2016-05-12T11:30:31-05:00 2015-06-30 PricewaterhouseCoopers LLP 300 Madison Avenue New York NY 10017 990 2014-07-01 200247649 YESHIVA UNIVERSITY HIGH SCHOOLS % JACOB E HARMAN CFO YESH 6465924005 2540 AMSTERDAM AVENUE NEW YORK NY 10033 JACOB E HARMAN CFO 6465924005 2016-05-05 true LAURA J PARELLO P01080295 6464713000 2014 2016-08-17 19:52:53Z RABBI JOSH JOSEPH 2540 AMSTERDAM AVENUE NEW YORK NY 10033 22859220 false X YUHSB.ORG AND YUHSG.ORG X 2003 NY THE PRIMARY MISSION OF THE YESHIVA UNIVERSITY HIGH SCHOOLS IS TO TEACH AND PERPETUATE THE VALUES OF TORAH AND SECULAR STUDIES. SEE SCHEDULE O 25 25 163 25 -3637 -3637 1671524 4087517 13679866 13613062 871635 526842 -48108 65198 16174917 18292619 4238476 3642982 0 0 11398663 10014085 0 0 278147 7322462 7022400 22959601 20679467 -6784684 -2386848 20660432 20432318 2791871 2444001 17868561 17988317 X THE YESHIVA UNIVERSITY HIGH SCHOOLS HAS AS ITS EDUCATIONAL MISSION TO TEACH AND PERPETUATE THE VALUES OF TORAH AND SECULAR STUDIES. SEE SCHEDULE O. false false 18637740 3642982 13613062 YESHIVA UNIVERSITY HIGH SCHOOLS ("THE HIGH SCHOOLS") IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE. THE HIGH SCHOOLS, WHICH CONSISTS OF THE MARSHA STERN TALMUDICAL ACADEMY YESHIVA UNIVERSITY HIGH SCHOOL FOR BOYS AND THE SAMUEL H. WANG YESHIVA UNIVERSITY HIGH SCHOOL FOR GIRLS, MAINTAINS SEPARATE SECONDARY SCHOOL PROGRAMS FOR BOYS AND GIRLS. INSTRUCTION IS PROVIDED TO APPROXIMATELY 555 HIGH SCHOOL STUDENTS. THE HIGH SCHOOLS OFFER COLLEGE PREPARATORY PROGRAMS AND COMPREHENSIVE JEWISH STUDIES PROGRAMS LEADING TO A NEW YORK STATE REGENTS DIPLOMA. THE SCHOOLS ARE ACCREDITED BY BOTH THE NEW YORK STATE BOARD OF REGENTS AND THE MIDDLE STATES COMMISSION ON SECONDARY EDUCATION. 18637740 true true false false false false false false false true true true false false true false true false true true true false false false true false false false true true false false false false false false false false false false false false false true false false false true X 0 0 true 0 true true true false false false false true true false false false false X 25 25 true false false false false false false true true false false true true true true true true true true false X JACOB E HARMAN CFO 6465924005 YESHIVA UNIVERSITY 500 WEST 185TH S NY NY 10033 X RICHARD M JOEL PRESIDENT/TRUSTEE 1.0 0.0 X X 0 0 0 RABBI JOSH JOSEPH SENIOR VP/TRUSTEE 5.0 0.0 X X 0 0 0 MIRIAM P GOLDBERG CHAIR/TRUSTEE 1.0 0.0 X 0 0 0 JUDITH HECHT BERMAN TRUSTEE 1.0 0.0 X 0 0 0 DR FELIX L GLAUBACH TRUSTEE 1.0 0.0 X 0 0 0 ALAN E GOLDBERG TRUSTEE 1.0 0.0 X 0 0 0 ALISSA HORN TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL JESSELSON TRUSTEE 1.0 0.0 X 0 0 0 RABBI E SAMUEL KLIBANOFF TRUSTEE 1.0 0.0 X 0 0 0 DR RAMA KOSLOWE TRUSTEE 1.0 0.0 X 0 0 0 DR HENRY KRESSEL TRUSTEE 1.0 0.0 X 0 0 0 ELIOT LAUER TRUSTEE 1.0 0.0 X 0 0 0 DAVID B SCHWARTZ TRUSTEE 