Touro University

“Jay sexter and eva spinelli are husband and wife.”

“Controller, auditors, officers and the audit committee of the board of the organization review the form 990.”

“The annual board questionnaire, which requires disclosure of conflict of interest and other details, is circulated to all of the board members and is reviewed by in-house counsel. Key employees notify touro any time conflicts of interest arise. The college periodically circulates a full questionnaire for such individuals to complete.”

“The board and officers, who are free of any conflict, approve executive hiring decisions. In making compensation and employee benefit determinations, consideration is given to expert reports and compensation trends in the industry, qualifications and other merits of the candidates. All such decisions are documented. Compensation for senior management is reviewed when their contracts are renewed.”

“The college makes its form 990 available to the public. Certain governing policies are included in touro college website (www.touro.edu); however its conflict of interest policy and financial statements are not made public. The annual financial statements are filed on the electronic municipal access system (emma) where they are available to the public.”

“The college's primary purpose is to provide an independent institution of higher and professional education. It was established primarily to enrich the jewish heritage and to serve the larger american community. The college has an undergraduate curriculum offering bachelor and associates degrees, graduate programs offering masters' degrees, and professional schools including a law school, a school of health sciences, a school of pharmacy and a school of osteopathic medicine. The college had an average enrollment of approximately 15,000 during the fiscal year.”

“Academic support: touro college provides staff and operational support for academic programs of various schools within the larger touro system and each school pays touro college for a portion of that support and receives other services without charge. From time to time, touro college receives academic support from other schools in the touro system. During this reporting year, the boards of several touro system schools voted to forgive portions of the receivables that had arisen over the years in the context of academic support among those schools and those forgiveness events are reported as grants received ($24,500,000) and grants paid ($6,500,000) on the touro college return.”

“Assets reclass from law school foundation fund $22,207 asset reclass to yeshivas ohr hachaim (206,099) ============ total to form 990 part xi, line 9 (183,892)”