2024-03-13T17:20:21-05:00 2023-06-30 390974031 WEGNER CPAS LLP 230 PARK AVE FL 3 NEW YORK NY 101690005 990 2022-07-01 223688043 BEN PORAT YOSEF INC BENP 2018455007 243 FRISCH COURT PARAMUS NJ 07652 HOWARD KESTENBAUM PRESIDENT 2018455007 2024-03-11 1 HOWARD KESTENBAUM 999009999 0 YIGIT UCTUM CPA P01269549 2125511724 2024-03-11 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z HOWARD KESTENBAUM 243 FRISCH COURT PARAMUS NJ 07652 9372662 0 X WWW.BENPORATYOSEF.ORG X 1999 NJ ORTHODOX YESHIVA DAY SCHOOL THAT STRIVES EACH DAY TO DEVELOP EACH CHILD'S AHAVAT HASHEM AND YIRAT HASHEM. 14 14 137 45 0 0 2307628 1082267 7086065 7852181 283489 38007 188494 292298 9865676 9264753 0 0 0 0 6340009 6747108 0 0 310978 2697176 2592859 9037185 9339967 828491 -75214 11738493 11344656 8211520 7892897 3526973 3451759 X BEN PORAT YOSEF IS AN ORTHODOX YESHIVA DAY SCHOOL THAT STRIVES EACH DAY TO DEVELOP EACH CHILD'S AHAVAT HASHEM AND YIRAT HASHEM; INSPIRE, CHALLENGE AND ENGAGE EACH LEARNER; CELEBRATE AND TRANSMIT OUR SEPHARDIC AND ASHKENAZIC IDENTITY AND LOVE OF AM YISRAEL, ERETZ YISRAEL AND MEDINAT YISRAEL; EMPOWER AND CONNECT STUDENTS THROUGH HEBREW LANGUAGE FLUENCY; AND BUILD A WARM, CARING AND DEVOTED COMMUNITY DEDICATED TO NUTURING EMPATHIC, HAPPY, AND SELF-FULFILLED HUMAN BEINGS. 0 0 7422120 8045661 TO ESTABLISH AND MAINTAIN A NONPROFIT, COEDUCATIONAL, ORTHODOX SCHOOL. SCHOOL IS CONDUCTED 4 DAYS A WEEK FROM 8:30 AM TO 3:30 PM OR 4:30 PM AND ONE DAY A WEEK FROM 8:30 AM TO 1:20 PM OR 2:30 PM. THERE ARE TWELVE GRADES SERVING 410 CHILDREN. 7422120 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 22 0 137 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X SHOSHI RYP 2018455007 243 FRISCH COURT PARAMUS NJ 07652 RACHEL BARBER SCHWARTZ PRESIDENT 15.00 X X 0 0 0 GILA HARARY TRUSTEE 5.00 X 0 0 0 ADAM GROVEMAN VICE PRESIDENT 10.00 X X 0 0 0 LAURA ABERGEL TRUSTEE 5.00 X 0 0 0 ISAAC DAYAN SECRETARY 10.00 X X 0 0 0 HOWARD KESTENBAUM TREASURER 5.00 X X 0 0 0 CORI ROBINSON TRUSTEE 5.00 X 0 0 0 ALEXANDER CHESTER TRUSTEE 5.00 X 0 0 0 ANNA GRADY VICE PRESIDENT 10.00 X X 0 0 0 YONI COHEN TRUSTEE 5.00 X 0 0 0 RICHARD SOLOMON TRUSTEE 5.00 X 0 0 0 CARLY TEICHMAN VICE PRESIDENT 10.00 X X 0 0 0 SHAUL COHEN TRUSTEE 5.00 X 0 0 0 SHALOM HOLTZ TRUSTEE 5.00 X 0 0 0 SHOSHI RYP DIRECTOR OF FINANCE 50.00 X 86409 0 41509 RABBI SAUL ZUCKER HEAD OF SCHOOL 55.00 X 258946 0 8598 NAOMI MARON GENERAL STUDIES PRINCIPAL 50.00 X 132001 0 54596 SARAH BARTGES MIDDLE SCHOOL PRINCIPAL 50.00 X 107932 0 52513 STACY GOLDSTEIN DIRECTOR OF OPERATIONS 50.00 X 108178 0 61200 693466 0 218416 4 0 1 0 THOR ONE 144-55 77TH AVE FLUSHING NJ 11367 CLEANING SERVICES 286012 KOSHER EXPERIENCE PO BOX 56 