1.0 0.0 X 0 0 0 LOUIS TUCHMAN TRUSTEE 1.0 0.0 X 0 0 0 HARVEY WRUBEL TRUSTEE 1.0 0.0 X 0 0 0 SHARON DANE TRUSTEE 1.0 0.0 X 0 0 0 DEBORAH ABITTAN TRUSTEE 1.0 0.0 X 0 0 0 RABBI STEVEN BURG TRUSTEE 1.0 0.0 X 0 0 0 SHEON KAROL TRUSTEE 1.0 0.0 X 0 0 0 ALIZA WEIN MERMELSTEIN TRUSTEE 1.0 0.0 X 0 0 0 DOVIE QUINT TRUSTEE 1.0 0.0 X 0 0 0 LAIZER KORNWASSER TRUSTEE 1.0 0.0 X 0 0 0 DAVID OTTENSOSER TRUSTEE 1.0 0.0 X 0 0 0 DONNY ROSENBERG TRUSTEE 1.0 0.0 X 0 0 0 STEVEN TEICHMAN TRUSTEE 1.0 0.0 X 0 0 0 JACOB HARMAN VP & CFO BEGAN JULY 2014 1.0 0.0 X 0 0 0 ANDREW LAUER VP FOR LEGAL AFFAIRS 1.0 0.0 X 0 0 0 CHAYA NEUGROSCHL HEAD OF SCHOOL - GIRLS 35.0 0.0 X 152366 0 128195 MICHAEL TAUBES HEAD OF SCHOOL - BOYS 35.0 0.0 X 234683 0 36987 RABBI STEVEN RICHTER ASST PRINCIPAL - TEACHER 35.0 0.0 X 75100 0 104925 RABBI GARY BEITLER TEACHER - PROGRAM DIRECTOR 35.0 0.0 X 108978 0 92693 SETH TAYLOR PRINCIPAL 35.0 0.0 X 146344 0 28612 RABBI SHIMON SCHENKER DIRECTOR LEARNING CENTER 35.0 0.0 X 99038 0 59302 ERIC SLOMNICKI ASST PRINCIPAL 35.0 0.0 X 126209 0 56237 942718 0 506951 17 false true false ALLWAYS EAST TRANSPORTATION INC 870 NEPPERHAN AVE YONKERS NY 10703 TRANSPORTATION 1519707 CITYWIDE GENERAL CLEANING MNT 244 5TH AVENUE NEW YORK NY 10001 FACILITY MAINTENANCE 200650 MILLER FRIEL PLLC 1200 NEW HAMPSHIRE AVE NW WASHINGTON DC 20036 CONSULTING 249678 3 X 143339 1651613 2292565 18512 4087517 STUDENT TUITION & FEES 900099 13020151 13020151 STUDENT DORM/FOOD/TRANSPORTATION 900099 74120 74120 PTACH PROGRAM FOR CHILDREN WITH DISABILITIES 900099 147000 147000 STUDENT EDUCATION PROGRAMS 900099 371791 371791 13613062 198443 -3637 202080 0 0 0 0 0 4831818 4503419 328399 328399 328399 18900 143339 63182 -44282 -44282 0 0 INSURANCE RECOVERY 109480 109480 109480 18292619 13613062 -3637 595677 X 0 3642982 3642982 0 0 493679 493679 0 7552769 7399491 153278 180568 177648 2920 1170692 1145564 25128 616377 603147 13230 0 280875 280875 52104 52104 0 0 0 331378 331378 25095 18974 6121 509519 477258 32261 72346 72346 0 85725 85629 96 1597034 1594264 2770 0 11004 9854 1150 0 0 322606 322606 34635 34635 ALLOCATED EXPENSES 1624141 990770 633371 STUDENT ACTIVITY 857027 822070 34957 TUITION WRITEOFF/BAD DEBT 406155 406155 SECURITY 439918 373215 66703 372838 309033 57569 6236 20679467 18637740 1763580 278147 114862 160057 0 0 871583 694610 1977326 2194230 0 0 0 0 0 0 0 0 0 0 5215633 2780845 2752824 2434788 8293516 8151278 6650321 6797355 0 0 0 0 0 0 20660432 20432318 2320915 1906971 0 0 450111 534651 0 0 0 0 0 0 0 0 0 0 20845 2379 2791871 2444001 X 1143267 1085110 7386133 7176283 9339161 9726924 17868561 17988317 20660432 20432318 X -2386848 -111814 2618418 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14538853 356221 415028 295222 458036 0 14556844 13760350 211300 1456521 291528 597790 0 14538853 12142129 96800 1946933 287631 137881 0 13760350 12589169 57260 