5101 US-42 • LOUISVILLE, KY 40241 • (502) 423-1818

Strength in Membership

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The Fiscal year for the Temple is from July 1st through June 30th. Since the beginning of the new 2022/2023 fiscal year through the end of December, the news about our financial position has been positive.

Following are projects we have been able to implement thanks to contributions from members over and above dues received from July 1, 2022 through the end of December 2022:

  • Update security systems in the front of the building and at ECEC
  • The addition of campus-wide security cameras
  • Replace lightning rods
  • Replacement locks both inside and outside
  • Remodel and interior design updates for ECEC

As of the end of November 2022, we reported 260 donations totaling $94,228.19. Therefore, we received a total of $67,501.49 from 85 donations in December 2022.

The increase in donations reflected in our report is due to the generosity of a significant portion of our membership. Because of the due diligence and stewardship practiced by the Board of Trustees, our members recognize the importance of additional financial support above and beyond their regular dues. Designating some of the monies directly to the endowment for future use and the prudent allocation of funds for enhancements to address immediate needs on behalf of our members makes us proud of the faith and commitment of our congregation.

The ability to report this positive news is primarily the result of our leadership’s proactive steps to employ a new, modern software system, Congregation Connect. The enhanced software provides real-time data and robust reporting capabilities. The results are superior planning and projections with a complete picture of members and financials in one place– including activity history, giving history, programs, and events attended. It also makes the flow of information to and from the congregation smooth and transparent.

Below are some additional benefits of membership generosity resulting in the growth of our overall financial stability:

  • A significant number of congregants are paying dues on time, not in arrears. The generosity of members has allowed The Temple to collect approximately 80% of annual dues in the first six months of the fiscal year resulting in positive cash flow without borrowing. The continued support of the congregation confirms the value The Temple is providing to members.
  • A bonus to positive cash flow and surplus income is saving money over and above The Temple’s budget while also earning interest.

Strength in Infrastructure

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Over the last several years, an active, knowledgeable, responsible Board has carefully safeguarded our finances, our operations, and decisions about capital improvements. Another prudent fiscal tactic has been making capital improvements yearly through the endowment to continue operating within a balanced budget.

Following are the repairs, renovations, and upgrades to our property that have not only been necessary but also ensure the longevity of our structures and the beautification of the grounds.

CAPITAL IMPROVEMENT AND REPAIRS INCLUDE:

  • New air conditioning and heating units
  • New roof
  • New state-of-the-art-kitchen

NEEDED INFRASTRUCTURE:

  • Two new Zoom rooms for online programs
  • New sound system in the Main Sanctuary
  • 200+ New chairs replacing High Holy Day chairs in the Heideman Auditorium
  • LED lights throughout the entire campus
  • Updated landscaping across the campus
  • Columbarium updates at the cemetery

“To the credit of our staff and Board management over the recent past, we have been able to manage large expenses and remain financially stable. The team has maintained our balanced budget and improved our financial standing. Deferred improvements in our 40-year-old building have now been completed by planning and spending responsibly.”
~ Board Treasurer Mickey Heideman

IMPROVEMENTS WERE FUNDED IN ONE OF THREE WAYS:

  1. Board approved enhancements
  2. Investment committee endowment allocations
  3. Annual budget expenditures

FUTURE IMPROVEMENTS APPROVED AND BUDGETED BY THE BOARD:

  • Build offices for two new administrative staff
  • Update security systems in the front of the building and at ECEC
  • The addition of campus-wide security cameras
  • Replace lightning rods
  • Replacement locks both inside and outside
  • Remodel and interior design updates for ECEC

The added value of the dependable fiscal responsibility and operational efficiencies of The Temple motivates many members to donate more than is expected because they believe in the profound impact our Temple has on the congregation. The legacy of our Temple’s strength, guardianship, responsibility, and sustainability is dependent on all of us.

Strength in Numbers

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Follow this article series, “Strength In …,” to learn more about how our Temple’s stewardship has resulted in the stabilization and growth of our financial position.

Our Fiscal year ends on June 30, with a new year beginning on July 1. For 120 days since the 2022-2023 fiscal year began, there is positive news to report about our financial position. Following is a snapshot of the growth and improvements:

  • Our year-to-date comparison to FY22 vs FY23 shows an annual revenue increase of 10%
  • We have also improved dues collections
  • Endowment funds total approximately $6.5 million
  • Notably, 159 members have made contributions to The Temple above their dues even though there is currently no giving campaign
  • Our administration and operations teams diligently evaluate contracts and processes for efficiencies to ensure they contain expenses. As a result, our costs are on budget despite the current period of inflation.

Mickey Heideman stresses that our financial picture has improved: “Our members understand the importance of their dues to the bottom line. Some also make extra contributions. And, we also have the staff and committee chairs to thank for controlling expenses.”

