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February 8, 2012 | 15th Sh'vat 5772
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Finance
Finance

Just like a carpenter needs a tool belt with a hammer, nails and a level, and a doctor needs a stethoscope and tongue depressor, a synagogue needs tools to help it with its financial goals of being financially healthy so that it can prosper and meet the needs of its congregation.  Start with the Financial Toolkit: The Ten Financial Commandments and then download the "tools" below to learn how to financially maintain and strengthen your synagogue.

Annual Commitments
Budgets
  • Food for the Spirit: Synagogue Budgets
    A guide for congregations of all sizes with varied administrative and fiscal resources. It is meant to stimulate thought and planning and help your congregation write its own concrete, unique prescription for fiscal and spiritual health.
Fundraising
  • Fundraising Opportunities Online: Affilate Marketing
    Every synagogue leader is always looking for additional ways to increase revenue. One way to do this is through affiliate marketing, a process in which a congregation signs up with an online vendor and adds a link on the congregation website for that vendor.
  • IRA Charitable Rollover
    Tax Law revisions provide incentive for charitable giving to your synagogue through the "IRA Charitable Rollover"
  • Sample High Holy Days Appeal Letter
    Here's an example of an effective and well-written letter you can adapt for your use.
  • Sample End-of-Year Appeal Letter
    Send a letter to your membership (personalized letters are best) asking for end of year tax deductible contributions. Here is a sample letter that we like, along with a response form. If you have a direct mail letter that you want to share, please send it to us so it can be posted.
Connect with a Specialist

Member congregations are encouraged to contact a specialist from the Union's Congregational Consulting Group for additional resources and support:

 Rob Berkowitz

Rob Berkovitz
Finance Specialist

Time Zone: EST
212.650.4061
rberkovitz@urj.org

 David Katowitz

David Katowitz
Finance Specialist

Time Zone: EST
212.650.4141
dkatowitz@urj.org

Dealing with the Economic Crisis
The URJ is aware that the current economic situation is having an impact on congregations and has gathered these materials to help as you adjust to the current economic realities. More
Financial Resource Development
Taxes and Other Legal Issues
  • Take Advantage of a special Tax provision: Donate to your Temple through your IRA
    Through 2011, Congress has extended a special provision to help those 70-1/2 and older dependent on social security and other forms of retirement income to encourage charitable giving. Persons with traditional or Roth IRAs may make tax-free gifts directly to qualified charities, including their synagogues. Such persons may choose to make charitable distributions from their IRA up to a total of $100,000 in 2011. A couple with separate IRAs each can make gifts up to $100,000. Here is a letter that you can adapt to send to your congregants in this age demographic or use for publication in your December newsletter.
  • Healthcare Reform Tax Credits for Synagogues
    Qualified synagogues- those with 25 or fewer "full time equivalent" employees and average wages less than $50,000) may be eligible for the Tax Credit if they contribute a uniform percentage of at least 50% towards the cost of their employees' health insurance (there is a limited exception to this uniformity requirement for 2010).
  • IRS and Tax Exempt Status for Synagogues
    Synagogues that meet the requirements of section 501(c)(3) of the federal tax code are automatically considered tax-exempt and are not required to apply for and obtain recognition of tax-exempt status from the IRS.
  • Red Flags and Personal Information Protection
    Identity theft and protection of personal information have become very important topics in today's technological world, and congregations are not immune to these concerns. The Federal Trade Commission recently laid out their "Red Flag" rules and there is a new Massachusetts regulation in effect that is aimed at protecting personal information.
  • To Do Justice: Selected Financial and Legal Issues Facing Congregations (46 pages)
    Updated in 2011, this publication offers some guidance regarding certain financial and legal requirements congregations must meet in order to accomplish its mission.
Order Publications!
URJ Books and MusicYou can download any of the above listed publications by clicking on the title.  If you prefer a hard copy of the publication, please visit URJ Books and Music online to place your order. (Please note that most of the publications are free of charge.) Order now!

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