2014-05-15T15:07:36-05:00 2013-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2012-07-01 132676570 TOURO COLLEGE C/O MELVIN M NESS % STUART LIPPMAN CONTROLLER TOUR 2124630400 27-33 West 23rd Street Suite New York NY 10010 MELVIN NESS 2124630400 2014-05-14 true KPMG LLP 2127589700 2012 2015-11-30 17:44:51Z MELVIN NESS 27-33 WEST 23RD STREET NEW YORK NY 10010 343071308 false X www.touro.edu X 1970 NY SEE SCHEDULE O 15 8 4340 0 0 0 11262480 137517581 185066798 183696065 242298 1474169 10549070 11464731 207120646 334152546 1416000 72659401 0 0 130053196 135228714 0 0 1721916 85261157 83487514 216730353 291375629 -9609707 42776917 294401839 336157011 182119723 168344645 112282116 167812366 X SEE SCHEDULE O false false 194381300 1453401 200261197 WITHIN THE TOURO SYSTEM, TOURO COLLEGE PROVIDED EDUCATION, PRIMARILY IN THE NEW YORK CITY METROPOLITAN AREA, TO APPROXIMATELY 15,000 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 (2,166); GRADUATE (2,003); DOCTORAL OR FIRST PROFESSIONAL (484). 71206000 71206000 130000000 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 AND GRANTS PAID ON THE RESPECTIVE FORMS 990 FOR THOSE SCHOOLS. 265587300 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 true true false false false true false true false true true false false false true true true true false false true 424 0 true 4340 true false true IS GM FR false false false true true false false false false X 15 8 true false false false false false false true true false true true true true true true true true true true false X STUART LIPPMAN CONTROLLER 2124630400 27-33 WEST 23RD STREET NEW YORK NY 10010 X ABRAHAM BIDERMAN 2.0 1.0 X 0 0 0 BEN CHOUAKE 2.0 6.0 X 0 0 0 ALLEN FAGIN 3.0 2.0 X 0 0 0 MENACHEM GENACK 2.0 6.0 X 5847 67217 1920 SOLOMON GOLDFINGER 1.0 0.5 X 0 0 0 MARK HASTEN 12.0 13.1 X 0 0 0 ALAN KADISH 30.0 25.0 X X 521928 0 130271 LEAH KARFUNKEL 0.1 0.5 X 0 0 0 DANIEL LANDER 5.0 32.0 X X 0 204446 149727 DAVID LICHTENSTEIN 0.8 0.3 X 0 0 0 MARTIN OLINER 0.5 2.5 X 0 0 0 LAWRENCE PLATT 2.0 1.0 X 0 0 0 STEVEN ROSENBERG 0.9 0.1 X 0 0 0 ZVI RYZMAN 0.5 0.0 X 0 0 0 JACK WEINREB 0.4 0.2 X 0 0 0 STANLEY BOYLAN 39.0 1.0 X 126810 0 51269 ALAN CINER 52.0 0.0 X 124326 0 57019 ROBERT GOLDSCHMIDT 41.0 0.0 X 150145 0 57014 MOSHE KRUPKA 40.0 17.0 X 108198 0 154330 ERIC LEVINE 28.0 7.0 X 180084 0 69330 MELVIN NESS 25.0 20.0 X 267524 0 38321 ANTHONY POLEMENI 35.0 0.0 X 203729 0 11908 ALAN SCHOOR 42.0 6.0 X 218019 0 71286 JAY SEXTER 40.0 0.0 X 346414 0 14673 ISRAEL SINGER 42.0 0.0 X 122121 0 19037 SHELDON SIROTA DECEASED 2.0 4.0 X 25439 0 38765 FRANKLYN SNITOW 1.0 0.5 X 0 0 0 EVA SPINELLI 35.0 0.0 X 164617 0 19988 FRANKLIN STEEN 29.0 6.0 X 73616 0 2542 MARIAN STOLTZ-LOIKE 68.0 0.0 X 152297 0 12031 STUART FELDMAN 35.0 0.0 X 251213 0 13406 ROBERT GOLDBERG 41.0 0.0 X 332137 0 36310 LAMAR MILLER 35.0 0.0 X 201126 0 21092 MICHAEL NEWMAN 35.0 21.0 X 183301 0 93272 LOUIS PRIMAVERA 35.0 0.0 X 210677 0 17536 