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Nonprofiteer
← NEW YORK INSTITUTE OF TECHNOLOGY

Form 990 for tax year 2024

Filed by NEW YORK INSTITUTE OF TECHNOLOGY.

Totals

Total revenue
$381,995,828
Total expenses
$369,691,908
Contributions and grants received
$9,008,972
Grants paid
$86,063,839
Program services expenses (Part IX)
$350,269,586
Management and general expenses
$16,833,420
Fundraising expenses
$2,588,902
Program service expenses (Part III)
$350,269,586

Program services were 94.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DR HENRY FOLEY

    PRESIDENT (THRU 06/30/2025)

    Total calculated
    $1,586,183
    From this org
    $1,534,600
    From related orgs
    $0
    Other
    $51,583
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $839,600
    Bonus
    $275,000
    Other
    $420,000
    Deferred
    $24,150
    Nontaxable benefits
    $27,433
    Filer's total
    $1,586,183

  • PETER J ROMANO

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    5

  • DAN FERRARA

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • MICHAEL J MERLO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • CATHERINE ALLEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • ANDREW BERNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • HUMAYUN CHAUDHRY

    TRUSTEE (AS OF 03/2025)

    Total calculated
    $0
    Hours/week
    5

  • DOMENICK CHIECO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • PETER FERENTINOS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • ANGELA IANNACCI

    TRUSTEE (AS OF 03/2025)

    Total calculated
    $0
    Hours/week
    5

  • HENRY IERVOLINO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • SANTHOSH KESHAVAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • JOHN KEVILLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • THOMAS VAN LAAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • TED MOUDIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • PATRICK O'SHAUGHNESSY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • MONTE N REDMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • DEBORAH VERDERAME

    TRUSTEE (AS OF 03/2025)

    Total calculated
    $0
    Hours/week
    5

  • DEBORAH VOGEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • ELI WACHTEL

    TRUSTEE (THRU 08/2024)

    Total calculated
    $0
    Hours/week
    5

  • ROBERT A WILD ESQ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • CATHERINE FLICKINGER

    VP HR, GEN. COUNSEL & SECRETARY

    Total calculated
    $554,826
    From this org
    $492,893
    From related orgs
    $0
    Other
    $61,933
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $436,389
    Bonus
    $50,000
    Other
    $6,504
    Deferred
    $34,500
    Nontaxable benefits
    $27,433
    Filer's total
    $554,826

  • BARBARA J HOLAHAN

    VP FIN. AFFAIRS, CFO/TREASURER

    Total calculated
    $510,082
    From this org
    $448,834
    From related orgs
    $0
    Other
    $61,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $392,101
    Bonus
    $50,000
    Other
    $6,733
    Deferred
    $34,500
    Nontaxable benefits
    $26,748
    Filer's total
    $510,082

  • EILEEN VALERIO

    CONTROLLER & ASSISTANT TREASURER

    Total calculated
    $287,859
    From this org
    $237,230
    From related orgs
    $0
    Other
    $50,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,611
    Bonus
    $12,500
    Other
    $119
    Deferred
    $23,196
    Nontaxable benefits
    $27,433
    Filer's total
    $287,859

  • JERRY BALENTINE

    PROVOST & EXECUTIVE VICE PRESIDENT

    Total calculated
    $849,490
    From this org
    $771,043
    From related orgs
    $0
    Other
    $78,447
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $714,420
    Bonus
    $50,000
    Other
    $6,623
    Deferred
    $34,500
    Nontaxable benefits
    $43,947
    Filer's total
    $849,490

  • NICOLE WADSWORTH

    DEAN, COLLEGE OF OSTEOPATHIC MED.

    Total calculated
    $554,433
    From this org
    $486,336
    From related orgs
    $0
    Other
    $68,097
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $461,078
    Bonus
    $25,000
    Other
    $258
    Deferred
    $24,150
    Nontaxable benefits
    $43,947
    Filer's total
    $554,433

  • JOSEPH POSILLICO

    VP FOR ENROLL MGMT/STRATEGIC COMM.

    Total calculated
    $487,803
    From this org
    $424,186
    From related orgs
    $0
    Other
    $63,617
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $392,424
    Bonus
    $25,000
    Other
    $6,762
    Deferred
    $24,150
    Nontaxable benefits
    $39,467
    Filer's total
    $487,803

  • BABAK DASTGHEIB-BEHESHTI

    DEAN ENGINEERING SCHOOL

    Total calculated
    $450,095
    From this org
    $391,290
    From related orgs
    $0
    Other
    $58,805
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $371,171
    Bonus
    $20,000
    Other
    $119
    Deferred
    $34,500
    Nontaxable benefits
    $24,305
    Filer's total
    $450,095

  • DONALD BOOTH

    VP, CAPITAL PLANNING & FACILIITES

    Total calculated
    $375,321
    From this org
    $313,679
    From related orgs
    $0
    Other
    $61,642
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $306,917
    Bonus
    $0
    Other
    $6,762
    Deferred
    $22,175
    Nontaxable benefits
    $39,467
    Filer's total
    $375,321

  • SHANE SPEIGHTS

    SITE DEAN, COLLEGE OF OSTEOPATHIC MED.

