2016-05-16T15:55:27-05:00 2015-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2014-07-01 132676570 TOURO COLLEGE % STUART LIPPMAN CONTROLLER TOUR 6465656000 500 SEVENTH AVENUE NEW YORK NY 10018 MELVIN NESS SENIOR VP AND CFO 6465656000 2016-05-13 true KPMG LLP P00634378 2127589700 2016-05-15 2014 2016-08-17 19:52:53Z MELVIN NESS 500 7TH AVE NEW YORK NY 10018 279968048 false X WWW.TOURO.EDU X 1970 NY SEE SCHEDULE O. 17 12 4299 30 1836 6985755 38983628 188507295 190711360 3518117 1377551 11405488 27364004 210416655 258436543 257671 6865440 0 0 138537212 140245417 0 0 2271265 85361528 95173212 224156411 242284069 -13739756 16152474 343691672 359149655 191430238 191440362 152261434 167709293 X SEE SCHEDULE O. false false 208085459 6865440 208275240 WITHIN THE TOURO SYSTEM, TOURO COLLEGE PROVIDED EDUCATION, PRIMARILY IN THE NEW YORK CITY METROPOLITAN AREA, TO APPROXIMATELY 13,000 UNDERGRADUATE, GRADUATE AND PROFESSIONAL STUDENTS DURING THE FISCAL YEAR IN VARIOUS FIELDS OF STUDY, INCLUDING LAW, MEDICINE AND OTHER HEALTHCARE FIELDS, GRANTING THE FOLLOWING ACADEMIC DEGREES: UNDERGRADUATE (2,164); GRADUATE (1,715); FIRST PROFESSIONAL (526). SEE SCHEDULE O. 208085459 true true false true false false false true false true true false false true true true false true true true true true false false true false false true false true true false false false false false true false true true false false false false false true true true true false false true X 469 0 true 4299 true true true true FR GM IS false false false true true false false false false X 17 12 true false false false false false false true true false true true true true true true true true true false false X STUART LIPPMAN CONTROLLER 6465656026 500 SEVENTH AVENUE NEW YORK NY 10018 X Abraham Biderman Trustee 0.5 0.5 X 0 0 0 Ben Chouake Trustee 0.6 0.4 X 0 0 0 Allen Fagin Trustee 0.5 0.5 X 0 0 0 Howard Friedman Trustee 0.8 0.2 X 0 0 0 Menachem Genack Trustee/Professor 31.0 4.0 X X 28711 48885 3825 Solomon Goldfinger Trustee 0.5 0.5 X 0 0 0 Mark Hasten Chairman/Trustee 1.0 3.1 X 0 0 0 Alan Kadish President, CEO and Trustee 18.0 17.0 X X 606896 0 84250 Leah Karfunkel Trustee 0.5 0.5 X 0 0 0 Daniel Lander Trustee & Chancellor 3.0 32.0 X X 0 190885 137432 David Lichtenstein Trustee 0.7 0.3 X 0 0 0 Martin Oliner Trustee 0.5 0.5 X 0 0 0 Lawrence Platt Trustee 0.8 0.2 X 0 0 0 Stephen Rosenberg Trustee 0.8 1.3 X 0 0 0 Zvi Ryzman Trustee 0.8 0.2 X 0 0 0 Israel Sendrovic Trustee 0.8 0.2 X 0 0 0 Jack Weinreb Trustee 0.8 0.2 X 0 0 0 Matthew Bonilla VP of Student Services 21.0 14.0 X 214588 0 19215 Stanley Boylan VP of Undergraduate Education 34.0 1.0 X 118328 0 61253 Richard Braunstein VP, Deputy General Counsel 23.0 12.0 X 215950 0 18723 Alan Ciner VP - Touro College South 35.0 0.0 X 125062 0 54417 Robert Goldschmidt VP of Planning & Assessment 35.0 0.0 X 153722 0 41864 Nadia Graff VICE PRESIDENT GRAD EDUCATION 35.0 0.0 X 219068 0 10816 Moshe Krupka Executive VP 18.0 17.0 X 154333 0 129320 Eric Levine VP, Institutional Advancement 28.0 7.0 X 183420 0 47758 Melvin Ness Senior VP, CFO 25.0 10.0 X 275493 0 32435 Michael Newman SVP, GEN. COUNSEL AND SECRTERY 24.0 11.0 X 209579 0 66308 David Raab Executive VP 14.0 21.0 X 24456 274829 39457 Alan Schoor Senior VP of Oper. & Admin. 