2026-05-14T15:03:26-05:00 2025-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2024-07-01 131632522 NYCPM OF TOURO UNIVERSITY FOUNDATION NYCP 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 AVI COHEN SR. DIRECTOR OF FINANCE 2124108100 2026-05-14 1 1 MELISSA MODELSON P01603524 9143818900 2026-05-08 2024 2025-03-06 01:10:19Z X AVI COHEN 53 EAST 124TH STREET NEW YORK NY 10035 21072663 0 X N/A X 1911 NY NYCPM FOUNDATION OF TOURO UNIVERSITY FOUNDATION SUPPORTS ADVANCEMENT OF PODIATRIC MEDICINE EDUCATION. X 9 9 162 10 0 0 341945 287204 15953924 8526733 1305219 678054 2052140 1004005 19653228 10495996 1263195 871774 0 0 11048053 5568923 0 0 0 10121156 6479663 22432404 12920360 -2779176 -2424364 44550752 7825414 19353250 0 25197502 7825414 X NYCPM OF TOURO UNIVERSITY FOUNDATION SUPPORTS SCHOLARSHIPS AND GRANTS THAT WILL PROVIDE SUPPLEMENTAL OR PROJECT-SPECIFIC SUPPORT FOR RESEARCH, ACADEMIC, AND EDUCATIONAL PROGRAMS, EDUCATIONAL FACILITIES, AND OTHER PROGRAMS OR PROJECTS THAT ENHANCE AND SUPPORT THE ADVANCEMENT OF PODIATRIC MEDICINE EDUCATION AT THE NEW YORK COLLEGE OF PODIATRIC MEDICINE OF TOURO UNIVERSITY. THE FOUNDATION ALSO BUILDS AND FOSTERS ONGOING RELATIONSHIPS AMONG ALUMNI AND ALUMNI ORGANIZATIONS ASSOCIATED WITH THE NEW YORK COLLEGE OF PODIATRIC MEDICINE OF TOURO UNIVERSITY, INCLUDING FOSTERING CONNECTIONS BETWEEN ITS STUDENTS, FACULTY, AND STAFF BY PROVIDING RESOURCES, PROGRAMS, NETWORKING OPPORTUNITIES, AND OTHER EVENTS AND ACTIVITIES TO ENCOURAGE SUCH RELATIONSHIPS, AND CREATING MEANINGFUL OPPORTUNITIES TO PROMOTE AND INCREASE ENGAGEMENT, ADVANCEMENT, AWARENESS, LIFELONG LEARNING AND CAREER ADVICE, PRIDE AND PHILANTHROPIC COMMITMENT. 1 1 9192681 871774 8526733 NEW YORK COLLEGE OF PODATRIC MEDICINE PROVIDES TRAINING AND EDUCATION TO MEDICAL STUDENTS IN PODIATRIC MEDICINE. AS OF 12/31/2024, THE COLLEGE TRANSFERED ITS ASSETS AND OPERATIONS TO TOURO UNIVERSITY, WHILE RETAINING $7.5M OF ASSETS TO BECOME A CHARITABLE FOUNDATION SUPPORTING THE PODIATRIC SCHOOL OF TOURO UNIVERSITY. 9192681 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 83 0 162 1 0 1 CJ 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X X AVI COHEN 2124108100 53 EAST 124TH STREET NEW YORK NY 10035 KEITH A GREATHOUSE CHAIRMAN 0.30 0.30 X X 0 0 0 WILLIAM G RAISCH SECRETARY THRU 3/25 0.30 0.00 X X 0 0 0 JORDAN HELLER TREASURER 0.30 0.00 X X 0 0 0 ANDREW A ALBERTI ESQ BOARD MEMBER 0.30 0.00 X 0 0 0 HOWARD BARUCH MD BOARD MEMBER THRU 12/2024 0.30 0.00 X 0 0 0 SUSHEEL BATHLA DPM BOARD MEMBER 0.30 0.30 X 0 0 0 JAY BIENENFELD DPM BOARD MEMBER 0.30 0.30 X 0 0 0 MARC BRENNER DPM BOARD MEMBER 0.30 0.00 X 0 0 0 KATHLEEN REILLY FALLON DPM BOARD MEMBER 0.30 0.30 X 0 0 0 WILLIAM H GRAHAM BOARD MEMBER 0.30 0.00 X 0 0 0 NEWMAN HOFFMAN BOARD MEMBER 0.30 0.00 X 0 0 0 JOEL STURM CHIEF OPERATING OFFICER THRU 12/2024 40.00 10.00 X 250100 0 54788 AMAN SAFAEI CHIEF INFORMATION OFFICER THRU 12/2024 40.00 0.00 X 224972 0 38255 