RYNJ Annual Report June 2012

June 2012/Sivan 5772

ANNUAL REPORT

Including a financial summary for academic year ending June 2011

Rosenbaum Yeshiva of North Jersey

Dear RYNJ Family, We are pleased to present you with the inaugural Rosenbaum Yeshiva of North Jersey Annual Report for the academic year ending June 2012. The report reflects the many milestones achieved in our Yeshiva this year.

From the innovative Chumash curriculum to a renewed emphasis on professional development to increased enrollment to new highs achieved in fundraising, this past year was certainly one of which we can be very proud.

The report represents an effort on the part of our board and administration towards transparency in our financials. Included is a financial summary reflecting our last audited academic year ending June 2011 as well as key fundraising and budget statistics from our 2011-2012 projections. You will learn how our finances are allocated and see how we are actively planning today for the continued financial security of the Yeshiva.

RYNJ is a leader in the effort to contain the escalating cost of tuition. We are gratified that we were able to maintain relatively flat tuition for the past five years. Our goal is to continue to provide excellence in all aspects of our Yeshiva without increasing tuition obligations for the foreseeable future. To that end, we are truly grateful for your generous consideration of RYNJ in your Tzedakah giving.

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

Wishing you a wonderful summer.

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Rabbi Shmuel Goldstein Dean rsgoldstein@rynj.org

Rabbi Daniel Price Associate Dean rdprice@rynj.org

Rabbi Yehuda Rosenbaum Allen Pfeiffer President Chairman of the Board 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: Julie Farkas • JulieFarkasGraphicDesign@gmail.com

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Table of Contents Letter 1 Table of Contents 2 Our Beliefs 3 Vision 4 Great Accomplishments 7 Innovations 9 Financial Summary 13 Hakarat HaTov 20 2 I Rosenbaum Yeshiva of North Jersey

Board Listing 21

Our WE BELIEVE:

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

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

• Each 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.

• All 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.

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

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

• Each 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.

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

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

• Each 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.

• 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.

• Students 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.

• The 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.

• Students 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.

• The 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.

A Yeshiva with a

Vision T

he Rosenbaum Yeshiva of North Jersey is an Orthodox Jewish school dedicated

to continuing the mesorah by nurturing the joyful pursuit of a Torah way of life in an atmosphere that promotes Torah 4

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.

I Rosenbaum Yeshiva of North Jersey

scholarship and academic excellence.

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 5 I Annual Report

We are very proud that a large number of RYNJ families have made aliyah and are now raising their families in Israel

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 highly regarded 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.

The development of a positive self-image within each child is among our primary concerns

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.

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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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 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.

A Yeshiva with

Great Accomplishments U.S. Department of Education Blue Ribbon School Of Excellence At an award ceremony in Washington, DC, RYNJ was recognized as one of a very elite group of outstanding schools and designated as a National Blue Ribbon School. From among over 100,000 public and private schools, fewer than 300 are recognized each year. The Council for American Private Education declared in a letter to RYNJ: “You and your staff, students, and parents should be proud and pleased that your efforts to deliver the highest quality education are not only successful, but are an example to others.”

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Torah Umesorah School of the Year The award recognized that “the Yeshiva provides an atmosphere where children achieve personal growth through love and knowledge of their sacred heritage. RYNJ is truly an inspiring model for American Torah Education.”

Accredited by the Middle States Association of Colleges and Schools The Rosenbaum Yeshiva of North Jersey is the only Orthodox regular elementary and junior high school in Northern New Jersey that is accredited by the prestigious Middle States Association. Middle States Accreditation is only awarded after a very comprehensive study of the institution by recognized educational experts that confirms that the school has met all 12 standards in such areas as educational programming, administration, instructional pedagogy, teaching staff, organizational design, technology, student life and activities, facilities, health and safety, and strategic planning. Most importantly, a Middle States Accredited School has specific plans that include strategies for anticipated events and goals towards even higher levels of quality.

RYNJ Student Participates at the National Spelling Bee in Washington This year, RYNJ was in possession of a trophy that travels annually to the school that produces the Northern New Jersey Spelling Champion, an accomplishment that results in a trip to Washington and participation in the Scripps National Spelling Bee. The trophy is inscribed with the name of RYNJ graduate Kira Paley-2011.

