Albany College Of Pharmacy And Health Sciences in Albany, New York (NY)

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Albany College Of Pharmacy And Health Sciences
Employer Identification Number (EIN)141423161
Name of OrganizationAlbany College Of Pharmacy And Health Sciences
Address106 New Scotland Ave, Albany, NY 12208-3425
ActivitiesSchool, college, trade school, etc.
SubsectionEducational Organization
Ruling Date03/1926
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$122,789,201
Amount of Income$82,035,565
Form 990 Revenue Amount$61,355,494
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Graduate, Professional Schools (Separate Entities)


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Amount of income in 2014: $82,035,565
Albany College Of Pharmacy And Health Sciences: 

 $82,035,565
Other organizations performing similar types of work: 

 $34,257,295

Assets in 2014: $122,789,201
Albany College Of Pharmacy And Health Sciences: 

 $122,789,201
Other organizations performing similar types of work: 

 $64,480,162

Expenses in 2014: $55,674,846
This organization: 

 $55,674,846
Other organizations performing similar types of work: 

 $24,968,416

Income to expenses ratio in 2014: 1.5
This organization: 

 1.5
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 77.9%
This organization: 

 77.9%
Other organizations performing similar types of work: 

 75.4%

Number of employees in 2014: 884
This organization: 

 884
Other organizations performing similar types of work: 

 409

Employees paid over $100,000 in 2014: 6.6%
Albany College Of Pharmacy And Health Sciences: 

 6.6%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2014: 1.5%
Albany College Of Pharmacy And Health Sciences: 

 1.5%
Other organizations performing similar types of work: 

