Pledge process update and 2014/2015 Budget Analysis

Herb Face April 2013We are on schedule with the process that we described at the January congregational meeting and letters requesting a pledge of commitment for the 2015-2016 year are being mailed to all current members this week. One of the items we promised was a succinct analysis of the budget for the current year (2014‐2015) so all members understand the significance of their contributions and take ownership in the financial health of our congregation.  Although we are still in the early stages of the budgeting process, we do not expect there to be substantial changes for the upcoming year.


Income

By far, the largest amount of our income comes from what was projected to be contributed as annual membership dues; this includes Mitzvah Circle dues that some members contributed over and above the assessed amount of dues. In order to keep our institution running and moving forward, this amount will need to be replaced by the voluntary contribution we are asking our members to pledge for 2015‐2016. You’ll see, however, that this is only about 2/3 of our revenue, and we will need to continue our fundraising efforts, as well as continue to charge fees for specific items, such as school tuition, High Holy Day seats and B’nei Mitzvah fees. Hopefully, as our endowment grows, our investment income will account for a greater percentage of our overall revenue.

Revenue Source 2014-2015 Budget % of Total Income
Dues (including Mitzvah Circle) $885,000 67.3%
School Tuition $217,000 16.5%
Annual Appeal (Kol Nidre Appeal) $45,000 3.4%
Fundraising $45,000 3.4%
Investment Income $40,000 3.0%
Temple Donations $30,000 2.3%
B’nei Mitzvah Fees $25,000 1.9%
High Holy Day Seats $15,000 1.1%
House Rental (Including Children Garden Center) $11,900 0.9%
Bulletin Advertising $2,000 0.2%
Total Income $1,315,900

Income Pie Chart

 

 

 

 


Expenses

Our expenses are broken out by functional area. Each of these functional areas (with the exception of Special Programs) contains both salaries for staff and non-labor expenses. For example, the functional area “House” includes the labor expenses for our custodial staff, but also includes non-labor expenses for heating oil, snow removal and many other items. Approximately 75% of our overall budget goes to the people who we employ to help us fulfill our mission, from the Rabbi and the Cantor, to our office staff, our educational staff, teachers, tutors, custodial staff, musical accompanists and service leaders. There is one item that you will not see here: You will find no payments to service debt because TBA has no debt. We are proud of our long-standing practice of responsibly living within our means.

Functional Area 2014-2015 Budget % of Total Expense
Ritual (includes salaries for Clergy, Clergy Coordinator, Musical Accompanists, Service Leaders and BBM Tutors) $554,569 42.1%
Religious School (includes salaries for Director of Education, Education and Program Coordinator and Teachers) $298,850 22.7%
Administration (includes salaries for Director of Temple Operations, Bookkeeper and Office Assistant) $238,131 18.1%
House (includes salaries for Facilities Supervisor and Assistant Facilities Coordinator) $194,800 14.8%
Special Programs (includes Tikkun Olam, Membership Committee, TBA Cares, Israel Committee and other programming) $15,100 1.1%
Youth Group (includes salary for Youth Group Director) $14,450 1.1%
Total Expenses $1,315,900

Expense Pie Chart

 

 

 

 


Questions or Comments?

Have any questions or would like further information about how your contributions help us fulfill our mission? Just drop me a note at president@tba-ny.org!

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