130210 305313 329197 0 12142129 12314450 51800 1915684 818252 874513 0 12589169 0.05028 0.64650 0.30322 true false 435000 435000 4495881 2532741 1963140 284752 248104 36648 2434788 ALTERNATIVE INVESTMENTS 6797355 F 6797355 0 TRUSTS HELD FOR OTHERS 2379 OTHER LIABILITIES 0 2379 17219423 -111814 2618418 2506604 14712819 3579800 3579800 18292619 17099667 63182 63182 17036485 3642982 3642982 20679467 FORM 990, SCHEDULE D, PART V, LINE 4 THE HIGH SCHOOLS' ENDOWMENT FUNDS ARE INTENDED FOR STUDENT SCHOLARSHIPS AND PRIZES, INSTRUCTION AND TRAINING. FORM 990, SCHEDULE D, PART XI, AND XII SCHEDULE D, PART XI, LINE 2D: SUBSIDY FROM YESHIVA UNIVERSITY: $2,617,173 CHANGE IN VALUE-SPLIT INTEREST AGREEMENTS: 1,245 ------------- TOTAL $2,618,418 SCHEDULE D, PART XI, LINE 4B: RECLASS OF SCHOLARSHIP EXPENSES: $3,642,982 RECLASS OF SPECIAL EVENT EXPENSES: (63,182) ----------- TOTAL $3,579,800 SCHEDULE D, PART XII, LINE 2D: RECLASS OF SPECIAL EVENT EXPENSES: $ 63,182 SCHEDULE D, PART XII, LINE 4B: RECLASS OF SCHOLARSHIP EXPENSES: $3,642,982 SUBSIDY FROM YESHIVA UNIVERSITY - YESHIVA UNIVERSITY ACTS AS AN AGENT FOR THE HIGH SCHOOLS, PROVIDING ACCOUNTING, TREASURY OPERATIONS, HUMAN RESOURCES, PROCUREMENT AND OTHER ADMINISTRATIVE SERVICES AS WELL AS FACILITIES MAINTENANCE AT COST. IN ADDITION, THE UNIVERSITY PROVIDES A SUBSIDY FOR THE HIGH SCHOOLS' OPERATING DEFICITS. THE COMBINED ALLOCATED EXPENSES AND OPERATING DEFICITS SUBSIDIZED BY YESHIVA UNIVERSITY FOR THE FISCAL YEAR ENDED JUNE 30, 2015 WAS $2,617,173. THE SUBSIDY HAS NOT BEEN TREATED AS REVENUE FOR FORM 990 PURPOSES. FIN 48 EFFECTIVE JULY 1, 2007, THE HIGH SCHOOLS ADOPTED THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AN INTERPRETATION OF FASB STATEMENT NO. 109 (FIN 48). FIN 48 CLARIFIED THE ACCOUNTING FOR UNCERTAIN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FIN 48 ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. THERE WAS NO MATERIAL IMPACT TO THE HIGH SCHOOL'S FINANCIAL STATEMENTS AS A RESULT OF THE ADOPTION OF FIN 48 OR IN THIS REPORTING YEAR. THEREFORE, NO FIN 48 FOOTNOTE WAS INCLUDED IN THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2015. SCHEDULE D, PART VII - INVESTMENTS THE HIGH SCHOOLS' ALTERNATIVE INVESTMENTS AND PUBLICLY TRADED SECURITIES PRIMARILY REPRESENT OWNERSHIP INTERESTS IN THE YESHIVA UNIVERSITY CONSOLIDATED INVESTMENT POOL. THE HIGH SCHOOLS ALSO HAS CERTAIN SEPARATELY INVESTED ASSETS WHICH ARE ALSO MANAGED BY YESHIVA UNIVERSITY. true true true true true true true false false false false false false false false true false true SCHEDULE E - PART I - LINE 3 RECRUITMENT ADVERTISEMENTS CONTAIN THE HIGH SCHOOLS' NON-DISCRIMINATION POLICY SCHEDULE E - PART I - LINE 6 YESHIVA UNIVERSITY HIGH SCHOOLS RECEIVED FUNDS FROM THE NEW YORK STATE EDUCATION DEPARTMENT DURING FY 2015 IN THE AMOUNT OF $1,651,613. THE HIGH SCHOOLS' RIGHT TO SUCH AID HAS