2025-05-20T10:27:21-04:00 2024-08-31 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FL NEW YORK NY 10017 990 2023-09-01 111630906 HOFSTRA UNIVERSITY % OFFICE OF FINANCIAL AFFAIRS HOFS 5164636820 128 HOFSTRA UNIV PHILLIPS HALL 100 HEMPSTEAD NY 11549 CATHERINE HENNESSY SVP FINANCIAL AFFAIR 5164636820 2025-05-14 true DANIEL ROMANO P00504182 2125429609 2023 2025-03-06 01:10:19Z SUSAN POSER PRESIDENT 128 HOFSTRA UNIV PHILLIPS HALL 100 HEMPSTEAD NY 11549 1005836098 false X www.hofstra.edu X 1935 NY INSTITUTION OF HIGHER LEARNING 29 29 5785 1400 618032 169096 55386453 58464520 558683921 588960326 39648215 58596850 -203444 -267913 653515145 705753783 199892254 215520565 0 0 291882812 300970654 420000 420000 6496016 125216796 125238018 617411862 642149237 36103283 63604546 1469859304 1597308183 395001539 391264494 1074857765 1206043689 INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS, ALONGSIDE CO-CURRICULAR, CULTURAL PROGRAMS AND ACTIVITIES. false false 526103967 210706952 543525640 Instruction and related academic support, including research and public services, sponsored programs, scholarships, fellowships and other expenses benefiting the community. (Fall 2023 full-time equivalents of 9,681) 46100284 4813613 45434686 Auxiliary enterprises, including residence halls and food service. (approximately 2,556 students in residence halls) 572204251 true true false true false true false true true true true true false false true true true false true true true false false true true false false true true true true false false false false false false false false false false true true false false false true true true false false true 534 0 true 5785 true true true false false false false true true false false false false true false X 29 29 true false false false false false false true true false false true true true true true true true true true true MD MA MI NH X OFFICE OF FINANCIAL AFFAIRS 5164636820 128 HOFSTRA UNIV PHILLIPS HALL 100 HEMPSTEAD NY 115491280 Susan Poser President 60.0 0.0 X X 1237529 0 58031 Craig Claxton Head Men's Basketball Coach 60.0 0.0 X 796549 0 114854 Catherine Hennessy SVP Finance/Treasurer 60.0 0.0 X 763748 0 87827 David Battinelli Dean, School of Medicine 60.0 0.0 X 699261 0 17107 Charles Riordan Provost 60.0 0.0 X 632680 0 13271 Alan Kelly SVP for Development 60.0 0.0 X 499362 0 104726 Jessica Eads SVP for Enroll Mgmt 60.0 0.0 X 498400 0 104662 Richard Cole VP for Athletics 60.0 0.0 X 437789 0 117777 Sina Rabbany Dean, School of Engineering 60.0 0.0 X 439401 0 111204 Jennifer Mone SVP for Legal Affairs 60.0 0.0 X 467766 0 79577 Janet Lenaghan Dean, School of Business 60.0 0.0 X 425308 0 53566 Gail Prudenti Dean, School of Law to 6/23 60.0 0.0 X 435900 0 17595 Joseph Barkwill VP for Facilities to 8/24 60.0 0.0 X 388544 0 64670 Denise Cunningham VP for HR 60.0 0.0 X 299792 0 19570 Theresa Coniglio VP Marketing & Comm 60.0 0.0 X 248849 0 38070 Cornell Craig VP Equity & Inclus eff 11/23 60.0 0.0 X 175540 0 27186 Alan J Bernon Trustee 2.0 0.0 X 0 0 0 Kenneth Brodlieb Trustee 2.0 0.0 X 0 0 0 Susan Catalano Trustee 2.0 0.0 X 0 0 0 Frederick E Davis Trustee 2.0 0.0 X 0 0 0 Michael P DeDomenico Trustee 2.0 0.0 X 0 0 0 Michael P Delaney Trustee 2.0 0.0 X 0 0 0 Craig Dempster Trustee 2.0 0.0 X 0 0 0 Arno H Fried Trustee 2.0 0.0 X 0 0 0 Dr Leo A Guthart Trustee 2.0 0.0 X 0 0 0 Peter S Kalikow Trustee 2.0 0.0 X 0 0 0 Hon Arthur J Kremer Trustee 2.0 0.0 X 0 0 0 Diana E Lake Trustee 2.0 0.0 X 0 0 0 Randy Levine Trustee 2.0 0.0 X 0 0 0 David S Mack Trustee 2.0 0.0 X 0 0 0 Kathryn V Marinello Trustee 2.0 0.0 X 0 0 0 Stella Mendes Trustee 2.0 0.0 X 0 0 0 Janis M Meyer Esq Trustee 2.0 0.0 X 0 0 0 John D Miller Trustee to 10/18/23 2.0 0.0 X 0 0 0 Marilyn B Monter Trustee 2.0 0.0 X 0 0 0 Martha S Pope Trustee 2.0 0.0 X 0 0 0 Samuel Ramos Trustee 2.0 0.0 X 0 0 0 Michael Roberge Trustee 2.0 0.0 X 0 0 0 Robert Rosenthal Trustee 2.0 0.0 X 0 0 0 Debra A Sandler Trustee 2.0 0.0 X 0 0 0 Jason M Savarese Trustee 2.0 0.0 X 0 0 0 Donald M Schaefer Trustee 3.0 0.0 X 0 0 0 Michael Seiman Trustee 2.0 0.0 X 0 0 0 