New York University Real Estate Corp

Nonprofit profile at a glance

EIN
134141728
IRS 990 coverage
2009–2014
Forms available
Form 990 2014
Location
New York, NY, USA
Phone
2129982955
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
University or Technological Institute

Reported finances

Revenue
$3,297,828
Expenses
$4,768,660
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

7 people listed

Highest reported compensation

  • JOHN SEXTON (CHAIR (END: 7/9/15)): $1,587,885 total reported compensation
  • DAVID MCLAUGHLIN (DIRECTOR): $705,791 total reported compensation
  • MARTIN DORPH (TREASURER & CHAIR (BEGIN: 7/9/15)): $698,183 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

New York university real estate corporation was organized and is operated exclusively for the purpose of acquiring real property and holding title to and collecting income from such property and (continued on schedule o)remitting the entire income of such property (less expenses) to New York university (a 501(c)(3) corporation). The income will be used to promote, encourage and sponsor study, research and other educational activities in the area of science and the practice of medicine.

What it reported doing in 2014

Support to New York university

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 69% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 68
  • Accountability: 42
  • Sustainability: 4
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 70th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -44.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 9.6%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 49.2% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -22.5% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.8M in reported program spending
  • Leadership: top reported pay $1.6M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 6 filing years from 2009 to 2014
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 28 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.