Profile of New York Medical College
The New York Medical College is a private medical school located in Valhalla, NY. The College consists of three schools, namely the School of Medicine, the School of Health Sciences and Practice, and the Graduate School of Basic Medical Science. The majority of income is made via tuition, research grants, investments, and private contributions. As of 2016, there are over 1,400 students across the three schools. The School of Medicine is the most popular and reasons for joining given by students include a multicultural environment, diverse population, and hands-on experience. NYMC joined the Touro College University System in 2011.
Sources of Revenue
The main sources of revenue for NYMC are tuition and fees from the students, student loans, investments, affiliation contracts, government grants for research/sponsored projects, contributions and private grants, and investment returns.
The details of assets possessed by the New York Medical College was released in the annual financial statement. Student tuition, fees, and loans provided in most amount of income ($55,670,000 USD), followed by affiliation contracts ($27,200,000 USD), government grants ($20,271,000 USD), investment returns ($3,131,000 USD), and finally contributions and private grants ($2,646,000 USD).
The specifics of the grants and investments made are not available in the financial statement.
The New York Medical College is one of the most popular medical schools in the United States. It was ranked number 11 in the nation, specifically for research, and the second-best school in the New York State. In addition, the ranking has improved consistently over the last 10 years. The School of Medicine has earned national attention, especially from students, as it has "an emphasis on providing individualized education" and preparing students to meet the challenges that future physicians will face.
Other reasons for students attending the school include the culture that is present, as well as the number of resources that are available. The singular campus enables students to interact in a culturally and economically diverse community and offers a wide variety of opportunities in careers, residencies, and internships. NYMC also emphasizes hands-on experience with patients and prepares students for immediate success when in the school. The residency match rate for the School of Medicine is higher than the national average, reflecting this excellence.
All of these reasons influence students when choosing to attend on a combination may sway many to apply. In addition, the reputation of the school as a premier institution is certainly beneficial.
Relationship with Touro College
The Touro College and University System is one of the largest affiliations of medical and health education programs. Including NYMC, which joined in 2011, the system educates thousands of students in health, medicine, and the biological sciences every year.
The transition of the sole membership interest in NYMC from the Archdiocese of New York to Touro College was completed on May 25, 2011, and resulted in a new Board of Directors. The goal of the affiliation was to enhance the training of future physicians and also add an outstanding medical research institution to Touro College.
As part of the Touro College and University System, the New York Medical College is administered by the Touro College. They are part of the Touro system and so are considered a branch of the Touro college system, rather than an independent entity. The board of directors for NYMC is the same as that for Touro college; NYMC no longer has a board of its own. Because of this, the New York Medical College can be considered a distinct campus of the Touro College and University System.
The New York Medical College is one of the premier private medical schools in the United States of America. It is part of the Touro College and University System, which it joined in 2011. The college’s main sources of income are student tuition and fees, student loans, investments, government grants, affiliation contracts, traditions, and private grants.
It is popular among students because of the diversity present in the school, as well as the focus on hands-on experience that the college provides. The focus on individual education, as well as the premier reputation of the NYMC and the large amount of resources available to the faculty and students, are also enticing to prospective students.