2015-01-12T07:38:59-06:00 2014-08-31 410746749 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKE STE400 PLYMOUTH MEETING PA 19462 990 2013-09-01 131916574 NEW YORK CHIROPRACTIC COLLEGE NEWY 3155683000 PO BOX 800 2360 STATE ROUTE 89 SENECA FALLS NY 131480800 SEAN ANGLIM VP OF FINANCE & ADMIN SERVICES 3155683000 2014-12-17 1 DAVID JACOBSON CPA P01685411 2156433900 2013 2016-03-07 17:11:31Z DR FRANK NICCHI 2360 STATE ROUTE 89 SENECA FALLS NY 13148 35555806 0 X WWW.NYCC.EDU X 1919 NY SEE SCHEDULE O NEW YORK CHIROPRACTIC COLLEGE'S MISSION IS THE COMMITMENT TO THE ACHIEVEMENT OF ACADEMIC EXCELLENCE, QUALITY PATIENT CARE, AND PROFESSIONAL LEADERSHIP. 19 17 664 38 56203 -5284 1023788 1001741 25828862 27006808 927281 1933023 425546 26517 28205477 29968089 848000 908893 0 0 16435596 16805240 0 0 414368 10095813 10144337 27379409 27858470 826068 2109619 80039386 86495028 34161922 33728662 45877464 52766366 X SCHEDULE O 0 0 21637845 908893 26960708 SCHEDULE O 21637845 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 80 0 1 664 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 19 17 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X SEAN ANGLIM 3155683000 PO BOX 800 2360 STATE ROUTE 89 SENECA FALLS NY 131480800 DR FRANK NICCHI PRESIDENT 35.00 0.00 X X 368024 0 222335 DR YUSEF BARNES TRUSTEE 1.00 0.00 X 0 0 0 DR LEWIS BAZAKOS TRUSTEE 1.00 0.00 X 0 0 0 DR G LANSING BLACKSHAW TRUSTEE 1.00 0.00 X 0 0 0 MR TIM BROWN TRUSTEE 1.00 0.00 X 0 0 0 DR ROBERT DALEY TRUSTEE 1.00 0.00 X 0 0 0 DR THOMAS DEVITA TRUSTEE 1.00 0.00 X 0 0 0 DR KAREN ERICKSON TRUSTEE 1.00 0.00 X 0 0 0 DR SYLVIA HEYMAN TRUSTEE 1.00 0.00 X 0 0 0 MR ROBERT KERNAN TRUSTEE 1.00 0.00 X 0 0 0 DR FRANK LIZZIO TRUSTEE 1.00 0.00 X 0 0 0 MR WALTER MCCARTHY TRUSTEE 1.00 0.00 X 0 0 0 DR GEORGE MCCLELLAND TRUSTEE 1.00 0.00 X 0 0 0 DR TYRAN MINCEY TRUSTEE 1.00 0.00 X 0 0 0 MR JOHN PALMUCCI TRUSTEE 1.00 0.00 X 0 0 0 DR JAMES POWELL TRUSTEE 1.00 0.00 X 0 0 0 MS CATHERINE RICHARDSON TRUSTEE 1.00 0.00 X 0 0 0 DR JOHN ROSA TRUSTEE 1.00 0.00 X 0 0 0 MS ELIZABETH SHIAH TRUSTEE 1.00 0.00 X 0 0 0 DR MICHAEL MESTAN EXECUTIVE VP AND PROVOST 35.00 0.00 X 218701 0 38515 MR SEAN ANGLIM VP OF FINANCE & ADMINISTRA 35.00 0.00 X 208768 0 22251 DR MATTHEW COTE ASSOCIATE PROFESSOR 35.00 0.00 X 112659 0 26200 DR ROBERT RUDDY ASSISTANT PROFESSOR 35.00 0.00 X 120163 0 23046 MS DIANE DIXON VP OF ENROLLMENT MANAGEMEN 35.00 0.00 X 117714 0 9720 DR KAREN BOBAK DEAN OF CHIROPRACTIC EDUCA 35.00 0.00 X 113195 0 25820 MS KAREN QUEST CONTROLLER 35.00 0.00 X 109510 0 9223 1368734 0 377110 12 0 1 0 COMPASS GROUP USA INC 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 757640 APPLE ROOFING CORP PO BOX 3105 SYRACUSE NY 13220 ROOF INSTALLATION 404975 BEN MITTIGA CONSTRUCTION CO INC 2123 RT 14N GENEVA NY 14456 CONSTRUCTION 302915 BOND