IRS Filings Reveal Compensation of President Berman, other Senior Officials and University Finances for 2020
Yeshiva University President Ari Berman earned $692,046 in total compensation between July 2020 and June 2021, according to information from YU’s form 990 filings with the Internal Revenue Service (IRS).
The filings, from YU’s 2020 fiscal year, also revealed compensation for other senior officials and details of YU’s finances.
A form 990 is required of tax-exempt organizations, political organizations and nonexempt charitable trusts. It details an organization’s financial information, and is available to the public shortly after its filing deadline of four and half months after the end of a fiscal year.
Berman’s total compensation, which included his base compensation of $538,439 along with other benefits, declined $53,637 since 2019. In May 2020, in the first months of the pandemic, Berman announced that he would take a 20% salary cut through that December. A university official did not confirm whether this decrease was due to the pay cut.
Berman is also provided with a parsonage house in Teaneck, NJ. The house was purchased by YU before he assumed the presidency in 2017 and is valued by Zillow at over $2 million.
Other top-earning university officials include Vice President of Legal Affairs and General Counsel Andrew Lauer, who earned $631,662 in total compensation, approximately $175,000 less than in 2019, and Chief Financial Officer Jacob Harman, whose total compensation was $587,692, a decrease of roughly $45,000.
Former President Richard Joel remained the ninth most compensated university official, earning $429,633 in total compensation, including $287,280 in base compensation.
In addition to Berman, other university officials took voluntary pay cuts of 5% to 10% between May and December 2020.
The filings also revealed that YU’s total revenue increased by approximately $42 million to $355 million. Of this, $220 million came from tuition and $80 million from donations and grants, with the rest coming from investments, rental income and sales of assets.
YU’s total expenses decreased $10 million year over year to $337 million. Of this, $103 million came from grants and scholarships and $140 million from salaries and benefits. YU also spent over $8 million for security, close to $4 million for repairs and maintenance and over $1.8 million on food.
Unlike 2019, YU’s total revenue was greater than its costs, with a profit of $18 million. In 2019, YU lost over $33 million.
Additionally, Yeshiva University’s total assets broke the $1 billion mark, rising over $170 million. YU’s liabilities also increased from 2019, rising $51 million to $435 million.
The filings also revealed that former Senator Joseph Lieberman is a university trustee. Lieberman was not listed as a trustee on YU’s form 990 from 2019.
YU also increased government lobbying by 143%, spending $280,000. YU spent $129,000 on lobbying in 2019.
Additionally, the filing revealed that YU’s 96th annual dinner in December 2020, held virtually due to the pandemic, brought in $4.5 million in contributions, $1.2 million less than 2018’s dinner. At the time, YU declined to disclose how much it raised.
Schedule B of form 990, which details the names and addresses of university donors who contributed more than $5,000, was redacted from the copy obtained by The Commentator. With the exception of political groups, the IRS does not require donor information on form 990’s to be publicly accessible.
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Photo Caption: IRS Filings reveal compensation of senior officials and university finances
Photo Credit: Kelly Sikkema — Unsplash