Civic Intelligence

Leonard and Susan Fuchs Mizrachi School

990 • Fiscal year 2018 • EIN 34-1400924

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 19, 2019

26600 Shaker BlvdBeachwood, OH 44122

(216) 932-0220

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.55x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

2.85x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

10th percentile

-14%

Higher net margin than 10% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

18th percentile

$184,123

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

38th percentile

0.3%

Faster asset growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

34th percentile

0.6%

Faster revenue growth than 34% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$58,101,857

Up $185,340 (+0.3%) from 2017

Net Assets

Up

$26,395,703

Up $2,380,714 (+9.9%) from 2017

Liabilities

Down

$31,706,154

Down $2,195,374 (-6.5%) from 2017

Revenue

Up

$11,136,868

Up $69,194 (+0.6%) from 2017

Expenses

Down

$12,679,928

Down $222,868 (-1.7%) from 2017

Net Income

Up

-$1,543,060

Up $292,062 (+16%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $55,682,294Liabilities 2010: $31,111,653Net Assets 2010: $24,570,6412010Assets 2011: $57,190,926Liabilities 2011: $29,574,112Net Assets 2011: $27,616,8142011Assets 2012: $54,555,510Liabilities 2012: $35,600,645Net Assets 2012: $18,954,8652012Assets 2013: $58,194,107Liabilities 2013: $31,723,134Net Assets 2013: $26,470,9732013Assets 2014: $60,737,968Liabilities 2014: $31,606,311Net Assets 2014: $29,131,6572014Assets 2015: $58,950,791Liabilities 2015: $33,572,565Net Assets 2015: $25,378,2262015Assets 2016: $55,628,028Liabilities 2016: $37,920,645Net Assets 2016: $17,707,3832016Assets 2017: $57,916,517Liabilities 2017: $33,901,528Net Assets 2017: $24,014,9892017Assets 2018: $58,101,857Liabilities 2018: $31,706,154Net Assets 2018: $26,395,7032018Assets 2019: $56,466,247Liabilities 2019: $34,572,660Net Assets 2019: $21,893,5872019Assets 2020: $54,227,597Liabilities 2020: $39,989,038Net Assets 2020: $14,238,5592020Assets 2021: $63,214,368Liabilities 2021: $35,172,571Net Assets 2021: $28,041,7972021Assets 2022: $55,961,591Liabilities 2022: $30,415,965Net Assets 2022: $25,545,6262022Assets 2023: $57,869,196Liabilities 2023: $28,466,478Net Assets 2023: $29,402,7182023Assets 2024: $62,175,102Liabilities 2024: $27,457,816Net Assets 2024: $34,717,2862024

Highlighted filing

2018

Assets$58,101,857
Liabilities$31,706,154
Net Assets$26,395,703

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $7,872,2842010Expenses 2011: $10,178,0832011Expenses 2012: $10,343,8282012Expenses 2013: $10,851,1192013Revenue 2014: $9,728,560Expenses 2014: $11,960,815Net Income 2014: -$2,232,2552014Revenue 2015: $10,562,846Expenses 2015: $12,671,050Net Income 2015: -$2,108,2042015Revenue 2016: $11,270,509Expenses 2016: $12,718,385Net Income 2016: -$1,447,8762016Revenue 2017: $11,067,674Expenses 2017: $12,902,796Net Income 2017: -$1,835,1222017Revenue 2018: $11,136,868Expenses 2018: $12,679,928Net Income 2018: -$1,543,0602018Revenue 2019: $11,123,691Expenses 2019: $13,380,132Net Income 2019: -$2,256,4412019Revenue 2020: $11,153,405Expenses 2020: $13,268,384Net Income 2020: -$2,114,9792020Revenue 2021: $13,451,315Expenses 2021: $13,642,814Net Income 2021: -$191,4992021Revenue 2022: $12,768,559Expenses 2022: $13,699,034Net Income 2022: -$930,4752022Revenue 2023: $13,457,356Expenses 2023: $14,471,566Net Income 2023: -$1,014,2102023Revenue 2024: $14,807,441Expenses 2024: $15,194,309Net Income 2024: -$386,8682024

Highlighted filing

2018

Revenue$11,136,868
Expenses$12,679,928
Net Income-$1,543,060
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 19, 2019
Return Version
2017v2.3
Gross Receipts
$11,265,702
Mission and Program Overview

Mission

The mission of fuchs mizrachi school is to educate each child in the orthodox jewish religious zionist tradition, imbued with the love of g-d, torah, people and the land of israel.

