2017-05-12T10:28:43-05:00 2016-06-30 420714325 RSM US LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2015-07-01 237227990 BROOKLYN LAW SCHOOL BROO 7186252200 250 JORALEMON STREET BROOKLYN NY 112013700 LAURIE H NEWITZ CFO 7186252200 2017-05-12 1 LYNNE JOHNSON P00757336 2123721000 2015 2021-01-29 14:40:06Z NICHOLAS W ALLARD 250 JORALEMON STREET BROOKLYN NY 112013700 156381147 0 X WWW.BROOKLAW.EDU X 1901 NY SEE SCHEDULE O FOR COMPLETE NARRATIVE 18 18 960 1757 0 0 3455629 2455825 59222189 56674184 6309875 39464717 3793122 3700167 72780815 102294893 28330614 28885389 0 0 34074126 33140400 0 0 2290274 14021025 14720191 76425765 76745980 -3644950 25548913 246871229 264352527 57831922 56675136 189039307 207677391 X SEE SCHEDULE O FOR COMPLETE NARRATIVE 0 0 63621885 28885389 57279665 THE EDUCATION OF STUDENTS IN PREPARATION FOR THE LEGAL PROFESSION. IN THE FALL OF ACADEMIC YEAR 2015/2016 ENROLLMENT WAS APPROXIMATELY 1,175. 63621885 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 319 0 1 960 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X LAURIE H NEWITZ 7186252200 250 JORALEMON STREET BROOKLYN NY 11201 X STUART SUBOTNICK ESQ CHAIRPERSON OF THE BOARD OF TRUSTEES 1.00 X 0 0 0 FRANCIS J AQUILA ESQ VICE CHAIRPERSON OF THE BOARD 1.00 X 0 0 0 BURNSIDE E ANDERSON III ESQ TRUSTEE 1.00 X 0 0 0 DAVID M BARSE ESQ TRUSTEE 2.00 X 0 0 0 FREDERICK COHEN ESQ TRUSTEE 2.00 X 0 0 0 JEFFREY J FEIL ESQ TRUSTEE 1.00 X 0 0 0 MARTIN A FISCHER ESQ TRUSTEE 1.00 X 0 0 0 JEFFREY D FORCHELLI ESQ TRUSTEE 1.00 X 0 0 0 DEBRA HUMPHREYS ESQ TRUSTEE 1.00 X 0 0 0 ROBERT M KAUFMAN ESQ TRUSTEE 1.00 X 0 0 0 HON CLAIRE R KELLY TRUSTEE 1.00 X 0 0 0 EILEEN T NUGENT ESQ TRUSTEE 1.00 X 0 0 0 JOHN P OSWALD ESQ TRUSTEE 1.00 X 0 0 0 MANUEL H QUINTANA ESQ TRUSTEE 1.00 X 0 0 0 FLORENCE SUBIN ESQ TRUSTEE 1.00 X 0 0 0 STEVEN L ZELKOWITZ ESQ TRUSTEE 1.00 X 0 0 0 CELINE J CHAN ESQ GRADUATE TRUSTEE 1.00 X 0 0 0 STEPHEN POPERNIK ESQ GRADUATE TRUSTEE 1.00 X 0 0 0 SASHA LINNEY ESQ GRADUATE TRUSTEE (UNTIL DEC. 2015) 1.00 X 0 0 0 TYLER KORFF ESQ GRADUATE TRUSTEE (UNTIL DEC. 2015) 1.00 X 0 0 0 NICHOLAS W ALLARD ESQ DEAN 40.00 X 505544 0 98934 LINDA S HARVEY COO AND CHIEF OF STAFF 40.00 X 223442 0 27163 LAURIE H NEWITZ TREASURER & CHIEF FINANCIAL OFFICER 40.00 X 282964 0 62867 WILLIAM ARAIZA VICE DEAN OF ACADEMIC AFFAIRS 40.00 X 282768 0 44216 STACY CAPLOW ASSOC. DEAN FOR PROF. LEGAL ED. 40.00 X 261235 0 31696 STEPHANIE VULLO ESQ GENERAL COUNSEL AND CCO 40.00 X 188567 0 53236 AARON TWERSKI PROFESSOR OF LAW 40.00 X 346377 0 56727 ANITA BERNSTEIN PROFESSOR OF LAW 40.00 X 281157 0 43883 JOEL M GORA PROFESSOR OF LAW 40.00 X 276065 0 60639 LAWRENCE SOLAN PROFESSOR OF LAW 40.00 X 268590 0 43358 NEIL B COHEN PROFESSOR OF LAW 40.00 X 265265 0 63609 MICHAEL T CAHILL FORMER VICE DEAN ACAD. AFFAIRS & DEV 40.00 X 222226 0 60195 DANA BRAKMAN-REISER FORMER VICE DEAN STUDENT AFFAIRS 40.00 X 221051 0 72320 JOAN G WEXLER FORMER PRESIDENT 40.00 X 250812 0 94107 BERYL R JONES-WOODIN FORMER ASSOC. DEAN STUDENT AFFAIRS 40.00 X 169586 0 53517 MICHAEL A GERBER FORMER INTERIM DEAN & ASSOC DEAN DEV. 40.00 X 252909 0 60897 HENRY W HAVERSTICK III FORMER DEAN ADMISSION & FIN. AID 40.00 X 130251 0 20330 4428809 0 947694 73 1 1 0 TRIANGLE SERVICES 10 FIFTH STREET VALLEY STREAM NY 11581 CLEANING SERVICES 756364 DNP BUILDERS LLC 133 WEST 25TH ST 6E NEW YORK NY 10017 CONTRACTOR 501323 JP MORGAN CHASE 270 PARK AVE NEW YORK NY 10017 INVESTMENT ADVISOR 399224 EURO ART CONSTRUCTION 1631 GEORGE ST RIDGEWOOD NY 11385 CONTRACTOR 374795 STERLING AFFAIR 100 COMMERCE RD CARLSTADT NJ 07072 FOOD/CATERING 280867 17 5808 2450017 109322 2455825 TUITION & FEES 611310 56603945 56603945 FINANCIAL AID PROGRAMS 611310 66707 66707 STUDENT LOAN INTEREST 900099 3532 3532 56674184 3938234 3938234 7806378 4711692 3094686 3094686 3094686 47335944 37565101 46069058 3305504 1266886 34259597 35526483 35526483 SETTLEMENTS/OTHER REFUNDS 900099 352077 352077 PUBLICATION/COURSE MATERIALS 900099 80212 80212 ALUMNI PROGRAMS 900099 79549 79549 93643 93643 605481 102294893 57279665 0 42559403 28885389 28885389 2297800 1057887 856150 383763 779105 779105 22470347 19182934 2357614 929799 1593355 1360247 167177 65931 4211852 3595658 441912 174282 1787941 1526365 187593 73983 188225 188225 117672 117672 461066 461066 623253 141122 430098 52033 266638 194751 33349 38538 936242 401535 398365 136342 876962 623670 192982 60310 2494332 102349 2391983 414047 332582 20725 60740 1042123 815712 53028 173383 1966233 1624659 285388 56186 2363431 1952859 343037 67535 412658 39343 373315 LIBRARY ACQUISTIONS/AUD 922349 920599 700 1050 LOAN/DATA PROCESSING/SB 504827 411310 92448 1069 BAD DEBT EXPENSE 462654 462654 SUBCRIPTIONS & PUBLICAT 156785 147237 4488 5060 510694 305677 194747 10270 76745980 63621885 10833821 2290274 1600 1600 11282684 15566144 2562566 1640585 430233 782005 159672 160838 492496 591837 154150730 53465667 104078307 100685063 120437741 138588850 632573 317091 6793357 6018514 246871229 264352527 7864307 8350709 1144741 1001644 40474871 39379022 8348003 7943761 57831922 56675136 X 150795172 170720314 20411416 18592947 17832719 18364130 189039307 207677391 246871229 264352527 X 25548913 -6387185 -523644 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 77350 X X 0 129836298 33122435 -1193251 10500811 151264671 133265987 2965645 2644453 9039787 129836298 117055082 3790548 17218471 4798114 133265987 105828691 4029911 11713688 4517208 117055082 93803704 4618824 11426408 4020245 105828691 0.77480 0.12090 0.10430 0 0 8074092 8074092 144173535 52733824 91439711 1825753 731843 1093910 77350 77350 100685063 INTEREST PAYABLE 1051150 ACCRUED POST-RETIREMENT BENEFITS PAYABLE 6892611 7943761 X 73141013 -6387185 11000 -27489387 -33865572 107006585 -4711692 -4711692 102294893 54502929 11000 4711692 4722692 49780237 26965743 26965743 76745980 PART III, LINE 4: THE COLLECTION OF ART ARE DONATIONS REPRESENTING VARIOUS ASPECTS OF THE PRACTICE OF LAW. PART V, LINE 4: THE LAW SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE LAW SCHOOL MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) OR PURPOSE AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE OVERRIDING OBJECTIVE IS TO MAINTAIN PURCHASING POWER. NET OF SPENDING, THE OBJECTIVE IS TO GROW THE AGGREGATE PORTFOLIO VALUE AT THE RATE OF INFLATION OVER THE LAW SCHOOL'S INVESTMENT HORIZON. PART X, LINE 2: THE LAW SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. THE LAW SCHOOL IS SUBJECT TO TAXES ON UNRELATED BUSINESS INCOME. THE LAW SCHOOL FILES TAX AND INFORMATION RETURNS WITH THE INTERNAL REVENUE SERVICE AND WITH NEW YORK STATE. TAX YEARS SUBSEQUENT TO 2012 REMAIN SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE LAW SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE LAW SCHOOL HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. AT JUNE 30, 2016, THE LAW SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AND HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO TAXES DURING EITHER OF THE YEARS ENDED JUNE 30, 2016 AND 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE - NET IN TUITION & FEES -26,965,743. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 312,708. OTHER POST-RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS -836,352. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B -4,711,692. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B 4,711,692. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE - NET IN TUITION & FEES 26,965,743. 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 POLICY IS PUBLISHED ON THE BROOKLYN LAW SCHOOL WEBSITE. SCHEDULE E, PART I, LINE 6 FINANCIAL AID FROM GOVERNMENT AGENCIES: 1) FEDERAL PERKINS LOAN PROGRAM 2) FEDERAL WORK STUDY PROGRAM 3) FEDERAL DIRECT LOAN PROGRAM EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES INTERNATIONAL STUDY ABROAD 34010 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES INTERNATIONAL STUDY ABROAD 61229 0 0 0 0 0 0 95239 0 95239 0 0 0 0 0 0 1 SCHOLARSHIPS 1130 26965743 FELLOWSHIPS 291 867710 LOAN FORGIVENESS 67 329361 PRIZES AND AWARDS 93 35400 736 FMV PLAQUES, MEDALS AND LETTER OPENERS FWS MATCH - OUTSIDE MATCH 349 134716 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED TO STUDENTS ATTENDING BROOKLYN LAW SCHOOL AND ARE A DIRECT OFFSET OF TUITION. FELLOWSHIPS ARE AWARDED TO STUDENTS UNDER STRICT SELECTION CRITERIA. LOAN FORGIVENESS ARE PAID DIRECTLY TO THE LENDER OR REQUIRES PROOF OF DEBT REDUCTION FROM THE STUDENT. SCHEDULE I, PART III: THE DIFFERENCE BETWEEN THE TOTAL AMOUNTS REPORTED HERE AND ON FORM 990, PART IX, LINE 2 IS DUE TO THE ACCRUAL OF SCHOLARSHIP EXPENSES FOR LRAP II. LRAP II IS DESIGNED TO SUPPORT PRINCE AND CARSWELL MERIT SCHOLARSHIP GRADUATES WHO MAY TAKE LONGER IN THEIR JOB SEARCH TO FIND MEANINGFUL EMPLOYMENT. UNDER THE PROGRAM, IF THESE GRADUATES HAVE NOT FOUND FULL-TIME PROFESSIONAL POSITIONS NINE MONTHS AFTER GRADUATION, THEY WILL RECEIVE A LUMP SUM PAYMENT OF THEIR TOTAL OUT-OF-POCKET TUITION COSTS PAID WHILE ATTENDING THE LAW SCHOOL. (NOTE: THIS PROGRAM WAS DISCONTINUED FOR THE ENTERING CLASS OF 2016 AND BEYOND). THERE WERE NO PAYMENTS MADE IN FY16. X X X 1 1 X X X 0 0 0 0 0 0 0 1 1 0 NICHOLAS W ALLARD ESQ DEAN 500000 0 0 0 5544 0 26500 0 72434 0 604478 0 0 0 LINDA S HARVEY COO AND CHIEF OF STAFF 220276 0 0 0 3166 0 22115 0 5048 0 250605 0 0 0 LAURIE H NEWITZ TREASURER & CHIEF FINANCIAL OFFICER 277420 0 0 0 5544 0 26500 0 36367 0 345831 0 0 0 WILLIAM ARAIZA VICE DEAN OF ACADEMIC AFFAIRS 248802 0 0 0 33966 0 25549 0 18667 0 326984 0 0 0 STACY CAPLOW ASSOC. DEAN FOR PROF. LEGAL ED. 250639 0 0 0 10596 0 25218 0 6478 0 292931 0 0 0 STEPHANIE VULLO ESQ GENERAL COUNSEL AND CCO 187116 0 0 0 1451 0 19190 0 34046 0 241803 0 0 0 AARON TWERSKI PROFESSOR OF LAW 308331 0 0 0 38046 0 26500 0 30227 0 403104 0 0 0 ANITA BERNSTEIN PROFESSOR OF LAW 265725 0 0 0 15432 0 26500 0 17383 0 325040 0 0 0 JOEL M GORA PROFESSOR OF LAW 258503 0 0 0 17562 0 26500 0 34139 0 336704 0 0 0 LAWRENCE SOLAN PROFESSOR OF LAW 238847 0 0 0 29743 0 24452 0 18906 0 311948 0 0 0 NEIL B COHEN PROFESSOR OF LAW 253221 0 0 0 12044 0 26477 0 37132 0 328874 0 0 0 MICHAEL T CAHILL FORMER VICE DEAN ACAD. AFFAIRS & DEV 202093 0 0 0 20133 0 21541 0 38654 0 282421 0 0 0 DANA BRAKMAN-REISER FORMER VICE DEAN STUDENT AFFAIRS 202412 0 0 0 18639 0 21696 0 50624 0 293371 0 0 0 JOAN G WEXLER FORMER PRESIDENT 250812 0 0 0 0 0 25250 0 68857 0 344919 0 0 0 BERYL R JONES-WOODIN FORMER ASSOC. DEAN STUDENT AFFAIRS 165777 0 0 0 3809 0 17699 0 35818 0 223103 0 0 0 MICHAEL A GERBER FORMER INTERIM DEAN & ASSOC DEAN DEV 242241 0 0 0 10668 0 25306 0 35591 0 313806 0 0 0 HENRY W HAVERSTICK III FORMER DEAN ADMISSION & FIN. AID 130251 0 0 0 0 0 13154 0 7176 0 150581 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: A. REIMBURSEMENT OF TRAVEL EXPENSES FOR A COMPANION WHICH OCCURS OCCASIONALLY IS PAID ONLY IF THE TRAVEL EXPENSE QUALIFIES AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: B. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT/DEAN IS REQUIRED TO HAVE A HOME ON THE LAW SCHOOL'S CAMPUS WHICH IS FURNISHED AND MAINTAINED AT THE LAW SCHOOL'S EXPENSE. PERSONAL SERVICE: C. THE LAW SCHOOL PROVIDES CLEANING SERVICES TO THE FORMER PRESIDENT IN ACCORDANCE WITH AN AGREEMENT WHEREBY SHE CONTINUES TO RESIDE IN AN APARTMENT LOCATED AT 205 STATE STREET. PART I, LINE 7 FORMER PRESIDENT WEXLER RETAINS CONTINUED USE OF THE APARTMENT AT 205 STATE STREET SUBSEQUENT TO HER TENURE AS PRESIDENT OF THE LAW SCHOOL. IN AN AGREEMENT ENTERED INTO IN DECEMBER, 2011, THE LAW SCHOOL AGREED TO ALLOW FORMER PRESIDENT WEXLER TO OCCUPY THE APARTMENT FOR THE DURATION OF HER LIFETIME. PART I, LINE 8 THE AMOUNT REPORTED IN FORM 990, PART VII FOR NICHOLAS W. ALLARD, ESQ. PRESIDENT/DEAN AND PROFESSOR OF LAW HAS BEEN PAID PURSUANT TO A CONTRACT THAT WAS SUBJECT TO THE INITIAL CONTRACT EXCEPTION DESCRIBED IN REGULATIONS SECTION 53.4958-4(A)(3). THE CONTRACT WAS ENTERED INTO ON MARCH 27, 2012 AND WAS EFFECTIVE JULY 1, 2012. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649905MZ6 2009-07-22 22195460 REFUND PORTION OF BONDS ISSUED ON 08/20/2003 0 0 0 B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649905R63 2012-07-25 53833478 REFUND PORTION OF BONDS ISSUED ON 08/20/2003 1 0 0 A 22200245 2237696 442227 261093 19259229 2006 1 0 1 1 B 2160000 28060000 53916629 785705 75000 53055924 2006 0 1 1 1 A 0 1 0 0 0.00440 0.00000 0.00440 0 0 1 B 0 1 0 0 0.00440 0.00000 0.00440 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 0 0 0 0 1 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK DATE THE REBATE COMPUTATION WAS PERFORMED: 07/22/2014 PART II, LINE 3 (BOTH COLUMNS): THE DIFFERENCE WITH THE AMOUNT LISTED IN PART I, COLUMN (E) FOR THE 2009 BONDS IS ATTRIBUTABLE TO INVESTMENT EARNINGS FROM PROCEEDS ON DEPOSIT IN THE DEBT SERVICE RESERVE FUND. THE DIFFERENCE WITH THE AMOUNT LISTED IN PART I, COLUMN (E) FOR BONDS ISSUED ON 7/25/2012 (THE "2012 BONDS") IS ATTRIBUTABLE TO INVESTMENT EARNINGS FROM PROCEEDS ON DEPOSIT IN AN ESCROW FUND ("DEFEASANCE ESCROW") WHICH REFUNDED A PORTION OF A PRIOR ISSUE OF BONDS (THE "2003 BONDS") ON 7/1/2013. PART II, LINE 11 (BOTH COLUMNS): AMOUNTS LISTED INCLUDE PROCEEDS SPENT TO REFUND PRIOR ISSUE OF BONDS. PART III, LINE 4 (BOTH COLUMNS): THE 2003 BONDS WERE A MULTIPURPOSE ISSUE CONSISTING OF A NEW MONEY PORTION AND A REFUNDING PORTION. THE 2003 BONDS WERE ALLOCABLE TO EACH SEPARATE PURPOSE ON THE BASIS OF A PRO-RATA ALLOCATION. THE 2009 AND 2012 BONDS BOTH REFUNDED A PRO-RATA PORTION OF THE 2003 BONDS AND, AS A RESULT, THE PRIVATE BUSINESS USE FOR BOTH REFUNDING ISSUES IS EQUAL. PART III, LINE 5 (BOTH COLUMNS): THE TAXPAYER PERIODICALLY LEASES OUT A PORTION OF THE PROJECT FINANCED WITH PROCEEDS FROM THE 2009 BONDS AND THE 2012 BONDS TO OUTSIDE USERS. A SMALL PORTION OF SUCH USE MAY BE IN A TRADE OR BUSINESS THAT IS UNRELATED TO THE TAXPAYER'S EXEMPT PURPOSE. THE AGGREGATE AMOUNT OF SUCH USE WOULD NOT BE IN EXCESS OF 1/10 OF 1 PERCENT OF THE PROJECTS FINANCED WITH PROCEEDS FROM THE BONDS OR THE 2012 BONDS. NICHOLAS W ALLARD OFFICER MORTGAGE X 158324 160838 0 1 1 160838 X 19 109322 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER REPRESENTED ABOVE IS BASED ON THE NUMBER OF GIFTS. FORM 990, PART I, LINE 1: THE FUNDAMENTAL MISSION OF BROOKLYN