We will periodically provide Endowment Campaign Updates. They are designed to provide information for you, an important member of our congregation, regarding the campaign and its leadership. Our goal is to keep you up-to-date about the progress of the campaign and to involve you in this effort, enabling you to make a positive contribution to Temple Israel that will be recognized by those who succeed us. If you have questions, comments or prefer to receive this electronically please send them to endowment@tisharon.org.

September 1, 2015

As we welcome Rabbi Fish and his family and look ahead to the New Year and a new era in the life of our community, we want to provide you with an update about the Temple Israel Endowment Fund and our ongoing campaign.

Thanks to the tremendous foresight and generosity of many of our congregants, the campaign that began in 2011 yielded pledges of almost $3.2 million in cash, equities, and bequests. Some of the donations came in at once, some have been spread out over a period of years, and others are provided for in estate plans. To date, we are on target with our collections, having collected more than $1.6 million. The Endowment funds are invested in professionally managed accounts that are already generating annual support for the synagogue budget. Under the policies established by the Temple’s Board of Trustees, the principal amount of the Endowment Fund is well protected to ensure that it remains in place for generations to come. Withdrawals from the Endowment Fund each year are limited to up to a percentage of the Fund, with the expectation that such withdrawals will only be from a portion of the annual returns. In addition to our outside professional managers, a committee of appointed congregants, who are experienced professionals from various fields, oversees the Endowment Fund. All of this ensures that the Endowment Fund, and any withdrawals from it, are carefully budgeted and monitored by the Board of Trustees.

When we first announced the Endowment Campaign, we said:

An Endowment such as this will allow the leadership of the congregation to do what it must to meet both expected and unforeseeable challenges in the coming years — tend to OUR FUTURE secure in the knowledge that the means to foster that future are available. Temple Israel is a special place; your support of Endowment Fund will ensure that it continues to be that place for generations to come.

Four years later, the Endowment Fund is doing exactly what we had all hoped it would do. At Temple Israel, our primary source of revenue comes from our nationally recognized Commitment System. The annual income from the Endowment, while modest in 2015, and periodic fundraisers help provide important additional sources of funding. The annual income from the Endowment will provide a predictable and reliable stream of revenue going forward to help ensure our financial stability. Our goal is for the Endowment to continue to grow with additional contributions from our members. However, our congregation must also continue to think creatively about additional ways to generate revenue to meet our evolving needs.

When you enter the Lang Galleria for the High Holydays, you will see a new display that recognizes and acknowledges the many congregants who made donations to the Endowment Fund (determined as of the beginning of the summer). This display was specifically designed in recognition of the on-going nature of the Endowment Campaign, and allows us to add names of congregants that make additional pledges to the campaign or decide to increase their existing pledges. It is remarkable how our congregation responded to this campaign during the difficult economic times that existed when this campaign began. As we embark on this new and exciting chapter for our congregation, we hope that many more of our members will now also take this opportunity to join in the Endowment to ensure that Temple Israel will be a beacon in the community for generations to come.

To find out how you can make a pledge to the Campaign (or increase your pledge), or to ask questions, please contact Rob Carver or Rich Goldman at endowment@tisharon.org.

Shana tova,
Rob Carver and Rich Goldman