2022-03-07T11:33:15-06:00 2021-06-30 390974031 WEGNER CPAS LLP 230 PARK AVE FL 3 NEW YORK NY 101690005 990 2020-07-01 223688043 BEN PORAT YOSEF INC BENP 2018455007 243 FRISCH COURT PARAMUS NJ 07652 RACHEL BARBER SCHWARTZ PRESIDENT 2018455007 2022-03-04 1 RACHEL BARBER SCHWARTZ 999009999 YIGIT UCTUM CPA P01269549 2125511724 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z RACHEL BARBER SCHWARTZ 243 FRISCH COURT PARAMUS NJ 07652 8988510 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 14 132 20 0 0 932448 2016985 7572919 6823688 0 0 78094 82816 8583461 8923489 0 0 0 0 6203069 5610528 0 0 136818 2185902 2375152 8388971 7985680 194490 937809 11335779 11778064 9575106 9079582 1760673 2698482 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 6533755 0 6823688 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. 6533755 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 1 0 0 0 0 0 0 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 10 0 132 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 VICE PRESIDENT 10.00 X X 0 0 0 CORI ROBINSON VICE PRESIDENT 10.00 X X 0 0 0 SHOSHANA POUPKO VICE PRESIDENT 10.00 X X 0 0 0 ISAAC DAYAN SECRETARY 10.00 X X 0 0 0 HOWARD KESTENBAUM TREASURER 5.00 X X 0 0 0 ELINOR LITWACK TRUSTEE 5.00 X 0 0 0 ALEXANDER CHESTER TRUSTEE 5.00 X 0 0 0 ANNA GRADY TRUSTEE 5.00 X 0 0 0 JOSHUA EINHORN TRUSTEE 5.00 X 0 0 0 ADAM GROVEMAN TRUSTEE 5.00 X 0 0 0 CARLY TEICHMAN TRUSTEE 5.00 X 0 0 0 SHAUL COHEN TRUSTEE 5.00 X 0 0 0 STEVE MAYER TRUSTEE 5.00 X 0 0 0 SHOSHI RYP DIRECTOR OF FINANCE 45.00 X 78648 0 45823 RABBI SAUL ZUCKER HEAD OF SCHOOL 50.00 X 247973 0 8437 NAOMI MARON GENERAL STUDIES PRINCIPAL 45.00 X 115892 0 30000 442513 0 84260 2 0 1 0 THOR ONE 1483 E 2ND ST BROOKLYN NY 11230 CLEANING SERVICES 251915 KOSHER EXPERIENCE 306 MAIN AVE CLIFTON NJ 07014 CATERING SERVICES 115341 2 16250 1281499 719236 2016985 TUITION AND REGISTRATI 611110 6415489 6415489 STUDENT ACTIVITY REVEN 611110 408034 408034 165 165 6823688 24760 0 24760 24760 24760 119666 65021 54645 54645 YEARBOOK ADVERTISEMENT 541800 3411 3411 3411 8923489 6823688 0 82816 375911 130427 245484 4122882 3431946 637951 52985 844128 713052 131076 267607 213845 50578 3184 38832 38832 49651 49651 31702 10702 21000 37130 37130 75481 64606 10174 701 13677 12993 684 828514 787088 37283 4143 163175 161198 1977 2751 2613 124 14 537819 510928 24202 2689 76190 72380 3429 381 STUDENT ACTIVITIES 275460 275460 EDUCATIONAL MATERIALS 150834 150834 BAD DEBT EXPENSE 35830 35830 CAMP EXPENSES 6385 6385 51721 51721 7985680 6533755 1315107 136818 700797 935542 105838 511450 120519 83671 6166 16946 12629123 2398668 10402459 10230455 11335779 11778064 640785 709866 975795 774592 7128571 6725357 109785 720170 869767 9575106 9079582 X 1760673 2698482 1760673 2698482 11335779 11778064 937809 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1000000 1000000 10494354 1877580 8616774 669449 389539 279910 465320 131549 333771 10230455 PAYCHECK PROTECTION PROGRAM LOAN 869767 869767 8988510 0 8988510 -65021 -65021 8923489 8050701 65021 65021 7985680 0 7985680 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. 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 $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. X X X 0 0 0 0 0 0 0 0 0 RABBI SAUL ZUCKER HEAD OF SCHOOL 247973 0 0 0 0 0 0 0 8437 0 256410 0 0 0 PART I, LINE 3 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). 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 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 2020. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.