MA’AYANOT ANNUAL REPORT

MA’AYANOT ANNUAL REPORTYEAR ENDING JUNE 2017

OUR MISSIONMa’ayanot is an all-girls Modern Orthodox Yeshiva High School dedicated to providing a Torahbased education that promotes middot, derekh eretz, and academic excellence across all disciplines.By providing a supportive and nurturing environment that uniquely allows young women to flourishreligiously, socially, and intellectually, Ma’ayanot prepares graduates who: Lead lives shaped by halakhic commitment, avodat Hashem, and limud haTorah Seek and succeed at the highest levels of Torah scholarship and academic achievement Engage with new ideas, embrace new challenges, work collaboratively, and respect differences Take initiative, express creativity, and assume leadership roles Fully engage with their communities, Am Yisrael, and the world at large Possess a deep love of Medinat Yisrael and advocate on her behalf שתה מים מבורך ונזלים מתוך בארך יפוצו מעינתיך חוצה ברחבות פלגי מים Drink water from your own cisternand flowing water from your own well.Then your springs will spread outward,streams of water in the thoroughfares. טז - טו : משלי ה Proverbs 5:15-16

PRINCIPAL’S MESSAGEMa’ayanot is built on a vision of cultivating students’ skills and confidence so that they are equippedto engage with the world from a perspective of both openness and faith. Students experienceclasses in which they develop the textual, technical, and analytical skills to be independentlearners, and in which they are encouraged to engage in honest, respectful dialogue and selfexpression. Our wonderful guidance staff nurtures students’ self-awareness, sensitivity to others,and social-emotional growth. Co-curricular activities foster student leadership and talents, andTorah programming helps students seek authentic paths to spiritual growth. In a myriad of greatand small ways, students learn to engage with ideas, experiences, and people in a reflective,thoughtful way that is respectful of their individuality, and to give back to the Jewish community and the world communitywith a spirit of generosity and inclusiveness.We are proud to present this Annual Report, which demonstrates that the state of the school is strong and that our studentsare thriving. We also take this opportunity to thank our donors, whose generosity has allowed us to dream big in our neverending quest to find ways to excite and inspire our students. We hope you will continue to generously partner with us inthe year to come as we continue to strive to provide a uniquely supportive and nurturing environment that allows all of ouryoung women to flourish -- personally, religiously, socially and intellectually -- to their fullest potential.B’yedidut,Mrs. Rivka KahanPrincipalPRESIDENT’S MESSAGEWe are pleased to present our Annual Report for the year ended June 30, 2017. First and foremost,this report provides a financial accounting for our stakeholders, including accountings of revenues,expenditures and scholarship data. The report also highlights healthy school population and demographicdata, and a summary of our students’ formidable academic achievements. We are confident that afterreading this report you will conclude that Ma’ayanot provides a high quality education in a fiscallyprudent manner.Of course, none of this would be possible without the village of people who work tirelessly to ensurethat Ma’ayanot continues to thrive and grow. We take this opportunity to thank our Board, and especially our Financeand Scholarship Committees, for the time and effort they invest to ensure that Ma’ayanot remains on sound financialfooting. We also take this opportunity to thank Mrs. Kahan and the entire administration for their educational vision andleadership, and our outstanding and talented faculty who work tirelessly to create an atmosphere in which our daughtersgrow, religiously and intellectually, to their fullest potential. Last, but certainly not least, we thank our donors who havemade Ma’ayanot a philanthropic priority over the years. We hope this report confirms that Ma’ayanot is an institutionworthy of your support and that you will continue to collaborate with us in our efforts to provide unparalleled educationalopportunities for the daughters of our community for many years to come.Sincerely,Daniel AltmanPresident

SHE IS ACCOMPLISHED Class of 2017 graduates were accepted to the following Ivy and Honors-level programs: Barnard College, MacaulayHonors/City College of New York, Macaulay Honors/Queens, University of Maryland Honors, Princeton University,Rutgers University Honors, Yeshiva University Honors. The class of 2017 received 13 merit scholarship awards for a four-year collective total of 670,000, an impressiveaccomplishment for a class of 60 students. Awards range from 3000 to 25,000 annually. Three members of the class of 2017 are National Merit Commended Scholars. All six students from the class of 2017 who applied to Stern Honors were accepted and awarded scholarship fundingranging from 10,000 - 25,000.CLASS OF 2017 MEAN TEST SCORESSAT ScoresNational AverageADVANCED PLACEMENT COURSES OFFEREDBiology, Calculus AB, Calculus BC, Chemistry, ComputerScience, English Language & Composition, Literature &Composition, Physics, Psychology, Statistics, US History, USEvidence BasedReading & Writing620533Mathematics580527Government, Studio Art.TOTAL:12001060Students can also receive college credit for taking the Behina Yerushalmitelective in their senior year.ACT ScoresNational .221.4Science24.521Composite24.7212017 AP SCORES70 students took 106 AP Examinations.6%Scored 524%Scored 440%Scored 3Scored 330%PERCENT OF TOTAL AP STUDENTSWITH SCORES 3 NATIONALNEW JERSEYMA’AYANOT58%69%94%2017 AP HONORS6 AP Scholars1 AP Scholar with Honors7 AP Scholars with Distinction

