Mark Nordlicht, the Platinum Swindle and the Yeshiva that is Potentially Collateral Damage

Yeshiva Price Wars – (thank you to the Contributor for this)

Bad for education but good for parents it appears Westchester Torah Academy has started a Yeshiva price war.
A competing Yeshiva is currently offering parents 2019-2020 tuition for grades Pre-K and lower at roughly 10% less than WTA’s 2018-2019 tuition. The caveat is the reduced rates are currently being offered to parents who enroll their children before the end of May 2019.
WTA has yet to respond still showing 2018-2019 rates on their website.
The competing Yeshiva also requires students be immunized if not claiming religious exemptions.
WESTCHESTER DAY SCHOOL
Claimed Exemptions
percent medical exemptions 0
percent religious exemptions 0.63
Immunizations
percent immunized polio 99.4
percent immunized measles 99.4
percent immunized mumps 99.4
percent immunized rubella 99.4
percent immunized diphtheria 99.4
percent immunized hepatitisb 99.4
percent immunized varicella 99.4
percent completely immunized 99.4
Will be interesting to see how all this plays out with WDS now having to offer the same quality care/education the are known for but at lower prices vs Mark Nordlicht’s educational model that he stated as:
“Let’s start with what can the community afford and then figure out how we can offer the most within that budget.”
WTA currently loses $500K a year with the deficit made up by donations. If Nordlicht loses his current criminal case and subsequent SEC case, there is a good chance WTA will lose a good portion of their donations.
Now potentially having to lower tuition it just puts that much more of a strain the WTA’s limited finances.

One thought on “Mark Nordlicht, the Platinum Swindle and the Yeshiva that is Potentially Collateral Damage

  1. I just learned that the charitable foundation setup by Nordlicht’s parents pumped $1.5 Million (2/3rds of their assets) into WTA in 2017. At a burn rate of $500K/year that should keep the doors open until 2020/21. Then again I understand that enrollment dropped quite a bit even though adding another grade. More grades and less students means a bigger loss.

    If my information is correct and there has been a mass exodus of students (and staff for that matter), It’s looking like WTA is going to end up like all of Nordlicht’s other past ventures.

    On top of it all, competing Westchester Day School’s reduced tuition really took a toll on WTA this year.

    Just waiting now on the Fed’s appeal of Nordlicht’s retrial (https://www.nytimes.com/2019/11/11/business/dealbook/platinum-black-elk-overturned.html) and for the SEC case.

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