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Congregants usually think the money they contribute annually and pay in school fees and dues covers all of our expenses. But this is not so. Our dues and school fees represent approximately 60% of our annual budget. The costs of educating children, helping those in need, attracting talented staff, and yes, even paying the utility bills, will take more money tomorrow than it does today. An endowment gift continues into posterity and enables our children’s children to learn the meaning of a positive Jewish life, full of pride in our sacred traditions. Best of all, now each of us can participate in this living legacy. A New Look at Fiscal Responsibility: Creation of the Rabbi David Lieb Endowment Fund. Approximately 3 ˝ years ago, the cash flow for TBE was almost depleted. At that time we had borrowed from the restricted funds to pay for expenses, and we were looking at a loss again for the year. More disconcerting, this was a cycle repeated every few years. And we needed to develop a different way of looking at fiscal responsibility. What was conceived was the creation of an endowment account, concurrent with acquiring a line of credit to handle cash flow. In Phase I of the endowment, we informed donors that of every three dollars contributed, one dollar would go to pay off the line of credit and replenish the restricted funds. The other two dollars would go to the endowment account. We are now in Phase II of the endowment. The line of credit has been paid off in full; the restricted funds have all been brought current. There is $523,000 in the DSL Endowment Fund plus two insurance pledges of approximately $400,000 which will be received in the third or fourth quarter of 2010. Once fully funded, the interest the endowment earns will contribute substantially to help pay for today’s costs. Not all can give in all ways, but there may be a right way for you. The goal of Phase II is to have $2,000,000 in the endowment account by the end of 2010. By consulting with your financial advisor and estate attorney, a plan can be designed that is most advantageous to you while creating significant benefits for our temple. If you do not inquire about leaving a Jewish legacy, the potential gift could be lost to taxes. Some ways to participate are as follows: Cash contribution: Estate Plans: Creation of the Dor L’Dor Society. The Dor L’ Dor Society honors friends who have made valuable contributions to Temple Beth El’s Rabbi David Lieb Endowment Fund of $1,000 or more, by an outright endowment gift or through their estate plans. With your (future) gift, you will become part of a group of donors who, like you, are creating a secure tomorrow for our community. Since establishing the Rabbi David Lieb Endowment Fund, a growing number of TBE members have told us they have made a provision in their estate plan to leave a gift to our congregation. They are part of more than 18 families who have said, “Count us in!” Please add your name to this growing group and plant the seedlings of financial stability for our children and grandchildren. I welcome the opportunity to continue this discussion with you one-on-one. Please contact me while your questions are fresh. I very much look forward to hearing from you. Please call GEORGE MAYER at 310-548-4113. “Yes, I too want to CREATE A SECURE FUTURE for TBE!” |
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  Temple Beth El, 1435 West Seventh St, San Pedro, CA 90732 | Tel: 310-833-2467 Fax: 310-833-6504 Email: tbeoffice@bethelsp.org | site map | home
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