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Nonprofiteer
← NYMC LLC

Form 990 for tax year 2022

Filed by NYMC LLC.

Totals

Total revenue
$0
Total expenses
$25,844
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$60,082,177
Total liabilities, end of year
$60,570,924
Net assets or fund balances, end of year
-$488,747
Program services expenses (Part IX)
$0
Management and general expenses
$25,844
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $6,908 · management and general $6,908

  • 23 · Insurance

    total $18,936 · management and general $18,936

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,459 · end of year $1,458

  • 13 · Investments: program-related

    beginning of year $60,080,719 · end of year $60,080,719

  • 17 · Accounts payable and accrued expenses

    beginning of year $285,742 · end of year $242,342

  • 25 · Other liabilities

    beginning of year $60,259,339 · end of year $60,328,582

  • 27 · Net assets without donor restrictions

    beginning of year -$462,903 · end of year -$488,747

Mission and programs · 2022

Mission

NYMC, LLC WAS FORMED TO ASSIST TOURO UNIVERSITY ("THE UNIVERSITY") IN THE ACQUISTION OF NEW YORK MEDICAL COLLEGE AND LOVELACE BIOMEDICAL RESEARCH INSTITUTE. (SEE SCHEDULE O.)

Activities or mission (Part I)

TOURO UNIVERSITY ACQUISITION OF NEW YORK MEDICAL COLLEGE AND LOVELACE BIOMEDICAL RESEARCH INSTITUTE.

  • THE ACQUISITION OF THE NEW YORK MEDICAL COLLEGE, LOVELACE BIOMEDICAL RESEARCH INSTITUTE AND LOVELACE SCIENTIFIC RESOURCES FACILITATES AND ACCELERATES THE UNIVERSITY'S STRATEGIC GROWTH, IMPROVES THE QUALITY OF ITS EDUCATIONAL OFFERINGS, EXPANDS RESEARCH AND DEVELOPMENT ACTIVITIES, AND PROVIDES GREATER PROFESSIONAL OPPORTUNITIES FOR STUDENTS. (SEE SCHEDULE O.)

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alan Kadish

    PRESIDENT, CEO AND TRUSTEE

    Total calculated
    $1,313,006
    From this org
    $0
    From related orgs
    $1,044,121
    Other
    $268,885
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,044,121 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $95,250 related
    Nontaxable benefits
    $0 + $173,635 related
    Filer's total
    $0 + $1,313,006 related

  • Ben Chouake

    TREASURER AND MANAGER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • David Lichtenstein

    MANAGER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Martin Oliner

    MANAGER

    Total calculated
    $0
    Hours/week
    0.1 + 0.9 related

  • Zvi Ryzman

    CHAIRMAN AND MANAGER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Melvin Ness

    ASSISTANT TREASURER

    Total calculated
    $433,658
    From this org
    $0
    From related orgs
    $417,118
    Other
    $16,540
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $417,118 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $1,290 related
    Filer's total
    $0 + $433,658 related

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, and on a Form 990-PF Part VIII's — 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

  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
METHODS USED TO DETERMINE COMPENSATION THE FILING ORGANIZATION, NYMC LLC, DOES NOT COMPENSATE ANY OF ITS MANAGERS OR OFFICERS. CERTAIN OFFICERS OF NYMC LLC ARE COMPENSATED BY A RELATED TAX EXEMPT ORGANIZATION. THE RELATED TAX EXEMPT ORGANIZATION USES THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION OF ITS PRESIDENT & CEO: - COMPENSATION COMMITTEE - COMPENSATION SURVEY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4B
NONQUALIFIED DEFERRED COMPENSATION PLAN TOURO UNIVERSITY'S PRESIDENT PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN; AMOUNTS IN COLUMN (C) INCLUDE A DEFERRAL OF $59,500.

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TRUMADA HOLDING CO LLC

    INVESTMENTS · DE · assets $0

    Directly controlled by NYMC LLC

  • TRUMADA MANAGEMENT COMPANY LLC

    INVESTMENTS · DE · assets $0

    Directly controlled by TRUMADA HLDG

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TOURO SPEECH AND HEARING CLINIC INC

    C · INACTIVE · NY · controlled entity

  • TOURO FOUNDATION CORPORATION

    C · INACTIVE · NY · controlled entity

  • TOURO UNIVERSITY FOUNDATION

    C · INACTIVE · CA · controlled entity

  • TOURO COLLEGE FND FOR JEWISH STUDIES

    C · INACTIVE · NY · controlled entity

  • TOURO UNIVERSITY MEDICAL ASSOCIATES

    C · HEALTH CARE · CA · controlled entity

  • TOURO COLLEGE OF DENTAL MEDICINE FACULTY PRACTICE CORPORATION

    C · HEALTH CARE · NY · controlled entity

  • SPEECH LANGUAGE PATHOLOGY PC

    C · HEALTH CARE · NY · controlled entity

  • LOVELACE SCIENTIFIC RESOURCES

    C · CLINICAL TRIAL RESEARCH · NM · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202401359349306950

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