DAVID RAAB 14.0 21.0 X 0 259139 40287 PATRICIA SALKIN 55.0 0.25 X 137722 0 11091 HAROLD ABRAMSON 45.0 0.0 X 229204 0 24204 EILEEN KAUFMAN 45.0 0.0 X 208801 0 33947 RICHARD KLEIN 45.0 0.0 X 236468 0 21030 DEBORAH POST 60.0 0.0 X 206317 0 23682 ARTHUR PRANCAN 20.0 15.0 X 252877 0 2173 LAWRENCE RAFUL 40.0 0.0 X 236804 0 21527 5477761 530802 1258988 186 true true false SECURITAS SECURITY SERVICES USA INC PO BOX 403412 ATLANTA GA 303843412 Security 2225913 PERELSON WEINER ONE DAG HAMMARSKJOLD PLAZA NEW YORK NY 100172286 Accounting 1153143 FALK TECHNICAL SERVICES 227 WEST 19TH STREET NEW YORK NY 10011 HVAC REPAIR SERVICES 382219 ALL PRO DESIGN CONSTRUCTION CORP 970 MORRIS PARK AVE BRONX NY 10462 GENERAL CONTRACTOR 492667 WOODBOURNE LAWN GARDEN INC PO BOX 27 WOODBOURNE NY 12788 GENERAL CONTRACTOR 399358 40 147317 4029410 133340854 50286 137517581 STUDENT TUITION / FEES 611600 183696065 183696065 183696065 106171 106171 0 0 0 0 0 10186600 8818602 1367998 1367998 1367998 135965 147317 100160 35805 35805 0 0 0 0 ACADEMIC SUPPORT 900099 6300000 6300000 OTHER INCOME 900099 5128926 2747551 2381375 11428926 334152546 192743616 0 3891349 71222376 71222376 1087025 1087025 350000 350000 0 3446346 1268339 1995313 182694 0 108830651 96832785 11114279 883587 2287969 1999094 270869 18006 13203052 11536061 1563087 103904 7460696 6518724 883259 58713 0 713499 623414 84470 5615 494746 494746 57289 50056 6782 451 0 0 4141859 3618916 490348 32595 528880 462105 62613 4162 3679982 3077948 582359 19675 3788407 3310090 448503 29814 0 27998038 24463061 3314641 220336 1075295 939531 127302 8462 0 172131 150398 20378 1355 312623 312623 12217676 10675096 1446430 96150 0 1179970 1030989 139695 9286 EDUCATIONAL PROGRAMS EXPENSE 11915335 11915335 RECRUITMENT 5205224 5205224 OTHER COSTS 10006560 9250733 708716 47111 291375629 265587300 24066413 1721916 11979636 7045716 0 0 7263776 7479893 2288557 1490540 0 384302 0 0 1879101 1973663 0 0 5089144 4624113 331536793 96190223 240950325 235346570 12193967 13351417 2165250 1775487 136305 406521 0 0 10455778 62278789 294401839 336157011 35690935 28962523 0 0 7184125 17695744 0 0 0 0 0 0 107089916 102431283 0 0 32154747 19255095 182119723 168344645 X 96276643 157802922 14104922 6921000 1900551 3088444 112282116 167812366 294401839 336157011 X 42776917 -300897 13054230 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 57289 false false 57289 false Part II-B, line 1(I) THE UNIVERSITY HIRED LOBBYISTS TO ASSIST IN OBTAINING APPROVAL FROM FEDERAL AND STATE AGENCIES TO ENHANCE THE FACILITIES AND PROGRAMS OF THE COLLEGE. THE COLLEGE OR ITS REPRESENTATIVES MAY MEET WITH LEGISLATORS TO DISCUSS CERTAIN GRANTS. 