Yeshiva University

“In accordance with article i-3 of the yeshiva university by-laws of the board of the board of trustees, the respective chairs of the boards of the rabbi isaac elchanan theological seminary ("riets"), the benjamin n. Cardozo school of law ("cardozo") and the albert einstein college of medicine ("einstein") serve as ex officio voting members of the yeshiva university board of trustees. Riets is a separately incorporated section 501(c)(3) tax-exempt organization. Cardozo and einstein are constituent schools that operate as part of yeshiva university. Such individuals remain on the yeshiva university board of trustees as long as they remain as chair of his or her respective board.”

“Yeshiva university's form 990 was reviewed and signed by an independent accounting firm based on a draft return prepared by the university's finance department and director of tax. The draft return was reviewed by the university's chief financial officer, the university's office of general counsel and the audit committee of the board of trustees. The final version of the form 990 was made available to the board of trustees via a secure web site prior to filing with the internal revenue service. The form 990, as filed, is made available to the public in accordance with internal revenue service rules and regulations.”

“The university's conflict of interest policy - which was approved by the board of trustees - applies to all members of the university's board of trustees, all members of the boards of overseers of the university's constituent schools, all persons who serve on a university board committee or a committee of a constituent school's board, and to officers and select employees of the university, as designated by the general counsel (collectively, the "covered persons"). The policy provides that covered persons are to act at all times in a manner consistent with their responsibilities to the university and avoid circumstances in which their financial or other ties to outside entities could present an actual, potential or apparent conflict of interest or impair the university's reputation. Further, all covered persons are not to engage in business with the university. In the case of a rare exception, a conflict waiver committee has been established to review the facts and, if it is in the university's best interests, approve such exceptions. Conflict waiver requests considered by the committee, whether or not approved, are reported to the board of trustees. Questions as to whether a transaction constitutes an interested transaction with respect to covered persons are resolved by the university's conflicts waiver committee and the president in consultation with the general counsel. Covered persons are required to complete, sign and submit to the general counsel an annual disclosure statement; to promptly notify the general counsel of any change in the information previously reported on such person's disclosure statement; and to furnish supplemental information and/or confirm the continued accuracy of the current disclosure statement, if requested by the general counsel. The board's governance committee, in consultation with the general counsel, has the authority to address non-compliance with the disclosure requirements or any other provision of the conflict of interest policy; and may recommend the removal of such non-complying covered person or other appropriate sanction. In addition, a covered person who believes a current, pending or proposed transaction would constitute an "interested transaction" or otherwise constitute an actual, potential or apparent conflict of interest, is required to promptly disclose to the general counsel and to the chair of each board and committee of which the covered person is a member, the existence of the conflict (or appearance of conflict) and other material information that the covered person may have regarding the transaction. New covered persons are provided with a copy of the conflict of interest policy and disclosure statement. The details of the policy and its requirements are reviewed with them. The general counsel maintains a database of interests of covered persons and a system for monitoring current, pending and proposed transactions for potential interested transactions based on the disclosures made in each covered person's annual disclosure statement and any periodic updates submitted pursuant to the policy. In addition to the conflict of interest policy above for covered persons, university employees are also subject to additional conflict of interest reporting requirements as set forth in the university employee handbook.”

“The compensation of all employees earning in excess of a specified threshold salary level, as well as all of yeshiva university's officers and key employees, is reviewed annually by the university's compensation committee of the board of trustees. The independent members of the committee conduct a detailed review and approval of such compensation utilizing comparability data from third party salary surveys, form 990 salary disclosures from other organizations, and/or compensation studies prepared by an independent third party consulting firm. Contemporaneous documentation of the committee's deliberations and decisions are made part of the committee's written minutes. In accordance with irs rules and regulations, the university has also received opinions from independent third party compensation consultants that the compensation and benefits of its officers and key employees are reasonable.”

“Yeshiva university does not currently make its governing documents or conflict of interest policy available to the public. It's audited financial statements are available to the public on the university's website at www.yu.edu. The university makes it's form 990 and 990-t available to the public in accordance with internal revenue service rules and regulations.”

“Name of officer, director, etc: david s gottesman name of related person: ruth l gottesman relationship: family relationship name of officer, director, etc: zygmunt wilf name of related person: mark wilf relationship: family and business relationship name of officer, director, etc: michael jesselson name of related person: jay schottenstein relationship: business relationship name of officer, director, etc: david magerman name of related person: mark silber relationship: business relationship”

“The average hours per week listed for the officers, key employees and highest paid employees represents yeshiva university's official workweek. However, in practice, such individuals work significantly more hours per week and are expected to be available for university business”

“During fiscal year 2015, the university transferred to montefiore medical center substantially all of the assets and significant liabilities of the university's substance abuse treatment program, resulting in a financial statement loss of approximately $15.2m. The financial statement loss did not take into account the transfer and assumption of liabilities, including a loan payable to oasas of $17,181,000. Also, during fiscal year 2015, the university recognized a loss of approximately $430k from the sale of certain real estate that occurred in fiscal year 2014. In fiscal year 2014, the university recognized a financial statement gain of approximately $36m. For financial statement purposes, no gross proceeds were reported for these transfers and sales.”