SCHOENECK AND KING PLLC ONE LINCOLN CENTER SYRACUSE NY 13202 LEGAL SERVICES 245006 SENECA SECURITY SERVICE 4922 ROUTE 89 ROMULUS NY 14541 SECURITY SERVICES 224776 5 5600 390072 606069 91456 1001741 TUITION & FEES 611310 24344273 24344273 HOUSING/FOOD REVENUES 721000 1489169 1489169 CLINIC REVENUES 621400 877784 877784 ATHLETIC CENTER 713940 189365 189365 ADVERTISING INCOME 541800 46100 46100 60117 60117 27006808 275059 275059 8075 0 8075 8075 8075 7220804 8804 5571644 0 1649160 8804 1657964 1657964 8339 5600 0 8339 8339 26176 16073 10103 10103 29968089 26960708 56203 1949437 16400 16400 892493 892493 1081104 964646 116458 12628836 10624245 1834665 169926 763850 624774 129029 10047 1354784 1056661 256095 42028 976666 774705 201961 198955 198955 62284 62284 62546 62546 51086 48515 2571 435258 422269 11977 1012 1009352 657358 343349 8645 167849 2412 165221 216 958079 898443 59636 618456 360118 255585 2753 39552 22732 16785 35 817164 734065 83099 2122353 1878307 244046 433190 68298 364892 MISCELLANEOUS SERVICES 1403679 1356927 46081 671 SERVICE CONTRACTS 636317 479913 156404 DUES LICENSES & PERMITS 193861 50190 143175 496 REPAIRS 171342 162827 8515 763014 506193 194740 62081 27858470 21637845 5806257 414368 7099522 6637098 448476 297910 573019 910212 1527553 1711665 708397 673617 56355145 35034426 21646241 21320719 12033020 14900501 33676923 37452174 2326235 2591132 80039386 86495028 2777871 3829323 10209050 9479685 17089836 16262120 703842 668648 3381323 3488886 34161922 33728662 X 45715614 52606038 81850 80328 80000 80000 45877464 52766366 80039386 86495028 X 2109619 4913806 -131023 -3500 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 1 6556 1 83 0 0 6639 0 PART II-B, LINE 1: F. A PORTION OF THE DUES PAID TO THE ASSOCIATION OF CHIROPRACTIC COLLEGES MAY BE USED FOR ADVOCACY PROGRAMS. THIS PORTION IS REPORTED AS GRANTS TO OTHER ORGANIZATIONS FOR LOBBYING PURPOSES. G. THE COLLEGE PRESIDENT CONTACTED A STATE LEGISLATOR TO SUPPORT LEGISLATION THAT WOULD BENEFIT THE CHIROPRACTIC PROFESSION. 45810528 6643855 4000 0 52450383 43099782 3514746 4000 800000 45810528 42999854 1454928 4000 1351000 43099782 39326331 810 4213767 41054 500000 42999854 38725703 810 1955318 5500 1350000 39326331 0.99700 0.00200 0.00100 0 0 1309001 1309001 44237455 26907134 17330321 32411 12548 19863 8764493 7263055 1501438 2011785 851689 1160096 21320719 FOREIGN EQUITY SECURITIES 10376267 F HEDGE FUNDS 19058020 F REAL ASSETS 8017887 F 37452174 FEDERAL STUDENT LOANS PAYABLE 1648686 ASSET RETIREMENT OBLIGATION 1840200 3488886 33816405 4913806 -1002944 3910862 29905543 62546 62546 29968089 26919503 16073 16073 26903430 62546 892494 955040 27858470 PART V, LINE 4: ENDOWMENT FUNDS THE BOARD DESIGNATED/QUASI-ENDOWMENT PORTION OF THE FUNDS ARE USED TO PROVIDE A SOURCE OF FUNDING FOR THE