Orthodox jewish/religious zionist college preparatory day school (pre-nursery - 12th grade)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,722,647$22,124,889▼ $597,758
Investments in Publicly Traded Securities$2,734,590$2,926,536▲ $191,946
Pledges and Grants Receivable$559,608$626,037▲ $66,429
Cash and Non-Interest-Bearing Accounts$177,217$209,285▲ $32,068
Accounts Receivable$102,150$79,901▼ $22,249
Savings and Temporary Cash Investments$31,499$56,721▲ $25,222
Other Notes and Loans Receivable, Net$11,843$22,719▲ $10,876
Prepaid Expenses and Deferred Charges$44,049$19,149▼ $24,900
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$57,916,517$58,101,857▲ $185,340
Other Assets Total$31,532,914$32,036,620▲ $503,706
Liabilities
Tax Exempt Bond Liabilities$24,321,309$24,503,383▲ $182,074
Other Liabilities$6,306,483$4,426,417▼ $1,880,066
Mortgage Notes Payable Secured by Investment Property$1,533,335$1,377,780▼ $155,555
Accounts Payable and Accrued Expenses$1,206,170$987,979▼ $218,191
Deferred Revenue$522,955$400,109▼ $122,846
Unsecured Notes Loans Payable$11,276$10,486▼ $790
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$33,901,528$31,706,154▼ $2,195,374
Net Assets / Fund Balance
Permanently Rstr Net Assets$30,531,717$30,551,853▲ $20,136
Temporarily Rstr Net Assets$4,196,131$4,782,205▲ $586,074
Unrestricted Net Assets$-10,712,859$-8,938,355▲ $1,774,504
Total Net Assets Fund Balance$24,014,989$26,395,703▲ $2,380,714
Total Liabilities and Net Assets / Fund Balance$57,916,517$58,101,857▲ $185,340

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,473,153$5,068,495$25,541,648
Land$1,592,890-$1,592,890
Equipment$56,378$1,327,627$1,384,005
Other Land Buildings$2,468$52,430$54,898
Other Assets Org$32,036,620--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$34,196,452$20,136▲ $2,405,335$1,736,055$34,885,868
2016$30,969,623$37,386▲ $4,924,998$1,735,555$34,196,452
2015$33,732,652$152,902▼ $1,130,551$1,785,380$30,969,623
2014$35,347,474$116,305▲ $111,225$1,842,352$33,732,652
2013$32,192,708$14,774▲ $5,031,911$1,891,919$35,347,474
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Seth LinfieldHead of School (until 6/30/17)-$174,235$9,888$184,123
Avery JoelHead of School From 11/1/17FT$143,947$10,198$154,145
Jason NedleyDirector of FinanceFT$133,851$9,779$143,630
Alex BaileyAsst. Principal, Student SvcsFT$114,887$10,124$125,011

Board Members and Trustees

NameTitle
Leonard FuchsChairman of the Board
Adam WiederPresident
Eliav SharvitVice President
Amy AschkenasyTrustee
Andrew GoldsteinTrustee
Aviva KleinTrustee
Brian FoxTrustee
Chaya SlainTrustee
Dan MesselofTrustee
Danielle WildTrustee
Dr Ari WiesenTrustee
Ethan SteinTrustee
Ezra StarkTrustee
Howard SlaterTrustee
Jane LefkoTrustee
Jeffrey WildTrustee
Jeremy SteigerTrustee
Joe ShafranTrustee
Jonathan KlinemanTrustee
Josh BotnickTrustee
Karen MaroccoTrustee
Laura WolfTrustee
Lindsey MayerfeldTrustee
Meir PollackTrustee
Michal SoclofTrustee
Rebecca Bar ShainTrustee
Richard UriaTrustee
Sara HurandTrustee
Yosef RudolphTrustee
Zev JacobyTrustee
Judy WeissTrustee for Life
Marla Comet-starkTrustee for Life
Meyer SendersTrustee for Life
Morry WeissTrustee for Life
Rabbi Melvin L GranatsteinTrustee for Life
Robert L StarkTrustee for Life
Susan FuchsTrustee for Life
Barbie TaubSecretary
Mitch WolfTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
De Grounds Building MaintenanceCleaning/landscaping14918 KINGSFORD AVENUE, Cleveland, OH 44128$184,243
Force SportsAthletic Services26555 RICHMOND RD, Bedford Heights, OH 44146$158,108
Revenue and Support

Revenue Composition

Contributions and Grants
$3,321,793
Program Service Revenue
$7,542,473
Investment Income
$352,164
Other Revenue
$-79,562
All Other Contributions
$1,977,629
Change in Net Assets
$-1,543,060

