2014-05-15T09:56:56-05:00 2013-06-30 PricewaterhouseCoopers LLP 300 Madison Avenue New York NY 10017 990 2012-07-01 200247649 YESHIVA UNIVERSITY HIGH SCHOOLS % TOBY WINER CFO YESH 2129605470 2540 AMSTERDAM AVENUE Suite NEW YORK NY 10033 TOBY WINER 6464713000 2015-05-14 true 6464713000 2012 2015-11-30 17:44:51Z RABBI JOSH JOSEPH 2540 AMSTERDAM AVENUE NEW YORK NY 10033 20065269 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 16 16 150 16 -8844 -8844 1699534 1873476 11804963 12723516 674388 1167604 -82419 -48264 14096466 15716332 3742065 4100867 0 0 9144960 9220748 0 0 213039 6183452 9926583 19070477 23248198 -4974011 -7531866 17138126 19607346 1865033 2274257 15273093 17333089 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 17691533 4100867 12723516 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 528 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. 17691533 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 51 0 true 150 true true true false false false false true true false false false false X 16 16 true false false false false false false true true false false true true true true true true true true false X TOBY WINER CFO 2129605300 YESHIVA UNIVERSITY 500 WEST 185TH S NY NY 10033 X RICHARD M JOEL 1.0 0.0 X X RABBI JOSH JOSEPH 5.0 0.0 X X MIRIAM P GOLDBERG 1.0 0.0 X JUDITH HECHT BERMAN 1.0 0.0 X DR FELIX L GLAUBACH 1.0 0.0 X ALAN E GOLDBERG 1.0 0.0 X ALISSA HORN 1.0 0.0 X MICHAEL JESSELSON 1.0 0.0 X RABBI E SAMUEL KLIBANOFF 1.0 0.0 X DR RAMA KOSLOWE 1.0 0.0 X DR HENRY KRESSEL 1.0 0.0 X ELIOT LAUER 1.0 0.0 X DAVID B SCHWARTZ 1.0 0.0 X LOUIS TUCHMAN 1.0 0.0 X HARVEY WRUBEL 1.0 0.0 X MONICA SHAPIRO 1.0 0.0 X 0 J MICHAEL GOWER 1.0 0.0 X ANDREW LAUER 1.0 0.0 X CHAYA NEUGROSCHL 35.0 0.0 X 248754 0 6520 MICHAEL TAUBES 35.0 0.0 X 251466 0 55975 RABBI SETH GRAUER 35.0 0.0 X 114826 0 60277 RABBI STEVEN RICHTER 35.0 0.0 X 79001 0 77997 RABBI GARY BEITLER 35.0 0.0 X 137245 0 83928 SETH TAYLOR 35.0 0.0 X 137787 0 25499 MOSHE KINDLEHRER 35.0 0.0 X 143155 0 22025 1112234 0 332221 14 false true false 0 159142 221086 1493248 14350 1873476 STUDENT TUITION & FEES 900099 12521105 12521105 STUDENT DORM/FOOD/TRANSPORTATION 900099 54459 54459 PTACH PROGRAM FOR CHILDREN WITH DISABILITIES 900099 147000 147000 OTHER 900099 952 952 12723516 181241 -8844 190085 0 0 0 0 0 5262570 4276207 986363 986363 986363 24466 159142 72730 -48264 -48264 0 0 0 15716332 12723516 -8844 1128184 X 0 4100867 4100867 0 0 459990 459990 0 7114728 7051434 63294 178885 177390 1495 961113 948829 12284 506032 499564 6468 0 3533059 3533059 950 950 0 0 0 268953 268953 40417 26450 13967 460374 399937 60437 195949 195949 0 44217 43793 424 1470811 1468474 2337 0 3358 3211 147 0 0 188141 188141 14089 12539 1550 ALLOCATED EXPENSES 1783489 1123598 659891 SECURITY 901718 360282 541031 405 STUDENT ACTIVITY 540300 500624 39676 TUITION WRITEOFF/BAD DEBT 269238 269238 211520 75814 123601 12105 23248198 17691533 5343626 213039 0 0 0 0 1439725 1134186 127960 1379672 0 0 0 0 0 0 0 0 0 0 5220746 2415268 2973723 2805478 6975479 5395865 5621239 8892145 0 0 0 0 0 0 17138126 19607346 1865033 1876376 0 0 0 34912 0 0 0 0 0 0 0 0 0 0 0 362969 1865033 2274257 X 718820 1357866 5567467 6873685 8986806 9101538 15273093 17333089 17138126 19607346 X -7531866 945520 8646342 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12142129 96800 1946933 287631 137881 0 13760350 12589169 57260 130210 305313 329197 0 12142129 12314450 51800 