Nefesh B'Nefesh's U.S. arm has flagged first-class travel for a key employee and conflict-of-interest transactions in nearly every recent Form 990. Net assets were negative for two years before recovering. Here's where the $11.4M it raised in FY2024 goes.
Nefesh B'Nefesh's U.S. fundraising entity, legally filed as Nefesh Bnefesh Jewish Souls United, reported $11,448,382 in total revenue and $8,009,200 in total expenses for fiscal year 2024, ending the year with $6,883,522 in net assets. Its Form 990 has flagged two separate governance disclosures — first-class or charter travel provided to a key employee, and reported conflict-of-interest transactions — in nearly every fiscal year with available data since 2011.
What Is Nefesh B'Nefesh?
Nefesh B'Nefesh (EIN 22-3804152), based in Paramus, New Jersey and tax-exempt since August 2001, is the U.S. fundraising and outreach arm supporting Nefesh B'Nefesh's aliyah (immigration to Israel) programs. The organization, jointly founded by Rabbi Yehoshua Fass and businessman Tony Gelbart in 2001 after Fass lost a family member in a terrorist attack, helps American and Canadian Jews move to Israel by removing financial, professional, and logistical obstacles, according to Wikipedia and the organization's own public statements. Since 2002, Nefesh B'Nefesh has brought more than 80,000 immigrants to Israel.
Tony Gelbart serves as President and Treasurer; Rabbi Yehoshua Fass, listed on Form 990 as "Joshua Fass, Director of Development," is the organization's co-founder and executive director.
Nefesh B'Nefesh USA at a Glance — FY2024 Form 990
| Metric | FY2024 |
|---|---|
| Total Revenue | $11,448,382 |
| Total Expenses | $8,009,200 |
| Net Income | $3,439,182 |
| Total Assets | $7,108,316 |
| Total Liabilities | $224,794 |
| Net Assets | $6,883,522 |
| Executive Compensation | $190,000 (2.4% of expenses) |
| EIN | 22-3804152 |
Source: Nefesh Bnefesh Jewish Souls United, Form 990 for fiscal year ended December 31, 2024, filed October 21, 2025. Read the full filing history on ProPublica's Nonprofit Explorer.
Why Has Nefesh B'Nefesh's Revenue Swung So Sharply?
Nefesh B'Nefesh USA's revenue has moved in two distinct eras. From 2011 through 2016, annual revenue ran between $16.2 million and $22.9 million. Revenue then collapsed to roughly $2.1 million to $2.3 million a year for fiscal years 2017 through 2019 — an 85%-plus drop — before partially recovering: $7.25 million (2020), $3.59 million (2021), $5.24 million (2022), $9.93 million (2023), and $11.45 million (2024). The organization's own filings do not explain the cause of the 2017 drop in the summary data; it coincides with a change in executive compensation reporting, when Joshua Fass's listed pay fell from $271,342 (2016) to $90,000 (2017).
Has Nefesh B'Nefesh Disclosed Governance Issues?
Yes, on two fronts. First, its Form 990 has reported that the organization provided first-class or charter travel to a key employee or officer — a disclosure required on Schedule J — in fiscal years 2015, 2016, and every year from 2020 through 2024, per ProPublica's Nonprofit Explorer. Second, its Form 990 has separately reported conflict-of-interest transactions on Schedule L in fiscal years 2020 through 2024. Both disclosures mean the specific details (which employee received the travel; which parties were involved in the reported transactions) are itemized only in the full Schedule J and Schedule L filings, not in the summary data.
How Much Does Leadership Earn?
| Executive | FY2024 Compensation | Other |
|---|---|---|
| Joshua Fass (Rabbi Yehoshua Fass), Director of Development | $190,000 | $0 |
Fass's compensation has fluctuated over the years shown: from a peak of $650,404 in fiscal year 2011 (a year that also included substantial other salary costs), down to $90,000 in 2017, back up to $202,740 in 2019-2020, and $190,000 in each of the past several fiscal years. President and Treasurer Tony Gelbart and the rest of the small board — including Cherna Moskowitz, Laurie Moskowitz Hirsch, Robert Goldberg, Russell Robinson, and Secretary Doris Brandstatter — receive no compensation.
Did Nefesh B'Nefesh USA Ever Have Negative Net Assets?
Yes. The organization's Form 990 filings show net assets of -$9,173,934 in fiscal year 2011 and -$2,010,038 in fiscal year 2012 — meaning liabilities exceeded assets in both years. Net assets turned positive in fiscal year 2013 ($1.37 million) and have remained positive since, reaching a low of -$352,112 again briefly in fiscal year 2018 before recovering to $6,883,522 by fiscal year 2024.
Net Assets and Financial Position
Total liabilities have fallen sharply in recent years: from $5,638,399 in fiscal year 2021 and $3,641,817 in fiscal year 2023 to just $224,794 in fiscal year 2024 — a liabilities-to-assets ratio of roughly 3%, a marked improvement from the organization's more leveraged position earlier in the decade.
Related Charity Financial Audits
For comparable audit-based financial profiles of other major Israel-focused philanthropies, see Olam's UJA-Federation of New York financial profile, Olam's FIDF financial profile, Olam's American Friends of Magen David Adom financial profile, Olam's Birthright Israel Foundation financial profile, Olam's ORT America financial profile, Olam's American Friends of Leket Israel financial profile, Olam's One Family Fund financial profile, and Olam's Weizmann USA financial profile.
Frequently Asked Questions About Nefesh B'Nefesh USA
What is Nefesh B'Nefesh?
Nefesh B'Nefesh (EIN 22-3804152) is the U.S. 501(c)(3) fundraising and outreach arm supporting aliyah (Jewish immigration to Israel) programs, founded in 2001 by Rabbi Yehoshua Fass and Tony Gelbart.
Has Nefesh B'Nefesh disclosed first-class travel for its executives?
Yes. Its Form 990 has reported that the organization provided first-class or charter travel to a key employee or officer in fiscal years 2015, 2016, and every year from 2020 through 2024, per ProPublica's Nonprofit Explorer. Details are itemized only in the full Schedule J filings.
Has Nefesh B'Nefesh disclosed conflicts of interest?
Yes, in fiscal years 2020 through 2024. These disclosures cover loans, grants, or business transactions with officers, key employees, their family members, or businesses they control.
How much money does Nefesh B'Nefesh USA raise?
In fiscal year 2024, it reported $11,448,382 in total revenue, up sharply from a low of roughly $2.1 million to $2.3 million a year between fiscal years 2017 and 2019.
What is Nefesh B'Nefesh's EIN?
22-3804152. It is a 501(c)(3) tax-exempt organization, and donations are tax-deductible.
Where can I read Nefesh B'Nefesh's actual tax filings?
Full-text Form 990 filings for Nefesh Bnefesh Jewish Souls United, going back to 2011, are publicly available on ProPublica's Nonprofit Explorer.
Sources
Financial figures are drawn from Nefesh Bnefesh Jewish Souls United's Form 990 filings for fiscal years 2011 through 2024, hosted by ProPublica's Nonprofit Explorer. Organizational history is drawn from Wikipedia and the organization's own public statements.
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