Torah Education Of America Inc
- Assets
- $16.8m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 18
- Location
- Lakewood, NJ
- Founding
- 02/2015
- Data as of
- 08/2023
- EIN
- 47-2341475
Organization Overview
Torah Education Of America Inc is located in Lakewood, NJ. The organization was established in 2015. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 08/2023, Torah Education Of America Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torah Education Of America Inc 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 08/2023, Torah Education Of America Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $2.2m during the year ending 08/2023. While expenses have increased by 22.8% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DISSEMINATE ORTHODOX JEWISH TORAH TRADITION THROUGH EDUCATION, RECREATION, PUBLISHING, AND GROUP STUDY OF AUTHENTIC JEWISH VALUES AND TRADITION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISH AN EDUCATIONAL CENTER FOR HIGH SCHOOL AGE BOYS AND BEYOND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Saul Gray Trustee | OfficerTrustee | 40 | $40,000 |
Mayer Gross Trustee | Trustee | 1 | $0 |
Chaim Plotnick Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $184,070 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,795,911 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,979,981 |
| Total Program Service Revenue | $844,034 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $177,211 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,001,239 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,250 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $50,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,849 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $187,921 |
| Payroll taxes | $30,656 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,704 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,742 |
| Advertising and promotion | $11,920 |
| Office expenses | $17,488 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,696 |
| Travel | $322 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $299,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,873 |
| Insurance | $39,995 |
| All other expenses | $134,158 |
| Total functional expenses | $2,183,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,529 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,659,426 |
| Accounts receivable, net | $7,738 |
| Loans from Officers, Directors, or Controlling Persons | $198,795 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,083 |
| Net Land, buildings, and equipment | $14,632,529 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $47,377 |
| Other assets | $10,000 |
| Total assets | $16,771,477 |
| Accounts payable and accrued expenses | $373,226 |
| Grants payable | $0 |
| Deferred revenue | $15,250 |
| 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 | $7,000,000 |
| Unsecured mortgages and notes payable | $2,860,000 |
| Other liabilities | $2,050,900 |
| Total liabilities | $12,299,376 |
| Net assets without donor restrictions | $4,472,101 |
| Net assets with donor restrictions | $0 |
| 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 | $16,771,477 |