FINANCIAL INFORMATION SUMMARYFINANCIAL DATA ARE EXTRACTED FROM AUDITED FINANCIAL STATEMENTSREVENUE: JULY 2016 - JUNE 2017REVENUE/EXPENSE TRENDS:LAST 3 YEARS6% 1.4%Tuition and Fees 5,477,5599.6%Annual Dinner 633,779Other Fundraising 396,60383%Other 86,799REVENUEEXPENSES2014-15 6,278,149 6,212,9502015-16 6,409,446 6,260,3532016-17 6,594,740 6,545,982Revenue to expenses have trended flat inrecent years. Included in the 2016-17 dataare one-time capital expenditures incurredin constructing a new STEAM lab, whichare offset by grant and fundraising incomedesignated for this project.TOTAL REVENUE 6,594,740EXPENSES: JULY 2016 - JUNE 20173.5%YEAR7.5%Salaries & Benefits 4,992,553SCHOLARSHIP/DISCOUNT FUNDSAWARDED: LAST 3 YEARSOperating & Facilities 866,56613%Student Activities & Sports 205,19776%Other 481,666TOTAL EXPENSES 6,545,982% OF NT FUNDSAWARDED2014-15 1,212,88740%2015-16 1,276,82439%2016-17 1,469,77840.5%ENDOWMENT: Ma’ayanot is a named beneficiary on a generous legacy account. In addition,Ma’ayanot has received three endowment gifts, for a total of 160,000, that support four graduationawards. For more information please see “Giving Opportunities” on the back cover of this report.SCHOOLDEMOGRAPHICSTotal school population for 2016-17 was291. Approximately one-third of the schoolpopulation resides in Bergen County,with the majority of the remainder comingfrom Manhattan, Riverdale, Westchester,Monsey, Highland Park, West Orange, EastBrunswick, Edison and Staten Island.CLASS OF 2021RYNJYeshivat Noam16%3%22%3%Yavneh AcademyMoriah SchoolMDS4%SAR20%11%BPYRPRY7%6%7%JFSOther

