2024-10-15T12:41:12-05:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 131656674 THE NEW YORK ACADEMY OF MEDICINE NEWY 2128227222 1216 FIFTH AVENUE NEW YORK NY 100295205 ANDREA CHOI SVP FINANCE & ADMIN 2128227222 2024-10-15 1 1 GARRETT M HIGGINS P00543209 2122862600 2024-10-15 2023 2024-10-15 13:58:12Z ANN KURTH 1216 FIFTH AVENUE NEW YORK NY 100295205 67873883 0 X WWW.NYAM.ORG X 1851 NY SEE SCHEDULE O. THE NEW YORK ACADEMY OF MEDICINE (NYAM) TACKLES THE BARRIERS THAT PREVENT EVERY INDIVIDUAL FROM LIVING A HEALTHY LIFE. NYAM GENERATES THE KNOWLEDGE NEEDED TO CHANGE THE SYSTEMS THAT PREVENT PEOPLE FROM ACCESSING WHAT THEY NEED TO BE HEALTHY SUCH AS SAFE AND AFFORDABLE HOUSING, HEALTHY FOOD, HEALTHCARE AND MORE. THROUGH ITS HIGH-PROFILE PROGRAMMING FOR THE GENERAL PUBLIC, FOCUSED SYMPOSIA FOR HEALTH PROFESSIONALS, AND ITS BASE OF DEDICATED FELLOWS AND MEMBERS, NYAM ENGAGES THE MINDS AND HEARTS OF THOSE WHO ALSO VALUE ADVANCING HEALTH EQUITY TO MAXIMIZE HEALTH FOR ALL. 22 21 130 25 65624 0 5717169 4115272 1622684 1452587 3091268 12768124 1003972 832650 11435093 19168633 640065 822273 0 0 8201109 8338004 0 0 861598 3438407 4076160 12279581 13236437 -844488 5932196 66893539 66516568 2485732 2687064 64407807 63829504 X DRIVE PROGRESS TOWARDS IMPROVED HEALTH THROUGH ATTAINING HEALTH EQUITY. 0 0 2138130 54047 0 CENTER FOR EVALUATION AND APPLIED RESEARCH - SEE SCHEDULE O.THE CENTER FOR EVALUATION AND APPLIED RESEARCH (CEAR) PARTNERS WITH COMMUNITY ORGANIZATIONS, HEALTH DEPARTMENTS, PHILANTHROPIC ORGANIZATIONS, HEALTHCARE PROVIDERS AND OTHER RESEARCHERS TO 1) PLAN, ASSESS AND STRENGTHEN PROGRAMS FOCUSED ON HEALTH AND WELL-BEING; 2) INCORPORATE COMMUNITY PERSPECTIVES INTO PROGRAM DEVELOPMENT, PROGRAM ASSESSMENT AND DECISION-MAKING; AND 3) BUILD AND DISSEMINATE EVIDENCE ON STRATEGIES TO IMPROVE HEALTHCARE AND RELATED SERVICES TO ADDRESS THE STRUCTURAL, SOCIAL, ECONOMIC AND ENVIRONMENTAL FACTORS THAT IMPACT HEALTH, INCLUDING RACISM AND OTHER INEQUITIES. CEAR ALSO PROVIDES RESEARCH AND EVALUATION TRAINING AND TECHNICAL ASSISTANCE TO ORGANIZATIONS AND INSTITUTIONS WITH THE AIM OF BUILDING INTERNALCAPACITY TO SELF-ASSESS THEIR WORK, BETTER DOCUMENT ACCOMPLISHMENTS, IMPROVE PROGRAMS, AND RESPOND TO COMMUNITY NEEDS. CEAR RESEARCHERS HAVE EXPERTISE IN BOTH QUALITATIVE AND QUANTITATIVE METHODS, AS WELL AS PARTICIPATORY RESEARCH METHODS, INCLUDING PUBLIC DELIBERATION. CEAR ACCOMPLISHMENTS IN 2023 INCLUDE IMPLEMENTATION OF APPROXIMATELY 30 RESEARCH, EVALUATION AND TECHNICAL ASSISTANCE PROJECTS; COMPLETION OF SEVEN RESEARCH AND EVALUATION REPORTS FOR PROJECT PARTNERS; SUBMISSION OF THREE PEER REVIEWED MANUSCRIPTS, TWO OF WHICH HAVE BEEN PUBLISHED TO DATE; AND FIVE PRESENTATIONS AT TWO PROFESSIONAL PUBLIC HEALTH CONFERENCES. CEAR ADDITIONALLY DEVELOPED TWO PUBLICLY AVAILABLE INFOGRAPHICS FOR HEALTHY START PROGRAMS IN THE BRONX AND QUEENS FOR WHICH CEAR WAS AN INDEPENDENT EVALUATOR AND PUBLISHED A NYAM REPORT ON RACE AND ETHNICITY DATA COLLECTION IN HEALTHCARE SETTINGS AS PART OF A COLLABORATION WITH NYU'S GROSSMAN SCHOOL OF MEDICINE. THE INFOGRAPHICS AND REPORT ARE AVAILABLE ON THE NYAM WESBITE.BELOW ARE SEVERAL EXAMPLES OF 2023 CEAR PROJECTS:- EVALUATION SERVICES FOR WORKWELL NYC, A WORKSITE WELLNESS INITIATIVE OF THE MAYOR'S OFFICE OF LABOR RELATIONS, AVAILABLE TO ALL EMPLOYEES OF NYC MUNICIPAL AGENCIES. WORKING IN COLLABORATION WITH WORKWELL NYC STAFF, CEAR SUPPORTS EVALUATION AND REFINEMENT OF THE PROGRAM THROUGH SURVEYS, FOCUS GROUPS, AND TECHNICAL ASSISTANCE TO INCREASE STAFF CAPACITY REGARDING PROGRAM EVALUATION AND THE APPLICATION OF EVALUATION FINDINGS. - EVALUATION OF EXHALE, A RESPITE INITIATIVE CREATED TO SUPPORT THE DEVELOPMENT AND IMPLEMENTATION