Leonard Shapiro Trustee 2.0 0.0 X 0 0 0 Joseph Sparacio Trustee 2.0 0.0 X 0 0 0 Kurt A Lambert Trustee 2.0 0.0 X 0 0 0 8446418 0 1029693 714 true true false Structure Tone LLC 330 W 34th St NEW YORK NY 10001 Construction 22804035 Compass Group USA Inc 2400 Yorkmont Road CHARLOTTE NC 28217 Campus Food Provider 14783942 Michael Anthony Contracting Corp 161 Railroad Ave NEW HYDE PARK NY 11040 Construction 6276280 The LandTek Group LLC 105 Sweeneydale Ave BAY SHORE NY 11706 Turf replacement 2825650 Boilermatic Welding Industries Inc 17 Peconic Ave MEDFORD NY 11763 Repairs/Maintenance 1509878 68 1114613 10893769 46456138 27677741 58464520 TUITION & FEES 611600 518124206 518124206 SALES & SVC AUX ENT 812900 45434686 44766956 667730 SALES & SVC ED EQPT 900099 5377829 5377829 OTHER SOURCE ED SV 900099 20023605 20023605 588960326 29369756 -49698 29419454 0 0 342498 74582 267916 0 267916 267916 328240712 299013618 29227094 29227094 29227094 444986 1114613 973976 -528990 -528990 13300 20139 -6839 -6839 0 0 0 0 705753783 588292596 618032 58378635 40000 40000 215480565 215480565 0 0 6587315 1224028 4761765 601522 0 217365134 195763657 18649230 2952247 17696949 15425978 1967642 303329 44406993 37932710 5555880 918403 14914263 13086490 1596961 230812 8279786 6951694 1328092 1304331 79771 1224560 366056 25444 340612 54719 54719 420000 420000 6724685 6724685 0 1805693 434811 1362370 8512 20105174 17813128 1734338 557708 8907733 7290269 1608132 9332 0 11012838 10469710 514364 28764 13639154 13101349 322512 215293 0 603068 561945 31025 10098 6433660 6388917 44743 0 24561862 18627738 5934124 6369412 1315538 5053874 BAD DEBT AND COLLECTION COST 2570987 2570987 MEDICAL SCHOOL STIPENDS 1530469 1530469 OTHER MISC 10066407 5187069 4639342 239996 CO-SPONSORED PROGRAM EXPENSE 866114 866114 35870 35870 642149237 572204251 63448970 6496016 0 0 124836068 183751236 39215952 11277102 5839048 6364784 0 0 0 0 18501499 19189171 6975 9010 11792313 13189257 792544497 428052572 363570197 364491925 487210290 570053393 384044986 416078560 0 0 0 0 34841976 12903745 1469859304 1597308183 27651879 22574608 0 0 122587994 126985141 202454874 192982094 790452 1050053 0 0 4886287 4595791 0 0 36630053 43076807 395001539 391264494 X 682311287 740129575 392546478 465914114 1074857765 1206043689 1469859304 1597308183 X 63604546 74792471 -7211093 X false true X true true true X 32586515 45360720 38479459 55386453 58464520 230277667 0 0 32586515 45360720 38479459 55386453 58464520 230277667 27880256 202397411 14300180 12610355 15817487 24733669 29712254 97173945 9327 30985 343917 160960 170096 715285 145279 223747 441317 410442 458286 1679071 329845968 2695242091 0.61361 0.71676 X Schedule A, Part II Schedule A, Part II has been completed solely for the purposes of displaying that the University passes the Public Support test needed for the Special Rule set forth in Schedule B. Schedule A, Part II, Line 10 Other income is comprised of gross income from gaming and fundraising. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true true false true false true 54719 true 9953 true true 64672 false Schedule C, Part II-B, Line 1f The University paid membership dues to the Commission on Independent Colleges and Universities (CICU). CICU has estimated that 4.15% of its operating budget relates to lobbying activities. For the year, the portion of the dues related to lobbying activities was $2,627. 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 $52,092 to law firms to advise and lobby on NYS legislation and regulation and in addressing other state issues affecting private higher education. Schedule C, Part II-B, Line 1g Represents salary allocations for Officers, direct lobbying expenses as reported to NY State. 