BEN PORAT YOSEF INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- BEN PORAT YOSEF INC (EIN 22-3688043)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-03-07
- IRS object ID
- 202200669349301105
- Schema version
- 2020v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-03-07T11:33:15-06:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390974031 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WEGNER CPAS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 230 PARK AVE FL 3 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 101690005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 223688043 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BEN PORAT YOSEF INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BENP | BusinessNameControlTxt |
| Phone | 2018455007 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 243 FRISCH COURT | AddressLine1Txt |
| City | PARAMUS | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07652 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RACHEL BARBER SCHWARTZ | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2018455007 | PhoneNum |
| Signature | 2022-03-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | RACHEL | PersonFirstNm |
| Person Last | BARBER SCHWARTZ | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | YIGIT UCTUM CPA | PreparerPersonNm |
| PTIN | P01269549 | PTIN |
| Phone | 2125511724 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RACHEL BARBER SCHWARTZ | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 243 FRISCH COURT | AddressLine1Txt |
| City | PARAMUS | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07652 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,988,510 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.BENPORATYOSEF.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1999 | FormationYr |
| Legal Domicile State | NJ | LegalDomicileStateCd |
| Activity Or Mission | ORTHODOX YESHIVA DAY SCHOOL THAT STRIVES EACH DAY TO DEVELOP EACH CHILD'S AHAVAT HASHEM AND YIRAT HASHEM. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 132 | TotalEmployeeCnt |
| Total Volunteers | 20 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $932,448 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,016,985 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $7,572,919 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $6,823,688 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $78,094 | PYOtherRevenueAmt |
| CY Other Revenue | $82,816 | CYOtherRevenueAmt |
| PY Total Revenue | $8,583,461 | PYTotalRevenueAmt |
| CY Total Revenue | $8,923,489 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,203,069 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $5,610,528 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $136,818 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,185,902 | PYOtherExpensesAmt |
| CY Other Expenses | $2,375,152 | CYOtherExpensesAmt |
| PY Total Expenses | $8,388,971 | PYTotalExpensesAmt |
| CY Total Expenses | $7,985,680 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $194,490 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $937,809 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $11,335,779 | TotalAssetsBOYAmt |
| Total Assets EOY | $11,778,064 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $9,575,106 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $9,079,582 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,760,673 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,698,482 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $6,533,755 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $6,823,688 | RevenueAmt |
| Desc | 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. | Desc |
| Total Program Service Expenses | $6,533,755 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 10 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 132 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SHOSHI RYP | PersonNm |
| Phone | 2018455007 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 243 FRISCH COURT | AddressLine1Txt |
| City | PARAMUS | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07652 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| RACHEL BARBER SCHWARTZ | |||||||
| PRESIDENT | 15.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| GILA HARARY | |||||||
| VICE PRESIDENT | 10.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CORI ROBINSON | |||||||
| VICE PRESIDENT | 10.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SHOSHANA POUPKO | |||||||
| VICE PRESIDENT | 10.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ISAAC DAYAN | |||||||
| SECRETARY | 10.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| HOWARD KESTENBAUM | |||||||
| TREASURER | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ELINOR LITWACK | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| ALEXANDER CHESTER | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| ANNA GRADY | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSHUA EINHORN | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| ADAM GROVEMAN | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| CARLY TEICHMAN | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| SHAUL COHEN | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVE MAYER | |||||||
| TRUSTEE | 5.00 | Yes (X) | $0 | $0 | $0 | ||
| SHOSHI RYP | |||||||
| DIRECTOR OF FINANCE | 45.00 | Yes (X) | $78,648 | $0 | $45,823 | ||
| RABBI SAUL ZUCKER | |||||||
| HEAD OF SCHOOL | 50.00 | Yes (X) | $247,973 | $0 | $8,437 | ||
| NAOMI MARON | |||||||
| GENERAL STUDIES PRINCIPAL | 45.00 | $115,892 | $0 | $30,000 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $442,513 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $84,260 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| THOR ONE | |||||
| 1483 E 2ND ST | BROOKLYN | NY | 11230 | CLEANING SERVICES | $251,915 |
| KOSHER EXPERIENCE | |||||
| 306 MAIN AVE | CLIFTON | NJ | 07014 | CATERING SERVICES | $115,341 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $16,250 | FederatedCampaignsAmt |
| Government Grants | $1,281,499 | GovernmentGrantsAmt |
| All Other Contributions | $719,236 | AllOtherContributionsAmt |
| Total Contributions | $2,016,985 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND REGISTRATI | 611110 | $6,415,489 | $6,415,489 |
| STUDENT ACTIVITY REVEN | 611110 | $408,034 | $408,034 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $165 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $165 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $6,823,688 | TotalProgramServiceRevenueAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $24,760 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $24,760 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $24,760 | TotalRevenueColumnAmt |
| Exclusion | $24,760 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $119,666 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $65,021 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $54,645 | TotalRevenueColumnAmt |
| Exclusion | $54,645 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | YEARBOOK ADVERTISEMENT | Desc |
| Business | 541800 | BusinessCd |
| Total Revenue Column | $3,411 | TotalRevenueColumnAmt |
| Exclusion | $3,411 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $3,411 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,923,489 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,823,688 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $82,816 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $375,911 | TotalAmt |
| Program Services | $130,427 | ProgramServicesAmt |
| Management And General | $245,484 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,122,882 | TotalAmt |
| Program Services | $3,431,946 | ProgramServicesAmt |
| Management And General | $637,951 | ManagementAndGeneralAmt |
