2020-06-25T14:54:56-05:00 2019-06-30 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2018-07-01 131632522 NEW YORK COLLEGE OF PODIATRIC MEDICINE NEWY 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 GREG ONAIFO CFO 2124108100 2020-06-25 1 GARRETT M HIGGINS P00543209 9143818900 2020-06-25 24.190.81.239 2020-06-25 14:54:50 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9616F4B14A694591D1E716C270910E6FA5556DA3 2018 2021-01-29 14:40:06Z LOUIS L LEVINE 53 EAST 124TH STREET NEW YORK NY 10035 26514175 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 10 116 11 0 0 724845 644252 14978812 15042415 2589232 1719081 281788 375752 18574677 17781500 822522 777874 0 0 7286774 7449343 0 0 0 7563172 8364192 15672468 16591409 2902209 1190091 53642518 53352214 14162284 14209147 39480234 39143067 X SEE SCHEDULE O 0 0 11696967 777874 15042415 NEW YORK COLLEGE OF PODATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 11696967 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 1 103 0 116 1 0 1 CJ 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X X GREG ONAIFO 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 LOUIS L LEVINE PRESIDENT AND CEO 40.00 10.00 X X 328500 0 27884 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 ALTERTI BOARD MEMBER 0.30 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 X 0 0 0 KATHLEEN REILLY FALLON DPM BOARD MEMBER 0.30 0.30 X 0 0 0 HALINA M SEMLA-PULASKI DPM BOARD MEMBER (THRU 2/15/19) 0.30 0.30 X 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 40.00 10.00 X 176903 0 35301 GREG ONAIFO CHIEF FINANCIAL OFFICER 40.00 10.00 X 154933 0 11010 KEVIN JULES DIRECTOR OF SURGERY DEPT. 40.00 X 130547 0 39754 MICHAEL TREPAL VP OF ACADEMIC AFFAIRS & DEAN 40.00 X 188321 0 47068 AMAN SAFAEI CHIEF INFORMATION OFFICER 40.00 X 164801 0 23427 ROBERT ECKLES DEAN OF GRADUATE MEDICAL EDUCATION 40.00 X 140976 0 16651 EILEEN CHUSID DEAN OF PRE-CLINICAL SERVICES 40.00 X 129620 0 14539 LISA LEE DEAN OF STUDENT SERVICES 40.00 X 125907 0 14232 1540508 0 229866 18 0 1 0 SECURITY USA INC 336 WEST 37TH STREET SUITE 450 NEW YORK NY 10018 SECURITY SERVICES 540959 SANMAR BUILDING SERVICES LLC 134 WEST 29TH STREET SUITE 704 NEW YORK NY 10001 CLEANING SERVICES 258911 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE SUITE 300 HARRISON NY 10528 AUDIT AND ACCOUNTING 165450 AD TECH SYSTEMS 490 BOSTON POST ROAD SADBURY MA 01776 COMPUTER SUPPORT 113033 4 224420 419832 644252 STUDENT TUITION AND FEES 611600 12593135 12593135 RESIDENCY LECTURE 611600 1108452 1108452 CLINIC SERVICE 621400 685666 685666 RESIDENCY PROGRAM 611600 501467 501467 CONTINUING EDUCATION 611600 153695 153695 15042415 1334826 1334826 101020 0 101020 101020 101020 9116930 8732675 384255 384255 384255 BAD DEBT RECOVERY 900099 175499 175499 PARKING LOT REVENUE 900099 55220 55220 MISC. REVENUE 900099 39013 39013 5000 5000 274732 17781500 15042415 0 2094833 777874 777874 955494 668847 286647 4953360 3467352 1486008 345782 242047 103735 534706 374294 160412 660001 462001 198000 102923 72046 30877 133760 133760 131787 131787 1060797 742558 318239 77432 54202 23230 509258 356481 152777 60002 42001 18001 2578088 1804662 773426 147257 103080 44177 111258 77881 33377 241793 241793 584933 409453 175480 350940 245658 105282 REPAIRS AND MAINTENANCE 788788 552152 236636 STUDENT CLINIC TRAINING 682523 682523 GUEST LECTURES 515529 360870 154659 EQUIPMENT RENTAL 131654 92158 39496 155470 108827 46643 16591409 11696967 4894442 0 756 1363 2321554 2843395 849160 514974 21078 20512 113810 40579 23352397 18789408 4901762 4562989 37228989 37352443 3921875 4168784 4283534 3847175 53642518 53352214 1648976 2046491 3325259 3124607 