ANNUAL BUDGET ALONG WITH FUNDING STRATEGIC INITIATIVES. THE INCOME FROM THE PERMANENT ENDOWMENT ALONG WITH THE TERM ENDOWMENT IS USED TO PROVIDE SCHOLARSHIPS FOR STUDENTS. UNRESTRICTED FUNDS FUNCTIONING AS QUASI ENDOWMENT ARE COVERED UNDER THE BOARD OF TRUSTEES' SPENDING POLICY WHICH IS DETERMINED ANNUALLY AND IS TARGETED TO BE APPROXIMATELY 5% OF A 16 QUARTER MOVING AVERAGE OF THE FUND'S TOTAL MARKET VALUE. TEMPORARILY RESTRICTED FUNDS ARE APPROPRIATED FOR EXPENDITURE BASED ON THE DIRECTION OF THE DONOR. ENDOWMENT FUNDS ARE INVESTED TO MAXIMIZE LONG TERM RETURNS CONSISTENT WITH PRUDENT LEVELS OF RISK APPROPRIATE TO THE MANAGEMENT OF SUCH LONG TERM FUNDS. DIVERSIFICATION OF INVESTMENTS IS DESIGNED TO ENSURE A TOTAL RETURN OF INCOME PLUS CAPITAL APPRECIATION NECESSARY TO PRESERVE AND ENHANCE THE PRINCIPAL OF THE FUNDS AND AT THE SAME TIME, PROVIDE A DEPENDABLE SOURCE OF INCOME FOR CURRENT OPERATIONS AND PROGRAMS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTERNAL SCHOLARSHIPS -892,493. TEMPORARILY RESTRICTED GIFTS 4,500. INVESTMENT EXPENSE ADJUSTMENT -131,024. COST OF INVENTORY SOLD 16,073. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF INVENTORY SOLD 16,073. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTERNAL SCHOLARSHIPS 892,494. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY - INCLUDED WITH ALL PUBLICITY AND ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID IS RECEIVED BY THE COLLEGE. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD TRIP 20198 NORTH AMERICA (INCLUDING CANADA) 0 0 PROGRAM SERVICES RECRUITING AND ONLINE TEACHING 12605 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS MARKET VALUE OF INVESTMENTS 12346040 0 0 0 0 0 0 12378843 0 12378843 0 0 0 0 0 0 1 FOUNDATION FOR CHIROPRACTIC PROGRESS PO BOX 560 CARMICHAEL CA 956090560 202137895 15000 PLEDGE TO SUPPORT THE POSITIVE PRESS CAMPAIGN TO PROMOTE CHIROPRACTIC. 1 VARIOUS INTERNAL SCHOLARSHIPS TO STUDENTS 325 892493 PART I, LINE 2: MERIT AND ACADEMIC SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON PREVIOUS AND CURRENT ACADEMIC ACHIEVEMENT. OTHER INTERNAL AND ENDOWED SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON CRITERIA SPECIFIC TO THE SCHOLARSHIP. SCHOLARSHIPS AWARDED ARE MONITORED BY THE FINANCIAL AID AND THE FINANCE OFFICE OF THE COLLEGE. X X X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 DR FRANK NICCHI PRESIDENT 265835 0 0 0 102189 0 185800 0 36535 0 590359 0 60668 0 DR MICHAEL MESTAN EXECUTIVE VP AND PROVOST 203662 0 9000 0 6039 0 16798 0 21717 0 257216 0 0 0 MR SEAN ANGLIM VP OF FINANCE & ADMINISTRA 199297 0 9000 0 471 0 16101 0 6150 0 231019 0 0 0 PART I, LINE 1A DR. FRANK NICCHI RECEIVES (COLLEGE OWNED) HOUSING AS A CONDITION OF HIS EMPLOYMENT. THE LEASE VALUE OF THE HOUSING WAS $21,000. THE COST OF CLEANING SERVICES