Civic Intelligence

Touro College

EIN 13-2676570 • 501(c)3 • New York, NY

Profile

The university's primary purpose is to provide an independent institution of higher and professional education. (see schedule o)

Refreshing map…

202 West 43rd StreetNew York, NY 10036

www.touro.edu

Siviq Scores

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

Liabilities / Assets

78th percentile

0.69x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

1.56x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

23rd percentile

-2.8%

Higher net margin than 23% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

68th percentile

$1,335,433

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

68th percentile

9.8%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

33rd percentile

4.2%

Faster revenue growth than 33% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$867,124,817

Up $77,406,567 (+9.8%) from 2023

Liabilities

Up

$595,373,127

Up $77,322,442 (+15%) from 2023

Net Assets

Up

$271,751,690

Up $84,125 (+0.0%) from 2023

Revenue

Up

$382,656,910

Up $15,391,250 (+4.2%) from 2023

Expenses

Up

$393,548,522

Up $28,650,242 (+7.9%) from 2023

Net Income

Down

-$10,891,612

Down $13,258,992 (-560%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0B$500M$0Assets 2010: $302,817,029Liabilities 2010: $172,972,474Net Assets 2010: $129,844,5552010Assets 2011: $300,664,410Liabilities 2011: $175,755,766Net Assets 2011: $124,908,6442011Assets 2012: $294,401,839Liabilities 2012: $182,119,723Net Assets 2012: $112,282,1162012Assets 2013: $336,157,011Liabilities 2013: $168,344,645Net Assets 2013: $167,812,3662013Assets 2014: $343,691,672Liabilities 2014: $191,430,238Net Assets 2014: $152,261,4342014Assets 2015: $359,149,655Liabilities 2015: $191,440,362Net Assets 2015: $167,709,2932015Assets 2016: $349,657,490Liabilities 2016: $181,781,979Net Assets 2016: $167,875,5112016Assets 2017: $353,847,144Liabilities 2017: $179,110,773Net Assets 2017: $174,736,3712017Assets 2018: $440,731,204Liabilities 2018: $237,331,810Net Assets 2018: $203,399,3942018Assets 2019: $434,472,731Liabilities 2019: $232,388,075Net Assets 2019: $202,084,6562019Assets 2020: $558,489,117Liabilities 2020: $356,638,670Net Assets 2020: $201,850,4472020Assets 2021: $623,239,335Liabilities 2021: $374,310,810Net Assets 2021: $248,928,5252021Assets 2022: $635,568,215Liabilities 2022: $372,159,018Net Assets 2022: $263,409,1972022Assets 2023: $789,718,250Liabilities 2023: $518,050,685Net Assets 2023: $271,667,5652023Assets 2024: $867,124,817Liabilities 2024: $595,373,127Net Assets 2024: $271,751,6902024

Highlighted filing

2024

Assets$867,124,817
Liabilities$595,373,127
Net Assets$271,751,690

Operations Trend

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

$400M$200M$0-$200MExpenses 2010: $191,387,1562010Revenue 2011: $203,239,458Expenses 2011: $212,483,615Net Income 2011: -$9,244,1572011Expenses 2012: $216,730,3532012Revenue 2013: $334,152,546Expenses 2013: $291,375,629Net Income 2013: $42,776,9172013Revenue 2014: $210,416,655Expenses 2014: $224,156,411Net Income 2014: -$13,739,7562014Revenue 2015: $258,436,543Expenses 2015: $242,284,069Net Income 2015: $16,152,4742015Revenue 2016: $282,997,697Expenses 2016: $282,136,496Net Income 2016: $861,2012016Revenue 2017: $284,175,002Expenses 2017: $280,118,854Net Income 2017: $4,056,1482017Revenue 2018: $319,297,654Expenses 2018: $292,068,699Net Income 2018: $27,228,9552018Revenue 2019: $308,699,196Expenses 2019: $309,789,097Net Income 2019: -$1,089,9012019Revenue 2020: $321,976,604Expenses 2020: $321,177,381Net Income 2020: $799,2232020Revenue 2021: $383,054,003Expenses 2021: $338,073,981Net Income 2021: $44,980,0222021Revenue 2022: $366,981,680Expenses 2022: $338,426,342Net Income 2022: $28,555,3382022Revenue 2023: $367,265,660Expenses 2023: $364,898,280Net Income 2023: $2,367,3802023Revenue 2024: $382,656,910Expenses 2024: $393,548,522Net Income 2024: -$10,891,6122024

