2013-06-21T11:22:48-05:00 2012-08-31 KPMG LLP 345 Park Avenue New York NY 101540102 990 2011-09-01 111633516 LONG ISLAND UNIVERSITY % MARK SCHMOTZER LONG 5162992535 700 NORTHERN BLVD BROOKVILLE NY 115481326 ROBERT ALTHOLZ 2013-06-21 true KPMG LLP 2127589700 2011 2016-02-25 16:41:14Z David J Steinberg 700 Northern Blvd Brookville NY 11548 527734188 false X www.liu.edu X 1926 NY Through its mission of access and excellence, educating and empowering students to realize their full potential as ethically grounded, intellectually vigorous and socially responsible global citizens. 37 35 7216 42 0 -1250 25660925 17251567 441391269 461516549 1687727 5351539 -129202 17717 468610719 484137372 89229536 99201445 0 0 259241748 261166059 365010 290944 7232024 117288944 118926563 466125238 479585011 2485481 4552361 506005126 532497967 303477199 333000389 202527927 199497578 X LONG ISLAND UNIVERSITY WAS FOUNDED ON THE PRINCIPLE OF EDUCATING AND EMPOWERING MEN AND WOMEN FROM ALL WALKS OF LIFE. FOR FULL MISSION STATEMENT, SEE SCHEDULE O. false false 362751009 99201445 431806984 INSTRUCTION, ACADEMIC SUPPORT, AND INSTITUTIONAL SUPPORT - THE UNIVERSITY OFFERS BOTH CREDIT AND NONCREDIT COURSES FOR ACADEMIC AND VOCATIONAL INSTRUCTION. THE UNIVERSITY OFFERS 579 DEGREE AND CERTIFICATE PROGRAMS TO OVER 24,000 STUDENTS, AND EMPLOYS OVER 600 FULL-TIME FACULTY OVER SIX CAMPUSES. ACTIVITIES IN THIS CATEGORY ALSO INCLUDE SUPPORT SERVICES SUCH AS LIBRARIES, EDUCATIONAL MEDIA SERVICES, ACADEMIC COMPUTING SUPPORT, ACADEMIC ADMINISTRATION, ETC. THE UNIVERSITY'S LIBRARIES HOUSE APPROXIMATELY 2.6 MILLION PRINT BOOKS AND SHARE OVER 90,000 ONLINE JOURNALS, MORE THAN 200 ONLINE DATABASES AND 50,000 ELECTRONIC BOOKS. 85100112 0 29393226 STUDENT SERVICES AND AUXILIARY ENTERPRISES - REPRESENTS THE ACTIVITIES THAT CONTRIBUTE TO STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE THE CONTEXT OF THE FORMAL INSTRUCTION PROGRAM. ACTIVITIES IN THIS CATEGORY INCLUDE EXPENSES FOR RESIDENCE HALLS, STUDENT ACTIVITIES, CULTURAL EVENTS, STUDENT NEWSPAPERS, INTRAMURAL ATHLETICS, STUDENT ORGANIZATIONS, INTERCOLLEGIATE ATHLETICS, COUNSELING AND CAREER GUIDANCE, STUDENT AID ADMINISTRATION AND STUDENT HEALTH SERVICE. APPROXIMATELY 2,775 STUDENTS RESIDE IN THE DORMS. 4927291 0 316339 RESEARCH AND PUBLIC SERVICE - REPRESENTS ACTIVITIES SPECIFICALLY ORGANIZED TO PRODUCE RESEARCH, WHETHER COMMISSIONED BY AN AGENCY EXTERNAL TO THE INSTITUTION OR SEPARATELY BUDGETED BY AN ORGANIZATIONAL UNIT WITHIN THE INSTITUTION. THIS CATEGORY ALSO INCLUDES ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES BENEFICIAL TO INDIVIDUALS AND GROUPS EXTERNAL TO THE INSTITUTION. THESE ACTIVITIES INCLUDE COMMUNITY SERVICE PROGRAMS. 