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 2022-2023 budget illustrates the importance of the Annual Sustaining Contribution in allowing Beth Jacob to continue to be the vibrant congregation that it is today:
How much of an ASC increase are we asking you for?
- Basic tzedakah principle tells us to give 10% to charity
- We expect that you will give a meaningful portion of your annual charitable contributions to Beth Jacob, we hope each household considers giving about 2% of their annual income to Beth Jacob
- Monthly or quarterly giving: To help our cash flow and reduce billing and bookkeeping costs, sign up for monthly or quarterly automatic withdrawals.
- IRA giving: If you need to make a Required Minimum Distribution from an IRA, there are usually tax advantages to paying ASC directly from your IRA. Contact your financial adviser about this.
- Write a check: Make a payment in full at the beginning of fiscal year, i.e. in July
- Donations of Stocks and Bonds: Contact Elaine Samuelson at firstname.lastname@example.org if you have stocks that you would like to donate.
What is this “voluntary contribution” about?
- We are asking each member family to add $120 to their ASC to offset the costs of needed building & security upgrades to help balance the budget
- The reasons behind this:
- Increased building needs now that we are using it again
- Increased security needs in the wake of antisemitic acts that have been perpetrated against other synagogues
- We did our best to balance the budget but were unable to do so without adding this voluntary contribution.
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.
If you would like to receive more information on Beth Jacob’s finances, please contact Board of Trustees Vice President of Finance, Leonard Oppenheimer