126040424 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 0.89120 0.05170 0.05710 0 0 4798837 4798837 18397600 283217383 143900072 157714911 57738700 35346626 22392074 19802633 19802633 204708455 OPERATING RIGHT-OF-USE ASSETS 120924396 OTHER ASSETS 1125363 122049759 OPERATING RIGHT-OF-USE LEASE OBLIGATION 136341527 REFUNDABLE GRANTS AND US GOVERNMENT LOAN FUNDS 6895104 POST-RETIREMENT HEALTH BENEFITS 4989687 148226318 X 305395802 9820133 -85801967 -75981834 381377636 618192 618192 381995828 283271749 0 283271749 618192 85801967 86420159 369691908 PART V, LINE 4: USE OF ENDOWMENT FUNDS THE INSTITUTE'S ENDOWMENT CONSISTS OF A BOARD-DESIGNATED QUASI-ENDOWMENT, PLUS 66 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 -85,801,967. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 85,801,967. 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 HTTPS://APPS.NYIT.EDU/POLICIES/NON_DISCRIMINATION_AND_DISCRIMINATORY_HAR ASSMENT_POLICY. 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 29 PROGRAM SERVICES EDUCATION 8994304 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 15630601 1 29 0 0 1 29 24624905 0 24624905 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. 1 THOMAS HILES CONSULTING LLC 5003 THORNBROOK RIDGE COLUMBIA MO 65203 FUNDRAISING CONSULTANT 0 0 58323 -58323 58323 -58323 NY GOLF OUTING 157400 57470 99930 11166 55585 2019 FRIENDS EVENT 164000 137882 26118 401 41700 15580 1 49615 38950 10665 158 16500 7527 371015 234302 136713 11725 113785 25126 150636 -13923 SCHEDULE G, PART I NYIT PAYS 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) 11140 0 RESEARCH RESEARCH FOUNDATION OF CUNY 230 WEST 41ST STREET 7TH FLOOR NEW YORK NY 10036 131988190 501(C)(3) 18339 0 RESEARCH SANFORD BURNHAM PREBYS MEDICAL DISCOVERY INSITITUTE 10901 NORTH TORREY PINES ROAD LA JOLLA CA 920371005 510197108 501(C)(3) 36784 0 RESEARCH BOARD OF REGENTS OF THE UNIVERSITY OF WISCONSIN SYSTEM 21 N PARK STREET SUITE 6401 MADISON WI 537151218 396006492 SECTION 115 78326 0 RESEARCH ARIZONA STATE UNIVERSITY 660 SOUTH MILL AVENUE SUITE 204 TEMPLE AZ 852813670 860196696 SECTION 115 5969 0 RESEARCH THE UNIVERSITY OF UTAH 201 S PRESIDENTS CIRCLE SALT LAKE CITY UT 84112 876000525 501(C)(3) 32043 0 RESEARCH RUTGERS THE STATE UNIVERSITY OF NEW JERSEY 33 KNIGHTBRIDGE ROAD PISCATAWAY NJ 08854 226001086 501(C)(3) 73087 0 RESEARCH CURATORS OF THE UNIVERSITY OF MISSOURI 601 TURNER AVENUE TURNER AVENUE GARAGE RM 201 COLUMBIA MO 65211 436003859 501(C)(3) 6000 0 RESEARCH 8 0 SCHOLARSHIPS 4418 85801967 PART I, LINE 2: 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 (THRU 06/30/2025) 839600 0 275000 0 420000 0 24150 0 27433 0 1586183 0 240000 0 JERRY BALENTINE PROVOST & EXECUTIVE VICE PRESIDENT 714420 0 50000 0 6623 0 34500 0 43947 0 849490 0 0 0 CATHERINE FLICKINGER VP