Dowling College

“The debtor's plan of liquidation went effective 1/14/19. In accordance with the plan, approved by the bankruptcy court, the board was relieved of their duties. There is no board as of 1/14/19; only a plan administrator.”

“See note in form 990, part vi, section b, line 11b”

“On september 21, 2018, the debtor filed its plan of liquidation (the "plan") and disclosure statement with the court [dkt 604, 605]. On december 20, 2018 an order was entered [dkt 662] confirming the debtor's chapter 11 plan of liquidation. (the "confirmation order") on january 14, 2019, the debtor filed notice with the court, that pursuant to the confirmation order, it certified and gave notice that the plan became effective in accordance with its terms and the effective date occurred on january 14, 2019 [dkt 671]. Upon the effective date of the plan, the officers of the college and the college's board of trustees were relieved of their duties and a plan administrator was appointed. Mr. Rosenfeld, in his capacity as plan administrator was authorized to, among other duties, oversee the filing of tax related filings, audits and other corporate dissolution documents if required; and have authority to sign tax returns on behalf of the debtor and be responsible party for speaking with the taxing authorities.”

“Dowling college required all employees and board of trustees to complete annually a conflict of interest disclosure form which was designed to provide a mechanism to insure that the college was aware of any potential conflicts of interest as well.”

“The college's 990 and financial statements are made available to the public upon request. Governing documents and conflict of interest policies are not made available to the public.”

“Robert rosenfeld serves as the plan administrator and is compensated through his firm rsr consulting, llc.”

“On november 29, 2016 (the "petition date"), the entity filed for protection from its creditors under chapter 11, of the u.s. Bankruptcy code (case no. 16-75545 (reg)) (the "debtor") in the eastern district of new york. The debtor has been winding down its operations and has significantly reduced its staff and resources. As a result, many of the debtor's reporting and accounting functions have been significantly disrupted and delayed. Accordingly, the debtor has not received or fully analyzed all of the potential sources of the information required in support of the information provided herein. While debtor's management has made reasonable efforts to ensure that the return is accurate and complete, based upon information that was available to them at the time of preparation, subsequent information may result in material changes to the enclosed information. The information provided was intended to fulfill the debtor's obligation and we make no assertion as to the accuracy or completeness of such information. Moreover, because the return contains unaudited information, which is subject to further review and potential adjustment, there can be no assurance that this information is complete. The debtor reserves all rights to amend this return, as may be necessary or appropriate. Since the debtor is currently in a bankruptcy proceeding, all amounts reported on the return are subject to the ultimate realization of assets recovered through the liquidation process and liabilities authorized to be paid pursuant to the order of the court and sufficient funds recovered for the bankruptcy estate.”