RYNJ Annual Report June 2014

June 2014/Sivan 5774

ANNUAL REPORT Including a financial summary for academic year ending June 2013

Dear RYNJ Family, We are pleased to present you with our 2014 Rosenbaum Yeshiva of North Jersey Annual Report. The report highlights the many milestones we have achieved this year and the great pride we have in our school, our students and our teachers. We are delighted to have received reaccreditation from the Middle States Association of Colleges and Schools. The visiting committee submitted a glowing report describing our many “positive attributes” and “extraordinary practices.” Members of our Middle School faculty are working diligently to install new technology and implement curriculums that we are fortunate to benefit from as winners of the BOLD Grant. Just a few weeks ago, we had the great pleasure of celebrating with two of our 7th grade students, Tehila Kornwasser and Nechama Reichman as they took first and second place respectively in the National Chidon HaTanach competition.

The Annual Report represents a continued effort on the part of our administration and board towards transparency in our financials. Included is a financial summary reflecting our last audited academic year ending June 2013 as well as key fundraising and budget statistics from our 2013-2014 projections. You will see how our finances are allocated and learn how we are actively planning today for the continued financial security of the Yeshiva.

RYNJ is proud to be a leader in the effort to contain the escalating cost of tuition. We are gratified that we have been able to maintain relatively flat tuition for the past seven years. The report shows how voluntary pledges to the Yeshiva throughout the year and as part of the scholarship campaign approximate the funds we allocate for scholarships. This means that the generous donations of RYNJ family and friends have ensured that tuition is not impacted by the scholarships given to our students. To that end, we are truly grateful for your generous consideration of RYNJ in your tzedakah giving.

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Comments on the annual report may be sent to AnnualReport@rynj.org.

Wishing you a wonderful summer.

Dear RYNJ Fam Rabbi Daniel Price Head of School rdprice@rynj.org

Rabbi Shmuel Goldstein Director of Religious and Academic Studies rsgoldstein@rynj.org

Azi Mandel Rabbi Yehuda Rosenbaum Allen Pfeiffer President Chairman of the Board Executive Vice President amandel@rynj.org ryrosenbaum@rynj.org allen.pfeiffer@rynj.org

Rosenbaum Yeshiva of North Jersey, 666 Kinderkamack Road, River Edge NJ 07661 • 201-986-1414 • www.rynj.org

Graphic Design © 2014 JulieFarkas.com

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We invite you to read the report and experience the abundance of nachas that we are fortunate to share at RYNJ. We have much to celebrate and our future is bright. As always, if you have any comments, ideas or questions, please reach out to us.

Table of Contents Letter 1 Table of Contents 2 Mission 3 Beliefs 4 Vision 5 Accomplishments 7 Striving Higher 11 Innovations 14 Financial Summary 16 Hakarat HaTov 22 Board Listing 23

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AYeshiva with a

Mission R

osenbaum Yeshiva of North Jersey

3

is an Orthodox Jewish day school

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dedicated to continuing our mesorah by nurturing the joyful pursuit of a Torah way of life in an atmosphere that promotes Torah scholarship and academic excellence.

Our mission is to inspire our children intellectually, socially and morally to view themselves as essential and vital assets of our precious legacy from Sinai.

Beliefs

WE BELIEVE:

• Each child should be imbued with a sense of yirat shamayim and be inspired to make a commitment to careful observance of the Torah.

•E ach child should develop a spiritual bond with Eretz Yisrael and a sense of identification with Medinat Yisrael.

•E ach student should be inspired to make a commitment to lifelong daily Torah learning and be provided with the Hebrew language and thinking skills required for such endeavors.

•A ll practices of the school are to be consistent with halacha and when deemed necessary, in consultation with gedolei Torah.

• J udaic Studies are to be taught in the morning by teachers who serve as role models for a Torah way of life.

• Separate classes are to be provided for boys and girls in grades 1-8.

•A n appreciation and respect for the Torah leaders of past and present generations should be instilled in each student.

Our

•E ach child should value the accomplishments and sacrifices of previous generations.

• Children flourish in a child-centered atmosphere that praises each child’s accomplishments and values the talents, uniqueness and varied learning styles of each student.

•A ll children can learn when they are provided with instructional support to develop their individual talents and address specific needs.

•E ducational success involves the integration of cognitive, emotional and social growth and includes the nurturing of creativity.

• A healthy professional relationship with open lines of communication between the family and the school plays a central role in the successful education of our children.

•S tudents should develop their critical thinking skills so that they not only learn to gather and incorporate information, but also to analyze what they learn and apply their knowledge.