PASSAIC NJ 07014 CATERING SERVICES 283273 2 32243 386831 270240 392953 1082267 TUITION AND REGISTRATI 611110 7223860 7223860 STUDENT ACTIVITY REVEN 611110 494797 494797 133524 133524 7852181 38007 38007 193480 0 193480 193480 193480 28800 386831 57912 -29112 -29112 114967 49997 64970 64970 YEARBOOK ADVERTISEMENT 541800 7231 7231 55729 55729 62960 9264753 8045661 0 136825 427824 151917 275907 5038920 4002568 894023 142329 944651 778947 161504 4200 335713 256485 70432 8796 10339 10339 38678 38678 21399 3500 17899 36673 36673 96542 81305 14282 955 7901 7506 395 872439 824456 43621 4362 293679 288104 3775 1800 564753 533692 28238 2823 89157 84254 4457 446 STUDENT ACTIVITIES 283158 283158 EDUCATIONAL MATERIALS 126228 126228 151913 6646 145267 9339967 7422120 1606869 310978 706767 1191047 926131 63054 59513 59560 38021 91869 12952673 3013547 10008061 9939126 11738493 11344656 940506 879006 876506 875358 6394508 6138533 8211520 7892897 X 3526973 3451759 3526973 3451759 11738493 11344656 -75214 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 971284 971284 11085232 2582787 8502445 590659 290581 300078 305498 140179 165319 9939126 9314750 0 9314750 -49997 -49997 9264753 9389964 49997 49997 9339967 0 9339967 PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B -49,997. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B 49,997. 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 APPROPRIATE PUBLICITY AND DISCLOSURES MADE IN ALL INSTANCES THAT ARE RELEVANT AS THE SCHOOL IS AN INSTITUTION FOR CHILDREN OF THE ORTHODOX JEWISH FAITH. SCHEDULE E, PART I, LINE 4 THE SCHOOL IS AN INSTITUTION WHOSE STUDENT POPULATION IS COMPRISED OF CHILDREN OF THE ORTHODOX JEWISH FAITH. SCHEDULE E, PART I, LINE 6 BEN PORAT YOSEF RECEIVED GRANTS FROM THE PARAMUS BOARD OF EDUCATION FOR BUILDING SECURITY, TEXTBOOKS, TECHNOLOGY AND PROFESSIONAL DEVELOPMENT IN THE AMOUNT OF $104,697. THE ORGANIZATION ALSO RECEIVED A $58,311 GRANT FROM THE U.S. DEPARTMENT OF TREASURY FOR COVID RELIEF. ANNUAL DINNER 351977 323177 28800 26510 27550 1000 WALKATHON 63654 63654 2852 415631 386831 28800 26510 27550 3852 57912 -29112 X X X 0 0 0 0 0 0 0 0 0 RABBI SAUL ZUCKER HEAD OF SCHOOL 258946 0 0 0 0 0 0 0 8598 0 267544 0 0 0 NAOMI MARON GENERAL STUDIES PRINCIPAL 132001 0 0 0 0 0 0 0 54596 0 186597 0 0 0 STACY GOLDSTEIN DIRECTOR OF OPERATIONS 108178 0 0 0 0 0 0 0 61200 0 169378 0 0 0 SARAH BARTGES MIDDLE SCHOOL PRINCIPAL 107932 0 0 0 0 0 0 0 52513 0 160445 0 0 0 A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2015-04-15 8010000 ACQUIRE SCHOOL BUILDING 0 0 0 A 8010000 12998 7997002 0 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 PART IV PART IV NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY (NJEDA) TAX EXEMPT BONDS. ON APRIL 15, 2015, PURSUANT TO THE PROVISIONS OF THE BOND AGREEMENT THE NJEDA RELEASED $8,010,000 TO THE STERLING NATIONAL BANK WHICH IN TURN DISBURSED THE NET PROCEEDS TO ACQUIRE THE BUILDING PURCHASED BY THE ORGANIZATION, HEREINAFTER DESCRIBED AS THE BEN PORAT YOSEF, INC.