LAW SCHOOL IS TO PROVIDE ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, AND ETHICAL VALUES NEEDED FOR A CAREER IN THE LAW. FORM 990, PART I, LINE 6: NUMBER OF VOLUNTEERS: 1,119 CAREER SERVICES PROGRAMS & MENTORSHIPS & ALUMNI 18 BOARD OF TRUSTEES 92 STUDENTS 528 SYMPOSIA/EVENTS/OTHER FORM 990, PART III, LINE 1: THE FUNDAMENTAL MISSION OF BROOKLYN LAW SCHOOL IS TO PROVIDE ITS STUDENTS WITH THE KNOWLEDGE, SKILLS, AND ETHICAL VALUES NEEDED FOR A CAREER IN THE LAW. A WELL-ROUNDED LEGAL EDUCATION EXPOSES STUDENTS TO THEORY AND LEGAL DOCTRINE, AND GIVES THEM THE PRACTICAL SKILLS THAT WILL BE EXPECTED OF THEM AS LAWYERS. IN ORDER TO ACHIEVE ITS MISSION, THE LAW SCHOOL HAS CREATED, AND IS CONTINUING TO CREATE, A COMMUNITY OF OUTSTANDING LEGAL SCHOLARS AND TEACHERS AND STUDENTS WHO ARE AMONG THE BEST AND THE BRIGHTEST. BROOKLYN LAW SCHOOL IS DEDICATED TO CONTRIBUTING TO THE ADVANCEMENT OF OUR UNDERSTANDING OF LAW, LEGAL INSTITUTIONS, AND SOCIETY AT LARGE. BROOKLYN LAW SCHOOL'S FACULTY PRODUCES AN IMPRESSIVE BODY OF WORK, INCLUDING CASEBOOKS, TREATISES, AND ARTICLES IN DISTINGUISHED LAW JOURNALS. THE FACULTY'S STATURE HAS GREATLY ENHANCED THE LAW SCHOOL'S REPUTATION THROUGHOUT THE UNITED STATES AND ABROAD. BROOKLYN LAW SCHOOL BOASTS MORE THAN A CENTURY OF EXPERIENCE IN TRAINING STUDENTS TO ENGAGE IN THE PRACTICE OF LAW. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FORM 990 SHALL BE DISTRIBUTED BY THE CHIEF FINANCIAL OFFICER TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO BEING SUBMITTED TO THE IRS. THE DRAFT FORM 990 SHALL BE DISTRIBUTED EARLY ENOUGH TO PROVIDE EACH FINANCE COMMITTEE MEMBER WITH A REASONABLE AMOUNT OF TIME FOR REVIEW AND SUBMISSION OF QUESTIONS OR COMMENTS PRIOR TO THE FILING DEADLINE. THE FINAL FORM 990 SHALL BE DISTRIBUTED TO EACH BOARD MEMBER PRIOR TO BEING FILED WITH THE IRS. THE DRAFT AND FINAL FORM 990 MAY BE DISTRIBUTED IN PERSON, BY REGULAR MAIL, E-MAIL, OR FAX. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND PROCEDURES ARE DESIGNED TO ENSURE THAT WHENEVER A MATTER IS DISCUSSED OR A DECISION IS MADE BY THE LAW SCHOOL'S GOVERNING BOARD OR COMMITTEE, BOARD AND COMMITTEE MEMBERS FIRST ARE MADE AWARE OF THE EXISTENCE OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE POLICY ALSO REQUIRES THE LAW SCHOOL TO GATHER INFORMATION ABOUT SUCH CONFLICTS. THIS IS DONE BY REQUIRING EACH BOARD MEMBER, OFFICER, AND KEY EMPLOYEE AND ANY OTHER PERSON WHO REGULARLY ATTENDS THE LAW SCHOOL BOARD AND COMMITTEE MEETINGS TO COMPLETE AND FILE A CONFLICT OF INTEREST DISCLOSURE STATEMENT BEFORE SERVING ON THE LAW SCHOOL BOARD OR ANY COMMITTEE. THE DISCLOSURE STATEMENT REQUIRES EACH BOARD MEMBER, OFFICER, OR KEY EMPLOYEE TO DISCLOSE ANY BUSINESS OR PERSONAL INTERESTS, DIRECT OR INDIRECT, THAT THE PERSON MAY HAVE IN ANY ENTITY THAT DOES BUSINESS WITH THE LAW SCHOOL. THE POLICY