Happy Tu B'Shevat! As we enter this new year, I hope you and your loved ones are well. I wanted to take a brief opportunity to share some updates on our campaign to build for our next 90 years as a congregation.
I hope you will take the time to read through this message carefully, as it contains important information.
1) New Renovation Dates and Timelines
The renovation committee has reviewed the survey responses (89 online responses plus numerous emails/letters/phone calls) and is working with our architect to incorporate that feedback – in particular: maintaining the Okun chapel in its current location; reworking the sanctuary plan to better balance preserving its historic look and feel while meeting our goals of enhanced accessibility, inclusion, and flexibility; and working to solve for a safe and effective rear entrance.
The process of incorporating the congregation’s feedback into our designs has also helped us update our timeline for the project.
January / February:
- Renovation committee revises concept plans based on feedback
- Site committee reviews further monetization potential of our real estate holdings
- Fundraising Committee launches “Building for our Next 90” campaign
Friday-Saturday, February 19-20: Donor Appreciation Shabbat – Honoring those who donate their time, talent, treasure to Temple Beth-El
Sunday, February 21 at 4pm: Presentation of revised conceptual plans & Campaign Kick-Off presentation
February / March:
- Incorporate congregation feedback via second survey
- Committees (e.g. ritual, membership, etc) review updated plans and provide feedback
March / April:
- Incorporate feedback and create detailed plans
- Finalize project scope, schedule and financing
Sunday, May 16: Annual Meeting to include detailed review of renovation plan and congregational vote
Rosh Hashanah: Renovated sanctuary available for in-person worship
2) Financial News
As many of you know, in recent years Temple Beth-El routinely operated with an annual deficit. Often the Temple was kept afloat via “one time” fixes such as loans from Sisterhood, donations from members, bank loans, etc. As a congregation, we owe our thanks and gratitude to Temple leadership for managing through these lean years and finding ways to keep the shul operating.
The 2020 Parham land sale was transformative. Following the land sale, all outstanding debts were paid off, and the Temple was given not only a 100% clean balance sheet, but also a small cash reserve.
The end result? The land sale, along with other recent endowment contributions and an improved investment strategy, means that our endowment more than tripled from $1.5MM a couple years ago to $5MM now. At a very sustainable 4% distribution rate, this enables our endowment’s support contribution to annual operations to increase by $150k, covering the historical deficit.
