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.