452778412 true true false true false false false true false true true true false false true true true false true true true false false true true false false false true true true true false false false false false true false true true true true false false false false false false false false true 643 0 true 7216 true false false false false false true true false false false false X 37 35 true false false false false false false true true false false true true true true true true true true false NY X MARK SCHMOTZER 5162992535 700 NORTHERN BLVD BROOKVILLE NY 11548 LINDA E AMPER 1.0 X 0 0 0 ROGER L BAHNIK 1.0 X 0 0 0 STANLEY F BARSHAY 3.0 X 0 0 0 MARK A BOYAR 1.0 X 0 0 0 JOHN R BRANSFIELD JR 1.0 X 0 0 0 ROLAND A DESILVA 1.0 X 0 0 0 MICHAEL DEVINE 1.0 X 0 0 0 MICHAEL N EMMERMAN 3.0 X 0 0 0 GEORGE L ENGELKE JR 3.0 X 0 0 0 DANIEL B FISHER 3.0 X 0 0 0 PETER W GIBSON 1.0 X 0 0 0 MICHAEL P GUTNICK 1.0 X 0 0 0 STEVEN S HORNSTEIN 1.0 X 0 0 0 ALFRED R KAHN 3.0 X 0 0 0 JOHN A KANAS 1.0 X 0 0 0 ERIC KRASNOFF 3.0 X 0 0 0 STEVEN J KUMBLE 3.0 X 0 0 0 LEON LACHMAN 3.0 X 0 0 0 BRIAN K LAND 1.0 X 0 0 0 BYRON E LEWIS 3.0 X 0 0 0 DAVID H LIPKA 1.0 X 0 0 0 HOWARD M LORBER 1.0 X 0 0 0 BRIAN J MADOCKS 3.0 X 0 0 0 THERESA MALL MULLARKEY 3.0 X 0 0 0 ANGELO J MANGIA 1.0 X 0 0 0 MICHAEL MELNICKE 1.0 X 0 0 0 SALVATORE NARO 1.0 X 0 0 0 RICHARD P NESPOLA 3.0 X 0 0 0 WILLIAM R NUTI 1.0 X 0 0 0 JOEL PRESS 3.0 X 0 0 0 THOMAS L PULLING 4.0 X 0 0 0 EDWARD E SHORIN 3.0 X 0 0 0 HARVEY SIMPSON 3.0 X 0 0 0 MARTIN L SPERBER 1.0 X 0 0 0 DAVID J STEINBERG 40.0 X X 479880 0 134025 DAVID A STERLING 1.0 X 0 0 0 SHARON STERNHEIM 1.0 X 0 0 0 SHIRLEY STRUM KENNY 3.0 X 0 0 0 RONALD J SYLVESTRI 3.0 X 0 0 0 EDWARD TRAVAGLIANTI 5.0 X 0 0 0 ERIC TVETER 1.0 X 0 0 0 RICHARD O ULLMAN 1.0 X 0 0 0 ROSALIND P WALTER 1.0 X 0 0 0 ROBERT ALTHOLZ 40.0 X 352991 0 49012 BASHAR BAROUDI 40.0 X 276757 0 71972 PAUL FORESTELL 40.0 X 241637 0 89093 RICHARD GORMAN 40.0 X 349751 0 49293 GALE HAYNES 40.0 X 322336 0 38261 JEFFREY KANE 40.0 X 313338 0 63207 LYNETTE PHILLIPS 40.0 X 289692 0 41112 DANIEL RODAS 40.0 X 287269 0 39476 FRANCIS BONSIGNORE 40.0 X 267200 0 27347 ANTHONY CUTIE 40.0 X 266337 0 45584 LORETTA KNAPP 40.0 X 233488 0 36509 HARVEY KUSHNER 40.0 X 274060 0 41028 MICHAEL SOUPIOS 40.0 X 241202 0 39686 4195938 0 765605 416 false true false ORACLE AMERICA INC 500 ORACLE PKWY REDWOOD SHORES CA 94065 ERP CONSULTANT 1054105 AD LUBOW LLC 1 Penn Plaza 53rd Floor New York NY 10019 ADVERTISING 724311 NEW SEMINARY 1492 E 12th street BROOKLYN NY 11230 ADVERTISING 665111 CENTRAL CONSTRUCTION MANAGEMENT LLC 40-05 Cresent street LONG ISLAND CITY NY 11101 GENERAL CONTRACTING 619477 DNA CONTRACTING LLC 322 Eighth avenue suite 801 NEW YORK NY 10001 GENERAL CONTRACTING 551538 48 538748 11476976 5235843 726929 17251567 TUITION & FEES 900099 422322547 422322547 AUXILIARY