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TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is atwww.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Inspection
Name of the organization
ALBERT EINSTEIN COLLEGE OF MEDICINE STAFF
HOUSING CO INC
HOUSING CO INC
Employer identification number
23-7075620
23-7075620
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, LINE 11B - REVIEW OF FORM 990 | THE STAFF HOUSING COMPANY'S FORM 990 WAS PREPARED BY YESHIVA UNIVERSITY'S DIRECTOR OF TAX WITH INPUT FROM THE FINANCE DEPARTMENT AND REVIEWED AND SIGNED BY AN INDEPENDENT OUTSIDE ACCOUNTING FIRM. THE UNIVERSITY'S CHIEF FINANCIAL OFFICER AND GENERAL COUNSEL, BOTH OFFICERS AND DIRECTORS OF THE ORGANIZATION AND OFFICERS OF THE UNIVERSITY, WERE ALSO INVOLVED IN THE REVIEW PROCESS. THE FORM 990 WAS DISTRIBUTED TO THE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY PRIOR TO FILING, AND IS MADE AVAILABLE TO THE PUBLIC IN ACCORDANCE WITH INTERNAL REVENUE SERVICE RULES AND REGULATIONS. |
| FORM 990, PART VI, LINE 12C - CONFLICT OF INTEREST POLICY | ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE OFFICERS, DIRECTORS OR EMPLOYEES OF YESHIVA UNIVERSITY, A NON-PROFIT RELATED ORGANIZATION, WHICH IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS THE STAFF HOUSING COMPANY'S PARENT SPONSORING ORGANIZATION. THE STAFF HOUSING COMPANY'S FINANCIAL STATEMENTS ARE INCORPORATED INTO THE CONSOLIDATED FINANCIAL STATEMENTS OF YESHIVA UNIVERSITY. THE ORGANIZATION HAS ADOPTED THE UNIVERSITY'S POLICIES AND PROCEDURES. THE UNIVERSITY'S WRITTEN CONFLICT OF INTEREST POLICY (WHICH WAS ADOPTED BY ITS GOVERNING BOARD, THE BOARD OF TRUSTEES) IS ALSO APPLICABLE TO THE OFFICERS, DIRECTORS AND EMPLOYEES OF THE ORGANIZATION. ACCORDINGLY, IN ACCORDANCE WITH THE UNIVERSITY'S POLICY, ON AN ANNUAL BASIS, A DISCLOSURE STATEMENT IS DISTRIBUTED TO ALL OFFICERS, AND DIRECTORS OF THE ORGANIZATION. THE UNIVERSITY'S OFFICE OF GENERAL COUNSEL MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY, BY REVIEWING THE COMPLETED DISCLOSURE STATEMENTS, AND, IF WARRANTED, REPORTS CONFLICTS TO THE CHIEF FINANCIAL OFFICER AND/OR THE UNIVERSITY'S CONFLICT OF INTEREST COMMITTEE FOR APPROPRIATE REVIEW AND/OR ACTION. A MORE DETAILED DISCLOSURE OF THE CONFLICT OF INTEREST POLICY MAY BE FOUND IN YESHIVA UNIVERSITY'S FORM 990. |
| FORM 990, PART XII, LINE 2C - FINANCIAL STATEMENTS AND REPORTING | THE YESHIVA UNIVERSITY AUDIT COMMITTEE REVIEWS YESHIVA UNIVERSITY'S ANNUAL CONSOLIDATED FINANCIAL STATEMENTS INTO WHICH THE STAFF HOUSING COMPANY IS CONSOLIDATED. |
| FORM 990, PART VI, LINE 8 | ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE OFFICERS, DIRECTORS OR EMPLOYEES OF YESHIVA UNIVERSITY, A NON-PROFIT RELATED ORGANIZATION, WHICH IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS THE STAFF HOUSING COMPANY'S PARENT SPONSORING ORGANIZATION. THE STAFF HOUSING COMPANY'S FINANCIAL STATEMENTS ARE INCORPORATED INTO THE CONSOLIDATED FINANCIAL STATEMENTS OF YESHIVA UNIVERSITY. THE GOVERNING BOARD OF YESHIVA UNIVERSITY IS ITS BOARD OF TRUSTEES, WHICH CONTEMPORANEOUSLY DOCUMENTS THE MEETINGS HELD OR WRITTEN ACTIONS UNDERTAKEN WITHOUT A MEETING, AND WHICH IS AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY OF STAFF HOUSING. THE ORGANIZATION HAS ADOPTED THE APPLICABLE POLCIES AND PROCEDURES OF YESHIVA UNIVERSITY. |