• Each child should be inspired to a lifetime love of the pursuit of knowledge.

• Th e development of fine character and self-esteem is an essential process requiring constant effort and patience, facilitated by the faculty in a caring, safe environment and internalized by the students.

•S tudents should take responsibility for their actions and develop into good citizens. They should be imbued with an attitude of kavod habriot and strive to perform acts of chesed.

• Th e school should be deeply committed to focusing its energies (e.g. curriculum development, instructional strategies, assessment practices, professional development, leadership) in support of student achievement of essential knowledge, skills for learning and character refinement.

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•E ach student should make a commitment to create quality work and strive for excellence.

Accordingly, the school should be a model for the students by being committed to continuous self-improvement.

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Vision

A Yeshiva with a

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Each of our students is encouraged to make a commitment to create quality work and to strive for excellence

Primacy of Torah The Yeshiva continually emphasizes that the highest form of human endeavor is the study of Torah. The beautiful sounds of Torah learning reverberate throughout the school’s hallways as enthusiastic teachers help children to cultivate the required skills for a lifetime of Torah study. The worldview created by the study of Torah directs the future attitudes and endeavors of the student, who learns to see the world through the prism of Torah.

Academic Excellence The Yeshiva’s skills-based academic program prepares our students to attend a collegepreparatory high school. Each of our students is encouraged to make a commitment to create quality work and to strive for excellence. Students develop their critical thinking skills so they not only learn to gather and incorporate knowledge, but also to analyze what they learn and apply their knowledge. Many of the Yeshiva’s graduates have been chosen as the valedictorians and salutatorians of their high school classes. Today, many of our RYNJ alumni are leaders in their professions.

Love for Israel Love and support for the State of Israel are basic to the philosophy of the Yeshiva, which believes that our children must grow up feeling a sense of responsibility toward our brethren in the Holy Land. We are very proud that a large number of RYNJ families have made aliyah and are now raising their families in Israel. Yom Yerushalayim and Yom Ha’atzmaut are exciting days in the Yeshiva with carnivals, parades, Israeli-themed games and educational programs. Our children enthusiastically display their love for Israel each year at the Celebrate Israel Parade and have received many awards for their presentations.

Our staff actively seeks to develop an atmosphere that praises each child’s accomplishments and values the talents and special qualities of each student

Teachers Devoted to Teaching Children Our teachers, though masters at imparting skills and information, do not enter the classroom to merely teach a subject. They are trained to recognize the unique abilities, personalities, and needs of each of their students and devote themselves to the cognitive, emotional, and social growth of each child. Our staff actively seeks to develop an atmosphere that praises each child’s accomplishments and values the talents and special qualities of each student. The development of a positive self image within each child is among our primary concerns.

Enrichment and Support In each class, students are challenged with activities that develop their higher level thinking skills. Special projects stressing creativity, innovation and research capture the curiosity of students gifted in science, social studies and literature. Children gifted in math and Talmud have the opportunity to join enrichment classes and Middle School students with talents in science and math participate in a hands-on E2K program created by the Israel Arts and Science Academy. RYNJ maintains a resource room program for children who benefit from small group instruction focused on specific skill development, enabling classroom success.

The Yeshiva also provides self-contained classes for students who are not yet ready for a traditional classroom setting. Specially trained teachers utilize varied techniques for the individual needs of the students. Many children mainstream in part or fully into regular classrooms. Through the efforts of this Transitional Program, the children are provided the opportunity to flourish within a yeshiva setting.

Emphasis on Character Development The Yeshiva’s children are taught that the human personality is the most sacred and precious trust we possess. The Yeshiva has been recognized by the Chofetz Chaim Heritage Foundation for its commitment to raising children who are devoted to treating parents, teachers and peers with respect and recognizing the spark of the Divine in every individual. The Yeshiva provides many opportunities for acts of chesed throughout the year. Our curriculum incorporates numerous formal and informal programs in middot development. The Counseling and Psychological Services Department presents a Social Skills Development Program from a Torah perspective. Issues such as sensitivity to others, self respect and self esteem and prevention of bullying are among topics that are emphasized.

Separate Classes and Role Models The Yeshiva is committed to maintaining a learning environment that is founded upon the spirit of millennia of Torah study. In accordance with this time-honored tradition, the school maintains separate classes for boys and girls for both Judaic and secular studies. A highly positive Jewish environment is created where our teachers set the tone as magnificent role models for all of our students.