MICHAEL TREPAL VP ACADEMIC AFFAIRS & DEAN THRU 12/2024 40.00 0.00 X 235011 0 55237 AVI COHEN SR. DIRECTOR OF FINANCE 10.00 10.00 X 0 0 0 ALAN KADISH MD CHIEF TRANSITION OFFICER 1.00 1.00 X 0 0 0 SAMUEL ADEGBOYEGA DPM THRU 12/2024 40.00 0.00 X 173183 0 52260 ANTHONY JABRA DPM THRU 12/2024 40.00 0.00 X 173794 0 31699 KEVIN JULES DIRECTOR OF SURGERY DEPT. THRU 12/2024 40.00 0.00 X 171874 0 45514 SAMANTHA LANDAU DPM THRU 12/2024 40.00 0.00 X 162165 0 7262 MATRONA GIAKOUMIS DPM THRU 12/2024 40.00 0.00 X 178282 0 15601 1569381 0 300616 26 0 1 0 SECURITY USA INC 336 WEST 37TH STREET SUITE 450 NEW YORK NY 10018 SECURITY SERVICES 582665 TOURO UNIVERSITY 50 W 47TH STREET 12TH FLOOR NEW YORK NY 10036 SERVICE AGREEMENT 563393 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVE SUITE 300 HARRISON NY 10528 AUDIT & TAX SERVICES 214190 OCULUSIT LLC 422 MORRIS AVE 101 SUMMIT NJ 07901 IT SERVICES 117700 4 96965 190239 287204 STUDENT TUITION AND FEES 611600 7317967 7317967 RESIDENCY LECTURE 611600 592965 592965 CONTINUING EDUCATION 611600 318480 318480 CLINIC SERVICE 621400 297321 297321 8526733 667088 667088 17993 0 17993 17993 17993 10587633 10576667 10966 10966 10966 REIMBURSEMENTS 900099 939398 939398 PARKING SPACE FEES 900099 38375 38375 OTHER INCOME 900099 5541 5541 2698 2698 986012 10495996 8526733 0 1682059 871774 871774 461621 261189 200432 4042992 2882474 1160518 229126 163784 65342 429350 306715 122635 405834 284084 121750 127000 88900 38100 51592 36114 15478 141350 141350 70121 70121 624387 437071 187316 3951 2766 1185 242702 169890 72812 100987 70691 30296 1278087 894660 383427 30846 21592 9254 19016 13311 5705 245231 171662 73569 578646 405052 173594 BAD DEBT EXPENSE 2642318 1849623 792695 REPAIRS AND MAINTENANCE 131969 92378 39591 GUEST LECTURES 116430 116430 MISC. EXPENSES 54647 38253 16394 20383 14268 6115 12920360 9192681 3727679 0 176 0 1836155 9250 1578124 0 5077 0 138382 0 0 0 2824049 0 17159611 7816164 5417457 0 1591354 0 14000367 0 44550752 7825414 1332381 0 2454131 0 15566738 0 19353250 0 X 22076796 7825414 3120706 0 25197502 7825414 44550752 7825414 X -2424364 499621 -15447345 X 0 1 X 1 1 1 X 1059978 2446994 534573 341945 287204 4670694 13971589 14294883 14062105 15953924 8526733 66809234 15031567 16741877 14596678 16295869 8813937 71479928 0 0 0 71479928 1606786 1085268 718287 659429 685081 4754851 1606786 1085268 718287 659429 685081 4754851 2360577 2106056 1938411 2029645 986012 9420701 18998930 19933201 17253376 18984943 10485030 85655480 0.83450 0.05550 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: REIMBURSEMENTS - 2020 AMOUNT: $ 2,074,482. 2021 AMOUNT: $ 2,028,636. 2022 AMOUNT: $ 1,864,895. 2023 AMOUNT: $ 1,894,332. 2024 AMOUNT: $ 939,398. PARKING SPACE FEES - 2020 AMOUNT: $ 239,635. 2021 AMOUNT: $ 49,159. 2022 AMOUNT: $ 43,558. 2023 AMOUNT: $ 74,285. 2024 AMOUNT: $ 38,375. OTHER INCOME - 2020 AMOUNT: $ 46,460. 2021 AMOUNT: $ 28,261. 2022 AMOUNT: $ 29,958. 2023 AMOUNT: $ 61,028. 