| FORM 990, PART VI, LINE 13 | ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE OFFICERS, DIRECTORS OR EMPLOYEES OF YESHIVA UNIVERSITY, A NON-PROFIT RELATED ORGANIZATION WHICH IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS THE STAFF HOUSING COMPANY'S PARENT SPONSORING ORGANIZATION. THE STAFF HOUSING COMPANY'S FINANCIAL STATEMENTS ARE INCORPORATED INTO THE CONSOLIDATED FINANCIAL STATEMENTS OF YESHIVA UNIVERSITY. THE STAFF HOUSING COMPANY HAS ADOPTED THE APPLICABLE POLICIES AND PROCEDURES OF THE UNIVERSITY. |
| FORM 990, PART VI, LINE 14 | ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE OFFICERS, DIRECTORS OR EMPLOYEES OF YESHIVA UNIVERSITY, A NON-PROFIT RELATED ORGANIZATION, WHICH IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS THE STAFF HOUSING COMPANY'S PARENT SPONSORING ORGANIZATION. THE STAFF HOUSING COMPANY'S FINANCIAL STATEMENTS ARE INCORPORATED INTO THE CONSOLIDATED FINANCIAL STATEMENTS OF YESHIVA UNIVERSITY. THE STAFF HOUSING COMPANY HAS ADOPTED THE APPLICABLE POLICIES AND PROCEDURES OF THE UNIVERSITY. |
| FORM 990, PART VI, LINES 15A & 15B | ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE OFFICERS, DIRECTORS, OR EMPLOYEES OF YESHIVA UNIVERSITY, A NON-PROFIT RELATED ORGANIZATION, WHICH IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS THE STAFF HOUSING COMPANY'S PARENT SPONSORING ORGANIZATION. THE STAFF HOUSING COMPANY'S FINANCIAL STATEMENTS ARE INCORPORATED INTO THE CONSOLIDATED FINANCIAL STATEMENTS OF YESHIVA UNIVERSITY. THE PROCESS FOR DETERMINING THE COMPENSATION OF THE OFFICERS, DIRECTORS AND KEY EMPLOYEES OF THE ORGANIZATION IS THE PROCESS THAT IS FOLLOWED AND IMPLEMENTED BY THE UNIVERSITY, WHICH IS MORE FULLY DESCRIBED IN YESHIVA UNIVERSITY'S FORM 990. |
| FORM 990, PART VI, LINE 19 | ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE OFFICERS, DIRECTORS, AND/OR EMPLOYEES, OF YESHIVA UNIVERSITY, A NON-PROFIT RELATED ORGANIZATION, WHICH IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS THE STAFF HOUSING COMPANY'S PARENT SPONSORING ORGANIZATION. THE STAFF HOUSING COMPANY'S FINANCIAL STATEMENTS ARE INCORPORATED INTO THE CONSOLIDATED FINANCIAL STATEMENTS OF YESHIVA UNIVERSITY. COPIES OF THE UNIVERSITY'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE PUBLIC FILING SYSTEM OF THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK. COPIES OF ITS CHARTER ARE AVAILABLE FROM THE NEW YORK STATE DEPARTMENT OF EDUCATION. IN ADDITION, REQUESTS FOR COPIES OF THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WOULD BE REFERRED TO EITHER THE GENERAL COUNSEL OR CHIEF FINANCIAL OFFICER, FOR DETERMINATION ON A CASE-BY-CASE BASIS. |
| CONSOLIDATED FILING WITH YESHIVA UNIVERSITY'S FORM 990-T | ANY UNRELATED TRADE OR BUSINESS INCOME GENERATED BY THE STAFF HOUSING COMPANY WILL BE REPORTED ON A CONSOLIDATED BASIS ON YESHIVA UNIVERSITY'S FORM 990-T IN ACCORDANCE WITH IRC SECTION 511(C). ACCORDINGLY, THE STAFF HOUSING COMPANY IS TREATED AS ORGANIZED AND OPERATED FOR THE SAME EXEMPT PURPOSES AS YESHIVA UNIVERSITY. |
| FORM 990, PART IX, LINE 11G,FUNCTIONAL EXPENSES - FEES FOR SERVICES DETAIL | DETAIL OF OTHER FEES FOR SERVICES: MAINTENANCE CONTRACTS $1,302,187 TRASH REMOVAL 40,281 SECURITY CONTRACT 907,033 PROFESSIONAL FEES 10,199 ----------- TOTAL $2,259,700 |
| SUBSEQUENT EVENT | 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. THE TRANSACTION WAS APPROVED BY THE APPROPRIATE REGULATORY AND JUDICIAL AUTHORITIES, INCLUDING THE U.S. DEPARTMENT OF EDUCATION, THE NEW YORK STATE EDUCATION DEPARTMENT, THE NEW YORK STATE ATTORNEY GENERAL AND THE APPLICABLE NEW YORK COURT WITH JURISDICTION OVER THIS TRANSACTION. |
| FORM 990 PART IX LINE 11G | DESCRIPTION:OTHER FEES TOTAL FEES:2259700 |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2014
Additional Data
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