Emet Classical Academy

Nonprofit profile at a glance

EIN
994104065
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
New York, NY, USA
Phone
2127961655
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Reported finances

Revenue
$7,250,501
Expenses
$3,513,315
Assets
$5,923,839
Liabilities
$2,186,653

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • ERIC COHEN (CEO AND CHAIRMAN)
  • HANNA SOLOMON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ERIC COHEN (CEO AND CHAIRMAN): $928,681 total reported compensation
  • RABBI HERSHEL LUTCH (SECRETARY AND TREASURER): $472,621 total reported compensation
  • SEAN CLIFFORD (TRUSTEE): $396,181 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Emet classical academy is committed to the pursuit of human excellence in every academic and cultural field and the perpetuation of jewish, zionist, and american exceptionalism. See scedule o.school academic program focuses on the best of western culture, the foundational ideas of jewish civilization, and the advanced study of math, modern science, art, and music. Emet welcomes families of any background and aims to prepare our students for lives of jewish purpose and civic leadership.

What it reported doing in 2024

During the 2024-25 school year, the organization successfully launched its inaugural academic program, serving 30 students in grades 5, 6, and 9. The school recruited, hired, and onboarded seven faculty members, an admissions professional, and three support staff members to support its educational mission. Operating from two community-center facilities, the organization successfully transformed these spaces into functional academic environments. (see schedule o).foundational governance and operational systems were established, including faculty, student, and family handbooks, as well as comprehensive policies and procedures. The school developed and implemented a college-preparatory curriculum that included advanced-level coursework and established core traditions and community norms, including a daily assembly focused on reinforcing jewish values, character development, and community engagement. These efforts laid the foundation for the school's continued growth and long-term success.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 87% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 79
  • Accountability: 77
  • Sustainability: 66
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.2%; rating input score 40
  • Program expense ratio: 82.5%; rating input score 83
  • Fundraising efficiency: $59.6 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 51.5%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 1.69; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 15.5%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 40.2% of revenue deployed · 82.5% of spending went to programs
  • Governance: 6 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.9M in reported program spending
  • Leadership: top reported pay $929K · 13 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.