Civic Intelligence

St Joseph'S University New York

EIN 11-1733439 • 501(c)3 • Brooklyn, NY

Profile

St. Joseph's college was founded in 1916 in brooklyn, new york and exists today with its original campus in brooklyn and a branch campus in patchogue, new york. The college is an independent not-for-profit institution providing academic undergraduate and graduate level programs. The mission of st. Joseph's college is to provide strong academic and value-oriented education at the undergraduate and graduate levels, rooted in liberal arts tradition that supports provision for career preparation and enhancement. The college prepares each student for a life characterized by integrity, intellectual and spiritual values, social responsibility, and service - a life that is worthy of the college's motto, esse non videri: "to be, not to seem".

245 Clinton AvenueBrooklyn, NY 11205

www.sjcny.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

55th percentile

0.32x

Higher debt load relative to assets than 55% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

47th percentile

0.38x

Higher debt load relative to revenue than 47% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

30th percentile

-0.6%

Higher net margin than 30% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$683,608

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

38th percentile

3.1%

Faster asset growth than 38% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

4.6%

Faster revenue growth than 43% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$166,845,666

Up $5,026,058 (+3.1%) from 2023

Liabilities

Down

$52,971,611

Down $769,446 (-1.4%) from 2023

Net Assets

Up

$113,874,055

Up $5,795,504 (+5.4%) from 2023

Revenue

Up

$138,002,949

Up $6,037,222 (+4.6%) from 2023

Expenses

Down

$138,868,422

Down $1,839,890 (-1.3%) from 2023

Net Income

Up

-$865,473

Up $7,877,112 (+90%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2010: $93,229,915Liabilities 2010: $10,495,428Net Assets 2010: $82,734,4872010Assets 2011: $129,175,611Liabilities 2011: $40,461,741Net Assets 2011: $88,713,8702011Assets 2012: $115,645,749Liabilities 2012: $36,996,866Net Assets 2012: $78,648,8832012Assets 2013: $112,753,363Liabilities 2013: $38,229,715Net Assets 2013: $74,523,6482013Assets 2014: $112,684,355Liabilities 2014: $37,469,063Net Assets 2014: $75,215,2922014Assets 2015: $106,696,738Liabilities 2015: $38,025,730Net Assets 2015: $68,671,0082015Assets 2016: $102,862,976Liabilities 2016: $37,553,084Net Assets 2016: $65,309,8922016Assets 2017: $109,426,643Liabilities 2017: $36,969,528Net Assets 2017: $72,457,1152017Assets 2018: $118,346,697Liabilities 2018: $35,934,503Net Assets 2018: $82,412,1942018Assets 2019: $126,780,684Liabilities 2019: $35,392,835Net Assets 2019: $91,387,8492019Assets 2020: $130,875,975Liabilities 2020: $32,660,090Net Assets 2020: $98,215,8852020Assets 2021: $175,776,915Liabilities 2021: $55,482,916Net Assets 2021: $120,293,9992021Assets 2022: $166,325,358Liabilities 2022: $54,945,386Net Assets 2022: $111,379,9722022Assets 2023: $161,819,608Liabilities 2023: $53,741,057Net Assets 2023: $108,078,5512023Assets 2024: $166,845,666Liabilities 2024: $52,971,611Net Assets 2024: $113,874,0552024

