Rabbi Isaac Elchanan Theological Seminary
- Assets
- $154.9m
- Revenue
- $24.3m
- Investments
- $113.7m
- Employees
- 65
- Location
- New York, NY
- Founding
- 12/1973
- Data as of
- 06/2021
- EIN
- 13-2673756
Organization Overview
Rabbi Isaac Elchanan Theological Seminary is located in New York, NY. The organization was established in 1973. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Rabbi Isaac Elchanan Theological Seminary employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rabbi Isaac Elchanan Theological Seminary is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Rabbi Isaac Elchanan Theological Seminary generated $24.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $17.6m during the year ending 06/2021. While expenses have increased by 1.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Rabbi Isaac Elchanan Theological Seminary has awarded 69 individual grants totaling $1,238,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RABBI ISAAC ELCHANAN THEOLOGICAL SEMINARY PROVIDES RABBINICAL AND JUDAIC STUDY PROGRAMS TO APPROX. 270 SEMINARY STUDENTS AS WELL AS COMMUNITY LEARNING & LEADERSHIP TRAINING PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RABBINICAL AND JUDAIC STUDY PROGRAMS, COMMUNITY LEARNING AND EDUCATION AND LEADERSHIP TRAINING PROGRAMS. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rabbi Marc Penner Dean | Officer | 35 | $168,106 |
Rabbi Ronald Schwarzberg Program Director | 35 | $148,650 | |
Rabbi Aryeh Lebowitz Director - Semikha | 35 | $130,405 | |
Rabbi Elisha Bacon Mashgiach - Teacher | 35 | $76,343 | |
Rabbi Ezra Schwartz Program Director | 35 | $68,622 | |
Rabbi Joshua Flug Director - Torah Research | 35 | $64,025 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $709,003 |
| Related organizations | $302,015 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,053,045 |
| Noncash contributions included in lines 1a–1f | $473,681 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,064,063 |
| Total Program Service Revenue | $6,372,704 |
| Investment income | $1,192,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,731,417 |
| Net Income from Fundraising Events | -$48,569 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,312,479 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $131,500 |
| Grants and other assistance to domestic individuals. | $7,338,497 |
| Grants and other assistance to Foreign Orgs/Individuals | $14,500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $270,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,784,646 |
| Pension plan accruals and contributions | $278,090 |
| Other employee benefits | $639,050 |
| Payroll taxes | $310,203 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111 |
| Fees for services: Accounting | $63,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $460,842 |
| Fees for services: Other | $82,539 |
| Advertising and promotion | $30,279 |
| Office expenses | $115,569 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,215 |
| Travel | $1,034 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,899 |
| Insurance | $0 |
| All other expenses | $4,062 |
| Total functional expenses | $17,553,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $813 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,863,356 |
| Accounts receivable, net | $343,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $180,132 |
| Investments—publicly traded securities | $36,054,776 |
| Investments—other securities | $113,670,976 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,801,225 |
| Total assets | $154,914,739 |
| Accounts payable and accrued expenses | $496,862 |
| Grants payable | $0 |
| Deferred revenue | $10,983 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,995,610 |
| Other liabilities | $1,980,742 |
| Total liabilities | $4,484,197 |
| Net assets without donor restrictions | $1,562,886 |
| Net assets with donor restrictions | $148,867,656 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $154,914,739 |
Grants Awarded
Over the last fiscal year, Rabbi Isaac Elchanan Theological Seminary has awarded $130,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: EDUCATION | $29,000 |
Brooklyn, NY PURPOSE: EDUCATION | $14,500 |
Mamaroneck, NY PURPOSE: EDUCATION | $14,500 |
Dallas, TX PURPOSE: EDUCATION | $14,500 |
Stamford, CT PURPOSE: EDUCATION | $14,500 |
ATLANTA JEWISH ACADEMY PURPOSE: EDUCATION | $14,500 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Rabbi Isaac Elchanan Theological Seminary has recieved totaling $509,794.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $206,080 |
Fimf Inc New York, NY PURPOSE: FUNDING TO SUPPORT THE ORGANIZATION'S EDUCATIONAL AND RELIGIOUS PROGRAMMING. | $85,043 |
Benjamin M Aminoff Foundation New York, NY PURPOSE: PROMOTE JEWISH EDUCATION | $50,000 |
Wmm Charitable Foundation Inc Fair Lawn, NJ PURPOSE: TO CONTRIBUTE TO QUALIFIED CHARITABLE ORGANIZATIONS | $35,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $28,114 |
Emt Action Fund PURPOSE: RELIGIOUS EDUCATION | | $25,340 |
Endowment Analysis
| Beg. Balance | $114,819,717 |
| Earnings | $34,320,513 |
| Net Contributions | $4,242,583 |
| Other Expense | $3,143,628 |
| Grants | $3,028,685 |
| Ending Balance | $147,210,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New England Law Boston Boston, MA | $111,835,752 | $46,208,385 |
Geisinger Commonwealth School Of Medicine Danville, PA | $148,792,015 | $48,699,077 |
American College King of Prussia, PA | $101,126,239 | $39,801,880 |
Albany Law School Albany, NY | $122,483,245 | $40,164,228 |
Cairn University Langhorne, PA | $53,369,669 | $36,996,664 |
International Federation Of Accountants New York, NY | $24,926,636 | $31,445,814 |
Gordon Conwell Theological Seminary Inc South Hamilton, MA | $116,606,718 | $30,704,023 |
Union Theological Seminary New York, NY | $238,656,208 | $35,345,843 |
Hackensack Meridian School Of Medicine A Nj Nonprofit Corporatio Edison, NJ | $53,683,933 | $22,703,274 |
Westminster Theological Seminary Glenside, PA | $50,091,847 | $28,664,746 |
New York College Of Podiatric Medicine New York, NY | $55,714,669 | $20,085,509 |
Northeast College Of Health Sciences Seneca Falls, NY | $84,603,959 | $23,816,443 |