ENTERPRISE 900099 29393226 29393226 CONCERT THEATRE 900099 4027848 4027848 COMMISSIONS 900099 945537 945537 UNIVERSITY FEES 900099 926639 926639 3900752 3900752 461516549 713952 0 713952 37185 37185 0 346800 320185 26615 26615 26615 46277498 1145662 42651739 171019 3625759 974643 4600402 4600402 444975 538748 453873 -8898 -8898 0 0 0 0 484137372 461516549 0 5369256 0 99201445 99201445 0 0 2889525 1158345 1273213 457967 558333 558333 187879378 175209944 9316073 3353361 12507268 11748910 536707 221651 43765961 40742469 2159780 863712 13565594 12616002 678280 271312 169190 126530 42660 214194 214194 811507 811507 100762 100762 290944 290944 109462 109462 7283015 6773204 364151 145660 5681401 5283703 284070 113628 9258714 8610604 462936 185174 5504258 5118960 275213 110085 0 26272896 24433793 1313645 525458 4867345 4848634 13365 5346 0 1216309 1174397 29937 11975 7034274 6541875 351714 140685 0 16811111 15634334 840555 336222 814804 757768 40740 16296 FOOD SERVICES 12066207 12066207 BAD DEBTS 6751120 6751120 TUITION REMISSION 3546990 3546990 STUDENT FINANCIAL AID 1285556 1285556 9127448 8488527 456373 182548 479585011 452778412 19574575 7232024 0 0 55205724 89497080 5683296 5030200 24502337 16947952 0 0 0 0 14676789 14997820 0 0 2281704 3346836 536388620 213200432 328477764 323188188 39290750 2115609 22760736 63880693 0 0 0 0 13126026 13493589 506005126 532497967 18539331 17410034 12819376 12921617 60091454 85383924 130593116 127929610 0 0 0 0 1401817 974061 0 0 80032105 88381143 303477199 333000389 X 149192094 145094911 7673189 6871366 45662644 47531301 202527927 199497578 506005126 532497967 X 4552361 -7582710 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 154696 false false 154696 false LOBBYING EXPENSES FORM 990, SCHEDULE C, PART II-B, LINE 1G GIVEN THE IMPACT OF HIGHER EDUCATION FUNDING AND REGULATIONS, IT IS VITAL FOR LONG ISLAND UNIVERSITY TO BE WELL-REPRESENTED IN WASHINGTON, DC, OUR STATE CAPITAL IN ALBANY, NY AND IN CITY HALL. AS PART OF A LARGER COMMUNITY OF HIGHER EDUCATION INSTITUTIONS, LONG ISLAND UNIVERSITY ACTIVELY ADVOCATES FOR INCREASED STUDENT FINANCIAL AID, RESEARCH FUNDING, ECONOMIC DEVELOPMENT AID AND FOR SPECIFIC PROGRAMS THAT ASSIST OUR NEIGHBORING COMMUNITIES. WE OCCASIONALLY LOOK TO GOVERNMENT RELATIONS CONSULTANTS TO ASSIST IN FRAMING STRATEGIC PLANS TO ACCOMPLISH OUR ADVOCACY GOALS, AS WELL AS ENGAGING THE EXPERTISE OF OUR INTERNAL STAKEHOLDERS - OUR WORLD-CLASS FACULTY, PROFESSIONAL ADMINISTRATORS, UNIVERSITY OFFICERS AND THE LEADERSHIP OF OUR TRUSTEES. LONG ISLAND UNIVERSITY'S GOVERNMENT RELATIONS EFFORTS HAVE HELPED SECURE MILLIONS OF DOLLARS IN PUBLIC SUPPORT FOR A WIDE RANGE OF UNIVERSITY PROGRAMS INCLUDING THE LIU HOMELAND SECURITY MANAGEMENT INSTITUTE, THE LIU BROOKLYN BRENDA PILLORS ASTHMA EDUCATION PROGRAM, THE LIU POST GROW YOUR OWN TEACHER PROGRAM, THE TILLES CENTER FOR THE PERFORMING ARTS, THE LIU BROOKLYN WRAC WELLNESS, RECREATION AND ATHLETIC CENTER AND MANY OTHER ENDEAVORS THAT SERVE OUR COMMUNITY, OUR STUDENTS, OUR STATE AND OUR NATION. 