29.0 6.0 X 233955 0 59413 Jay Sexter VP of National Affairs 35.0 0.0 X 363771 0 13000 Israel Singer VP 35.0 0.0 X 122909 0 12417 Eva Spinelli VP of Community Education 35.0 0.0 X 167430 0 14622 Franklin Steen VP of Technology 29.0 6.0 X 226255 0 28404 Marian Stoltz-Loike VP ONLINE EDUCATION & DEAN LCW 35.0 0.0 X 180621 0 5139 Robert Goldberg Dean of TOUROCOM 35.0 0.0 X 382759 0 25417 Lamar Miller Dean of School of Education 35.0 0.0 X 206334 0 16711 Louis Primavera Dean School of Health Sciences 35.0 0.0 X 241529 0 11205 Patricia Salkin Dean Touro Law Center 34.5 0.5 X 277502 0 72723 Arthur Prancan Associate Professor 20.0 15.0 X 290446 0 4500 Gary Shaw Professor 35.0 0.0 X 219404 0 23937 Harold Abramson Professor 35.0 0.0 X 247166 0 18479 Kenneth Steier Dean Tourocom Middletown 35.0 0.0 X 293763 0 18009 Richard Klein Professor 35.0 0.0 X 263566 0 15100 LAWRENCE RAFUL FORMER DEAN LAW SCHOOL, PROF. 35.0 0.0 X 195638 0 22331 6442654 514599 1108480 302 true true false CARRICKMORE PROPERTY DEVELOPMENT 200 CORPORATE DR STE 6 BLAUVELT NY 10913 GENERAL CONTRACTOR 4802029 SECURITAS SECURITY SERVICES USA INC PO BOX 403412 ATLANTA GA 303843412 SECURITY GUARDS 2359367 ALL PRO DESIGN CONSTRUCTION CORP 970 MORRIS PARK AVE BRONX NY 10462 GENERAL CONTRACTOR 2919981 JOHN DOYLE 30 BURNT RIDGE RD LIBERTY NY 12754 GENERAL CONTRACTOR 2083440 EWD INC 190 SPRING ST NEW YORK NY 10012 EDU. 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THE COLLEGE OR ITS REPRESENTATIVES MAY MEET WITH LEGISLATORS TO DISCUSS CERTAIN GRANTS. 462074 X false 19617660 1230957 527195 147012 641166 20587634 17701602 1702411 1165721 204479 747595 19617660 15627418 1967484 587690 100645 380345 17701602 15307316 821558 428064 55415 874105 15627418 14356611 629824 816963 47377 448705 15307316 0.30744 0.10698 0.58559 false false 45447669 45447669 187644994 48239011 139405983 77229671 31086967 46142704 37856739 24340420 13516319 27242189 14826484 12415705 256928380 DUE FROM/TO AFFILIATES, NET 46237997 A/R-OTHER 5962081 SECURITY DEPOSITS 1291710 ESCROW DEPOSIT MTI BONDS 1318278 ARTWORK 462074 OTHER LONG TERM ASSETS 350000 ADVANCES/LOAN EMPLOYEES 3918887 INTANGIBLE ASSETS 725000 60266027 0 SALE LEASEBACK OBLIGATION 15449612 REFUNDABLE GOVT LOAN PROGRAM 1118378 OTHER LIABILITIES 7018 16575008 X COLLECTION OF ART AND RELIGIOUS OBJECTS Form 990 Sch D Part III Line 1a A COLLECTION OF ART AND RELIGIOUS OBJECTS ACQUIRED SINCE INCEPTION THROUGH PURCHASES, CONTRIBUTIONS AND LONG TERM LOANS ARE INSURED FOR APPROXIMATELY $1,813,000 INCLUDING APPROXIMATELY $300,000 RELATED TO RELIGIOUS OBJECTS ON LOAN. RECORDS OF THE COST OF PURCHASED ITEMS OR OF THE FAIR VALUE AS OF THE DATE OF CONTRIBUTIONS ARE NOT AVAILABLE IN MANY INSTANCES, AND THE COLLEGE HAS DETERMINED THAT IT WOULD NOT BE PRACTICAL TO RETROACTIVELY CAPITALIZE ITS COLLECTION. RELIGIOUS ARTWORK Form 990 Sch D Part III Line 4 TOURO MAINTAINS ARTWORK AT VARIOUS LOCATIONS. A PORTION OF THE ARTWORK REPRESENTS RELIGIOUS ARTIFACTS USED IN WEEKLY RELIGIOUS SERVICES. OTHER ARTWORK IS USED TO BEAUTIFY THE FACILITIES TO ENHANCE STUDENT AND FACULTY ACCEPTANCE OF THEIR SURROUNDINGS. ENDOWMENT FUNDS Form 990 Sch D Part V Line 4 TO PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS, TO ADD OR IMPROVE FACILITIES, TO FUND RESEARCH AND PROVIDE ADDITIONAL PROGRAM FUNDS. ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES Form 990 Sch D Part X Line 2 THE COLLEGE PRESCRIBES TO A THRESHOLD OF MORE LIKELY THAN NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AS OF JUNE 30, 2015 AND 2014, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY UNRELATED BUSINESS INCOME TAX LIABILITY, WHICH WOULD HAVE A MATERIAL IMPACT UPON ITS CONSOLIDATED FINANCIAL STATEMENTS. true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY Form 990 Sch E Part I Line 3 BROCHURES AND CATALOGS DISTRIBUTED TO STUDENTS AND RECRUITMENT ADVERTISEMENTS IN JOURNALS AND NEWSPAPERS, AS WELL AS ON TV, INTERNET AND THE RADIO CONTAIN STATEMENTS WITH RESPECT TO TOURO COLLEGE'S RACIALLY NONDISCRIMINATORY POLICY. EXPLANATION OF GOVERNMENTAL FINANCIAL AID Form 990 Sch E Part I Line 6a GOVERNMENT CONTRIBUTIONS (GRANTS) OF $4,565,860. STUDENTS ATTENDING THE COLLEGE MAY ALSO BE ELIGIBLE FOR FEDERAL FINANCIAL AID INCLUDING STUDENT LOANS, PELL AND OTHER GRANTS. ADDITIONALLY, THE COLLEGE RECEIVED GRANTS FROM THE GOVERNMENT FOR RESEARCH AND FACILITY IMPROVEMENTS. true Europe (Including Iceland and Greenland) 2 56 Program Services EDUCATION 2715130 Middle East and North Africa 1 7 Program Services EDUCATION 7801345 Russia and the Newly Independent States 2 26 Program Services EDUCATION 172262 East Asia and the Pacific Program Services EDUCATION 71168 South Asia Program Services EDUCATION 1700 5 89 5 89 10761605 10761605 true false true false false false OPERATIONS REVIEW Form 990 Sch F Part I Line 2 PERIODIC SITE VISITS BY COLLEGE ADMINISTRATORS AND FACULTY REVIEW LOCAL OPERATIONS. SIGNIFICANT OPERATIONS HAVE REVIEWS BY LOCAL INDEPENDENT AUDITORS. NY DINNER 142748 30080 112668 45120 GOLF OUTING 70709 12960 57749 26340 1 40851 22225 18626 8746 254308 65265 189043 80206 80206 108837 true YESIVAS OHR HACHAIM 500 7TH AVENUE NEW YORK NY 10018 112808947 501(C)(3) 6500000 BOOK FORGAVE RECEIVABLE AMERICAN FRIEND OF KIRYAT SANZ 261 WEST 35TH ST 803 NEW YORK NY 10001 132724055 501(C)(3) 150000 GRANTS TO ORG. WITH SIMILAR MISSION HASTEN HEBREW ACADEMY 6602 HOOVER RD INDIANAPOLIS IN 46260 351185540 501(C)(3) 100000 GRANT TO ORG. WITH SIMILAR MISSION YESHIVA RABBI SAMSON RAPHAEL HIRSCH 100 BENNETT AVENUE NEW YORK NY 10033 131624224 501(C)(3) 100000 GRANT TO ORG. WITH SIMILAR MISSION AFIKIM FOUNDATION 111 JOHN ST NEW YORK NY 10038 710866051 501(C)(3) 9000 GRANT TO ORG. WITH SIMILAR MISSION 5 MONITORING GRANTS Form Sch I Part I Line 2 SINCE ITS INCEPTION, MANAGEMENT REVIEWS REQUESTS FOR GRANTS. THE COLLEGE MONITORS ALL REQUESTS FOR USE OF GRANT FUNDS AGAINST THE SUBMITTED BUDGETS FOR THE RESPECTIVE GRANTS. PRIOR