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Since Temple Beth El's founding in 1967, temple members and members of the community have stepped forward to help ensure the institution's future, by establishing and contributing to endowment funds. The income from money contributed to the General Endowment Fund is used to support the full range of Temple programs. Alternatively, a fund's income can be designated for a specific purpose, such as cantorial music, religious school scholarships for needy students, education or social programs, or any other purpose consistent with the purposes of the Temple. An Endowment Fund can be started with a minimum contribution of $10,000 made by one or more people for a common purpose. The amount contributed is not added to the Temple's general revenues, but is accounted for as a separate fund. The fund can be named in memory of a loved one or in honor of a special person or event such as a Bar/Bat mitzvah or wedding. The money in the fund is invested and annual distributions are made from the earnings to support the purposes of the fund.
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The annual distribution from these funds helps to underwrite the costs for the many services and programs of the Temple. In the current year's budget the general endowment funds provided $168,940 to support the Temple's operation, and $107,565 for specific or designated purposes. Without these dollars we would have to find alternative ways to raise funds or reduce the services and programs the Temple offers.
The funds are managed by two professional financial institutions. Each has a portfolio manager or management group that oversees the activities within the guidelines set by the Temple's Board of Trustees.
You may make a commitment to create a new fund (or add to an existing one) over several years. Contributions may be made by you or others, and can include cash, appreciated stocks or bonds. Once the $10,000 minimum is reached, the fund will be established.
For a list of temple endowment funds to which you may contribute, or for information on starting an endowment fund, please phone 561-391-8900, or e-mail Jan Catalfumo.
