Touro University
- Assets
- $112.7m
- Revenue
- $69.6m
- Investments
- $0.0
- Employees
- 807
- Location
- New York, NY
- Founding
- 06/2005
- Data as of
- 06/2021
- EIN
- 20-0363127
Organization Overview
Touro University is located in New York, NY. The organization was established in 2005. 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, Touro University employed 807 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Touro University 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 06/2021, Touro University generated $69.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $67.4m during the year ending 06/2021. While expenses have increased by 4.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER EDUCATION. (SEE SCHEDULE O)
Describe the Organization's Program Activity:
ACADEMIC PROGRAMS: WITHIN THE TOURO SYSTEM, TOURO UNIVERSITY NEVADA, A NEVADA CORPORATION (TUN), ESTABLISHED AS A BRANCH CAMPUS OF TOURO UNIVERSITY (CALIFORNIA), INCLUDES A COLLEGE OF OSTEOPATHIC MEDICINE AND A COLLEGE OF HEALTH AND HUMAN SERVICES OFFERING VARIOUS PROGRAMS IN THE HEALTH PROFESSIONS AND EDUCATION. DURING THIS FISCAL YEAR TUN GRANTED THE FOLLOWING ACADEMIC DEGREES: UNDERGRADUATE (52); GRADUATE (194); DOCTORAL OR FIRST PROFESSIONAL (207). (SEE SCHEDULE O)TOURO UNIVERSITY HAS PROVIDED ACADEMIC SUPPORT AND ADMINISTRATIVE SUPPORT TO TOURO UNIVERSITY SINCE INCEPTION. FROM TIME TO TIME TOURO UNIVERSITY NEVADA PROVIDES SUPPORT FOR ACADEMIC PROGRAMS OF TOURO UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rochelle Berkley CEO And Sr Provost Western Div | Officer | 24 | $480,397 |
Wolfgang Gilliar Dean, College Of Osteopathic Med. | Officer | 35 | $472,530 |
Craig Seiden Vp, Admin. Western Div | Officer | 34.9 | $285,627 |
Andrew Priest Provost | Officer | 35 | $273,913 |
Derek S Meeks Assistant Professor | 35 | $267,989 | |
Paul Rennie Professor | 35 | $258,235 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Braintrust Marketing Communications Advertising | 6/29/21 | $131,500 |
Accurate Building Maintenance Llc Cleaning Services | 6/29/21 | $201,047 |
The Hanover Research Council Llc Professional Associations | 6/29/21 | $118,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $272,663 |
| Related organizations | $0 |
| Government grants | $1,931,801 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,771,606 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,976,070 |
| Total Program Service Revenue | $61,292,287 |
| Investment income | $922,679 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $353,636 |
| Net Gain/Loss on Asset Sales | $4,117 |
| Net Income from Fundraising Events | -$24,966 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,634,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000,000 |
| Grants and other assistance to domestic individuals. | $726,825 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,603,369 |
| Compensation of current officers, directors, key employees. | $691,162 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,149,095 |
| Pension plan accruals and contributions | $788,707 |
| Other employee benefits | $2,671,386 |
| Payroll taxes | $1,803,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,952 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $48,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $632,268 |
| Advertising and promotion | $354,620 |
| Office expenses | $894,941 |
| Information technology | $1,656,046 |
| Royalties | $0 |
| Occupancy | $3,041,225 |
| Travel | $20,290 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,498 |
| Interest | $60,556 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,864,207 |
| Insurance | $135,791 |
| All other expenses | $1,076,143 |
| Total functional expenses | $67,427,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,852,002 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $186,965 |
| Accounts receivable, net | $1,673,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,299,452 |
| Inventories for sale or use | $172,945 |
| Prepaid expenses and deferred charges | $636,584 |
| Net Land, buildings, and equipment | $49,106,191 |
| Investments—publicly traded securities | $6,321,557 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,419,617 |
| Total assets | $112,668,496 |
| Accounts payable and accrued expenses | $13,696,298 |
| Grants payable | $0 |
| Deferred revenue | $17,942,942 |
| Tax-exempt bond liabilities | $33,586,257 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,478,913 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $74,296 |
| Total liabilities | $77,778,706 |
| Net assets without donor restrictions | $26,746,553 |
| Net assets with donor restrictions | $8,143,237 |
| 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 | $112,668,496 |
Grants Awarded
Over the last fiscal year, Touro University has awarded $11,018,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: see part iv | $11,000,000 |
Henderson, NV PURPOSE: see part iv | $18,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Touro University has recieved totaling $120,000.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $100,000 |
Rosenbluth Family Charitable Foundation Phoenix, AZ PURPOSE: UNIVERSITY'S LUNCH WITH THE RABBI SERIES | $20,000 |
Endowment Analysis
| Beg. Balance | $2,945,000 |
| Earnings | $330,958 |
| Net Contributions | $3,000,000 |
| Other Expense | $123,588 |
| Ending Balance | $6,152,370 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Touro University New York, NY | $112,668,496 | $69,634,843 |
Albany College Of Pharmacy And Health Sciences Albany, NY | $159,389,370 | $62,205,490 |
Salus University Elkins Park, PA | $71,855,290 | $53,963,466 |
New England Law Boston Boston, MA | $111,835,752 | $46,208,385 |
Geisinger Commonwealth School Of Medicine Danville, PA | $148,792,015 | $48,699,077 |
American College King of Prussia, PA | $101,126,239 | $39,801,880 |