Form 990 for tax year 2024
Filed by KEREM BAIS YAAKOV SEMINARY INC.
Totals
- Total revenue
- $2,326,704
- Total expenses
- $2,312,209
- Contributions and grants received
- $790,912
- Grants paid
- $0
- Program service revenue
- $1,535,719
- Investment income
- $73
- Other revenue
- $0
- Total assets, end of year
- $6,856,873
- Total liabilities, end of year
- $5,227,869
- Net assets or fund balances, end of year
- $1,629,004
- Program services expenses (Part IX)
- $1,361,056
- Management and general expenses
- $949,723
- Fundraising expenses
- $1,430
- Program service expenses (Part III)
- $1,361,056
Program services were 58.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$790,912
-
2a · Program service revenue: TUITION
total $1,535,719 · related or exempt $1,535,719
-
3 · Investment income
total $73 · excluded $73
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $967,622 · program services $512,743 · management and general $454,879
-
9 · Other employee benefits
total $54,921 · program services $29,103 · management and general $25,818
-
10 · Payroll taxes
total $95,237 · program services $50,466 · management and general $44,771
-
11g · Fees: other
total $80,226 · program services $7,626 · management and general $72,600
-
12 · Advertising and promotion
total $63,636 · program services $33,721 · management and general $29,915
-
13 · Office expenses
total $62,104 · program services $32,908 · management and general $29,196
-
16 · Occupancy
total $51,424 · program services $27,249 · management and general $24,175
-
17 · Travel
total $4,510 · program services $4,510
-
20 · Interest
total $253,085 · program services $134,110 · management and general $118,975
-
22 · Depreciation, depletion and amortization
total $193,007 · program services $102,274 · management and general $90,733
-
23 · Insurance
total $25,163 · management and general $25,163
-
24a · Other expenses: PROGRAM
total $299,831 · program services $299,831
-
24b · Other expenses: STUDENT MEALS
total $102,756 · program services $102,756
-
24c · Other expenses: REPAIRS AND MAINTENANCE
total $32,324 · program services $17,128 · management and general $15,196
-
24d · Other expenses: BANK SERVICE CHARGES
total $17,417 · management and general $17,417
-
24e · All other expenses
total $8,946 · program services $6,631 · management and general $885 · fundraising $1,430
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $7,236
-
4 · Accounts receivable
beginning of year $398,259 · end of year $561,130
-
10a · Land, buildings and equipment: cost or other basis
$6,721,150
-
10b · Land, buildings and equipment: accumulated depreciation
$449,212
-
10c · Land, buildings and equipment, net
beginning of year $6,442,691 · end of year $6,271,938
-
14 · Intangible assets
beginning of year $17,292 · end of year $16,569
-
17 · Accounts payable and accrued expenses
beginning of year $738,614 · end of year $640,073
-
23 · Secured mortgages and notes payable
beginning of year $3,521,698 · end of year $3,464,278
-
24 · Unsecured notes and loans payable
beginning of year $734,511 · end of year $776,910
-
25 · Other liabilities
beginning of year $42,239 · end of year $346,608
-
27 · Net assets without donor restrictions
beginning of year $1,821,180 · end of year $1,629,004
Mission and programs · 2024
Mission
KEREM BAIS YAAKOV SEMINARY IS A RELIGIOUS INSTITUTION WITH TRADITIONAL VALUES DEDICATED TO ADVANCING STUDENTS IN CLASSICAL TORAH STUDIES WHILE ESTABLISHING A TORAH OUTLOOK THAT STUDENTS CAN APPLY TO DAILY LIFE. THE CURRICULUM ENHANCES JEWISH LIFE, SHAPES THE JEWISH EXPERIENCE OF THE FUTURE, AS WELL AS PREPARES STUDENTS TO ACHIEVE GAINFUL EMPLOYMENT IN THEIR COMMUNITIES.
-
KEREM BAIS YAAKOV SEMINARY IS A RELIGIOUS INSTITUTION WITH TRADITIONAL VALUES DEDICATED TO ADVANCING STUDENTS IN CLASSICAL TORAH STUDIES WHILE ESTABLISHING A TORAH OUTLOOK THAT STUDENTS CAN APPLY TO DAILY LIFE. THE CURRICULUM ENHANCES JEWISH LIFE, SHAPES THE JEWISH EXPERIENCE OF THE FUTURE, AS WELL AS PREPARES STUDENTS TO ACHIEVE GAINFUL EMPLOYMENT IN THEIR COMMUNITIES.
Expenses $1,361,056 · Revenue $1,535,719
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Yael GellisYAEL GELLIS
TRUSTEE
- Total calculated
- $82,848
- From this org
- $82,848
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Samuel GellisSAMUEL GELLIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Bernard D KahanBERNARD D KAHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Benzion MagidBENZION MAGID
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 28 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202543189349302964
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