464345 X false 15627418 1967484 587690 100645 21182 359163 17701602 15307316 821558 428064 55415 436479 437626 15627418 14356611 629824 816963 47377 197300 251405 15307316 13711522 955801 268708 315583 263837 14356611 13581802 704956 -124988 259044 191203 13711523 0.32000 0.12000 0.56000 false false 41577969 41577969 179781942 39193599 140588343 58990014 24852709 34137305 25112855 19959724 5153131 26074013 12184191 13889822 235346570 ARTWORK INVENTORY 464345 OTHER LONG TERM ASSETS 350000 SECURITY DEPOSITS 1352416 ADVANCES/LOANS EMPLOYEES 294233 A/R - OTHER 484487 DUE FROM/TO AFFILIATES, NET 59333308 62278789 0 REFUNDABLE GOVT LOAN PROGRAM 1118378 FEDERAL STUDENT AID SETTLEMENT 3952222 SALE LEASEBACK 14132105 OTHER LIABILITIES 52390 19255095 X 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 $1,756,000 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. 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. PART V, LINE 4: TO PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS, TO ADD OR IMPROVE FACILITIES, TO FUND RESEARCH AND PROVIDE ADDITIONAL PROGRAM FUNDS. PART X, LINE 2: Accounting for Uncertainty in Income Taxes 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, 2013 and 2012, the College does not have any uncertain tax positions or any unrelated business income tax liability, which would have a material impact upon its financial statements. true true true true true true true false false false false false false false false true false true 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. PART I, LINE 6A: EXPLANATION OF GOVERNMENTAL FINANCIAL AID: GOVERNMENT CONTRIBUTIONS (GRANTS) OF $4,029,410. STUDENTS ATTENDING THE COLLEGE MAY ALSO BE ELIGIBLE FOR FEDERAL FINCANCIAL AID INCLUDING STUDENT LOANS. ADDITIONALLY, THE COLLEGE RECEIVED GRANTS FROM THE GOVERNMENT FOR RESEARCH AND FACILITY IMPROVEMENTS. true Europe (Including Iceland and Greenland) 2 35 Program Services Education 2702835 South Asia 0 0 Program Services Education 6062 Middle East and North Africa 1 12 Program Services Education 7287908 Russia and the Newly Independent States 2 27 Program Services Education 188179 East Asia and the Pacific 0 0 Program Services Education 59107 5 74 5 74 10244091 10244091 Middle East and North Africa SEE PART V 350000 Wire 1 0 true false true false false false PART I, LINE 2: PERIODIC SITE VISITS BY COLLEGE ADMINISTRATORS AND FACULTY REVIEW LOCAL OPERATIONS. SIGNIFICANT OPERATIONS HAVE REVIEWS BY LOCAL INDEPENDENT AUDITORS. PART II, COLUMN D: REGION : MIDDLE EAST & NORTH AFRICA PURPOSE OF GRANT: FINANCIAL SUPPORT TO AN ISRAELI COLLEGE THAT WAS FOUNDED BY THE COLLEGE TO OPERATE AS AN INDEPENDENT ENTITY IN ISRAEL TO CARRY OUT THE COLLEGE'S MISSION FOR ISRAELI CITIZENS. NY Fundraiser 167051 109431 57620 53393 Fundraiser 57270 13970 43300 54571 1 57176 6890 50286 7990 2789 281497 130291 151206 115954 2789 118743 32463 true Afikim Foundation 111 John Street New York NY 10038 710866051 501 (C) (3) 9000 GRANT TO SUPPORT AN ORG. THAT PERPETUATES TOURO UNIVERSITY COLLEGE OF MEDICINE INC 27-33 WEST 23RD STREET NEW YORK NY 10010 680646771 501(C)(3) 34898096 BOOK DEEMED GRANT FORGAVE Yeshivas Ohr Hachaim 27-33 WEST 23RD STREET NEW YORK NY 10010 112808947 