2019-04-17T13:37:00-05:00 2018-06-30 390974031 WEGNER CPAS LLP 230 PARK AVE FL 3 NEW YORK NY 101690005 990 2017-07-01 223688043 BEN PORAT YOSEF INC BENP 2018455007 243 FRISCH CT PARAMUS NJ 076525240 DANIEL COHEN PRESIDENT 2018455007 2019-04-15 YIGIT UCTUM CPA P01269549 2125511724 66.222.124.178 2019-04-15 15:24:16 CD P 6BE22992A1FE3C9B6F79F8315EFC85A5D6DFCE95 B169A553E6FC674180C4B0C62460B1C0CC916730 2017 2019-02-21 02:37:17Z DANIEL COHEN 243 FRISCH CT PARAMUS NJ 076525240 9470794 0 X WWW.BENPORATYOSEF.ORG X 2001 NJ 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 YISREAL, ERETZ YISRAEL AND MEDINAT YISREAL; 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. 14 14 203 30 0 3705 894176 891938 7942609 8463084 12 36 61380 60898 8898177 9415956 0 0 0 0 6376698 6934986 0 0 202151 2228348 2493247 8605046 9428233 293131 -12277 11126855 11051145 9788604 9684082 1338251 1367063 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 YISREAL, ERETZ YISRAEL AND MEDINAT YISREAL; 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 7634899 8463084 BEN PORAT YOSEF MAINTAINS A NONPROFIT, COEDUCATIONAL, ORTHODOX SCHOOL. SCHOOL IS CONDUCTED FOUR 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 509 CHILDREN. 7634899 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 29 0 203 1 1 1 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 NJ X SHOSHI RYP 2018455007 243 FRISCH CT PARAMUS NJ 076525240 DANIEL COHEN PRESIDENT 15.00 X X 0 0 0 URI MOCHE VICE PRESIDENT 10.00 X X 0 0 0 MARK WEINBERGER VICE PRESIDENT 10.00 X X 0 0 0 JOSHUA DRAZEN SECRETARY 10.00 X X 0 0 0 ASHER TOPOROVSKY TREASURER 10.00 X X 0 0 0 OREN ADLER TRUSTEE 5.00 X 0 0 0 NAFTALI COHEN TRUSTEE 5.00 X 0 0 0 DAVID BREAU TRUSTEE 5.00 X 0 0 0 SHAUL COHEN TRUSTEE 5.00 X 0 0 0 SAMANTHA KATZ TRUSTEE 5.00 X 0 0 0 SHOSHANA POUPKO TRUSTEE 5.00 X 0 0 0 CORI ROBINSON TRUSTEE 5.00 X 0 0 0 SHIRA SCHIOWITZ TRUSTEE 5.00 X 0 0 0 RACHEL BARBER SCHWARTZ TRUSTEE 5.00 X 0 0 0 NORMAN FERSTENBERG DIRECTOR OF FINANCE (7/7/17-2/5/18) 40.00 X 98666 0 16163 STEVE LORCH HEAD OF SCHOOL (7/1/17-7/31/17) 40.00 X 51284 0 8870 RABBI SAUL ZUCLER HEAD OF SCHOOL 40.00 X 107272 0 5744 REBECCA HIRSCHFIELD GENERAL STUDIES PRINCIPAL 40.00 X 114274 0 0 371496 0 30777 2 0 0 0 JANNET INTERNATIONAL 500 STATE RT 17 STE 302 HASBROUCK HEIGHTS NJ 076043121 CLEANING SERVICES 114834 FIVE STAR CATERERS INC 383 MINNISINK RD TOTOWA NJ 075121804 CATERING SERVICES 110444 2 274803 129150 487985 891938 TUITION AND REGISTRATI 611110 7871111 7871111 STUDENT ACTIVITY REVEN 611110 388798 388798 CAMP REVENUE 611110 175915 175915 OTHER PROGRAM SERVICES 611110 27260 27260 8463084 36 36 78038 1770 76268 76268 76268 21509 274803 53068 -31559 -31559 DIRECTORY ADVERTISING 541800 8350 8350 YEARBOOK ADVERTISEMENT 541800 7839 7839 16189 9415956 8463084 0 60934 297904 118000 179904 5193237 4271944 811470 109823 659524 431653 209237 18634 784321 618315 158542 7464 34140 34140 35094 35094 60252 55494 4758 15858 15858 108170 84543 12550 11077 16463 7073 2283 7107 704860 667092 34257 3511 240058 222007 5073 12978 480530 456504 21624 2402 106947 101599 4813 535 STUDENT ACTIVITIES 247769 247769 FOOD 217929 217929 CAMP EXPENSES 130308 130308 BAD DEBT EXPENSE 53640 53640 41229 4669 7940 28620 9428233 7634899 1591183 202151 160420 128624 100375 106867 79632 127031 92986 25250 53555 12214725 1579657 10665972 10635068 2220 11126855 11051145 897620 873299 1206741 1181032 62500 7568071 7576079 53672 53672 9788604 9684082 X 1338251 1367063 1338251 1367063 11126855 11051145 -12277 41089 0 X 0 1 X 1 0 X 10972208 904689 10067519 520764 324223 196541 721753 350745 371008 10635068 9417726 0 9417726 -1770 -1770 9415956 9430003 1770 1770 9428233 0 9428233 PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B -1,770. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B 1,770. 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. THE SCHOOL PUBLISHES A NON-DISCRIMINATORY POLICY ON ITS WEBSITE AND IN ALL APPLICATION PAPERWORK TO ENSURE ANYONE WHO WANTS TO ATTEND THE SCHOOL IS AWARE OF OUR POLICY. SCHEDULE E, PART I, LINE 4 THE SCHOOL IS COMPRISED OF STUDENTS OF ALL RACIAL BACKGROUNDS, BUT THE DETERMINING FACTOR IS THAT ALL OF THE STUDENTS ARE OF THE ORTHODOX JEWISH FAITH. SCHOLARSHIPS ARE BASED ON NEED ALONE. 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 $84,150. THE ORGANIZATION ALSO RECEIVED A $45,000 GRANT FROM THE STATE OF NEW JERSEY FOR BUILDING SECURITY. ANNUAL DINNER 204959 183450 21509 24150 26161 900 WALKATHON 91353 91353 67 1790 296312 274803 21509 24150 26228 2690 53068 -31559 A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2015-04-15 8010000 ACQUIRE SCHOOL BUILDING 0 0 0 A 683921 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 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 C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.