2022-05-10T13:33:10-05:00 2021-06-30 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2020-07-01 131632522 NEW YORK COLLEGE OF PODIATRIC MEDICINE NEWY 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 AVI COHEN SR. DIRECTOR OF FINANCE 2124108100 2022-05-10 1 AVI COHEN 999009999 EVA MRUK P00543254 9143818900 2022-05-10 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z AVI COHEN 53 EAST 124TH STREET NEW YORK NY 10035 36402359 0 X WWW.NYCPM.EDU X 1911 NY NEW YORK COLLEGE OF PODIATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 11 10 210 11 0 0 1147150 1059978 14675245 13971589 1652206 2693365 1853722 2360577 19328323 20085509 810811 756096 0 0 10301410 10930747 0 0 0 7301781 9989734 18414002 21676577 914321 -1591068 51450093 55714669 14488242 16266404 36961851 39448265 X SEE SCHEDULE O 0 0 15131472 756096 13971589 NEW YORK COLLEGE OF PODATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 15131472 1 1 0 0 0 0 0 0 0 1 1 1 1 0 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 75 0 210 1 0 1 CJ 0 0 0 0 0 0 0 0 0 0 X 11 10 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X X AVI COHEN 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 LOUIS L LEVINE PRESIDENT AND CEO 40.00 10.00 X X 369874 0 30037 GABRIEL P CAPRIO CHAIRMAN 0.30 0.30 X X 0 0 0 KEITH A GREATHOUSE VICE CHAIRMAN 0.30 0.30 X X 0 0 0 ROCK G POSITANO DPM DEPUTY CHAIRMAN 0.30 0.30 X X 0 0 0 PETER J NORTON TREASURER 0.30 0.30 X X 0 0 0 WILLIAM G RAISCH SECRETARY 0.30 0.30 X X 0 0 0 ANDREW A ALBERTI BOARD MEMBER 0.30 0.00 X 0 0 0 SUSHEEL BATHLA DPM BOARD MEMBER 0.30 0.30 X 0 0 0 BENJAMIN B CHOI BOARD MEMBER 0.30 0.30 X 0 0 0 JORDAN HELLER BOARD MEMBER 0.30 0.00 X 0 0 0 KATHLEEN REILLY FALLON DPM BOARD MEMBER 0.30 0.30 X 0 0 0 MICHAEL TREPAL VP ACADEMIC AFFAIRS & DEAN 40.00 0.00 X 206019 0 53502 JOEL STURM CHIEF OPERATING OFFICER 40.00 10.00 X 205021 0 50899 AMAN SAFAEI CHIEF INFORMATION OFFICER 40.00 0.00 X 179572 0 38015 GREG ONAIFO CHIEF FINANCIAL OFFICER THRU 9/2020 40.00 10.00 X 186089 0 11501 AVI COHEN SR. DIRECTOR OF FINANCE 10.00 10.00 X 0 0 0 SANDRA DANIELS HUMAN RESOURCES 40.00 0.00 X 153696 0 11479 KEVIN JULES DIRECTOR OF SURGERY DEPT. 40.00 0.00 X 137878 0 57326 EILEEN CHUSID DEAN: PRE-CLINICAL SERVICES 40.00 0.00 X 143855 0 14806 SAMUEL ADEGBOYEGA DPM 40.00 0.00 X 167458 0 6475 RONALD SOAVE DPM 40.00 0.00 X 131028 0 37275 1880490 0 311315 24 0 1 0 SECURITY USA INC 336 WEST 37TH STREET SUITE 450 NEW YORK NY 10018 SECURITY SERVICES 535352 TOURO COLLEGE 50 W 47TH STREET 12TH FLOOR NEW YORK NY 10036 SERVICE AGREEMENT 298919 UP & DOWN CLEANING INC 521 REVERE AVE 1ST FLOOR BRONX NY 10465 CLEANING SERVICES 294688 XEROX CORPORATION PO BOX 827598 PHILADELPHIA PA 19182 PRINTER SERVICES 224738 ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI 1 GUSTAVE L LEVY PLACE NEW YORK NY 10029 STUDENT SERVICES 164331 5 747052 312926 1059978 STUDENT TUITION AND FEES 611600 11441132 11441132 RESIDENCY LECTURE 611600 1376719 1376719 CONTINUING EDUCATION 611600 744142 744142 CLINIC SERVICE 621400 409596 409596 13971589 1606786 1606786 17403429 16316850 1086579 1086579 1086579 REIMBURSEMENTS 900099 2074482 2074482 MISC. REVENUE 900099 239635 239635 PARKING LOT REVENUE 900099 46460 46460 