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IN ACCORDANCE WITH ASC 958, THE UNIVERSITY DOES NOT CAPITALIZE ITS COLLECTIONS. INTENDED USE OF ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 ENDOWMENT FUND REVENUE IS USED FOR GENERAL OPERATING SUPPORT UNLESS IT IS RESTRICTED BY THE DONOR FOR A SPECIFIC PURPOSE. UNCERTAIN TAX POSITIONS FORM 990, SCHEDULE D, PART X, LINE 2 THE UNIVERSITY HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE AND IS CONSIDERED EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR ANY UNRELATED BUSINESS INCOME. NO PROVISION FOR INCOME TAXES HAS BEEN MADE, AS THE UNIVERSITY HAS NOT REPORTED ANY TAXABLE UNRELATED BUSINESS INCOME. THE UNIVERSITY EVALUATES, ON AN ANNUAL BASIS, THE EFFECTS OF ANY UNCERTAIN TAX POSITIONS ON ITS FINANCIAL STATEMENTS USING A THRESHOLD OF MORE LIKELY THAN NOT. AS OF AUGUST 31, 2012 AND 2011, THE UNIVERSITY HAS NOT IDENTIFIED OR PROVIDED FOR ANY SUCH POSITIONS. RECONCILIATION OF CHANGE IN NET ASSETS FORM 990, SCHEDULE D, PART XI, LINE 8 POSTRETIREMENT CHANGES ................................$ 638,408 CHANGE IN FMV OF INTEREST RATE SWAP AGREEMENTS ........$ (6,086,057) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS ..........$ (87,202) PROVISION FOR UNCOLLECTABLE CONTRIBUTIONS AND GRANTS...$ 65,000 OTHER NON-OPERATING CHANGE IN NET ASSETS...............$ (564) ----------- (5,470,415) RECONCILIATION OF REVENUE PER AUDITED FINANCIALS WITH REVENUE PER RETURN FORM 990, SCHEDULE D, PART XII LINE 2D POSTRETIREMENT CHANGES ................................$ 638,408 CHANGE IN FMV OF INTEREST RATE SWAP AGREEMENTS ........$ (6,086,057) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS ..........$ (87,202) PROVISION FOR UNCOLLECTABLE CONTRIBUTIONS AND GRANTS...$ 65,000 OTHER NON-OPERATING CHANGE IN NET ASSETS...............$ (564) SCHOLARSHIPS...........................................$ (99,201,445) ------------ (104,671,860) LINE 4B RECLASS OF SPECIAL EVENT EXPENSES ............$ (453,873) RECLASS OF RENTAL EXPENSES ...................$ (320,185) ----------- $ (774,058) RECONCILIATION OF EXPENSES PER AUDITED FINANCIALS WITH EXPENSES PER RETURN FORM 990, SCHEDULE D, PART XIII LINE 4B RECLASS OF SPECIAL EVENT EXPENSES ............$ 453,873 RECLASS OF RENTAL EXPENSES ...................$ 320,185 ----------- $ 774,058 LINE 4B SCHOLARSHIPS .................................