NEVER BEEN REVOKED OR SUSPENDED. Middle East and North Africa 6 Program Services EDUCATION 112209 Middle East and North Africa Investments N/A 47713 6 6 159922 159922 false false false false false false FORM 990, SCHEDULE F, PART I, LINE 3- DETAILS OF ACTIVITIES OUTSIDE THE US ISRAEL EXCHANGE PROGRAM: A SELECT GROUP OF OUTSTANDING 10TH GRADERS FROM THE MARSHA STERN TALMUDICAL ACADEMY YESHIVA UNIVERSITY HIGH SCHOOL FOR BOYS (YUHSB) AND FROM THE SAMUEL H. WANG YESHIVA UNIVERSITY HIGH SCHOOL FOR GIRLS (YUHSG) PARTICIPATE IN A SIX-WEEK STUDENT EXCHANGE PROGRAM WITH ISRAELI HIGH SCHOOLS. THIS PROGRAM PROVIDES AN OPPORTUNITY FOR YUHSB AND YUHSG STUDENTS TO OBTAIN AN EXPERIENTIAL APPRECIATION FOR THE TORAH OF ERETZ ISRAEL AND PROVIDES THE STUDENTS WITH SERIOUS RELIGIOUS AND INTELLECTUAL GROWTH. INVESTMENTS - THE INVESTMENTS REPORTED IN SCHEDULE F REPRESENT STATE OF ISRAEL BONDS. DINNER 162239 143339 18900 0 850 0 36192 0 26140 NONE 0 162239 143339 18900 0 850 0 36192 0 26140 63182 -44282 true STUDENT SCHOLARSHIPS 406 3642982 FORM 990, SCHEDULE I, PART I & III - SUPPLEMENTAL INFORMATION THE HIGH SCHOOLS OFFERS ASSISTANCE TO ITS STUDENTS THROUGH MERIT BASED SCHOLARSHIPS AND NEED BASED FINANCIAL AID. MERIT BASED SCHOLARSHIPS ARE AWARDED BASED ON THE DECISIONS OF A COMMITTEE COMPRISED OF FACULTY AND EDUCATION LEADERSHIP BASED ON A VARIETY OF CHARACTER BASED ACADEMIC CRITERIA. NEED BASED FINANCIAL AID IS AWARDED BY THE OFFICE OF STUDENT FINANCE BASED BOTH ON THE RECOMMENDATION OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND THE HIGH SCHOOLS' OWN INDEPENDENT ASSESSMENT OF A FAMILY'S ABILITY TO PAY. X true true X X X X X X false false false false false false false false false RABBI STEVEN RICHTER ASST PRINCIPAL - TEACHER 74745 0 0 0 355 0 2808 0 102117 0 180025 0 0 0 RABBI GARY BEITLER TEACHER - PROGRAM DIRECTOR 108734 0 0 0 244 0 3361 0 89332 0 201671 0 0 0 SETH TAYLOR PRINCIPAL 145828 0 0 0 516 0 3060 0 25552 0 174956 0 0 0 RABBI SHIMON SCHENKER DIRECTOR LEARNING CENTER 98967 0 0 0 71 0 0 0 59302 0 158340 0 0 0 CHAYA NEUGROSCHL HEAD OF SCHOOL - GIRLS 152246 0 0 0 120 0 5100 0 123095 0 280561 0 0 0 MICHAEL TAUBES HEAD OF SCHOOL - BOYS 234167 0 0 0 516 0 0 0 36987 0 271670 0 0 0 ERIC SLOMNICKI ASST PRINCIPAL 126101 0 0 0 108 0 0 0 56237 0 182446 0 0 0 FORM 990, SCHEDULE J, PART II - DETAILS OF COMPENSATION RABBI MICHAEL TAUBES - COLUMN D INCLUDES NON-TAXABLE MEDICAL AND TUITION BENEFITS. CHAYA NEUGROSCHL - COLUMN C INCLUDES EMPLOYER CONTRIBUTIONS TO A SECTION 403(B) RETIREMENT PLAN. COLUMN D INCLUDES NON-TAXABLE MEDICAL BENEFITS AND THE PORTION OF MS. NEUGROSCHL'S SALARY THAT IS DEISGNATED AS NON-TAXABLE PARSONAGE. RABBI STEVEN RICHTER - COLUMN C INCLUDES EMPLOYER CONTRIBUTIONS TO A SECTION 403(B) RETIREMENT PLAN. COLUMN D INCLUDES NON-TAXABLE TUITION BENEFITS AND THE PORTION OF RABBI RICHTER'S SALARY THAT IS DESIGNATED