Changes from the April board presentation to the May board presentation.
| Item | April | May |
|---|---|---|
| P & L | ||
| Foundation Distribution 4% of rolling 3-yr average |
$250,000 | $269,716 |
| Administration Expense (health insurance premiums lower than projected) | $1,303,015 | $1,255,187 |
| Total Revenue | $3,463,549 | $3,483,265 |
| Total Expenses | $3,364,103 | $3,316,275 |
| Net Surplus | +$99,446 | +$166,990 |
| Balance Sheet | ||
| ★ NEW — Foundation Distribution 1% of rolling 3-yr average Investment Account Restricted Building Fund |
$0 | $67,429 |
Five recommendations require Board approval: dues levels, new fundraising goals, security fee structure, Investment Account policy, and formal budget review process.
As board members, you have a fiduciary duty to understand these risks. The budget is balanced — but depends on several optimistic assumptions.
A balanced budget: revenue and expenses in balance, net surplus +$167K. Security Fee revenue increases to $195K under the new fair-share model.
⚑ Revenue projections do not yet reflect the expected impact of our new Development Director.
Revenue comes from 9 sources. Our two anchors — member dues (51%) and a confirmed anonymous gift — provide the base. The first annual distribution ($270K) from the Chicago Sinai Foundation is a key new revenue source.
| Revenue Source | FY26/27 | Chg FY25/26 | Note |
|---|---|---|---|
| Member Dues | $1,759K | +$166K | 4% increase · 51% of total revenue |
| Security Fee | $195K | +$72K | New per-diem fee structure. See Security Fee slide for detail. |
| HHD Appeal | $50K | +$50K | New High Holiday fundraising appeal — open to members and non-members attending services. |
| Annual Appeal | $220K | +$26K | Optimistic; assumes Dev Director impact |
| Benefit Event | $180K | +$20K | Net proceeds from annual gala |
| Preschool Tuition | $279K | +$25K | Difficult to predict — parents commit late |
| Religious School | $180K | +$38K | On track with projections |
| Foundation Distribution ★ | $270K | NEW | Foundation Board approved 4% drawdown policy. Annual distribution of 4% of rolling 3-yr average; 2026/2027 distribution approved at $269,716. |
| Anonymous Gift | $350K | +$50K | Confirmed. Not guaranteed every year. |
| TOTAL REVENUE | $3,483K | +$717K | vs. $2,766K last year |
FY25/26 Annualized · FY26/27 Budget · % = year-over-year change
All values in USD · FY25/26 figures are annualized actuals
84% of budget: Staff & Operations (38%), Clergy (23%), Occupancy (14%), Security (9%). All programs share the remaining 16%.
| Spending Area | FY26/27 | % | Change | Note |
|---|---|---|---|---|
| Staff & Ops | $1,255,187 | 38% | +$181K | New Dev Director, maintenance; health insurance premiums lower than projected |
| Clergy & Leadership | $759,048 | 23% | +$52K | Largely contractual — limited flexibility |
| Occupancy | $457,547 | 14% | −$58K | Security costs broken out from Occupancy; rent & utilities on plan |
| Security | $282,472 | 8% | +$94K | Increased presence post-Michigan attack; higher hours & rates. |
| Preschool Program | $263,757 | 8% | +$39K | Paired with $279K tuition → nearly breaks even |
| Religious School | $126,636 | 4% | +$6K | On plan; no changes recommended |
| High Holiday Program | $91,225 | 3% | +$16K | Includes security; issues resolved |
| Community Programs | $45,300 | 1% | +$35K | Increase is mostly reclassification, not new spend |
| Music | $35,104 | <1% | −$8K | Slight decrease; issues resolved |
| TOTAL EXPENSES | $3,316,275 | 100% | +$358K | vs. $2,958,391 last year |
| NET SURPLUS | +$166,990 | Revenue exceeds expenses — budget is balanced ✓ | ||
FY25/26 Annualized · FY26/27 Budget · % = year-over-year change