$ 99,201,445 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATION POLICY FORM 990, SCHEDULE E THE FOLLOWING POLICY APPEARS ON LONG ISLAND UNIVERSITY'S WEBSITE AND UNIVERSITY BULLETINS: LONG ISLAND UNIVERSITY IS COMMITTED TO MAINTAINING A LEARNING AND WORKING ENVIRONMENT THAT IS FREE OF BIAS, PREJUDICE, DISCRIMINATION AND HARASSMENT AND AN ENVIRONMENT THAT SUPPORTS, NURTURES, AND REWARDS CAREER AND EDUCATIONAL ADVANCEMENT PURELY ON THE BASIS OF ABILITY AND PERFORMANCE. DISCRIMINATION OR HARASSMENT BASED UPON RACE, COLOR, RELIGION, SEXUAL ORIENTATION, GENDER AND /OR GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, NATIONAL ORIGIN, EHTNICITY, CITIZENSHIP STATUS, VETERAN OR MILITARY STATUS, AGE, DISABILITY OR ANY OTHER LEGALLY PROTECTED BASIS IS PROHIBITED BY LAW AND UNDERMINES THE CHARACTER AND PURPOSE OF THE UNIVERSITY. SUCH DISCRIMINATION OR HARASSMENT IS ILLEGAL, AGAINST UNIVERSITY POLICY, AND WILL NOT BE TOLERATED. THIS POLICY COVERS ALL MEMBERS OF THE UNIVERSITY COMMUNITY-STUDENTS, FACULTY AND STAFF-AS WELL AS THOSE WHO INTERACT WITH MEMBERS OF THE UNIVERSITY COMMUNITY SUCH AS VENDORS OR VISITORS. THE UNIVERSITY ENCOURAGES EVERYONE TO REPORT ALL INCIDENTS OF DISCRIMINATION OR HARASSMENT, REGARDLESS OF WHO THE OFFENDER MAY BE. GOVERNMENT GRANTS FORM 990, SCHEDULE E, LINE 6A THE UNIVERSITY RECEIVES GRANTS FORM THE FOLLOWING GOVERNMENT AGENCIES TO SUPPORT ITS OPERATIONS: FEDERAL AID: UNITED STATES DEPARTMENT OF EDUCATION UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES NATIONAL SCIENCE FOUNDATION NATIONAL INSTITUTES OF HEALTH DEPARTMENT OF HOMELAND SECURITY DEPARTMENT OF AGRICULTURE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION CORPORATION FOR NATIONAL AND COMMUNITY SERVICE NATIONAL ENDOWMENT FOR THE HUMANITIES NEW YORK STATE AID: NEW YORK STATE HIGHER EDUCATION SERVICES CORPORATION Central America and the Caribbean 1 27 Program Services ACADEMIC INSTRUCTION 725051 South Asia 1 15 Program Services ACADEMIC INSTRUCTION 138100 East Asia and the Pacific 2 10 Program Services ACADEMIC INSTRUCTION 691694 Central America and the Caribbean Investments 10527038 4 52 4 52 12081883 12081883 true false true true true true METHOD USED TO ACCOUNT FOR EXPENDITURES FORM 990, SCHEDULE F, PART I EXPENDITURES ON PART I, LINE 3, COLUMN F ARE REPORTED ON AN ACCRUAL BASIS. 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EACH GRANT OR OTHER FORMS OF ASSISTANCE HAVE SPECIFIC AWARDING CRITERIA AND INDIVIDUAL RULES FOR SELECTION BASED ON MERIT, NEED, AND/OR PERFORMANCE. THESE REQUIREMENTS ARE PUBLISHED EACH YEAR AND ARE ADMINISTERED BY THE CAMPUS FINANCIAL AID OFFICES WHICH ARE ALSO RESPONSIBLE FOR AWARDING AND POSTING TRANSACTIONS TO INDIVIDUAL STUDENT ACCOUNTS. THE DISBURSAL OF FUNDS IS SEGREGATED AND PERFORMED BY THE CENTRAL FINANCIAL AID OFFICE OF THE UNIVERSITY. IN ADDITION, INTERNAL CONTROLS ARE IN PLACE TO ENSURE AMOUNTS ARE AWARDED