2024 AMOUNT: $ 8,239. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 552472 15795 568267 520398 40073 7999 552472 508774 19624 8000 520398 1157005 -30241 617990 508774 999369 25000 154922 22286 1157005 0.00000 0.00000 0.00000 0 0 0 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. THE COLLEGE DID NOT HAVE A SPENDING POLICY FOR DONOR RESTRICTED ENDOWMENTS, HOWEVER, THE COLLEGE FOLLOWED THE RESPECTIVE DONOR STIPULATIONS IN EXPENDING INCOME AND GAINS FROM ITS DONOR RESTRICTED ENDOWMENT FUNDS. AS PART OF THE APPROVED AGREEMENT, THE ENDOWMENT WAS TRANSFERED AS OF 1/1/2025 TO TOURO UNIVERSITY. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 PART IV, LINE 3: THE ORGANIZATION IS REQUIRED TO FILE FORM 5471 BECAUSE IT MEETS THE APPLICABLE THRESHOLD OWNERSHIP OR OTHER FILING REQUIREMENTS. 1 MERIT-BASED SCHOLARSHIPS 99 753812 PART I, LINE 2: THE COLLEGE AWARDS GRANTS SCHOLARSHIPS TO NEW INCOMING STUDENTS TO THE COLLEGE. GUARANTEED FOR FIRST YEAR AND MUST MAINTAIN A MINIMUM 3.4 GPA EACH ACADEMIC YEAR TO RECEIVE FOR THE FOLLOWING YEARS AND GRADUATE WITHIN 4/4.5 YEARS. THE COLLEGE DOES NOT NEED TO MONITOR THE USE OF SCHOLORSHIP 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. THESE STUDENTS ARE SELECTED BY THEIR ACADEMIC PERFORMANCE, SERVICE, AND COMMITMENT TO THE PODIATRIC PROFESSION. THROUGHOUT THE YEAR, OTHER STUDENTS RECEIVE SCHOLARSHIPS AS WELL, AS DETERMINED BY THE SCHOLARSHIP COMMITTEE. THESE STUDENTS MEET CERTAIN CRITERIA SET FORTH BY DONORS IN YEARS PAST, OR BY OUTSIDE ORGANIZATIONS THAT DONATE ANNUALLY WITH SPECIFIC CRITERIA. HERE AS WELL, THE COLLEGE DOES NOT NEED TO MONITOR THE USE OF SCHOLORSHIP 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 0 0 0 0 0 0 0 0 0 JOEL STURM CHIEF OPERATING OFFICER THRU 12/2024 247027 0 0 0 3073 0 26173 0 28615 0 304888 0 0 0 MICHAEL TREPAL VP ACADEMIC AFFAIRS & DEAN THRU 12/2024 230399 0 0 0 4612 0 24603 0 30634 0 290248 0 0 0 AMAN SAFAEI CHIEF INFORMATION OFFICER THRU 12/2024 221187 0 0 0 3785 0 6337 0 31918 0 263227 0 0 0 SAMUEL ADEGBOYEGA DPM THRU 12/2024 173026 0 0 0 157 0 11307 0 40953 0 225443 0 0 0 KEVIN JULES DIRECTOR OF SURGERY DEPT. THRU 12/2024 169951 0 0 0 1923 0 18321 0 27193 0 217388 0 0 0 ANTHONY JABRA DPM THRU 12/2024 173794 0 0 0 0 0 4962 0 26737 0 205493 0 0 0 MATRONA GIAKOUMIS DPM THRU 12/2024 178282 0 0 0 0 0 5496 0 10105 0 193883 0 0 0 SAMANTHA LANDAU DPM THRU 12/2024 162165 0 0 0 0 0 4397 0 2865 0 169427 0 0 0 CASH AND INVESTMENTS 2025-01-01 11645585 COST 132676570 TOURO UNIVERSITY 202 WEST 43RD STREET NEW YORK NY 10036 501(C)(3) STUDENT, PERKINS LOANS AND OTHER RECEIVABLES 2025-01-01 2243637 COST 132676570 TOURO UNIVERSITY 202 WEST 43RD STREET NEW YORK NY 10036 501(C)(3) LAND, BUILDINGS & EQUIPMENT 2025-01-01 2614965 COST 132676570 TOURO UNIVERSITY 202 WEST 43RD STREET NEW YORK NY 10036 501(C)(3) OTHER ASSETS INCLUDING PREPAIDS AND RIGHT-OF-USE ASSETS 2025-01-01 13646348 COST 132676570 TOURO UNIVERSITY 