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A highly positive Jewish environment is created where our teachers set the tone as magnificent role models for all of our students

A Yeshiva with GREAT

Accomplishments RYNJ Reaccredited by Middle States Association RYNJ was reaccredited by the Middle States Association of Colleges and Schools in May 2014. This prestigious award is granted by an internationally acclaimed organization of diverse educational institutions. Accreditation is an impartial, third-party validation that an educational institution meets challenging but achievable standards of quality, and provides a mechanism for continuous school improvement. Eight years ago, RYNJ became the first Orthodox regular elementary school in Northern New Jersey to be accredited. The renewal of our accreditation is an event to be celebrated.

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The reaccreditation process involved three vital steps: (1) An intensive self-study of Middle States’ Twelve Indicators of Quality of an Effective School. The self-study included administration, faculty, parents, and teachers carefully reviewing documentation, data, and surveys pertaining to all areas of the school.

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(2) T he implementation of the highly acclaimed protocol Accreditation of Growth. This unique accreditation process uses strategic and site-based planning as vehicles for school improvement and growth in student performance. The protocol is thorough and specific, and effectively employs assessment of student outcomes.

(3) An extensive week-long visitation from a team of noted educators. This esteemed group validated RYNJ’s selfstudy, action plans, and confirmed that we meet and exceed the Middle States Indicators of Quality. Their analysis, assessment, and conclusions were based on: 1) A careful review of the Self-Study and all related documentation provided by the school.

2) 117 teacher and classroom observations.

3) Interviews with committee representatives from the 12 standards and 3 action teams that included 102 faculty, staff, administration, board of directors and board of education members.

4) A parent focus group of 18 members of our parent body.

5) Two student focus groups comprised of 14 boys and 16 girls selected by the Middle States Committee.

The Visiting Team reported: “While it is impossible to list all of the positive attributes that we observed during this visit, we would like to highlight a few extraordinary practices: • It is irrefutably evident that all stakeholders groups have a clear knowledge, understanding and commitment to the philosophy and mission of the school; this is no simple accomplishment.

• The RYNJ faculty is excellent; teachers are highly collaborative and invested in the school’s continuous improvement planning.

• Sufficient resources are available to foster both the religious nature/ values of the school as well as the high academic standards it espouses.

• Parents uniformly report that teachers frequently contact parents to keep them informed regarding student performance.

• Assessments are utilized to enable students, with faculty assistance, to monitor their own learning progress; administrators report being highly committed to the notion that “students should own their own ability and disability.”

• The atmosphere of respect among all stakeholders is pervasive, and the school is regularly looked at as a “family” by students, parents and staff members alike.

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• Teachers uniformly report feeling well supported by the administration; testimony to this claim is the fact that a large number of the faculty have taught at RYNJ for a decade or more. Even more impressive, numerous current teachers are RYNJ alumni who have chosen to return to what they fondly refer to as “home.”

• There was clear evidence of technology being used in classrooms by teachers to aid instruction, and utilized by students to assist in projects and assignments.

• The administration, faculty, and staff pay attention to the emotional and social needs of students, and procedures are in place for students to be referred to the proper channel when problems arise.

• The Transitional Program is an in-house program which allows children with greater learning challenges to be members of the day school. Inclusion in classes and mainstreaming are inherent to the program when appropriate.

We can be highly proud of our achievements, secure in the knowledge that our status is so professionally recognized

• S mall math groups and leveled Gemara classes provide opportunities for remediation and enrichment.

• Curriculum is scaffolded through the grades to ensure material employs age appropriate activities and instructional technologies.

• Varying levels of abilities are addressed through the T-Program, resource room and tracking of some subjects. The program stands out as a model Transitional Program.

• Internet usage for classwork and home has been introduced very carefully and directly addresses the concerns of families, acknowledging that students may not have easy access to the hardware/software needed.”

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The accreditation process was invigorating, purposeful, and collaborative. We can be highly proud of our achievements, secure in the knowledge that our status is so professionally recognized, and confident of our vision as we remain committed to greater future accomplishments.

National Chidon Ha-Tanach First and Second Place Winners Two RYNJ students made history as winners of the Jewish Agency’s U.S. Chidon Ha-Tanach competition.

7th graders Tehila Kornwasser and Nechama Reichman placed first place and second place, respectively, in the Hebrew middle school division.

Outstanding Achievement On Standardized Testing Throughout the years, RYNJ students have performed strikingly well on standardized tests. Their average test scores are solidly above national percentiles on the Stanford Achievement tests in both verbal and math sections. More significantly, our 8th graders have had outstanding success on the Board of Jewish Education High School Entrance Examination.