AS NON-TAXABLE PARSONAGE. RABBI GARY BEITLER - COLUMN C INCLUDES EMPLOYER CONTRIBUTIONS TO A SECTION 403(B) RETIREMENT PLAN. COLUMN D INCLUDES THE FOLLOWING NON-TAXABLE BENEFITS; MEDICAL BENEFITS AND THE PORTION OF RABBI BEITLER'S SALARY THAT IS DESIGNATED AS NON-TAXABLE PARSONAGE. A PORTION OF RABBI BEITLER'S TOTAL COMPENSATION IS EARNED FROM SERVICES PERFORMED FOR THE RABBI ISAAC ELCHANAN THEOLOGICAL SEMINARY (RIETS), AN AFFILIATED, BUT UNRELATED ORGANIZATION FOR FORM 990 PURPOSES, OF THE HIGH SCHOOLS. RABBI SHIMON SCHENKER - COLUMN D INCLUDES THE FOLLOWING NON-TAXABLE BENEFITS; MEDICAL BENEFITS AND THE PORTION OF RABBI SCHENKER'S SALARY THAT IS DESIGNATED AS NON-TAXABLE PARSONAGE. RABBI ERIC SLOMNICKI - COLUMN D INCLUDES THE FOLLOWING NON-TAXABLE BENEFITS; MEDICAL BENEFITS AND THE PORTION OF RABBI SCHENKER'S SALARY THAT IS DESIGNATED AS NON-TAXABLE PARSONAGE. SETH TAYLOR - COLUMN C INCLUDES EMPLOYER CONTRIBUTIONS TO A SECTION 403(B) RETIREMENT PLAN. COLUMN D INCLUDES NON-TAXABLE MEDICAL BENEFITS FORM 990, PART VII, LINE 5 AND SCHEDULE J COMPENSATION FROM UNRELATED ORGANIZATION THE HIGH SCHOOLS' PRESIDENT, SENIOR VICE PRESIDENT, CFO/VP FOR BUSINESS AFFAIRS, AND VP FOR LEGAL AFFAIRS ARE ALSO OFFICERS OF YESHIVA UNIVERSITY, AN AFFILIATED BUT UNRELATED ORGANIZATION FOR FORM 990 REPORTING PURPOSES. THE UNIVERSITY PROVIDES CERTAIN FINANCIAL, ADMINISTRATIVE, LEGAL, FACILITIES AND HUMAN RESOURCE SERVICES TO THE HIGH SCHOOLS. THESE OFFICERS ARE PAID SOLELY BY YESHIVA UNIVERSITY THROUGH THE UNIVERSITY'S PAYROLL SYSTEM AND THEIR FULL COMPENSATION AND BENEFITS ARE REPORTED ON YESHIVA UNIVERSITY'S FORM 990. FORM 990, SCHEDULE J, PART I PART I, LINE 1A - THE HOUSING ALLOWANCE REFERS TO THE PARSONAGE SALARY DESIGNATION RECEIVED BY CERTAIN EMPLOYEES LISTED IN PART VII AND DETAILED ABOVE. FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION YESHIVA UNIVERSITY HIGH SCHOOL FOR BOYS: GUIDED BY THE VISION OF THE RAV, ZT"L, AND HIS PREMIER TALMIDIM WHO NOW LEAD OUR YESHIVA, YUHSB STANDS FOR EXCELLENCE IN CHINUCH, DEFINED BY THE ACHIEVEMENT OF SIGNIFICANT ACCOMPLISHMENTS IN TORAH LEARNING AND AN UNWAVERING COMMITMENT TO THE TORAH WAY OF LIFE, BY A SERIOUS AND RIGOROUS APPROACH TO THE STUDY OF SCIENCE AND THE HUMANITIES, AND BY THE INSTILLING OF A STRONG AND PASSIONATE LOVE FOR ERETZ YISRAEL AND A GENUINE SENSE OF CONCERN FOR EVERY MEMBER OF KLAL YISRAEL AND FOR ALL OF HASHEM'S CREATIONS. YESHIVA UNIVERSITY HIGH SCHOOL FOR GIRLS: OUR DISTINGUISHED HISTORY IN JEWISH EDUCATION DATES BACK TO 1948. OUR VISION IS AS INNOVATIVE AND AS FORWARD LOOKING AS THE 21ST CENTURY ITSELF. THE SPIRITUAL AND ACADEMIC LIFE OF YESHIVA UNIVERSITY HIGH SCHOOL FOR GIRLS IS BUILT UPON THE PHILOSOPHY OR TORAH U'MADDA L'KHATCHILA. WE BELIEVE THAT THE STUDY OF TORAH WITH OTHER KNOWLEDGE RESULTS IN A HEIGHTENED AND ENRICHED JUDAISM. WE ARE DEDICATED TO PREPARING