Civic Intelligence

Shefa School

990 • Fiscal year 2023 • EIN 47-2048496

Jul 01, 2022 to Jun 30, 2023 • Filed on May 13, 2024

Refreshing map…

40 East 29th StreetNew York, NY 10016

(212) 873-1300

Siviq Scores

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

Liabilities / Assets

88th percentile

0.93x

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

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

11.59x

Higher debt load relative to revenue than 97% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

80th percentile

15%

Higher net margin than 80% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

34th percentile

$568,479

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

43rd percentile

3.5%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

71st percentile

12%

Faster revenue growth than 71% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Up

$272,764,391

Up $9,212,478 (+3.5%) from 2022

Net Assets

Up

$19,728,886

Up $3,270,742 (+20%) from 2022

Liabilities

Up

$253,035,505

Up $5,941,736 (+2.4%) from 2022

Revenue

Up

$21,828,978

Up $2,259,015 (+12%) from 2022

Expenses

Up

$18,569,184

Up $2,007,315 (+12%) from 2022

Net Income

Up

$3,259,794

Up $251,700 (+8.4%) from 2022

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2015: $1,411,415Liabilities 2015: $619,562Net Assets 2015: $791,8532015Assets 2016: $7,716,105Liabilities 2016: $2,229,162Net Assets 2016: $5,486,9432016Assets 2017: $8,370,022Liabilities 2017: $2,081,469Net Assets 2017: $6,288,5532017Assets 2018: $9,201,365Liabilities 2018: $2,936,538Net Assets 2018: $6,264,8272018Assets 2019: $9,729,030Liabilities 2019: $3,290,858Net Assets 2019: $6,438,1722019Assets 2020: $13,091,471Liabilities 2020: $4,852,952Net Assets 2020: $8,238,5192020Assets 2021: $21,335,767Liabilities 2021: $4,904,840Net Assets 2021: $16,430,9272021Assets 2022: $263,551,913Liabilities 2022: $247,093,769Net Assets 2022: $16,458,1442022Assets 2023: $272,764,391Liabilities 2023: $253,035,505Net Assets 2023: $19,728,8862023

Highlighted filing

2023

Assets$272,764,391
Liabilities$253,035,505
Net Assets$19,728,886

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2015: $1,814,051Expenses 2015: $1,022,198Net Income 2015: $791,8532015Revenue 2016: $7,620,550Expenses 2016: $2,844,460Net Income 2016: $4,776,0902016Revenue 2017: $5,530,191Expenses 2017: $6,040,390Net Income 2017: -$510,1992017Revenue 2018: $7,970,337Expenses 2018: $7,996,821Net Income 2018: -$26,4842018Revenue 2019: $9,990,205Expenses 2019: $9,808,429Net Income 2019: $181,7762019Revenue 2020: $12,523,017Expenses 2020: $10,722,670Net Income 2020: $1,800,3472020Revenue 2021: $21,521,359Expenses 2021: $13,328,951Net Income 2021: $8,192,4082021Revenue 2022: $19,569,963Expenses 2022: $16,561,869Net Income 2022: $3,008,0942022Revenue 2023: $21,828,978Expenses 2023: $18,569,184Net Income 2023: $3,259,7942023

Highlighted filing

2023

Revenue$21,828,978
Expenses$18,569,184
Net Income$3,259,794
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$22,057,372
Mission and Program Overview

Mission

The shefa school is a jewish community day school that serves childrenwho need a specialized educational environment in order to develop their strengths while addressing their learning challenges.

The shefa school is a jewish community day school that services children who need a specialized educational environment in order to develop their strengths while addressing their learning challenges

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,630,284$49,569,013▲ $27,938,729
Investments Other Securities$57,395,632$39,663,783▼ $17,731,849
Investments in Publicly Traded Securities$4,960,076$8,410,539▲ $3,450,463
Pledges and Grants Receivable$4,587,701$4,683,637▲ $95,936
Accounts Receivable$2,278,600$3,339,048▲ $1,060,448
Savings and Temporary Cash Investments$2,276,175$2,471,072▲ $194,897
Cash and Non-Interest-Bearing Accounts$2,614,163$577,396▼ $2,036,767
Prepaid Expenses and Deferred Charges$25,020$21,094▼ $3,926
Total Assets$263,551,913$272,764,391▲ $9,212,478
Other Assets Total$167,784,262$164,028,809▼ $3,755,453
Liabilities
Other Liabilities$168,586,204$169,849,858▲ $1,263,654
Tax Exempt Bond Liabilities$71,648,352$71,410,961▼ $237,391
Accounts Payable and Accrued Expenses$3,151,926$8,170,199▲ $5,018,273
Deferred Revenue$3,144,362$2,740,691▼ $403,671
Mortgage Notes Payable Secured by Investment Property$562,925$863,796▲ $300,871
Total Liabilities$247,093,769$253,035,505▲ $5,941,736
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,481,538$11,626,614▲ $2,145,076
Net Assets Without Donor Restrictions$6,976,606$8,102,272▲ $1,125,666
Total Net Assets Fund Balance$16,458,144$19,728,886▲ $3,270,742
Total Liabilities and Net Assets / Fund Balance$263,551,913$272,764,391▲ $9,212,478

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$48,247,023-$48,247,023
Leasehold Improvements$1,158,704$3,988,263$5,146,967
Equipment$163,286$428,525$591,811
Other Assets Org$452,935--
Other Securities$39,663,783--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ilana Ruskay-kiddHead of SchoolFT$451,715$116,764$568,479
Avi-yonah SchwabAssistant Head of SchoolFT$235,598$65,520$301,118
James HallidayChief Financial OfficerFT$232,999$37,397$270,396
Douglas LereaHead of Judiac StudiesFT$187,091$83,236$270,327
Naomi SchimmelHead of Lower SchoolFT$141,728$29,685$171,413
Ian CohenHead of Middle SchoolFT$147,538$14,855$162,393
Victoria MesslerHead of CurriculumFT$147,436$7,885$155,321

Board Members and Trustees

NameTitle
Simon ShemiaChairman Emertis
Robert FrostPresident
Dana RaucherVice President
Jeff FeigVice President
Ariela DublerTrustee
Avner MendelsonTrustee
Claire ShamahTrustee
Debra WassermanTrustee
Howard SalzbergTrustee
Jonathan SlonimTrustee
Joshua KazamTrustee
Joy LevittTrustee
Justin ZisesTrustee
Maya Kadar KovalskyTrustee
Ray LindenbaumTrustee
Robert BernsteinTrustee
Joshua SchwalbeSecretary
Judith RosenbergTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mc Gowan Builders INCConstruction160 E UNION AVENUE, East Rutherford, NJ 07073$10,367,541
Dattner Architects DpcArchitectural Design498 SEVENTH AVENUE 20TH FLOOR, New York, NY 10018$693,789
Bac Cleaning ServicesCleaning118 EVANS STREET, New Hyde Park, NY 11040$283,776
Envoie Projects LLCProject Management Services220 EAST 42ND STREET SUITE 408, New York, NY 10017$233,802
Ap Tristate Safety CorpSafety Services18-23 41ST STREET, Astoria, NY 11105$232,767
Revenue and Support

Revenue Composition

Contributions and Grants
$5,211,169
Program Service Revenue
$15,320,652
Investment Income
$613,460
Other Revenue
$683,697
All Other Contributions
$3,584,288
Change in Net Assets
$3,259,794

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,482,258
Revenue Not Reported on Financial Statements
$1,346,720
Revenue Not Reported on Form 990
$10,948
Other Revenue Adjustments
$1,346,720
Total Revenue per Audited Statements
$20,493,206
Total Revenue per Form 990
$21,828,978
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,654,858
Other Expenses$5,577,123
Grants and Similar Amounts Paid$1,328,578
Total Fundraising Expense$558,899
Professional Fundraising Fees$8,625

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,932,193$878,173$201,559$9,011,925
Occupancy$2,573,752$273,680$64,052$2,911,484
Grants to Domestic Individuals$1,326,078--$1,326,078
Depreciation Depletion$796,922$84,741$19,833$901,496
Current Officers, Directors, Trustees, and Key Employees$298,314$422,188$149,157$869,659
Payroll Taxes$632,067$87,264$21,395$740,726
Other Employee Benefits$616,806$57,518$9,388$683,712
Pension Plan Contributions$307,593$31,246$9,997$348,836
Travel$333,482--$333,482
Fees for Services Other$171,527$6,463$16,538$194,528
Office Expenses$89,378$49,655$26,931$165,964
Information Technology$108,463$3,367$8,417$120,247
Insurance$103,183$10,972$2,568$116,723
Fees for Services Accounting-$102,150-$102,150
Fees for Services Legal-$42,359-$42,359
Other Expenses$33,047$28,780$4,076$33,047
Advertising--$9,423$9,423
Fees for Services Professional Fundraising--$8,625$8,625
Conferences and Meetings$4,760$870$204$5,834
Grants to Domestic Orgs$2,500--$2,500
Total Functional Expenses$15,930,859$2,079,426$558,899$18,569,184

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$18,569,184
Expenses per Audited Statements$17,222,464
Total Expenses per Audited Statements$17,222,464
Expenses Not Reported on Financial Statements$1,346,720
Other Expense Adjustments$1,346,720
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$228,394
Fundraising Gross Income$68,850
Professional Fundraising Fees$8,625

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Shefa Annual Benefit$1,009,075$68,850$46,732$22,118
Total Events$1,009,075$68,850$228,394$-159,544
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liabilities$169,849,858

Bond Issues

BondIssuerIssuedIssue PricePurpose
ABuild Nyc Resource Corporation2021-08-04$73,142,390Renovation of school facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$73,755,110--$1,225,620

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
Yes
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
Business relationship with 35% controlled entity
No
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
No
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 B, Line 11B

Shefa school has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board finance committee for approval. Once the committee has approved the return it is filed with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

The organization has a written conflict of interest policy for its employees and board members. A conflict of interest arises when a financial, professional or personal affiliation or a transaction or other arrangement involving the shefa school, whether actual, pending or proposed, puts a person in a position in which his or her interests may not be, or may appear not to be, consistent with those of the shefa school. The conflict of interest policy is implemented and enforced by the audit committee. Those who are covered persons, meaning officers, directors, and key employees shall provide the secretary a copy of the conflict of interest policy that will be submitted to the chairperson of the committee. The organization regularly and consistently monitors and enforces the compliance with the coi policy by having each covered persons sign the disclosure statement each year.

Form 990, Part VI, Section B, Line 15A

A subcommittee of the board reviews and determines the compensation of the head of school. During this process, compensation is based on comparisons with other similar organizations, and studies. The approval process is documented in the board minutes. This process was last determined in 2021.

Form 990, Part VI, Section C, Line 19

The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the form 1023, financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.

Filing and Contact Details

Filer

Filer Name
Shefa School
EIN
47-2048496
Phone
2128731300
Address
40 EAST 29TH STREET, NEW YORK, NY 10016

Signing Officer

Name
Ilana Ruskay-kidd
Title
Head of School
Phone
2128731300
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ilana Ruskay-kidd
Formed
2014
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
18
Employees
131
Volunteers
50

Preparer

Firm
PKF O'CONNOR DAVIES ADVISORY LLC
Address
500 MAMARONECK AVENUE SUITE 301, HARRISON, NY 10528-1633
Preparer
Melissa Modelson
Phone
9143818900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has a committee that is responsible for the oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The school recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Management has determined that the school had no uncertain tax positions that would require financial statement recognition or disclosure. The school is no longer subject to examination by the applicable taxing jurisdictions for tax years prior to june 30, 2020.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Reclass financial aid netted against tuition to part ix, line 2 1,267,648. Reclass of financial aid netted against student services to part ix, line 2 58,430. Reclass of state of new york funding to part viii, line 5 20,642.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Reclass financial aid netted against tuition to part ix, line 2 1,267,648. Reclass of financial aid netted against student services to part ix, line 2 58,430. Reclass of state of new york funding to part viii, line 5 20,642.

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IRS990/ActivityOrMissionDesc0THE SHEFA SCHOOL IS A JEWISH COMMUNITY DAY SCHOOL THAT SERVICES CHILDREN WHO NEED A SPECIALIZED EDUCATIONAL ENVIRONMENT IN ORDER TO DEVELOP THEIR STRENGTHS WHILE ADDRESSING THEIR LEARNING CHALLENGES
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IRS990/Desc0THE SHEFA SCHOOL OFFERS FAMILIES A UNIQUE EDUCATIONAL CHOICE: HIGH-QUALITY, RESEARCH-BASED INSTRUCTION FOR CHILDREN WITH LANGUAGE-BASED LEARNING DISABILITIES THAT IS SEAMLESSLY INTEGRATED WITH JEWISH COMMUNITY, LEARNING, CULTURE, AND TRADITIONS. EACH CHILD'S UNIQUE GIFTS, TALENTS, SKILLS, AND INSIGHTS IS THE LAUNCHING POINT FOR AN INDIVIDUALIZED INSTRUCTIONAL PLAN THAT FOSTERS ACADEMIC, SOCIAL, AND EMOTIONAL COMPETENCE AND CONFIDENCE. BY CELEBRATING A CHILD'S STRENGTHS, ENCOURAGING THEIR INTERESTS, AND GIVING THEM THE TOOLS TO OVERCOME THEIR CHALLENGES, WE CREATE A WARM, SUPPORTIVE COMMUNITY, WHERE STUDENTS FEEL UNDERSTOOD, ACCEPTED, AND VALUED. FOR THE 2022-2023 FISCAL YEAR THE SCHOOL ENROLLED 211 STUDENTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt21HEAD OF JUDIAC STUDIES
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IRS990/MissionDesc0THE SHEFA SCHOOL IS A JEWISH COMMUNITY DAY SCHOOL FOR CHILDREN WITH LANGUAGE-BASED LEARNING DISABILITIES. SHEFA IS HEBREW FOR ABUNDANCE, REFLECTING OUR BELIEF THAT EACH CHILD POSSESSES ABUNDANT STRENGTHS. OUR MISSION IS TO BUILD UPON THESE STRENGTHS WHILE TEACHING STUDENTS THE SKILLS TO OVERCOME THEIR CHALLENGES IN A CARING AND SUPPORTIVE SCHOOL COMMUNITY THAT SEAMLESSLY INTEGRATES JEWISH VALUES AND TRADITIONS. EMBRACING FAMILIES FROM A RANGE OF JEWISH BACKGROUNDS AND PRACTICES, SHEFA NURTURES OUR STUDENTS' JEWISH IDENTITY AND TEACHES THE SKILLS TO ENABLE THEM TO PARTICIPATE FULLY IN JEWISH LIFE.WE PRIORITIZE EACH CHILD'S LEARNING NEEDS BY PROVIDING EXCELLENT, INDIVIDUALIZED, RESEARCH-BASED INSTRUCTION TO FOSTER ACADEMIC, SOCIAL, AND EMOTIONAL COMPETENCE AND CONFIDENCE. WE EMPOWER STUDENTS TO BECOME ACTIVE, JOYFUL, LIFELONG LEARNERS, CRITICAL THINKERS, KIND AND RESPONSIBLE INDIVIDUALS, AND CONTRIBUTING MEMBERS OF THE JEWISH COMMUNITY AND THE BROADER WORLD.
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