202 WEST 43RD STREET NEW YORK NY 10036 501(C)(3) 1 1 0 0 PART II, LINE 2E: PERSON(S) INVOLVED: AVI COHENALAN KADISH, M.D. PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: AVI COHEN AND ALAN KADISH ARE CURRENT EMPLOYEES OF TOURO UNIVERSITY. IN ADDITION, ALAN KADISH IS A CURRENT OFFICER AND TRUSTEE OF TOURO UNIVERSITY. FORM 990, PART III, LINE 2 THE ORGANIZATION NOW OPERATES AS A FOUNDATION DEDICATED TO PROMOTING THE STUDY, PRACTICE, AND PUBLIC BENEFIT OF PODIATRIC MEDICINE. ITS ACTIVITIES MAY INCLUDE PROVIDING FINANCIAL SUPPORT FOR SCHOLARSHIPS, EDUCATIONAL INITIATIVES, RESEARCH, PROFESSIONAL DEVELOPMENT, COMMUNITY HEALTH PROGRAMS, AND OTHER CHARITABLE EFFORTS THAT FURTHER THE ADVANCEMENT OF PODIATRIC MEDICAL EDUCATION AND CARE. FORM 990, PART III, LINE 3 DURING THE TAX YEAR, THE ORGANIZATION CONTINUED ITS CHARITABLE MISSION IN SUPPORT OF PODIATRIC MEDICINE, FOLLOWING THE CESSATION OF ITS PRIOR OPERATIONS AS A PODIATRIC COLLEGE. WHILE THE ORGANIZATION NO LONGER CONDUCTS EDUCATIONAL PROGRAMS AS AN ACADEMIC INSTITUTION AS OF DECEMBER 31, 2024, IT REMAINS COMMITTED TO ADVANCING THE FIELD OF PODIATRIC MEDICINE THROUGH CHARITABLE, EDUCATIONAL, AND SUPPORTIVE ACTIVITIES. FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE PURCHASED MANAGEMENT SERVICES FROM AN UNRELATED THIRD PARTY, TOURO UNIVERSITY ("TOURO"). SERVICES INCLUDED DELEGATED DIRECTOR OF FINANCE RESPONSIBILITIES. MANAGEMENT FEES TOTALING $127,000 WERE PAID DURING FISCAL YEAR 2025 TO TOURO. AVI COHEN, SR. DIRECTOR OF FINANCE, WHO IS LISTED IN PART VII, WAS COMPENSATED $48,000 FOR SERVICES RENDERED TO THE COLLEGE. ALAN KADISH, M.D., PRESIDENT OF TOURO ALSO SERVED AS CHIEF TRANSITION OFFICER DURING THE FISCAL YEAR. HE WAS NOT COMPENSATED FOR HIS SERVICES RENDERED TO THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR, THE ORGANIZATION AMENDED ITS CHARTER TO CHANGE THE NAME OF THE ORGANIZATION AND CHANGE ITS MISSION FROM A ACADEMIC INSTITUTION TO A CHARITABLE FOUNDATION ADVANCING THE FIELD OF PODIATRIC MEDICINE. FORM 990, PART VI, SECTION B, LINE 11B 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 15A OUR AFFILIATION WITH TOURO UNIVERSITY, WHICH WAS FORMALIZED THIS YEAR, HAD NOTED THAT THE POSITION OF PRESIDENT AND CEO WOULD BE ELIMINATED, AND THE INCUMBENT WOULD INHERIT THE TITLE OF PRESIDENT EMERITUS WITHOUT COMPENSATION. BOARD OF TRUSTEES, LED BY THE CHAIRMAN REVIEWED SALARIES AND MADE RECOMMENDATIONS FOR ALL EMPLOYEES OF NYCPM. FORM 990, PART VI, SECTION C, LINE 19 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 OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XI, LINE 9: NET ASSET TRANSFER TO TOURO UNIVERSITY -15,447,345. FOOT CLINICS OF NEW YORK 55 EAST 124TH STREET NEW YORK NY 10035 131655230 AMBULATORY PODIATRIC SERVICES NY 501(C)(3) LINE 10 TOURO UNIVERSITY 0 PODIA INSURANCE LIMITED PO BOX 1109GT GRAND CAYMAN CJ INSURANCE CJ TOURO UNIVERSITY C 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0