FOR THE HOUSING ($2,693) WAS TAXED TO HIM AS A FRINGE BENEFIT AND INCLUDED IN HIS W-2. INCLUDED IN HIS EMPLOYMENT CONTRACT IS A PROVISION FOR TRAVEL FOR HIS SPOUSE. THE COST OF SPOUSAL TRAVEL ($3,669) WAS TAXED TO HIM AS A FRINGE BENEFIT AND INCLUDED IN HIS W-2 EARNINGS. DR. FRANK NICCHI WAS TAXED AS A FRINGE BENEFIT ($978) FOR MEDICARE TAXES PAID ON HIS BEHALF AS A RESULT OF AMENDED IRS FORM 941X RETURNS. PART I, LINE 4B CONTRIBUTIONS WERE MADE ON DR. FRANK NICCHI'S BEHALF INTO TWO SEPARATE 457(F) SUPPLEMENTAL RETIREMENT PLANS IN 2013 TOTALING $165,400 IN ACCORDANCE WITH HIS EMPLOYMENT CONTRACT. THE 457(F) CONTRIBUTIONS ALONG WITH THE COLLEGE'S 403(B) RETIREMENT CONTRIBUTION ARE REPORTED ON PART II COLUMN (C). PART I, LINE 7 TWO OFFICERS EACH RECEIVED A NON-FIXED BONUS PAYMENT OF $9,000 IN 2013. THE AMOUNT WAS INCLUDED IN THEIR W-2 AND SHOWN IN PART II (B)(II). PART II - COLUMN E THE $590,359 FIGURE FOR THE PRESIDENT INCLUDES PAYMENTS AND BENEFITS PROVIDED TO THE PRESIDENT IN THE 2013 CALENDAR YEAR, AS WELL AS PAYMENTS THAT WILL BE MADE IN FUTURE CALENDAR YEARS AS LONG AS HE CONTINUES TO PERFORM SUBSTANTIAL SERVICES FOR THE COLLEGE THROUGH SPECIFIED DATES IN THOSE FUTURE YEARS. BEFORE APPROVING THE PRESIDENT'S TOTAL COMPENSATION AND BENEFITS PACKAGE, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF THE COLLEGE REVIEWED COMPENSATION AND BENEFIT DATA FOR THE COMPARABLE INSTITUTIONS AND VERIFIED THAT THE TOTAL COMPENSATION AND BENEFITS PACKAGE FOR THE PRESIDENT WAS REASONABLE IN LIGHT OF SUCH DATA. A SENECA COUNTY INDUSTRIAL DEVELOPMENT AGENCY 237329915 816907AP4 2007-05-31 20134306 REFINANCING OF A COMMERCIAL LOAN 0 0 0 A 20134306 1622250 17959344 342290 210423 2007 1 0 1 1 A 0 1 1 1 0 0.01550 0.00100 0.01650 1 0 1 A 0 0 0 1 0 0 0 0 1 A 1 SCHEDULE K, PART IV, LINE 2C 05/31/2007, $20,134,306, SENECA COUNTY INDUSTRIAL DEVELOPMENT AGENCY - MOST RECENT REBATE COMPUTATION WAS PERFORMED IN MAY 2012 FOR THE FIFTH ANNIVERSARY OF THE ISSUE DATE WITH NO REBATE DUE. GENERATIONS BANK SEE PART V 704616 LOAN BY GENERATIONS BANK 0 PART IV THE COLLEGE ENTERED INTO A NOTE PAYABLE WITH GENERATIONS BANK FOR THE REFINANCING OF A NOTE FOR A FACILITY OWNED BY THE COLLEGE. A CURRENT TRUSTEE, MR. ROBERT KERNAN, AND AN OFFICER OF THE COLLEGE, DR. FRANK NICCHI, SIT ON THE BOARD OF DIRECTORS OF GENERATIONS BANK. IN ACCORDANCE WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES, OFFICERS AND MANAGEMENT STAFF (POLICY), THE POTENTIAL CONFLICT OF INTEREST (I.E., THE RELATIONSHIP BETWEEN GENERATIONS BANK, MR. KERNAN, AND DR. NICCHI) WAS DISCLOSED TO THE COLLEGE'S BOARD OF TRUSTEES. THE COLLEGE SOLICITED PROPOSALS FOR THE REFINANCING FROM SEVERAL FINANCIAL INSTITUTIONS. THE BOARD OF TRUSTEES OF THE COLLEGE REVIEWED THE PROPOSALS, AND DECIDED THAT THE PROPOSAL FROM GENERATIONS