11 5000 53442 1372762 true true X X X false true 790452 1627533 1367932 1050053 true X 797726112 54680345 118112848 25124186 13434882 6641718 925318519 749761574 14323143 78069749 24691768 13030634 6705952 797726112 894326321 9788099 -116577073 21057867 10105298 6612608 749761574 682366337 83019727 163958813 19566548 9713591 5738417 894326321 634500609 6304649 73985715 17671122 9397529 5355985 682366337 0.53700 0.28100 0.18200 false false 15535127 15535127 641160275 338276963 302883312 93155445 57715562 35439883 42693650 32060047 10633603 364491925 ENDOWMENT-EQUITY 137904561 F ENDOWMENT-FIXED INCOME FUND 34148989 F ENDOWMENT-HEDGE FDS/PRIV EQTY 225267992 F ENDOW SPLIT INT-CASH&CASH EQUI 44575 F OTHER-CASH&CASH EQUIV 125045 F ENDOWMENT - REAL ESTATE 14602468 F OTHER-HEDGE FUND/PVT EQUITY 3984930 F 416078560 35870 OTHER LIABILITIES 8391102 US GOVT GRANTS REFUNDABLE 1047453 LIABILITY FOR POSTRETIREMENT 26876642 ASSET RETIREMENT OBLIGATION 6725740 43076807 X 559378352 74792471 1037348 75829819 483548533 6724685 215480565 222205250 705753783 420981335 1037348 1037348 419943987 6724685 215480565 222205250 642149237 Schedule D, 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 catalogued, 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. Schedule D, Part III, Line 4 The daily, annual and long-range operations of the Hofstra University Museum are consonant with the mission of the University and consistent with the governance of the University. Just as the University holds a public trust and acts for the public good pursuant to its Charter by the Regents of the University of the State of New York, so does the Hofstra University Museum hold a public trust and acts in the public good as an agency of the University through its exhibitions; its permanent collection; its public and educational programming; as well as its interpretative, scholarly activities and publications. Schedule D, Part X, Line 1 Income generated that is unrelated to the University's exempt purpose is subject to tax. The University believes it did not have any material tax liability nor any significant uncertain tax positions for the years ended August 31, 2024 and 2023. A provision for income taxes, which is considered immaterial, has been reflected in the University's financial statements. Schedule D, Part XI, Line 2 Reconciliation of Revenue - Other Represent amounts included on Line 1, but not on Form 990, Part VIII, Line 12 and is made up of the following: Rental Expenses 43,233 Gaming Expenses 20,139 Fundraising Expenses 973,976 ------------ Total 1,037,348 Part XII, Line 4b represent scholarship amounts added back on Form 990, Part VIII, Lines 2a and 2b, and is made up of the following: Tuition Scholarships 210,666,952 Auxiliary Scholarship 4,813,613 ------------- Total 215,480,565 Schedule D, Part XII, Line 2 Reconciliation of Expenses - Other represent amounts included on line 1, but not on Form 990, Part IX, Line 25 and is made up of the following: Rental Expenses 43,233 Gaming Expenses 20,139 Fundraising Expenses 973,976 ------------ Total 1,037,348 Part XII, Line 4b represent scholarship amounts included on Form 990, Part IX, Line 2, and is made up of the following: Tuition Scholarships 210,666,952 Auxiliary Scholarship 4,813,613 ------------- Total 215,480,565 Schedule D, Part I Donor Advised Funds or Other Similar Funds or Accounts 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 $1,372,762 representing 0.15% of the total endowment value at August 31, 2024. Schedule D, Part V, Line 4 Endowment Funds The University endowment funds are used to support student scholarships, professorships, facilities and other programs. Schedule D, Part IV, Line 2b Escrow and Custodial Arrangements The University maintains custody of agency funds for various student and other university related groups. true true true true true true true false false false false false false false false true false true Schedule E, Part 1, Line 3 Racially Nondiscriminatory Policy The nondiscriminatory policy is publicized through the University website including recruitment materials and student bulletins. Schedule E, Part 1, Line 6a Government Support The University received government support from Federal, New York State and local sources. false South America Program Services Recruitment 1915 East Asia and the Pacific Program Services Recruitment 24100 Middle East and North Africa Program Services Recruitment 