Torah Bowl Team Continued Success The RYNJ girls and boys Torah Bowl teams have a remarkable record of success, including several metropolitan area championships. This year, the teams have won 17 of 24 regular season games, as they show their mastery of Sefer Devarim.

Middle School Boys Hockey Team Winning Season The boys hockey team had their best season ever ending up with a record of 7 and 3 and a victory in the playoffs.

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Boys And Girls Basketball Teams Record Breaking Seasons The girls basketball team had a perfect season and ended up in first place with a record of 10 and 0. They went on to compete in the finals. The boys basketball team had a record of 9 and 1, which gave them a first place finish, and competed in the championship game. While having a winning season makes us very proud, we are prouder yet of the winning middot our teams display both on and off the court.

A Yeshiva always

Striving Higher RYNJ Goes BOLD RYNJ Middle School is one of only five schools in the country to be a recipient of the BOLD Day School Grant. The new initiative, “Blended Online Learning in Day Schools,” is funded by the Avi Chai Foundation, the AJE Project, and the Kohelet Foundation, and utilizes the acronym BOLD. The purpose of the grant is to “ignite the potential of students through the delivery of innovative and personalized learning.” Blended learning enables the teacher to work with small groups while the remainder of the class utilizes individual computers. This approach allows for effective formative assessment of each student’s progress, allowing teachers to more effectively address the particular academic needs of each student. The program aids teachers in challenging and developing their students’ higher level thinking skills as well as the emotional components of learning while remaining under the direction of a highly trained professional.

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The BOLD grant assists RYNJ with the implementation of blended learning in middle school math and science classes and provides the following: 1. Consulting services – Educational consultants from the Evergreen Education Group who are assisting in the design and implementation of our blended learning plan, as well as overseeing teacher training and providing professional development.

2. Hardware and Infrastructure- Chromebooks for middle school students (which remain in school) as well as network procurement and setup.

3. Software - Digital content licenses, education technology tools, learning management and data management systems and educational programs and online materials that complement our curriculum.

The program has been introduced in our 8th grade math classes with full implementation in math and science subjects for grades 6-8 planned for September 2015.

Guided by our administration and faculty, all staff has been challenged to develop a culture of consistency and collaboration

Towards that end, over the course of the 2013-14 year, the following programs were brought in for our staff: - D r. Harry K. Wong, recognized as one of the world’s leading educators, conducted a full day of professional development exclusively for RYNJ teachers in February.

Last June, every RYNJ teacher received Dr. Wong’s classic work, The First Day of School which has been internationally recognized as the handbook for creating an outstanding classroom. Faculty members Naomi Landsman and Tzippy Staum conceptualized a novel interdisciplinary program where every RYNJ teacher joined a reading group based upon the age of the child they teach. These reading groups, which include Judaic and secular teachers together, meet to actively explore Dr. Wong’s methodology. All groups have discussed establishment of classroom procedures and rules, creating an inviting learning atmosphere, and cooperative group learning. The collaboration among the staff is energizing and effective. Teachers are sharing with one another the needed pedagogical skills to help their students reach high standards. Led from the “outside” by Dr. Wong and from the “inside” by a collaborative administration and faculty, RYNJ is creating a model atmosphere for professional development.

- Our preschool teachers have been introduced to the Balanced Literacy approach that has already been initiated in the lower elementary grades. The teachers have worked with consultant Barbara Boriotti, who has modeled lessons for them in the classroom. Mrs. Boriotti also led sessions to review theory and implementation in the classroom. The preschool staff looks forward to continued workshops in this area as well as acquiring more literacy-based materials to ensure success in this program.

- The preschool embarked upon a new Kriah program to facilitate a smooth transition for Hebrew reading between preschool and first grade. Before the school year began, Kriah specialist Draizy Zelcer conducted a full day workshop for our pre-k, Kindergarten and First Grade teachers. A curriculum was created for these three grades to build proficient Hebrew reading skills by the time the children receive their first Chumash in first grade.

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The collaboration among the staff is energizing and effective. Teachers are sharing with one another the needed pedagogical skills to help their students reach high standards

Professional Development Throughout the past year, the Yeshiva focused significant time and resources on professional development. We continue to develop an atmosphere of effective teaching through encouraging excellent classroom management skills, teaching for mastery, and creating positive expectations for student success. Guided by our administration and faculty, all staff has been challenged to develop a culture of consistency and collaboration.