    Total calculated
    $519,921
    From this org
    $444,202
    From related orgs
    $0
    Other
    $75,719
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $444,064
    Bonus
    $0
    Other
    $138
    Deferred
    $31,772
    Nontaxable benefits
    $43,947
    Filer's total
    $519,921

  • PATRICK MINSON

    VP DEV. & ALUM. RELATIONS & EXT AFF.

    Total calculated
    $407,765
    From this org
    $382,415
    From related orgs
    $0
    Other
    $25,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $375,863
    Bonus
    $0
    Other
    $6,552
    Deferred
    $24,150
    Nontaxable benefits
    $1,200
    Filer's total
    $407,765

  • PENNIE TURGEON

    VP OF IT & CIO

    Total calculated
    $464,478
    From this org
    $438,247
    From related orgs
    $0
    Other
    $26,231
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $380,285
    Bonus
    $50,000
    Other
    $7,962
    Deferred
    $24,150
    Nontaxable benefits
    $2,081
    Filer's total
    $464,478

  • ANTHONY GERDES

    PROFESSOR

    Total calculated
    $429,937
    From this org
    $367,184
    From related orgs
    $0
    Other
    $62,753
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $362,473
    Bonus
    $4,000
    Other
    $711
    Deferred
    $25,243
    Nontaxable benefits
    $37,510
    Filer's total
    $429,937

  • MARIA RITA PERBELLINI

    DEAN, SCHOOL OF ARCHITECTURE/DESIGN

    Total calculated
    $376,741
    From this org
    $349,151
    From related orgs
    $0
    Other
    $27,590
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $328,893
    Bonus
    $20,000
    Other
    $258
    Deferred
    $27,590
    Nontaxable benefits
    $0
    Filer's total
    $376,741

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

HOUSING BENEFITS
SCHEDULE J, PART I, LINE 1A NYIT IS A GLOBAL UNIVERSITY WITH CAMPUSES IN NEW YORK (MANHATTAN AND LONG ISLAND), ARKANSAS (JONESBORO) AND CANADA (VANCOUVER), AND, AS SUCH, THE PRESIDENT IS REQUIRED TO ENGAGE IN EXTENSIVE INTERNATIONAL TRAVEL. THE PRESIDENT TRAVELS WITH ABOVE STANDARD ACCOMMODATIONS (E.G., BUSINESS OR FIRST CLASS). THE UNIVERSITY ALSO MAKES A CAR AND DRIVER AVAILABLE TO THE PRESIDENT FOR TRAVEL BETWEEN CAMPUSES. THESE ACCOMMODATIONS ARE USED FOR BUSINESS PURPOSES ONLY AND ARE NOT TREATED AS TAXABLE COMPENSATION. NYIT DOES NOT MAINTAIN PRESIDENTIAL CAMPUS HOUSING. NYIT PROVIDES A HOUSING ALLOWANCE TO THE PRESIDENT TO MAINTAIN A RESIDENCE FOR PERSONAL AND UNIVERSITY FUNCTIONS. OTHER TAXABLE COMPENSATION RECEIVED BY PRESIDENT FOLEY IN CALENDAR YEAR 2024 INCLUDED A $120,000 HOUSING ALLOWANCE. THE INSTITUTE HAS A MEMBERSHIP AT A LOCAL UNIVERSITY CLUB IN THE NAME OF PRESIDENT, HANK FOLEY. THIS CLUB IS USED EXCLUSIVELY TO ENGAGE IN UNIVERSITY BUSINESS; ACCORDINGLY THE VALUE OF THE CLUB MEMBERSHIP IS NOT INCLUDED IN PRESIDENT FOLEY'S TAXABLE WAGES. SCHEDULE J, PART I, LINE 4B: PRESIDENT & CEO, DR. HANK FOLEY, PARTICIPATES IN THE INSTITUTE'S SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN. IN CALENDAR YEAR 2024, DR. FOLEY RECEIVED A $300,000 PAYOUT FROM HIS 457(F) PLAN; THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN B(III). OF THIS $300,000 PAID OUT, $240,000 WAS REPORTED AS DEFERRED COMPENSATION ON PREVIOUSLY FILED FORMS 990 AND IS THEREFORE REPORTED IN SCHEDULE J, PART II, COLUMN (F). $60,000 OF THE 457(F) PAYOUT WAS BOTH EARNED AND PAID OUT IN CALENDAR YEAR 2024. SCHEDULE J, PART I, LINE 7 AND PART II, COLUMN (B)(II) THE PRESIDENT'S REPORTABLE COMPENSATION INCLUDES BONUS AND INCENTIVE COMPENSATION EARNED BASED ON MEETING CERTAIN OBJECTIVE PERFORMANCE CRITERIA AND IN ACCORDANCE WITH THE PRESIDENT'S EMPLOYMENT AGREEMENT. THE DECISION TO AWARD THE PRESIDENT WITH A BONUS RESTS WITH THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE. OTHER OFFICERS AND KEY EMPLOYEES REPORTED ON SCHEDULE J, LIKEWISE, RECEIVED A BONUS IN CALENDAR YEAR 2024 AT THE DIRECTION OF THE PRESIDENT AND BOARD OF TRUSTEES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
10 April 2025
IRS schema version
2024v5.5
Source object
202631009349300033

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