DONORS 2016-2017Thank you to all of our donors for your generous support. To join our Legacy Circle please contactPam Ennis at Ennisp@maayanot.org. 100,000 The Gottesman FundMr. Menachem & Mrs. Rena Schnaidman 35,000 - 99,999AnonymousAnonymousMr. Jonathan & Mrs. Leah Silver 20,000 - 34,999AnonymousMr. Shimmie & Mrs. Alissa HornMr. Tim & Mrs. Ria LevartMr. Daniel & Mrs. Leyla PosnerPrice Waterhouse Cooper, LLCMrs. Michelle Ritholtz 15,000- 19,999Mr. Jack & Mrs. Bonnie EizikovitzMr. Yisroel & Dr. Shira HochbergMr. Saul & Mrs. Deena KaszovitzDr. Elliot & Mrs. Lori LinzerMr. Randall & Mrs. Chava RoseMr. David & Mrs. Shani Schwartz 10,000 - 14,999Mr. Ed & Mrs. Marilyn CromanMr. Etiel & Mrs. Lianne FormanMr. David & Mrs. Marcia KreinbergMr. Yosef & Mrs. Lisa RubinsteinMr. Barry & Mrs. Joy Sklar 5,000 - 9,999Dr. Eric ApplebaumMrs. Ariela BalkMr. Nachum & Mrs. Sara LeahBarishanskyCamp Trunk Delivery LLCDr. Howard & Mrs. Paula FriedmanMr. Eric & Mrs. Tamar GoldsteinMr. David Hait & Ms. Eleanor MerczynskiMr. Benyamin & Mrs. Esti KaminetzkyRabbi David & Mrs. Chani MossMr. Michael & Mrs. Karen RaskasMr. Elie & Mrs. Aviva RosenfeldMr. Joshua & Mrs. Beth SchwartzMr. Yitzie & Mrs. Yosepha Solomon 2,500 - 4,999Mr. Dov & Mrs. Sheva AdlerMr. Jonathan & Mrs. Leah AdlerMr. Michael & Mrs. Shira AshendorfMr. Ari & Mrs. Helene BousbibMr. Justin & Ms. Juli Smith BraschDr. Ronald & Mrs. Pamela EnnisDr. Joshua & Mrs. Amy FogelmanMr. Arthur & Mrs. Judi GoldbergDr. Martin & Mrs. Shera GoldmanMr. Sinclair & Mrs. Sharon HabermanRabbi Mark & Mrs. Linda KarasickMr. Ethan & Mrs. Melissa KeiserMr. Marc & Dr. Naomi KnollerLakeland BankMr. Yussie & Mrs. Cheryl LeiserMr. Steven Mermelstein & Dr. TamaraHeimlichMr. Henry & Mrs. Mindy OrlinskyMr. Ami & Mrs. Chavi RosenMr. Daniel & Mrs. Nechama SaksMr. Larry & Mrs. Shifra ShafierMr. Ed & Mrs. Dalia StelzerDr. Mark & Mrs. Debby TeicherMr. Edward & Mrs. Esther TurkelDr. Moshe & Mrs. Ilana WertenteilMr. Marc Zwebner 1,000 - 2,499AnonymousRabbi Yosef & Mrs. Sheryl AdlerMr. Daniel & Mrs. Gabrielle AltmanMr. Jerry & Mrs. Rena BartaRabbi Elie & Dr. Miriam BermanMs. Shoshana BleibergMs. Susan BorgerMr. Elie & Mrs. Iris BorgerBrad-CoreMr. Brad & Mrs. Linda RuderMr. Ilya & Mrs. Ann BrodskyMr. Fred & Mrs. Lyn CohenMr. Ruvan & Mrs. Shelly CohenMr. Uriel & Mrs. Yael CohenCongregation Beth Abraham,Rabbi Yaakov and Mrs. Peshi NeuburgerMr. Bennett & Mrs. Yocheved DeutschMr. Raphael & Mrs. Leslie EdelmanMr. Richard & Mrs. Annette FeldmanRabbi Jonathan & Mrs. Rachel FeldmanMr. Aaron & Mrs. Mati FriedmanMr. Maurice FriedmanMr. Elliot & Mrs. Deborah GibberDr. Stephen & Mrs. Marcy GlicksmanDr. Moshe & Mrs. Bruchie GoldsteinLawrence B. Goodman & Co., P.A.Mr. Yisrael & Mrs. Mindy GottesmanRabbi Mark & Mrs. Chumi GottliebMr. Sholem & Mrs. Wendy GreenbaumDr. Alan & Mrs. Miriam GreenspanDr. Jay & Mrs. Aviva GrossMr. Yehuda & Mrs. Shoshana HalpertMr. Zev & Mrs. Shoshana HalstuchDr. Payam & Mrs. Joanne HanianMr. Benzi & Mrs. Malka HerbstMr. Barry & Mrs. Margaret HerzogMrs. Pamela HirtHuntleigh USA CorporationMr. Amit MeirMr. Yehuda & Mrs. Shira IsenbergJan Meyer & Associates, PCDr. Shimmy & Mrs. Pnina KanarekMr. Avi & Mrs. Becky KatzMr. Avi & Mrs. Rivi KatzMr. Alex & Mrs. Dena KayeDr. Allan & Mrs. Lani KayeMr. David & Mrs. Gail KrasnerMr. Gary & Mrs. Tanya KrimDr. Seth & Mrs. Riki LandaMr. Avery & Mrs. Linda LaubDr. Murray LebenDr. Paul & Mrs. Esther LererDr Miles & Mrs. Valerie LevinMr. Nathan & Mrs. Shari LindenbaumMr. Richard & Mrs. Leora LinhartMr. Steven & Mrs. Sally MalechMr. Stan MandelkernMr. Etan & Mrs. Valerie MirwisDr. Howard NathansonMr. Ari & Mrs. Becky NeugroschlMr. Terry & Mrs. Gail NovetskyMr. Daniel & Mrs. Chani OshinskyMr. Howie & Mrs. Carrie PolonetskyMr. Yossi & Mrs. Sara PragerMr. Ira & Mrs. Tzippi PressMr. Yaakov & Mrs. Adeena PultmanMr. Naftali & Mrs. Sharon RatzersdorferMr. & Mrs. Arthur RitholtzDr. & Mrs. David RitholtzMr. Marc & Mrs. Elana RothenbergMr. David & Mrs. Margi SaksMr. Jerry & Mrs. Anne SametDr. Amit & Mrs. Elisheva SchwartzMr. William & Mrs. Suzanne SchwartzMr. Norman Sohn & Mrs. LoisBlumenfeldMr. Mordecai & Mrs. Vivienne SoloffMr. Gary & Mrs. Cyla SteinmetzMr. Ronnie & Mrs. Beth SternDr. Larry & Mrs. Chana StiefelMr. Aaron & Mrs. Abigail StiefelMr. Ira & Mrs. Marsi TokayerMs. Jean TurkelMr. Larry Wiseman & Mrs. Susan PollockMrs. Susan ZeligMr. Ira & Mrs. Grunny Zlotnick 250 - 999Dr. Seymour & Mrs. Ruth AdlerMr. Herb & Mrs. Fran Alexander