The average test scores are solidly above national percentiles

Torah Bowl Team 24-0 This year’s girls and boys Torah Bowl teams were undefeated in regular season competition. The girls also won the District Final and are competing in the Metropolitan Torah Bowl Championship. In the recent past, RYNJ teams have won the Girls and Boys Torah Bowl championship competing against many schools from the Metropolitan Area.

Math and Science Competition Success During the last several years, RYNJ E2K teams have finished in 1st, 2nd and 3rd place in international competitions in math and science.

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Academic Excellence

Parent Survey Confirms Extremely High Satisfaction Rate During the summer of 2011, the parent body of RYNJ took part in a comprehensive survey to measure their appraisal of their children’s RYNJ education. Almost all survey answers indicated high satisfaction with academic, Judaic, and spiritual education. The responses served as a basis for the implementation of further educational initiatives. Most markedly, 94% of the respondents indicated that they were very satisfied or satisfied with their decision to enroll their children at RYNJ. A Rhodes Scholar Miriam Rosenbaum, an alumna of RYNJ, became the second Orthodox woman to be awarded the prestigious Rhodes Scholarship.

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Outstanding Achievement on Standardized Testing Throughout the years, RYNJ students have performed strikingly well on standardized tests. The average test scores are solidly above national percentiles on the Stanford Achievement tests, both verbal and mathematical. Even more significantly, our students have performed on the Board of Jewish Education High School Entrance Examinations with scores that are outstanding.

A Yeshiva with

Innovations –2011-2012 L’havin U’lehaskil — All-inclusive Chumash Program RYNJ, along with a select group of yeshivot in North America, has implemented an exciting and ground-breaking Chumash program that emphasizes the development of Chumash skills in the elementary school. Currently, our second and third graders are thoroughly engaged in this brainchild of the Consortium of Jewish Day Schools. Mrs. Tamar Nusbaum, the creator of the program, regularly visits RYNJ and guides our staff in the employment of the incredible array of materials in the classroom.

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They learned how to regularly employ methodologies that have every student actively involved in responding, inquiring, and accepting challenges

The program includes creative lessons and beautiful worksheets that target different modalities which are ideal for differentiated instruction and stress varied skills. Units are accompanied by Smartboard-ready discs, interactive songs, beautiful charts and posters, and flashcards for each student. Formative and summative assessments throughout the year enable teachers to track the progress of the students and identify those skills that need to be strengthened.

Professional Development Emphasizes Active Participation, Checking for Understanding and Total Participation Techniques This year, the Judaic Studies teachers participated in workshops and conferences with Rabbi Dr. David Jacobson, an authority on differentiated instruction. Under Dr. Jacobson’s direction the teachers explored many techniques to involve all students in each lesson. They learned how to regularly employ methodologies that have every student actively involved in responding, inquiring and accepting challenges. Dr. Jacobson also presented several techniques of formative assessment that can be incorporated in a lesson to provide the teacher with frequent feedback to ensure that each child is learning.

The General Studies staff has been guided in the creation and use of Total Participation Techniques (TPT) Kits developed by Drs. Persida and William Himmele and presented by Arlene Libman, General Studies Principal.

After attending an intensive seminar for educational leaders last summer, Ann Robbins, Associate Principal, presented the Middle School staff with several new ways to view and utilize assessment tools.

A Living Torah from a Living Land In conjunction with the Lookstein Foundation, Rabbi David Katz is employing Skype from Israel to present classes to fourth through eighth grades at the actual sites where events in Tanach took place.

Tal Am Expands to the Fourth Grade Our Tal Am Hebrew Language Program now extends from second to fourth grades. This very successful Hebrew program incorporates a comprehensive, multi-sensory approach to teaching Ivrit by utilizing a wide range of activities for speaking, reading comprehension, listening and writing. Students enthusiastically learn in a stimulating auditory and visual environment.

Morah Mali Mizrahi Creates a Hebrew Language Environment for Preschoolers Each preschool class visits the Ivrit room where they sing, dance, play games and act out stories completely in Ivrit. The children are developing quite an impressive vocabulary which is reinforced by the classroom morot.

