2017-02-15T16:26:02-06:00 2016-06-30 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2015-07-01 131632522 NEW YORK COLLEGE OF PODIATRIC MEDICINE NEWY 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 GREG ONAIFO CFO 2124108100 2017-02-15 1 GARRETT M HIGGINS P00543209 9143818900 2017-02-15 2015 2021-01-29 14:40:06Z LOUIS L LEVINE 53 EAST 124TH STREET NEW YORK NY 10035 19045406 0 X WWW.NYCPM.EDU X 1911 NY NEW YORK COLLEGE OF PODIATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 13 12 119 12 0 0 367308 627230 15058824 14970916 1884832 1455640 574656 329685 17885620 17383471 670449 975717 0 0 7642219 6485046 0 0 0 6893103 7602492 15205771 15063255 2679849 2320216 54617882 53676712 15118138 14550973 39499744 39125739 X SEE SCHEDULE O 0 0 10938650 975717 14970916 NEW YORK COLLEGE OF PODATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. 10938650 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 1 105 0 119 1 0 1 CJ 0 0 0 0 0 0 0 0 X 13 12 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X GREG ONAIFO 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 LOUIS L LEVINE PRESIDENT AND CEO 40.00 X X 300000 0 27728 MAJOR GENERAL WILLIAM F WARD CHAIRMAN 0.30 X X 0 0 0 GABRIEL P CAPRIO VICE CHAIRMAN 0.30 X X 0 0 0 ROCK G POSITANO DPM DEPUTY CHAIRMAN 0.30 X X 0 0 0 KEITH A GREATHOUSE SCERETARY 0.30 X X 0 0 0 PETER J NORTON TREASURER 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 X 0 0 0 BENJAMIN B CHOI BOARD MEMBER 0.30 X 0 0 0 KATHLEEN REILLY FALLON DPM BOARD MEMBER 0.30 X 0 0 0 JORDAN HELLER BOARD MEMBER 0.30 X 0 0 0 WILLIAM G RAISCH BOARD MEMBER 0.30 X 0 0 0 HALINA M SEMLA-PULASKI DPM BOARD MEMBER 0.30 X 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 40.00 X 184644 0 36202 GREG ONAIFO CHIEF FINANCIAL OFFICER 40.00 X 154500 0 6037 KEVIN JULES DIRECTOR OF SURGERY DEPT. 40.00 X 137430 0 29733 MICHAEL TREPAL VP OF ACADEMIC AFFAIRS & DEAN 40.00 X 197435 0 37510 DESANDER MAS VP OF OPERATIONS 40.00 X 133500 0 21629 EILEEN CHUSID DEAN OF PRE-CLINICAL SERVICES 40.00 X 129000 0 14245 ROBERT ECKLES DEAN OF GRADUATE MEDICAL EDUCATION 40.00 X 144844 0 10071 1381353 0 183155 8 0 1 0 US SECURITY ASSOCIATES INC PO BOX 931703 ATLANTA GA 31193 SECURITY 378699 PROMENET INC 41 BROADWAY 16TH FLOOR NEW YORK NY 10004 COMPUTER SUPPORT 274695 GRANT THORNTON LLP 757 3RD AVENUE 4TH FLOOR NEW YORK NY 10017 ACCOUNTING 147171 3 195668 431562 627230 STUDENT TUITION AND FEES 611600 12544797 12544797 RESIDENCY LECTURE 611600 1032450 1032450 CLINIC SERVICE 621400 604238 604238 RESIDENCY PROGRAM 611600 486719 486719 CONTINUING EDUCATION 611600 302712 302712 14970916 1415624 1415624 135263 0 135263 135263 135263 1701951 1661935 40016 40016 40016 2005 0 2005 2005 MISC. REVENUE 900099 133392 133392 PARKING LOT REVENUE 900099 59025 59025 192417 17383471 14970916 0 1785325 975717 975717 869966 608976 260990 4373363 3061354 1312009 325404 227783 97621 352354 246648 105706 563959 394771 169188 39416 27591 11825 146750 146750 1051415 735990 315425 14165 9915 4250 505096 353567 151529 40601 28421 12180 1685979 1180185 505794 129996 90997 38999 120352 84246 36106 124312 87018 37294 961417 672992 288425 369523 258666 110857 REPAIRS AND MAINTENANCE 817797 572458 245339 STUDENT CLINIC TRAINING 681269 681269 GUEST LECTURES 353404 247383 106021 EQUIPMENT RENTAL 327602 229321 98281 233398 163382 70016 15063255 10938650 4124605 0 1896 1728 2002372 2345276 561731 488459 20563 21630 108126 66560 22645426 16551999 6911355 6093427 36920715 36231232 3012654 3312918 5078470 5115482 54617882 53676712 1615895 1463300 3207507 3495845 5600000 5200000 4694736 4391828 15118138 14550973 X 37585317 36984121 1725113 1952304 189314 189314 39499744 39125739 54617882 53676712 X 2320216 463068 -3157289 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 743670 32028 10408 765290 730866 23030 10226 743670 664034 76845 10013 730866 625105 49231 10302 664034 592549 44527 11971 625105 0.00000 0.24740 0.75260 0 0 236166 236166 13635481 8726604 4908877 4965286 4228558 736728 3808493 3596837 211656 6093427 INVESTMENT IN PODIA INSURANCE LIMITED 3312918 F 3312918 STUDENT LOAN RECEIVABLES 5115482 F 5115482 CAPITAL LEASE OBLIGATIONS 126890 REFUNDABLE LOAN PROGRAMS 4264938 4391828 X 17043890 463068 422233 885301 16158589 1224882 1224882 17383471 14260606 121969 121969 14138637 924618 924618 15063255 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 DONORRESTRICTED 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 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 422,233. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 837,118. ELIMINATIONS FROM CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 387,764. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 121,969. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS RECLASSED TO PART IX, LINE 2 837,118. ELIMINATIONS FROM CONSOLIDATED ENTITIES IN FINANCIAL STATEMENTS 87,500. 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 POLICIES ARE AVAILABLE ON ITS WEBSITE FOR PUBLIC INSPECTION. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID ON BEHALF OF ITS STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3312918 0 0 0 0 0 0 3312918 0 3312918 1 0 1 0 0 0 1 MERIT-BASED SCHOLARSHIPS 140 837118 FINANCIAL AID 66 138599 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 X 0 0 0 0 0 0 0 0 0 LOUIS L LEVINE PRESIDENT AND CEO 300000 0 0 0 0 0 26000 0 1728 0 327728 0 0 0 JOEL STURM CHIEF OPERATING OFFICER 184644 0 0 0 0 0 18464 0 17738 0 220846 0 0 0 GREG ONAIFO CHIEF FINANCIAL OFFICER 154500 0 0 0 0 0 4635 0 1402 0 160537 0 0 0 KEVIN JULES DIRECTOR OF SURGERY DEPT. 137430 0 0 0 0 0 12100 0 17633 0 167163 0 0 0 MICHAEL TREPAL VP OF ACADEMIC AFFAIRS & DEAN 197435 0 0 0 0 0 19743 0 17767 0 234945 0 0 0 DESANDER MAS VP OF OPERATIONS 133500 0 0 0 0 0 4005 0 17624 0 155129 0 0 0 ROBERT ECKLES DEAN OF GRADUATE MEDICAL EDUCATION 144844 0 0 0 0 0 8691 0 1380 0 154915 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 POWER 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 11 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 15 THE BOARD OF TRUSTEES OF THE NEW YORK COLLEGE OF PODIATRIC MEDICINE MAINTAINS A COMPREHENSIVE COMMITTEE, WHOSE FUNCTION IS TO DETERMINE APPROPRIATE COMPENSATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. ON AN ANNUAL BASIS, AN ANALYSIS IS PERFORMED BY AN INDEPENDENT CONSULTANT TO ASSESS LOCAL TRENDS IN COMPENSATION AND ADJUSTMENTS ARE MADE TO THE STAFF SALARY RANGES AS NECESSARY. EVERY FEW YEARS, THE COLLEGE HIRES AN INDEPENDENT CONSULTANT TO PERFORM AN INTENSIVE MARKET STUDY TO EVALUATE NYCPM'S STAFF COMPENSATION PROGRAM AGAINST THOSE OF OTHER COLLEGES AND NOT-FOR-PROFIT ORGANIZATIONS. THE MOST RECENT INTENSIVE MARKET STUDY WAS PERFORMED IN 2015. THE CONSULTANT PROVIDES ANALYSES OF SALARY DATA SURVEYS AND MAKES RECOMMENDATIONS TO MANAGEMENT. THE CHAIRMAN OF THE BOARD OF TRUSTEES, IN CONJUNCTION WITH THE COMPENSATION COMMITTEE, WITH OR WITHOUT INPUT FROM INDEPENDENT CONSULTANTS, PRESENTS TO THE BOARD THE RECOMMENDATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION. THE ENTIRE BOARD THEN DELIBERATES AND VOTES ON THE RECOMMENDATION. THE BOARD'S DECISION ON THE MATTER IS FORWARDED TO THE VICE PRESIDENT OF FINANCE AND VICE PRESIDENT OF ADMINISTRATION FOR ACTION. FOR OFFICERS, KEY EMPLOYEES, AND OTHER PERSONNEL, THE OFFICE OF THE VICE PRESIDENT OF ADMINISTRATION WILL GATHER INFORMATION (YAFFE AND COMPANY, HIGHEREDJOBS.COM, BUREAU OF LABOR STATISTICS, AND OTHER SOURCES) AND PRESENT TO THE PRESIDENT AT SUCH TIMES THAT SALARIES ARE TO BE REVIEWED. THE FINAL DECISION IS MADE BY THE PRESIDENT WITH INPUT FROM THE VICE PRESIDENT OF FINANCE FOR BUDGETARY REASONS. IN SUMMARY, THE ORGANIZATION'S PRESIDENT AND CHIEF EXECUTIVE OFFICER'S AND TOP OFFICER'S COMPENSATIONS ARE REVIEWED BASED ON COMPARABILITY DATA AND CAREFUL DELIBERATION BY EITHER THE CHAIRMAN OF THE BOARD AND THE COMPENSATION COMMITTEE OR THE PRESIDENT AND HIS SENIOR OFFICERS. ONLY THE PRESIDENT MAINTAINS A WRITTEN CONTRACT FROM THE BOARD OF TRUSTEES. THE EXECUTIVE VICE PRESIDENT MAINTAINS A CONTRACT AUTHORIZED BY THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. NO OTHER OFFICERS OR KEY EMPLOYEES MAINTAIN CONTRACTS; THEY ARE AT-WILL EMPLOYEES. 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 -3,157,289. 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. PODIA INSURANCE LIMITED PO BOX 1109GT GRAND CAYMAN CJ INSURANCE CJ NEW YORK COLLEGE OF PODIATRIC MEDICINE C 422233 4222757 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 PODIA INSURANCE LIMITED P 87500 COST