Howard Bloom Director of Development and Finance hbloom11@yahoo.com	sdasd
Howard Bloom joined B'nai Israel as Director of Development and Finance in the Fall of 2005. His role is to complete the Vision Campaign, establish an organized endowment for the congregation and direct programming that expands the revenue base of our synagogue. His initial emphasis is on improving the economic functions of the Temple. He came to us originally in the summer of 2004 as the director of our Vision Campaign, representing fundraising consultant Joel Friedman and Associates, where had spent the previous six years. Prior to that he held top executive positions and worked on annual, capital and endowment campaigns in Edmonton, Alberta, Omaha, NE and New Haven, CT. As a fundraising professional, he has also been involved with educational, social welfare and religious institutions.		Learn more about the Vision Campaign Dor L’Dor Endowment Campaign List of Funds Friends of B’nai Israel Donate NOW!

Chanukah Rededication and Gratitude at B’nai Israel

According to tradition as recorded in the Talmud, at the time of the rededication of the second Temple, there was very little oil left that had not been defiled by the Greeks. Oil was needed for the menorah in the Temple which was supposed to burn throughout the night, every night. There was only enough oil to burn for one day, yet miraculously it burned for eight days. An eight day festival was declared to commemorate this miracle. Note that the holiday commemorates the miracle of the oil, not the military victory.

It is appropriate that we at B’nai Israel have chosen Chanukah this year as the date for the formal rededication of our Temple. While we have been at work on this project to renew and to expand our Temple for more than five years, it is a great blessing to be putting the final touches on our work. For those of us who have thought that we would never arrive at this time we knew differently.  The renewal of B’nai Israel that we are hoping for is a spiritual renewal. Just as at Chanukah we celebrate the miracle of the oil and less the military victory over the Seleucid Greeks, so we also celebrate here the renewal of our Temple, its services and programs within the context of an inspiring new facility. The facility is the necessary base which, we hope, will encourage us to do even more and better in terms of what takes place within its hallowed halls. The entire Vision campaign has been a celebration of the dedication of our congregation to the securing of our Jewish future within the greater Bridgeport area.

Reminder, as our calendar year comes to an end, paying your dues or Vision pledges before December 31 will enable us to provide you with a tax deductible receipt for the current tax year. Please join us on December 7th for our formal rededication of B’nai Israel so we can truly express our gratitude to our entire membership and to the “almighty” for “sustaining us in life and bringing us to this season of joy.”

Howard Bloom
Director of Finance and Development

Vision Campaign: the Push to Finish while keeping Costs to a Minimum

From a purely financial point of view we are approximately 80% completed in terms of “hard” construction costs. Those of our members who were here for the High Holy Days will have had a first hand look at just how far we have come since our symbolic ground breaking last November. The school wing is almost completely done as is both the new roof for the addition and the replacement roof for our original structure. This has been an expensive and complicated procedure.

We will very shortly be entering the final stage of construction involving painting, light fixtures, carpeting and clean up. Thankfully, we are on schedule and on budget. Once the infrastructure systems are in and operating, the more cosmetic finishes will literally “fly up.”

At this point in the construction process we are drawing on the Fairfield County Bank’s funds to complete the project. The Vision Campaign pledges have for the most part been spread out over 5 years with some donors seeking to stretch commitments over a slightly longer time frame. 

Therefore, it is very important that we sustain our Vision Campaign cash flow. Each dollar ‘in’ now will reduce or even pay down the amount of money we will be required to borrow. Please pay any outstanding pledges immediately. If it is possible, please consider prepaying  future payments. The smaller the balance of outstanding pledges due at the end of the year,  the smaller the amount we will need from the bank and the lower the cost will be for all of us.

Howard Bloom
Director of Finance and Development

For Rosh Hashanah This Year: Create a B'nai Israel Legacy

• By choosing to leave a charitable bequest in your will or other estate plans, you can create a permanent legacy to Congregation B'nai Israel. There is no limit to the amount you can set aside from your estate and it can be as large or small as you desire. Your gift can be funded with cash, securities or other property. Your estate will receive a tax deduction in the amount of the charitable bequest. Since bequests are revocable, while you are alive your assets are entirely available for your use. In addition,you can incorporate new ideas or adjust to changes in your circumstances at any time.
• During your lifetime as well as through your estate plan, you can make a gift to the endowment fund of Congregation B'nai Israel. You can also designate the gift from assets such as paid up insurance policies or an IRA.
• There is no limit to how much you are able to give - during your lifetime or by bequest - to the Temple. It is wise, however, to synchronize your estate plan and your charitable bequest. For example, an IRA incurs a steeper tax in your estate than other property. Therefore, for many estate plans, funding your bequest to B'nai Israel through your IRA and passing other, non-IRA property to your heirs will maximize your estate's charitable deduction as well as the amount that can be left to your heirs.
  

For more information contact Howard Bloom, Director of Development and Finance at 336-1858 ext. 131.