501(C)(3) 36308000 BOOK DEEMED GRANT FORGAVE 3 Fellowships 109 98165 Faculty Research Salary 67 248470 Faculty Research Asst Salary 346 126751 Student Stipends 677 269925 STUDENT LOANS 43 343715 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. Part II, Line 1 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 AND GRANTS PAID ON THE RESPECTIVE FORMS 990 FOR THOSE SCHOOLS. X X X X false true X X false false false false false false false false false HAROLD ABRAMSON 227670 0 0 0 1534 0 12173 0 12031 0 253408 0 0 0 STANLEY BOYLAN 124906 0 0 0 1904 0 6327 0 44942 0 178079 0 0 0 ALAN CINER 123149 0 0 0 1177 0 0 0 57019 0 181345 0 0 0 STUART FELDMAN 246895 0 0 0 4318 0 11233 0 2173 0 264619 0 0 0 ROBERT GOLDBERG 330599 0 0 0 1538 0 12091 0 24219 0 368447 0 0 0 ROBERT GOLDSCHMIDT 148509 0 0 0 1636 0 7864 0 49150 0 207159 0 0 0 ALAN KADISH 517410 0 0 0 4518 0 12500 0 117771 0 652199 0 0 0 EILEEN KAUFMAN 207468 0 0 0 1333 0 10920 0 23027 0 242748 0 0 0 RICHARD KLEIN 233537 0 0 0 2931 0 12100 0 8930 0 257498 0 0 0 MOSHE KRUPKA 106522 0 0 0 1676 0 6288 0 148042 0 262528 0 0 0 DANIEL LANDER 0 203620 0 0 0 826 0 10073 0 139654 0 354173 0 0 ERIC LEVINE 179130 0 0 0 954 0 8981 0 60349 0 249414 0 0 0 LAMAR MILLER 200452 0 0 0 674 0 10083 0 11009 0 222218 0 0 0 MELVIN NESS 262301 0 0 0 5223 0 12500 0 25821 0 305845 0 0 0 MICHAEL NEWMAN 183104 0 0 0 197 0 0 0 93272 0 276573 0 0 0 ANTHONY POLEMENI 203667 0 0 0 62 0 10083 0 1825 0 215637 0 0 0 DEBORAH POST 204957 0 0 0 1360 0 11092 0 12590 0 229999 0 0 0 ARTHUR PRANCAN 250261 0 0 0 2616 0 0 0 2173 0 255050 0 0 0 LOUIS PRIMAVERA 207985 0 0 0 2692 0 11344 0 6192 0 228213 0 0 0 DAVID RAAB 0 259139 0 0 0 0 22500 0 17787 0 299426 0 0 LAWRENCE RAFUL 235220 0 0 0 1584 0 12500 0 9027 0 258331 0 0 0 ALAN SCHOOR 214195 0 0 0 3824 0 11346 0 59940 0 289305 0 0 0 JAY SEXTER 345487 0 0 0 927 0 12500 0 2173 0 361087 0 0 0 EVA SPINELLI 162849 0 0 0 1768 0 8273 0 11715 0 184605 0 0 0 MARIAN STOLTZ-LOIKE 151753 0 0 0 544 0 0 0 12031 0 164328 0 0 0 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. 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 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. LAWRENCE RAFUL KEY EMPLOYEE PURCHASE A RESIDENCE X 200000 200000 false false true DANIEL LANDER TRUSTEE PURCHASE A RESIDENCE X 280000 184302 false false true 384302 Martin Oliner Trustee Touro College 431000 RENT EXPENSE false Franklyn Snitow- non-voting trustee Secretary Touro College 117768 LEGAL FEES false LANDER ESTATE TRUSTEE Touro College 1391756 DECEASED PRESIDENT's DFRD COMP false MARK HASTEN TRUSTEE TOURO COLLEGE 5000000 LOAN GUARANTY false SOLOMON GOLDFINGER TRUSTEE'S DAUGHTER SPOUSE 63748 COMPENSATION- FACULTY false SOLOMON GOLDFINGER TRUSTEE'S SISTER'S SPOUSE 56494 COMPENSATION- FACULTY false DANIEL LANDER TRUSTEE'S SPOUSE 46354 COMPENSATION- ADMINISTRATION false DANIEL LANDER TRUSTEE'S SISTER 88996 COMPENSATION- ADMINISTRATION false DANIEL LANDER