- Th e goal for our Pre-K students this year was to master sound/symbol relationships of the Aleph Bet. The children have been working on learning letter recognition and sounds of each Aleph Bet letter. Activities relating to the letters being learned are sent home every weekend for review. Kindergarten students spent the first half of the year reviewing 2 Aleph Bet letters a week. A variety of games, flash cards and activities were used to help the children master the letters. In the second half of the school year, the five nekudot were introduced and the children were taught to blend two and three letters together with nekudot to form simple words.

- B lended Learning Professional Development through the BOLD initiative, under the direction of Mrs. Cindy Wiesel and the advisement of the Evergreen Education Group has been ongoing throughout the year as the Middle School teachers prepare for the transition in math and science to the new blended learning curricula.

- The

Limudei Kodesh staff began the year with a workshop led by Rabbi Yoel Kramer. Rabbi Kramer led discussions on how to prepare for the first days of schools, which set the tone for the rest of the year. He spoke about establishing a “culture� of classroom procedures, where the students will always know what to expect when they come into a classroom, thereby giving them a feeling of safety and security in knowing what is expected of them. The group discussed how a teacher would strive to create a positive classroom environment of caring and love, while at the same time conveying the sense that serious learning would take place in the classroom. Rabbi Kramer provided practical examples of proven techniques of classroom management. He finished by giving chizuk to the teachers and emphasizing the sacred responsibility they have been given.

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A Yeshiva with

Innovations Construction Update The growth of the Yeshiva has created logistical challenges as we work to find enough space in the building to meet the needs of our students. Due to the large number of children that we serve, the scheduling of physical education and indoor recess has become exceedingly difficult. In order to address these concerns, the Yeshiva has begun an expansion project. The construction project, which began on May 1 and will be completed b’ezrat Hashem before school opens in September, includes the following:

14 New Classroom

Relocated Classroom

Boys Bathroom

New Locker Room

New Classroom

New Classroom

Expanded Gym

New Classroom

BCSS Office

New Office

Girls Bathroom

BCSS Office Relocated Classroom

Relocated Classroom

New Locker Room

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Relocated Resource Room

The gym will increase by 30% or close to 1600 square feet, allowing the area to be divided by retractable court curtains

• The main building will be expanded out 50 feet towards Kinderkamack Road.

• Th e gym will increase by 30% or close to 1600 square feet, allowing the area to be divided by retractable court curtains. When lowered, the curtains will separate the gym into 3 smaller gyms with enough space to safely and comfortably serve 3 individual classes each period. Bleachers and storage space will be added on either side.

• Th e expanded gym will feature a large portable stage and new audio and video equipment that will provide us with a comfortable performance space for large school events including Chumash plays, Chanukah performances and graduation.

•A dedicated entrance from the outside will be built providing an opportunity for us to rent out the gym without interference with other areas of our buildings.

•B ehind the gym, we will add 4 large classrooms to accommodate our growing student body. The expansion will also include new boys and girls restrooms, an administrative office and a resource room.

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Mrs. Levy has been praised for her tireless devotion to her students, her endless enthusiasm and her problem solving skills

Mrs. Jenni Levy: Lower School General Studies Principal RYNJ is proud to welcome Mrs. Jenni Levy as our Lower School General Studies Principal. Mrs. Levy is an extremely knowledgeable and talented educator whose passion for education and desire to improve the quality of education are inspiring. She is currently a member of the administration at Magen David Yeshiva in Brooklyn, where she serves as their Chief Academic Officer. There is virtually no area of education that Mrs. Levy has not researched, written about or been involved with. She has a vision for what education should be and the understanding and ability to make that vision a reality. Throughout her career, Mrs. Levy has been praised for her tireless devotion to her students, her endless enthusiasm and her problem solving skills.

She is a highly motivated, energetic and extremely competent educator. Mrs. Levy’s passion for learning is evident in her own education. After graduating from Stern College, she earned a masters degree in Gifted Education from Teacher’s College at Columbia University as well as a law degree from Fordham University. While in law school, Mrs. Levy pursued a graduate degree in Jewish History from Bernard Revel School of Jewish Studies at Yeshiva University.

Financial Summary This section outlines the key financial and operating data for the Rosenbaum Yeshiva of North Jersey. A summary of the financial results for the 2012/2013 academic year appears at the end of this report. Our Yeshiva’s financial statements are audited by an independent auditor. The 2012/2013 figures discussed in this section summarize some of the important metrics contained in the audited financial statements.