-2015 PROJECT. INTEREST. COMMENCING ON THE DATE APRIL 15, 2015, AND CONTINUING HEREAFTER THROUGH AND INCLUDING THE MATURITY DATE, THE OUTSTANDING PRINCIPAL BALANCE OF THE BOND SHALL BEAR INTEREST AT ANNUAL FIXED RATE OF 3.661%, PROVIDED THAT THE INTEREST RATE ON THE BOND SHALL BE SUBJECT TO ADJUSTMENT AS OF APRIL 1, 2030 (RESET DATE) IN ACCORDANCE WITH THE TERMS OF THIS BOND. THE INITIAL RATE WILL BE SUBJECT TO ADJUSTMENT TO A FIXED PER ANNUM RATE EQUAL TO THE TAX-EXEMPT EQUIVALENT OF THE SUM OF THE SPREAD PLUS THE INDEX RATE AS OF THE RESET DATE, BY WRITTEN NOTICE GIVEN BY THE PURCHASER TO THE BORROWER SEVEN BUSINESS DAYS PRIOR TO THE RESET DATE. ALL INTEREST ON THE PRINCIPAL AMOUNT DUE UNDER THIS BOND SHALL BE COMPUTED ON A 365/360 BASIS; THAT IS, BY APPLYING THE RATIO OF THE INTEREST RATE OVER A YEAR OF 360 DAYS,MULTIPLIED BY THE OUTSTANDING PRINCIPAL BALANCE, MULTIPLIED BY THE ACTUAL NUMBER OF DAYS THE PRINCIPAL BALANCE IS OUTSTANDING. THE INITIAL RATE AND THE RESET RATE, AS CALCULATED BY THE PURCHASER, SHALL BE UTILIZED ABSENT MANIFEST ERROR. REPAYMENT. COMMENCING ON JUNE 1, 2040 (THE "MATURITY DATE"), THE NJEDA SHALL MAKE CONSECUTIVE MONTHLY PAYMENTS OF PRINCIPAL AND INTEREST IN THE AMOUNT OF $41,115.02 PROVIDED THAT ON THE MATURITY DATE THE FINAL PAYMENT SHALL BE IN THE AMOUNT OF $41,111.58, PROVIDED THAT THE AMOUNT OF SUCH PRINCIPAL AND INTEREST PAYMENTS SHALL BE SUBJECT TO ADJUSTMENT AS PROVIDED BELOW. UPON AN INTEREST RATE RESET AS OF THE RESET DATE, COMMENCING ON APRIL 1, 2030, AND CONTINUING ON EACH PAYMENT DATE THEREAFTER, THE AUTHORITY SHALL MAKE EQUAL CONSECUTIVE MONTHLY PAYMENTS OF PRINCIPAL AND INTEREST UTILIZING (A) A FIXED INTEREST RATE AND (B) AN AMORTIZATION SCHEDULE FOR THE REMAINING TERM OF THIS BOND, PROVIDED THAT SUCH PAYMENT AMOUNT SHALL BE SUBJECT TO ADJUSTMENT. MORTGAGE AND SECURITY AGREEMENT. ON APRIL 15, 2015, STERLING BANK, AGREED TO PURCHASE THE AUTHORITY'S (NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY) BONDS (AS DEFINED IN THE BOND AGREEMENT) IN ORDER TO PROVIDE THE AUTHORITY WITH THE FUNDS NECESSARY TO MAKE THE LOAN TO THE BORROWER-MORTGAGOR, BEN PORAT YOSEF, INC. PURSUANT TO THE AFOREMENTIONED PURCHASE AGREEMENT, ON APRIL 15, 2015, THE AUTHORITY AGREED TO LEND TO THE MORTGAGOR, BEN PORAT YOSEF, INC. THE SUM OF $8,010,000, TO FINANCE THE ACQUISITION OF THE LAND AND