Civic Intelligence

Nymc LLC

990 • Fiscal year 2016 • EIN 27-1481147

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

Organization ProfileWWW.TOURO.EDU
500 Seventh AvenueNew York, NY 10018

(646) 565-6000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.00x

Higher debt load relative to assets than 97% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2016

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2016

Top Officer Pay

97th percentile

$814,195

Higher top officer pay than 97% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Source year 2016

Asset Growth

50th percentile

0.0%

Faster asset growth than 50% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Flat

$60,080,719

Flat from 2015

Net Assets

Down

-$34,686

Down $25 (-0.1%) from 2015

Liabilities

Up

$60,115,405

Up $25 (+0.0%) from 2015

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Flat

$0

Flat from 2015

Expenses

Down

$25

Down $25 (-50%) from 2015

Net Income

Up

-$25

Up $25 (+50%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0-$20MAssets 2011: $60,080,719Liabilities 2011: $60,109,520Net Assets 2011: -$28,8012011Assets 2012: $60,080,719Liabilities 2012: $60,110,050Net Assets 2012: -$29,3312012Assets 2013: $60,080,719Liabilities 2013: $60,110,487Net Assets 2013: -$29,7682013Assets 2014: $60,080,719Liabilities 2014: $60,115,330Net Assets 2014: -$34,6112014Assets 2015: $60,080,719Liabilities 2015: $60,115,380Net Assets 2015: -$34,6612015Assets 2016: $60,080,719Liabilities 2016: $60,115,405Net Assets 2016: -$34,6862016Assets 2017: $60,080,719Liabilities 2017: $60,115,430Net Assets 2017: -$34,7112017Assets 2018: $60,080,719Liabilities 2018: $60,325,675Net Assets 2018: -$244,9562018Assets 2019: $60,081,762Liabilities 2019: $60,463,858Net Assets 2019: -$382,0962019Assets 2020: $60,080,719Liabilities 2020: $60,495,869Net Assets 2020: -$415,1502020Assets 2021: $60,080,719Liabilities 2021: $60,517,770Net Assets 2021: -$437,0512021Assets 2022: $60,082,178Liabilities 2022: $60,545,081Net Assets 2022: -$462,9032022Assets 2023: $60,082,177Liabilities 2023: $60,570,924Net Assets 2023: -$488,7472023Assets 2024: $60,370,097Liabilities 2024: $60,878,994Net Assets 2024: -$508,8972024

Highlighted filing

2016

Assets$60,080,719
Liabilities$60,115,405
Net Assets-$34,686
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200K-$400KExpenses 2011: $28,8012011Expenses 2012: $5302012Expenses 2013: $4372013Revenue 2014: $500Expenses 2014: $5,343Net Income 2014: -$4,8432014Revenue 2015: $0Expenses 2015: $50Net Income 2015: -$502015Revenue 2016: $0Expenses 2016: $25Net Income 2016: -$252016Revenue 2017: $0Expenses 2017: $25Net Income 2017: -$252017Revenue 2018: $0Expenses 2018: $210,245Net Income 2018: -$210,2452018Revenue 2019: $0Expenses 2019: $137,065Net Income 2019: -$137,0652019Revenue 2020: $0Expenses 2020: $33,054Net Income 2020: -$33,0542020Revenue 2021: $0Expenses 2021: $21,901Net Income 2021: -$21,9012021Revenue 2022: $0Expenses 2022: $25,852Net Income 2022: -$25,8522022Revenue 2023: $0Expenses 2023: $25,844Net Income 2023: -$25,8442023Revenue 2024: $0Expenses 2024: $20,150Net Income 2024: -$20,1502024

Highlighted filing

2016

Revenue$0
Expenses$25
Net Income-$25
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$0
Mission and Program Overview

Mission

Nymc, llc was formed to assist touro university ("the university") in the purchase of new york medical college. (see schedule o.)

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$60,080,719$60,080,719→ $0
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$60,080,719$60,080,719→ $0
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$60,115,380$60,115,405▲ $25
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$60,115,380$60,115,405▲ $25
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-34,661$-34,686▼ $25
Total Net Assets Fund Balance$-34,661$-34,686▼ $25
Total Liabilities and Net Assets / Fund Balance$60,080,719$60,080,719→ $0

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$60,080,719--
Compensation and Service Providers
Top Officer Pay97th percentile

Board Members and Trustees

NameTitle
Mark HastenChairman/Trustee
Alan KadishPresident and CEO
Ben ChouakeTreasurer & Trustee
David LichtensteinTrustee
Martin OlinerTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-25
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$0$25$0$25
Total Functional Expenses$0$25$0$25
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$60,115,405
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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 A, Line 6

“Member of the organization touro college is the sole member of the filing entity.”

Form 990, Part VI, Section A, Line 7A

“Touro college is the sole member of the filing entity. As such, touro college elects all members of the board.”

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

“THE NYMC LLC FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE Audit Committee, CFO and Controller of Touro College, Officers and the board of directors 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 the annual board questionnaire, that requires disclosure of conflict of interest and other details, is circulated to all of the board members and is reviewed by in-house counsel.”

Form 990, Part VI, Section C, Line 19

“Availability of documentation the form 990 and related information are made available to the public, however, governing documents, conflict of interest policy and financial statements are not made public.”