Enrollment and Class Sizes Enrollment for the 2013/2014 academic year stands at 1,080 students in Nursery through 8th grade, an increase of over 3% from our 2012/2013 enrollment of 1,049 students, representing the highest enrollment in the history of the Yeshiva. We remain focused on recruiting and currently project increased enrollment to reach approximately 1,100 students for 2014/2015. For the 2014/2015 school year, we will have 10 preschool classes, 32 lower school (grades 1 through 5) classes, 16 middle school (grades 6 through 8) classes, and 5 classes in the Transitional Program.

Student enrollment at RYNJ

families

1080 students 500 families (2013/2014)

students

Our class sizes have remained steady at an average of 19 students (less if the smaller Transitional Program classes are factored into the average). Our overall ratio of students to professionals (classroom teachers, assistants, specialty professionals and administrators) is approximately 5:1, allowing us to provide large school resources in a small school environment. This ratio compares favorably to those reported by other yeshiva day schools in the area.

We are confident that we can provide the same quality education as enrollment increases. We have the capacity to educate approximately 1,150 students in state-of-the-art facilities in addition to the five Sinai classes housed at RYNJ. This allows us to spread our fixed costs over a larger tuition base without diminishing the individual attention provided to students.

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430 students 224 families (1989/1990)

Tu itio n rsh ip ola

Sch

Ne t

Tuition and Scholarships Our primary source of income is tuition. Our “net� tuition (tuition income net of financial aid scholarship awards) was approximately $12.2 million for the 2012/2013 academic year and is projected to be approximately $13 million for the 2013/2014 academic year. Gross tuition revenue was approximately $13.6 million for the 2012/2013 academic year and is projected to be approximately $14.3 million for the 2013/2014 academic year. As tuition remained flat and will not be 10% increased yet again for the 2014/2015 academic year at an average of approximately $13,000 per student, the increase in gross revenue on a year over year basis is primarily attributable to 90% increased enrollment.

Need-based financial aid scholarship grants total approximately $1.36 million. That amount has been relatively consistent in each 2012/13 Scholarship ($1.36 million) of the last few years, accounting for approximately 10 to 10.5% 2012/13 Net Tuition of gross tuition revenue. Approximately 23% of children of RYNJ ($12.2 million) families received financial aid of some amount with a financial aid median grant of approximately $4,900 per child. The Yeshiva raised approximately $1.3 million in voluntary contributions. The remaining $60,000 provided in financial aid (less than $60 per child) is more than funded by scrip sales revenue of approximately $194,000.

We remain committed to providing tuition assistance to all families in need. We are confident that our scholarship process is discreet, compassionate and fair. We continue to work actively with JEFG and the other local schools to streamline the process and ensure consistency.

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2012/13 Sources of Revenue (not including Building Fund and Building Contributions) 1%

15%

3%

1%

Grandparents Family Obligations ($608K) Scrip ($194K) UJA

9%

10%

11.5%

85%

General Contributions 29%

$2.1 million 34%

Scholarship Reception ($713K) Scholarship

88.5% 9% 3%

Other Sources of Revenue ($2.1 million) Net Tuition ($12.2 million)

Voluntary Contributions NNJ Dinner Journal ($215K) Dinner Journal General Contributions ($194K) Chinese Auction Chinese Auction ($69K) Family Obligation NNJKIDS ($67K) UJA ($23K) Scrip Grandparent Circle ($21K)

Fundraising and Contributions We rely on donations and fundraisers for a significant portion of our revenue. Over the past few years, we have increasingly benefited from the success of our Annual Dinner and our Scholarship Reception. Charitable contributions received in the 2012/2013 academic year included the scholarship reception which raised a record of $713,000 (and even greater $750,000 in academic year 2013/2014), the dinner which grossed $740,000 ($425,000 dinner parent obligation and $215,000 in additional dinner journal ad revenue), and other contributions (such as Parnas Hayom and Chinese auction) of $263,000. We launched our Grandparent’s Circle campaign which raised $21,000 in its first year and look forward to that program achieving great success. In addition, we received $67,000 from NNJKIDS, $23,000 from the UJA Federation and net revenue from our scrip program was $194,000. In total, our non-tuition based income for the 2012/2013 academic year was over $2.1 million, $1.3 million of which was voluntary contributions to our annual operating budget.

The contribution amounts referenced do NOT include parent building fund obligations or amounts donated to offset the building of our facility and capital commitments. In the academic year 2012/2013, we collected $272,000 from parent building fund obligations and an additional $194,000 from pledges. In addition, we had interest income and other income related to the building of $160,000.