“In addition to the board members who serve without compensation, the university utilizes many volunteers in the conduct of its activities. However, it does not track the number of these additional volunteers.”

“At yeshiva university, our mission, torah umadda, is to bring wisdom to life through all that we teach, by all that we do and for all those we serve. Our students learn and go forth, as both educated and ethical people, to share their own special talents and wisdom with society. Our faculty's research, academic work and scholarly writings help bring wisdom to many of the most pressing social, political, medical, legal and human rights issues facing the world today. Our university serves as a platform to bring yeshiva's collective wisdom to the world through our community outreach, publications, seminars and broad range of academic programs. For undergraduate students: we bring wisdom to life by combining the finest contemporary academic education with the timeless teachings of torah. It is yeshiva's unique dual curriculum, which teaches knowledge enlightened by values that helps our students gain the wisdom to make their lives both a secular and spiritual success. For graduate students: yeshiva brings wisdom to life by not only teaching the knowledge and skills to be highly accomplished scholars and professionals, but by teaching the ethical and moral values that will make them truly admirable people. It is our dual emphasis on professional excellence and personal ethics that gives our graduate students the wisdom to succeed in both their professions and their lives. For faculty: yeshiva helps our professors bring their own wisdom to life by providing the encouragement, resources and intellectual freedom to pursue their own academic ideals. And they, in turn, share their wisdom with our students, our society and the world at large. For alumni and supporters: to bring wisdom to life is yeshiva's service to humanity and a worthy mission shared in spirit and practice by all associated with the university. For the jewish community: in america, israel and around the world, our mission to bring wisdom to life will foster greater understanding and appreciation of the heritage, traditions and values we all hold so dear. For society and the world: yeshiva university serves as a wellspring of wisdom. At yeshiva university, teaching the knowledge and values that bring wisdom to life is not only our mission, it is our proud tradition.”

“Founded in the late 19th century, yeshiva university (yu) is the country's oldest and most comprehensive institution combining jewish scholarship with academic excellence and achievement in the liberal arts and sciences, medicine, law, business, social work, psychology, jewish studies, education and research. Yu reflects a centuries-old commitment to the advancement of human knowledge and ethics. Yu brings together the heritage of western civilization and the ancient traditions of jewish law and life. Since its inception, yu has been dedicated to melding the ancient traditions of jewish law and life with the heritage of western civilization, and each year we celebrate as future leaders make yu their home. More than 6,800 undergraduate and graduate students study at yu's four new york city campuses: the wilf campus; israel henry beren campus; brookdale center; the jack and pearl resnick campus; and in israel. Yu currently enrolls approximately 2,900 undergraduates at yeshiva college, stern college for women, the sy syms school of business, and in the s. Daniel abraham program in israel. These undergraduate schools combine rigorous academics, unparalled jewish studies and a nurturing jewish environment. Students choose from varied courses in the liberal arts, sciences and business, together with comprehensive jewish studies, including the yeshiva honors program that is part of the mazer yeshiva program. The jay and jeanie schottenstein honors program at yeshiva college, the s. Daniel abraham honors program at stern college, and the business honors and entrepreneurial leadership program at the sy syms school of business stress the intellectual development and cultural enrichment of outstanding students. Many opportunities exist for internships and research. Joint and combined programs offer advanced degrees in engineering, occupational therapy, jewish education, jewish studies, optometry, physical therapy, podiatry, nursing, physician assistant studies, and teaching math and science. About 95 percent of full-time undergraduate faculty hold doctorates or the highest degree within their fields. Small classes encourage intellectual intimacy and creativity. Distinguished scholars, authors, artists, public officials and business leaders interact with students in a variety of venues. All yu undergraduates pursue a dual program of torah studies and college academic studies. Classes at all levels are offered in talmud, bible, hebrew, jewish history, jewish philosophy, ethics and halacha. Formal classroom and beit medrash studies are augmented with special programs, optional day and night study programs and mentors, along with counseling and guidance programsfocused on growth and development. The undergraduate men select from these distinct jewish studies options; yeshiva program/mazer school of talmudic studies, the isaac breuer college of hebraic studies, the irving stone bet medrash program and the james striar school of general jewish studies. The undergraduate women learn at the rebecca ivry department of jewish studies. For many students, the s. Daniel abraham israel program is an unforgettable and life changing undergraduate experience. Each year, nearly 700 incoming yu students study at one of 41 israeli yeshivot and seminaries enabling them to incorporate their studies in israel into their college years. Yu israel representatives visit schools to offer academic guidance and career planning advice and students have the opportunity to meet yu roshei yeshiva, administrators and faculty. Yu is also affiliated with one of the nation's top medical schools and is home to one of the finest law schools established in the past 30 years, as well as highly regarded graduate schools of social work, psychology, jewish education and administration, and jewish studies. Constant innovations create interdisciplinary areas and provide study opportunities in emerging fields, such as health psychology, nuclear medicine, and biomedical ethics. The une”