TO SUBMISSION OF REQUESTS FOR REIMBURSEMENT, ADDITIONAL REVIEW OF EXPENDED FUNDS IS PERFORMED TO ENSURE COMPLIANCE WITH GRANT AND COLLEGE GUIDELINES. X X X X false true X X X false false false false false false false false false Alan Kadish President, CEO and Trustee 606896 0 0 0 0 0 13000 0 71250 0 691146 0 0 0 Daniel Lander Trustee & Chancellor 0 190885 0 0 0 0 0 9532 0 127900 0 328317 0 0 Matthew Bonilla VP of Student Services 214588 0 0 0 0 0 0 0 19215 0 233803 0 0 0 Stanley Boylan VP of Undergraduate Education 118328 0 0 0 0 0 6038 0 55215 0 179581 0 0 0 Richard Braunstein VP, Deputy General Counsel 215950 0 0 0 0 0 8738 0 9985 0 234673 0 0 0 Alan Ciner VP - Touro College South 125062 0 0 0 0 0 0 0 54417 0 179479 0 0 0 Robert Goldberg Dean of TOUROCOM 382759 0 0 0 0 0 13000 0 12417 0 408176 0 0 0 Robert Goldschmidt VP of Planning & Assessment 153722 0 0 0 0 0 8447 0 33417 0 195586 0 0 0 Nadia Graff VICE PRESIDENT GRAD EDUCATION 219068 0 0 0 0 0 10816 0 0 0 229884 0 0 0 Moshe Krupka Executive VP 154333 0 0 0 0 0 8490 0 120830 0 283653 0 0 0 Eric Levine VP, Institutional Advancement 183420 0 0 0 0 0 10205 0 37553 0 231178 0 0 0 Lamar Miller Dean of School of Education 206334 0 0 0 0 0 10269 0 6442 0 223045 0 0 0 Melvin Ness Senior VP, CFO 275493 0 0 0 0 0 13000 0 19435 0 307928 0 0 0 Michael Newman SVP, GEN. COUNSEL AND SECRTERY 209579 0 0 0 0 0 8681 0 57627 0 275887 0 0 0 Louis Primavera Dean School of Health Sciences 241529 0 0 0 0 0 11205 0 0 0 252734 0 0 0 David Raab Executive VP 0 274829 0 0 24456 0 24531 0 14926 0 63913 274829 0 0 Patricia Salkin Dean Touro Law Center 277502 0 0 0 0 0 11855 0 60868 0 350225 0 0 0 Alan Schoor Senior VP of Oper. & Admin. 233955 0 0 0 0 0 10698 0 48715 0 293368 0 0 0 Jay Sexter VP of National Affairs 363771 0 0 0 0 0 13000 0 0 0 376771 0 0 0 Eva Spinelli VP of Community Education 167430 0 0 0 0 0 8180 0 6442 0 182052 0 0 0 Franklin Steen VP of Technology 226255 0 0 0 0 0 9417 0 18987 0 254659 0 0 0 Marian Stoltz-Loike VP ONLINE EDUCATION & DEAN LCW 180621 0 0 0 0 0 0 0 5139 0 185760 0 0 0 Arthur Prancan Associate Professor 290446 0 0 0 0 0 4500 0 0 0 294946 0 0 0 Gary Shaw Professor 219404 0 0 0 0 0 11520 0 12417 0 243341 0 0 0 Harold Abramson Professor 247166 0 0 0 0 0 12037 0 6442 0 265645 0 0 0 Kenneth Steier Dean Tourocom Middletown 293763 0 0 0 0 0 0 0 18009 0 311772 0 0 0 Richard Klein Professor 263566 0 0 0 0 0 8657 0 6443 0 278666 0 0 0 LAWRENCE RAFUL FORMER DEAN LAW SCHOOL, PROF. 195638 0 0 0 0 0 10144 0 12187 0 217969 0 0 0 SCH J Part I LINE 1A THE PRESIDENT AND SOME OF THE OFFICERS ARE PROVIDED WITH UPGRADED TRAVEL AND SPOUSAL TRAVEL ON CERTAIN TRIPS. THE PRESIDENT WAS PROVIDED WITH A CAR AND DRIVER FOR BUSINESS PURPOSES. ALL OF THE BENEFITS ARE NON-TAXABLE. THE EXECUTIVE VP IS PROVIDED HOUSING AS A TAXABLE BENEFIT. BOARD APPROVAL Form Sch J Part I Line 1b THE BENEFITS PROVIDED TO THE PRESIDENT ARE APPROVED BY THE BOARD. BENEFITS PROVIDED TO THE OFFICERS ARE APPROVED BY THE PRESIDENT. PART II, COLUMN D Form Sch J Part II NONTAXABLE BENEFITS, AS APPLICABLE, INCLUDE QUALIFIED TUITION REDUCTION, PARSONAGE ALLOWANCES AND QUALIFIED BENEFITS UNDER TOURO'S CAFETERIA PLAN. CERTAIN INDIVIDUALS ARE REQUIRED TO LIVE IN COLLEGE PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE COLLEGE; AS SUCH THOSE HOUSING AMOUNTS ARE NONTAXABLE. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2013A 146000293 2013-12-18 19520000 REFINANCE TAXABLE LOAN false false false B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014A 146000293 649907M82 2014-06-26 59716460 ACQUIRE AND RENOVATE FACILITIES false false true C DORMITORY AUTHORITY OF THE STATE OF NEW YORK 2014A 146000293 2014-10-22 41475000 REFUND PRIOR ISSUE (12/6/2011) false false false A 398155 0 19520000 0 0 0 386587 0 0 19133413 0 0 2006 false false true true B 0 0 11380178 801587 311858 0 245650 0 0 10021083 0 0 2014 false false true true C 465000 0 41475000 0 0 0 826365 0 0 0 40648635 0 2007 true false true true A false false false false 0 false false false true B false false false false 0 false false 0.00000 false true C 0 A false true true false true true PEOPLES UNITED BANK 10. false false false 0 false true B false true false false false false 0 false false false 0 false true C false true true false true false 0 false 0 false true A true B true C true PART I, LINE B ISSUE PRICE (E) DOES NOT TIE TO PART II, COLUMN B, LINE 3 AS THE ISSUE IS A POOLED FINANCING. $10,805,000 PAR BENEFITS TOURO COLLEGE. THE OTHER BENEFICIARY OF THE POOLED FINANCING IS NEW YORK MEDICAL COLLEGE, AN AFFILIATED NOT-FOR PROFIT ORGANIZATION. LAWRENCE RAFUL FORMER DEAN & PROF. PURCHASE A RESIDENCE X 200000 200000 false false true DANIEL LANDER FATHER'S ESTATE PURCHASE A RESIDENCE X 280000 50076 false false true 250076 LANDER ESTATE TRUSTEE TOURO COLLEGE 695878 DECEASED PRES DEFERRAL COMP false MARK HASTEN TRUSTEE TOURO COLLEGE 3000000 LOAN REPAID false DANIEL LANDER CHANCELLOR'S SPOUSE 46354 EMPLOYEE COMPENSATION false DANIEL LANDER CHANCELLOR'S SISTER 89385 EMPLOYEE COMPENSATION false DANIEL LANDER CHANCELLOR'S SIS SPOUSE 140591 EMPLOYEE COMPENSATION false DANIEL LANDER CHANCELLOR'S SISTER 62491 EMPLOYEE COMPENSATION false DANIEL LANDER CHANCELLOR'S SISTER 79383 EMPLOYEE COMPENSATION false MARK HASTEN TRUSTEE'S GRANDAUGHTER 3282 EMPLOYEE COMPENSATION false SOLOMON GOLDFINGER TRUSTEE'S CHILD'S SPOUSE 53066 EMPLOYEE COMPENSATION false SOLOMON GOLDFINGER TRUSTEE'S SISTER'S SPOUSE 82162 EMPLOYEE COMPENSATION false STANLEY BOYLAN OFFICER'S SPOUSE 43854 EMPLOYEE COMPENSATION false MENACHEM GENACK OFFICER'S SON 26209 EMPLOYEE COMPENSATION false SCH L PART 4 BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS TOURO COLLEGE WAS A GUARANTOR OF A LOAN TO A RELATED ORGANIZATION, FROM MARK HASTEN, TRUSTEE OF TOURO COLLEGE. SUCH LOAN WAS REPAID IN AUGUST 2014. FORM 990, PART I, LINE 1, AND PART III, LINE 1, MISSION STATEMENT: THE COLLEGE'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER AND PROFESSIONAL EDUCATION. IT WAS ESTABLISHED PRIMARILY TO ENRICH THE JEWISH HERITAGE AND TO SERVE THE LARGER AMERICAN COMMUNITY. THE COLLEGE HAS AN UNDERGRADUATE CURRICULUM OFFERING