 10.5%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?YesYesYes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYesYes
Did the organization report an amount for land, buildings, and equipment?YesYesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other liabilities?YesYesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?YesYesYes
Did the organization maintain an office, employees, or agents outside of the United States?NoNoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNoNo
Did the organization operate one or more hospital facilities?NoNoNo
Did the organization attach a copy of its audited financial statements?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNoYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNoNo
A family member of a current or former officer, director, trustee, or key employee?YesYesYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYesYes
Did the organization receive more than $25,000 in non-cash contributions?YesYesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNoNo
Was the organization related to any tax-exempt or taxable entity?YesYesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 1096151135152
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return913946884
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,741,656$1,777,950$1,840,640
Total reportable compensation from related organizations$0$0$0
Total estimated amount of other compensation from the organization and related organizations$154,367$158,864$194,868
Total number of individuals who received more than $100,000 of reportable compensation from the organization73838
Total number of independent contractors who received more than $100,000 of compensation from the organization52520
Statement of Revenue
2011201220132014
Total revenue$53,005,196$56,440,377$58,954,739$61,355,494
Contributions, Gifts, Grants and Other Similar Amounts$2,359,415$1,475,719$1,226,030$926,668
Program Service Revenue$49,062,254$53,450,021$55,789,713$56,597,840
611600$50,915,645$53,142,771$53,934,024
611600$2,534,376$2,646,942$2,648,344
611600$0$0$15,472
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$384,216$492,316$649,087$911,589
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$59,108$74,283$75,321$74,108
Gross rents (Real / Personal)$63,109 / $0$77,481 / $0$78,396 / $0$76,048 / $0
Less: rental expenses (Real / Personal)$4,001 / $0$3,198 / $0$3,075 / $0$1,940 / $0
Rental income or (loss) (Real / Personal)$59,108 / $0$74,283 / $0$75,321 / $0$74,108 / $0
Net gain/loss from sales of assets other than inventory$111,402$202,812$349,636$2,047,507
Gross amount from sales of assets other than inventory (Securities / Other)$5,495,010 / $33,000$3,917,406 / $32,220$8,280,278 / $58,632$22,676,594 / $0
Less: cost or other basis and sales expenses (Securities / Other)$5,381,870 / $34,738$3,716,646 / $30,168$7,933,645 / $55,629$20,584,412 / $44,675
Gain or (loss) (Securities / Other)$113,140 / $-1,738$200,760 / $2,052$346,633 / $3,003$2,092,182 / $-44,675
Net income/loss from fundraising events$-16,065$-8,894$-37,017$-20,441
Gross income from fundraising events$16,310$17,718$31,889$28,603
Less: direct expenses$32,375$26,612$68,906$49,044
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$1,044,866$754,120$901,969$818,223
900099$754,120$901,969$818,223
All other revenue$0$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$47,017,513$50,257,756$53,861,354$55,674,846
Grants and other assistance to domestic organizations and domestic governments$0$0$220,548
Grants and other assistance to domestic individuals$6,656,195$8,024,936$9,078,372
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$651,430$696,007$451,763$813,719
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$16,853,589$18,518,672$19,941,215$19,352,033
Pension plan accruals and contributions$1,798,751$1,964,108$1,844,764
Other employee benefits$2,011,238$2,425,159$2,588,041
Payroll taxes$1,339,134$1,469,922$1,560,064$1,542,680
Fees for services (non-employees)
Management$0$0$0
Legal$126,610$126,652$64,993
Accounting$98,725$72,625$97,450
Lobbying$0$0$56,293
Professional fundraising services$0$0$0$0
Investment management fees$0$0$110,115
Other$56,817$56,053$55,269
Advertising and promotion$189,668$263,079$294,589
Office expenses$2,078,319$1,606,785$1,522,142
Information technology$414,657$445,739$386,673
Royalties$0$0$0
Occupancy$3,086,052$3,475,638$3,683,522
Travel$398,209$408,101$367,600
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$334,661$444,519$505,773
Interest$853,643$663,860$665,839
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$5,042,557$5,534,978$5,524,875
Insurance$309,879$343,993$358,508
Other expenses$1,986,768$2,157,615$1,480,834
Other expenses$1,476,998$1,414,001$2,229,933
Other expenses$841,104$688,370$935,439
Other expenses$340,134$379,220$393,324
Other expenses$1,472,170$1,412,881$1,501,518
Balance Sheet
2011201220132014
Total assets$105,523,944$110,490,375$116,900,459$122,789,201
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$21,912,988$27,121,055$19,866,929
Pledges and grants receivable, net$2,194,761$1,957,501$996,049
Accounts receivable, net$650,432$691,841$630,535
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$2,749,290$2,562,814$2,825,940
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$335,041$564,081$238,122
Land, buildings, and equipment: cost or other basis$55,310,497$53,983,869$51,669,867
Investments - publicly traded securities$21,310,084$24,959,437$41,268,396
Investments - other securities$656,111$475,856$489,512
