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Current Newsletter Issue

Financial Update #2 – New Dues Structure

As you know from the last newsletter, we have had budget deficits in each of the last three years and expect to have one again this year. In order to shore up Temple Sinai’s finances, as well as recognize our diverse congregational membership, below is the new dues structure for next year:

  • L’Dor v’Dor Level – $3,600 ($300/mo)
  • Mezin (Sustaining) Level – $1,800 ($150/mo)
  • Mana (Helping) Level – $1,200 ($100/mo) – for singles, single parents, and 65+ households
  • Maskil (Senior Single) Level – $900 ($75/mo) 65+ single person
  • First Year Introductory Level – $550 – for new members, first year only
  • Fees for Sinai School will remain unchanged from last year.

You will note that we now have five dues levels and have increased the sustaining dues level to $1,800 (a multiple of 18, or "chai" in Hebrew, meaning "life"). For everyone at any level, if you are willing and able to pledge more, please do so! We count on your pledges to cover 75-80% of our operating budget, although in the past we have been significantly short of this amount – hence the budget deficits.

We know, of course, that not everyone can financially afford one of the dues levels listed above and no one will be denied membership because of that. However, we do need everyone to provide some financial support to Temple Sinai. If you cannot meet the pledge level suggested based upon your circumstances, you may contact me or JaNon Barber, Temple Sinai’s Treasurer, to discuss your financial situation and agree to an amount that will not create an undue financial hardship for you.

You will be receiving your membership renewal form in the mail (and via email) in the next few weeks. Please look into your heart when selecting your dues for next year, and thank you in advance for helping us make Temple Sinai financially sound and ensuring we continue to be the largest, most active and welcoming Synagogue in Northern Nevada for years to come.

Jay Goldberg
Financial Officer (CFO)

 

Mens Club Breakfast - May 6th 9:00 a.m.

On the one hand an inverted US yield curve is said to be problematic for our economic growth. On the other hand consumer confidence continues to rise along with greater than expected revenues/profits by the digital industry. Or is all of this a result of global quantitative easing? What to expect in the coming near term economy is the focus of this presentation.

1--Sunday morning May 6th at 9:00 a.m. we will have a distinguished speaker addressing issues on global economic development and sustained growth in the United States over the near term. Please join us for a presentation by Dr. Jerry O'Driscoll. He is a senior fellow at the Cato Institute, a former senior editor of the Index of Economic Freedom prepared by Heritage & the Wall Street Journal and also served as vice president and economic advisor at the Federal Reserve Bank of Dallas. Here is an opportunity to retake Economics 101 and hopefully inspire sound investment strategies for the next two years.

As always, please RSVP HERE.

2--Nominations for Officers of the Men's Club are still open. Without fresh volunteerism, inspiration, and leadership the Men's Club could go into short-term recession. It is time to step-up.

Thank you for your participation.
Stephen Myerson, President
Temple Sinai Men's Club

P.S. President Truman is attributed to saying, "If only I could find a one handed economist to explain things."

Financial Update – Transparency

Since I joined the Board last July as a Member- At-Large, I have heard a lot of talk about a lack of transparency in the finances of the synagogue. I was asked to step into the role of Financial Officer (CFO) in late October, and I reluctantly accepted. Although I have been on the Boards of several other temples prior to joining Temple Sinai and I have a background in Internal Audit, I didn’t feel I knew the membership well enough to step into such an important role this quickly after joining the Board. On the other hand, if I said no, then who would take on this role at this important time in Sinai’s existence?

I very quickly realized that our current financial situation was not sustainable. It costs about $265,000 to run the Temple each year and there is no fat in the budget to cut. We have lost about $60,000 in the last three years and are on track to lose another $20,000 this year. The main reason for the deficit is that we don’t collect enough in dues each year to meet 75-80% of our operating expenses.

Although we shared this very important information at a congregational forum in January, there was not a large turnout. Every member of our congregation needs to know where we stand financially.

The Board will be making some changes to our dues categories for next year that we hope will better align with our membership. You will receive more information on these changes in the coming weeks.

We recognize that not everyone is in a financial position to give at their respective dues level. We have had people who stepped up financially in the past, and the Board and the congregation appreciates their generosity. However, if Temple Sinai is going to exist as the center of Reform Jewish life in Northern Nevada for years and decades to come, we need everyone to pay as much as they can in dues next year (including giving at a level above your dues category). And just as importantly, we need everyone to contribute.

Jay Goldberg
Financial Officer (CFO)

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