OF INNOVATIVE RESPITE OPPORTUNITIES FOR CAREGIVERS OF OLDER ADULTS. FUNDED BY THE RALPH C. WILSON, JR. FOUNDATION, THE HEALTH FOUNDATION FOR WESTERN & CENTRAL NEW YORK AND THE ANN ARBOR AREA COMMUNITY FOUNDATIONAND WORKING IN COLLABORATION WITH THE PHILANTHROPIC INITIATIVETHE PROGRAM IS FOCUSED ON WESTERN NEW YORK STATE AND WASHTENAW COUNTY, MICHIGAN. CEAR IS EVALUATING THE OVERALL INITIATIVE AND PROVIDES ONGOING EVALUATION SUPPORT TO EXHALE GRANTEES, WORKING COLLABORATIVELY WITH STAKEHOLDERS TO MEET THE EVOLVING NEEDS AND PRIORITIES OF THE PROGRAM.- EVALUATION OF THE NEW YORK CITY HOUSING AUTHORITY (NYCHA) FAMILY SELF- SUFFICIENCY (FSS) PROGRAM. FUNDED BY THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD), FSS IS AN ASSET-BUILDING, RENT-INCENTIVE PROGRAM FOR SECTION 8 RESIDENTS THAT AIMS TO INCREASE ECONOMIC SECURITY IN LOW-INCOME HOUSEHOLDS THROUGH EDUCATION, JOB TRAINING AND EMPLOYMENT SUPPORT. IN 2023, NYCHA AND THE PUBLIC HOUSING COMMUNITY FUND SELECTED CEAR TO CONDUCT A TWO-YEAR, MIXED-METHODS EVALUATION WITH BOTH PROCESS AND OUTCOME COMPONENTS, INCLUDING AN ASSESSMENT OF BARRIERS TO AND FACILITATORS OF PROGRAM IMPLEMENTATION, PARTICIPANT ENGAGEMENT AND RETENTION, PERCEIVED QUALITY OF PROGRAMMING AND SERVICES, AND EDUCATIONAL AND ECONOMIC PROGRAM OUTCOMES. CEAR IS ALSO CONDUCTING LANDSCAPE ANALYSIS FOCUSED ON IMPLEMENTATION STRATEGIES AMONG OTHER HUD-FUNDED FSS PROGRAMS AROUND THE COUNTRY. NYCHA, THE LARGEST PUBLIC HOUSING AUTHORITY IN THE US, AIMS TO USE RESULTS FROM THE EVALUATION AND LANDSCAPE ANALYSIS TO IMPROVE AND ADAPT THEIR FSS PROGRAM TO REACH MORE SECTION 8 RESIDENTS, INCREASE RETENTION, AND IMPROVE SERVICES AND OUTCOMES FOR PROGRAM PARTICIPANTS. 1936642 359449 0 COMMUNITY PARTNERSHIPS AND POLICY SOLUTIONS - SEE SCHEDULE O.THE CENTER FOR COMMUNITY PARTNERSHIPS AND POLICY SOLUTIONS (CPPS) PARTNERS WITH RESIDENTS, COMMUNITY LEADERS, AND DECISION-MAKERS TO IDENTIFY INNOVATIVE POLICY SOLUTIONS. WE ACTIVELY WORK WITH OUR PARTNERS TO ALIGN AND SHAPE THE ACTIONS OF GOVERNMENT AND INDUSTRY TO SERVE THE COMMUNITY BETTER, RECOGNIZE AND AMPLIFY ITS ASSETS, AND TRANSFORM THE PLACES WHERE WE LIVE, WORK, PLAY, AND LEARN INTO ENVIRONMENTS THAT PROMOTE HEALTH FOR ALL. AS A TRUSTED CONVENER AND FACILITATOR, WE WORK TO HONOR AND AMPLIFY THE VOICES OF PEOPLE WITH LIVED EXPERIENCES OF HEALTH INEQUITIES AND BRIDGE CONNECTIONS BETWEEN COMMUNITIES, GOVERNMENT, THE HEALTHCARE SYSTEM, AND OTHER STAKEHOLDERS. WE ALSO DEVELOP AND IMPLEMENT AWARD-WINNING, PLACE-BASED PROGRAMS AND CONDUCT RESEARCH TO INFORM SPECIFIC POLICY CHANGES. THESE INITIATIVES ADDRESS SOME OF THE MOST CRITICAL HEALTH EQUITY ISSUES OF OUR TIME.IN 2023, CPPS INITIATED A COLLABORATION WITH THE NEW YORK CITY DEPARTMENT OF HEALTH AND MENTAL HYGIENE IN THE COALITION TO END RACISM IN CLINICAL ALGORITHMS (CERCA). THROUGH THIS MULTI-YEAR INITIATIVE, CPPS IS PARTNERING WITH SAFETY-NET HOSPITALS ACROSS THE CITY TO EXAMINE THE IMPACT OF REMOVING PATIENT RACE FROM CLINICAL ALGORITHMS ON PATIENT OUTCOMES. CPPS ALSO CONTINUED AND EXTENDED ONGOING RESEARCH AND PROGRAMMING PARTNERSHIPS INCLUDING: 1) THE EAST HARLEM ACTION COLLABORATIVE, A COMMUNITY GROUP THAT ENGAGES IN ADVOCACY AND AWARENESS CAMPAIGNS TO IMPROVE CHILD AND FAMILY HEALTH IN EAST HARLEM; 2) THE MENTORING PROGRAM, THROUGH WHICH, NYAM PROVIDES FUNDING TO MENTORS ACROSS NYC TO SUPPORT THEIR PROVISION OF MENTORING SERVICES TO YOUTH IN VULNERABLE CONTEXTS, AND NYAM MEASURES THE IMPACT OF THESE SERVICES; 3) THE AGE-FRIENDLY GO LOCAL PROGRAM, THROUGH WHICH CPPS PARTNERS WITH THE HEALTH FOUNDATION FOR WESTERN AND CENTRAL NEW YORK TO ADMINISTER A GRANT PROGRAM AND PROVIDE TECHNICAL ASSISTANCE TO GRASSROOTS ORGANIZATIONS DEVELOPING AGE-FRIENDLY COMMUNITIES; 4) THE AGE-FRIENDLY PUBLIC HEALTH SYSTEMS INITIATIVE EVALUATION, IN WHICH CPPS CONTINUES ITS EVALUATION OF NATIONAL, STATE, AND LOCAL-LEVEL EFFORTS IN ITS THIRD PHASE TO SUPPORT CAPACITY BUILDING FOR PUBLIC HEALTH AND THE IMPROVEMENT OF THE HEALTH AND WELL-BEING OF OLDER ADULTS; AND 5) FOUNDATION FUNDED RESEARCH ON THE EARLY CHILDHOOD WORKFORCE. 