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$5,371,171$4,584,005$4,803,851
Total liabilities$44,555,631$43,586,160$43,679,308$42,016,448
Accounts payable and accrued expenses$1,439,994$2,623,425$2,145,132
Grants payable$2,236,208$2,287,993$2,303,594
Deferred revenue$9,553,209$9,026,864$8,253,996
Tax-exempt bond liabilities$27,215,504$26,858,760$26,472,016$25,865,272
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$3,497,989$3,269,010$3,448,454
Total net assets or fund balances$60,968,313$66,904,215$73,221,151$80,772,753
Unrestricted net assets$57,769,470$63,511,754$70,328,242
Temporarily restricted net assets$1,653,021$2,032,185$2,504,974
Permanently restricted net assets$7,481,724$7,677,212$7,939,537
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022004200520062007
Total revenue$13,379,590$12,771,500$15,299,315$22,974,241$28,013,076$33,468,951$40,100,333
Contributions, gifts, grants, and similar amounts received$3,941,660$2,537,361$2,403,163$2,780,148$2,476,613$4,136,236$5,265,124
Contributions to donor advised funds$0$0
Direct public support$3,021,420$1,851,562$1,893,765$1,236,944$1,626,335$2,418,274$3,245,008
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$920,240$685,799$509,398$1,543,204$850,278$1,717,962$2,020,116
Program service revenue including government fees and contracts$9,373,756$10,529,970$12,858,351$19,823,565$24,441,922$28,117,591$33,261,062
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$231,623$150,526$368,772
Dividends and interest from securities$584,293$340,532$250,347$349,404$341,651$563,408$453,882
Net rental income or (loss)$0$0$0$0$0$44,626$103,257
Gross rents$0$0$0$0$0$68,874$170,077
Less: rental expenses$0$0$0$0$0$24,248$66,820
Other investment income$-535,486$-305,439$453,521$175,878$0$0$0
Gain or (loss) from sales of assets other than inventory$15,367$-330,924$-666,067$-154,754$521,267$166,995$94,020
Gross amount from sales of assets other than inventory$55,116$0$0$0$521,267$6,408,767$5,313,384
Less: cost or other basis and sales expenses$39,749$330,924$666,067$154,754$0$6,241,772$5,219,364
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$289,569$554,216
Total expenses$11,935,562$12,896,882$15,383,487$20,578,582$24,563,935$27,659,763$31,781,441
Program services$9,252,716$9,829,416$12,003,211$16,192,100$19,188,818$21,335,583$24,749,469
Management and general$2,151,163$2,597,530$2,959,940$3,744,896$4,736,753$5,247,766$5,760,187
Fundraising$531,683$469,936$420,336$641,586$638,364$1,076,414$1,271,785
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$20,356,953$20,231,571$20,147,399$21,873,174$25,053,611$32,632,816$39,918,943
Excess or (deficit) for the year$1,444,028$-125,382$-84,172$2,395,659$3,449,141$5,809,188$8,318,892
Net assets or fund balances at beginning of year$18,912,924$20,356,953$20,231,571$20,607,847$21,873,174$25,053,611$32,632,816
Other changes in net assets or fund balances$1$0$0$-1,130,332$-268,704$1,770,017$-1,032,765
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$31,781,441$24,749,469$5,760,187$1,271,785
Grants paid from donor advised funds$0
Other grants and allocations$130,531
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$745,312$0$745,312$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$12,125,516$9,474,836$2,055,092$595,588
Pension plan contributions not included above$1,162,636$810,818$286,303$65,515
Employee benefits not included above$1,366,487$1,100,846$207,184$58,457
Payroll taxes$978,956$724,825$208,569$45,562
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$1,494,294$1,051,320$358,828$84,146
Telephone$98,597$9,893$82,496$6,208
Postage and shipping$72,747$8,974$55,546$8,227
Occupancy$1,742,795$1,742,795$0$0
Equipment rental and maintenance$1,127,431$954,272$173,159$0
Printing and publications$287,473$183,551$2,494$101,428
Travel$310,013$183,057$68,323$58,633
Conferences, conventions, and meetings$0$0$0$0
Interest$1,524,782$1,524,782$0$0
Depreciation, depletion, etc.$2,645,847$2,645,847$0$0
Other expenses not covered above$5,968,024$4,203,122$1,516,881$248,021
Balance Sheets
2000200120022004200520062007
Total assets$33,707,840$36,148,549$35,831,508$54,451,343$59,247,317$72,416,182$82,219,254
Cash - non-interest-bearing$500$500$755$700$454$12,976$0
Savings and temporary cash investments$2,012,552$893,764$412,682$3,094,918$7,464,468$9,340,167$14,801,492
Accounts receivable less allowance for doubtful accounts$88,294$141,727$215,402$200,113$195,880$724,688$425,919
Pledges receivable less allowance for doubtful accounts$1,446,075$2,166,516$1,135,609$783,190$593,536$619,291$1,145,057
Grants receivable$186,190$354,239$198,653$844,399$178,752$1,325,480$1,583,276
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,903,774$1,942,027$1,822,720$3,363,699$3,985,720$3,441,726$2,931,367
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$68,238$77,116$161,929$764,259$392,805$1,171,133$1,491,921
Investments - publicly-traded securities$10,221,065$9,815,330
Investments - other securities$7,721,185$7,400,872$6,642,105$7,647,249$8,391,062$0$168,710
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$821,564$602,476
Land, buildings, and equipment less accumulated depreciation$15,785,277$19,251,991$21,274,043$26,163,791$35,288,919$42,317,471$45,602,328
Other assets, including program-related investments$4,495,755$3,919,797$3,967,610$11,589,025$2,755,722$2,420,621$3,651,378
Total liabilities$13,350,887$15,916,978$15,684,109$32,578,169$34,193,706$39,783,366$42,300,311
Accounts payable and accrued expenses$566,620$429,830$275,347$2,201,301$3,410,205$1,928,908$895,967