Highlighted filing

2024

Revenue$382,656,910
Expenses$393,548,522
Net Income-$10,891,612

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$867$595$272$383$394$10.9
2023Detailed filing. Detailed filing data is available for this year.$790$518$272$367$365$2.37
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$636$372$263$367$338$28.6
2021Summary only. Only limited summary data is available for this year.$623$374$249$383$338$45.0
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$558$357$202$322$321$0.80
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$434$232$202$309$310$1.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$441$237$203$319$292$27.2
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$354$179$175$284$280$4.06
2016Detailed filing. Detailed filing data is available for this year.$350$182$168$283$282$0.86
2015Detailed filing. Detailed filing data is available for this year.$359$191$168$258$242$16.2
2014Detailed filing. Detailed filing data is available for this year.$344$191$152$210$224$13.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$336$168$168$334$291$42.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$294$182$112$217
2011Summary only. Only limited summary data is available for this year.$301$176$125$203$212$9.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$303$173$130$191
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$419,355,277
Mission and Program Overview

Mission

The college's primary purpose is to provide an independent institution of higher and professional education. (see schedule o)

To provide an independent institution of higher and professional education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$329,122,651$316,746,815▼ $12,375,836
Investments in Publicly Traded Securities$127,534,393$147,545,434▲ $20,011,041
Other Notes and Loans Receivable, Net$16,493,384$22,696,218▲ $6,202,834
Cash and Non-Interest-Bearing Accounts$29,342,530$22,586,780▼ $6,755,750
Accounts Receivable$10,494,726$13,399,997▲ $2,905,271
Pledges and Grants Receivable$12,529,047$11,208,339▼ $1,320,708
Prepaid Expenses and Deferred Charges$5,088,249$7,533,850▲ $2,445,601
Intangible Assets$3,200,000$3,200,000→ $0
Investments Other Securities$838,000$838,000→ $0
Receivables From Officers Etc$58,427$58,427→ $0
Total Assets$789,718,250$867,124,817▲ $77,406,567
Other Assets Total$255,016,843$321,310,957▲ $66,294,114
Liabilities
Other Liabilities$221,839,073$282,361,957▲ $60,522,884
Tax Exempt Bond Liabilities$203,146,583$200,202,825▼ $2,943,758
Accounts Payable and Accrued Expenses$44,979,119$48,830,784▲ $3,851,665
Deferred Revenue$30,104,578$44,436,528▲ $14,331,950
Mortgage Notes Payable Secured by Investment Property$17,981,332$19,541,033▲ $1,559,701
Total Liabilities$518,050,685$595,373,127▲ $77,322,442
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$246,123,657$246,111,388▼ $12,269
Net Assets With Donor Restrictions$25,543,908$25,640,302▲ $96,394
Total Net Assets Fund Balance$271,667,565$271,751,690▲ $84,125
Total Liabilities and Net Assets / Fund Balance$789,718,250$867,124,817▲ $77,406,567

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$237,563,426$88,118,739$325,682,165
Equipment$26,012,050$42,796,241$68,808,291
Leasehold Improvements$22,588,086$36,843,454$59,431,540
Other Land Buildings$14,117,994$38,218,309$52,336,303
Land$16,465,259-$16,465,259
Other Assets Org$462,074--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$41,659,889$-4,997▲ $4,233,896$768,114$45,120,674
2022$36,998,666$2,113,128▲ $2,914,863$366,768$41,659,889
2021$43,308,379$24,169▼ $4,749,210$1,584,672$36,998,666
2020$38,618,085$31,647▲ $6,255,979$1,597,332$43,308,379
2019$40,342,144$500,000▲ $790,321$3,014,380$38,618,085
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alan KadishPresident, CEO and TrusteePT$1,046,150$289,283$1,335,433
Patricia SalkinProvost Grad and Prof SchoolsPT$453,411$113,797$567,208
Kenneth SteierExecutive Dean, ProfessorFT$501,590$54,901$556,491
Moshe KrupkaExecutive VPPT$326,063$142,842$468,905
Edward F Farkas End 1223Vice Dean, Touro Dental SchoolFT$426,794$30,999$457,793
Melvin NessSenior VP, CFOPT$431,730$25,995$457,725
Salomon AmarSr VP for Research AffairsPT$416,080$1,243$417,323
Elizabeth a PalmarozziDean, Touro Coll. Osteo. Med. MontanFT$399,068$13,434$412,502
Jeffrey RosengartenSenior VP of Oper. & Admin.PT$381,103$28,333$409,436
Ronnie MyersDean, Dental SchoolFT$366,212$40,398$406,610
Elena LanganDean, Law SchoolPT$355,659$32,293$387,952
Michael NewmanSecretary, Sr. VP and Gen CounselPT$342,064$40,794$382,858
Marian Stoltz-loikeVP, Online EducationFT$340,185$32,539$372,724
Matthew BonillaVP of Student ServicesPT$300,327$44,803$345,130
Judah WeinbergerVP of Collaborative MedicneFT$295,618$18,067$313,685
Henry CohenDean, Pharmacy SchoolFT$255,675$49,648$305,323
Steven LorenzetDean, School of Health SciencesFT$224,992$40,648$265,640
Louis PrimaveraFormer Dean, Sch. of Health SciencesFT$131,119$7,432$138,551
Rabbi Daniel LanderTrustee and Chancellor-$103,040$3,700$106,740
Rabbi Menachem GenackTrustee and FacultyPT$29,103$57,857$86,960

