congregation kol shofar president’s report may 2014
TRANSCRIPT
CONGREGATION KOL SHOFARPRESIDENT’S REPORT
May 2014
Mission Statement
Kol Shofar is a dynamic congregation rooted in the
enduring values of Jewish traditions, while
embracing innovations that enrich contemporary
Jewish life. We cultivate personal spiritual growth
and connection to a caring community. Together
we create meaningful, accessible experiences of
learning, prayer, service, and celebration to help
people of all ages and diverse backgrounds live
more purposeful lives and improve the world.
Kol Shofar Objectives
Retain/Build/Expand Our Community
Ensure Long-Term Financial Stability
Provide for Lay Leadership Development and Succession
Kol Shofar Objectives
Retain/Build/Expand our Community Elevate the Congregant Experience
Relational Emphasis Ambassador program Neighborhood clustering
Communications New website Use of social media
Feedback Community experience survey Ongoing program evaluation
Kol Shofar Objectives
Retain/Build/Expand our Community (con’t.) Elevate the Congregant Experience (con’t.)
Increased facility usage Modification of the CUP
Personnel Renewal for Rabbi Chai Levy Renewal for Jonathan Emanuel Enhanced review process
Greater Transparency Board member roles and accessibility Mid-year financial update Fridays at Kol Shofar
Kol Shofar Objectives
Retain/Build/Enhance our Community (con’t.) Enhance our Content and Offerings
Youth Engagement Torah project Madrikhim program and Teen Recognition ceremony Junior Kadima youth group Youth-led Friday night services
Adult Engagement Varied approach to prayer Breadth in Learning Robust Bridges to Israel program Parent study on Kol Shabbat
Kol Shofar Objectives
Retain/Build/Enhance our Community (con’t.)
Enhance our Content and Offerings
New Tikkun Olam initiatives
Exploration of alternative ritual practices
Kol Shofar Objectives
Ensure long-term financial stability:
Balanced Budget
Annual Campaign
Annual Gala
Preparation for New Capital Campaign
Evaluation of alternative affiliation models
Kol Shofar Objectives
Provide for lay leadership development and succession
Volunteer Concierges
Enhanced Board nominating process
CONGREGATION KOL SHOFARTREASURER’S REPORT
May 2014
First—A Huge “Thank You”!
To our Staff: Pam Louie—Financial Manager Nancy Drapin—Executive Director Daliah Neuberger—Bookkeeper
To our Budget Committee: Past and Future Treasurer Steve Grossman Board Member Rachel Fierberg
To our Bank Negotiating Team: Howard Zack, Norman Traeger, and Steve
Grossman
2013-2014 Financial Highlights
Net Membership Growth of 12 Families (2.5%)
Record Annual Fund Giving (Combined Campaign)
Record Gala Proceeds (Waxman Tribute)
Projected Total Revenues of $1,880,000
Projected Breakeven Results
Re-Financed Building Mortgage
2014-2015 Proposed Budget Total Revenues of $1,897,000—1%
Increase 3% Growth in Membership Revenue 12% Higher Tuition 13% Lower Fundraising Revenue
Total Expenses of $1,890,000—Flat 4% Higher Compensation Expense 9% Lower Operating Expense
Projected Small Bottom Line Surplus!
Where our Money Will Come From
Membership Support
47%
Tuition9%
Fundraising19%
Facili-ties
Rentals
14%
Cemetery Sales7%
Restricted Gifts2%
Other2%
Where Our Money Will Go
Compensation73%
Operating Expense27%
Compensation Cost Components
Clergy/Ritual32%
Education20%
Maintenance20%
Administration28%
Operating Cost Components
Utilities13% Office
Expense9%
Repair & Mainte-nance
9%
Consulting & Profes-
sional9%
Food14%
Program Costs22%
Marketing6%
Insurance9%
Other9%
Kol Shofar Budget Fun Facts!
Tuition Covers only 56% of the cost of educating our children
84% of Gala Revenue goes to support CKS
Total Operating Costs/Family--$4,090
Revenue Required/Family--$3,160
Our Two-Part Mortgage
First Republic Bank
$3.5 million Five-Year Note Total balance due September, 2018 Floating rate (currently 4%)
$3.5 million Amortizing Loan Payments based on 30 year repayment
schedule Fixed rate for ten years—4.5% Balloon payment due September 2028
The Capital Plan
New Debt Retirement Capital Campaign begins 2014/2015
Goal—to at least retire debt coming due in 2018
Re-finance Remaining Balance into New 30-year Mortgage, serviceable from operating revenues
Yasher Ko’ach to our Capital Campaign Committee!
Co-Chairs: Michael and Karen Young Howard and Diane Zack
Additional Members: Norman Traeger Dan Weisman Devorah Stadtner
Questions?
Motion from the Board
Approval of the Proposed
2014/2015 Budget
Diane Zack
Decades of Dedicated Service to Kol Shofar
1995 Joined Kol Shofar Board 1997-2000VP Financial Resources 2002-2005VP Administration/Operations 2005-2007President 2007-2010Immediate Past President 2010-2014VP Capital Development
Diane Zack
Additional Leadership Roles
Co-Chair Building Capital Campaign (Over $17 million in pledges)
Catalyzed the Southern Marin JCC Preschool Established the New Torah Fund Chaired Alternative Revenue projects Chaired numerous Galas and Donor
Appreciation events