1915684 818252 874513 0 12589169 11597554 502800 924408 416816 293496 0 12314450 15407036 503650 -3081147 412215 819770 0 11597554 0.05010 0.63856 0.31134 true false 435000 435000 4495881 2265477 2230404 289865 149791 140074 2805478 ALTERNATIVE INVESTMENTS 8892145 F 8892145 0 INVESTMENT PAYABLE FOR UNSETTLED TRADES 352163 TRUSTS HELD FOR OTHERS 10806 362969 X 21280057 945520 8646342 9591862 11688195 4028137 4028137 15716332 19220061 72730 72730 19147331 4100867 4100867 23248198 INTENDED USE OF ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 THE HIGH SCHOOLS' ENDOWMENT FUNDS ARE INTENDED FOR STUDENT SCHOLARSHIPS AND PRIZES, INSTRUCTION AND TRAINING. RECONCILIATION TO AUDITED FINANCIAL STATEMENTS FORM 990, SCHEDULE D, PART XI, AND XII SCHEDULE D, PART XI, LINE 2D: SUBSIDY FROM YESHIVA UNIVERSITY: $8,628,410 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS: 17,932 ------------- TOTAL $8,646,342 SCHEDULE D, PART XI, LINE 4B: RECLASS OF SCHOLARSHIP EXPENSES: $4,100,867 RECLASS OF SPECIAL EVENT EXPENSES: (72,730) ----------- TOTAL $4,028,137 SCHEDULE D, PART XII, LINE 2D: RECLASS OF SPECIAL EVENT EXPENSES: $ 72,730 SCHEDULE D, PART XII, LINE 4B: RECLASS OF SCHOLARSHIP EXPENSES: $4,100,867 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, 2013 WAS $8,628,410, WHICH IS INCLUSIVE OF $3,533,059 OF ONE-TIME LITIGATION EXPENSES. 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, 2013. INVESTMENTS SCHEDULE D, PART VII 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 ALL 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 IN THE AMOUNT OF $221,086. THE HIGH SCHOOLS' RIGHT TO SUCH AID HAS NEVER BEEN REVOKED OR SUSPENDED. Middle East and North Africa 5 Program Services EDUCATION 72656 Middle East and North Africa Investments N/A 93858 5 5 166514 166514 false false false false false false DETAILS OF ACTIVITIES OUTSIDE THE U.S. FORM 990, SCHEDULE F, PART I, LINE 3 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 183608 159142 24466 0 1227 6020 41500 0 23983 NONE 0 183608 159142 24466 0 1227 6020 41500 0 23983 72730 -48264 true STUDENT SCHOLARSHIPS 434 4100867 SUPPLEMENTAL INFORMATION FORM 990, SCHEDULE I, PART I & III THE HIGH SCHOOLS OFFERS ASSISTANCE TO ITS STUDENTS THROUGH MERIT BASED SCHOLAYSHIPS 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 SETH GRAUER 113379 0 0 0 1447 0 2988 0 57289 0 175103 0 0 0 RABBI STEVEN RICHTER 78359 0 0 0 642 0 2979 0 75018 0 156998 0 0 0 RABBI GARY BEITLER 137083 0 0 0 162 0 3822 0 80106 0 221173 0 0 0 SETH TAYLOR 137305 0 0 0 482 0 2881 0 22618 0 163286 0 0 0 CHAYA NEUGROSCHL 248634 0 0 0 120 0 4857 0 1663 0 255274 0 0 0 MICHAEL TAUBES 194042 0 0 0 57424 0 0 0 55975 0 307441 0 0 0 MOSHE KINDLEHRER 142267 0 0 0 888 0 0 0 22025 0 165180 0 0 0 FORM 990, SCHEDULE J, PART II - DETAILS OF COMPENSATION MICHAEL TAUBES - COLUMN B (III) INCLUDES A RETROACTIVE PAY INCREASE RELATED TO HIS HIRING AS THE HEAD OF THE SCHOOL / ROSH YESHIVA. COLUMN D INCLUDES NON-TAXABLE MEDICAL BENEFITS, TUITION AND THE PORTION OF RABBI TAUBES' SALARY THAT IS DESIGNATED AS NON-TAXABLE PARSONAGE. CHAYA NEUGROSCHL - COLUMN C INCLUDES EMPLOYER CONTRIBUTIONS TO A SECTION 403(B) RETIREMENT PLAN. COLUMN D INCLUDES NON-TAXABLE MEDICAL BENEFITS. RABBI SETH GRAUER - COLUMN C INCLUDES EMPLOYER CONTRIBUTIONS TO A SECTION 403(B) RETIREMENT PLAN. COLUMN D INCLUDES NON-TAXABLE MEDICAL AND TUITION BENEFITS AND THE PORTION OF RABBI GRAUER'S SALARY THAT IS DESIGNATED 