HR, GEN. COUNSEL & SECRETARY 436389 0 50000 0 6504 0 34500 0 27433 0 554826 0 0 0 NICOLE WADSWORTH DEAN, COLLEGE OF OSTEOPATHIC MED. 461078 0 25000 0 258 0 24150 0 43947 0 554433 0 0 0 SHANE SPEIGHTS SITE DEAN, COLLEGE OF OSTEOPATHIC ME 444064 0 0 0 138 0 31772 0 43947 0 519921 0 0 0 BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 392101 0 50000 0 6733 0 34500 0 26748 0 510082 0 0 0 JOSEPH POSILLICO VP FOR ENROLL MGMT/STRATEGIC COMM. 392424 0 25000 0 6762 0 24150 0 39467 0 487803 0 0 0 PENNIE TURGEON VP OF IT & CIO 380285 0 50000 0 7962 0 24150 0 2081 0 464478 0 0 0 BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 371171 0 20000 0 119 0 34500 0 24305 0 450095 0 0 0 ANTHONY GERDES PROFESSOR 362473 0 4000 0 711 0 25243 0 37510 0 429937 0 0 0 PATRICK MINSON VP DEV. & ALUM. RELATIONS & EXT AFF. 375863 0 0 0 6552 0 24150 0 1200 0 407765 0 0 0 MARIA RITA PERBELLINI DEAN, SCHOOL OF ARCHITECTURE/DESIGN 328893 0 20000 0 258 0 27590 0 0 0 376741 0 0 0 DONALD BOOTH VP, CAPITAL PLANNING & FACILIITES 306917 0 0 0 6762 0 22175 0 39467 0 375321 0 0 0 EILEEN VALERIO CONTROLLER & ASSISTANT TREASURER 224611 0 12500 0 119 0 23196 0 27433 0 287859 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 2024 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 2024, DR. FOLEY RECEIVED A $300,000 PAYOUT FROM HIS 457(F) PLAN; THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN B(III). OF THIS $300,000 PAID OUT, $240,000 WAS REPORTED AS DEFERRED COMPENSATION ON PREVIOUSLY FILED FORMS 990 AND IS THEREFORE REPORTED IN SCHEDULE J, PART II, COLUMN (F). $60,000 OF THE 457(F) PAYOUT WAS BOTH EARNED AND PAID OUT IN CALENDAR YEAR 2024. 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 2024 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 25504 FMV X OTHER 3 111311 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. 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 THE NEW YORK INSTITUTE OF TECHNOLOGY'S PRIMARY PROGRAM SERVICE IS THE PROVISION OF UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION DESIGNED TO PREPARE STUDENTS FOR SUCCESSFUL CAREERS AND MEANINGFUL CIVIC ENGAGEMENT. NYIT DELIVERS ACADEMIC INSTRUCTION THROUGH A BROAD RANGE OF DEGREE AND CERTIFICATE PROGRAMS IN FIELDS INCLUDING HEALTH SCIENCES, ENGINEERING, ARCHITECTURE AND DESIGN, COMPUTER SCIENCE, BUSINESS, EDUCATION, AND THE LIBERAL ARTS. THROUGH CLASSROOM INSTRUCTION, LABORATORY WORK, CLINICAL TRAINING, EXPERIENTIAL LEARNING, AND APPLIED RESEARCH OPPORTUNITIES, NYIT EMPHASIZES TECHNOLOGY-ENABLED EDUCATION, INNOVATION, AND REAL-WORLD PROBLEM SOLVING. THE INSTITUTION SERVES A DIVERSE STUDENT POPULATION ACROSS ITS CAMPUSES AND ONLINE PLATFORMS, PROVIDING ACCESS TO CAREER-ORIENTED EDUCATION ALIGNED WITH WORKFORCE AND SOCIETAL NEEDS. NYIT SUPPORTS STUDENT SUCCESS THROUGH ACADEMIC