AND THE DISCLOSURE STATEMENT CONTAIN THE INFORMATION AND DEFINITIONS EACH PERSON WILL NEED TO PROPERLY COMPLETE HIS OR HER PERSONAL DISCLOSURE STATEMENT. THE PROCEDURES ARE PERFORMED ANNUALLY. EACH TRUSTEE, OFFICER, KEY EMPLOYEE, AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON-- A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY AND PROCEDURES, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, D. UNDERSTANDS THAT THE LAW SCHOOL IS A TAX-EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION POLICY IS INTENDED TO COMPLY WITH IRS FORM 990 REPORTING AND APPLIES TO THE "COMPENSATION" OF BROOKLYN LAW SCHOOL'S "KEY EMPLOYEES AND "OFFICERS". (A) REVIEW AND APPROVAL BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES: THE COMPENSATION OF ANY KEY EMPLOYEE OR OFFICER THAT FULFILLS THE CRITERIA DEFINED IN THIS POLICY SHALL BE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE, PROVIDED THAT ANY PERSONS WITH CONFLICTS OF INTEREST SHALL NOT BE INVOLVED IN THE REVIEW AND APPROVAL OF THE COMPENSATION ARRANGEMENT. (1) APPLICABLE CONFLICT OF INTEREST POLICY PROVISIONS. PURSUANT TO BROOKLYN LAW SCHOOL'S CONFLICT OF INTEREST POLICY AND PROCEDURES, THE FOLLOWING RESTRICTIONS APPLY WITH RESPECT TO THE INDIVIDUALS WHO MAY REVIEW AND APPROVE EXECUTIVE COMPENSATION ARRANGEMENTS: A) A VOTING MEMBER OF THE BOARD OF TRUSTEES WHO RECEIVES COMPENSATION FOR SERVICES FROM BROOKLYN LAW SCHOOL, WHETHER DIRECTLY OR INDIRECTLY, AND ANY OTHER TRUSTEE WHO IS THAT VOTING MEMBER'S "IMMEDIATE FAMILY MEMBER," IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION, OR THE COMPENSATION OF ANY OTHER MEMBER OF THE "INDEPENDENT EVALUATION COMMITTEE, OR ANY TRANSACTION WITH A BUSINESS IN WHICH EITHER THE MEMBER OR ANY OTHER MEMBER OF THE INDEPENDENT EVALUATION COMMITTEE HOLDS A "FINANCIAL INTEREST." B) A VOTING MEMBER OF ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION FROM THE ORGANIZATION FOR SERVICES, WHETHER DIRECTLY OR INDIRECTLY, IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO HIS/HER COMPENSATION OR THE COMPENSATION OF ANY MORE SENIOR STAFF EXECUTIVE OF BROOKLYN LAW SCHOOL. (B) USE OF DATA FOR COMPARABLE COMPENSATION: PRIOR TO APPROVING THE COMPENSATION OF ANY KEY EMPLOYEE OR OFFICER, THE FINANCE COMMITTEE SHALL REVIEW AND EVALUATE HIS OR HER COMPENSATION USING DATA FOR COMPARING COMPENSATION OF SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED EDUCATIONAL INSTITUTIONS. (C) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING: THE FINANCE COMMITTEE SHALL CONTEMPORANEOUSLY DOCUMENT AND MAINTAIN RECORDS OF ITS DELIBERATIONS AND DECISIONS REGARDING SUCH COMPENSATION ARRANGEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE LAW SCHOOL MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 312,708. OTHER POST-RETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC COSTS -836,352.