Treasures Series Enhances Kindergarten Success The RYNJ kindergarten teachers are utilizing the Treasures books and curriculum to create a solid foundation in oral and expressive language, shared and interactive writing, and phonemic awareness. The Treasures Program links with RYNJ’s spiraling language arts curriculum.

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This very successful Hebrew program incorporates a comprehensive, multi-sensory approach to teaching Ivrit by utilizing a wide range of activities

Pre-K Takes Ten This year, the pre-kindergarten students are excitedly encountering ten units based on a different theme each month. Units include; “Who We Are”, “Making Friends”, “Families”, “Transportation”, “Animals in the Wild” and other subjects.

While the units relate to phonological awareness, oral and comprehensive language, and shared writing, the morot are creatively connecting the themes to the chagim and weekly parasha.

The smartboards allow for highly engaging lessons and an extensive use of resource materials in all subject matters for both limudei kodesh and limudei chol

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Aleinu Safety Kid Program Children in RYNJ’s younger grades, including preschoolers, participated in lessons on staying safe taught by trained presenters from Project S.A.R.A.H. Many RYNJ parents attended our workshop on “Empowering Your Child in Personal Safety Issues,” also conducted by Project S.A.R.A.H. Smartboards By next year all classes in Grades 1-8 will have Smartboards as we also seek to introduce the Smartboards into the preschool. The Smartboard is an interactive whiteboard that allows teachers and students to access computer applications using touch control. The boards allow for highly engaging lessons and an extensive use of resource materials in all subject matters for both limudei kodesh and limudei chol. All teachers in the school receive training for the effective utilization of the Smartboard as a stimulating educational tool.

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Rabbis Pesach Krohn and Jonathan Rietti Introduce Brachot Program in Memory of Ilana Schwartz A”H This year, our students were inspired to take extra care in the saying of brachot and participated in a revitalized study of choosing the correct bracha. Beautiful cards in Ilana’s memory were distributed with Asher Yatzar and Al Hamichya. Ilana A”H inspired the RYNJ family— students, teachers, administrators and parents— with her dedication to davening each word so carefully and beautifully. May she always be a shining model of one seeking to draw close to Hashem.

Parent-Child Learning Rabbi Ben Tzion Shafier of The Shmuz fame and an RYNJ parent highlighted a Sunday morning of learning for fathers and sons. The talmidim and their fathers enjoyed a bagel breakfast and a shiur before Rabbi Shafier’s fascinating talk. As a special Sunday morning activity for the older girls grades, the talmidot and their mothers were treated to a wonderful Chumash lesson and engaging game led by Morot Elissa Hochbaum and Leah Silver.

Yeshiva University Kollel Students Enhance Learning and Ruach on Fridays Three YU Kollel members continue to spend their Friday mornings in the RYNJ Middle School division. The Yeshiva University-RYNJ School Fellowship serves as a paradigm for developing and training future educators and leaders while simultaneously bringing the energy and talents of these students to the halls of our yeshiva. These young men share Friday morning ruach (singing and dancing), deliver mishnayot classes to eighth graders, and lead small groups (chaburot) of sixth and seventh graders.

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The Yeshiva University-RYNJ School Fellowship serves as a paradigm for developing and training future educators and leaders while simultaneously bringing the energy and talents of these students to the halls of our yeshiva

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Financial Summary This report outlines the key financial and operating data for the Rosenbaum Yeshiva of North Jersey. A summary of the financial results for the 2010/2011 academic year appears at the end of this report. Our Yeshiva’s financial statements are audited every year by an independent auditor. The 2010/2011 figures discussed in this section summarize some of the important metrics contained in those audited financial statements.

Enrollment and Class Sizes Enrollment for the 2011/2012 academic year stands at 1,015 students in Nursery through 8th grade, a 3% increase from a total enrollment of 986 students in 2010/2011, representing the highest enrollment in the history of the Yeshiva. We continue to experience growth in our early childhood program and have enrolled new students into our elementary school, helping to fill classes without incurring significant additional expenses. We had six full Kindergarten classes in each of the last six years leading each year to increased enrollment in the elementary school. Our classes entering kindergarten and first grade have been larger than our graduating eighth grade. Our Kindergarten through sixth grades average 110 students.