1452914 15068 33941 THE ACADEMY LIBRARY - SEE SCHEDULE O.THE ACADEMY ACADEMY LIBRARY BEGAN OPERATIONS IN JANUARY 1847, AS PART OF THE NEWLY ESTABLISHED NEW YORK ACADEMY OF MEDICINE. IN 1878 THE LIBRARY OPENED TO THE PUBLIC, AS IT REMAINS TODAY. IN THE LATE 19TH CENTURY, THE LIBRARY BEGAN COLLECTING RARE AND HISTORICAL WORKS IN MEDICINE. TODAY THE COLLECTIONS COMPRISE OVER A MILLION ITEMS: OVER 550,000 VOLUMES OF BOOKS AND JOURNALS, INCLUDING A RARE BOOK COLLECTION OF APPROXIMATELY 32,000 VOLUMES; 275,000 PORTRAITS AND ILLUSTRATIONS; APPROXIMATELY 400,000 PAMPHLETS; AND OVER 1,800 LINEAR FEET OF MANUSCRIPTS AND ARCHIVES. IN 2012, THE LIBRARY RESTRUCTURED AS AN HISTORICAL MEDICAL LIBRARY. THE LIBRARY RETAINS THE MEDICAL LITERATURE IT ACQUIRED OVER 175 YEARS OF SERVICE, AND NOW FOCUSES ITS COLLECTING ON RARE AND HISTORICAL WORKS IN MEDICINE AND PUBLIC HEALTH, AS WELL AS HISTORICAL LITERATURE IN THOSE AREAS. IT SERVES RESEARCHERS WITH MATERIALS FROM OUR COLLECTIONS; SUPPORTS TWO RESEARCH FELLOWSHIPS, THE AUDREY AND WILLIAM H. HELFAND FELLOWSHIP IN THE HISTORY OF MEDICINE AND PUBLIC HEALTH, AND THE PAUL KLEMPERER FELLOWSHIP IN THE HISTORY OF MEDICINE; PROVIDES VISITORS AND CLASSES WITH TOURS OF THE COLLECTIONS AND THE HISTORIC BUILDING; MOUNTS HISTORICAL PROGRAMS; AND SHARES ITS INSIGHTS THROUGH SOCIAL MEDIA AND THE LIBRARY BLOG. THE LIBRARY'S 2023 PROGRAMMING CONTINUED EXISTING PATTERNS AND BEGAN NEW ONES. WE HELD THE "CELEBRATION OF THE LIBRARY" ON NOVEMBER 29, WELCOMING FRIENDS AND COLLEAGUES TO THE ACADEMY. OUR EVENT CENTERED ON COMMEMORATING THE AIDS EPIDEMIC: WE DISPLAYED A PANEL OF THE AIDS QUILT AS WELL AS AIDS-RELATED ITEMS FROM THE COLLECTION, AND HAD A PRESENTATION FROM DR. DAVID VLAHOV, WHO HEADED NYAM'S CENTER FOR URBAN EPIDEMIOLOGICAL STUDIES DURING THE EPIDEMIC. PREVIOUS LECTURE SERIES CONTINUED WITH THE ANNUAL BIBLIOGRAPHY WEEK LECTURE ON JANUARY 28: MARY FISSELL SPEAKING ON THE AUDIENCES FOR THE 17TH-CENTURY SEX AND REPRODUCTION MANUAL, ARISTOTLE'S MASTERPIECE; AND, IN COLLABORATION WITH THE HEBERDEN SOCIETY OF WEILL CORNELL MEDICINE: WANGUI MUIGAI ON "INFANT MORTALITY, RACE, AND THE AMERICAN ROOTS OF A HEALTH INEQUALITY," JANUARY 18, AND AYAH NURIDDIN ON "SEED AND SOIL: BLACK EUGENIC THOUGHT IN THE NINETEENTH AND TWENTIETH CENTURIES," NOVEMBER 7. WE MOUNTED "COLOR OUR COLLECTIONS" IN THE FIRST WEEK OF FEBRUARY, PUTTING UP COLORING BOOKS FROM 92 LIBRARIES, ARCHIVES, MUSEUMS, AND CULTURAL INSTITUTIONS FROM AROUND THE WORLD. THE LIBRARY'S OWN COLORING BOOK WAS FOCUSED ON "CLIMATE AND HEALTH," REFLECTING THE PRIORITIES OF THE ACADEMY'S NEW PRESIDENT. ON JUNE 13 WE PARTICIPATED IN THE ANNUAL MUSEUM MILE FESTIVAL ON FIFTH AVENUE, AND ON OCTOBER 22, IN OPEN HOUSE NEW YORK, OFFERING TOURS OF THE ACADEMY BUILDING IN CONNECTION WITH THE CITY-WIDE ARCHITECTURAL EVENT. WE OFFERED TEN DROP-IN THEME-BASED PRESENTATIONS OF THE COLLECTIONS ON THE FIRST MONDAY OF EACH MONTH AT NOON. THE LIBRARY'S BLOG, "BOOKS, HEALTH, AND HISTORY," POSTED FIFTEEN ARTICLES IN 2023, INCLUDING POSTS ON STUDENT CLASS VISITS TO THE LIBRARY AND ON THE AIDS QUILT. NEW VENTURES INCLUDED THE NOVEMBER 2 SCREENING OF "DE HUMANI CORPORIS FABRICA," A 2022 DOCUMENTARY FILM THAT INVESTIGATED LIFE AND WORK IN FIVE FRENCH HOSPITALS. WITH NYAM'S CENTER FOR HEALTHY AGING WE CO-PRESENTED "NAT, NORCS, AND