| Form 990, Part III, Line 1: |
ORGANIZATION'S MISSION The New School was born out of a commitment to academic freedom, tolerance, and experimentation. Our future will be shaped by the qualities that have defined our past: * Creativity, innovation, and challenging the status quo, both in terms of what and how we teach, and in the intellectual ambitions of the school itself; * Social engagement, orienting students' academic experience to help them become critically engaged citizens devoted to solving problems and contributing to the public good. Now as then, The New School must embrace these principles and innovate to address shifts in the global economy, society, and environment. These shifts require that individuals grapple with complex problems, lead more fluid and flexible careers, and collaboratively create change. MISSION STATEMENT We will prepare our students to understand, contribute to, and succeed in a rapidly changing society, and thus make the world a better and more just place. We will ensure that our students have not only the abilities that a sound liberal arts education provides, but also the creative competencies essential for success and leadership in the emerging creative society and economy. We will also lead in generating practical and theoretical knowledge that seeks to understand our world and improve both global and local society and the people who live within. VISION We are and will be a university where design and social research drive approaches to studying the issues of our time, such as democracy, urbanization, technology, economic empowerment, sustainability, migration, and globalization. We will be the intellectual and creative center for effective engagement in a world that increasingly demands better-designed objects, communication, systems, and organizations to meet social and human needs. Our vision corresponds with shifts in the global economy, society, and environment, which animate our mission. EDUCATIONAL APPROACH We will fulfill our mission by extending The New School's legacy as a non-traditional academic community, nimble and responsive to change, that will: * Focus on and engage contemporary critical issues. Prioritize the importance of humanity and culture in designing better systems and environments to improve the human condition, an approach that draws from design thinking and the liberal, creative, and performing arts. * Place project-based learning at the center of the learning experience. * Take full advantage of our New York City locus and connectivity to global urban centers. |
| Form 990, Part VI, Section B, line 11b |
990 REVIEW PROCESS The Audit and Risk Committee of the Board of Trustees has been delegated responsibility for reviewing the annual Form 990. Following the Audit and Risk Committee review, the 990 is distributed to the full Board of Trustees prior to its submission. |
| Form 990, Part VI, Section B, line 12c |
CONFLICT OF INTEREST PROCESS The New School's policy on conflicts of interest applies to all Board of Trustee members, the senior management, as well as certain designated staff and faculty. The policy recognizes that members of the university's Board of Trustees and senior management may, from time to time, be associated, either directly or indirectly, with companies doing business with the university. The policy prohibits members of the Board of Trustees or its committees, and senior managers of the university from participating in any decisions in which he or she (or an immediate family member) has a material financial interest. For members of the Board of Trustees and senior management, the university requires an annual disclosure of significant financial interest in, or employment or consulting relationships with, entities doing business with the university. When such relationships exist, measures are taken to address the actual or perceived conflict to protect the best interest of the university and ensure compliance with relevant conflict of interest laws. The policy also requires designated administrative and academic staff, and faculty to review the policy every year and provide to the Office of Human Resources a written certification that he/she is in compliance with the policy and which discloses any relationships that may represent a conflict of interest as defined by the letter or spirit of the university policy on conflicts of interest. In addition, the annual certification requires disclosure of any activities, including outside employment and professional relationships and/or transactions which might appear or actually involve a conflict of interest with one's fiduciary, employment, or other relationship with the university. |
| Form 990, Part VI, Section B, line 15 |
COMPENSATION REVIEW PROCESS The Compensation Committee of the Board of Trustees is comprised of members of the Executive Committee selected by the Chairman of the Board, and reviews and approves salaries and contracts for all deans, chiefs, and other officers prior to hire and for renewals and promotions. The foregoing shall include additional compensation and benefits for these deans, chiefs, and officers annually, such as housing allowances, bonuses, severance packages, or any proposed new benefits. The Committee is charged with assuring compliance with intermediate sanction procedures and requirements to the extent applicable to any compensation. The Committee also recommends the compensation (including salary, benefits, and other remuneration) of the President of the university to the Executive Committee for review and approval. Further, the Committee is charged with developing salary and benefits for incoming presidents and renewal of contracts for incumbent presidents for submission to the Executive Committee for approval. Additional duties of the Compensation Committee include reviewing compensation for comparable positions benchmarked against peer groups and hiring an executive compensation consultant on a regular basis. The Committee also reviews internal candidates proposed to serve as interim deans if needed, and annually reviews the list of university employees whose salaries categorize them as highly compensated individuals under IRS pension provisions. Additional authority and duties are conferred upon the Compensation Committee in accordance with the needs and initiatives of the Board. COMPENSATION REVIEW PROCESS FOR OFFICERS AND KEY EMPLOYEES As noted above, the Compensation Committee annually reviews the list of university employees whose salaries categorize them as highly compensated individuals under IRS pension provisions. The Compensation Committee conducted a review and approval of compensation as outlined above during tax year 2016. |
| Form 990, Part VI, Section C, line 19 |
PUBLIC INSPECTION The university makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Also, Federal Form 990, which includes financial and other disclosures, is available on Guidestar. |
| Form 990, Part XI, line 9: |
Change In Value Of Split Interest -266,665. Change In Postretirement Benefits 460,329. Loss on Debt Refinancing -47,383,913. Bad Debt (Contribution Write-Off) -689,711. |
| Form 990, Part XII, Line 2c: Audit Oversight: |
The organization's process for oversight of the audit, including compilation of its financial statements, and the selection of an independent auditor has not changed from the process followed in the prior year. |
Attach to Form 990 or 990-EZ.