2360577 20085509 13971589 0 5053942 756096 756096 1235131 663271 571860 7788865 5628644 2160221 327432 241518 85914 843377 602931 240446 735942 515159 220783 246960 246960 202177 141524 60653 169250 169250 132730 132730 1140967 971549 169418 37457 26220 11237 829761 580833 248928 185538 129877 55661 2266881 1586817 680064 12365 8656 3709 6649 4654 1995 82253 82253 529561 370693 158868 701294 490906 210388 BAD DEBT EXPENSE 3084728 2159310 925418 MISC. EXPENSES 181292 126904 54388 REPAIRS AND MAINTENANCE 171863 120304 51559 CAFETERIA EXPENSES 8008 5606 2402 21676577 15131472 6545105 0 257 103089 4075907 4974910 1096223 1020833 12903 0 7692 101143 23686190 19872000 4270490 3814190 34184249 37821592 4481852 5043773 3320520 2835139 51450093 55714669 2372887 2036283 2631925 2885354 5100000 7300000 4383430 4044767 14488242 16266404 X 34340999 38668104 2620852 780161 36961851 39448265 51450093 55714669 -1591068 4077482 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 999369 25000 154922 22286 1157005 946561 75000 27306 49498 999369 844755 50000 62820 11014 946561 814976 40366 10587 844755 765290 60184 10498 814976 0.25005 0.74995 0 0 236166 236166 13880695 10720029 3160666 5563897 5327603 236294 4005432 3824368 181064 3814190 INVESTMENT IN PODIA INSURANCE LIMITED 5043773 F 5043773 PERKINS LOANS RECEIVABLE 922060 F HEALTH PROF STUDENT LOAN RECEIVABLE 1508968 F LOANS FOR DISADVANTAGED STUDENTS REC. 404111 F 2835139 REFUNDABLE LOAN PROGRAMS 2173517 PAYCHECK PROTECTION PROGRAM LOAN 1871250 4044767 X 22101932 4077482 1918518 5996000 16105932 132730 3846847 3979577 20085509 19683199 4509006 4509006 15174193 132730 6369654 6502384 21676577 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. MANAGEMENT HAS DETERMINED THAT THE COLLEGE HAD NO TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE COLLEGE IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 1,918,518. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS FROM CONSOLIDATED ENTITES IN FINANCIAL STATEMENTS 1,146,517. SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 625,848. INTERNAL EXPENSE ALLOCATION REPORTED ON PART VIII, LINE 11A 2,074,482. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 4,509,006. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS FROM CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 3,669,324. SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 625,848. INTERNAL EXPENSE ALLOCATION REPORTED ON PART VIII, LINE 11A 2,074,482. 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 FINANCIAL AID ON BEHALF OF ITS STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 5043773 0 0 0 0 0 0 5043773 0 5043773 0 0 1 0 0 0 PART III ACCOUNTING METHOD: 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 122 625848 STUDENT AWARDS 221 130248 PART I, LINE 2: THE COLLEGE AWARDS MERIT-BASED SCHOLARSHIPS TO INCOMING FRESHMAN AS WELL AS CONTINUING STUDENTS. SCHOLARSHIPS AWARDED TO FRESHMAN ARE DETERMINED BY THE ADMISSIONS COMMITTEE. ELIGIBILITY FOR THESE SCHOLARSHIPS IS DETERMINED THROUGH A COMBINATION OF THEIR UNDERGRADUATE CUMULATIVE SCIENCE GPA, RANKING OF THE COLLEGE ATTENDED, AND THE SCORE ACHIEVED ON THE MCAT, A STANDARDIZED MEDICAL SCHOOL ADMISSIONS TEST. FOR CONTINUING STUDENTS, THE