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Excel Guard CorpSecurity Services505 8TH AVENUE 17 FLOOR, New York, NY 10018$3,925,722
Hudson River Cio Advisors LLCIt Consulting Services17 SKYLINE DRIVE, Hawthorne, NY 10532$1,684,275
Google INCAdvertisingDEPT 33654, San Francisco, CA 94139$1,141,911
Outfront Media INCAdvertisingPO BOX 33074, Newark, NJ 07188-0074$888,000
Data Brains INCIt Consulting Services13241 BARTRAM PARK BLVD, Jacksonville, FL 32258$800,831
Revenue and Support

Revenue Composition

Contributions and Grants
$12,086,888
Program Service Revenue
$342,128,387
Investment Income
$4,237,262
Other Revenue
$24,204,373
All Other Contributions
$5,358,316
Change in Net Assets
$-10,891,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$214,664,060
Other Expenses$144,028,570
Grants and Similar Amounts Paid$34,855,892
Total Fundraising Expense$6,140,736
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$150,503,052$12,064,897$2,612,179$165,180,128
Occupancy$43,766,212$4,405,981$908,260$49,080,453
Grants to Domestic Individuals$31,034,865--$31,034,865
Other Employee Benefits$23,917,237$2,407,768$496,343$26,821,348
Depreciation Depletion$15,940,112$1,604,704$330,798$17,875,614
All Other Expenses$14,139,754$1,278,079$263,466$15,681,299
Payroll Taxes$10,216,914$1,028,545$212,027$11,457,486
Information Technology$10,007,700$1,007,484$207,685$11,222,869
Advertising$6,442,491$648,571$133,698$7,224,760
Fees for Services Other$5,418,638$545,499$112,450$6,076,587
Current Officers, Directors, Trustees, and Key Employees$1,762,432$3,263,797$547,715$5,573,944
Pension Plan Contributions$4,383,230$441,263$90,963$4,915,456
Office Expenses$2,902,662$584,066$65,740$3,552,468
Travel$2,139,350$215,370$44,397$2,399,117
Insurance$2,034,708$204,836$42,225$2,281,769
Grants to Domestic Orgs$2,075,000--$2,075,000
Foreign Grants$1,746,027--$1,746,027
Fees for Services Legal$1,319,831$132,868$27,390$1,480,089
Other Expenses$906,587$91,267$18,814$1,016,668
Comp Disqual Persons$638,205$64,249$13,244$715,698
Fees for Services Accounting-$694,056-$694,056
Conferences and Meetings$237,822$23,942$4,935$266,699
Fees for Services Lobbying$221,593$22,308$4,599$248,500
Fees for Service Investment Mgmnt Fees$183,486$18,472$3,808$205,766
Total Functional Expenses$356,659,764$30,748,022$6,140,736$393,548,522
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hebrew Theological College (htc)Skokie, IL501(c)(3)Education$2,075,000

