Bet Midrash Ohel Torah
- Assets
- $5.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Lakewood, NJ
- Founding
- 05/2016
- Data as of
- 08/2023
- EIN
- 81-0797257
Organization Overview
Bet Midrash Ohel Torah is located in Lakewood, NJ. The organization was established in 2016. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 08/2023, Bet Midrash Ohel Torah employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bet Midrash Ohel Torah 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, Bet Midrash Ohel Torah 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 40.3% each year . All expenses for the organization totaled $3.0m during the year ending 08/2023. While expenses have increased by 50.1% 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
OPERATION OF A POST-SECONDARY EDUCATIONAL INSTITUTION PROVIDING RABBINICAL TRAINING WITH A FOCUS ON SEPHARDIC/MIDDLE EASTERN JEWISH TRADITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A POST-SECONDARY EDUCATIONAL INSTITUTION PROVIDING RABBINICAL TRAINING WITH A FOCUS ON SEPHARDIC JEWISH TRADITION WITH APPROXIMATELY 115 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yaakov Harari Trustee | OfficerTrustee | 40 | $28,800 |
Nathan Zelikovitz Trustee | Trustee | 2 | $0 |
Jeffrey Franco Trustee | Trustee | 2 | $0 |
Yeshaya Harari CFO | Trustee | 40 | $42,000 |
Yosef Harari Trustee | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,580,163 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,580,163 |
| Total Program Service Revenue | $402,286 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,300 |
| 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 | $3,018,536 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,044 |
| Grants and other assistance to domestic individuals. | $708,239 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $138,880 |
| Compensation of current officers, directors, key employees. | $8,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $585,943 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $77,239 |
| Payroll taxes | $6,514 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,555 |
| Advertising and promotion | $7,421 |
| Office expenses | $32,818 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $441,642 |
| Travel | $14,183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $166,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,646 |
| Insurance | $8,121 |
| All other expenses | $54,518 |
| Total functional expenses | $3,011,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,964 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,520,787 |
| Accounts receivable, net | $33,075 |
| 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 | $3,484,056 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $36,657 |
| Other assets | $358,784 |
| Total assets | $5,555,323 |
| Accounts payable and accrued expenses | $187,382 |
| Grants payable | $0 |
| Deferred revenue | $3,350 |
| 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 | $1,960,000 |
| Unsecured mortgages and notes payable | $500,000 |
| Other liabilities | $327,147 |
| Total liabilities | $2,977,879 |
| Net assets without donor restrictions | $0 |
| 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 | $2,577,444 |
| Total liabilities and net assets/fund balances | $5,555,323 |