Put Charitable Gifts and Payments
to your Temple on Autopilot

According to a recent article in the Wall Street Journal, “the Giving USA Foundation estimates that in 2005, the average household gave 2.2% of its after tax income to charity.” Many organizations offer the option of using credit cards as an easy way to make charitable contributions. This year, B’nai Israel has begun to more seriously offer our membership the option to use credit cards to pay for services and to make contributions. We currently accept Visa and MasterCard.

The Wall Street Journal article also noted that more and more donors throughout the country are treating giving like any other monthly bill that one might pay automatically by means of credit card or direct debit from one’s bank account. A number of our congregants have begun to use this approach to pay their synagogue dues as well as both religious school and nursery school tuitions.

We can set up annual contributions so credit card payments can be automatically made on a monthly or quarterly basis. We have promoted this option this year for the first time and so far have 35 families that have chosen to pay their annual contributions using this method. Our goal is to double this number for the upcoming fiscal year. Over the summer we will be working on enabling our members to make credit card payments or bank account debits directly through our web site.

This is one of those innovations that will take very little getting used to. It provides a benefit for the Temple in that it tends to even out cash flow. Moreover, it provides convenience and control as well as potential points or benefits to the congregant.

If you are interested in setting up a credit card payment plan, please contact Howard Bloom at extension 131 or our bookkeeper Lindsay Alston at extension 129 to set it up.

New Law Allows Charitable Gifts Directly from an IRA for 2007
It is not clear whether the law will be extended for 2008 so …..

For Individuals over 70 1/2 years of age:
You can have the administrator of your IRA transfer up to $100,000 to B’nai Israel and any other charities that you support. This transfer qualifies toward your yearly mandatory withdrawal. Since these funds will not be included in your income for federal income tax purposes, you cannot claim a deduction for the gift. This is especially attractive for non-itemizers and others who have limits on their deductions.

For Individuals between 59 1/2 and 70 1/2 years of age:
You can still withdraw funds from your IRA and donate them to the Temple. The withdrawal will typically be reported as income and then the charitable gift may be claimed as an offsetting deduction.

For Anyone with an IRA:
Individuals who aren’t comfortable making a current gift from an IRA to the Temple can still name the Temple as an ultimate beneficiary of their IRA. This way the synagogue would receive a designated part of any remaining funds in the account after the account holder passes away.
Bequests are the key component of a healthy non profit. They can provide additional dollars that can reduce the reliance on dues alone to maintain fiscal solvency. Remember no bequest is too small. Consult your tax planner if you think that you would like to use this IRA option to will funds to Congregation B’nai Israel.

For more information, please call Howard Bloom at 203-336-1858 ext 131

New Tax Breaks for Seniors!!

Did you know that the new Pension Protection Act lets you make an annual charitable gift to B’nai Israel from your IRA if you have attained the age of 70 ½ years?  These charitable gifts are entirely tax free while satisfying all or part of your required minimum annual distribution. Unless extended, this tax break is only in effect for calendar year 2007. 

You can use your IRA to make an annual gift to B’nai Israel including dues, Vision commitments or any other donation that would qualify for a charitable deduction. You may use this provision of the Act to establish an endowment gift here at the Temple and it can be funded over several years. This is a great opportunity to lower your tax burden and to help secure the future of your synagogue.

Here are some key points to keep in mind:

• You must be 70-1/2 years of age or older.
• You can make a charitable gift up to $100,000  from your IRA in calendar year 2007.
• You must instruct your IRA administrator to make the distribution directly to the charity.

To learn more, speak to your tax advisor or call Howard Bloom at 203-336-1858 ext. 131

Howard Bloom
Director of Finance and Development

A Percentage of Your Will Endows Our Future.

Endowment giving is the key to protecting a Jewish future. Most people are concerned about having enough to live on as they age. Endowment giving through a bequest is one method of securing a Jewish future for the members of our Temple as well as maintaining cash flow while we are alive.

This is a very straight forward concept. It is based on the premise that it is both a communal and religious obligation to ensure that every Jew has a place to worship and to educate his or her children. Even if we are not the direct beneficiaries of these services at a particular time in our lives, we are enjoined to contribute anyway. All of us are encouraged to provide opportunities to obtain an intensive and appropriate Jewish education, regardless of financial resources.

We are asking every member of the Temple to consider establishing a bequest to the Temple’s unrestricted endowment.  It is these unrestricted endowments whose income can be directed to sustaining key programs in many of the program specialties listed below:

Financial Aid:
                Religious School Scholarships
                Nursery School Scholarships
                Day Camp Scholarships for our nursery school

Program areas:
                Family Education programs
                Shabbat Children’s programs
                Adult Education programs
                Family Israel Trip subsidies
                Social Action Initiatives

A bequest to the unrestricted endowment will permit funds to be invested such that income can be directed to help in any of these and other specific program areas. If, however, you would like to set up a named program specific endowment in any of the above areas, there is a required gift threshold that must be met. For further information on endowment giving please don’t hesitate to call me at 203-336-1858 ext. 131 or contact me by email at hbloom11@yahoo.com.

Howard Bloom,
Director of Finance and Development