NEW YORK: NATURALLY OCCURRING RETIREMENT COMMUNITIES IN NYC THROUGH THE LENS AND LIFE OF NAT YALOWITZ," ON MAY 22.WE WERE HONORED TO HAVE SEVEN OF THE LIBRARY'S BOOKS ON COOKERY, DATED 1581 TO 1766, FEATURED IN THE BARD GRADUATE CENTER GALLERY EXHIBIT, "STAGING THE TABLE IN EUROPE, 15001800," ON DISPLAY FROM FEBRUARY 17 THROUGH JULY 9. AT THE END OF 2023, THE LIBRARY ACHIEVED TWO MILESTONES IN ITS DIGITIZATION EFFORTS. WE MADE FINAL CORRECTIONS TO AN EARLIER PROJECT, RECIPES AND REMEDIES, DIGITIZING ELEVEN ENGLISH-LANGUAGE COOKBOOKS FROM THE 17TH TO THE 19TH CENTURIES. WE COMPLETED OUR WORK ON A MULTI-YEAR JOINT PROJECT WITH GALE/CENGAGE, DISABILTIES AND SOCIETY, SEVENTEENTH TO TWENTIETH CENTURY, DIGITIZING SEVERAL THOUSAND ITEMS FROM THE COLLECTIONS. 3309972 393709 1349961 OTHER PROGRAM SERVICES. 3309972 393709 1349961 8837658 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 60 0 130 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 AR CA FL GA IL KY MA MD MI NC NH NM NJ NY PA RI TN VA X X X ANDREA CHOI 2128227222 1216 FIFTH AVENUE NEW YORK NY 100295205 ANN KURTH PRESIDENT 40.00 X X 650154 0 69053 WAYNE J RILEY MD CHAIR 1.00 X X 0 0 0 JAMES FLYNN MS CHAIR EMERITUS/TREASURER 1.00 X X 0 0 0 MARK L WAGAR VICE CHAIR 1.00 X X 0 0 0 GIL ADDO MBA TRUSTEE 1.00 X 0 0 0 CHARLES N BERTOLAMI DDS TRUSTEE 1.00 X 0 0 0 NATALIA CINEAS DNP TRUSTEE 1.00 X 0 0 0 JOHN DAMONTI MSW TRUSTEE 1.00 X 0 0 0 MARTINE FERLAND TRUSTEE 1.00 X 0 0 0 ELSA-GRACE V GIARDINA MD TRUSTEE 1.00 X 0 0 0 JULIA IYASERE MD TRUSTEE 1.00 X 0 0 0 MARK N KAPLAN ESQ TRUSTEE 1.00 X 0 0 0 JENNIFER H MIERES MD TRUSTEE 1.00 X 0 0 0 BETH OLIVER DNP TRUSTEE 1.00 X 0 0 0 PHILIP O OZUAH MD TRUSTEE 1.00 X 0 0 0 ELENA RIOS MD TRUSTEE 1.00 X 0 0 0 MARIE-LAURE ROMNEY MD TRUSTEE 1.00 X 0 0 0 JANIS SMITH-GOMEZ TRUSTEE 1.00 X 0 0 0 PAUL P TANICO JD TRUSTEE 1.00 X 0 0 0 JANINE VERSI MBA TRUSTEE 1.00 X 0 0 0 BARBARA A GREEN EX-OFFICIO 1.00 X 0 0 0 ASHWIN VASAN MD EX-OFFICIO 1.00 X 0 0 0 FREDA K GIMPEL SVP FINANCE & ADMINISTRATION THRU JUN 2023 40.00 X 182621 0 28901 ANDREA CHOI SVP FINANCE & ADMINISTRATION AS OF JUN 2023 40.00 X 166658 0 28850 LORI FRANK SVP RESEARCH 40.00 X 309945 0 49957 MIGUEL A PEREZ SVP PUBLIC ENGAGEMENT 40.00 X 306786 0 78528 STEPHEN W PAUL DIRECTOR, FINANCE 40.00 X 188441 0 52973 PAUL H THEERMAN DIRECTOR, LIBRARY 40.00 X 193014 0 18819 GINA RAVOSA DIRECTOR, COMMUNICATIONS 40.00 X 171382 0 29416 JACQUELINE BONILLA DE MONTERO DIRECTOR, HUMAN RESOURCES 40.00 X 160016 0 45754 CAROLYN BELLO ASS. DIRECTOR OF FINANCE 40.00 X 133180 0 17371 SEJAL GANDHI DIRECTOR, EDU. & CONFERENCE CENTER 40.00 X 171337 0 22730 2633534 0 442352 22 0 1 0 PPM RESTORATION 11 SEVENTH STREET SUITE 1B PELHAM NY 10803 CONSTRUCTION 625460 THE TURBO CHYLL COMPANY 131 ENGINEERS DRIVE HICKSVILLE NY 11801 HVAC SERVICES 236448 CUSHMAN & WAKEFIELD INC 1290 AVENUE OF THE AMERICAS NEW YORK NY 10104 REAL ESTATE AGENCY SERVICES 235000 MINERVA PROTECTION & RISK SOLUTIONS LLC 244 5TH AVENUE SUITE C 264 NEW YORK NY 10001 SECURITY SERVICES 201392 PACHYDERM CONSULTING 70 WEST 40TH STREET 8TH FLOOR NEW YORK NY 10018 INFORMATION TECHNOLOGY 146742 7 830003 1421385 1863884 4115272 EDUCATION CONFERENCE CENTER FEES 611430 1235803 1167118 68685 MEMBERSHIP DUES & ASSESSMENTS 900099 177243 177243 LIBRARY FEES 541900 33941 33941 OTHER PROGRAM SERVICE FEES 900099 5600 5600 1452587 1655185 -3012 1658197 206609 206609 427914 0 427914 427914 427914 57354621 2333025 48574707 0 8779914 2333025 11112939 -49 11112988 63936 830003 130543 -66607 -66607 COMMISSION INCOME 541990 141395 141395 ADMINISTRATION FEES 900099 85431 85431 MISCELLANEOUS 900099 37908 37908 264734 19168633 1383902 65624 13603835 385500 385500 436773 436773 