BANK PROVIDED THE MOST FAVORABLE TERMS FOR THE COLLEGE AND WAS FAIR, REASONABLE AND IN THE BEST INTEREST OF THE COLLEGE. IN ACCORDANCE WITH THE POLICY, MR. KERNAN AND DR. NICCHI DID NOT PARTICIPATE IN THAT DECISION. X SUPPLIES/SUPP 18 48875 SELLING PRICE X EQUIPMENT 4 36089 SELLING PRICE X SUPPLIES/MINO 1 6492 SELLING PRICE 0 0 0 FORM 990, PART III, LINE 1 NEW YORK CHIROPRACTIC COLLEGE'S MISSION IS THE COMMITMENT TO THE ACHIEVEMENT OF ACADEMIC EXCELLENCE, QUALITY PATIENT CARE, AND PROFESSIONAL LEADERSHIP. THE VISION IS TO BE RECOGNIZED AS THE LEADING INSTITUTION FOR EDUCATION AND TRAINING OF INTEGRATED AND NATURAL HEALTH CARE PROFESSIONALS AND ACADEMICIANS. DEGREE OFFERINGS INCLUDE THE DOCTOR OF CHIROPRACTIC AND MASTER OF SCIENCE DEGREES IN ACUPUNCTURE AND ORIENTAL MEDICINE, APPLIED CLINICAL NUTRITION (100% ONLINE), HUMAN ANATOMY AND PHYSIOLOGY INTRUCTION (100% ONLINE), DIAGNOSTIC IMAGING, AND CLINICAL ANATOMY. FORM 990, PART III, LINE 4A EXEMPT PURPOSE ACHIEVEMENTS NEW YORK CHIROPRACTIC COLLEGE (NYCC), LOCATED IN SENECA FALLS, NY, IS A PRIVATE 501(C) (3), NOT-FOR-PROFIT EDUCATIONAL INSTITUTION ESTABLISHED IN 1919 THROUGH ABSOLUTE CHARTER FROM THE NEW YORK STATE BOARD OF REGENTS, OFFERING MULTIPLE ACADEMIC PROGRAMS AND HIGHLY DIVERSIFIED NATURAL HEALTHCARE INSTRUCTION. COURSEWORK AT NYCC EMPHASIZES INTEGRATIVE, NATURAL, AND COLLABORATIVE HEALTHCARE APPROACHES OFFERED THROUGH ACCREDITED, DEGREE-GRANTING PROGRAMS AS FOLLOWS: - DOCTOR OF CHIROPRACTIC - MASTER OF SCIENCE IN ACUPUNCTURE & ORIENTAL MEDICINE - THROUGH ITS FINGER LAKES SCHOOL OF ACUPUNCTURE AND ORIENTAL MEDICINE - MASTER OF SCIENCE IN APPLIED CLINICAL NUTRITION (100% ONLINE) - MASTER OF SCIENCE IN HUMAN ANATOMY AND PHYSIOLOGY INSTRUCTION (100% ONLINE) - MASTER OF SCIENCE IN DIAGNOSTIC IMAGING - MASTER OF SCIENCE IN CLINICAL ANATOMY - BACHELOR OF SCIENCE IN PROFESSIONAL STUDIES THE COLLEGE'S MISSION ENCOURAGES THE ACHIEVEMENT OF ACADEMIC EXCELLENCE, QUALITY PATIENT CARE AND PROFESSIONAL LEADERSHIP. INTEGRATIVE HEALTHCARE EDUCATION AN IMPORTANT ASPECT OF EDUCATIONAL PROGRAMMING AT NYCC INCLUDES THE OPERATION OF FOUR COMMUNITY HEALTH CENTERS IN NEW YORK STATE (SENECA FALLS, ROCHESTER, BUFFALO, AND LONG ISLAND), EACH OF WHICH PROVIDES NATURAL HEALTHCARE SERVICES AND SERVES AS AN INNOVATIVE MODEL FOR PATIENT CENTERED AND INTEGRATIVE HEALTHCARE THROUGHOUT THE COUNTRY. ADDITIONALLY, NYCC STUDENTS ENGAGE IN CLINICAL ROTATIONS WITHIN SEVERAL HOSPITALS AND OTHER CONVENTIONAL HEALTHCARE SETTINGS WHICH PROVIDE INTEGRATIVE, REAL-WORLD EXPERIENCE THAT PREPARES THEM FOR A RAPIDLY EVOLVING HEALTH CARE MARKETPLACE. UNIQUE CLINICAL PARTNERSHIPS WHICH ENABLE STUDENTS TO PARTICIPATE IN CLINICAL ROUNDS AND PROVIDE PATIENT CARE INCLUDE THE WALTER REED NATIONAL MILITARY MEDICAL CENTER IN BETHESDA MARYLAND, FIVE VETERANS