Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| FORM 990, PART V, LINE 2B: | ALL EMPLOYEES ARE PAID BY ALBERT EINSTEIN COLLEGE OF MEDICINE, INC., EIN 47-2209056, THE COMMON PAYMASTER. ALBERT EINSTEIN COLLEGE OF MEDICINE, INC. ISSUES ALL W-2S. SALARIES ARE DIRECTLY ALLOCATED TO ALBERT EINSTEIN COLLEGE OF MEDICINE STUDENT HOUSING CO., INC. ALL FEDERAL EMPLOYMENT TAX RETURNS ARE FILED BY ALBERT EINSTEIN COLLEGE OF MEDICINE, INC., THE COMMON PAYMASTER. |
| FORM 990, PART VI, SECTION A, LINE 4: | DUE TO THE PROCESS RESULTING IN THE SEPTEMBER 9, 2015 JOINT COLLABORATION AGREEMENT OF THIS ORGANIZATIONS SOLE MEMBER, ALBERT EINSTEIN COLLEGE OF MEDICINE, INC. WITH MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM, INC., THIS ORGANIZATION WAS REQUIRED TO MAKE SIGNIFICANT CHANGES TO ITS GOVERNING DOCUMENTS SINCE THE PRIOR FORM 990 WAS FILED. THE ORGANIZATION WAS REQUIRED TO FILE A RESTATED CERTIFICATE OF INCORPORATION WITH THE STATE OF NEW YORK, AND HAD ALSO AMENDED AND RESTATED ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 6: EFFECTIVE SEPTEMBER 9, 2015, The sole member of Albert Einstein College of Medicine STUDENT Housing Co., Inc. is Albert Einstein College of Medicine, Inc., a Section 501(c)(3) tax-exempt New York not-for-profit corporation. |
| FORM 990, PART VI, SECTION A, LINE 7A: | Albert Einstein College of Medicine, Inc., the sole member, has the authority to appoint the Board of Directors of Albert Einstein College of Medicine STUDENT Housing Co., Inc. |
| FORM 990, PART VI, SECTION A, LINE 7B: | THE BOARD OF TRUSTEES OF ALBERT EINSTEIN COLLEGE OF MEDICINE, INC., THE SOLE MEMBER OF THE ORGANIZATION, HAS THE AUTHORITY TO MAKE THE GOVERNANCE DECISIONS OF THE ORGANIZATION INCLUDING: APPROVING THE OPERATING AND CAPITAL BUDGETS; TO FIX THE SIZE OF THE ORGANIZATIONSS BOARD OF TRUSTEES; REMOVE TRUSTEES AND DIRECTORS; AMEND, REPEAL AND RESTATE THE ORGANIZATIONS BYLAWS; THE APPOINTMENT OF EXECUTIVE AND OTHER COMMITTEES; AUTHORIZE ANY OFFICER OR AGENT TO TAKE ANY ACTION AND TO ENTER INTO ANY CONTRACT, EXECUTE AND DELIVER ALL KINDS OF INSTRUMENTS INCLUDING CHECKS, NOTES, DRAFTS AND BILLS OF EXCHANGE IN THE NAME OF THIS FILING ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 11B: | THE FORM 990 WAS PREPARED BY THE FINANCE DEPARTMENT OF MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM, INC. AND WAS REVIEWED AND APPROVED BY IT'S CORPORATE CONTROLLER AND VICE PRESIDENT - FINANCE. AN INDEPENDENT PUBLIC ACCOUNTING FIRM WAS ENGAGED TO REVIEW THE FORM 990. UPON COMPLETION OF THE VARIOUS REVIEWS, THE FINAL FORM 990 WAS PRESENTED TO THE BOARD OF TRUSTEES OF ALBERT EINSTEIN COLLEGE OF MEDICINE STUDENT HOUSING CO., INC. FOR APPROVAL PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C: | THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY MEANS OF A SURVEY THAT WAS DEVELOPED BY MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM INC.'S COUNSEL. ALBERT EINSTEIN COLLEGE OF MEDICINE STUDENT HOUSING CO., INC.'S BOARD OF TRUSTEES ADOPTED THE POLICY OF ALBERT EINSTEIN COLLEGE OF MEDICINE, INC., ITS SOLE MEMBER. THE POLICY STIPULATES THAT THE GENERAL APPROACH WHEN A POTENTIAL CONFLICT ARISES IS TO DISCLOSE THE POSSIBLE CONFLICT TO THE COMPLIANCE OFFICER. THE COMPLIANCE OFFICER WILL MAKE EVERY EFFORT TO PROVIDE GUIDANCE TO PERMIT RESOLUTION OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE COMPLIANCE OFFICER WILL TAKE APPROPRIATE ACTIONS, INCLUDING ADVISING ALBERT EINSTEIN COLLEGE OF MEDICINE STAFF HOUSING, INC.'S BOARD OF TRUSTEES REGARDING POTENTIAL CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15A & 15B: | THE CURRENT DIRECTORS AND OFFICERS PRESENTED IN PART VII AND SCHEDULE J ARE NOT EMPLOYED AND PAID BY THE ORGANIZATION AND ARE EMPLOYED AND PAID BY MONTEFIORE HEALTH SYSTEM, INC., EIN 20-1615393. THE FORMER DIRECTORS/OFFICERS PRESENTED WERE EMPLOYED AND PAID BY YESHIVA UNIVERSITY, EIN 13-1624255, THE FORMER PARENT SPONSORING ORGANIZATION PRIOR TO THE SEPTEMBER 9, 2015 JOINT COLLABERATION AGREEMENT. MONTEFIORE HEALTH SYSTEM, INC. IS COMMITTED TO ENSURING THAT ITS EXECUTIVE COMPENSATION PROGRAM ADHERES TO THE HIGHEST STANDARDS OF REGULATORY COMPLIANCE AND BEST CORPORATE GOVERNANCE. THE BOARD OF TRUSTEES HAS CHARGED THE COMPENSATION COMMITTEE OF THE BOARD (WHICH IS COMPRISED OF INDEPENDENT BOARD MEMBERS WITH NO CONFLICTS OF INTEREST IN REGARDS TO EXECUTIVE COMPENSATION) WITH MAKING ALL DECISIONS RELATED TO COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. ALL DECISIONS MADE BY THE COMPENSATION COMMITTEE ARE APPROPRIATELY AND TIMELY DOCUMENTED IN MEETING MINUTES. THE COMPENSATION COMMITTEE'S REVIEW PROCESS FOLLOWS THE INTERMEDIATE SANCTIONS GUIDELINES FOR QUALIFYING FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS. THE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IT WITH THIS PROCESS. COMPENSATION LEVELS ARE ESTABLISHED CONSIDERING DATA FOR COMPARABLE ORGANIZATIONS, AN ASSESSMENT OF MANAGEMENT PERFORMANCE (INCLUDING THE SERVICES PROVIDED TO THE COMMUNITY), AND OTHER BUSINESS JUDGMENT FACTORS, CONSISTENT WITH MONTEFIORE'S EXECUTIVE COMPENSATION PHILOSOPHY. THE COMMITTEE'S DECISIONS ARE MADE IN THE BEST INTEREST OF MONTEFIORE HEALTH SYSTEM, INC., AND ARE INTENDED TO ENSURE THE RECRUITMENT AND RETENTION OF KEY EXECUTIVE TALENT, CONSISTENT WITH THE MARKET PRACTICES OF OTHER NOT-FOR-PROFIT HEALTHCARE ORGANIZATIONS OF COMPARABLE SCOPE, MISSION AND COMPLEXITY. ON AN ANNUAL BASIS, THE COMMITTEE PROVIDES THE FULL BOARD OF TRUSTEES WITH A DESCRIPTION OF THE COMMITTEE'S REVIEW AND APPROVAL PROCESS AND ITS DECISIONS. DECISIONS. |
| FORM 990, PART VI, SECTION C, LINE 19: | THE CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE ORGANIZATION'S FINANCIAL DATA AND TAX RETURNS ARE REDILY AVAILABLE ON WWW.GUIDESTAR.ORG |
| FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS | PURSUANT TO THE SEPTEMBER 9, 2015 JOINT COLLABORATION AGREEMENT WITH MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM, INC., THE CORPORATION HAS ELECTED TO APPLY PUSHDOWN ACCOUNTING, OR THE USE OF THE ACQUIRER'S BASIS OF ACCOUNTING IN THE PREPARATION OF THE FINANCIAL STATEMENTS, CONSISTENT WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS UPDATE NO. (ASU) 2014-17, BUSINESS COMBINATIONS (TOPIC 805): PUSHDOWN ACCOUNTING. IN CONNECTION WITH THE TRANSACTION, THE ASSETS AND LIABILITIES OF THE CORPORATION WERE MARKED TO FAIR VALUE AS OF THE ACQUISITION DATE, AND THE CORPORATION ADAPTED ACCOUNTING POLICIES, WHICH RESULTED IN A NET INCREASE ON LINE 9 TO THE VALUE OF NET ASETS ACQUIRED AS COMPARED TO HISTORICAL CARRYING AMOUNTS. THIS INCREASE IN THE CORPORATION'S NET ASSETS WAS ATTRIBUTABLE TO THE APPRAISAL OF LAND ACQUIRED. |
| FORM 990 PART IX LINE 11G | DESCRIPTION:SECURITY TOTAL FEES:471673 |
| FORM 990 PART IX LINE 11G | DESCRIPTION:CLEANING TOTAL FEES:387370 |
| FORM 990 PART IX LINE 11G | DESCRIPTION:PARKING TOTAL FEES:168853 |
| FORM 990 PART IX LINE 11G | DESCRIPTION:TRASH REMOVAL TOTAL FEES:31785 |
| FORM 990 PART IX LINE 11G | DESCRIPTION:EXTERMINATOR TOTAL FEES:6378 |
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