2112867 947602 850318 314947 4814515 3316930 1191788 305797 186696 107416 49996 29284 702458 530781 143379 28298 521468 324732 151146 45590 111015 78311 29252 3452 69325 19019 46910 3396 37358 37358 1035190 585351 417224 32615 3251 3251 162769 111527 37638 13604 201840 75850 124416 1574 336358 306086 23545 6727 52810 22686 27384 2740 115040 94431 12228 8381 698910 637198 46288 15424 156909 156909 REPAIRS & MAINTENANCE 613218 555045 47362 10811 RECRUITMENT 217995 67781 124936 25278 BAD DEBTS 117538 117538 ADMINISTRATION FEES 91367 91200 91 76 55267 22650 19013 13604 13236437 8837658 3537181 861598 335885 662958 26000 14812210 1945682 1228480 117457 89941 41380 78505 19547506 12515015 6989288 7032491 56942387 42366568 357625 108968 137835 136447 66893539 66516568 686445 654782 397000 405500 108654 166000 1293633 1460782 2485732 2687064 X 34333909 35673155 30073898 28156349 64407807 63829504 66893539 66516568 X 5932196 -6509111 -1388 X X 0 1 X 1 0 X 6022363 6035772 6106933 5717169 4115272 27997509 6022363 6035772 6106933 5717169 4115272 27997509 884829 27112680 2533063 1853626 2242079 2067901 2292720 10989389 321031 228210 71151 403826 264734 1288952 40275850 6452475 0.67320 0.66470 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 16,303. 2020 AMOUNT: $ 65,014. 2022 AMOUNT: $ 87,689. 2023 AMOUNT: $ 37,908. COMMISSION INCOME - 2019 AMOUNT: $ 189,242. 2020 AMOUNT: $ 56,115. 2021 AMOUNT: $ 14,929. 2022 AMOUNT: $ 157,558. 2023 AMOUNT: $ 141,395. ADMINISTRATION FEES - 2019 AMOUNT: $ 115,486. 2020 AMOUNT: $ 107,081. 2021 AMOUNT: $ 56,222. 2022 AMOUNT: $ 78,102. 2023 AMOUNT: $ 85,431. REFUNDS - 2022 AMOUNT: $ 46,154. INSURANCE CLAIMS - 2022 AMOUNT: $ 34,323. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 21569808 789176 702107 21656877 24244318 -2072785 601725 21569808 23383796 1543565 683043 24244318 23041490 5000 1356788 969482 50000 23383796 21821750 7044 2015699 170463 531532 101008 23041490 0.00000 0.52976 0.47024 0 0 284261 284261 15056149 9485411 5570738 1421725 875229 546496 2785371 2154375 630996 7032491 DEFERRED COMPENSATION 1460782 1460782 X 12620776 -6509111 -6509111 19129887 37358 1388 38746 19168633 13199079 0 13199079 37358 37358 13236437 PART III, LINE 1A: THE ACADEMY HAS A COLLECTION OF VARIOUS PURCHASED AND DONATED MATERIALS, INCLUDING BOOKS AND ARTIFACTS. THIS COLLECTION IS MAINTAINED BY THE ACADEMY UNDER CURATORIAL CARE AND IS HELD FOR RESEARCH, EDUCATION, AND PUBLIC EXHIBITION IN FURTHERANCE OF PUBLIC SERVICE. IN ACCORDANCE WITH NOT-FOR-PROFIT INDUSTRY PRACTICE, THE COSTS AND VALUES OF THE ITEMS IN THE COLLECTION HAVE NOT BEEN CAPITALIZED AND ARE NOT REPORTED IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION. PART III, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF 40 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THESE FUNDS ARE USED FOR THE SUPPORT OF THE LIBRARY AND HISTORY OF MEDICINE PROGRAMS AND LECTURES, AWARD PROGRAMS IN VARIOUS MEDICAL DISCIPLINES, LECTURES AND SEMINARS IN THE FURTHERANCE OF KNOWLEDGE, STUDY AND RESEARCH BY MEDICAL PROFESSIONALS AS WELL AS THE PUBLIC AT LARGE. IN ADDITION, SOME ENDOWMENT FUND INCOME HAS BEEN DESIGNATED BY DONORS FOR USE IN SUPPORT OF GENERAL OPERATIONS. PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF 40 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THESE FUNDS ARE USED FOR THE SUPPORT OF THE LIBRARY AND HISTORY OF MEDICINE PROGRAMS AND LECTURES, AWARD PROGRAMS IN VARIOUS MEDICAL DISCIPLINES, LECTURES AND SEMINARS IN THE FURTHERANCE OF KNOWLEDGE, STUDY AND RESEARCH BY MEDICAL PROFESSIONALS AS WELL AS THE PUBLIC AT LARGE. IN ADDITION, SOME ENDOWMENT FUND INCOME HAS BEEN DESIGNATED BY DONORS FOR USE IN SUPPORT OF GENERAL OPERATIONS. PART