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Nonprofiteer
← KEREM BAIS YAAKOV SEMINARY INC

Form 990 for tax year 2023

Filed by KEREM BAIS YAAKOV SEMINARY INC.

Totals

Total revenue
$3,815,862
Total expenses
$2,144,692
Contributions and grants received
$2,259,151
Grants paid
$18,000
Program service revenue
$1,556,473
Investment income
$238
Other revenue
$0
Total assets, end of year
$6,858,242
Total liabilities, end of year
$5,037,062
Net assets or fund balances, end of year
$1,821,180
Program services expenses (Part IX)
$1,833,270
Management and general expenses
$311,422
Fundraising expenses
$0
Program service expenses (Part III)
$1,833,270

Program services were 85.5% 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

    $2,259,151

  • 2a · Program service revenue: TUITION

    total $1,556,473 · related or exempt $1,556,473

  • 3 · Investment income

    total $238 · excluded $238

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,000 · program services $18,000

  • 5 · Compensation of officers, directors and key employees

    total $82,848 · program services $82,848

  • 7 · Other salaries and wages

    total $626,329 · program services $532,380 · management and general $93,949

  • 9 · Other employee benefits

    total $3,525 · program services $2,996 · management and general $529

  • 10 · Payroll taxes

    total $74,779 · program services $63,562 · management and general $11,217

  • 11g · Fees: other

    total $92,282 · management and general $92,282

  • 12 · Advertising and promotion

    total $55,473 · program services $55,473

  • 13 · Office expenses

    total $28,062 · management and general $28,062

  • 16 · Occupancy

    total $40,743 · program services $40,743

  • 17 · Travel

    total $1,643 · program services $1,643

  • 20 · Interest

    total $233,158 · program services $198,184 · management and general $34,974

  • 22 · Depreciation, depletion and amortization

    total $257,651 · program services $257,651

  • 23 · Insurance

    total $29,016 · management and general $29,016

  • 24a · Other expenses: PROGRAM

    total $258,132 · program services $258,132

  • 24b · Other expenses: STUDENT MEALS

    total $162,684 · program services $162,684

  • 24c · Other expenses: OUTSIDE SERVICES

    total $76,450 · program services $76,450

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $37,193 · program services $31,614 · management and general $5,579

  • 24e · All other expenses

    total $66,724 · program services $50,910 · management and general $15,814

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $440,660

  • 4 · Accounts receivable

    end of year $398,259

  • 10a · Land, buildings and equipment: cost or other basis

    $6,699,619

  • 10b · Land, buildings and equipment: accumulated depreciation

    $256,928

  • 10c · Land, buildings and equipment, net

    end of year $6,442,691

  • 14 · Intangible assets

    beginning of year $18,015 · end of year $17,292

  • 15 · Other assets

    beginning of year $5,256,867

  • 17 · Accounts payable and accrued expenses

    end of year $738,614

  • 23 · Secured mortgages and notes payable

    beginning of year $3,570,000 · end of year $3,521,698

  • 24 · Unsecured notes and loans payable

    beginning of year $1,650,000 · end of year $734,511

  • 25 · Other liabilities

    beginning of year $345,532 · end of year $42,239

  • 27 · Net assets without donor restrictions

    beginning of year $150,010 · end of year $1,821,180

Mission and programs · 2023

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 $1,833,270 · Grants $18,000 · Revenue $1,556,473

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Yael Gellis

    TRUSTEE

    Total calculated
    $82,848
    From this org
    $82,848
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Samuel Gellis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Bernard D Kahan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Benzion 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

Provenance

Return type
form_990
Tax year
2023
Filed
30 April 2025
IRS schema version
2023v6.0
Source object
202541259349301929

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