BUILDING LOCATED AT 243 FRISCH COURT (BLOCK 1411, LOT 8) IN THE BOROUGH OF PARAMUS, BERGEN COUNTY, NEW JERSEY, WHICH WAS ORIGINALLY LEASED BY THE ORGANIZATION AS A SCHOOL. THE PROCEEDS WERE ALSO TO BE USED TO PAY DOWN EXISTING INDEBTEDNESS OF THE BORROWER RELATIVE TO THE LAND AND BUILDING AND TO PAY CERTAIN PROJECT COSTS ASSOCIATED WITH ISSUING THE BONDS. FORM 990, PART VI, SECTION B, LINE 11B THE PREPARED FORM 990 IS REVIEWED BY THE ORGANIZATION'S TREASURER AND PRESENTED TO THE ENTIRE GOVERNING BODY FOR REVIEW AND APPROVAL BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER AND THE HEAD OF SCHOOL OF BEN PORAT YOSEF SHALL ANNUALLY SUBMIT A DISCLOSURE STATEMENT LISTING ALL RELATIONSHIPS OR AFFILIATIONS THAT COULD GIVE RISE TO A CONFLICT OF INTEREST. A PERSONS DISCLOSURE STATEMENT SHOULD LIST (I) THE NAMES OF COMPANIES OR OTHER ORGANIZATIONS WITH WHICH THE PERSON IS AFFILIATED THAT COULD GIVE RISE TO A CONFLICT AND DESCRIBE THE NATURE OF THE AFFILIATION; (II) ANY CURRENTLY OUTSTANDING LOANS, CONTRACTS, OR OTHER TRANSACTIONS (OTHER THAN THOSE RELATING TO TUITION AND FINANCIAL AID) INVOLVING THE SCHOOL AND THE PERSON OR HIS OR HER EXTENDED FAMILY; AND (III) THE NAMES OF ALL MEMBERS OF THE PERSONS EXTENDED FAMILY EMPLOYED BY THE SCHOOL. A BOARD MEMBER OR THE HEAD OF SCHOOL IS DEEMED TO BE AFFILIATED WITH ANY COMPANY OR OTHER ORGANIZATION IF (I) HE OR SHE, OR A MEMBER OF HIS OR HER EXTENDED FAMILY, IS A DIRECTOR, OFFICER, TRUSTEE, PARTNER, EMPLOYEE, OR AGENT OF THAT COMPANY OR ORGANIZATION; (II) HE OR SHE OR MEMBERS OF HIS OR HER EXTENDED FAMILY RECEIVE DIRECT FINANCIAL BENEFIT FROM SALES OR SERVICES PROVIDED BY THAT COMPANY OR ORGANIZATION; OR (C) HE OR SHE OR MEMBERS OF HIS OR HER EXTENDED FAMILY HAVE A 10 PERCENT OR GREATER INTEREST IN THAT COMPANY OR ORGANIZATION. IN THE EVENT THERE IS ANY MATERIAL CHANGE IN THE INFORMATION CONTAINED IN ANY DISCLOSURE STATEMENT, THE PERSON WHO SUBMITTED IT SHALL PROMPTLY SUBMIT WRITTEN NOTIFICATION OF THE CHANGE. THE DISCLOSURE STATEMENTS SUBMITTED BY EACH BOARD MEMBER AND THE HEAD OF SCHOOL SHALL BE KEPT BY THE SECRETARY WITH BOARD MINUTES AND RECORDS AND INCLUDED IN THE ROSTER OF BOARD MEMBERS THAT IS DISTRIBUTED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A IN DETERMINING COMPENSATION FOR THE HEAD OF SCHOOL, AN APPOINTED COMMITTEE OF THE BOARD REVIEWS THE AVAILABLE 990S OF SIMILAR INSTITUTIONS TO OBTAIN COMPARABILITY DATA. ADDITIONALLY, PUBLICLY AVAILABLE SALARY SURVEYS ARE REFERENCED (E.G. THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS). THIS EVALUATION WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, INCLUDING THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.