One of the strongest core values for Beth Jacob is that there are no financial barriers to membership. We have always hoped that those who can afford to pay more will do so to cover those who cannot. Beth Jacob funds its operations through a combination of Annual Sustaining Contributions (ASC), fundraising events, income from programs and life cycle events, and income from its endowments. The breakout of our 2020-2021 budget illustrates the importance of the Annual Sustaining Contribution in allowing Beth Jacob to continue to be the vibrant congregation that it is today:
Over the course of the next four years, we hope to increase the ASC Pledges to 65% of our revenue, allowing Beth Jacob to rely less on the multiple other fundraising mechanisms to meet our base operating expenses. With a budget of just under $1,000,000 each year, it would take an average annual ASC pledge of $2,980 from each of our member families to meet this budget. In 2019, Beth Jacob committed to a five-year plan to raise the actual average ASC pledge of $1,540 in 2019 to an average ASC Pledge goal of $1,920. Our progress the first year was a 6.3% increase. The final goal can be reached through a combination of new families joining Beth Jacob and each existing member family increasing their pledge by 4% each year for the next four years. The range of the actual ASC pledges from our 334 family memberships is illustrated in this graph:
In addition to the ASC pledges and general fundraising, Beth Jacob has 21 individual endowment funds where the annual interest revenue from each fund can be used to pay for specific Beth Jacob programs and expenses.
The total budget for fiscal year 2020-2021 is shown below:
If you would like to receive more information on Beth Jacob’s finances, please contact Board of Trustees Vice President of Finance, Brian Milberg