International Summary

Offices
4
Employees
52
Spending
$3,571,022

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
Yes
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeGrantmakingEducation118$1,674,779
Middle East and North AfricaProgram ServicesEducation134$1,569,697
Russia and Neighboring StatesProgram Services-20$255,298
Middle East and North AfricaGrantmaking-00$71,248
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$234,067
Fundraising Gross Income$187,381
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dental Dinner$475,490$147,381$32,239$115,142
Law School Dinner$251,371$40,000$5,328$34,672
Total Events$726,861$187,381$234,067$-46,686
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Ttee Brother in LawEmp. Comp.No$141,602
-Ttee Son in LawEmp. Comp.No$128,449
-Ofc Sister in LawEmp. Comp.No$107,896
-Ttee SisterEmp. Comp.No$83,607
-Ttee Son in LawEmp. Comp.No$80,862
-Ttee SpouseEmp. Comp.No$65,636
-Ofc SiblingEmp. Comp.No$48,168
-Ttee SonEmp. Comp.No$36,911
-Ttee SonEmp. Comp.No$22,566

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$58,427$58,427→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$276,772,711
Tuition Escrow$4,820,182
Student Deposits$1,583,015
Other Liabilities$636,763
Intercompany Loan$20,411
Adjustment to Other Liabilities$-1,471,125

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority 2022a2022-07-28$57,767,150SEE PART VI
BDormitory Authority of the State of Ny 2020a2020-07-01$55,610,000Acquire and renovate facility
CDormitory Authority of the State of Ny 2014a2014-10-22$41,475,000REFUND TAXABLE LOAN
DDormitory Authority of the State of Ny 2013a (reissued)2023-12-21$15,128,812Reissuance of series 2013a bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$54,921,354$2,301,839$3,432,964$1,071,123
C$41,475,000-$380,870$826,365
B$35,348,863$40,648,635$9,325,000$705,000
D$15,128,812---

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
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 review process: the touro university form 990 and supporting schedules are prepared by an independent accounting firm. The controller, officers and the audit committee of the board of the organization then review the form 990. A copy of the form 990 is then provided to the full board of trustees prior to filing with the internal revenue service.

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

Conflict of interest policy: the annual board questionnaire, which requires disclosure of conflict interest and other details, is circulated to all of the board members and is reviewed by in-house counsel. Our policies require that trustees, officers, and key employees notify touro any time conflicts of interest arise. In the event there is a conflict of interest, or an appearance of a conflict of interest, the individual must recuse themselves from any discussions or decisions concerning the conflict.

Form 990, Part VI, Section B, Line 15A

Executive compensation: 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 periodically and, when applicable, when their contracts are renewed.

Form 990, Part VI, Section C, Line 19

Documentation available to public: the university makes its form 990 available to the public.

Filing and Contact Details

Filer

Filer Name
Touro University
EIN
13-2676570
Phone
6465656000
Address
202 WEST 43RD STREET, NEW YORK, NY 10036

Signing Officer

Name
Melvin Ness
Title
Senior VP and CFO
Phone
6465656000
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melvin Ness
Formed
1970
Legal Domicile
Ny
Voting Board Members
26
Independent Board Members
15
Employees
3,572
Volunteers
350

Preparer

Firm
Kpmg Llp
Address
345 PARK AVENUE, NEW YORK, NY 10154-0102
Preparer
Evan W Seekamp
Phone
2127589700
Supplemental Narrative

Additional Explanations

PART III, LINE 1, MISSION STATEMENT:

Touro university was established primarily to enrich the jewish heritage and to serve the larger american community. The university 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, a school of osteopathic medicine, and a school of dentistry. The university had an average enrollment of approximately 12,000 during the fiscal year.

Financial Statement Notes

PART III, LINE 1A:

Collection of art and religious objects a collection of art and religious objects acquired since inception through purchases, contributions and long term loans are insured for approximately $2,534,697 including approximately $481,000 related to religious objects on loan. Records of the cost of purchased items or of the fair value as of the date of contributions are not available in many instances, and the university has determined that it would not be practical to retroactively capitalize its collection.

PART III, LINE 4:

Religious artwork touro maintains artwork at various locations. A portion of the artwork represents religious artifacts used in weekly religious services. Other artwork is used to beautify the facilities to enhance student and faculty acceptance of their surroundings.

PART V, LINE 4:

Endowment funds to provide scholarships and grants to students, to add or improve facilities, to fund research and provide additional program funds.

PART X, LINE 2:

Accounting for uncertainty in income taxes the university subscribes to a threshold of more likely than not for recognition and derecognition of tax positions taken or expected to be taken in a tax return. As of june 30, 2024 and 2023, the university does not have any uncertain tax positions or any significant unrelated business income tax liability, which would have a material impact upon its financial statements.

Raw XML AppendixShowing 400 of 2,040 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.

Path#Value
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IRS990/BooksInCareOfDetail/USAddress/CityNm0NEW YORK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
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