HEALTH ADMINISTRATION HOSPITALS/HEALTH CENTERS, AND MONROE COMMUNITY HOSPITAL. ADDITIONALLY, UNDER FACULTY SUPERVISION, STUDENTS PROVIDE NATURAL HEALTHCARE SERVICES AT THE HEALTH CENTERS OF THE STATE UNIVERSITY OF NEW YORK SYSTEM AT BUFFALO, STONY BROOK, AND FARMINGDALE, AND AT ST. JOHN FISHER COLLEGE. FISCAL-YEAR EXEMPT PURPOSE ACHIEVEMENTS THE COLLEGE GRADUATED 281 STUDENTS DURING THE FISCAL 2014 YEAR DETAILED AS FOLLOWS: - DOCTOR OF CHIROPRACTIC (169) - MASTER OF SCIENCE IN ACUPUNCTURE AND ORIENTAL MEDICINE (8) - MASTER OF SCIENCE IN ACUPUNCTURE (20) - MASTER OF SCIENCE IN APPLIED CLINICAL NUTRITION (36) - MASTER OF SCIENCE IN HUMAN ANATOMY AND PHYSIOLOGY INSTRUCTION (24) - MASTER OF SCIENCE IN DIAGNOSTIC IMAGING (0) - MASTER OF SCIENCE IN CLINICAL ANATOMY (0) - BACHELOR OF SCIENCE IN PROFESSIONAL STUDIES (24) IN MARCH, 2014, NEW YORK CHIROPRACTIC COLLEGE WAS NAMED THE AMERICAN CHIROPRACTIC ASSOCIATION'S VERY FIRST RECIPIENT OF ITS CHIROPRACTIC COLLEGE OF THE YEAR AWARD GIVEN AT THE ORGANIZATION'S RECENT HOUSE OF DELEGATES MEETING HELD DURING THE NATIONAL CHIROPRACTIC LEGISLATIVE CONFERENCE IN WASHINGTON, D.C. THE ACA CITED NYCC'S CLOSE WORKING RELATIONSHIP WITH THE ACA AND THE COLLEGE'S FAVORABLE RESULTS IN WORKING WITH THE VA SYSTEM. IN JULY, 2014, FOR THE SIXTH STRAIGHT YEAR NEW YORK CHIROPRACTIC COLLEGE NOT ONLY EARNED A POSITION ON THE CHRONICLE OF HIGHER EDUCATION'S "GREAT COLLEGES TO WORK FOR" LIST AND MADE ITS COVETED "HONOR ROLL" (FOR THE FIFTH CONSECUTIVE TIME), BUT ALSO EARNED TOP RANKINGS IN A VERY RESPECTABLE 10 OUT OF 12 CATEGORIES: COLLABORATIVE GOVERNANCE; COMPENSATION AND BENEFITS; CONFIDENCE IN LEADERSHIP, FACILITIES, WORKSPACE, AND SECURITY; JOB SATISFACTION; PROFESSIONAL/CAREER-DEVELOPMENT PROGRAMS; RESPECT AND APPRECIATION; SUPERVISOR OR DEPARTMENT CHAIR RELATIONSHIP; TEACHING ENVIRONMENT; AND WORK/LIFE BALANCE. IN AN EFFORT TO REDUCE INDIVIDUALIZED INSTRUCTIONAL SPACE REQUIREMENTS THROUGH TECHNOLOGY AND ACCORDINGLY EASE SCHEDULING WHILE BOOSTING INSTRUCTIONAL QUALITY, THE COLLEGE IS IN THE PROCESS OF REFURBISHING AREAS OF ITS ACADEMIC I BUILDING SO AS TO CREATE HYBRID LAB/CLASSROOM SPACE, AND LABS FOR COMPUTERS, MUSCULOSKELETAL PATHOLOGY, HISTOLOGY, PATHOLOGY, X-RAY POSITIONING, AS WELL AS SPACE FOR GROUP/WORK DEMONSTRATIONS. VA MEDICAL CENTERS IN CANADAIGUA AND BUFFALO, NY, COMPRISE TWO OF THE COUNTRY'S FIVE VA-FUNDED DEPARTMENT OF VETERANS AFFAIRS RESIDENCES. NYCC IS AN ACADEMIC AFFILIATE OF BOTH CENTERS IN THIS FIRST-OF-A KIND INITIATIVE. VA RESIDENTS WILL RECEIVE HANDS-ON TRAINING THROUGH THEIR PARTICIPATION IN THE FULL-TIME, YEAR-ROUND, PAID CHIROPRACTIC RESIDENCY PROGRAM THAT IS ADMINISTERED NATIONALLY BY THE VA OFFICE OF ACADEMIC AFFILIATIONS AND LOCALLY BY THE INDIVIDUAL VA FACILITY. THE COLLEGE WAS A MILITARY FRIENDLY