Highlighted filing

2024

Assets$166,845,666
Liabilities$52,971,611
Net Assets$113,874,055

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0-$50MExpenses 2010: $83,345,8432010Expenses 2011: $92,999,1782011Expenses 2012: $103,742,7102012Revenue 2013: $102,854,901Expenses 2013: $108,730,266Net Income 2013: -$5,875,3652013Revenue 2014: $106,175,744Expenses 2014: $108,333,521Net Income 2014: -$2,157,7772014Revenue 2015: $103,467,125Expenses 2015: $108,498,522Net Income 2015: -$5,031,3972015Revenue 2016: $104,194,928Expenses 2016: $108,333,697Net Income 2016: -$4,138,7692016Revenue 2017: $118,384,988Expenses 2017: $112,825,783Net Income 2017: $5,559,2052017Revenue 2018: $121,277,107Expenses 2018: $116,380,848Net Income 2018: $4,896,2592018Revenue 2019: $132,953,633Expenses 2019: $122,971,361Net Income 2019: $9,982,2722019Revenue 2020: $137,656,869Expenses 2020: $131,993,801Net Income 2020: $5,663,0682020Revenue 2021: $139,407,040Expenses 2021: $133,150,701Net Income 2021: $6,256,3392021Revenue 2022: $145,093,494Expenses 2022: $142,097,654Net Income 2022: $2,995,8402022Revenue 2023: $131,965,727Expenses 2023: $140,708,312Net Income 2023: -$8,742,5852023Revenue 2024: $138,002,949Expenses 2024: $138,868,422Net Income 2024: -$865,4732024

Highlighted filing

2024

Revenue$138,002,949
Expenses$138,868,422
Net Income-$865,473

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$167$53.0$114$138$139$0.87
2023Detailed filing. Detailed filing data is available for this year.$162$53.7$108$132$141$8.74
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$166$54.9$111$145$142$3.00
2021Detailed filing. Detailed filing data is available for this year.$176$55.5$120$139$133$6.26
2020Detailed filing. Detailed filing data is available for this year.$131$32.7$98.2$138$132$5.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$127$35.4$91.4$133$123$9.98
2018Detailed filing. Detailed filing data is available for this year.$118$35.9$82.4$121$116$4.90
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$37.0$72.5$118$113$5.56
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$103$37.6$65.3$104$108$4.14
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$107$38.0$68.7$103$108$5.03
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$113$37.5$75.2$106$108$2.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$113$38.2$74.5$103$109$5.88
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$37.0$78.6$104
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$129$40.5$88.7$93.0
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$93.2$10.5$82.7$83.3
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$157,916,806
Mission and Program Overview

Mission

St. Joseph's college was founded in 1916 in brooklyn, new york and exists today with its original campus in brooklyn and a branch campus in patchogue, new york. The college is an independent not-for-profit institution providing academic undergraduate and graduate level programs. The mission of st. Joseph's college is to provide strong academic and value-oriented education at the undergraduate and graduate levels, rooted in liberal arts tradition that supports provision for career preparation and enhancement. The college prepares each student for a life characterized by integrity, intellectual and spiritual values, social responsibility, and service - a life that is worthy of the college's motto, esse non videri: "to be, not to seem".

The university provides an affordable liberal arts education to a diverse group of students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$80,610,809$83,230,267▲ $2,619,458
Investments in Publicly Traded Securities$65,524,035$65,009,972▼ $514,063
Savings and Temporary Cash Investments$2,945,604$4,258,920▲ $1,313,316
Accounts Receivable$1,874,916$2,001,672▲ $126,756
Prepaid Expenses and Deferred Charges$1,257,866$1,430,313▲ $172,447
Pledges and Grants Receivable$1,083,310$1,110,392▲ $27,082
Cash and Non-Interest-Bearing Accounts$13,073$975,020▲ $961,947
Other Notes and Loans Receivable, Net$187,016$151,840▼ $35,176
Total Assets$161,819,608$166,845,666▲ $5,026,058
Other Assets Total$8,322,979$8,677,270▲ $354,291
Liabilities
Tax Exempt Bond Liabilities$33,058,465$31,790,600▼ $1,267,865
Accounts Payable and Accrued Expenses$7,387,634$8,265,122▲ $877,488
Other Liabilities$8,332,854$7,951,440▼ $381,414
Deferred Revenue$4,962,104$4,964,449▲ $2,345
Total Liabilities$53,741,057$52,971,611▼ $769,446
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$76,502,189$76,784,432▲ $282,243
Net Assets With Donor Restrictions$31,576,362$37,089,623▲ $5,513,261
Total Net Assets Fund Balance$108,078,551$113,874,055▲ $5,795,504
Total Liabilities and Net Assets / Fund Balance$161,819,608$166,845,666▲ $5,026,058

