Congregation Netivot Shalom's Newsblog!: Mid-Year Finance Report

Mid-Year Finance Report from

Congregation Netivot Shalom

Dear Members,

The Board and I thought it would be helpful to give a mid year report on our financial status. The basic message is: We are doing okay in the short term, but we have long term challenges that we are addressing.

Now for some of the more specific details (click on the link below to view the actual numbers):

We are still on track to bring in a budget that is balanced.

Although our fundraising line in the Operating Budget seems to often (always?) fall short, in fact we are doing quite well if one looks at the overall picture. Our congregants are currently contributing about $225,000 per year above and beyond dues. This includes not only the fundraising in the Operating Budget but also the contributions via the various capital campaigns and the Critical Appeal.

The combination of Capital Campaign contributions and the Critical Appeal funds are enough to keep the Building Fund nearly constant. This gives us badly needed time to deal with the long term financial issues, the primary one of which is the renegotiation of the mortgage.

The extension of the second mortgage is nearly complete. An encouraging outcome of this effort was the number of congregants who stepped forward and offered to pick up the parts of the loan that needed to be repaid.