OUR STUDENTS BOTH AS KNOWLEDGEABLE, HALAKHICALLY COMMITTED JEWS AND AS BROADLY EDUCATED, INTELLECTUALLY CURIOUS, AND CARING MEMBERS OF THE GENERAL SOCIETY, STRIVING TO BECOME EVEN MORE DEVOTED TO G-D, TORAH LEARNING, PERSONAL INTEGRITY AND ETHICAL BEHAVIOR. IDENTIFICATION WITH THE DESTINY OF OUR FELLOW JEWS AROUND THE WORLD, LOYALTY TO ERETZ YISRAEL, AND THE RECOGNITION OF THE MODERN STATE OF ISRAEL AS THE SPIRITUAL HOMELAND OF THE JEWISH PEOPLE AND THE FULFILLMENT OF A RELIGIOUS ZIONIST VISION, ARE ALL CORNERSTONES OF OUR PROGRAM. OUR COMMITMENT TO TORAH U'MADDA REQUIRES STUDENTS TO PURSUE ALL ACADEMIC STUDIES WITH THE INTENT OF ACHIEVING A GREATER UNDERSTANDING OF THE WORLD, REACHING FOR PERSONAL SCHOLASTIC ACHIEVEMENT, AND MAXIMIZING INTELLECTUAL POTENTIAL. FORM 990, PART VI, SECTION A, LINE 11B - BOARD REVIEW OF FORM 990 THE YESHIVA UNIVERSITY HIGH SCHOOLS' FORM 990 WAS REVIEWED AND SIGNED BY AN INDEPENDENT ACCOUNTING FIRM BASED ON A DRAFT RETURN PREPARED BY THE HIGH SCHOOLS' FINANCE STAFF AND DIRECTOR OF TAX. THE DRAFT RETURN WAS REVIEWED BY THE HIGH SCHOOLS' SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND GENERAL COUNSEL. THE FINAL VERSION OF THE FORM 990 WAS MADE AVAILABLE TO THE BOARD OF TRUSTEES VIA A SECURE WEB SITE PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990, AS FILED, IS MADE AVAILABLE TO THE PUBLIC IN ACCORDANCE WITH INTERNAL REVENUE SERVICE RULES AND REGULATIONS. FORM 990, PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST POLICY THE OFFICERS AND BOARD MEMBERS OF THE YESHIVA UNIVERSITY HIGH SCHOOLS ARE SUBJECT TO THE FOLLOWING CONFLICT OF INTEREST POLICY AND PROCEDURES: THE POLICY APPLIES TO ALL MEMBERS OF THE HIGH SCHOOLS' BOARD OF TRUSTEES AND BOARD COMMITTEES, OFFICERS AND KEY EMPLOYEES OF THE HIGH SCHOOL AND SELECT EMPLOYEES AS DESIGNATED BY THE GENERAL COUNSEL (COLLECTIVELY, THE "COVERED PERSONS"). THE POLICY PROVIDES THAT COVERED PERSONS ARE TO ACT AT ALL TIMES IN A MANNER CONSISTENT WITH THEIR RESPONSIBILITIES TO THE HIGH SCHOOL AND AVOID CIRCUMSTANCES IN WHICH THEIR FINANCIAL OR OTHER TIES TO OUTSIDE ENTITIES COULD PRESENT AN ACTUAL, POTENTIAL OR APPARENT CONFLICT OF INTEREST OR IMPAIR THE HIGH SCHOOLS' REPUTATION. FURTHER, ALL COVERED PERSONS ARE NOT TO ENGAGE IN BUSINESS WITH THE HIGH SCHOOL. IN THE CASE OF A RARE EXCEPTION, A CONFLICT WAIVER COMMITTEE HAS BEEN ESTABLISHED TO REVIEW THE FACTS AND, IF IT IS IN THE HIGH SCHOOLS' BEST INTERESTS, APPROVE SUCH EXCEPTIONS. CONFLICT WAIVER REQUESTS CONSIDERED BY THE COMMITTEE, WHETHER OR NOT APPROVED, ARE REPORTED TO THE BOARD OF TRUSTEES. QUESTIONS AS TO WHETHER A TRANSACTION CONSTITUTES AN INTERESTED TRANSACTION WITH RESPECT TO COVERED PERSONS ARE RESOLVED BY THE CONFLICTS WAIVER COMMITTEE AND THE PRESIDENT IN CONSULTATION WITH THE GENERAL COUNSEL. COVERED PERSONS ARE REQUIRED TO COMPLETE, SIGN AND SUBMIT TO THE