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$70,760,248$64,580,735$135,340,983
Equipment$3,971,982$31,253,009$35,224,991
Land$8,498,037-$8,498,037
Other Assets Org$125,362--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$60,013,131$1,744,008▲ $9,475,150$6,452,913$63,464,101
2022$57,335,730$588,136▲ $7,303,282$3,995,893$60,013,131
2021$67,610,948$1,133,708▼ $10,204,124-$57,335,730
2020$48,040,768$3,217,555▲ $17,302,966-$67,610,948
2019$42,520,958$4,519,464▲ $1,784,098-$48,040,768
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald BoomgaardenPresident (non Voting Trustee)FT$539,966$143,642$683,608
John C RothChief Financial OfficerFT$315,307$39,298$354,605
Heather BarryProvostFT$239,896$61,267$301,163
Christine MurphyVP Enrollment Management - BkFT$248,057$19,442$267,499
Phillip DehneExecutive Dean - BkFT$179,746$66,599$246,345
Shantey HillVP for Student LifeFT$205,309$33,993$239,302
Rory-shaffer WalshVP Institutional AdvancementFT$218,761$18,659$237,420
Jessica DecaturVP of Marketing & CommunicationsFT$175,569$58,617$234,186
Michelle PapajohnChief Information OfficerFT$196,305$34,915$231,220
Eileen JahnExecutive Dean - LiFT$194,305$36,347$230,652
Katherine GranelliFacultyFT$183,988$25,375$209,363
Susan Straut-collardFacultyFT$178,891$26,757$205,648
Robert HerrAssociate VP for Enrollment Mgmt.FT$190,000$13,300$203,300
Gail LambertaFacultyFT$164,445$26,206$190,651
Michael HanophyFormer Dean/current FacultyFT$142,595$43,693$186,288
Romeo SanchezAssistant VP for AdmissionsFT$160,000$11,200$171,200
RAYMOND D'ANGELOFormer Dean/current FacultyFT$130,723$39,301$170,024
Wendy TurgeonFormer Dean/current FacultyFT$148,182$7,931$156,113
Robert RileyFormer Provost/current FacultyFT$111,951$25,616$137,567
Tom TravisFormer Provost/asst. to Pres.FT$101,556$25,199$126,755

Board Members and Trustees

NameTitle
Christopher R Carroll EsqChair
Dr Mary Ellen Freeley EddVice Chair
Brennin J KroogBoard Member
Dennis MccarthyBoard Member
Judith a StearnsBoard Member
LATOYA O'GEREBoard Member
Leonard Stekol CPABoard Member
Marcy BoyleBoard Member
Margaret Mohan MeeganBoard Member
Mary ButzBoard Member
Matthew Barbis Cfs CtsBoard Member
Michael HarneyBoard Member
Michael W Meyers EsqBoard Member
Neal Bermas PhdBoard Member
Raymond MoralesBoard Member
Sister Angela Gannon CsjBoard Member
Sister Helen Kearney CsjBoard Member
Sister Kathleen Mckinney CsjBoard Member
Susan SomervilleBoard Member
W Christian Drewes EsqBoard Member (thru 6/14/24)
Peter M MeyerSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Universal Protection Service LPSecurity ServicesPO BOX 828854, Philadelphia, PA 19182-8854$716,596
Universal Protection Service LLCSecurity ServicesPO BOX 828854, Philadelphia, PA 19182-8854$578,755
Grant Thornton LLPFinancial Audit33570 TREASURY CENTER, Chicago, IL 60694-3500$196,128
Bentel & Bentel ArchitectsplannersArchitectural22 BUCKRAM ROAD, Locust Valley, NY 11560$159,788
Nelson & Pope & Voorhis LLCEnvionmental Planning70 MAXESS ROAD, Melville, NY 11747$136,404
Revenue and Support

Revenue Composition

Contributions and Grants
$11,881,613
Program Service Revenue
$122,457,174
Investment Income
$3,181,268
Other Revenue
$482,894
All Other Contributions
$4,593,185
Change in Net Assets
$-865,473

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Closely Held Stock2$205,625Fair Market Value
Total Noncash Contributions2$205,625-

