Chidush Questions & Answers

 



Frequently Asked Questions:

 

What will the Chidush Campaign fund?

Chidush supports the vision of the Temple’s strategic plan; two years in the making. Chidush will create an intimate sanctuary with a new spiritual entryway, a larger multi-functional social hall, more engaging and interactive lobby area, a new welcoming reception area and new security and audio/visual systems. It will also include the expansion of the Chapel, upgrades to the Education wing and expanded staff offices.

Why do we need the Chidush Campaign?

The current building was designed 15 years ago, for 500 families. Currently, we have over 520 member units and growing. The renovation is designed based on the forward-thinking vision of the Temple clergy, staff and board members to provide a welcoming, engaging and spiritually-intimate space that is multi-functional for Jewish ritual, special events, adult education classes and children’s programs while being safe, secure and comfortable.

What is the timetable for the Capital Campaign and Renovation Plan?

The Capital Campaign will open on November 10, 2015. The renovation will begin in 2016 and is being planned in such a way that there will be little to no impact on regular Temple programming and services.

What is the campaign goal?

The campaign goal is $2,500,000. As of September 2015, we have raised $1,050,000. We hope 100% of our congregants will contribute to the campaign. We kindly ask that your Chidush capital campaign donation be made in addition to your ongoing Temple financial support, which is critical to the daily operations of Temple Beth Am.

What is the length of the campaign? How long will I have to pay my pledge?

The campaign will run from November 2015 to March 2016. Pledges are payable over five years (however if you wish to pay it off sooner, that is preferable).

What are congregants giving?

So far, the gifts and pledges we have received cover a wide range from $1,800 to $500,000. Since pledges may be paid over five years, many donors are able to increase the total they pledge.

Campaign pledges will be paid over a 5-year timeline; how are we paying for the renovations before the pledge payments are complete?

The Board of Directors has approved a construction loan. First Citizens will loan us the money against the pledges. Therefore, it is important that every donor complete a commitment form.

How much should I give to the Chidush Campaign?

In determining the donation that is right for you, please consider the significance our Temple has had for you and your family over the years, as well as for our Jewish community. We ask you to give generously as we look to the future, and hope you share our excitement to continue to celebrate so many important events together here, in a beautiful, more warm and welcoming environment. When you think about the long-term impact of your gift, please consider making the Chidush Campaign one of your top philanthropic priorities over the next five years. Because we are asking congregants to make a pledge that is payable over a number of years, we truly hope that everyone will be able to make a generous commitment to the campaign. Please consider that pledges to the Chidush campaign are above your annual voluntary financial commitment which contributes to the Temple’s annual operating budget.

How may I pay my pledge?

Pledge payments are designed to be flexible and responsive to our donors’ needs. Pledges are payable over five years. You may pay monthly, quarterly or annually – whatever works for you. Gifts may be made in cash, credit cards or stock. Please contact Melanie Goldsobel in the Temple office to make arrangements. Please let us know how you would like to pay off your gift on your commitment form. We would deeply appreciate receiving your first pledge amount with your signed commitment form. You will receive an official thank you from the synagogue when we have received your pledge.

Are gifts to the Chidush campaign tax deductible?

Gifts to the Chidush campaign are fully tax deductible to the extent allowed by law. Please consult with your tax advisor.

How will donors be recognized?

All donors will be recognized for their contribution to the Chidush campaign on a dedicated Donor Wall. We hope that you will be proud to be a part of the Chidush campaign as we move forward and continue to build a greater feeling of community here at Temple Beth Am. Every contribution helps and is greatly appreciated.

What can I do to maximize my pledge?

There are 2 ways to make your pledge more effective:

1.    Congress recently passed the IRA Charitable Rollover into permanent law. If you are 701/2 or older, you can transfer up to $100,000 directly from your pre-tax IRA assets each year to support Temple Beth Am.

Donors have to be 70½ years old or older to qualify. Donors can transfer up to $100,000 annually from each of their IRA accounts directly to a charity without first having to recognize the distribution as taxable income. If married filing jointly each spouse can donate up to $100,000 from their own IRA account. Donors are not permitted to make a charitable rollover to Donor Advised Funds, Supporting Organizations or Private Foundations.

Take advantage of the new IRA Charitable Rollover and you can use your IRA annual Required Minimum Distribution (RMD) and and avoid paying taxes on those funds as being considered ordinary income:

·        Create your lasting legacy by contributing RMD funds to the Chidush capital campaign or;

·        Use RMD funds to contribute to your:

o   Voluntary Financial Commitment (VFC)

o   High Holy Days Pledge

§  RMD funds cannot be used for Preschool, Religious School, B’nei Mitzvah fees or other fee for service charges.        

 

Contact your financial advisor. 

Then call Melanie Goldsobel at 561-747-1109

2.    Some companies offer a partial or full match of an employees’ contribution to charitable capital campaigns like TBA’s Chidush – does your company?  If the answer is YES, please submit the request to the applicable company personnel and increase your support to Chidush.