New York Medical College
- Assets
- $318.7m
- Revenue
- $119.7m
- Investments
- $17.3m
- Employees
- 1,028
- Location
- Valhalla, NY
- Founding
- 08/1940
- Data as of
- 06/2020
- EIN
- 13-1099420
Organization Overview
New York Medical College is located in Valhalla, NY. The organization was established in 1940. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, New York Medical College employed 1,028 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Medical College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, New York Medical College generated $119.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $119.9m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, New York Medical College has awarded 117 individual grants totaling $7,593,674. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE PHYSICIANS, SCIENTISTS, PUBLIC HEALTH SPECIALISTS & OTHER HEALTHCARE PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROFESSIONAL EDUCATION: EDUCATE INDIVIDUALS FOR CAREERS IN MEDICAL, SCIENCE AND HEALTH PROFESSIONS.
AFFILIATION AND FACULTY PRACTICE: NYMC FACULTY MEMBERS PROVIDE SUPERVISION, TEACHING AND RELATED ADMINISTRATIVE SERVICES AT WESTCHESTER MEDICAL CENTER AND OTHER METROPOLITAN AREA HOSPITALS IN SUPPORT OF VARIOUS MEDICAL STUDENT RESIDENCY PROGRAMS.
AUXILIARY: CAMPUS SERVICES (HOUSING AND DINING) PROVIDED TO THE STUDENTS AND THE NYMC COMMUNITY TO LIVE AND FUNCTION ON CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry L Nadler Dean Of The School Of Medicine | Officer | 34.9 | $682,640 |
Edward C Halperin Chancellor And CEO | Officer | 34.8 | $641,100 |
Mitchell S Cairo Professor | 35 | $518,145 | |
Robert W Amler Dean Shsp | Officer | 34.9 | $410,242 |
Gerard M Villucci Administrator | 35 | $409,646 | |
Michael S Goligorsky Professor | 35 | $332,552 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Constellation Newenergy Inc Construction | 6/29/21 | $2,182,766 |
Pavarini North East Construction Company Construction | 6/29/21 | $1,409,703 |
Pride And Service Elevator Elevator | 6/29/21 | $1,069,338 |
Able Services Cleaning Service | 6/29/21 | $1,335,083 |
Elsevier Inc Online Library Subscription | 6/29/21 | $783,403 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,456,447 |
| Investment income | $2,906,022 |
| Tax Exempt Bond Proceeds | $2,971 |
| Royalties | $0 |
| Net Rental Income | $1,584,257 |
| Net Gain/Loss on Asset Sales | $623,867 |
| Net Income from Fundraising Events | -$28,825 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,697,970 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $6,328,951 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,630,826 |
| Compensation to disqualified persons | $61,046 |
| Other salaries and wages | $58,800,635 |
| Pension plan accruals and contributions | $3,414,775 |
| Other employee benefits | $8,838,144 |
| Payroll taxes | $3,931,553 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $278,812 |
| Fees for services: Accounting | $300,077 |
| Fees for services: Lobbying | $73,575 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $213,413 |
| Fees for services: Other | $3,197,575 |
| Advertising and promotion | $135,268 |
| Office expenses | $1,279,486 |
| Information technology | $1,335,439 |
| Royalties | $0 |
| Occupancy | $5,487,853 |
| Travel | $559,262 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,695 |
| Interest | $4,463,118 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,700,979 |
| Insurance | $539,374 |
| All other expenses | $0 |
| Total functional expenses | $119,901,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,630,290 |
| Savings and temporary cash investments | $9,569,056 |
| Pledges and grants receivable | $3,134,234 |
| Accounts receivable, net | $10,324,188 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,724,208 |
| Inventories for sale or use | $114,286 |
| Prepaid expenses and deferred charges | $910,964 |
| Investments—publicly traded securities | $74,745,390 |
| Investments—other securities | $17,279,552 |
| Investments—program-related | $0 |
| Intangible assets | $10,200,000 |
| Other assets | $5,605,159 |
| Total assets | $318,677,910 |
| Accounts payable and accrued expenses | $23,832,133 |
| Grants payable | $0 |
| Deferred revenue | $16,463,426 |
| Tax-exempt bond liabilities | $45,748,949 |
| Escrow or custodial account liability | $1,834,194 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $25,122,509 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,471,052 |
| Total liabilities | $141,472,263 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $177,205,647 |
Grants Awarded
Over the last fiscal year, New York Medical College has awarded $943,771 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
OREGON HEALTH AND SCIENCE UNIVERSITY PURPOSE: RESEARCH | $235,052 |
Ann Arbor, MI PURPOSE: RESEARCH | $124,145 |
UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER PURPOSE: RESEARCH | $110,228 |
Augusta, GA PURPOSE: RESEARCH | $93,819 |
WESTCHESTER COUNTY HEALTH CARE CORP PURPOSE: RESEARCH | $78,946 |
Pittsburgh, PA PURPOSE: RESEARCH | $51,540 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that New York Medical College has recieved totaling $2,250.
| Awarding Organization | Amount |
|---|---|
The Salon Family Foundation Inc Armonk, NY PURPOSE: EDUCATION | $2,000 |
Fordan Family Foundation Cedar Hill, TX PURPOSE: SUPPORT | $250 |
Endowment Analysis
| Beg. Balance | $68,789,798 |
| Earnings | $13,228,018 |
| Admin Expense | $60,000 |
| Net Contributions | $1,104,500 |
| Other Expense | $3,420,246 |
| Ending Balance | $79,642,070 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Albert Einstein College Of Medicine Bronx, NY | $1,023,925,401 | $371,509,260 |
Bentley University Waltham, MA | $681,081,992 | $316,624,866 |
Mcphs University Boston, MA | $1,998,877,330 | $374,201,406 |
Teachers College Columbia University New York, NY | $726,324,570 | $250,184,193 |
Feinberg Graduate School Of The Weizmann Institute Of Science New York, NY | $6,818,981 | $172,532,346 |
Philadelphia College Of Osteopathic Medicine Philadelphia, PA | $181,055,167 | $168,282,211 |
New York Medical College Valhalla, NY | $318,677,910 | $119,697,970 |
Lake Erie College Of Osteopathic Medicine Inc Erie, PA | $757,028,043 | $202,994,752 |
Touro University New York, NY | $83,518,573 | $93,950,601 |
New York Law School New York, NY | $345,948,911 | $82,190,230 |
Brooklyn Law School Brooklyn, NY | $395,638,685 | $73,619,300 |
Bank Street College Of Education New York, NY | $91,645,236 | $64,451,080 |