SCHOOL THROUGHOUT 2014. A SURVEY ADMINISTERED BY THE PUBLISHER OF G.I. JOBS AND THE GUIDE TO MILITARY FRIENDLY SCHOOLS HAS RANKED NYCC WITHIN THE TOP 15 PERCENT OF OVER 12,000 SCHOOLS NATIONWIDE FOR RECRUITING MILITARY AND VETERAN STUDENTS AND CONTINUING TO IMPROVE ITS EFFORT TOWARDS MILITARY FRIENDLINESS EACH YEAR. STANDARD AND POOR'S AFFIRMED THE COLLEGE'S INVESTMENT GRADE, "BBB" CREDIT RATING FOR ITS LONG TERM BOND OBLIGATIONS, WHILE CHANGING THE COLLEGE'S "OUTLOOK" FROM "STABLE" TO "POSITIVE." FORM 990, PART VI, SECTION A, LINE 1 THE BY-LAWS ("BY-LAWS") OF THE NEW YORK CHIROPRACTIC COLLEGE ("COLLEGE") DELEGATE CERTAIN AUTHORITY OF THE BOARD OF TRUSTEES OF THE COLLEGE ("BOARD") TO AN EXECUTIVE COMMITTEE OF THE BOARD ("EXECUTIVE COMMITTEE") THAT CONSISTS OF THE CHAIR OF THE BOARD, THE CHAIR-ELECT OF THE BOARD (WHEN APPROPRIATE), THE VICE CHAIR OF THE BOARD, THE PRESIDENT OF THE COLLEGE, AND TWO ADDITIONAL TRUSTEES OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY OF THE BOARD BETWEEN MEETINGS OF THE BOARD OTHER THAN (1) THE ELECTION OR REMOVAL OF TRUSTEES, (2) THE AMENDMENT OR REPEAL OF ANY BY-LAW OF THE ADOPTION ON NEW BY-LAWS, (3) THE APPROVAL OR GRANTING OF HONORARY DEGREES, OR (4) THE TAKING OF ANY ACTION THAT THE EXECUTIVE COMMITTEE IS PROHIBITED FROM TAKING BY APPLICABLE NEW YORK LAW, THE BY-LAWS, OF A BOARD RESOLUTION. THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR EVALUATING THE PERFORMANCE OF THE PRESIDENT AND REVIEWING THE COMPENSATION OF THE PRESIDENT AND THE OFFICERS OF THE COLLEGE TO ENSURE THAT THEIR COMPENSATION LEVELS ARE REASONABLE WITHING APPROPRIATE COLLEGE COMPARATIVE BENCHMARKS. FORM 990, PART VI, SECTION A, LINE 2 A TRUSTEE OF THE COLLEGE, MR. ROBERT KERNAN, AND AN OFFICER OF THE COLLEGE, DR. FRANK NICCHI, BOTH SERVE ON THE BOARD OF DIRECTORS OF GENERATIONS BANK. FORM 990, PART VI, SECTION A, LINE 4 THE COLLEGE'S BY-LAWS WERE REVISED TO (1) INCORPORATE CHANGES REQUIRED BY THE NEW YORK NONPROFIT REVITALIZATION ACT OF 2013, (2) INCLUDE CLARIFICATIONS OF SOME OF THE APPLICABLE TAX REQUIREMENTS, (3) ADD A REFERENCE TO THE COLLEGE'S WHISTLEBLOWER POLICY, (4) INCLUDE A DESCRIPTION OF THE DUTIES OF THE SECRETARY TO THE BOARD, (5) ADD A REFERENCE TO THE COLLEGE'S BOARD POLICY FOR ANNUAL PRESIDENTIAL REVIEW AND THE COLLEGE'S EXECUTIVE COMPENSATION POLICY FOR OFFICERS, KEY EMPLOYEES, AND CERTAIN OTHER COVERED PERSONS, AND (6) INCLUDE CERTAIN OTHER CLARIFICATIONS. FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE'S MANAGEMENT STAFF SUBMITS A DRAFT OF THE FORM 990 TO THE AUDIT COMMITTEE OF THE COLLEGE'S BOARD OF TRUSTEES. THE AUDIT COMMITTEE THEN REVIEWS THE DRAFTED FORM 990 AND PROVIDES ANY COMMENTS IT HAS TO THE MANAGEMENT STAFF. THE COLLEGE'S MANAGEMENT STAFF SUBMITS A DRAFT OF PART VII AND SCHEDULE J OF THE FORM 990 