HEBREW ACADEMY OF CLEVELAND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1943

Legal Domicile

Principal Officer

DR LOUIS MALCMACHER

Phone

2163215838

Tax Period

2024-07-01 to 2025-06-30

HEBREW ACADEMY OF CLEVELAND, founded in 1943, is a mid-sized nonprofit that reported $37.8M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $33.2M left a modest 12% surplus.

Mission

THE MISSION OF THE HEBREW ACADEMY IS TO IMBUE ALL STUDENTS WITH A LOVE OF GOD, TORAH AND ERETZ YISROEL AND TO PREPARE THEM TO ACHIEVE EXCELLENCE IN TORAH AND GENERAL KNOWLEDGE BASED ON SUCCESSFUL COOPERATION AMONG FAMILY, JUDAIC AND GENERAL STUDIES FACULTY AND COMMUNITY. THE CREATION OF ERETZ YISROEL IS ONE OF THE SEMINAL EVENTS IN JEWISH HISTORY. RECOGNIZING THE SIGNIFICANCE OF ERETZ YISROEL AND ITS NATIONAL INSTITUTIONS, WE SEEK TO INSTILL IN OUR STUDENTS AN ATTACHMENT TO ERETZ YISROEL AND ITS PEOPLE AS WELL AS A SENSE OF RESPONSIBILITY FOR THEIR WELFARE.

Program Service Accomplishments

Program 1

Expenses: $30,137,005 Revenue: $24,338,283

THE ACADEMY, OFFERING A COMPLETE AWARD-WINNING JUDAIC AND SECULAR EDUCATIONAL PROGRAM FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL OPENED ITS DOORS FOR THE 82ND SEASON IN SEPTEMBER OF 2024 WITH AN...

THE ACADEMY, OFFERING A COMPLETE AWARD-WINNING JUDAIC AND SECULAR EDUCATIONAL PROGRAM FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL OPENED ITS DOORS FOR THE 82ND SEASON IN SEPTEMBER OF 2024 WITH AN ENROLLMENT OF 1,475 STUDENTS. THE ACADEMY IS THE LARGEST DAY SCHOOL IN THE STATE OF OHIO. WITH EXCELLENCE AS OUR MOTTO WE STRIVE TO ASCERTAIN THE ABILITIES OF EACH CHILD AND TO HELP EACH CHILD ACHIEVE HIS OR HER FULLEST POTENTIAL. IN ADDITION TO ITS REGULAR CLASSES, TOGETHER WITH THE LOCAL SCHOOL DISTRICT, WE PROVIDE OUR STUDENTS WITH THE SERVICES OF A SCHOOL NURSE, SCHOOL INTERVENTIONISTS, SOCIAL WORKERS, LANGUAGE AND SPEECH SPECIALISTS AND SEVERAL REMEDIAL TEACHERS. SOME OF THE PROFESSIONALS, TOGETHER WITH MEMBERS OF THE SCHOOL'S EDUCATIONAL ADMINISTRATION, FORM A CASE CONFERENCE TEAM WHICH MEETS REGULARLY TO DISCUSS THE PROGRESS OF INDIVIDUAL STUDENTS BROUGHT TO THEIR ATTENTION BY TEACHERS, AND OUTLINE AN INDIVIDUAL EDUCATIONAL PROGRAM FOR EACH CHILD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $12,943,896

Program Service Revenue $24,338,283

Investment Income $403,630

Other Revenue $78,154

TOTAL REVENUE $37,763,963

Expense Breakdown

Grants Paid $8,712,430

Salaries & Benefits $15,591,787

Fundraising Expenses $528,904

Program Expenses $30,137,005

Other Expenses $8,903,940

TOTAL EXPENSES $33,208,157

Year-over-Year Comparison

	2024	2023	Change
Revenue	$37,763,963	$30,632,283	+0.2%
Expenses	$33,208,157	$31,004,263	+0.1%
Net Income	$4,555,806	$-371,980	-13.2%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