“Committed to public service, the school offers more than 20 initiatives under the center for rights and justice. Students hone legal skills in extensive clinical programs in criminal law, tax law, family law, mediation, immigration, human rights and genocide, holocaust restitution claims and securities arbitration. The school's faculty members are known for being widely published legal scholars, accomplished lawyers, and accessible teachers. The cardozo community is open and personal. Every day students and faculty recognize the critical role attorneys play in protecting the rights of all people around the world. The azrieli graduate school of jewish education and administration is the premier international center for aspiring jewish educators, educational leaders and administrators offering internationally recognized faculty, innovative coursework, collaborative research, intensive field experience and professional mentoring. The school offers the master of science degree in jewish education and offers a fully online program. Through its fanya gottesfeld heller division of doctoral studies, azrieli also offers the executive doctorate of jewish educational innovation and leadership. Azrieli alumni serve at the helm of schools, educational agencies, universities and communal institutions all over the world. The bernard revel graduate school of jewish studies, named after the first president of yu, educates teachers, researchers and scholars in jewish studies as well as rabbis, communal professionals and anyone willing to enrich his or her knowledge of judaism. It offers programs leading to the ma and phd degrees with concentrations in bible, talmudic studies, ancient jewish history, medieval jewish history, modern jewish history, and jewish philosophy and mysticism. It has a world class faculty of experts in these fields and a student body whose ability to deal with classical jewish texts is unparalleled. The ferkauf graduate school of psychology trains highly qualified professional psychologists and researchers in the fields of clinical psychology, school-clinical child psychology, clinical health psychology and mental health counseling. Collaborations with schools, clinics, mental health institutions and medical centers allows for a myriad of opportunities for field placements, externships and internships. A joint program with einstein offers a masters of public health option from the institute of public health sciences and grants an ma in mental health counseling, a psyd in clinical and school-clinical child psychology and a phd in clinical health psychology. Ferkauf's programs include the rose f. Kennedy center for research in mental retardation and developmental disabilities, which provides interdisciplinary training, the leonard and murial marcus family project for the study of the disturbed adolescent, which supports fellowships and research, the max and celia parnes family psychological and psycho-educational services clinic, which provides a wide range of assessment and therapeutic services for neighboring communities and the beker family project which trains school psychologists to work within hebrew day schools and other private schools to develop state of the art school psychological and psychoeducational services for children, teachers and families. The wurzweiler school of social work grants the msw degree, the phd in social welfare and certificates in jewish communal service, child welfare practice, social work practice with the military, jewish philanthropy and gerontology. It offers concentrations in clinical practice with individuals and families, social group work, and community practice. Wurzweiler graduates comprise a network of more than 7,000 local, national and international service providers, leaders and educators. Fieldwork is an integral part of the wurzweiler experience. Affiliated agencies are selected for their expertise, diversity, quality of service to the community and opportunities for learning”