1592 North America Program Services Recruitment 10245 South Asia Program Services Recruitment 14596 Europe (Including Iceland and Greenland) Program Services Recruitment 9318 Central America and the Caribbean Program Services Recruitment 1233 Central America and the Caribbean Program Services Study Abroad 122905 East Asia and the Pacific Program Services Study Abroad 8995 Europe (Including Iceland and Greenland) Program Services Study Abroad 424487 North America Program Services Study Abroad 800 South America Program Services Study Abroad 54258 Central America and the Caribbean Program Services Faculty Travel 4244 East Asia and the Pacific Program Services Faculty Travel 26815 Europe (Including Iceland and Greenland) Program Services Faculty Travel 87151 North America Program Services Faculty Travel 15331 South America Program Services Faculty Travel 1952 South Asia Program Services Faculty Travel 590 Sub-Saharan Africa Program Services Faculty Travel 7306 Central America and the Caribbean Investments Foreign Investments 86849825 Europe (Including Iceland and Greenland) Investments Foreign Investments 86634293 North America Program Services Research 1269 809937 173493283 174303220 true true true true true false Schedule F, Part IV The University invests in various entities directly or indirectly which may have ownership in a foreign partnership, corporation or trusts. All investments are reviewed to determine if the threshold for additional filings are triggered and, if so, such forms are prepared and attached to Form 990-T for filing. X X X X X X X true Community Counseling Service See part IV false 420000 420000 AK AR CO CT DC HI MD MA MI MS NV NH ND SC VA WA 2024 Univ Gala 762058 573958 188100 333993 183023 15857 52153 2023 Lax Golf 227845 152681 75164 8836 52178 12000 19402 9 569696 387974 181722 17637 173166 76308 29423 1559599 1114613 444986 360466 408367 104165 100978 973976 -528990 Schedule G, Part I The University retained Community Counseling Services to provide consulting services for multiple capital campaigns. true Village of Hempstead 99 Nichols Court Hempstead NY 11550 116000842 501(a) 40000 Contribution 1 Total Student Financial Aid (See Breakdown Below) Athletic Student Tuition Financial Aid 311 5933983 NA NA Undergraduate Student Tuition Financial Aid 5632 158428852 NA NA Graduate Student Tuition Financial Aid 2188 46304117 NA NA Room and Board Grants 4813613 NA NA Schedule I, Part 1, Line 2 Monitoring the Use of Grants On rare occasions, the University will match funds raised by students for worthy charitable projects. All such funds are reviewed carefully by the SVP for Student Enrollment, Engagement, and Success, and approved by the President upon the recommendation of the Student Government Association. Other grants may be permitted in furtherance of the University's mission and are approved by the President. Schedule I, Part III Grants and Other Assistance to Individuals The University has financial aid available in many forms, including scholarships and grants. The eligibility for financial aid is based upon student's achievement and promise, academic credentials and financial need. Schedule I, Part III, Line 5 For the room and board grant amounts, the number of recipients is not disclosed as these students are already included in Lines 2, 3 and 4. X X X X true true X X X X X true false false false false false false false false Susan Poser President 784567 150000 302962 16500 41531 1295560 Charles Riordan Provost 500775 100000 31905 12664 607 645951 Catherine Hennessy SVP Finance/Treasurer 597006 100000 66742 46296 41531 851575 Alan Kelly SVP for Development 418509 50000 30853 46296 58430 604088 Jessica Eads SVP for Enroll Mgmt 416942 50000 31458 52763 51899 603062 Jennifer Mone SVP for Legal Affairs 392792 50000 24974 38046 41531 547343 Richard Cole VP for Athletics 327155 50000 60634 18395 99382 555566 Joseph Barkwill VP for Facilities to 8/24 328385 50000 10159 46296 18374 453214 Denise Cunningham VP for HR 278153 5000 16639 18396 1174 319362 Theresa Coniglio VP Marketing & Comm 