Grants payable$1,690,660$1,764,250$1,850,223$2,070,835$2,089,184$2,105,992$2,133,125
Deferred revenue$592,716$859,787$953,440$2,255,884$2,471,254$8,555,437$8,539,234
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$8,889,199$11,273,661$10,902,222$22,345,968$22,334,224$22,322,480$29,320,736
Mortgages and other notes payable$202,685$215,722$229,598$2,443,082$2,170,208$3,879,015$0
Other liabilities$1,409,007$1,373,728$1,473,279$1,261,099$1,718,631$991,534$1,411,249
Total liabilities and net assets/fund balances$33,707,840$36,148,549$35,831,508$54,451,343$59,247,317$72,416,182$82,219,254
Total net assets or fund balances$20,356,953$20,231,571$20,147,399$21,873,174$25,053,611$32,632,816$39,918,943
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022004200520062007
Total revenue$0$0$0$0$28,013,076$33,468,951$40,100,333
Total revenue, gains, and other support per audited financial statements$0$0$0$0$27,744,372$34,336,221$39,619,251
Other expenses$0$0$0$0$-268,704$966,853$66,820
Net unrealized gains on investments$0$0$0$0$-268,704$942,605$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$24,248$66,820
Other revenue$0$0$0$0$0$99,583$547,902
Investment expenses$0$0$0$0$0$99,583$0
Other$0$0$0$0$0$0$547,902
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022004200520062007
Total expenses$0$0$0$0$0$27,659,763$31,781,441
Total expenses and losses per audited financial statements$0$0$0$0$0$27,584,428$32,303,465
Other revenue$0$0$0$0$0$24,248$1,069,926
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$1,003,106
Other$0$0$0$0$0$24,248$66,820
Other expenses$0$0$0$0$0$99,583$547,902
Investment expenses$0$0$0$0$0$99,583$0
Other$0$0$0$0$0$0$547,902
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$352,100$31,600$0
40$200,000$26,400$0
40$119,200$16,012$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings21
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006236
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$4,887,113$29,948,096
Program service revenue
Program service revenue 1000000$000$0$27,851,362
Program service revenue 2000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$2,296,642$0
Program service revenue 3000000$000$0$1,147,500
Program service revenue 4000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$1,119,581$0
Program service revenue 5000000$000$0$845,977
$0$0$27,851,362
$0$0$727,900
$0$0$1,147,500
$0$0$118,077
$03$2,296,642$0
$03$1,119,581$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$368,772$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$453,882$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$103,257
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$94,020$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$554,216$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$259,993$31,598$0
$143,602$19,896$0
$140,412$22,745$0
$140,200$18,322$0
$119,700$20,467$0
Total number of other employees paid over $50,000104
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
1999200020012003200420052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Icahn School Of Medicine At Mount SinaiPO BOX 28980, New York, NY 10087-8980NY1964-02$1,650,143,474
2New York Medical CollegeAdministration Building, Valhalla, NY 10595NY1940-08$366,170,364
3Bar Ilan University In Israel160 E 56th St Fl 5, New York, NY 10022-3609NY1965-09$348,299,011
4Teachers College Columbia University525 West 120th Street Box 235, New York, NY 10027-6605NY1935-01$180,766,497
5New York Law School185 W Broadway, New York, NY 10013-2921NY1935-03$119,139,015
6Feinberg Graduate School Of The Weizmann Institute Of Science633 3rd Ave Fl 20, New York, NY 10017-8156NY1967-09$110,873,174
7Brooklyn Law School250 Joralemon St, Brooklyn, NY 11201-3700NY1973-01$91,354,378
8Albany College Of Pharmacy And Health Sciences106 New Scotland Ave, Albany, NY 12208-3425NY1926-03$82,035,565
9Bank Street College Of Education610 W 112th St, New York, NY 10025-1898NY1938-06$77,162,976
10Rabbi Isaac Elchanan Theological Seminary2540 Amsterdam Ave, New York, NY 10033-2807NY1973-12$52,768,663
11Albany Law School80 New Scotland Ave, Albany, NY 12208-3434NY1969-08$45,021,949
12New York Chiropractic College2360 Route 89, Seneca Falls, NY 13148NY1947-10$35,555,806
13Union Theological Seminary3041 Broadway, New York, NY 10027-5701NY1934-11$21,549,923
14New York College Of Podiatric Medicine53 E 124th St, New York, NY 10035-1815NY1955-10$20,056,034
15Webb Institute Of Naval ArchitectureCrescent Beach Road, Glen Cove, NY 11542NY1942-10$14,692,835
16The Commonwealth Medical College525 Pine St, Scranton, PA 18509-3240PA2007-12$34,257,295
17Semmes-Murphey Foundation6325 Humphreys Blvd, Memphis, TN 38120-2300TN2010-07$916,657
18Wyoming State Bar FoundationPO BOX 109, Cheyenne, WY 82003-0109WY1982-05$144,184
19Houston Institute Of Biblical Development, Hibd5815 Airline Dr, Houston, TX 77076-4922TX2007-08$0
20School Of Communication Information And Library Studies, School Of Communication And Information Alumni Association4 Huntington Street, New Brunswick, NJ 08901NJ2000-04$0
Number of organizations performing similar types of work
Arizona3
California18
Colorado1
Connecticut1
District of Columbia1
Florida2
Georgia2
Iowa3
Illinois8
Indiana1
Kentucky1
Louisiana1
Massachusetts10
Maine3
Michigan4
Minnesota5
Missouri4
Mississippi1
North Carolina2
Nebraska2
New Hampshire2
New Jersey1
Nevada1
New York17
Ohio4
Oregon2
Pennsylvania11
Rhode Island2
South Carolina3
Tennessee6
Texas9
Virginia3
Wisconsin1
Wyoming1
International2
Total138

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