We remain focused on recruiting and currently project increased enrollment to approximately 1,050 students, a 3.6% increase for 2012/2013, as we graduated 76 children in June 2012.

For the 2012/2013 school year, we will have 11 preschool classes, 31 lower school (grades one through five) classes, 15 middle school (grades six through eight) classes, and 6 classes for our Transitional Program.

Student enrollment at RYNJ

families

1015 students 491 families (2011/2012)

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students

430 students 224 families (1989/1990)

Our class size is an average of 19 students (less if our Transitional Program is 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 should enrollment increase moderately. With the completion of our new building in 2010, we have the capacity to educate approximately 1,150 students in state-of-the-art facilities in addition to the four Sinai classes housed at RYNJ. This would allow us to spread our fixed costs over a larger tuition base without diminishing the individual attention provided to students.

Tu itio n ola rsh ip 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 $11.6 million for the 2010/2011 academic year and is projected to be approximately $12 million for the 2011/2012 academic year. Gross tuition 10.4% revenue was approximately $12.9 million for the 2010/2011 academic year and is projected to be approximately $13.3 million for the 2011/2012 academic year. As tuition remained flat and 89.6% will not be increased (with certain reductions for pre-school) for the 2012/2013 academic year at an average of approximately $13,000 per student, the increase in gross revenue on a year over year basis is attributable to increased enrollment.

Scholarship ($1.3 million) Net Tuition ($11.6 million) These amounts do not include scrip, dinner or building fund obligations.

Need-based financial aid scholarship grants total approximately $1.3 million. That amount has been relatively consistent in each of the last few years, accounting for approximately 10.5% of gross tuition revenue. Approximately 23% of children of RYNJ families received financial aid of some amount with a financial aid median grant of approximately $4,700 per child. As shown above, financial aid of $1.3 million was granted through our financial aid scholarship program and the Yeshiva raised approximately $1 million in voluntary contributions. The remaining $300,000 provided in financial aid had a net impact on total parent tuition-related obligations of approximately $300 per child.

Other Sources of Revenue (NOT including Building Fund and Building Contributions) 2%

12%

7%

11.5%

88%

13%

9% 21%

$1.5 million 88.5%

33% 11%

4%

UJA Scholarship Reception ($514K) General Contributions Dinner Journal ($167K) NNJ NNJKIDS ($129K) Scholarship General Contributions ($104K) Auction UJA ($29K) Journal

Chinese Auction ($60K) Dinner Scrip ($320K) Parent Dinner Obligations

Other Sources of Revenue ($1.5 million) Net Tuition ($11.6 million)

Scrip ($195K)

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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 are working actively with JEFG and the other local schools to streamline the process and ensure consistency.

Total Scholarship Reception Pledges

2012

$653,000 (2012)

$92,000 (2002)201220122012201220122012201220122012201220122012

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, our Scholarship Reception and NNJKIDS. Charitable contributions received in the 2010/2011 academic year included the scholarship reception which raised a record of $514,000 (and even greater $653,000 in academic year 2011/2012), the dinner which grossed $486,000 ($320,000 dinner parent obligation and $167,000 in additional dinner journal ad revenue), $60,000 from the chinese auction and other contributions (such as Parnas Hayom) of $104,000. In addition, we received $129,000 from NNJKIDS, $29,000 from the UJA Federation and net revenue from our scrip program was $195,000. In total, our non-tuition based income for the 2011/2012 academic year was over $1.5 million, $1 million of which was voluntary contributions to our annual operating budget.

Total Number of Donors

2001

15

Over 1000

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2002 2002

42

143

2003 2003

50

144

2004 2004

Over 500 71

2005 2005

190

up to 500

69 188

2006 2006

63

2007 2007

181 77 213

2008 2008

65

2009 2009

223

73 213

2010 2010

88

212

2011 2011

108

2012 2012

120 287

0

50

$499 and below

100 $500-$999

150

200

$1,000 and above

250

286

300

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 2010/2011, we collected $347,000 from parent building fund obligations and an additional $363,000 from building capital campaign pledges. In addition, we had interest income and other income related to the building of $124,000 (see building/financing chart on page 18).

