Nymc Llc

Overview

Mission

New York medical college, lovelace biomedical research institute and mclaughlin research institute for biomedical sciences and the operations of trumada management.

What it reported doing in 2024

The acquisition of the New York medical college, lovelace biomedical research institute, lovelace scientific resources, and mclaughlin research institute for biomedical sciences. Facilitates and accelerates the university's strategic growth, improves the quality of its educational offerings, expands research and development activities, and provides greater professional opportunities for students. (see schedule o).

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

Nonprofit profile at a glance

EIN
271481147
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6465656000
Rating confidence
Limited
Sector
Single Organization Support

Official website

Reported finances

Revenue
$0
Expenses
$17,303
Assets
$60,338,199
Liabilities
$60,864,399

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

- This form does not report enough financial and governance detail to rate the organization. That is normal for this form and is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 58
  • Accountability: 79
  • Sustainability: 30
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 3,487.15; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 1,546.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -7.3% per year; rating input score 0; 33rd percentile among comparable filings
  • Revenue growth: -21.4% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: 0% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.4M · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 27 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.

Leadership & pay

6 people listed

Highest reported compensation

  • ALAN KADISH (PRESIDENT, CEO AND MANAGER): $1,361,965 total reported compensation
  • MELVIN NESS (ASSISTANT TREASURER): $508,276 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.