X, LINE 2: NYAM IS SUBJECT TO THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, AS IT RELATES TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. FOR NYAM, ASC TOPIC 740 IS POTENTIALLY APPLICABLE TO THE INCURRENCE OF UNRELATED BUSINESS INCOME ("UBI"), ATTRIBUTABLE TO CERTAIN ALTERNATIVE INVESTMENTS, CONFERENCE CENTER EVENTS AND COMMISSIONS, AND SPONSORSHIP FEES NOT RELATED TO NYAM'S MISSION. NONETHELESS, BECAUSE OF NYAM'S GENERAL TAX-EXEMPT STATUS, MANAGEMENT BELIEVES THAT ASC TOPIC 740 HAS NOT HAD, AND IS NOT EXPECTED TO HAVE, A MATERIAL IMPACT ON NYAM'S FINANCIAL STATEMENTS. NYAM IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE OF PERPETUAL TRUST 1,388. GALA 2023 893939 830003 63936 57157 5478 67908 893939 830003 63936 57157 5478 67908 130543 -66607 1 ARDENT SOLUTIONS INC 85 NORTH MAIN STREET WELLSVILLE NY 14895 342030783 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS BISHOP'S COMMONS INC 4 BURKLE STREET OSWEGO NY 13126 161559449 501(C)(3) 7500 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS BLUEPRINT 15 INC 100 NEW STREET SYRACUSE NY 13202 833283784 501(C)(3) 10000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS CENTERSTATE CEO FOUNDATION - FULTON BLOCK BUILDERS 115 WEST FAYETTE STREET SYRACUSE NY 13202 222305294 501(C)(3) 19740 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS COMMUNITY HEALTH CENTER OF BUFFALO INC 34 BENWOOD AVENUE BUFFALO NY 14214 161566929 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS ELDERLIFE INC DBA 50 FORWARD MOWHAWK VALLEY 220 MEMORIAL PARKWAY UTICA NY 13501 161557404 501(C)(3) 10000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS GLOW YOUNG MENS CHRISTIAN ASSOCIATION INC 209 EAST MAIN STREET BATAVIA NY 14020 160743230 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS GRASSROOTS GARDENS OF WESTERN NEW YORK 389 BROADWAY STREET BUFFALO NY 14204 161479159 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS GREEN OPTIONS BUFFALO - GO BIKE BUFFALO 313 BROADWAY BUFFALO NY 14204 272501533 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS HERITAGE MINISTRIES MANAGEMENT COMPANY INC PO BOX 350 GERRY NY 14740 261590078 501(C)(3) 10000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS HERKIMER COUNTY RURAL HEALTH NETWORK INC 320 NORTH MAIN STREET SUITE 3200 HERKIMER NY 13350 161573995 501(C)(3) 10000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS INTERFAITH WORKS OF CENTRAL NEW YORK INC 1010 JAMES STREET SYRACUSE NY 13203 161064233 501(C)(3) 7500 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS JAMESTOWN RENAISSANCE CORPORATION 200 EAST THIRD STREET JAMESTOWN NY 14701 300413862 501(C)(3) 15000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS MADISON COUNTY RURAL HEALTH COUNCIL INC 2662 US ROUTE 20 UNIT 1 PO BOX 430 CAZENOVIA NY 13035 462603272 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS MAKE THE ROAD NEW YORK 301 GROVE STREET BROOKLYN NY 11237 113344389 501(C)(3) 53333 0 EXAMINE PRACTICES RELATED TO INCOME AND FOOD SECURITY FOR LOW-INCOME LATINX IMMIGRANT FAMILIES. NET POSITIVE INC - THE FOUNTRY 298 NORTHAMPTON STREET BUFFALO NY 14208 462666977 501(C)(3) 20000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS SAGE-UPSTATE 431 EAST FAYETTE STREET SYRACUSE NY 13202 161540763 501(C)(3) 7500 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS SYRACUSE NORTHEAST COMMUNITY CENTER INC 716 HAWLEY AVENUE SYRACUSE NY 13203 161116632 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS SYRACUSE COMMUNITY HEALTH CENTER INC - WOMEN OF PEARLS 819 SOUTH SALINA SYRACUSE NY 13202 161080039 501(C)(3) 25000 0 TO BUILD AGE-FRIENDLY NEIGHBORHOODS 19 0 AWARDS 5 9334 FELLOWSHIPS 8 319590 HONORARIA 5 6659 STIPENDS 22 101190 PART