BACHELOR AND ASSOCIATES DEGREES, GRADUATE PROGRAMS OFFERING MASTERS' DEGREES, AND PROFESSIONAL SCHOOLS INCLUDING A LAW SCHOOL, A SCHOOL OF HEALTH SCIENCES, A SCHOOL OF PHARMACY AND A SCHOOL OF OSTEOPATHIC MEDICINE. THE COLLEGE HAD AN AVERAGE ENROLLMENT OF APPROXIMATELY 15,000 DURING THE FISCAL YEAR. FORM 990, PART III, LINE 4A ACADEMIC SUPPORT: TOURO COLLEGE PROVIDES STAFF AND OPERATIONAL SUPPORT FOR ACADEMIC PROGRAMS OF VARIOUS SCHOOLS WITHIN THE LARGER TOURO SYSTEM AND EACH SCHOOL PAYS TOURO COLLEGE FOR A PORTION OF THAT SUPPORT AND RECEIVES OTHER SERVICES WITHOUT CHARGE. FROM TIME TO TIME, TOURO COLLEGE RECEIVES ACADEMIC SUPPORT FROM OTHER SCHOOLS IN THE TOURO SYSTEM. DURING THIS REPORTING YEAR, THE BOARDS OF SEVERAL TOURO SYSTEM SCHOOLS VOTED TO FORGIVE PORTIONS OF THE RECEIVABLES THAT HAD ARISEN OVER THE YEARS IN THE CONTEXT OF ACADEMIC SUPPORT AMONG THOSE SCHOOLS AND THOSE FORGIVENESS EVENTS ARE REPORTED AS GRANTS RECEIVED ($24,500,000) AND GRANTS PAID ($6,500,000) ON THE TOURO COLLEGE RETURN. FORM 990, PART VI, SECTION A, LINE 2, FAMILY RELATIONSHIP: JAY SEXTER AND EVA SPINELLI ARE HUSBAND AND WIFE. FORM 990,PART VI, SECTION B, LINE 11B, FORM 990 REVIEW PROCESS: CONTROLLER, AUDITORS, OFFICERS AND THE AUDIT COMMITTEE OF THE BOARD OF THE ORGANIZATION REVIEW THE FORM 990. FORM 990,PART VI, SECTION B, LINE 12C, CONFLICT OF INTEREST POLICY: THE ANNUAL BOARD QUESTIONNAIRE, WHICH REQUIRES DISCLOSURE OF CONFLICT OF INTEREST AND OTHER DETAILS, IS CIRCULATED TO ALL OF THE BOARD MEMBERS AND IS REVIEWED BY IN-HOUSE COUNSEL. KEY EMPLOYEES NOTIFY TOURO ANY TIME CONFLICTS OF INTEREST ARISE. THE COLLEGE PERIODICALLY CIRCULATES A FULL QUESTIONNAIRE FOR SUCH INDIVIDUALS TO COMPLETE. FORM 990, PART VI, SECTION B, LINE 15A, EXECUTIVE COMPENSATION: THE BOARD AND OFFICERS, WHO ARE FREE OF ANY CONFLICT, APPROVE EXECUTIVE HIRING DECISIONS. IN MAKING COMPENSATION AND EMPLOYEE BENEFIT DETERMINATIONS, CONSIDERATION IS GIVEN TO EXPERT REPORTS AND COMPENSATION TRENDS IN THE INDUSTRY, QUALIFICATIONS AND OTHER MERITS OF THE CANDIDATES. ALL SUCH DECISIONS ARE DOCUMENTED. COMPENSATION FOR SENIOR MANAGEMENT IS REVIEWED WHEN THEIR CONTRACTS ARE RENEWED. FORM 990, PART VI, SECTION C, LINE 19, DOCUMENTATION AVAILABLE TO PUBLIC: THE COLLEGE MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC. CERTAIN GOVERNING POLICIES ARE INCLUDED IN TOURO COLLEGE WEBSITE (WWW.TOURO.EDU); HOWEVER ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE PUBLIC. THE ANNUAL FINANCIAL STATEMENTS ARE FILED ON THE ELECTRONIC MUNICIPAL ACCESS SYSTEM (EMMA) WHERE THEY ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: ASSETS RECLASS FROM LAW SCHOOL FOUNDATION FUND $22,207 ASSET RECLASS TO YESHIVAS OHR HACHAIM (206,099) ============ TOTAL TO FORM 990 PART XI, LINE 9 (183,892) WARWICK ACADEMIC ASSOCIATES LLC C/O TOURO COLLEGE 500 7TH AVE NEW YORK NY 10018 204236301 HOLDING CO. NY 71046 3216209 TOUROCOLLEGE CENTER FOR HEALTH OUTCOME RESEARCH LLC C/O TOURO COLLEGE 500 7TH AVE NEW YORK NY 10018 272347268 RESEARCH CTR. 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