TRUSTEE'S SISTER'S SPOUSE 132600 COMPENSATION- DEAN false DANIEL LANDER TRUSTEE'S SISTER 62424 COMPENSATION- FACULTY false DANIEL LANDER TRUSTEE'S SISTER 86561 COMPENSATION- ADMINISTRATION false MARK HASTEN TRUSTEE'S GRANDDAUGHTER 31536 COMPENSATION- ADMINISTRATION false STANLEY BOYLAN OFFICER'S SPOUSE 44104 COMPENSATION- FACULTY false SHELDON SIROTA OFFICER'S SON 115608 COMPENSATION- FACULTY false SCH L PART 4 BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS THE COLLEGE PAID LEGAL FEES FOR MULTIPLE MATTERS TO SNITOW, KANFER HOLTZER & MILLUS LLP, AS OUTSIDE GENERAL COUNSEL. THE SECRETARY OF TOURO COLLEGE, FRANKLYN SNITOW, IS A PARTNER IN THAT LAW FIRM. SNITOW DOES NOT RECEIVE ANY SALARY FROM TOURO. THE COLLEGE PAID RENT TO 878 EDUCATION LLC, WHERE MARTIN OLINER ESQ, TRUSTEE OF TOURO COLLEGE, IS PRESIDENT. The property was rented pursuant to a sublease with the same terms as the primary lease with an unrelated third party and the sublease was terminated as of June 30, 2012. The property was used for extra classroom space which promotes the organization's mission. TOURO COLLEGE IS A GUARANTOR OF A LOAN FROM MARK HASTEN, TRUSTEE OF TOURO COLLEGE RELATED ORGANIZATION. X 1365 Selling Price X 4336 Selling Price X 18 3570 Selling Price X Hotels & Food 77 13947 Selling Price X Event Tickets 43 10451 Selling Price X Educational Supplies 36 16617 Selling Price X INTERCOMPANY PAYABLE FORIVEN 2 130000000 Book false false false FORM 990, PART I, 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 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. FORM 990, PART VI, SECTION A, LINE 2: JAY SEXTER AND EVA SPINELLI ARE HUSBAND AND WIFE. FORM 990,PART VI, SECTION B, LINE 11: 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: THE ANNUAL BOARD QUESTIONNAIRE, WHICH REQUIRES DISCLOSURE OF INTEREST AND OTHER DETAILS, IS CIRCULATED TO ALL OF THE BOARD MEMBERS AND IS REVIEWED BY IN-HOUSE COUNSEL. FORM 990, PART VI, SECTION B, LINE 15: THE BOARD AND OFFICERS, WHO ARE FREE OF ANY CONFLICT, APPROVE EXECUTIVE HIRING DECISIONS. IN MAKING COMPENSATION DETERMINATIONS, THE BOARD CONSIDERS EXPERT REPORTS AND COMPENSATION TRENDS IN THE INDUSTRY, QUALIFICATIONS AND OTHER MERITS OF THE CANDIDATES IN DECIDING COMPENSATION AND OTHER EMPLOYEE BENEFITS. ALL SUCH BOARD DECISIONS ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19: THE COLLEGE MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC. Certain governing policies are included in Touro College; however its conflict of interest policy and financial statements are not made public. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: PRIOR YEAR ADJUSTMENT IN SCHEDULE O $12,723,026 STUDENT LOANS $ 343,714 OTHER ADJUSTMENTS $ (12,510) ============ TOTAL TO FORM 990 PART 11 LINE 5 $13,054,230 Warwick Academic Associates LLC c/o Touro College 27 West 23R New York NY 10010 204236301 Holding Co. 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