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,254,590
Revenue Not Reported on Financial Statements
$2,882,278
Revenue Not Reported on Form 990
$2,190,896
Other Revenue Adjustments
$2,882,278
Total Revenue per Audited Statements
$10,445,486
Total Revenue per Form 990
$11,136,868
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,607,734
Other Expenses$4,189,916
Grants and Similar Amounts Paid$2,882,278
Total Fundraising Expense$233,325
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,243,981$161,911$160,899$4,566,791
Grants to Domestic Individuals$2,882,278--$2,882,278
Depreciation Depletion$816,905$90,767$0$907,672
Interest$756,699$84,078$0$840,777
Occupancy$558,463$62,051$0$620,514
Other Employee Benefits$375,629$14,331$14,241$404,201
Payroll Taxes$281,398$10,735$10,669$302,802
Current Officers, Directors, Trustees, and Key Employees$230,678$8,801$8,745$248,224
Fees for Services Other$202,007--$202,007
Office Expenses$126,661$14,073$0$140,734
Pension Plan Contributions$79,657$3,039$3,020$85,716
Fees for Services Accounting$0$45,977$0$45,977
Other Expenses$39,020$6,320$50$39,020
All Other Expenses-$2,482$35,701$38,183
Fees for Services Legal$0$31,066$0$31,066
Total Functional Expenses$11,647,472$799,131$233,325$12,679,928

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$12,679,928
Total Expenses per Audited Statements$9,944,838
Expenses per Audited Statements$9,797,650
Expenses Not Reported on Financial Statements$2,882,278
Other Expense Adjustments$2,882,278
Expenses Not Reported on Form 990$147,188
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$128,834
Fundraising Gross Income$49,272
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$150,025$28,125$25,046$3,079
Networking$56,667$11,249$26,375$-15,126
Total Events$216,590$49,272$128,834$-79,562
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap$2,755,584
Accrued Pension Liability$1,670,833

Bond Issues

BondIssuerIssuedIssue PricePurpose
AColorado Educational and Cultural Facilities2018-02-01$24,708,870Refinance prior bond issue

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,708,870$0$24,500,000$208,870

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 2:

Leonard Fuchs & Susan Fuchs - Family Relationship Ezra Stark, Robert Stark & Marla Stark - Family Relationship Mitch Wolf & Laura Wolf - Family Relationship Jeffrey Wild & Danielle Wild - Family Relationship Morry Weiss & Judy Weiss - Family Relationship

FORM 990, PART VI, SECTION B, LINE 11:

Copies of the prepared Form 990 are submitted to the School's Finance and Executive Committees for review before filing. After filing, copies of the Form 990 are made available to the School's Board of Trustees.

FORM 990, PART VI, SECTION B, LINE 12C:

Members of the Board of Trustees annually receive a copy of the policy and complete a questionnaire to disclose any potential conflicts.

FORM 990, PART VI, SECTION B, LINE 15:

Compensation and adjustments are determined by comparing salaries with similar organizations throughout the country.

FORM 990, PART VI, SECTION C, LINE 19:

Fuchs mizrachi school does not make its governing documents, conflict of interest policy and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Fuchs Mizrachi Schools
EIN
34-1400924
In Care Of
% JASON NEDLEY
Phone
2169320220
Address
26600 SHAKER BLVD, BEACHWOOD, OH 44122

Signing Officer

Name
Rabbi Avery Joel
Title
head of school
Phone
2169320220
Signed
2019-03-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rabbi Avery Joel
Formed
1983
Legal Domicile
Oh
Voting Board Members
39
Independent Board Members
39
Employees
124
Volunteers
59

Preparer

Firm
Bdo USA Llp
Address
32125 SOLON ROAD STE 200, SOLON, OH 44139
Preparer
Jacob Cook
Phone
4402488787
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4A:

Upper school (6th grade through 12th grade) fuchs mizrachi high school is committed to nurturing each student so that they can achieve their emotional, intellectual, and religious potential. We offer a dual curriculum in both judaic and secular classes with students taking an average of nine periods daily. We adhere to the guidelines of the state of ohio and proudly boast of our success on the ohio graduation tests. There are parallel tracts, honors and college preparatory in each discipline to ensure that individual needs are met. Our students are sought out by the top universities in the country and have enjoyed great success in college. We encourage our students to continue their development by studying in israel immediately after high school and are delighted by the overwhelming majority of graduates who attend the finest institutions of higher learning in israel. In our effort to develop all aspects of our students' personalities, a full range of extracurricular activities are both offered and supported. Both boys and girls participate on athletic teams and our school sends a delegation to yeshiva university's model u.n. Annual competition. Students are involved in a myriad of projects assisting the community with the highlight being our two "let's make a difference" days. The school partners with local youth groups such as bnei akiva and ncsy where the children develop critical leadership skills. We believe that fuchs mizrachi graduates are ready to change the world.