Audited Revenue Reconciliation

Revenue per Audited Statements
$91,218,947
Revenue Not Reported on Financial Statements
$46,784,002
Revenue Not Reported on Form 990
$6,660,977
Other Revenue Adjustments
$46,548,382
Total Revenue per Audited Statements
$97,879,924
Total Revenue per Form 990
$138,002,949
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$63,032,105
Grants and Similar Amounts Paid$46,548,382
Other Expenses$29,287,935
Total Fundraising Expense$1,094,140
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$46,548,382--$46,548,382
Other Salaries and Wages$36,418,147$7,559,581$465,633$44,443,361
Other Employee Benefits$6,901,407$1,780,406$71,111$8,752,924
Occupancy$3,821,845$1,946,086$31,114$5,799,045
Depreciation Depletion$2,848,938$1,068,351$39,569$3,956,858
Payroll Taxes$2,870,128$644,948$47,280$3,562,356
Current Officers, Directors, Trustees, and Key Employees$1,325,095$1,618,460$160,500$3,104,055
Fees for Services Other$1,444,155$1,471,666$54,520$2,970,341
Advertising$75,610$2,720,183$1,885$2,797,678
Information Technology$886,922$1,837,509$140$2,724,571
Pension Plan Contributions$1,867,402$481,508$41,884$2,390,794
Office Expenses$1,342,131$718,756$123,474$2,184,361
Interest$937,899$351,714$13,025$1,302,638
Insurance-$1,271,735-$1,271,735
Comp Disqual Persons$649,440$129,175-$778,615
All Other Expenses$607,239$140,338$1,103$748,680
Travel$513,118$49,809$56$562,983
Other Expenses$186,062$248,013$13$434,088
Fees for Service Investment Mgmnt Fees-$235,620-$235,620
Fees for Services Accounting-$204,313-$204,313
Conferences and Meetings$33,385$12,047-$45,432
Fees for Services Legal-$17,603-$17,603
Total Functional Expenses$111,591,951$26,182,331$1,094,140$138,868,422

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$138,868,422
Expenses per Audited Statements$92,084,420
Total Expenses per Audited Statements$92,084,420
Expenses Not Reported on Financial Statements$46,784,002
Other Expense Adjustments$46,548,382
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$127,786
Fundraising Gross Income$89,377
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$142,764$54,696$8,946$45,750
Gala$194,575$34,681$34,620$61
Total Events$337,339$89,377$127,786$-38,409
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$6,411,565
Financing Lease Liabilities$1,067,481
REFUNDABLE GOV'T GRANTS$406,483
Beneficial Interest in Trusts$65,911

Bond Issues

BondIssuerIssuedIssue PricePurpose
BDormitory Authority of the State of New York2020-06-18$18,948,105Refi series 2010 for construct athletic facility
ADormitory Authority of the State of New York2021-01-21$17,403,021Construct student ctr, pump station & sewer system

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$18,948,105-$2,485,000$378,962
A$17,403,021-$620,000$348,061

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Process used to review form 990 the form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of trustees for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Enforcement of conflict of interest policy each officer, director, trustee and key employee of the university is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the university. The university monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.

Form 990, Part VI, Section B, Line 15

Process for determining compensation the university undertakes a thorough process to ensure that the executive compensation it pays to its top management official and all of its officers and key employees is reasonable given the market in which the college operates. In relevant part, the board of directors has established a compensation committee of independent persons that have no personal interest in the proposed compensation agreement. The compensation committee compares data from other institutions to ensure that the university compensates its executives commensurate with the market.

Form 990, Part VI, Section C, Line 19

Availability of documents to the public the university makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The university's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.

Filing and Contact Details

Filer

Filer Name
ST JOSEPH'S UNIVERSITY NEW YORK
EIN
11-1733439
Phone
7189405300
Address
245 CLINTON AVENUE, BROOKLYN, NY 11205

Signing Officer

Name
John C Roth
Title
CFO
Phone
7189405616
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Boomgaarden
Formed
1916
Legal Domicile
Ny
Voting Board Members
20
Independent Board Members
20
Employees
1,578
Volunteers
191

Preparer

Firm
Grant Thornton Advisors LLC
Address
757 THIRD AVENUE 3RD FLOOR, NEW YORK, NY 10017-2013
Preparer
Scott Thompsett
Phone
2125990100
Supplemental Narrative