GENERAL COUNSEL AN ANNUAL DISCLOSURE STATEMENT; TO PROMPTLY NOTIFY THE GENERAL COUNSEL OF ANY CHANGE IN THE INFORMATION PREVIOUSLY REPORTED ON SUCH PERSON'S DISCLOSURE STATEMENT; AND TO FURNISH SUPPLEMENTAL INFORMATION AND/OR CONFIRM THE CONTINUED ACCURACY OF THE CURRENT DISCLOSURE STATEMENT, IF REQUESTED BY THE GENERAL COUNSEL. IN ADDITION, A COVERED PERSON WHO BELIEVES A CURRENT, PENDING OR PROPOSED TRANSACTION WOULD CONSTITUTE AN "INTERESTED TRANSACTION" OR OTHERWISE CONSTITUTE AN ACTUAL, POTENTIAL OR APPARENT CONFLICT OF INTEREST, IS REQUIRED TO PROMPTLY DISCLOSE TO THE GENERAL COUNSEL AND TO THE CHAIR OF EACH BOARD AND COMMITTEE OF WHICH THE COVERED PERSON IS A MEMBER, THE EXISTENCE OF THE CONFLICT (OR APPEARANCE OF CONFLICT) AND OTHER MATERIAL INFORMATION THAT THE COVERED PERSON MAY HAVE REGARDING THE TRANSACTION. NEW COVERED PERSONS ARE PROVIDED WITH A COPY OF THE CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT. THE DETAILS OF THE POLICY AND ITS REQUIREMENTS ARE REVIEWED WITH THEM. THE GENERAL COUNSEL MAINTAINS A DATABASE OF INTERESTS OF COVERED PERSONS AND A SYSTEM FOR MONITORING CURRENT, PENDING AND PROPOSED TRANSACTIONS FOR POTENTIAL INTERESTED TRANSACTIONS BASED ON THE DISCLOSURES MADE IN EACH COVERED PERSON'S ANNUAL DISCLOSURE STATEMENT AND ANY PERIODIC UPDATES SUBMITTED PURSUANT TO THE POLICY. IN ADDITION TO THE CONFLICT OF INTEREST POLICY ABOVE FOR COVERED PERSONS, HIGH SCHOOL EMPLOYEES ARE ALSO SUBJECT TO ADDITIONAL CONFLICT OF INTEREST REPORTING REQUIREMENTS AS SET FORTH IN THE EMPLOYEE HANDBOOK. FORM 990, PART VI, SECTION B, LINE 15A AND 15B - COMPENSATION REVIEW THE COMPENSATION OF ALL EMPLOYEES EARNING IN EXCESS OF A SPECIFIED THRESHOLD SALARY LEVEL, AS WELL AS ALL OF THE HIGH SCHOOLS' OFFICERS AND KEY EMPLOYEES, IS REVIEWED BY YESHIVA UNIVERSITY'S AND THE HIGH SCHOOLS' COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE INDEPENDENT MEMBERS OF THE COMMITTEE CONDUCT A DETAILED REVIEW AND APPROVAL OF SUCH COMPENSATION UTILIZING COMPARABILITY DATA FROM THIRD PARTY SALARY SURVEYS AND FORM 990 SALARY DISCLOSURES FROM OTHER ORGANIZATIONS. CONTEMPORANEOUS DOCUMENTATION OF THE COMMITTEE'S DELIBERATION AND DECISIONS ARE MADE A PART OF THE COMMITTEE'S WRITTEN MINUTES. FORM 990, PART VI, SECTION C, LINE 19 - PUBLIC DISCLOSURE THE HIGH SCHOOLS DOES NOT CURRENTLY MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE HIGH SCHOOLS DOES MAKE ITS FORM 990 AND 990-T AVAILABLE TO THE PUBLIC IN ACCORDANCE WITH INTERNAL REVENUE SERVICE RULES AND REGULATIONS. FORM 990, PART VI, LINE 2, BOARD - OFFICER RELATIONSHIPS ANDREW LAUER (OFFICER) AND HARVEY WRUBEL (TRUSTEE) HAVE A FAMILY RELATIONSHIP. MIRIAM GOLDBERG (TRUSTEE) AND ALAN GOLDBERG (TRUSTEE) HAVE A FAMILY RELATIONSHIP. FORM 990, PART I, LINE 6 - VOLUNTEERS IN ADDITION TO THE BOARD MEMBERS WHO SERVE WITHOUT COMPENSATION, THE HIGH SCHOOLS UTILIZES MANY