5200000 5050000 3988049 3988049 14162284 14209147 X 37064753 36542448 2226167 2411305 189314 189314 39480234 39143067 53642518 53352214 X 1190091 1551369 -75 -3078552 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 844755 50000 62820 11014 946561 814976 40366 10587 844755 765290 60184 10498 814976 743670 32028 10408 765290 730866 23030 10226 743670 0.20000 0.80000 0 0 236166 236166 13848580 9997173 3851407 5407594 5016931 390663 3860057 3775304 84753 4562989 INVESTMENT IN PODIA INSURANCE LIMITED 4168784 F 4168784 STUDENT LOAN RECEIVABLES 3847175 F 3847175 REFUNDABLE LOAN PROGRAMS 3988049 3988049 X 18867548 1551369 2121649 3673018 15194530 2586970 2586970 17781500 19225016 4973668 4973668 14251348 2340061 2340061 16591409 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. IN SEPTEMBER 2010, THE STATE OF NEW YORK PASSED THE NEW YORK UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT ("NYPMIFA"), A VERSION OF THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT ("UPMIFA"). ALL NOT-FOR-PROFIT ORGANIZATIONS FORMED IN NEW YORK MUST APPLY THIS LAW. 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, 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 2,121,649. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY RECLASSED TO PART VIII, LINE 11 175,499. SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 621,372. ELIMINATIONS FROM CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 1,790,099. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 4,973,668. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY RECLASSED TO PART VIII, LINE 11 175,499. SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 621,372. ELIMINATIONS FROM CONSOLIDATED ENTITES IN FINANCIAL STATEMENTS 1,543,190. 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 AS WELL AS INCLUDED IN ITS ACADEMIC CATALOG. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID ON BEHALF OF ITS STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 4168784 0 0 0 0 0 0 4168784 0 4168784 0 0 1 0 0 0 PART IV, LINE 3: THE ORGANIZATION IS REQUIRED TO FILE FORM 5471 BECAUSE IT DOES MEET THE APPLICABLE THRESHOLD OWNERSHIP OR OTHER FILING REQUIREMENTS. 1 MERIT-BASED SCHOLARSHIPS 135 621372 FINANCIAL AID 73 156502 PART I, LINE 2: THE COLLEGE AWARDS MERIT-BASED SCHOLARHSIPS 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. X X X X 0 0 0 0 0 0 0 0 0 LOUIS L LEVINE PRESIDENT AND CEO 328500 0 0 0 0 0 26000 0 1884 0 356384 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 175820 0 0 0 1083 0 18864 0 16437 0 212204 0 0 0 GREG ONAIFO CHIEF FINANCIAL OFFICER 154639 0 0 0 294 0 9510 0 1500 0 165943 0 0 0 KEVIN JULES DIRECTOR OF SURGERY DEPT. 129783 0 0 0 764 0 14163 0 25591 0 170301 0 0 0 MICHAEL TREPAL VP OF ACADEMIC AFFAIRS & DEAN 187136 0 0 0 1185 0 20143 0 26925 0 235389 0 0 0 AMAN SAFAEI CHIEF INFORMATION OFFICER 161677 0 0 0 3124 0 5325 0 18102 0 188228 0 0 0 ROBERT ECKLES DEAN OF GRADUATE MEDICAL EDUCATION 140131 0 0 0 845 0 8796 0 7855 0 157627 0 0 0 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 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 2019. 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 PROCESS IS DONE APPROXIMATELY EVERY THREE YEARS, BUT CAN BE EARLIER IF APPROVED BY THE CHAIRMAN. THE CHAIRMAN WILL COSIGN WITH THE PRESIDENT AND CEO A NEW CONTRACT, USUALLY WITH A THREE YEAR TERM. 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 NECCESSARY. 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 XI, LINE 9: RESERVE OF DUE FROM RELATED PARTY RECEIVABLE -3,078,552. 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 428596 4885674 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