CONGREGATION KOL SHOFAR Treasurer’s Report June 2015

First – A Huge “Thank You”! To our Staff: Jenni Sutton – Director of Finance Nancy Drapin – Executive Director To our Budget Committee: Past Treasurer – Steven Tulsky Board Member – Rachel Fierberg Future Treasurer – Claudia Frankel

2014 – 2015 Financial Highlights Net Membership Growth of 17 Families (3.5%) Annual Fund Giving (Exceeding Budget) Projected Total Revenues of $1,892,000 Projected Loss of $16K ($12K is from prior year) Forecast Revenue Net Dues$881,116 Net Tuition$176,446 Net Fundraising$380,009 Rental Income$272,389 Other Income$182,700 Total Revenue $1,907,660 Expenses Compensation $1,423,676 Operating Expenses $500,974 Total Expenses $1,924,650 Net Loss -$16,990

2015 – 2016 Proposed Budget Revenue Net Dues$930,632 Net Tuition$201,561 Net Fundraising$392,000 Rental Income$294,889 Other Income$108,304 Total Revenue $1,927,386 Expenses Compensation $1,346,966 Operating Expenses $495,083 Total Expenses $1,842,049 Net Income $85,377 Total Revenues of $1,927,000 – 1% Increase 5% Growth in Membership Revenue 14% Higher Tuition 14% Lower Fundraising Revenue (Primarily No Cemetery Plot Sale) Total Expenses of $1,842,000 – 4% Decrease 5% Lower Compensation Expense 1% Lower Operating Expense Projected $86K Bottom Line Surplus! Surplus To Be Used For: Capital Expenditures During Fiscal Year Pay Part of Interest on Mortgage

Kol Shofar Budget Fun Facts! Tuition Covers only 64% of the cost of educating our children 84% of Gala Revenue goes to support CKS Total Operating Costs/Family --$3,500 Revenue Required/Family -- $2,900

Where Our Money Will Come From

Where Our Money Will GO Compensation Cost Components

Operating Cost Components

Questions? Motion from the Board Approval of the Proposed 2015 – 2016 Budget