ACCURATELY TO STUDENTS WHO PROPERLY MEET AND MAINTAIN ELIGIBILITY CRITERIA. ACCOUNTING TRANSACTIONS ARE ROUTINELY RECONCILED THROUGH THE UNIVERSITY'S ERP SYSTEM AND STUDENT ACCOUNTS ARE CONSISTENTLY MONITORED BY ADMINISTRATIVE STAFF. X true true X X X X false false false false false false false false false ROBERT ALTHOLZ 347396 0 0 0 5595 0 26686 0 22326 0 402003 0 0 0 BASHAR BAROUDI 270757 0 0 0 6000 0 26686 0 45286 0 348729 0 0 0 FRANCIS BONSIGNORE 267200 0 0 0 0 0 26686 0 661 0 294547 0 0 0 ANTHONY CUTIE 263945 0 0 0 2392 0 17615 0 27969 0 311921 0 0 0 PAUL FORESTELL 234977 0 0 0 6660 0 25592 0 63501 0 330730 0 0 0 RICHARD GORMAN 332251 0 0 0 17500 0 26686 0 22607 0 399044 0 0 0 GALE HAYNES 319047 0 0 0 3289 0 26686 0 11575 0 360597 0 0 0 JEFFREY KANE 310763 0 0 0 2575 0 26686 0 36521 0 376545 0 0 0 LORETTA KNAPP 227488 0 0 0 6000 0 23298 0 13211 0 269997 0 0 0 HARVEY KUSHNER 270489 0 0 0 3571 0 13309 0 27719 0 315088 0 0 0 LYNETTE PHILLIPS 276941 0 0 0 12751 0 26680 0 14432 0 330804 0 0 0 DANIEL RODAS 281269 0 0 0 6000 0 26686 0 12790 0 326745 0 0 0 MICHAEL SOUPIOS 240935 0 0 0 267 0 14339 0 25347 0 280888 0 0 0 DAVID J STEINBERG 467972 0 0 0 11908 0 26686 0 107339 0 613905 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A AND PART II COMPENSATION DETAILS AND NON-TAXABLE BENEFITS SCHEDULE J, PART II, COLUMN D, INCLUDES NON-TAXABLE HOUSING BENEFIT OF $79,063 AND $50,000 FOR DR. STEINBERG AND PAUL FORESTELL, RESPECTIVELY. BOTH ARE REQUIRED TO RESIDE ON THE UNIVERSITY'S CAMPUS AS A CONDITION OF THEIR EMPLOYMENT. 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BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS FORM 990, SCHEDULE L, PART IV GALE STEVENS HAYNES GALE STEVENS HAYNES IS AN OFFICER OF THE UNIVERSITY AND HAS THREE FAMILY MEMBERS WHO ARE EMPLOYEES OF THE UNIVERSITY: *PIA STEVENS HAYNES - DAUGHTER *OKARITA STEVENS - SISTER-IN-LAW *BRAD COHEN - SON-IN-LAW PAUL FORESTELL PAUL FORESTELL IS AN OFFICER OF THE UNIVERSITY AND HIS SPOUSE, NANCY MARKSBURY, IS AN EMPLOYEE OF THE UNIVERSITY. BRIAN MADOCKS BRIAN MADOCKS WAS A TRUSTEE OF THE UNIVERSITY THROUGH JANUARY 2012, AND A DIRECTOR OF RUFFALO CODY, AN ORGANIZATION WHICH DOES BUSINESS WITH THE UNIVERSITY. X 3 X 12 726929 FAIR MARKET VALUE false true false NUMBER OF CONTRIBUTIONS SCHEDULE M, PART I, COLUMN (B) THE AMOUNT IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. COLLECTION OF ART AND HISTORICAL TREASURES SCHEDULE M, PART I, LINE 1(C) LONG ISLAND UNIVERSITY HAS COLLECTIONS OF ART, HISTORICAL TREASURES, AND OTHER SIMILAR ASSETS HELD FOR RESEARCH, EDUCATION, AND PUBLIC EXHIBITION IN FURTHERANCE OF PUBLIC SERVICE WHICH ARE MAINTAINED UNDER CURATORIAL CARE. IN ACCORDANCE WITH ASC 958, THE UNIVERSITY DOES NOT CAPITALIZE ITS COLLECTIONS. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 MISSION: ACCESS AND EXCELLENCE LONG ISLAND UNIVERSITY WAS FOUNDED ON THE PRINCIPLE OF EDUCATING AND EMPOWERING MEN AND WOMEN FROM ALL WALKS OF LIFE. THROUGH OUR MISSION OF ACCESS AND EXCELLENCE, THE LIU COMMUNITY REMAINS COMMITTED, ABOVE ALL ELSE TO THE EDUCATIONAL NEEDS AND INTERESTS OF OUR DIVERSE STUDENT BODY. WE STRIVE TO CULTIVATE AND EXPAND ACADEMIC, PROFESSIONAL, ARTISTIC AND CO-CURRICULAR OPPORTUNITIES,ENABLING STUDENTS TO REALIZE THEIR FULL POTENTIAL AS ETHICALLY GROUNDED, INTELLECTUALLY VIGOROUS AND SOCIALLY RESPONSIBLE GLOBAL CITIZENS. BUSINESS AND FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 2 ERIC KRASNOFF (TRUSTEE) AND EDWARD TRAVAGLIANTI (TRUSTEE) HAVE A BUSINESS RELATIONSHIP. MR. TRAVAGLIANTI IS A MEMBER OF THE BOARD OF DIRECTORS OF PALL CORPORATION, A NYSE TRADED COMPANY. MR. KRASNOFF WAS CHAIRMAN & CEO OF PALL CORPORATION, RETIRED AS OF MARCH 2012. STEVEN KUMBLE (TRUSTEE) AND DAVID LIPKA (TRUSTEE) HAVE A BUSINESS RELATIONSHIP. MR. KUMBLE IS CHAIRMAN OF CORINTHIAN CAPITAL GROUP, LLC. MR. LIPKA IS THE EXECUTIVE DIRECTOR OF CORINTHIAN CAPITAL GROUP, LLC. FORM 990 REVIEW FORM 990, PART VI, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM (KPMG) BASED ON INFORMATION PROVIDED BY THE BUSINESS AND FINANCE DIVISION OF THE UNIVERSITY. THE AUDIT COMMITTEE THEN REVIEWS THE FORM 990 IN A MEETING ATTENDED BY COMMITTEE MEMBERS, MANAGEMENT AND THE INDEPENDENT ACCOUNTANTS. A COPY OF THE FINAL FORM 990 IS PROVIDED TO THE EACH MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING THE RETURN WITH THE IRS. THE AUDIT COMMITTEE CHAIR, CHIEF FINANCIAL OFFICER AND THE INDEPENDENT ACCOUNTANTS ARE AVAILABLE TO THE BOARD FOR QUESTIONS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ANNUALLY COMPLETE A QUESTIONNAIRE TO DISCLOSE POTENTIAL CONFLICTS. THE QUESTIONNAIRE INCLUDES KEY DEFINITIONS AND EXAMPLES. IN ADDITION, THE CONFLICT OF INTEREST POLICY IS ANNUALLY REVIEWED WITH OFFICERS, DIRECTORS AND KEY EMPLOYEES AND THE SAME ARE REGULARLY REMINDED TO DISCLOSE ANY CHANGES. FOR ALL ACTUAL OR POTENTIAL CONFLICTS THAT ARE IDENTIFIED BY MANAGEMENT, THE AFFECTED PERSON IS ASKED TO RECUSE HIMSELF OR HERSELF FROM ALL DELIBERATIONS, TRANSACTIONS, NEGOTIATIONS AND OTHER MATTERS RELATING TO ANY SUCH INTEREST. NEW OFFICERS, DIRECTORS AND KEY EMPLOYEES UNDERGO AN ORIENTATION WHICH INCLUDES A REVIEW OF THE CONFLICT OF INTEREST POLICY. OFFICER COMPENSATION REVIEW FORM 990, PART VI, LINE 15 A/B COMPENSATION FOR THE UNIVERSITY PRESIDENT AND OTHER UNIVERSITY OFFICERS IS ESTABLISHED BY A PROCESS THAT INCLUDES THE USE OF COMPARABILITY DATA, ANNUAL REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES, AND CONTEMPORANEOUS RECORDKEEPING OF DELIBERATIONS AND DECISIONS. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIR OF THE BOARD OF TRUSTEES, THE SENIOR VICE CHAIR, THE SECRETARY AND FIVE (5) UNIVERSITY CHANCELLORS. THE PRESIDENT DOES NOT PARTICIPATE IN THE SETTING/REVIEW OF HIS COMPENSATION AND ALL DECISIONS ARE MADE BY INDEPENDENT PERSONS WITHOUT A CONFLICT OF INTEREST WITH RESPECT TO COMPENSATION ARRANGEMENTS. DOCUMENT REVIEW POLICY FORM 990, PART VI, LINE 19 LONG ISLAND UNIVERSITY PUBLISHES AN ANNUAL REPORT TO THE COMMUNITY WHICH INCLUDES FINANCIAL STATEMENT HIGHLIGHTS. THIS REPORT IS AVAILABLE ON THE UNIVERSITY'S WEB SITE. THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE GENERAL PUBLIC ON REQUEST. THE 990 IS ALSO AVAILABLE AT WWW.GUIDESTAR.ORG. INVESTMENTS FORM 990, PART X, LINES 11-12 DURING THE FISCAL YEAR ENDED AUGUST 31, 2012, THE UNIVERSITY BEGAN TRANSITIONING FROM USING MULTIPLE FUND MANAGERS TO USING A SINGLE MULTI-STRATEGY LIMITED PARTNERSHIP INVESTMENT FUND WHOSE INVESTMENT STRATEGY FOCUSES ON VARIED TRADITIONAL AND NONTRADITIONAL INVESTMENT OPPORTUNITIES TO PROVIDE A DIVERSIFIED PORTFOLIO FOR INVESTORS. THE FUND'S PORTFOLIO IS GLOBALLY DIVERSIFIED AND ALLOCATED ACROSS MULTIPLE ASSET CLASSES INCLUDING EQUITIES, REAL ASSETS, COMMODITIES/RESOURCES AND FIXED INCOME INSTRUMENTS. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSS ON INVESTMENT..........................$ (2,112,295) POSTRETIREMENT CHANGES ................................$ 638,408 CHANGE IN FMV OF INTEREST RATE SWAP AGREEMENTS ........$ (6,086,057) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS ..........$ (87,202) PROVISION FOR UNCOLLECTABLE CONTRIBUTIONS AND GRANTS...$ 65,000 OTHER NON-OPERATING CHANGE IN NET ASSETS...............$ (564) ----------- (7,582,710) ------------ SCHEDULE K FORM 990, SCHEDULE K BOND ISSUE A - DORMITORY AUTHORITY OF THE STATE OF NEW YORK (2003B series) *THE DIFFERENCE BETWEEN PART I, COLUMN E AND PART II, QUESTION 3 IS DUE TO INTEREST EARNED FROM THE CONSTRUCTION FUND AND DEBT SERVICE FUND. *PART II, QUESTION 11: AMOUNT LISTED INCLUDES STATE AND ISSUER FEES, TITLE INSURANCE AND SURVEY COSTS. BOND ISSUE B - DORMITORY AUTHORITY OF THE STATE OF NEW YORK (2003A series) *THE DIFFERENCE BETWEEN PART I, COLUMN E AND PART II, QUESTION 3 IS DUE TO INTEREST EARNED FROM THE CONSTRUCTION FUND AND DEBT SERVICE FUND. *PART II, QUESTION 11: AMOUNT LISTED INCLUDES STATE AND ISSUER FEES, TITLE INSURANCE AND SURVEY COSTS. BOND ISSUE C - DORMITORY AUTHORITY OF THE STATE OF NEW YORK (2006A-1 series) *PART I, COLUMN F: BONDS REFUNDED THE BORROWER'S INSURED REVENUE BONDS, SUBSERIES 2006A-1 ISSUED NOVEMBER 9, 2006. BOND ISSUE D - DORMITORY AUTHORITY OF THE STATE OF NEW YORK (2006A-2 series) *PART I, COLUMN F: BONDS REFUNDED THE BORROWER'S INSURED REVENUE BONDS, SUBSERIES 2006A-2 ISSUED NOVEMBER 9, 2006.