224851 5000 18998 38070 286919 Janet Lenaghan Dean, School of Business 403617 21691 52650 916 478874 Craig Claxton Head Men's Basketball Coach 620833 27500 148216 114854 911403 Gail Prudenti Dean, School of Law to 6/23 214209 221691 17137 458 453495 Sina Rabbany Dean, School of Engineering 415713 23688 52703 58501 550605 Cornell Craig VP Equity & Inclus eff 11/23 173447 2093 8900 18286 202726 David Battinelli Dean, School of Medicine 679500 19761 16500 607 716368 Schedule J, Part I, Line 1a Officer Compensation All items identified on Line 1a are included as compensation on both the employee's W2 and on Form 990, Schedule J. By contract, the President may travel business class for flights over two hours. In addition, the men's basketball coach and athletic director flew with the team on a charter flight. Schedule J, Part I, Line 1b Payments or reimbursements are pursuant to written agreements. Schedule J, Part II The president is a nonvoting member of the Board of Trustees. An employee listed was separated during the year and the amount is included in column B(iii) as required. Schedule J, Part II, Items C and D Compensation In accordance with IRS regulations, items reported in columns C and D include University contributions to group retirement and nontaxable group benefits paid by the University. These items include the University's contribution to a qualified 403(b) plan, with contributions varying based on length of service, as limited by IRS regulations; the University-paid portion of group health care benefits (cost vary by employee selected plan); and the University-paid costs of other nontaxable benefits including life and disability insurance, and tuition payments. All group benefits apply equally to all non union employees or as set forth in collective bargaining agreements. The University contributes to retiree health and life benefits for former employees, including former officers, based on retirement date which varies by unit. A Town of Hempstead LDC Series 2013 112798949 424682ED0 2013-06-20 70200775 Refinance 2003 Bonds & New Facilit false false false B Town of Hempstead LDC Series 2017 112798949 424682HC9 2017-05-17 61034262 Refinance 2007 Bonds & New Facilit false false false C Town of Hempstead LDC Series 2021A 112798949 424682LY6 2021-05-27 105627965 Refinance 2011 Bonds & New Facilit false false false A 23370000 0 70223624 0 2750159 0 796615 0 0 27524247 39152303 0 2015 true false true true B 6665000 0 61776446 0 2567114 0 811580 0 0 38960878 19436875 0 2020 true false true true C 15505000 0 107280797 0 2219153 0 1068170 0 0 41173858 60245000 2574615 true false false true A false true true true true true 0 false false false true B false true true true false 0 false false false true C false true true true false 0 false false false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false true false false false false 0 false 0 false true A true B true C true Part II, Line 3 Includes investment earnings on bond proceeds through 8/31/24. Part III, Lines 4,5, and 6 For bonds issued after 2002, the university computes private business use separately for each bond issue, whether financed or not, under the multipurpose allocation exception. On Schedule K, for each outstanding bond issue, the private business use is computed and reported on a combined basis, with the refinancings. Part IV, Line 2c ARBITRAGE CALCULATION DATES A. 2013 TOWN OF HEMPSTEAD LDC - MAY 31, 2024 B. 2017 TOWN OF HEMPSTEAD LDC - MAY 31, 2024 C. 2021A TOWN OF HEMPSTEAD LDC - MAY 31, 2024 X NA X 29 27677741 FMV OF STOCK X 9 NA X Event Supplies 114 0 NA X Equipment (Academic) 4 0 NA 0 false true false Schedule M, Part I, Line 33 Noncash Gifts See statement for Schedule D, Part III, Line 1a with regards to works of art. There were no works for art to be reported for 2024. 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. Gifts-in-kind are not assigned a value and not recorded on the University's financial system. 