Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $13,340

• 1e · Government grants (contributions)

  $4,858,961

• 1f · All other contributions, gifts and grants

  $6,913,235

• 2a · Program service revenue: TUITION AND FEES

  total $312,019,286 · related or exempt $312,019,286

• 2b · Program service revenue: STUDENT INSUR. PREM.

  total $7,551,619 · related or exempt $7,551,619

• 2c · Program service revenue: MEDICAL OUTREACH CENT.

  total $4,285,224 · related or exempt $4,285,224

• 2d · Program service revenue: ROOM AND BOARD

  total $3,429,505 · related or exempt $3,429,505

• 2e · Program service revenue: ANCILLARY STUDENT SERVICES

  total $1,881,109 · related or exempt $1,881,109

• 2f · All other program service revenue

  total $998,811 · related or exempt $998,811

• 3 · Investment income

  total $5,329,013 · unrelated business -$2,166 · excluded $5,331,179

• 6a · Gross rents

  real property $40,050

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $40,050

• 6d · Net rental income or loss

  total $40,050 · excluded $40,050

• 7a · Gross sales of assets other than inventory

  securities $158,246,649 · other assets $597,500

• 7b · Less cost or other basis and sales expenses

  securities $160,740,144 · other assets $0

• 7c · Gain or loss

  securities -$2,493,495 · other assets $597,500

• 7d · Net gain or loss

  total -$1,895,995 · excluded -$1,895,995

• 8a · Fundraising events: gross income

  $38,825

• 8a · Fundraising events: contributions included on line 1c

  $13,340

• 8b · Fundraising events: direct expenses

  $31,458

• 8c · Net income from fundraising events

  total $7,367 · excluded $7,367

• 11a · Other revenue: DESEVERSKY CONF CENTER

  total $3,494,652 · unrelated business $3,494,652

• 11b · Other revenue: GAIN ON LEASE SETTLEMENT

  total $1,125,366 · excluded $1,125,366

• 11c · Other revenue: INS RECOV (HURRICANES)

  total $942,575 · excluded $942,575

• 11d · All other revenue

  total $1,220,652 · related or exempt $151,880 · excluded $1,068,772

• 11e · Other revenue, total

  $6,783,245

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $217,418 · program services $217,418

• 2 · Grants to domestic individuals

  total $72,003,842 · program services $72,003,842

• 5 · Compensation of officers, directors and key employees

  total $2,889,734 · program services $2,774,145 · management and general $115,589

• 7 · Other salaries and wages

  total $116,909,824 · program services $111,555,354 · management and general $4,653,011 · fundraising $701,459

• 8 · Pension plan contributions

  total $7,016,975 · program services $6,695,597 · management and general $279,276 · fundraising $42,102

• 9 · Other employee benefits

  total $20,877,959 · program services $19,921,714 · management and general $830,973 · fundraising $125,272

• 10 · Payroll taxes

  total $9,034,525 · program services $8,620,744 · management and general $359,574 · fundraising $54,207

• 11b · Fees: legal

  total $4,284,408 · management and general $4,284,408

• 11c · Fees: accounting

  total $283,589 · management and general $283,589

• 11d · Fees: lobbying

  total $90,200 · program services $90,200

• 11e · Fees: professional fundraising services

  total $333,814 · fundraising $333,814

• 11f · Fees: investment management

  total $962,610 · management and general $962,610

• 11g · Fees: other

  total $7,485,560 · program services $7,485,560

• 12 · Advertising and promotion

  total $2,598,206 · program services $2,004,470 · management and general $158,573 · fundraising $435,163

• 13 · Office expenses

  total $11,735,395 · program services $10,862,288 · management and general $844,845 · fundraising $28,262

• 16 · Occupancy

  total $33,549,290 · program services $32,207,318 · management and general $1,341,972

• 17 · Travel

  total $1,442,467 · program services $1,301,996 · management and general $54,250 · fundraising $86,221

• 19 · Conferences, conventions and meetings

  total $3,360,638 · program services $3,033,373 · management and general $126,390 · fundraising $200,875

• 20 · Interest

  total $727,962 · program services $700,349 · management and general $27,613

• 22 · Depreciation, depletion and amortization

  total $17,362,612 · program services $16,667,187 · management and general $695,425

• 23 · Insurance

  total $11,020,248 · program services $10,524,337 · management and general $440,810 · fundraising $55,101

• 24a · Other expenses: EQUIP. RENTAL & MAINT.

  total $6,538,644 · program services $6,277,092 · management and general $261,552

• 24b · Other expenses: HOSPITAL ROTATIONS

  total $3,916,703 · program services $3,759,643 · management and general $157,060

• 24c · Other expenses: RECRUITING EXPENSES

  total $1,801,825 · program services $1,801,825

• 24d · Other expenses: INTERNATIONAL PROGRAMS

  total $863,274 · program services $828,743 · management and general $34,531

• 24e · All other expenses

  total $5,127,528 · program services $4,205,852 · management and general $762,483 · fundraising $159,193

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $48,591,029 · end of year $60,087,105

• 3 · Pledges and grants receivable

  beginning of year $7,135,448 · end of year $4,742,766

• 7 · Other notes and loans receivable

  beginning of year $10,079,376 · end of year $9,122,053

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,679,812 · end of year $3,951,514

• 10a · Land, buildings and equipment: cost or other basis

  $391,514,043

• 10b · Land, buildings and equipment: accumulated depreciation

  $262,166,300

• 10c · Land, buildings and equipment, net

  beginning of year $129,856,345 · end of year $129,347,743

• 11 · Investments: publicly traded securities

  beginning of year $102,800,752 · end of year $106,954,003

• 12 · Investments: other securities

  beginning of year $23,064,854 · end of year $22,107,173

• 15 · Other assets

  beginning of year $96,551,013 · end of year $104,490,987

• 17 · Accounts payable and accrued expenses

  beginning of year $32,159,761 · end of year $26,063,187

• 19 · Deferred revenue

  beginning of year $26,387,219 · end of year $29,785,695

• 23 · Secured mortgages and notes payable

  beginning of year $20,309,764 · end of year $18,078,425

• 25 · Other liabilities

  beginning of year $125,767,924 · end of year $132,078,926

• 27 · Net assets without donor restrictions

  beginning of year $205,044,410 · end of year $219,857,493

• 28 · Net assets with donor restrictions

  beginning of year $13,089,551 · end of year $14,939,618

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 2022 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, LINES 4A-B: SUZANNE MUSHO RECEIVED A SEVERANCE PAYMENT IN CALENDAR YEAR 2022 OF $134,375 THAT IS INCLUDED IN HER WAGES IN SCHEDULE J, PART II, COLUMN B(III). PRESIDENT & CEO, DR. HANK FOLEY, PARTICIPATES IN THE INSTITUTE'S SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN; IN CALENDAR YEAR 2022, THE INSTITUTE ACCRUED $60,000 TO BE CONTRIBUTED INTO DR. FOLEY'S PLAN. THIS AMOUNT HAS BEEN REPORTED IN SCHEDULE J, PART II, COLUMN (C). 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 2022 AT THE DIRECTION OF THE PRESIDENT AND BOARD OF TRUSTEES. IN CALENDAR YEAR 2022, A LONG-TERM INCENTIVE BONUS OF $250,000 PROVIDED FOR IN DR. FOLEY'S EMPLOYMENT CONTRACT WAS PAID OUT.