I, LINE 2: AWARDS MADE TO OTHER ORGANIZATIONS ARE MANAGED AS FOLLOWS: A CALL FOR PROPOSAL IS MADE. ONCE PROPOSALS ARE RECEIVED FROM POTENTIAL RECIPIENTS, A COMMITTEE REVIEWS THE PROPOSALS AND MAKES DECISIONS ON WHO WILL BE FUNDED. THE ACADEMY ISSUES AWARD LETTERS WHICH OUTLINE THE TERMS AND CONDITIONS OF THE AWARD (INCLUDING REPORTING REQUIREMENTS - FINANCIAL AND PROGRAMMATIC) AND ASKS THAT THE LETTER BE SIGNED AND RETURNED. SUBCONTRACTS ON FEDERAL GRANTS ARE MONITORED UNDER THE GUIDELINES SET FORTH IN THE UNIFORM GUIDANCE BY THE ORGANIZATION'S DIRECTOR OF GRANTS MANAGEMENT. IN ADDITION, THE DIRECTOR REQUESTS A COPY OF THE SUBCONTRACTORS' REPORTS UNDER THE UNIFORM GUIDANCE, TO MONITOR AUDIT FINDINGS AS WELL AS THE SCHEDULE OF EXPENDITURES FOR REPORTING OF PASS-THROUGH FEDERAL FUNDING IT RECEIVED FROM THE ACADEMY. FUNDS ARE AWARDED TO OTHER ENTITIES ACCORDING TO VARYING CIRCUMSTANCES WITH DIFFERING MONITORING/ACCOUNTABILITY PROCEDURES, AS LISTED BELOW: 1) INDIVIDUAL CONSULTANTS ARE PAID BASED ON TIMESHEETS SUBMITTED THAT INDICATE WORK COMPLETED DURING THE TIME PERIOD; 2) SERVICES (E.G., TRANSLATION AND TRANSCRIPTION) ARE INVOICED WHEN THE SERVICE HAS BEEN COMPLETED, AND 3) CONTRACTS WITH COMMUNITY BASED ORGANIZATIONS INCLUDE A SCOPE OF WORK. PAYMENT IS MADE WHEN THE SCOPE IS COMPLETE PRODUCT IS SUBMITTED TO US. AWARDS MADE TO INDIVIDUALS: FELLOWSHIP AND GRANT RECIPIENTS ARE REQUIRED TO SUBMIT PROGRESS REPORTS, AND GRANT RECIPIENTS ALSO PRESENT THEIR RESEARCH IN PERSON AT THE CONCLUSION OF THEIR WORK. X X X 0 0 0 0 0 0 0 0 0 ANN KURTH PRESIDENT 644891 0 0 0 5263 0 54300 0 14753 0 719207 0 0 0 MIGUEL A PEREZ SVP PUBLIC ENGAGEMENT 306528 0 0 0 258 0 49947 0 28581 0 385314 0 0 0 LORI FRANK SVP RESEARCH 309687 0 0 0 258 0 49313 0 644 0 359902 0 0 0 STEPHEN W PAUL DIRECTOR, FINANCE 188045 0 0 0 396 0 18275 0 34698 0 241414 0 0 0 PAUL H THEERMAN DIRECTOR, LIBRARY 191778 0 0 0 1236 0 17170 0 1649 0 211833 0 0 0 FREDA K GIMPEL SVP FINANCE & ADMINISTRATION THRU JUN 2023 182208 0 0 0 413 0 21095 0 7806 0 211522 0 0 0 JACQUELINE BONILLA DE MONTERO DIRECTOR, HUMAN RESOURCES 159878 0 0 0 138 0 15730 0 30024 0 205770 0 0 0 GINA RAVOSA DIRECTOR, COMMUNICATIONS 170986 0 0 0 396 0 15812 0 13604 0 200798 0 0 0 ANDREA CHOI SVP FINANCE & ADMINISTRATION AS OF JUN 2023 161759 0 0 0 4899 0 25141 0 3709 0 195508 0 0 0 SEJAL GANDHI DIRECTOR, EDU. & CONFERENCE CENTER 171199 0 0 0 138 0 10870 0 11860 0 194067 0 0 0 CAROLYN BELLO ASS. DIRECTOR OF FINANCE 133180 0 0 0 0 0 12227 0 5144 0 150551 0 0 0 FORM 990, PART I, LINE 5, AND PART V, LINE 2A: DURING 2023, THE ORGANIZATION STARTED USING A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) AND RECEIVED TWO SETS OF 2023 FORM W-2S. THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. FORM 990, PART VI, SECTION A, LINE 6 THE ACADEMY HAS THREE CLASSES OF FELLOWS (MEMBERS); RESIDENT, NON-RESIDENT AND HONORARY. ALL CLASSES OF FELLOWS ARE VOTING MEMBERS. THE BOARD OF TRUSTEES MAY FROM TIME TO TIME ELECT HONORARY FELLOWS TO BE TRUSTEES OR OFFICERS OF THE ACADEMY. FORM 990, PART VI, SECTION A, LINE 7A IN ACCORDANCE WITH THE ACADEMY'S BY-LAWS THERE IS AN ANNUAL MEETING OF THE FELLOWS (MEMBERS) HELD ON SUCH DAY AS THE CHAIRMAN SHALL DESIGNATE FOR THE ELECTION OF TRUSTEES AND THE TRANSACTION OF OTHER BUSINESS. A PROXY STATEMENT IS SENT TO ALL FELLOWS PRIOR TO THEIR VOTE ON A SLATE OF PROPOSED NOMINEES FOR THE BOARD OF TRUSTEES. THIS NOTICE MUST STATE THE PLACE, DATE, AND HOUR OF THE ANNUAL MEETING SHALL BE GIVEN TO EACH VOTING FELLOW NOT LESS THAN TWENTY-ONE NOR MORE THAN FIFTY DAYS BEFORE THE DATE OF THE MEETING. SUCH NOTICE SHALL BE GIVEN IN WRITING, IN PERSON OR BY FIRST CLASS MAIL, ADDRESSED TO EACH VOTING FELLOW