| Fundraising | $52,985 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $844,128 | TotalAmt |
| Program Services | $713,052 | ProgramServicesAmt |
| Management And General | $131,076 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $267,607 | TotalAmt |
| Program Services | $213,845 | ProgramServicesAmt |
| Management And General | $50,578 | ManagementAndGeneralAmt |
| Fundraising | $3,184 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,832 | TotalAmt |
| Management And General | $38,832 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,651 | TotalAmt |
| Management And General | $49,651 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,702 | TotalAmt |
| Management And General | $10,702 | ManagementAndGeneralAmt |
| Fundraising | $21,000 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,130 | TotalAmt |
| Management And General | $37,130 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,481 | TotalAmt |
| Program Services | $64,606 | ProgramServicesAmt |
| Management And General | $10,174 | ManagementAndGeneralAmt |
| Fundraising | $701 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,677 | TotalAmt |
| Program Services | $12,993 | ProgramServicesAmt |
| Management And General | $684 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $828,514 | TotalAmt |
| Program Services | $787,088 | ProgramServicesAmt |
| Management And General | $37,283 | ManagementAndGeneralAmt |
| Fundraising | $4,143 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $163,175 | TotalAmt |
| Program Services | $161,198 | ProgramServicesAmt |
| Management And General | $1,977 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,751 | TotalAmt |
| Program Services | $2,613 | ProgramServicesAmt |
| Management And General | $124 | ManagementAndGeneralAmt |
| Fundraising | $14 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $537,819 | TotalAmt |
| Program Services | $510,928 | ProgramServicesAmt |
| Management And General | $24,202 | ManagementAndGeneralAmt |
| Fundraising | $2,689 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $76,190 | TotalAmt |
| Program Services | $72,380 | ProgramServicesAmt |
| Management And General | $3,429 | ManagementAndGeneralAmt |
| Fundraising | $381 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| STUDENT ACTIVITIES | $275,460 | $275,460 | |
| EDUCATIONAL MATERIALS | $150,834 | $150,834 | |
| BAD DEBT EXPENSE | $35,830 | $35,830 | |
| CAMP EXPENSES | $6,385 | $6,385 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,721 | TotalAmt |
| Fundraising | $51,721 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,985,680 | TotalAmt |
| Program Services | $6,533,755 | ProgramServicesAmt |
| Management And General | $1,315,107 | ManagementAndGeneralAmt |
| Fundraising | $136,818 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $700,797 | BOYAmt |
| EOY | $935,542 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $105,838 | BOYAmt |
| EOY | $511,450 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $120,519 | BOYAmt |
| EOY | $83,671 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,166 | BOYAmt |
| EOY | $16,946 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $12,629,123 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,398,668 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,402,459 | BOYAmt |
| EOY | $10,230,455 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,335,779 | BOYAmt |
| EOY | $11,778,064 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $640,785 | BOYAmt |
| EOY | $709,866 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $975,795 | BOYAmt |
| EOY | $774,592 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,128,571 | BOYAmt |
| EOY | $6,725,357 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,785 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $720,170 | BOYAmt |
| EOY | $869,767 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,575,106 | BOYAmt |
| EOY | $9,079,582 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,760,673 | BOYAmt |
| EOY | $2,698,482 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,760,673 | BOYAmt |
| EOY | $2,698,482 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,335,779 | BOYAmt |
| EOY | $11,778,064 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $937,809 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,000,000 | OtherCostOrOtherBasisAmt |
| Book Value | $1,000,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,494,354 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,877,580 | DepreciationAmt |
| Book Value | $8,616,774 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $669,449 | OtherCostOrOtherBasisAmt |
| Depreciation | $389,539 | DepreciationAmt |
| Book Value | $279,910 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $465,320 | OtherCostOrOtherBasisAmt |
| Depreciation | $131,549 | DepreciationAmt |
| Book Value | $333,771 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $10,230,455 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PAYCHECK PROTECTION PROGRAM LOAN | Desc |
| Amt | $869,767 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $869,767 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $8,988,510 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $8,988,510 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$65,021 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$65,021 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $8,923,489 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $8,050,701 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $65,021 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $65,021 | ExpensesNotReportedAmt |
| Expenses Subtotal | $7,985,680 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,985,680 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | COST OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B -65,021. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | COST OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B 65,021. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | 0 | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | 0 | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | 0 | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | 0 | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 $128,249. THE ORGANIZATION ALSO RECEIVED A $720,170 GRANT FROM THE U.S. SMALL BUSINESS ADMINISTRATION AND A $439,330 GRANT FROM THE U.S. DEPARTMENT OF TREASURY FOR COVID RELIEF. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RABBI SAUL ZUCKER | PersonNm |
| Title | HEAD OF SCHOOL | TitleTxt |
| Base Compensation Filing Org | $247,973 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $8,437 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $256,410 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | 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). | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 222045817 | BondIssuerEIN |
| Bond Issued | 2015-04-15 | BondIssuedDt |
| Issue Price | $8,010,000 | IssuePriceAmt |
| Purpose | ACQUIRE SCHOOL BUILDING | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $8,010,000 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $12,998 | IssuanceCostsFromProceedsAmt |
| Capital Expenditures | $7,997,002 | CapitalExpendituresAmt |
| Refunding Tax Exempt Bonds | 0 | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | 0 | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | Yes (1) | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | 0 | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | 0 | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | 0 | ProceduresCorrectiveActionInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART IV | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 2020. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |