2025-05-14T09:26:12-05:00 2024-06-30 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2023-07-01 270400583 FRIENDS OF HEBREW LANGUAGE ACADEMY CHARTER SCHOOLS INC FRIE 6468969478 25 WEST 39TH STREET 7TH FLOOR NEW YORK NY 10018 ELYSE CASTELLANO CFO 6468969478 2025-05-13 1 1 MICHELLE CAIN P00150750 5854231860 2025-05-14 2023 2025-03-06 01:10:19Z ELYSE CASTELLANO 25 WEST 39TH STREET 7TH FLOOR NEW YORK NY 10018 3959890 0 X N/A X 2009 NY FRIENDS OF HEBREW LANGUAGE ACADEMY CHARTER SCHOOLS, INC., ("FOHLA") WAS FOUNDED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE PURPOSES OF, HEBREW LANGUAGE CHARTER SCHOOLS IN NEW YORK STATE. 2 2 0 2 0 0 1000 0 5432672 1482735 0 0 0 2477155 5433672 3959890 0 0 0 0 0 0 0 0 0 12407699 4009828 12407699 4009828 -6974027 -49938 73233545 17591297 76724413 21132103 -3490868 -3540806 X FRIENDS OF HEBREW LANGUAGE ACADEMY CHARTER SCHOOLS, INC., ("FOHLA") WAS FOUNDED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE PURPOSES OF, HEBREW LANGUAGE CHARTER SCHOOLS IN NEW YORK STATE. 0 1 4004861 1482735 FOR THE YEAR ENDED JUNE 30, 2024, THE ORGANIZATION PROVIDED PROGRAMMATIC EXPENSE OF APPROXIMATELY $4,004,861 TO SUPPORT HEBREW LANGUAGE CHARTER SCHOOLS, LOCATED IN BROOKLYN, NY. SUCH SUPPORT INCLUDED OPERATING FUNDS TO ENABLE THE LEASING OF CLASSROOM SPACE AND THE FURNISHING OF RELATED REPAIRS & MAINTENANCE. 4004861 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 2 2 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X ELYSE CASTELLANO 6468969478 25 WEST 39TH STREET 7TH FLOOR NEW YORK NY 10018 X JONATHAN ROSENBERG DIRECTOR 1.00 55.00 X 0 0 0 ELYSE CASTELLANO CHIEF FINANCIAL AND OPERAT 1.00 55.00 X X 0 0 0 0 0 0 0 0 0 0 MILL AVENUE DEVELOPMENT 54 REGENTS DRIVE LIDO BEACH NY 11561 RENT 1617732 1 X RENTAL INCOME 531120 1482735 1482735 1482735 FORGIVENESS OF DEBT 900099 12807788 12807788 GAIN ON EARLY TERMINATION OF LEAS 900099 5479417 5479417 NYC PROPERTY TAX ABATEMENT 900099 1768317 1768317 -17578367 -17578367 2477155 3959890 1482735 0 2477155 1345 1345 23500 23500 6888 6888 2841680 2841680 1070730 1070730 32009 27042 4967 MISCELLANEOUS 23129 23129 REPAIRS AND OTHER 10547 10547 4009828 4004861 4967 0 645379 874310 20000 0 589385 642241 134811 191417 191417 17578367 0 54400414 15939935 73233545 17591297 183585 163148 12632406 0 2610235 2610236 61298187 18358719 76724413 21132103 X -3490868 -3540806 -3490868 -3540806 73233545 17591297 -49938 0 X X 0 1 X 1 0 X 1000 11000 5000 1000 0 18000 1000 11000 5000 1000 18000 18000 10393 10393 28393 25528813 0.63400 0.77940 X 191417 191417 0 0 SECURITY DEPOSIT 314409 RIGHT-OF-USE ASSETS - OPERATING 15625526 15939935 SECURITY DEPOSITS 199498 LEASE LIABILITIES - OPERATING 18159221 18358719 X 3978078 18188 18188 3959890 0 3959890 4028016 18188 18188 4009828 0 4009828 PART X, LINE 2: THE ORGANIZATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE REGULATIONS AND ACCORDINGLY, IS EXEMPT FROM FEDERAL AND STATE TAXES ON INCOME. THE ORGANIZATION FILES TAX RETURNS IN VARIOUS JURISDICTIONS AND IS SUBJECT TO POTENTIAL EXAMINATION BY TAXING AUTHORITIES, THE ORGANIZATION'S CURRENT AND PRIOR THREE YEARS TAX RETURNS REMAIN SUBJECT TO REVIEW BY TAXING AUTHORITIES. MANAGEMENT OF THE ORGANIZATION BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS, AND ACCORDINGLY, IT HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. FORM 990, PART I, LINE 1: FRIENDS OF HEBREW LANGUAGE ACADEMY CHARTER SCHOOLS, INC., ("FOHLA") WAS FOUNDED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE PURPOSES OF, HEBREW LANGUAGE CHARTER SCHOOLS IN NEW YORK STATE. FORM 990, PART III, LINE 3 THE ORGANIZATION CEASED OPERATING THE HEBREW LANGUAGE CHARTER SCHOOL IN HARLEM, NY DURING THE TAX YEAR. FORM 990, PART VI, SECTION A, LINE 2 JONATHAN ROSENBERG, DIRECTOR; AND ELYSE CASTELLANO, CFO; ARE OFFICERS OF HEBREW PUBLIC'S BOARD, ANOTHER 501(C)(3) ENTITY DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE AND THEN SUBMITTED TO THE BOARD OF DIRECTORS PRIOR TO FILING. IF THE BOARD OF DIRECTORS HAVE ANY QUESTIONS THEY ARE ADDRESSED. FORM 990, PART VI, SECTION B, LINE 12C UPON BEING ELECTED TO THE BOARD AND THEREAFTER ON AN ANNUAL BASIS, AS LONG AS A DIRECTOR REMAINS A MEMBER OF THE BOARD, DIRECTORS SHALL COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE AND ACKNOWLEDGMENT OF SUCH CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS, AS DEFINED BY THE POLICY, ARE REQUIRED TO BE REPORTED TO AND ARE VETTED BY THE BOARD. FOHLA'S PRACTICE IS TO HAVE A BOARD MEMBER RECUSE THEMSELVES FROM A VOTE ON A CONTRACT OR TRANSACTION WHERE THERE IS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIALS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. PART VIII, LINE 11A: LEASE TERMINATION AND GAIN (LOSS) RECOGNITION DURING THE TAX YEAR, THE ORGANIZATION TERMINATED A LEASE AGREEMENT FOR SPACE TO BE USED AS A SCHOOL IN HARLEM, NY. IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION (ASC) 842, "LEASES", THE ORGANIZATION RECOGNIZED A GAIN ON TERMINATION CALCULATED AS FOLLOWS: CARRYING AMOUNT OF RIGHT-OF-USE (ROU) ASSETS AT TERMINATION: $ 36,258,598 CARRYING AMOUNT OF CORRESPONDING LEASE LIABILITY AT TERMINATION: $ 41,738,015 TERMINATION COSTS INCURRED: $ NONE PROCEEDS RECEIVED UPON TERMINATION: $ NONE THE NET GAIN OF $ 5,479,417 REFLECTS THE ORGANIZATION'S COMMITMENT TO PRUDENT FINANCIAL MANAGEMENT AND ADHERENCE TO CURRENT ACCOUNTING STANDARDS. IN ADDITION, THE ORGANIZATION HAD $21,771,659 IN LEASEHOLD IMPROVEMENTS RELATED TO THIS LEASE, WHICH WERE WRITTEN OFF IN THE CURRENT YEAR DUE TO THE TERMINATION. AT THE TIME OF THE WRITE-OFF, THESE LEASEHOLD IMPROVEMENTS HAD ACCUMULATED AMORTIZATION OF $4,193,292. A LOSS OF $17,578,367 WAS RECOGNIZED DURING THE TAX YEAR. THESE IMPROVEMENTS WERE FINANCED THROUGH A BANK LOAN THAT WAS FOREGIVEN DURING THE TAX YEAR RESULTING IN A FORGIVENESS OF DEBT AND ACCRUED INTEREST OF $12,807,788. PART VIII, LINE 11A: PROPERTY TAX ABATEMENT DURING THE TAX YEAR, THE ORGANIZATION RECEIVED A PROPERTY TAX ABATEMENT OF $1,768,317 FROM THE NYC DEPARTMENT OF FINANCE FOR REAL ESTATE TAXES PAID ON THE HARLEM, NY PROPERTY IN PRIOR TAX YEAR. FORM 990, PART XI, LINE 2C THE BOARD HAS NOT CHANGED ITS PROCESS FOR SELECTING THE INDEPENDENT AUDITOR NOR HAVE THEY CHANGED THE OVERSIGHT OF THE AUDIT FROM PRIOR YEARS. NATIONAL CTR FOR HEBREW LANGUAGE CHARTER SCHOOL EXCELLENCE & DEVELOPMENT 25 WEST 39TH STREET 7TH FLOOR NEW YORK NY 10018 264077251 ASSIST CHARTER SCHOOLS THAT TEACH MODERN HEBREW TO CHILDREN OF ALL BACKGROUN NY 501(C)(3) LINE 7 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NATIONAL CTR FOR HEBREW LANGUAGE CHARTER SCHOOL EXCELLENCE & DEVELOPMENT I D 319223 CASH