VOLUNTEERS IN THE CONDUCT OF ITS ACTIVITIES, HOWEVER, IT DOES NOT TRACK THE NUMBER OF THESE ADDITIONAL VOLUNTEERS. FORM 990, PART XI - OTHER CHANGES IN NET ASSETS SUBSIDY FROM YESHIVA UNIVERSITY $2,617,173 CHANGE IN UNREALIZED VALUE OF TRUST $ 1,245 TOTAL $2,618,418 FORM 990, PART VII - AVERAGE HOURS PER WEEK THE AVERAGE HOURS PER WEEK LISTED FOR THE KEY EMPLOYEES AND HIGHEST PAID EMPLOYEES REPRESENT THE HIGH SCHOOLS' OFFICIAL WORK WEEK. HOWEVER, IN PRACTICE, SUCH INDIVIDUALS WORK SIGNIFICANTLY MORE HOURS PER WEEK AND ARE EXPECTED TO BE AVAILABLE FOR HIGH SCHOOLS BUSINESS AT ALL TIMES OTHER THAN THE SABBATH AND JEWISH HOLIDAYS. LEGAL FEES - PART IX, LINE 11B THE LEGAL FEES OF $280,875 REPORTED ON LINE 11B PRIMARILY REPRESENT COSTS INCURRED IN CONNECTION WITH THE LAWSUIT BROUGHT IN JULY 2013 BY FORMER STUDENTS OF THE YESHIVA UNIVERSITY HIGH SCHOOL FOR BOYS. THE LITIGATION ALLEGES ABUSE DURING THE 1970s AND 1980s BY FORMER BOYS HIGH SCHOOL EMPLOYEES AND SEEKS DAMAGES OF OVER $680,000,000. IN JANUARY 2014, THE HIGH SCHOOLS' MOTION TO DISMISS THE CASE WAS GRANTED BASED UPON THE STATUTE OF LIMITATIONS AND OTHER DEFENSES, AND THE CASE WAS DISMISSED WITH PREJUDICE. THE PLAINTIFFS APPEALED SUCH DISMISSAL AND LOST THE APPEAL BEFORE THE SECOND CIRCUIT COURT OF APPEALS. THE PLAINTIFF'S SUBSEQUENT REQUEST FOR REVIEW BY THAT COURT AND THEIR REQUEST FOR CERTTIORI TO THE UNITED STATES SUPREME COURT WAS ALSO DENIED. COUNSEL FOR THE PLAINTIFFS ALSO FILED A SEPARATE CLAIM ON BEHALF OF THE PARENTS OF ONE OF THE ALLEGED VICTIMS IN THE NEW YORK STATE COURT. THE HIGH SCHOOLS MOVED TO DISMISS THAT ACTION, AND THE COURT DISMISSED THAT ACTION AS WELL. IT IS CURRENTLY UNKNOWN IF THAT DISMISSAL WILL BE APPEALED. THE HIGH SCHOOLS INTENDS TO CONTINUE TO VIGOROUSLY DEFEND ITSELF AND BELIEVES THAT ALL PREVIOUSLY ISSUED DISMISSALS WILL BE UPHELD. THE HIGH SCHOOLS HAS UTILIZED LEGAL COUNSEL APPROVED BY ITS INSURANCE CARRIERS AND BELIEVE THERE SHOULD BE SUFFICIENT COVERAGE SUCH THAT A NEGATIVE OUTCOME WILL NOT HAVE A MATERIAL FINANCIAL IMPACT. FORM 990, PART V - COMMON PAY AGENT BEGINNING JANUARY 1, 2013, THE HIGH SCHOOLS AUTHORIZED YESHIVA UNIVERSITY TO BE ITS COMMON PAY AGENT FOR FEDERAL AND STATE EMPLOYMENT TAX REPORTING AND PAYING PURPOSES. ACCORDINGLY, YESHIVA UNIVERSITY FILED ALL OF THE HIGH SCHOOLS EMPLOYMENT TAX RETURNS WITH THE IRS AND NEW YORK, INCLUDING FORMS W-2 AND W-3. IN ADDITION, SINCE YESHIVA UNIVERSITY PERFORMS THE ACCOUNTS PAYABLE AND PROCUREMENT FUNCTIONS ON BEHALF OF THE HIGH SCHOOLS, YESHIVA FILED FORMS 1099 AND 1096 ON BEHALF OF THE HIGH SCHOOLS. ACCORDINGLY, THE HIGH SCHOOLS FORM 990, PART V, QUESTIONS 1A, 1B AND 2A ARE REPORTED AS ZERO EVEN THOUGH THE HIGH SCHOOLS DOES EMPLOY ITS OWN EMPLOYEES AND REPORTS ITS OWN INDEPENDENT CONTRACTORS ON PART VII, SECTION B. CHARITABLE REMAINDER TRUST - 1 FUNDRAISING NY NA T 0 0 0.00000 false