New York Medical College
- Assets
- $333.1m
- Revenue
- $123.6m
- Investments
- $18.8m
- Employees
- 1,018
- Location
- Valhalla, NY
- Founding
- 08/1940
- Data as of
- 06/2022
- 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 06/2022, New York Medical College employed 1,018 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 06/2022, New York Medical College generated $123.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $114.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, New York Medical College has awarded 108 individual grants totaling $6,756,206. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE PHYSICIANS, SCIENTISTS, PUBLIC HEALTH SPECIALISTS & OTHER HEALTHCARE PROFESSIONALS.
Describe the Organization's Program Activity:
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 |
|---|---|---|---|
Alan Kadish President, CEO And Trustee | OfficerTrustee | 11.7 | $0 |
Rabbi Menachem Genack Trustee And Professor | Trustee | 0.1 | $0 |
Robert Alter Trustee | Trustee | 0.8 | $0 |
Gary Barnett Trustee | Trustee | 0.1 | $0 |
Howard Baruch Trustee | Trustee | 0.3 | $0 |
Ben Chouake Trustee | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Constellation Newenergy Inc Energy Management Services | 6/29/22 | $6,684,077 |
Able Services Cleaning Service | 6/29/22 | $1,863,400 |
Elsevier Inc Online Library Subscription | 6/29/22 | $1,427,386 |
Pavarini North East Construction Company Construction | 6/29/22 | $926,392 |
M E Engineering Pc Professional Engineering Services | 6/29/22 | $790,469 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $478,490 |
| Related organizations | $0 |
| Government grants | $1,264,269 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,886,502 |
| Noncash contributions included in lines 1a–1f | $386,844 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,629,261 |
| Total Program Service Revenue | $106,690,988 |
| Investment income | $2,606,935 |
| Tax Exempt Bond Proceeds | $42,075 |
| Royalties | $0 |
| Net Rental Income | $2,915,730 |
| Net Gain/Loss on Asset Sales | $3,990,150 |
| Net Income from Fundraising Events | -$110,258 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $123,647,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $437,232 |
| Grants and other assistance to domestic individuals. | $7,594,411 |
| Grants and other assistance to Foreign Orgs/Individuals | $25,899 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,957,242 |
| Compensation of current officers, directors, key employees. | $1,205,643 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $55,700,263 |
| Pension plan accruals and contributions | $2,715,131 |
| Other employee benefits | $5,465,767 |
| Payroll taxes | $3,723,619 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $739,913 |
| Fees for services: Accounting | $307,486 |
| Fees for services: Lobbying | $78,453 |
| Fees for services: Fundraising | $176,293 |
| Fees for services: Investment Management | $223,285 |
| Fees for services: Other | $3,037,717 |
| Advertising and promotion | $114,878 |
| Office expenses | $1,226,946 |
| Information technology | $1,552,162 |
| Royalties | $0 |
| Occupancy | $8,851,312 |
| Travel | $297,811 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,956 |
| Interest | $301,591 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,488,758 |
| Insurance | $991,067 |
| All other expenses | $163,913 |
| Total functional expenses | $113,997,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,266,445 |
| Savings and temporary cash investments | $19,996,491 |
| Pledges and grants receivable | $11,686,522 |
| Accounts receivable, net | $4,265,474 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,800,991 |
| Inventories for sale or use | $114,286 |
| Prepaid expenses and deferred charges | $1,248,742 |
| Net Land, buildings, and equipment | $180,468,517 |
| Investments—publicly traded securities | $71,875,239 |
| Investments—other securities | $18,841,384 |
| Investments—program-related | $0 |
| Intangible assets | $10,200,000 |
| Other assets | $5,341,456 |
| Total assets | $333,105,547 |
| Accounts payable and accrued expenses | $23,810,244 |
| Grants payable | $0 |
| Deferred revenue | $14,374,878 |
| Tax-exempt bond liabilities | $65,905,497 |
| Escrow or custodial account liability | $2,502,741 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $14,025,789 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,945,761 |
| Total liabilities | $147,564,910 |
| Net assets without donor restrictions | $119,856,781 |
| Net assets with donor restrictions | $65,683,856 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $333,105,547 |
Grants Awarded
Over the last fiscal year, New York Medical College has awarded $410,162 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF PITTSBURGH PURPOSE: RESEARCH | $107,026 |
OREGON HEALTH AND SCIENCE UNIVERSITY PURPOSE: RESEARCH | $93,877 |
UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER PURPOSE: RESEARCH | $53,069 |
THE RESEARCH FOUNDATION FOR SUNY STONYBROOK PURPOSE: RESEARCH | $48,852 |
MEDICAL COLLEGE OF WISCONSIN PURPOSE: RESEARCH | $34,756 |
TRUSTEES OF THE UNIVERSITY OF PA PURPOSE: RESEARCH | $22,907 |