AT HIS OR HER ADDRESS AS IT APPEARS ON THE RECORDS OF THE ACADEMY, OR IF A VOTING FELLOW SHALL HAVE FILED WITH THE SECRETARY A WRITTEN REQUEST THAT NOTICES BE MAILED TO SOME OTHER ADDRESS, THEN TO SUCH ADDRESS. NOTICE BY MAIL SHALL BE DEEMED TO BE GIVEN WHEN DEPOSITED IN THE UNITED STATES MAIL, WITH POSTAGE PREPAID. FORM 990, PART VI, SECTION A, LINE 7B IN ACCORDANCE WITH THE ACADEMY'S BY-LAWS, AMENDMENT OR REPEAL OF THE BY-LAWS IS SUBJECT TO APPROVAL BY THREE-FOURTHS OF THE VOTES CAST AT ANY ANNUAL OR SPECIAL MEETING OF THE VOTING FELLOWS IN PERSON OR BY PROXY. FORM 990, PART VI, SECTION B, LINE 11B THE NEW YORK ACADEMY OF MEDICINE HAS ITS FORM 990 PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED, IT IS REVIEWED BY MANAGEMENT AND THEN THE AUDIT COMMITTEE OF THE BOARD WHO REVIEWS AND APPROVES IT SUBJECT TO DISTRIBUTION OF THE DRAFT TO THE FULL BOARD FOR REVIEW AND COMMENT. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE INDEPENDENT ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ACADEMY CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL TRUSTEES AND KEY EMPLOYEES, WHICH IT ANNUALLY MONITORS AND ENFORCES. THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION HAS RESPONSIBILITY FOR THE OVERSIGHT AND DISTRIBUTION OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. A QUESTIONNAIRE IS DISTRIBUTED TO AND COMPLETED ANNUALLY BY ALL TRUSTEES AND KEY EMPLOYEES IN ORDER TO ENSURE COMPLIANCE WITH THE POLICY. TRUSTEES MUST SUBMIT THE COMPLETED FORMS TO THE OFFICE OF BOARD AND FELLOWSHIP AFFAIRS. KEY EMPLOYEES MUST SUBMIT THE COMPLETED FORMS TO THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION REVIEWS THE COMPLETED FORMS AND PRESENTS THEM TO THE CHAIR OF THE AUDIT COMMITTEE. CONFLICTS OF INTEREST ARE DISCUSSED AT THE AUDIT COMMITTEE AND THE MINUTES DOCUMENT THE DISCUSSION AND PROPOSED RESOLUTION TO BE REPORTED TO THE EXECUTIVE COMMITTEE. IF A CONFLICT OF INTEREST EXISTS: - THE MAJORITY OF THE EXECUTIVE COMMITTEE MUST AGREE THAT THE RELATED PARTY TRANSACTION IS FAIR, REASONABLE AND IN NYAM'S BEST INTEREST AT THE TIME OF THE DETERMINATION, THAT USING AN ALTERNATIVE IS NOT TO NYAM'S BENEFIT AND THAT THE MATERIAL FACTS OF THE TRANSACTION ARE DISCLOSED IN ADVANCE; - THE DELIBERATIONS, INCLUDING DISCUSSION OF ALTERNATIVES, ARE DOCUMENTED IN THE MINUTES AND REPORTED TO THE BOARD OF TRUSTEES; - THE RELATED PARTY MAY NOT BE IN THE ROOM FOR THE DISCUSSION; AND - ANY TRUSTEE WHO WILL BENEFIT, DIRECTLY OR INDIRECTLY FROM A TRANSACTION IS NOT BE ELIGIBLE TO VOTE ON ANY ISSUE REGARDING THAT TRANSACTION AND SHALL NOT BE COUNTED TOWARD A QUORUM FOR SUCH A VOTE. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD'S EXECUTIVE COMMITTEE/ COMPENSATION COMMITTEE REVIEWS MARKET COMPENSATION, INCLUDING FORM 990S OF SIMILAR SIZES ORGANIZATIONS AND APPROVES THE PRESIDENT'S COMPENSATION. THE BOARD'S EXECUTIVE COMMITTEE CONSIDERATION OF THIS MATTER IS ALSO DOCUMENTED IN THE MINUTES OF THE EXECUTIVE SESSION. THIS PROCESS WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE BY-LAWS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO CONTRIBUTORS, SPONSORS, FINANCIAL INSTITUTIONS AND OTHER MEMBERS OF THE PUBLIC ARE ON THE ACADEMY'S WEBSITE ALONG WITH THE FORM 990 FEDERAL TAX RETURN AND THE ACADEMY'S ANNUAL REPORT. THE ANNUAL REPORT CONTAINS CONDENSED FINANCIAL INFORMATION AND IS AVAILABLE TO THE PUBLIC THROUGH THE ACADEMY'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PERPETUAL TRUST -1,388. FORM 990, PART XII, LINE 2C: NEW YORK ACADEMY OF MEDICINE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF ITS INDEPENDENT AUDITOR. THE PROCESS FOR SELECTION AND OVERSIGHT OF THE INDEPENDENT AUDITORS HAS NOT CHANGED SINCE LAST YEAR.