Total Scholarship Reception Pledges

2012

$750,000 (2014)

2001

Over 1000

2002

Over 1000

$92,000

Over 500

2004 (2002)201220122012201220122012201220122012201220122012

up to 500

2005

up to 500

Total 2006 Number of Scholarship Campaign Donors 2007 2007

77 213

2008 2008

65

2009 2009

223

73 213

2010 2010

88

212

2011 2011

108 286

2012 2012

120 287

2013

0

50

$499 and below

100

$500-$999

150

200

$1,000 and above

250

300 135

350

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Over 500

2003

Professional Compensation Our teachers and professionals are the heart and soul of RYNJ. It is their dedication to academic excellence and their devotion to our children that make RYNJ one of the leading day schools in the country. We devote significant resources to attract, retain and properly compensate our quality faculty and administration. As with most other schools, almost 90% of the budget, or $11.8 million, accounts for salaries and all related benefits.

We continue to seek ways to reduce our annual budget, but not at the expense of a quality educational experience for our RYNJ children. We also continue to increase the use of technology to improve educational efficiencies as much as possible where appropriate, enhanced by our receipt of a BOLD grant which allows us to implement many technological improvements without impacting our budget. We have also increased our teacher training and continuing education budget. Lastly, the Yeshiva no longer asks parents to contribute to class trips, snacks or other ancillary classroom expenses. Those expenses, along with textbooks, are now included with tuition.

Operating and Other Expenses Our expenses for textbooks, educational materials, and supplies were approximately $586,000. Our facilities expenses, which include the expense of our maintenance staff, repair and cleaning costs and security, rose to approximately $480,000 due to implementation of increased security measures. Our utilities expenses went down to approximately $262,000.

Insurance costs were approximately $169,000 and our special event programming costs were approximately $49,000. In addition, we accrued approximately $102,000 of bad debts during the 2012-13 year. Adding all these categories, our total additional operating expenses were approximately $1.6 million.

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2012/13 Operating Expenses = $13.5 million ($12,839 per student)

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Our total operating expenses (including salaries and benefits) of approximately $13.5 million translates to a cost of $12,839 per student. Since this is approximately equal to the average per student tuition ($13,000), your tuition dollars fund operating expenses of the Yeshiva. Your tuition dollars do not pay for scholarships, which are funded

Salaries and Benefits (87%)

by voluntary contributions.

Utilities (1.9%) Insurance (1.3%) Building Maintenance and Security (3.6%) Educational Materials, Supplies and other (4.4%) Dinner and Special Events (0.4%) Bad Debt Accrual (.8%)

Balance Sheet and Mortgage Amortization The Yeshiva aims to maintain a healthy balance sheet and is well-positioned to meet all of its financial obligations. Over the past decade, we have maintained a responsible debt level while dramatically increasing the size and quality of our facilities.

Our net debt balance (bank debt net of cash held in bank accounts) at the end of June 2013 was brought down to approximately $6 million, meeting our goal of bringing our net debt balance below $6 million before the end of June 2014 through normal mortgage amortization and additional principal payments.

Beyond the mortgage, the Yeshiva maintains a line of credit to cover cash requirements over the summer or other periods when expenses exceed cash on hand. We currently have no outstanding balance on our line of credit and have not had the need to draw on the link of credit in the last 5 years.

Building/Financing: Net Debt, Beginning of Fiscal year

2011-12 2012-13 $8,185,037

$6,971,101

126,217

160,090

Mortgage Principal Payments

378,343

337,220

Excess Mortgage Principal Payments

147,041

57,489

Building Fund Parent Obligation

342,539

271,581

Building Donations Collected

219,796

194,836

Fiscal Year Debt Paydown Interest Income and Building Income

Mortgage Paydown

$6,971,101

$5,949,885

As of the end of June 2013, we had approximately $399,000 of outstanding pledges from our last building project pledges of $2.2 million. In the last ten months, we have received additional dedications of more than $1.7 million toward our newest expansion project that began on May 1, 2014.

Summary and Outlook Overall, as a result of increased enrollment, the success of our fundraising programs and other non-tuition income, we have been able to balance our budget and maintain relatively flat tuition for the last seven years with some tuition decreases in select programs. Our goal is to continue to ensure we provide excellence in all aspects of our Yeshiva while keeping tuition as low as possible.

To meet this goal, we continue to look for ways to control our expenses, bring our fundraising to a higher level and attract students consistent with our enrollment targets.

PLEASE HELP US ACHIEVE OUR GOALS by considering RYNJ in your tzedakah giving.

Contributions of any amount are welcomed and encouraged. For information on available Building Dedications, please contact Menachem Schechter and Jonathan Neiss at give@rynj.org.