ADVISING, TUTORING, INTERNSHIPS, CLINICAL PLACEMENTS, AND OTHER STUDENT SUPPORT SERVICES THAT ENHANCE LEARNING OUTCOMES, RETENTION, AND DEGREE COMPLETION. FACULTY SCHOLARSHIP, RESEARCH, AND PROFESSIONAL PRACTICE FURTHER STRENGTHEN INSTRUCTIONAL QUALITY AND CONTRIBUTE TO ADVANCES IN KNOWLEDGE AND PRACTICE. DURING THE YEAR, NYIT CONFERRED DEGREES AND CREDENTIALS TO GRADUATES WHO ARE PREPARED TO CONTRIBUTE TO THEIR PROFESSIONS, COMMUNITIES, AND THE GLOBAL ECONOMY IN FURTHERANCE OF THE INSTITUTE'S EDUCATIONAL MISSION. NYIT PROVIDES UNDERGRADUATE, GRADUATE, AND DOCTORAL INSTRUCTION TO A DIVERSE STUDENT POPULATION. APPROXIMATELY 7,852 STUDENTS ATTENDED THE INSTITUTION LAST YEAR AND 2,494 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 -$32,000+ AVERAGE FINANCIAL AID AWARD FOR FIRST-TIME, FULL-TIME DEGREE-SEEKING STUDENTS AT OUR NEW YORK CAMPUSES -12:1 STUDENT-TO-FACULTY RATIO -LEADING INSTITUTION RECOGNIZED FOR THEIR EXCEPTIONAL DIVERSITY -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 NEW YORK INSTITUTE OF TECHNOLOGY OPERATES ACADEMIC HEALTH CARE CENTERS THAT SUPPORT ITS EDUCATIONAL MISSION BY INTEGRATING CLINICAL SERVICES, HEALTH PROFESSIONS EDUCATION, AND COMMUNITY OUTREACH. THESE CENTERS SERVE AS TRAINING SITES FOR STUDENTS ENROLLED IN NYIT'S MEDICAL AND HEALTH PROFESSIONS PROGRAMS, PROVIDING SUPERVISED, HANDS-ON CLINICAL EXPERIENCE IN PATIENT CARE SETTINGS. THROUGH ITS ACADEMIC HEALTH CARE CENTERS, NYIT DELIVERS HEALTHCARE SERVICES TO THE PUBLIC WHILE ADVANCING EXPERIENTIAL LEARNING FOR MEDICAL STUDENTS, RESIDENTS, AND OTHER HEALTH PROFESSIONS TRAINEES. FACULTY CLINICIANS SUPERVISE LEARNERS IN THE DIAGNOSIS, TREATMENT, AND MANAGEMENT OF PATIENTS, REINFORCING CLINICAL COMPETENCIES, ETHICAL PRACTICE, AND PATIENT-CENTERED CARE CONSISTENT WITH OSTEOPATHIC PRINCIPLES. THE CENTERS ALSO SUPPORT COMMUNITY HEALTH BY INCREASING ACCESS TO CARE, PARTICULARLY FOR UNDERSERVED AND DIVERSE POPULATIONS, AND BY EMPHASIZING PREVENTIVE CARE, WELLNESS, AND HEALTH EDUCATION. CLINICAL ACTIVITIES ARE CLOSELY ALIGNED WITH ACADEMIC CURRICULA AND ACCREDITATION REQUIREMENTS, ENSURING THAT EDUCATIONAL OBJECTIVES AND QUALITY-OF-CARE STANDARDS ARE MET. BY OPERATING ACADEMIC HEALTH CARE CENTERS, NYIT ENHANCES THE PREPARATION OF FUTURE HEALTHCARE PROFESSIONALS, CONTRIBUTES TO IMPROVED HEALTH OUTCOMES IN THE COMMUNITIES IT SERVES, AND ADVANCES ITS CHARITABLE PURPOSE THROUGH EDUCATION, CLINICAL TRAINING, AND PUBLIC SERVICE. 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 TAX 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 FALL 2024 IN CONNECTION WITH THE NEW EMPLOYMENT AGREEMENT OF JERRY BALENTINE. 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 -246,648. NYIT VENTURE FUND LLC NORTHERN BLVD OLD WESTBURY NY 11568 334316910 INVESTMENT ACTIVITIES NY 0 0 NEW YORK INSTITUTE OF TECHNOLOGY