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. Form 990, Part IV, Line 16 The University provided financial assistance of $8,186,274 to certain international students attending Hofstra. This assistance is included on Schedule I, Part III as Assistance to Individuals in the United States, as the students attended classes within the United States. All amounts provided are credited to the students US based Hofstra accounts. Form 990, Part VI, Line 2 As reflected on statements filed annually with the University, other than listed below, 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 any other such entity through family or business relationships. John Miller, who resigned from the Board of Trustees in October 2023, reported that he has an investment in a fund in which Trustee Guthart is a principal. Robert Rosenthal, who resigned from the Board of Trustees in October 2024, reported that he is Chairman, CEO and Chief Investment Officer of a firm that acts as investment advisor to a trust in which Trustee Shapiro has an interest. Form 990, Part VI, Line 4 The Bylaws of the University were last amended by the Board of Trustees on June 18, 2024. Form 990, Part VI, Line 11b Form 990 is prepared by the University, and reviewed by an outside tax consultant. The SVP for Financial Affairs and Treasurer also reviews the return with the President and the SVP 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. 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. Disclosures are brought to the attention of the Audit Committee of the Board of Trustees. In addition, there is a conflict of interest policy for all administrative employees and certain union 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. 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 the compensation of the President and officers and other key employees. The Committee assesses and approves the reasonableness of the compensation of the President; compensation for other officers are recommended by the President to the Compensation Committee of the Board of Trustees on an annual basis. As part of the annual review, the University provides the necessary data including peer comparisons compiled from 990 tax return disclosures 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 party 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. The Committee reviews its determinations with the Board of Trustees. 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. Form 990, Part VI, Line 19 As a private University, governing documents, conflict of interest policy and financial statements are not required to be made available to the public. However, the University Bylaws and the Conflict of Interest Policy are available on the University website. In addition, the University's Form 990 (which includes financial data) is made available upon request. Form 990, Part XI, Line 9 Other changes in net assets are made up of the following: Postretirement Changes other than net periodic benefit costs (5,718,798) Other components of net periodic benefit costs (1,397,139) Bad Debt on Pledges (95,156) --------------- ($7,211,093) Community Legal Assistance Corporation 108 Hofstra University Hempstead NY 11549 112267282 Education NY 501(c)(3) 11(a) na true Charitable Remainder Unitrust (2) 128 Hofstra University Hempstead NY 11549 TRUST NY NA TRUST Charitable Remainder Annuity Trust (3) 128 Hofstra University Hempstead NY 11549 TRUST NY NA TRUST false false false false false false false false false false false false true true false false false false Community Legal Assistance Corporation N,O See Part VII Schedule R, Part V, Line 2 Related Tax Exempt Organizations In furtherance of Hofstra University's educational mission, the related entity has been formed pursuant to the Not-For-Profit Corporation Law of New York State. The related entity does not have separate facilities or employees and their activities are included in Hofstra University's financial statements. The related entity provides educational opportunities for law students and services for the underprivileged under the supervision of attorneys to the extent permitted under the New York Judiciary Law.