20 I Rosenbaum Yeshiva of North Jersey

Net Debt, End of Fiscal Year

1,213,936 1,021,216

12 Month Operating Income and Expenses for the School Year Ending June 30, 2013 Operating Revenue:

2011-12

2012-13

Tuition Obligations

$13,067,082

$13, 569,968

Less Financial Aid Scholarships

-1,359,329

-1,358,466

Net Tuition Income

11,707,753

12,211,502

323,400

607,975

191,708

193,856

12,222,861

13,013,333

Scholarship Fundraising

655,472

712,854

Additional Dinner Journal and Chinese Auction

216,519

283,496

General Contributions

180,537

193,878

NNJKids

108,821 67,450

Parent Obligations Family Obligations Scrip Sales Total Parent Tuition Obligations Annual Fundraising

Grandparent Circle

21,268

UJA Federation

31,150

23,363

1,192,499

1,302,309

$13,415,360

$14,315,642

$11,043,521

$11,819,822

Educational Materials, Supplies and Other

525,078

586,209

Building Maintenance and Security

442,775

479,612

Utilities

268,469 262,149

Insurance

127,943 169,063

Total Annual Fundraising Total Annual Operating Revenues Operating Expenses: 21

Salaries and Benefits

I Annual Report

Other Expenses

Dinner and Special Event Expenses

40,473

48,888

Provisions for bad debt

30,062

102,411

Total Other Expenses

1,434,800

1,648,332

Subtotal/Pre Mortgage Expense Obligations

12,478,321

13,468,154

Mortgage Interest

468,663

452,779

Required Mortgage Principal

321,335

337,220

Excess Set Aside for Mortgage Principal and Cap Ex

147,041

57,468

13,415,360

14,315,642

Total Annual Cash Outflows

A Yeshiva expressing

Hakarat HaTov Thank you to our generous 2012/13 donors.

Listed are the categories of those who have

voluntarily contributed to RYNJ in academic year 2012/13, including the Annual Dinner, Scholarship Reception, program sponsorships, general donations and building commitments.

Thank you for including RYNJ in your charitable giving this year.

Thank You! Greater than $50,000 4 families

$10,000 to $25,000 22 families $5,000 to $10,000 26 families $1,000 to $5,000 150 families $500 to $1,000 95 families $100 to $500 352 families

I Rosenbaum Yeshiva of North Jersey

$25,000 to $50,000 10 families

22

Chairman of the Board Rabbi Yehuda Rosenbaum Executive Vice President Allen Pfeiffer Vice President, Finance Jonathan Silver Vice President, Administrative Rachelle Mandelbaum Vice President, Development Jonathan Neiss Menachem Schechter Vice President, Communications Dr. Michael Wiederkehr Treasurer Glenn Pfeiffer Secretary Adina Wiener

Board of Governors David Carmel Jack Eizikovitz Jackie Feigenbaum Phil Heimowitz Dr. Arthur Kook Dr. Saul Lejtman Jeffrey Mayer Henry Orlinsky Mordy Rothberg Yitz Stern Dr. Stanley Waintraub Eli Weber Hillel Weinberger Harvey Wrubel

Board of Directors Bryan Alter Judah Eizikovitz Robert Erlich Brian Gopin Shira Greenberg Carl Guzman Uri Jacobs Yitzi Karasick Donny Rosenberg Naomi Schiff Aryeh Sheinbein Moshe Skoczylas Cory Tarzik Rachel Wertentheil

Head of School Rabbi Daniel Price

Trustees Jonathan Baron Shira Isenberg Laizer Kornwasser Adeena Mayerfeld Nomi Rotblat Yossie Rubin Barry Sklar

PTA Presidium Shoshana Moskowitz Becky Neugroschl

Associate Principal, General Studies Ann Robbins

Honorary Trustees Rabbi Abe Kramer Hy Nutkis Milton Polevoy Dr. Belle Rosenbaum Anne Senter Bernard Struhl A’H

Director of Religious and Academic Studies Rabbi Shmuel Goldstein Principal, Judaic Studies Rabbi Dr. Harvey Horn Principal, General Studies Arlene Libman Associate Principal Rabbi David Kaminetsky

Early Childhood Director Fran Mermelstein Early Childhood Assistant Director Aviva Vogel Director of Special Services Helen Adler Director of Transitional Program Barbara Goldstein Mashgicha Ruchanit Cindy Zucker Business Director, Controller Sandra Steinberg

Rosenbaum Yeshiva of North Jersey 666 Kinderkamack Road, River Edge NJ 07661 201-986-1414 • www.rynj.org

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President Azi Mandel