Financial Update Congregational Meeting 2015 May 3 rd,

2014/15 Fiscal Year Update 2

Financial Update – Congregational Meeting 2013 Operating Fund Recap 3 Year to Date & Projected Income and Expenses Expenses continue in second column DescriptionYTD May 2015 Projected FY14-15 Dues Collected$48,348.77$49, DescriptionYTD May 2014 Projected FY13/14 %of Total Expenses Salary- Rabbi$15,862$17, % Sub Total$15,862$17, % Utilities Gas$2,133$2, % Electric$4,026$4, % Water$1,009$1, % Telephone$1,558$1, % Sub Total$8,726$9, % Description YTD Amount Projected FY % of Total Expenses Cleaning Services $4,400$4, % Yard Services$1,437$1, % Insurance$3, % URJ Membership$2,250$2, % Fire alarm monitoring $ % Supplies$ % Office Equipment$1, % Postage$ % Bank Charges$ % Religious School$1, % Miscellaneous$156$ % Pest Control$ % Security$ % Total Other Expenses $16,484$17, % Total Expenses $41,072$43,951100% Diff Inc/Expense$7,276 $5,773 The board is contemplating a possible hire as a Temple administrator for FY 2015/1016

Financial Update – Congregational Meeting 2013 Capital Campaign Fund Recap 4 Year to Date & Projected Income and Expenses Balance of loan is $108, Next year just from our regular monthly payments we can expect to see a balance of approx. $90,918 Description YTD May Projected FY13/14% of total General Contributions$25, % Yard Sale$2, % Building Assessment$16,362.55$17, % Sub total$43,716.53$45, % Total Revenue$43,716.53$45, % Description YTD May Projected FY13/14% of total Mortgage-Principal$28,314.27$31, % Mortgage-Interest Expense$5,865.73$6, % Total Expenses$34,180.00$38, % Revenue Expenses

Financial Update – Congregational Meeting 2013 Fund Balance Summary 5 Fund balances as of end of May 2015 Fund Ending Balance 01 - GENERAL TEMPLE FUND $ 10, BUILDING MAINTENANCE FUND $ 5, SANG AVE BUILDING $ 1,564, NEW FACILITY FUND - Bank Balance $ 16, NEW FACILITY FUND - Mortgage balance $ (108,918.89) 05 - NEW FACILITY FUND - Investment balance $ 23, RABBI DISCRETIONARY FUND $ RABBI EDUCATION FUND $ RABBI SUPPLEMENT SUPPORT $ HILLEL FOUNDATION $ FARKAS SCHOLARSHIP FUND $ ADULT EDUCATION FUND $ 3, TORAH STUDY $ 1, BOOK FUND $ 1, MUSIC FUND $ JEWISH RENEWAL FUND $ 1, TRIBUTE FUND $ RELIGIOUS SCHOOL $ 1, PROGRAM COMMITTEE $ 1, SOCIAL ACTION COMMITTEE $ YOUTH GROUP $ ROCKWOOD TRAIL BEIT $ ENDOWMENT FUND $ This includes $8K received as matching funds from the CLEAD fund from which $4K will be used to get blinds for the windows and $4K will be applied to the principal of mortgage at end of Fiscal Year

Financial Update – Congregational Meeting 2013 Bottom Line  Dues collections are projected to be higher than operating expenses  Projected excess of $5,773 this year  Income to Operating Fund for FY14/15 is estimated to be about $49,724  The reason for this positive outcome is greatly due to the contributions made by non-members and matching contributions ($6,239 till May)  Our current mortgage balance is of $108,  Loan was renewed in February 2013 for five years  Interest rate decreased from 6.009% to 5.5%  Payments are separate from Operating Fund - $2K per month - $24K per year  By the end of this fiscal year, with the payments of for May and June, we will have a mortgage balance of around $105,918  Counting only our monthly payment of $2K, we have 5 years and 3 months till we finish paying the mortgage  By applying the “extra” $4K at end of FY we will be decreasing the amount we will pay of interest at the end by $1,

2014/15 Fiscal Year Overview & Future 7

Financial Update – Congregational Meeting 2013 Financial Responsibilities for Members  Dues  1.5% gross family income  Minimum dues  Family: $850  Individual: $550  Building Assessment  $400  Capital Campaign  $1,000 minimum contribution for new members(payable over three years) 8 Dues, Building Assessment, AND Capital Campaign contribution must be paid (or pledged and paid by the end of the fiscal year) to be considered a “member in good standing”

Financial Update – Congregational Meeting 2013 Dues Distribution  We will be maintaining the current dues – no increase!  We do have a number of families who are only able to pay minimum dues or below, so please consider increasing your dues if you are able.  Inactive members: 4 Single and 3 Family.  Memberships dropped: 3 Single and 1 family.  FY14/15 no response as of 05/03/15: 6 Single and 5 Families  Two families are associated members 9 DescriptionAmount% of Total Below $ % At $ % Above $ % Total % DescriptionAmount% of Total Below $ % At $ % Above $ % Total % Single Membership Family Membership

Financial Update – Congregational Meeting 2013 Dues are 1.5% Gross Income  What are appropriate dues levels at various income levels? 10 Sample Income Dues at 1.5% of Gross Income $36, $ $40, $ $45, $ $50, $ $55, $ $56, $ $60, $ $70, $1, $80, $1, $90, $1, $100, $1, $150, $2,250.00

Financial Update – Congregational Meeting 2013 Building Assessment vs. Mortgage Cost  The total annual payments for our mortgage are $24,000 (12 $2,000)  In 2014/15, we expect to collect a total of $17, from 43 families/individuals (higher amount, but same number of members as last year)  To meet our annual payments for next year, we would need to collect the building assessment from 60 families/individuals  We have about 53 active families/individuals, so we need to collect assessments from EVERYONE to meet our obligation  However as we know that it is not possible for all our members to pay the full amount of Building Assessment we have to obtain those funds through fundraising efforts. 11

Financial Update – Congregational Meeting 2013 New Membership Dues Pledge Form  In an effort to decrease the amount of paperwork and make it easier for you to fill out our annual pledge form we have modified it. Let’s take a quick look at it together.  Our Temple offers the option of paying your dues through a monthly, quarterly or annual Bank Draft, as well as through credit card via pay pal.  Having your form helps us to project more accurate financial reports and thus plan more effectively for the future.  Your active participation is essential to our Temple 12

Financial Update – Congregational Meeting 2013 Summary  We need participation from everyone – both payment of dues and building assessment and participation in fundraising efforts!  Remember that WE are the ones that make this congregation, not the building, so when you participate in our events you enrich everyone else’s experience as well.  Please make sure to fill out your new pledge form and return it to the office as soon as possible.  Thank you for your support and enthusiasm for our Temple. We look forward for a one more year of good finances, awesome experiences and great learning. 13