TOP FIVE STUDENTS WITH A CUMULATIVE GPA OF 3.7 OR HIGHER FOR EACH GRADE, 2ND, 3RD, AND 4TH YEAR STUDENTS, RECEIVE THESE SCHOLARSHIPS. THE COLLEGE DOES NOT NEED TO MONITOR THE USE OF SCHOLARSHIP 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. STUDENT AWARDS AS PART OF THE CARES ACT, THE SCHOOL RECEIVED HIGHER EDUCATION EMERGENCY RELIEF FUNDS. GRANT AWARDS WERE BASED ON STUDENT'S CURRENT ENROLLMENT STATUS. GRANT FUNDS WERE DISTRIBUTED TO STUDENTS BY POSTING THE FUNDS DIRECTLY TO THE STUDENT'S ACCOUNT. X X X X 1 0 0 0 0 0 0 0 0 LOUIS L LEVINE PRESIDENT AND CEO 362458 0 0 0 7416 0 27445 0 2592 0 399911 0 0 0 MICHAEL TREPAL VP ACADEMIC AFFAIRS & DEAN 203559 0 0 0 2460 0 21143 0 32359 0 259521 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 203755 0 0 0 1266 0 20864 0 30035 0 255920 0 0 0 AMAN SAFAEI CHIEF INFORMATION OFFICER 176210 0 0 0 3362 0 5580 0 32435 0 217587 0 0 0 GREG ONAIFO CHIEF FINANCIAL OFFICER THRU 9/2020 145278 0 0 0 40811 0 9757 0 1744 0 197590 0 0 0 KEVIN JULES DIRECTOR OF SURGERY DEPT. 137815 0 0 0 63 0 14603 0 42723 0 195204 0 0 0 SAMUEL ADEGBOYEGA DPM 167323 0 0 0 135 0 5789 0 686 0 173933 0 0 0 RONALD SOAVE DPM 129672 0 0 0 1356 0 4170 0 33105 0 168303 0 0 0 SANDRA DANIELS HUMAN RESOURCES 152355 0 0 0 1341 0 8280 0 3199 0 165175 0 0 0 EILEEN CHUSID DEAN: PRE-CLINICAL SERVICES 141689 0 0 0 2166 0 13760 0 1046 0 158661 0 0 0 PART I, LINE 4A GREG ONAIFO, CFO RECEIVED SEVERANCE OF $40,502 IN HIS 2020 W-2. 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 $246,960 WERE PAID DURING FISCAL YEAR 2021 TO TOURO. AVI COHEN, SR. DIRECTOR OF FINANCE, WHO IS LISTED IN PART VII, WAS COMPENSATED $53,452 FOR 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 15A THE CHAIRMAN OF THE BOARD ASSIGNS A COMPENSATION COMMITTEE TO REVIEW THE COMPENSATION PACKAGE OF THE PRESIDENT. THE LAST REVIEW WAS IN FISCAL YEAR 2021. THE CHAIRMAN OF THE BOARD MAKES THE FINAL DECISION AND THE RECOMMENDATION FOR A SALARY ADJUSTMENT OR CONTINUANCE IS SENT TO THE COO TO PROCESS THROUGH HUMAN RESOURCES AND PAYROLL. THE PRESIDENT/CEO HAS A THREE-YEAR CONTRACT THAT AUTOMATICALLY RENEWS FOR A THREE-YEAR PERIOD. THE CHAIRMAN WILL ASK THE COO TO RESEARCH SALARIES OF OTHER COLLEGE PRESIDENTS BASED ON NYCPM'S SIZE AND REGIONAL LOCATION. YAFFE CONSULTANTS ARE OFTEN USED. CHAIRMAN WILL ASSIGN A COMMITTEE MADE UP OF ONE OR MORE OF THE EXECUTIVE MEMBERS OF THE BOARD TO DETERMINE AN APPROPRIATE FINANCIAL PACKAGE FOR THE PRESIDENT/CEO. THE PROCESS IS USUALLY NOT PLACED IN THE MINUTES OF THE GENERAL BOARD MEETINGS, BUT THE CHAIRMAN DOES INFORM THE BOARD THAT THE PRESIDENT HAS BEEN EVALUATED. THE CONTRACT DOES NOT REQUIRE APPROVAL FROM THE ENTIRE BOARD. ALL OTHER TOP MANAGEMENT IS EVALUATED AND COMPENSATED THROUGH THE SOLE DISCRETION OF THE PRESIDENT BUT WILL TAKE ADVICE AND DIRECTION FROM THE BOARD WHEN DEEMED NECESSARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS 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 53 EAST 124TH STREET, NEW YORK, NY 10035...OR BY CALLING THE ORGANIZATION DIRECTLY AT (212)410-8100. 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 713785 5656118 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 PODIA INSURANCE LIMITED P 87500 COST