Additional Explanations

PART III, LINE 1, ORGANIZATION'S MISSION:

Founded in 1916 by the sisters of st. Joseph, the mission of st. Joseph's university, new york is to provide a strong academic and value-oriented education at the undergraduate and graduate levels, rooted in a liberal arts tradition that supports provision for career preparation and enhancement. While proud of its catholic tradition, st. Joseph's is independent and coeducational, offering an affordable private education that serves a diverse population of academically eligible students. The university prepares each student for a life characterized by integrity, intellectual and spiritual values, social responsibility and service; a life that is worthy of our motto: esse non videri - "to be, not to seem." st. Joseph's university holds closely the aforementioned five key values, which occupy the core of the institution's personality. The institution views intellectual rigor and spiritual depth as key components of a liberal arts education. Along with this, st. Joseph's places a high priority on personal integrity, and emphasizes putting its values into action by helping students develop a strong sense of social responsibility and inculcating within them a keen desire to serve others. A further articulation of these values is reflected in the five pillars of st. Joseph's university. To accomplish this, st. Joseph's university has established the following goals: - to offer curricula that foster the knowledge and intellectual skills associated with the liberally educated person - to encourage students to develop personal value systems and responsible self-direction - to foster committed participation in the local and global communities - to help students develop as whole persons by providing individual attention, interactive teaching and opportunities for active participation in academic and extracurricular programs - to prepare students for their careers by offering the necessary professional and pre-professional education - to provide for the needs of a diversified student population with varied educational and professional experiences - to foster an environment of openness to the exploration and understanding of diverse ideas, traditions and cultures - to support educational programs and services that will contribute to the vitality of the communities served by the brooklyn and long island campuses

PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS:

Educational institution of higher learning that provides academic undergraduate and graduate level programs. The university provides strong academic and value-oriented programs rooted in a liberal arts tradition that support the provision for career preparation and enhancement. The strong academic programs include more than fifty undergraduate majors, pre-professional and certificate programs, with graduate degrees in management, business, cyber security, health care management, human services, nursing, accounting and education, a student-faculty ratio of 15:1 and more than 500 dedicated faculty, who are available in a small-class environment.

PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS:

The dillon child study center offers toddler, preschool and kindergarten programs based on the child development approach to the education of young children. Located on st. Joseph's university, new york campus in the clinton hill section of brooklyn, dillon, founded in 1934, is historically one of the first university preschools on the east coast. Licensed by the new york city department of health and registered with the new york state department of education, dillon serves over one hundred children, with five classes for pre-kindergarten and kindergarten children and an inclusive class of both typically and atypically developing children. In a child-centered atmosphere, children learn through play and develop confidence, competence and dispositions for future learning. All teachers have obtained or are working toward early childhood certification and their master's degrees.

FORM 990, PART XI, LINE 9:

Change in fair market value of split interest agreements -4,675.

Financial Statement Notes

PART V, LINE 4:

Intended use of endowment fund st. Joseph's university, new york holds an endowment for the purpose of generating funds to support the university's educational mission. Endowment earnings are intended to be used to fund scholarships, facility upgrades, and educational programs. The university would prefer to leave the principal untouched. In fiscal year 2024, the university transferred $6,452,913 of funds from its quasi endowment to cover the operating shortfall. This transfer is reflected in schedule d, part v, line 1(f) in the current year column.

PART X, LINE 2:

Provision for income taxes the university adopted the provisions of asc 740, accounting for uncertainties in income taxes. Asc 740-10 clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This standard provides that the tax effects from an uncertaintax position can be recognized in the financial statements only if theposition is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The university is exempt from federal and new york income taxation by virtue of being an organization described in section 501(c)(3) of the irc and similar provisions of the new york state tax code. Nevertheless, the university may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. Management believes that there are no uncertain tax positions within its financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in fair market value of split interest agreements -4,675.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Scholarship expenses netted against tuition for financial statement purposes 46,548,382.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarship expenses netted against tuition for financial statement purposes 46,548,382.

Raw XML AppendixShowing 400 of 1,356 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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