While the overall level of contributions is comparable to that of many of our peer schools, we believe there is still a significant opportunity for us to grow our revenue in this area. We have begun to expand fundraising efforts beyond our parent body, focusing on cultivating relationships with alumni, alumni parents, grandparents and community leaders. We have embarked upon a strategic effort to build a sustainable “development� program with the goal of raising fundraising levels for years to come, and paying down our debt.

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 and retain our quality faculty and administration. As with most other schools, approximately 87% of the budget, or $10.8 million, accounts for salaries and all related benefits.

In our recently approved budget for 2012/2013, we have included an increased allocation for teacher training, professional development and continuing education programs. Over the last two years, we have gradually increased our pension contribution to achieve a level comparable to other schools in our area while at the same time keeping our salaries flat. For the 2012/2013 school year, we have provided for a modest salary increase for our valuable and dedicated staff.

We employ 216 total employees (many of whom are part-time employees). Our Dean and Associate Dean have ultimate responsibility for running the school. After 29 years of tremendous service to RYNJ as Dean, Rabbi Shmuel Goldstein recently announced his intention to transition to a new role as Director of Academic and Religious Affairs. Beginning September 2012, Rabbi Daniel Price will be our new Head of School.

Over the years, as new programs have been introduced and/or additional administrative needs have arisen, we have asked existing teaching faculty to take on additional responsibility. This allows us to keep costs low and provides a growth opportunity for teaching staff who would like to expand their skills. We have continually benchmarked our staffing and administrative costs to ensure consistency with other schools of our size.

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Over the last few years, we have worked diligently to reduce payroll expenses for existing classes by approximately $500,000 along with other expense reductions. At the same time, our total professional compensation has risen as we add new classes to accommodate higher enrollment. 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 plan to increase use of technology to improve educational efficiencies as much as possible.

Operating and Other Expenses Our total expenses for textbooks, educational materials, and supplies were approximately $445,000. Our facilities expenses, which include the expense of our maintenance staff, repair and cleaning costs and security, were approximately $424,000. Our utilities expenses were approximately $299,000. Insurance costs were approximately $131,000 and our special event programming costs were approximately $45,000. In addition, we have accrued approximately $300,000 of delayed tuition payments. Adding all these categories, our total additional operating expenses were approximately $1.6 million.

Operating Expenses

Delayed Tuition Dinner and Special Event

Salaries and Benefits (86.8%) Utilities (2.4%)

Educational Materials/Supplies

Insurance (1.1%)

Building Maintenance/Security

Building Maintenance and Security (3.4%)

Educational Materials,Insurance Supplies and other (3.6%) Dinner and Special Events (0.4%) Utilities Delayed Tuition Payments (2.4%)

Salaries and Benefits

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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.

We have received new building commitments in the last few years totaling approximately $2.1 million. As of the end of June 2011, we had approximately $747,000 of outstanding pledges and as of January 2012, we had approximately $350,000 of outstanding pledges.

Building Pledges (rounded): Total Pledges窶年ew Building Pledges Unpaid as of July 2010 Pledges Paid in Fiscal Year 2010/11 Pledges Unpaid as of July 2011 Pledges Paid July 2011 through December 2011 Pledges Unpaid as of January 2012

$2,100,000 1,110,000 363,000 747,000 397,000 350,000

Our net debt balance (bank debt net of cash held in bank accounts) at the end of June 2011 was brought down to approximately $7.9 million. Our goal is to bring 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 as we have gone through the recession well without taking on any additional debt.

Building/Financing: Net Debt, Beginning of Fiscal year July 1, 2010

$9,099,325

Fiscal Year Debt Paydown Interest Income and Building Income

123,973

Mortgage Principal Payments

397,763

Building Fund Parent Obligation

347,299

Additional Building Donations Collected

363,365

Total Fiscal Year Debt Paydown

-1,232,400

Net Debt End of Fiscal Year as of June 30, 2011

$7,866,925

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 Laizer Kornwasser at laizerk@yahoo.com

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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 five years with some tuition decreases in select programs. Our goal is to continue to ensure we provide excellence in all aspects of our Yeshiva without increasing tuition obligations for the foreseeable future. To meet this goal, we will need to continue to look for ways to control our expenses, bring our fundraising to a higher level and attract students consistent with our enrollment targets.