TO THE EXECUTIVE COMMITTEE OF THE COLLEGE'S BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE THEN REVIEWS THE DRAFTED PART VII AND SCHEDULE J OF THE FORM 990 AND PROVIDES ANY COMMENTS IT HAS TO THE MANAGEMENT STAFF. ONCE THE REVIEW PROCESS IS COMPLETE, THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE FULL BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS WRITTEN CONFLICT OF INTEREST POLICY THROUGH A REQUIRED ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE FOR TRUSTEES, OFFICERS AND/OR MANAGEMENT STAFF ("COVERED PERSONS"). FURTHER, ALL COVERED PERSONS ARE REQUIRED TO NOTIFY THE AUDIT COMMITTEE OF ANY CHANGES TO THE INFORMATION PROVIDED IN SUCH QUESTIONNAIRE DURING THE YEAR. THE AUDIT COMMITTEE REVIEWS ALL COMPLETED QUESTIONNAIRES (INCLUDING ANY SUBSEQUENT NOTIFICATION OF CHANGES) TO DETERMINE WHETHER A POTENTIAL CONFLICT EXISTS. IF THE AUDIT COMMITTEE DETERMINES THAT A POTENTIAL CONFLICT EXISTS, THE BOARD OF TRUSTEES WILL REVIEW THE POTENTIAL CONFLICT, AND MAY IMPLEMENT PROTECTIVE MEASURES, SUCH AS THE REASSIGNMENT OF THE AFFECTED COVERED PERSON'S RESPONSIBILITIES, IF DEEMED APPROPRIATE. IF A COVERED PERSON FAILS TO COMPLY WITH THE CONFLICT OF INTEREST POLICY, THE BOARD MAY TAKE CORRECTIVE ACTIONS, AS IT DEEMS APPROPRIATE, IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 IN ACCORDANCE WITH THE COLLEGE'S EXECUTIVE COMPENSATION POLICY FOR OFFICERS, KEY EMPLOYEES AND CERTAIN OTHER COVERED PERSONS (COLLECTIVELY, "COVERED PERSONS"), THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF THE COLLEGE ("EXECUTIVE COMMITTEE") REVIEWS EACH PROPOSED COMPENSATION AND BENEFIT ARRANGEMENTS ("PROPOSED ARRANGEMENT") FOR EACH COVERED PERSON TO DETERMINE WHETHER THE PROPOSED ARRANGEMENT SATISFIES THE "REASONABLE COMPENSATION" REQUIREMENTS SET FORTH IN SECTION 4958 OF THE INTERNAL REVENUE CODE ("CODE") (E.G., A REVIEW OF RELEVANT COMPARABILITY DATA, PERFORMANCE REVIEWS AND/OR OTHER DOCUMENTATION SUPPORTING THE PROPOSED ARRANGEMENT). PRIOR TO SUCH REVIEW AND DETERMINATION, THE EXECUTIVE COMMITTEE VERIFIES THAT NONE OF ITS MEMBERS HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE APPLICABLE PROPOSED ARRANGEMENT. IF THE EXECUTIVE COMMITTEE DETERMINES THAT A PROPOSED ARRANGEMENT MEETS THE REASONABLE COMPENSATION REQUIREMENTS IT THEN DOCUMENTS THE REVIEW AND DETERMINATION PROCESS. PROPOSED ARRANGEMENTS FOR THE COLLEGE'S PRESIDENT, VP OF FINANCE AND ADMINSTRATIVE SERVICES AND EXECUTIVE VP AND PROVOST ARE REVIEWED ANNUALLY (I.E., ALL THREE PROPOSED ARRANGEMENTS FOR THE TAX YEAR WERE REVIEWED IN 2013). FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST ON A CASE BY CASE BASIS. FORM 990, PART XI, LINE 9: TEMPORARILY RESTRICTED GIFTS 4,500. ASSETS RELEASED FROM RESTRICTIONS -8,000. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.