“The museum's collection of more than 10,000 artifacts, exhibitions, installations and programs provide a window into jewish culture around the world and throughout history. School groups from across the new york metropolitan area visit the museum to tour the exhibitions and participate in workshops and educational programs. The museum serves as a resource for educators nationwide. As a resource for scholarly research, the museum's exhibitions and programs provide unique opportunities to examine, compare and research objects, ideas and techniques. The museum partners with yu faculty to provide a wide range of programs open to the public. As a teaching museum, it is committed to providing creative learning opportunities. In order to foster intellectual exchange both within yu, the broader academic community and with the general community, yu created the following centers/institutes: the center for the jewish future; the rabbi arthur schneier center for international affairs; the center for israel studies; the center for jewish law and contemporary civilization; the zahava and moshael strauss center for torah and western thought and the institute for university-school partnership. The mission of the center for the jewish future (cjf) is to shape, enrich and inspire the contemporary jewish community by convening the resources of yu. Cjf infuses the student body with a spirit of leadership and responsibility to klal yisrael (people of israel) and society; builds, cultivates and supports communities and their lay leaders and rabbinic leadership; and creates a global movement that promotes the values of yu, including torah umadda and religious zionism. Inspiring new leaders - this center prepares college and graduate students to become jewish leaders. In particular, service learning programs at home and abroad over winter and summer breaks encourage students to explore issues of aiding the jewish community and tikkun olam (healing the world). Several initiatives identify potential leaders, encouraging them to consider jewish communal work and offering them an unmatched program of professional training in cooperation with the various yu graduate schools. Promoting the values of yu - the center has developed a wide variety of initiatives to further the unique values of yu. A web site devoted to torah learning, yutorah.org and torah-to-go series, makes the lectures of yu's roshei yeshiva (professors of talmud) and other torah personalities available for downloading. A sunday morning torah learning program brings hundreds of men and women for shiurim (lectures) on yu campuses and in various regions of north america. Through research and dialogue, cjf looks for practical solutions to such contemporary issues as medical ethics. The cjf also strengthens the jewish educational experience of students in high schools throughout north america through informal education programs that focus on leadership skills, jewish values and torah study. The center for israel studies nurtures scholarship and the teaching of israel from biblical times to the present, with particular focus upon the modern state. The center unites yu's academic and professional strengths and resources as it seeks to create an international forum on israel. The center supports curriculum development, research, conferences, publications, museum exhibitions and public programs. The center for jewish law and contemporary civilization enriches jewish studies, the legal academy and contemporary civilization by creating and sustaining a diverse and collaborative intellectual community that re-examines and reconsiders classical texts with an ever growing set of new conceptual tools. The center sponsors a wide range of academic activities, including innovative curriculum in jewish law and legal theory, workshops, colloquia and conferences, as well as fellowship programs that train and support students and emerging scholars. The zahava and moshael strauss center for torah and western tho”

“Change in fmv of split interest agreements $ 256,872”

“On september 9, 2015, yeshiva university entered into a joint collaboration agreement regarding the albert einstein college of medicine, the university's medical school, with montefiore medicine academic health system, inc., an affiliate of montefiore medical center, which has long been einstein's principal teaching hospital. Pursuant to the joint collaboration agreement, the university transferred operational and financial responsibility for einstein to a newly-created not-for-profit corporation, now named the albert einstein college of medicine, inc. (new einstein), which is controlled by montefiore medicine. In connection with the transaction, substantially all of the university's assets, employees, and liabilities associated with einstein, as well as those pertaining to the albert einstein college of medicine staff housing co.,inc. Were transferred from the university to, and assumed by, new einstein. As detailed below, included in the assets transferred were einstein-related land and buildings in the bronx, as well as einstein-related receivables, investments, endowments and research grants and contracts. New einstein is controlled by an affiliate of montefiore and is now responsible for the medical school's current and future operations, including funding operating deficits. Over the course of the several years prior to the transaction, einstein's operating deficits comprised a significant portion of the university's annual operating deficits. In accordance with the joint collaboration agreement, those portions of the university's investment and endowment accounts that were attributable to (i.e., donated for the benefit of) einstein are in the process of being transferred from the university to new einstein. For a transition period, estimated to be at least three years following the closing, until new einstein receives full accreditation as a freestanding degree-granting institution, the university will: (i) maintain academic oversight for new einstein, including granting degrees until new einstein is granted the necessary accreditations and authority to grant degrees itself; and (ii) provide certain administrative services to or on behalf of new einstein. As part of the university's continuing involvement during the transition period until new einstein receives full accreditation, certain employees, including a number of faculty members and academic officers, will remain employed by the university. Additionally, during this transition period, medical school students will continue to enroll at the university and financial aid will be administered by the university in accordance with applicable federal and state law and accreditation requirements. New einstein will reimburse the university for the costs of the university's ongoing activities benefitting medical students and the medical school during the transition period. The university received consideration for the transaction in a number of forms including utilizing a portion of the cash proceeds to reduce its long-term debt, by redeeming or defeasing approximately $136m of outstanding dasny bonds. In addition, the transfer of the housing company to new einstein relieved the university of responsibility for approximately $43m of mortgage debt (both the first and subordinated mortgage notes and the associated mortgages) comprising the entire outstanding long-term debt encumbering the housing company's land and buildings. The university will receive additional consideration, in the form of 21 annual cash payments from new einstein, commencing on september 9, 2017, and on each september 9th thereafter through 2037. Such payments aggregate $270m (20 payments of $12.5m each, followed by a final payment of $20m), with an approximate present value (discounted at 5%) of $159m (new einstein has the right to prepay). New einstein's payment obligation is set forth in a promissory note from new einstein to the university. Montefiore has guaranteed new einstein's obligation to make”