12 Month Operating Income and Expenses For the School Year Ending June 30, 2011 Operating Revenue: Tuition Obligations Less Financial Aid Scholarships Net Tuition Income

$12,934,535 - 1,339,941 11,594,594

Parent Tuition Obligations Parent Dinner Obligations

319,675

Scrip Sales

194,861

Total Parent Tuition Obligations

12,109,130

Annual Fundraising Scholarship Fundraising

513,877

Additional Dinner Journal and Chinese Auction

226,746

NNJKids 129,253 General Contributions UJA Federation Total Annual Fundraising Total Annual Operating Revenues

103,853 28,980 1,002,709 $13,111,839

Operating Expenses: Salaries and Benefits

$10,780,534

Other Expenses 19 I Annual Report

Educational Materials, Supplies and Other

445,451

Building Maintenance and Security

424,218

Delayed Tuition Payments

300,000

Utilities 299,348 Insurance 131,029 Dinner and Special Event Expenses Total Other Expenses Subtotal/Pre Mortgage Expense Obligations

45,496 1,645,542 12,426,076

Mortgage Interest

288,000

Mortgage Principal

236,000

Total Annual Operating Expenses Excess set aside for additional Mortgage Principal Total Uses of Revenue

12,950,076 161,763 $13,111,839

A Yeshiva expressing

Hakarat HaTov Thank you to our generous 2010/11 donors.

Listed are the categories of those who have voluntarily contributed to RYNJ in academic year 2010/11, 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 3 families

$10,000 to $25,000 14 families $5,000 to $10,000 22 families $1,000 to $5,000 106 families $500 to $1,000 82 families $100 to $500 195 families

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$25,000 to $50,000 13 families

20

President Rabbi Yehuda Rosenbaum Chairman of the Board Allen Pfeiffer* Vice President, Finance Jonathan Silver Vice President, Administrative Rachelle Mandelbaum Vice President, Development Mordy Rothberg Laizer Kornwasser Vice President, Operations Azi Mandel Vice President, Communications Dr. Michael Wiederkehr Treasurer Jonathan Neiss Secretary Adina Wiener

*Past President

Board of Governors Albert Allen David Carmel Jack Eizikovitz Jackie Feigenbaum* Phil Heimowitz* Dr. Arthur Kook Jeffrey Mayer* Henry Orlinsky Aaron Rosenbaum zt”l* Rabbi Yitzchak Rosenbaum Stuart Rothschild* Yitz Stern Eli Weber* Hillel Weinberger Harvey Wrubel Trustees Dr. Saul Lejtman Menachem Lipner Adeena Mayerfeld Yossie Rubin Menachem Schechter Barry Sklar Elliot Small Dr. Stanley Waintraub Honorary Trustees Rabbi Abe Kramer Hy Nutkis* Milton Polevoy Dr. Belle Rosenbaum Cantor Jack Rosenbaum zt”l Anne Senter Bernard Struhl

Board of Directors Bryan Alter Jonathan Baron Judah Eizikovitz Avi Elishis Ari Fuchs Aryeh Glatter Elisheva Teitz Goldstein Carl Guzman Shira Isenberg Uri Jacobs Dr. Shimmy Kanarek Dr. Philip Kazlow Rabbi Howard Komendant Yoni Lieber Glenn Pfeiffer Nomi Rotblat Naomi Schiff Rachel Wertentheil PTA Presidium Shira Greenberg Miriam Warburg

Dean Rabbi Shmuel Goldstein Associate Dean Rabbi Daniel Price Principal, Judaic Studies Rabbi Dr. Harvey Horn Principal, General Studies Arlene Libman Associate Principal Rabbi David Kaminetsky Associate Principal, General Studies Ann Robbins Early Childhood Director Fran Mermelstein Director of Special Services Helen Adler Director of Transitional Program Barbara Goldstein Mashgicha Ruchanit Cindy Zucker Business Director, Controller Sandra Steinberg

21 I Annual Report

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