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. MOSHE KINDLEHRER - A SIGNIFICANT PORTION OF MOSHE KINDLEHRER'S TOTAL COMPENSATION IS EARNED FROM FUNDRAISING SERVICES PERFORMED FOR YESHIVA UNIVERSITY, AN AFFILIATED, BUT UNRELATED ORGANIZATION FOR FORM 990 PURPOSES, OF THE HIGH SCHOOLS. COMPENSATION FROM UNRELATED ORGANIZATION FORM 990, PART VII, LINE 5 AND SCHEDULE J THE HIGH SCHOOLS' PRESIDENT, VICE PRESIDENT, 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 1, LINE 1A - THE HOUSING ALLOWANCE REFERS TO THE PARSONAGE SALARY DESIGNATION RECEIVED BY CERTAIN EMPLOYEES LISTED IN PART VII. ORGANIZATION'S MISSION CORE FORM 990, PART III, LINE 1 YESHIVA UNIVERSITY HIGH SCHOOL FOR BOYS: THE OVERARCHING GOAL OF OUR YESHIVA IS TO DEVELOP BNAI TORAH AND YIREI SHOMAYIM WHO CLEARLY AND PROUDLY IDENTIFY AS SUCH, AS THEY ARE TAUGHT TO PURSUE TRUE GREATNESS IN TORAH LEARNING, REFINEMENT OF CHARACTER, AND OUTSTANDING SUCCESS IN ALL DISCIPLINES. OUR STUDENTS LEARN THAT TORAH STUDY IS A LIFE-LONG MISSION AND THAT THEY MUST STRIVE TO ATTAIN-AND CAN ATTAIN-EVER GREATER HEIGHTS. THEY LEARN THAT MIDDOS TOVOS, MORAL INTEGRITY AND THE PURSUIT OF CHESSED, THAT IS, CONCERN FOR AND SERVICE TO OTHERS, MUST NECESSARILY ACCOMPANY LEARNING IN ORDER FOR THE LEARNING TO HAVE DEEP AND LASTING MEANING. AND THEY LEARN THAT THE CHARACTER OF THE REAL BEN TORAH IS MEASURED NOT ONLY BY HIS CONDUCT DURING SHIUR AND IN THE BEIS MEDRASH, BUT ALSO BY HIS APPROACH TO ALL AREAS OF STUDY, HIS MANNER OF SPEECH, HIS RELATIONSHIP WITH OTHERS, AND HIS GENERAL DEPORTMENT. 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. BOARD REVIEW OF FORM 990 FORM 990, PART VI, SECTION A, LINE 11A 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' 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. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C 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. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINE 15A AND 15B 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 ANNUALLY 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, FORM 990 SALARY DISCLOSURES FROM OTHER ORGANIZATIONS, AND/OR COMPENSATION STUDIES PREPARED BY AN INDEPENDENT THIRD PARTY CONSULTING FIRM. CONTEMPORANEOUS DOCUMENTATION OF THE COMMITTEE'S DELIBERATION AND DECISIONS ARE MADE A PART OF THE COMMITTEE'S WRITTEN MINUTES. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 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. BOARD - OFFICER RELATIONSHIPS FORM 990, PART VI, LINE 2 ANDREW LAUER (OFFICER) AND HARVEY WRUBEL (TRUSTEE) HAVE A FAMILY RELATIONSHIP. MIRIAM GOLDBERG (TRUSTEE) AND ALAN GOLDBERG (TRUSTEE) HAVE A FAMILY RELATIONSHIP. VOLUNTEERS FORM 990, PART I, LINE 6 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 FORM 990, PART XI, LINE 9 SUBSIDY FROM YESHIVA UNIVERSITY $8,628,410 CHANGE IN UNREALIZED VALUE OF TRUST $ 17,932 TOTAL $8,646,342 AVERAGE HOURS PER WEEK FORM 990 PART VII 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 $3,533,059 REPORTED ON LINE 11B 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 $380,000,000. 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 ARE PURSUING AN APPEAL OF THE DISMISSAL. THE HIGH SCHOOLS INTENDS TO CONTINUE TO VIGOROUSLY DEFEND ITSELF AND BELIEVES THE DISMISSAL WILL BE UPHELD. THE HIGH SCHOOLS UTILIZED LEGAL COUNSEL APPROVED BY ITS INSURANCE CARRIERS. CHARITABLE REMAINDER TRUST - 1 FUNDRAISING NY NA T 0.00000 false