FORM 990, PART III, LINE 4B:

Lower school (1st grade - 5th grade) as students are prepared for life in the twenty-first century, the critical role that general knowledge will play in their lives is recognized. As a result, reading, mathematics, science, language arts, social studies, health, use of technology, music, art and physical education are stressed as essential components of a well-balanced and comprehensive program of general studies. Analytical reasoning and conceptual understanding are emphasized beyond the mere acquisition of basic skills. Students participate in the kinds of learning programs that one would expect of any forward-thinking independedent school. There is a heavy emphasis on reading, creative writing, research and use of web-based materials. The school also provides support services for children with special needs. Extracurricular activities include sports, drama, newspaper and student council. Grades 1-6 are self-contained. Fuchs mizrachi school has emerged as a school respected for providing a balanced education that encourages curiosity and intellectual exploration. It fosters emphasis on total excellence and respect for differing ideas and beliefs.

FORM 990, PART III, LINE 4C:

Ecp (pre-nursery, pre-k, and kindergarten) the early childhood program at fuchs mizrachi school provides a safe and nurturing environment that promotes the physical, social, emotional, and cognitive development of young children in a developmentally appropriate way while responding to the needs of families. Faculty members create an environment that provides stimulating, challenging materials and activities for children integrating areas of secular and judaic knowledge. The teachers act as guides or facilitators as they closely observe to see what children understand; they then pose additional challenges to encourage further exploration. To attain our goals, the early childhood classrooms are set up in learning centers: blocks, dramatic play, science, math, creative arts and language arts. Throughout these centers, children are given many opportunities to explore materials and ideas in a context relevant to them thereby making their learning meaningful. All early childhood classes are supplemented by instruction in the areas of music, art and physical education by specialists in these areas. The early childhood program is fully licensed by the state of ohio department of job and family services (odjfs) and supported by a licensed early childhood program director.

FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:

Unrealized gain on interest rate swap 1,517,860 change in unfunded pension liability 362,206 uncollectible pledges -18,354 -------------- total to form 990, part xi, line 9: 1,861,712

Financial Statement Notes

PART V, LINE 4:

The school's endowment consists of eight individual funds established for the purpose of funding operating expenses of the school.

PART X, LINE 2:

The Internal Revenue Service has ruled that the School qualifies under section 501(c)(3) of the Internal Revenue Code and is, therefore, not subject to tax under present Federal income tax laws. The School has BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. INCOME TAXES ON UNRELATED BUSINESS INCOME, IF ANY, ARE PROVIDED AT THE APPLICABLE RATES ON INCOME FOR FINANCIAL REPORTING PURPOSES. The School follows GAAP for Uncertainty in Income Taxes. The Schools income tax filings are subject to audit by various taxing authorities. In evaluating the Schools activities, the School believes its position of tax-exempt status is appropriate based on current facts and circumstances. The School has assessed that there are no activities unrelated to the purpose of the School and therefore no tax is to be recognized for the years ended June 30, 2018 and 2017. It is the policy of the School to include in administrative expenses penalties and interest assessed by income taxing authorities. There are no penalties or interest from taxing authorities included in operating expenses for the years ended June 30, 2018 and 2017.

PART XI, LINE 2D- OTHER ADJUSTMENTS:

Expenses related to special events $128,834

PART XI, LINE 4B- OTHER ADJUSTMENTS:

Financial aid assistance $2,882,278

PART XII, LINE 2D- OTHER ADJUSTMENTS:

Expenses related to special events $128,834 uncollectible pledges $18,354 total to schedule d, part xii, line 2d $147,188

PART XII, LINE 4B- OTHER ADJUSTMENTS:

Financial aid assistance $2,882,278

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$62.2$27.5$34.7$14.8$15.2$0.39
2023Detailed filing. Detailed filing data is available for this year.$57.9$28.5$29.4$13.5$14.5$1.01
2022Detailed filing. Detailed filing data is available for this year.$56.0$30.4$25.5$12.8$13.7$0.93
2021Detailed filing. Detailed filing data is available for this year.$63.2$35.2$28.0$13.5$13.6$0.19
2020Detailed filing. Detailed filing data is available for this year.$54.2$40.0$14.2$11.2$13.3$2.11
2019Detailed filing. Detailed filing data is available for this year.$56.5$34.6$21.9$11.1$13.4$2.26
2018Detailed filing. Detailed filing data is available for this year.$58.1$31.7$26.4$11.1$12.7$1.54
2017Detailed filing. Detailed filing data is available for this year.$57.9$33.9$24.0$11.1$12.9$1.84
2016Detailed filing. Detailed filing data is available for this year.$55.6$37.9$17.7$11.3$12.7$1.45
2015Detailed filing. Detailed filing data is available for this year.$59.0$33.6$25.4$10.6$12.7$2.11
2014Detailed filing. Detailed filing data is available for this year.$60.7$31.6$29.1$9.73$12.0$2.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.2$31.7$26.5$10.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.6$35.6$19.0$10.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.2$29.6$27.6$10.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.7$31.1$24.6$7.87
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $50M-$100M nonprofits