New York University

“1) larry silverstein (trustee) and lisa silverstein (trustee) had a family relationship during the year ended august 31, 2018.”

“The university received a fraudulent invoice. Payment of $2,600,375 was made in connection with this fraudulent invoice and immediately recovered. Additional controls were implemented to prevent a recurrence of this issue.”

“The voting trustees are members of the university who have the power to appoint one or more members of the governing body and certain other powers pursuant to ny law.”

“The voting trustees are members of the university who have the power to appoint one or more members of the governing body and certain other powers pursuant to ny law.”

“The voting trustees are members of the university who have the power to appoint one or more members of the governing body and certain other powers pursuant to ny law.”

“The following steps were taken to review this irs form 990: 1. The form 990 was reviewed and approved by the university controller. 2. The form 990 was then reviewed and approved by the university's chief financial officer, the university's executive vice president and office of general counsel. 3. The form 990 was then presented to the university's audit and compliance committee for review. 4. The form 990 was distributed to the full board of trustees for review. 5. The compensation committee of board of trustees reviewed the compensation sections of the form 990. 6. Following the review period, the form 990 was electronically filed with the irs.”

“The office of general counsel annually sends out conflict of interest questionnaires to officers, trustees and key employees, reviews completed questionnaires and consults with those completing forms as appropriate. In addition, questions arise periodically throughout the year and are handled by the office of general counsel as appropriate.”

“The proposed compensation of officers, trustees, key employees, disqualified persons and certain others (except the president) is reviewed annually by an outside consulting firm and that firm's analysis is presented to the compensation committee of the board for its review and approval. When it is proposed to change the compensation of the president, the board chairman engages a compensation consultant to prepare a custom survey for consideration by the compensation committee of the board, which then sets his compensation.”

“Governing documents, conflict of interest policy and financial statements are available on its website (www.nyu.edu).”

“Total unrelated business revenue per part viii is $2,135,025. Total unrelated business income per line 13 of the 990-t is $12,695,333. The difference of $10,560,308 is due to the qualified transportation fringe benefits that is not being included in revenue on part viii.”

“Other change in net assets 28,598,608.”

“The audit and compliance committee of the board of trustees has responsibility for oversight of nyu's financial statement audit and selection of its independent auditor. There has been no change in process since prior year.”

“Other change in net assets (line 9) as reflected on part xi, reconciliation of net assets, is related to the fact that several nyu affiliates were dissolved during fy18 and the net asset balances were transferred to nyu.”

“Nyu is recognized both nationally and internationally as a leader in scholarship and is a member of the distinguished association of american universities. The university's schools and institutes, each with its own traditions, programs and faculty, are (in order of founding date): college of arts and science, school of law, school of medicine, college of dentistry, graduate school of arts and science, steinhardt school of culture education and human development, leonard n. Stern school of business, courant institute of mathematical sciences, school of professional studies, institute of fine arts, robert f.wagner graduate school of public service, silver school of social work, tisch school of the arts, gallatin school of individualized study, rory meyers college of nursing, the institute for the study of the ancient world, nyu abu dhabi, the tandon school of engineering, and the college of global public health. The university also operates academic program sites and research programs in other parts of the united states and abroad. In addition to the colleges and divisions, nyu operates nyu shanghai, which grants nyu degrees, as a joint venture with east china normal university.”

“The valuation recorded in the university's fundraising system is usually based upon the professional appraisal submitted with the gift. In the event there is no appraisal and valuation cannot be determined, a nominal value of $2 is recorded.”