If you would like to help us continue the current trajectory of financial growth and stability, please consider a Qualified Charitable IRA Rollover Distribution for The Temple in discussions with your accountant or tax advisor. Your trusted advisors can ensure that a charitable contribution is appropriate for you. At this time of year, many members are considering taking minimum distributions. Here are considerations if you are thinking of making a charitable contribution to The Temple:

  • Take advantage of the last great tax break with your Charitable IRA Rollover. Support The Temple simply and easily. If you are 70 1/2 or older, you can roll over up to $100,000 from your IRA to The Temple.
  • To qualify, the transfer must go directly from your IRA to The Temple
  • Gifts made from your IRA (up to $100,000 per year) are not reportable as taxable income
  • The gift must be an outright commitment yet can be used to satisfy existing pledges
  • The gift will qualify toward your required minimum distribution

The dependable fiscal responsibility and operations of The Temple motivate many members to donate more than is expected because they believe in the profound impact our Temple has on the congregation. Our Temple’s strength, guardianship, responsibility, and sustainability is dependent on all of us.

Five strengths that have been implemented through our Temple’s stewardship that resulted in the stabilization and growth of our financial position:

  1. Our financial stability is safeguarded by an active, knowledgeable, responsible Board
  2. Operations are continually improving through a dedication to reducing unnecessary spending, streamlining processes, and negotiating contracts
  3. Continued annual contributions to various endowment funds ensure the sustainability of The Temple
  4. The support of the congregation, even during the pandemic, continues to show the value The Temple is providing to members
  5. Capital improvements are made every year through the endowments and do not impact the balanced budget. Some of these include:
  • New festival windows at entrance
  • Restroom upgrades with painting, lighting, etc., especially the women’s entry foyer
  • Library updated, painted, and new lighting installed
  • New lobby look with painting, lighting, and furniture
  • New and updated landscaping around the campus, as well as the cemetery
  • Renovation of the columbarium at the cemetery
  • New LED lighting all around the Temple
  • Staff hallway with new flooring
  • New air conditioning unit for entire campus
  • New chairs for services
  • Enhanced engagement with members through mailings during Passover, HHD, and Hanukkah
  • Installed water bottle filling stations around The Temple
  • Purchased two Zoom rooms in order teach classes virtually
  • New sound system in the Sanctuary

Strength in Stability

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My wife, Robin, and I have been Temple members for 40 years.  We raised our now adult sons here, attending  Trager ECEC, Religious and Hebrew School, celebrated their Bar Mitzvahs and Confirmations, and attended High Holy Day services — all traditional ways most members participate at The Temple. We utilized the services offered by The Temple, but we weren’t active in giving back.  We supported The Temple financially with our dues, but after other expenses from raising two children in the Jewish community, we only contributed to other fundraising efforts on occasion, and we didn’t have extra time to be active volunteers.

Four years ago, as my 60th Birthday approached, I decided to become a Bar Mitzvah.  After all, 60 is the new 13!  I studied with Rabbi Rapport, meeting weekly at his office at The Temple.  Walking through the building each week, my eyes were really opened to behind-the-scenes work among clergy, staff, and volunteers and the synergy of these relationships.  I became more aware of all The Temple had to offer, and my interest in becoming involved was piqued.  I had something to offer back to the place that was providing me the opportunity to explore my Judaism more deeply than ever before.

I reached out to then President, Reed Weinberg, and we began to look at how I could best serve The Temple. I am honored to now serve on the Board and Budget and Finance Committee.  Looking back, I remember the first time I looked over a monthly financial statement and my initial reaction was “Wow — The Temple is on very sound financial footing.” To be honest, I wasn’t always sure this was the case.  I also found the other volunteers at the table to be group of active, knowledgeable, and dedicated leaders who were breathing new energy and ideas into The Temple. I discovered so many strengths of The Temple. For starters, the fiscal guardianship of The Endowment and balanced budgets show operating surpluses. Both enable the Temple to reinvest in our infrastructure and operations and continually improve. I also learned that as we navigated Covid and transitioned to our new normal, annual contributions to ensure our sustainability and support of our congregants increased. These financial accomplishments and other strengths will be highlighted in future issues of the Bulletin.  I hope you will find, as I have, there is so much to take pride in at our Temple.

The top five revelations Bruce discovered by becoming more involved:

  1. Our financial stability is safeguarded by an active, knowledgeable, responsible Board
  2. Operations are continually improving through a dedication to reducing unnecessary spending, streamlining processes, and negotiating contracts
  3. Continued annual contributions to various endowment funds ensure the sustainability of The Temple
  4. The support of the congregation, even during the pandemic, continues to show the value The Temple is providing to members
  5. Capital improvements are made every year through the endowments and do not impact the balanced budget. Some of these include:
  • New festival windows at entrance
  • Restroom upgrades with painting, lighting, etc., especially the women’s entry foyer
  • Library updated, painted, and new lighting installed
  • New lobby look with painting, lighting, and furniture
  • New and updated landscaping around the campus, as well as the cemetery
  • Renovation of the columbarium at the cemetery
  • New LED lighting all around the Temple
  • Staff hallway with new flooring
  • New air conditioning unit for entire campus
  • New chairs for services
  • Enhanced engagement with members through mailings during Passover, HHD, and Hanukkah
  • Installed water bottle filling stations around The Temple
  • Purchased two Zoom rooms in order teach classes virtually
  • New sound system in the Sanctuary