Filing and Contact Details

Filer

Filer Name
Nymc LLC
EIN
27-1481147
In Care Of
% STUART LIPPMANN
Phone
6465656000
Address
500 SEVENTH AVENUE, NEW YORK, NY 10018

Signing Officer

Name
Alan Kadish
Title
President and CEO
Phone
2124630400
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Kadish
Formed
2009
Legal Domicile
De
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Kpmg Llp
Address
345 Park Avenue, New York, NY 10154-0102
Preparer
Mary-evelyn Antonetti
Phone
2127589700
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1, Part III, Line 1 and Part III, Line 4

“Description of organization mission nymc, llc was formed to assist touro college in the purchase of new york medical college. Nymc, llc became the sole member of new york medical college on may 13, 2011. The acquisition of the medical college facilitates and accelerates the college's strategic growth, improves the quality of its educational offerings, expands research and development activities, and provides greater professional opportunities for its students.”

Financial Statement Notes

Schedule D, Part X, Line 2

“ACCOUNTING FOR UNCERTAIN TAX POSITIONS FOOTNOTE FROM TOURO COLLEGE & RELATED ENTITIES CONSOLIDATED FINANCIAL STATEMENTS NYMC LLC PRESCRIBES 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, 2016 and 2015, NYMC LLC does not have any uncertain tax positions or any unrelated business income tax liability, which would have a material impact upon its net assets.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0TOURO COLLEGE
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt060080719
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVEST. IN NY MEDICAL COLLEGE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt060115405
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING FOR UNCERTAIN TAX POSITIONS FOOTNOTE FROM TOURO COLLEGE & RELATED ENTITIES CONSOLIDATED FINANCIAL STATEMENTS NYMC LLC PRESCRIBES 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, 2016 and 2015, NYMC LLC does not have any uncertain tax positions or any unrelated business income tax liability, which would have a material impact upon its net assets.
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IRS990ScheduleD/TotalLiabilityAmt060115405
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt0122961
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Alan Kadish
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President and CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0814195
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0SCHEDULE J, PART I, LINE 3 The filing organization, NYMC LLC, does not compensate any of its officers or directors. The officers and directors of NYMC LLC are compensated by a related tax exempt organization. The related tax exempt organization uses the following methods to determine the compensation of its President/CEO and Chancellor: - Compensation Committee - Compensation Survey - Approval by the Board or compensation committee
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0METHODS USED TO DETERMINE COMPENSATION
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION OF ORGANIZATION MISSION NYMC, LLC WAS FORMED TO ASSIST TOURO COLLEGE IN THE PURCHASE OF NEW YORK MEDICAL COLLEGE. NYMC, LLC BECAME THE SOLE MEMBER OF NEW YORK MEDICAL COLLEGE ON MAY 13, 2011. THE ACQUISITION OF THE MEDICAL COLLEGE FACILITATES AND ACCELERATES THE COLLEGE'S STRATEGIC GROWTH, IMPROVES THE QUALITY OF ITS EDUCATIONAL OFFERINGS, EXPANDS RESEARCH AND DEVELOPMENT ACTIVITIES, AND PROVIDES GREATER PROFESSIONAL OPPORTUNITIES FOR ITS STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBER OF THE ORGANIZATION TOURO COLLEGE IS THE SOLE MEMBER OF THE FILING ENTITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TOURO COLLEGE IS THE SOLE MEMBER OF THE FILING ENTITY. AS SUCH, TOURO COLLEGE ELECTS ALL MEMBERS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE NYMC LLC FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE Audit Committee, CFO and Controller of Touro College, Officers and the board of directors 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST THE ANNUAL BOARD QUESTIONNAIRE, THAT REQUIRES DISCLOSURE OF CONFLICT OF INTEREST AND OTHER DETAILS, IS CIRCULATED TO ALL OF THE BOARD MEMBERS AND IS REVIEWED BY IN-HOUSE COUNSEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABILITY OF DOCUMENTATION THE FORM 990 AND RELATED INFORMATION ARE MADE AVAILABLE TO THE PUBLIC, HOWEVER, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 1, PART III, LINE 1 AND PART III, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt2C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd2CA
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Touro Speech & Rehab
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1Touro Foundation Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2Touro University Foundation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0500 7TH AVE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt1500 7TH AVE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt2500 7TH AVE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm2NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$60,080,719
Liabilities
$60,115,405
Net assets
-$34,686
Revenue
$0
Expenses
$25
Net income
-$25
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.4$60.9$0.51$0.00$0.02$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.1$60.6$0.49$0.00$0.03$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.1$60.5$0.46$0.00$0.03$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$60.5$0.44$0.00$0.02$0.02
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$60.5$0.42$0.00$0.03$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.1$60.5$0.38$0.00$0.14$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.1$60.3$0.24$0.00$0.21$0.21
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.1$60.1$0.03$0.00$0.00$0.00
2016Detailed filing. Detailed filing data is available for this year.$60.1$60.1$0.03$0.00$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$60.1$60.1$0.03$0.00$0.00$0.00
2014Detailed filing. Detailed filing data is available for this year.$60.1$60.1$0.03$0.00$0.01$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$60.1$0.03$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$60.1$0.03$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$60.1$0.03$0.03