577

Volunteers

100

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LOUIS MALCMACHER	PRESIDENT	1.00	Officer Director	$0	$0	$0
IVAN A SOCLOF	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
AMIR JAFFA	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
HARRY M BROWN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JONATHAN HEIFETZ	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
REUVEN DESSLER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RABBI MENASHE WEISS	TREASURER	1.00	Officer Director	$0	$0	$0
HOWARD GOLDMAN	FINANCIAL SECRETARY	1.00	Officer Director	$0	$0	$0
AARON EVENCHIK	TRUSTEE	1.00	Director	$0	$0	$0
ADAM POLLACK	TRUSTEE	1.00	Director	$0	$0	$0
ALAN SCHABES	TRUSTEE	1.00	Director	$0	$0	$0
ALAN SCHLESINGER	TRUSTEE	1.00	Director	$0	$0	$0
AVI YUSPEH	TRUSTEE	1.00	Director	$0	$0	$0
AVROMI MEYSTEL	TRUSTEE	1.00	Director	$0	$0	$0
BINYOMIN SCHWARTZ	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN M WOLOVITZ	TRUSTEE	1.00	Director	$0	$0	$0
CHAYA WOLF	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL FLEKSHER	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL GOTTESMAN	TRUSTEE	1.00	Director	$0	$0	$0
DAVID FARKAS	TRUSTEE	1.00	Director	$0	$0	$0
DAVID KELLER	TRUSTEE	1.00	Director	$0	$0	$0
DAVID POLLACK	TRUSTEE	1.00	Director	$0	$0	$0
DAVID SEIGER	TRUSTEE	1.00	Director	$0	$0	$0
DOV BERMAN	TRUSTEE	1.00	Director	$0	$0	$0
DOV FRANKEL	TRUSTEE	1.00	Director	$0	$0	$0
DOVI KUTOFF	TRUSTEE	1.00	Director	$0	$0	$0
DOVID MALCMACHER	TRUSTEE	1.00	Director	$0	$0	$0
HYMIE KELLER	TRUSTEE	1.00	Director	$0	$0	$0
JEFF ZUCKERMAN	TRUSTEE	1.00	Director	$0	$0	$0
JOSHUA KLARFELD	TRUSTEE	1.00	Director	$0	$0	$0
LINDA BENSOUSSAN	TRUSTEE	1.00	Director	$0	$0	$0
MARK BERKOWITZ	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL HARRIS	TRUSTEE	1.00	Director	$0	$0	$0
MOSHE NEUMAN	TRUSTEE	1.00	Director	$0	$0	$0
NATHAN POLLACK	TRUSTEE	1.00	Director	$0	$0	$0
NATI KLEIN	TRUSTEE	1.00	Director	$0	$0	$0
NISSI HEIFETZ	TRUSTEE	1.00	Director	$0	$0	$0
RABBI ELCHANAN STERN	TRUSTEE	1.00	Director	$0	$0	$0
RABBI NAPHTALI BURNSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
RABBI YITZ FRANK	TRUSTEE	1.00	Director	$0	$0	$0
RABBI YOSEF REICHMAN	TRUSTEE	1.00	Director	$0	$0	$0
RAFI ISRAELI	TRUSTEE	1.00	Director	$0	$0	$0
SAM SALAMON	TRUSTEE	1.00	Director	$0	$0	$0
SHAYA LEMPEL	TRUSTEE	1.00	Director	$0	$0	$0
SHLOMO KOYFMAN	TRUSTEE	1.00	Director	$0	$0	$0
SHLOMO MALCMACHER	TRUSTEE	1.00	Director	$0	$0	$0
SURI GOLDMAN	TRUSTEE	1.00	Director	$0	$0	$0
YEHUDA SALAMON	TRUSTEE	1.00	Director	$0	$0	$0
YONAH JACOBS	TRUSTEE	1.00	Director	$0	$0	$0
YONATAN SPOLTER	TRUSTEE	1.00	Director	$0	$0	$0
YONI KLEIN	TRUSTEE	1.00	Director	$0	$0	$0
RABBI ELI DESSLER	FINANCIAL DIRECTOR	40.00	Highest	$223,510	$6,705	$230,215
RABBI SIMCHA DESSLER	EDUCATIONAL DIRECTOR	40.00	Highest	$113,374	$3,401	$116,775
DR PHILLIP SCHWARTZ	PRINCIPAL	40.00	Highest	$126,362	$3,791	$130,153
RABBI ASHER NEWMAN	PRINCIPAL	40.00	Highest	$108,711	$3,261	$111,972

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$37,763,963	$33,208,157	$81,582,683	$4,555,806
2024	$30,632,283	$31,004,263	$76,438,841	$-371,980
2023	$33,456,074	$28,418,457	$75,600,275	$5,037,617
2022	$32,830,849	$27,148,181	$66,835,840	$5,682,668
2021	$38,136,745	$25,698,946	$67,295,611	$12,437,799
2021	$38,136,745	$25,698,946	$67,295,611	$12,437,799
2020	$38,276,243	$22,609,264	$49,895,625	$15,666,979
2019	$24,290,955	$23,085,840	$32,083,065	$1,205,115
2018	$21,957,118	$20,921,741	$30,676,464	$1,035,377